PENGUIN BUSINESS TO PUBLISH THE ART OF ENDURING BY SAURABH MUKHERJEA AND SALIL DESAI

Penguin Random House India is delighted to announce the forthcoming publication of The Art of Enduring: How Great Companies Turn Crisis into Opportunity by bestselling author and investor Saurabh Mukherjea and Salil Desai, Head of Research at Marcellus Investment Managers. The book will  publish on 14^th September.

A decade after The Unusual Billionaires, Mukherjea returns to the question of what makes a truly exceptional Indian company, this time with Salil Desai and against the backdrop of one of the most turbulent periods in modern business history.

Between 2015 and 2025, corporate India confronted an extraordinary succession of disruptions: demonetization, the rollout of GST, COVID-19, trade wars and global supply-chain upheaval. Yet amid these shocks, a small group of companies did more than survive. They continued to grow, innovate and strengthen the competitive advantages that had made them exceptional in the first place.

In The Art of Enduring, Mukherjea and Desai begin with India’s 500 largest companies and identify those that outpaced India’s GDP while generating returns on capital of more than 15 per cent every year for a decade and a half. Only five companies make the final cut: Bajaj Finance, Titan, Dr Lal PathLabs, Divi’s Laboratories and Tata Elxsi.

Through the stories of these five institutions, the authors explore what enables a company not merely to withstand disruption but to turn it into an enduring source of strength. The book examines the systems, cultures, leadership choices, innovation, brands, and strategic assets that allow great businesses to keep compounding while the world around them changes.

At its heart are also the people who built these institutions: entrepreneurs such as Dr Arvind Lal, and professionals including Bhaskar Bhat, Rajeev Jain and Om Manchanda, whose careers demonstrate the extraordinary impact that professional managers can have on Indian enterprise. Away from the age of celebrity founders, The Art of Enduring turns its attention to India’s quiet compounders, businesses whose achievements have been built through decades of hard work, discipline, intellect and institutional strength.

More than an investing book, The Art of Enduring is a study of Indian enterprise and the nature of corporate greatness. It asks a deceptively simple question: What do great companies do when the world goes wrong?

The answer lies in the book’s central idea: the greatest companies don’t wait for calm. They learn to befriend time.

“A decade ago, we began the search for Indian companies which can create generational wealth. Published in 2016, ‘The Unusual Billionaires’ was our first book on this subject. In ‘The Art of Enduring’ we check-in on the continued success of the companies profiled in 2016 and decode five more Indian companies which have successfully overcome formidable odds to build powerful franchises.” Quote by the authors

Saurabh Mukherjea is a fellow of the Royal Society of Arts and an alumnus of the London School of Economics. He is the author of four bestselling books on subjects including investing, business strategy and self-improvement. Prior to Marcellus, he was CEO of Ambit Capital and, before that, co-founder of Clear Capital in the UK. He manages Marcellus Investment Managers.

Salil Desai is Head of Research at Marcellus Investment Managers. A chartered accountant with a postgraduate diploma in business management, he has spent more than twenty years in research and investing across multiple sectors. He has previously worked at IDFC Securities and Premji Invest and is co-author of the bestselling Diamonds in the Dust.

BOOK DETAILS

Title: The Art of Enduring
Subtitle: How Great Companies Turn Crisis into Opportunity
Authors: Saurabh Mukherjea and Salil Desai
Imprint: Penguin Business
Publication: 14 September 2026
Format: Hardback
Pages: 352
Price: ₹699
ISBN: 9789377300708