How Gaurav Khemani took Rollick ice cream from ₹20 crore to ₹200 crore

When a landlord withheld Rollick Ice Cream’s stock, CEO Gaurav Khemani considered legal action to recover it. An entrepreneur in his ASCENT peer group suggested settling the dispute, recovering the goods, and moving on. Khemani followed the advice, paid to resolve it, and recovered the stock.

The dispute came during a difficult period for Rollick. Turnover fell from Rs. 80 crore in 2019 to Rs. 35 crore in 2020 while loan repayments continued. With 250-300 families depending on the business, Khemani had to manage costs and keep operations running amid declining sales.

Khemani took over the Kolkata-based ice cream business in 2014 when turnover was Rs. 20 crore. According to him, the company later crossed Rs. 200 crore, driven by his career change, the pandemic, and his choices about where to focus resources.

“I never set out to be an ice cream man, and I’m now the CEO of an ice cream company,” Khemani says.

In 2014, he was working in Dubai managing a business with annual sales of $100 million. An MBA from INSEAD had strengthened his prospects of building a corporate career and he hoped to work for a Fortune 500 company. Taking over Rollick, his father-in-law’s ice cream business in Kolkata, made him rethink that ambition.

Khemani sold his house and car, invested in the business, and moved back to India. Rollick had a presence in eastern India and he saw opportunities to improve operations and expand the customer base. Within four years, turnover climbed to Rs. 75-80 crore, reinforcing his decision to return.

His decision to return was partly shaped by an earlier experience of financial uncertainty. When Khemani was 12 or 13, his father’s business failed and he had to leave boarding school. This experience stayed with him throughout his education and career.

He later studied at Aston University in Birmingham, borrowing £10,000 from an aunt and working as a bartender to support himself. After graduating, he joined a cosmetics and lingerie company. His employer funded his MBA at INSEAD on the condition he return to the company for four years. He made the Dean’s List before eventually joining the family business.

At Rollick, the responsibilities differed from those of a corporate executive. Production, distribution, inventory, and cash flow all required attention. Each decision affected a business dependent on reliable storage and transport. As turnover grew, so did the demands of managing the operation. In 2020, those demands became more pressing.

The pandemic disrupted the sales and distribution channels Rollick depended on. Lockdown restrictions curtailed demand and left the company with finished goods worth Rs. 4-5 crore as sales fell. Loan repayments continued, adding pressure on cash flow.

Khemani was also dealing with his wife Anisha’s illness after she contracted COVID-19. At work, he had to manage inventory, control costs, and decide how to deploy the company’s resources as demand changed. The business was under pressure, and those pressures extended to employees, distributors, and others who depended on it.

Support from people across Bengal reminded him of the relationships Rollick had built over the years. The experience also highlighted the risks of expansion. Instead of spreading resources across a wider area, the company concentrated on eastern India where it already had customers and an established distribution presence.

For an ice cream maker, entering new markets involves more than finding retailers. The business must also support storage, transportation, and consistent product availability. Building those capabilities requires investment, especially when demand in a new market is uncertain. Concentrating on familiar markets allowed Rollick to focus on the business it already competed in. The company eventually returned to growth and crossed Rs. 200 crore in turnover, according to Khemani. That recovery marked Rollick’s return after a period focused on protecting operations and managing financial pressure. The experience tested the business and its decisions, from inventory management to market choices.

Khemani’s association with ASCENT Foundation gave him another forum to discuss the challenges of running a business. Founded by Harsh Mariwala in 2012, the organisation brings entrepreneurs from non-competing businesses together in confidential Trust Groups. Members discuss business problems and draw on the experiences of peers who face similar responsibilities.

The landlord dispute offered a practical example. Khemani initially considered legal action to recover Rollick’s stock. A fellow entrepreneur advised him to settle the matter, recover the goods, and avoid prolonging the dispute. He followed the advice, paid to resolve it, and recovered the stock.

For Khemani, the value lay in having another business owner examine the problem from a different perspective. A legal dispute might offer grounds for pursuing a claim, but the time and cost involved also matter when a business is under pressure. The conversation gave him an option to consider before deciding.

ASCENT says its community connects more than 1,300 entrepreneurs across 65-plus industries and 45-plus cities. Its programs include one-to-one mentoring through PowerUp, expert-led Huddles and interactions with experienced business leaders. The Trust Groups provide a regular setting for members to discuss matters they may find difficult to address with people outside their business environment.

Such discussions do not replace a founder’s judgment or guarantee a particular outcome. Their value lies in bringing other experiences to bear on a decision. In Khemani’s case, the advice addressed a specific problem at a difficult time for Rollick and helped him resolve the dispute without prolonging it.

As Rollick grew, Khemani began looking beyond immediate operational demands. Mariwala encouraged him to think a year ahead and start working toward those priorities. The approach required attention to the people and capabilities the business would need as it expanded.

One employee’s career reflects how responsibilities have developed within Rollick. He joined the company as an assistant accountant around 2000 and now leads procurement and manufacturing. He progressed from an entry-level finance role to functions central to the company’s production and supply operations.

Rollick has also supported the schooling of more than 100 children and runs two computer centers. These initiatives extend the company’s involvement beyond its commercial operations to communities around its business.

The company’s next stage will depend on its ability to sustain growth while managing production, distribution, and sales. Its experience during the pandemic highlighted the financial pressure that can come with falling demand, especially when inventory and loan repayments continue to weigh on the business.

Khemani’s return from Dubai brought him into a role that required responsibility not just for commercial performance but also for the people and operations behind it. Rollick’s growth from around Rs. 20 crore to more than Rs. 200 crore reflects that journey, from pre-pandemic expansion to the recovery that followed.

The landlord dispute was a smaller episode within that history, but it shows how Khemani approached one of the problems that arose along the way. The advice came from an entrepreneur who understood the demands of running a business. The decision remained Khemani’s, as did the responsibility for getting Rollick back on track and stay focused on growth.

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