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Stream/Area:
-
Subject:
-
Paper ID:
IJSREM68017
Volume:
10 |
10 |
Oct 2026
Pages:
1-16
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Bachelors of Business administration
KL University
Bachelors of Business administration
KL University
The COVID-19 pandemic caused disruptions in the supply chain and workforce availability, as well as in consumers' demand across Indian industry. This study presents the impacts of the pandemic on the business operations and financial performance of a diversified Indian conglomerate, ITC Limited, with operations in FMCG, hotels, paperboards and packaging, agri-business and information technology. The respondents were asked to complete a structured questionnaire with a five-point Likert scale, which was then analysed using descriptive statistics, Cronbach's alpha, one-way analysis of variance, simple and multiple linear regression and a Baron–Kenny mediation analysis with the Sobel test. The respondents' mean score responses were positive for COVID-19 disrupting operations (mean score = 3.87), ITC's operational management being important (mean score = 3.81), and COVID-19 having an impact on financial performance (mean score = 3.79). Results of the regression indicate that the disruption of COVID-19 significantly affects business operations (β = 0.530, p < .001); business operations significantly affect financial performance (β = 0.643, p < .001); and the disruption of COVID-19 significantly affects financial performance (β = 0.589, p < .001). The COVID-19–financial performance relationship was partially mediated by business operations (indirect effect = 0.245; Sobel z = 4.10, p < .001; and 41.6% of the total effect). Gender, age, occupation and education were not significant factors for Chi-square and ANOVA tests. There are four different alternative hypotheses (H1-H4) all supported.
KEYWORDS
This study studied the financial effect of COVID-19 on ITC Limited in relation to the business operations. Both regression and mediation analyses in Excel demonstrate that the COVID-19 disruption has significant effects on business operations and financial performance and that the financial impact of the pandemic is partially mediated by business operations (indirect effect 0.245, 41.6% of total effect). These perceptions did not alter with demographic characteristics. The results highlight the importance of how a company manages and recovers its operations in mitigating loss from a systemic shock, and should be verified using real survey data and audited financial data.
N. S. Rohit & I. N. Vaidya (2023) : Analysed the Financial effects of Covid-19 on some FMCG Companies from India. Identified differences in financial performance throughout the pandemic. H. Kherala & S. P. Machhar (2022): Analysed the financial effects COVID-19 had on selected FMCG companies. Concerned with profitability, liquidity and financial performance. R. Gehlot (2021): Examined the immediate effect COVID-19 had on FMCG revenue and profit. Found changes in revenues and profitability during the pandemic. A. N. Angadi & A. Gaddi (2022): Examined how the FMCG sector had grown and developed and faced challenges since the pandemic of COVID-19. Emphasised consumer behaviour, technology and changes in supply chain. R. Prema & M. Rajakrishnan (2021): Analysed customers' behaviour towards FMCG products during the COVID-19 pandemic. Primarily studied the buying behaviour of people in Coimbatore. D. Mandloi (2021): Learned about the effect of COVID-19 on the FMCG and retail sectors. Discussed consumer behaviour, digital commerce and business strategies. ICICI Lombard Intelligence Partner (2022): Analysed the significant threats in the FMCG sector post COVID-19. Emphasised supply chains, inflation, commodity prices and commodity market risks. Y. Sun et al. (2021): Analysed the performance of the businesses in the FMCG sector and business survival in the context of COVID-19. With emphasis on technology adoption, efficiency, operational resilience. A. B. Vegad & A. Chakrawal (2023): Performed analysis of liquidity and profitability of FMCG companies post-COVID. Applied financial ratios to assess performance of business.
Publication Date
10/15/2026
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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Conflict of Interest
The authors declare no conflict of interest related to this research work.
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