Tackling Covid-19: Our Heroes on the Front Lines (Part-2)

Location: India Date: Wed May 1

Zephyr Peacock invests in businesses that provide unique and innovative solutions to challenging business and social problems. Our portfolio companies have operations in both urban and rural areas of India. Many of our businesses provide access to low cost products and services to customers from low income communities.

In these challenging times, our portfolio companies are increasing their focus on meeting essential needs and providing care for the poor and the underprivileged. In this letter, we present stories from our portfolio companies, Maverix and Utkal Tubers.

Maverix Provides Free Meals for Stranded Migrant Workers

Location: India Date: Wed May 1

Maverix is a producer of fresh ready-to-eat meals and beverages

Location: India Date: Wed May 1

The Government of India implemented a three week nationwide lockdown from 25 March 2020, allowing only essential services to operate. The lockdown has since been extended to 31 May 2020. Relaxations in lockdown were introduced from 4 May 2020 in certain zones across the country enabling gradual restart of economic activity.
Due to the lockdown, many migrant workers in India's urban areas have become jobless and are facing destitution. Suspension of public transport has left the laborers trapped in cities far away from home.

Location: India Date: Wed May 1

For the migrant workers in cities, hunger has become a bigger threat than the pandemic. With their livelihoods grinding to a halt, they rely on occasional meals distributed by charities, religious organizations or local authorities. A majority of the free meals distributed to the stranded workers have been provided by local charitable organizations referred to as non-governmental organizations (NGOs).

Location: India Date: Wed May 1

Zephyr Peacock's portfolio company, Maverix, has provided 10,000 meals to NGOs in Mumbai, Delhi and Bangalore. The Company has served free and low- cost meals to thousands of families during the lockdown.

Location: India Date: Wed May 1

During the lockdown, Maverix's kitchens have continued to manufacture and serve high quality, hygienic food across three states of India. The Company has implemented strict safety protocols such as conducting daily temperature checks for all its employees, enforcing social distancing measures, encouraging hourly handwashing, and enabling contactless hand over of food to delivery personnel.

Location: India Date: Wed May 1

Maverix remains focused on making fresh food available for its customers across India. The Company continues its efforts to prevent acute hunger during the lockdown by engaging with NGOs. Maverix is developing a new business line that will provide meals to hospitals and other health care facilities. Maverix was acquired by Curefoods in January 2022.

Utkal Tubers Provides Free Food and Fodder to Poor Farmers in Assam

Location: India Date: Wed May 1

Utkal Tubers is a vegetable seeds company focused on the development of high- yielding and disease-resistant varieties of seed potatoes.

Location: India Date: Wed May 1

The nationwide lockdown imposed by the Government of India has impacted farmers across the country especially during the harvest of the winter crops. Although farming has been exempted from the lockdown, restrictions on movement and transport have led to the collapse of supply chains. In addition, farmers are unable to find buyers for their produce as wholesale buyers like hotels, restaurants and caterers are closed. A large portion of the harvest is rotting due to a lack of demand and inadequate cold storage facilities.

Location: India Date: Wed May 1

In the north eastern state of Assam, the situation has been dire as the majority of the population relies on agriculture and allied activities. Marginal farmers and landless farm laborers lost their livelihoods overnight.

Location: India Date: Wed May 1

Zephyr Peacock portfolio company, Utkal Tubers, donated packages of one month's worth of food supplies and sanitation products to affected families in Assam. Utkal has also distributed 600 kgs of rice, 300 kgs of maize and wooden rice pounders to these families, so that they have enough fodder to continue feeding their livestock during the lockdown. Brochures describing good hygiene practices and safety measures including wearing masks, hand washing, and social distancing were also distributed.

Location: India Date: Wed May 1

Utkal Tubers' efforts have helped poor marginal farmers tide through the lockdown while keeping their livelihoods from livestock afloat. The Company improving the lives of Indian farmers. Utkal Tubers is one of the first companies to successfully produce seed potatoes in Assam, improving farmer income in the region through increased availability of high-quality seeds, reduced cost of transit and decreased wastage.