This book examines how Indian companies turned crisis into growth

The Art of Enduring, a new book by authors and investors Saurabh Mukherjea and Salil Desai, delves into how five prominent Indian companies transformed adversity into success. Published on September 14 under Penguin Random House India's Business imprint, the book offers an in-depth analysis of how these businesses weathered disruptions such as demonetisation, GST, COVID-19, global trade tensions, and supply chain challenges between 2015 and 2025.

Mukherjea and Desai profiled India's 500 largest companies, identifying those that surpassed the nation's economic growth while generating annual returns on capital exceeding 15%. Through the narratives of Bajaj Finance, Titan, Dr Lal PathLabs, Divi's Laboratories, and Tata Elxsi, the authors uncover the key factors that enable companies to not only withstand but thrive amidst disruption.

These factors include robust systems, strong cultures, visionary leadership, continuous innovation, formidable brands, and strategic assets.

The book also highlights the role of exceptional individuals such as Arvind Lal (Bajaj Finance) and seasoned executives like Bhaskar Bhat, Rajeev Jain, and Om Manchanda, who played pivotal roles in shaping these companies' resilience. Beyond celebrating the success of these "quiet compounders"—companies that have grown steadily over decades through disciplined execution and institutional strength—the authors challenge the conventional focus on charismatic founders.

By posing the question, "What do great companies do when the world goes wrong?" the authors emphasize that the most successful enterprises don't merely wait for stability; they actively learn to harness time's power. The Art of Enduring provides valuable insights into the characteristics and strategies that define corporate greatness in the face of adversity.