"IT WAS A mess,” says Puneet Dalmia in a calm voice. Dressed casually in a T-shirt, the Managing Director of Dalmia Bharat Group is all keyed up when he talks about the cement business. The “mess” he is referring to is in connection with the buyout of Murli Industries, a Nagpur-based company, announced in late 2017 through the IBC process. The ₹402-crore acquisition brought to the table capacity of 3 million tonnes per annum (mtpa) in Maharashtra’s Chandrapur region. From a strategic point of view, it was a necessity. The cement major needed a presence in western India, which was a weak link in Dalmia Bharat’s portfolio.
But, as Dalmia says, the plant was a mess. While he and his team knew that it had been shut for four years, what they saw was shocking. “Gearboxes and transmission lines had been stolen. It was clear that the capex needed would be more than what we had in mind.” Banking on their expertise as turnaround specialists, the team worked hard for the next 12 months. Money was put in to correct a host of issues, including those related to mining leases and sourcing raw material.
“We managed to increase the life of the mine. Today, we are at 50 per cent utilisation and it has taken 18 months to get there,” says Dalmia, an alumnus of IIT Delhi and IIM Bangalore, who is also the winner in the Cement category of the Business Today-PwC India’s Best CEOs ranking.
Esta historia es de la edición May 14, 2023 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 14, 2023 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
DE-RISKING THE BOOKS
INDIAN BANKS ARE BEGINNING TO TAKE BABY STEPS TOWARDS ADDRESSING CLIMATE-RELATED FINANCIAL RISKS IN THEIR BOOKS. BUT THEY MUST PUT THEIR FOOT ON THE PEDAL AND ENHANCE PREPAREDNESS
PAYING FOR CHANGE
WITH EXTREME WEATHER INCREASINGLY PUTTING THE COUNTRY AND ITS ECONOMY AT RISK, INDIA SHOULD EXPLORE CLIMATE FINANCE PATHWAYS TO FUND ITS NET-ZERO JOURNEY TOWARDS A GREENER FUTURE
BEYOND THE BLIP
ESG HAS BEEN UNDER SCRUTINY GLOBALLY AMID ALLEGATIONS OF GREENWASHING AND RECORD REDEMPTIONS FROM ESG FUNDS. BUT THAT MAY JUST BE ONE SIDE OF THE STORY, SINCE SUSTAINABLE PRACTICES HAVE BECOME CORE COMPONENTS OF COMPANIES' STRATEGIES
BANDHAN AT A CROSSROADS
THE BELEAGUERED LENDER, LED BY CHANDRA SHEKHAR GHOSH, HAS FACED A HOST OF CHALLENGES IN RECENT TIMES. IT HAS READIED A BLUEPRINT TO DEAL WITH THEM. BUT WILL IT SUCCEED WITHOUT GHOSH AT THE HELM?
RESULT AND REPERCUSSIONS
After the verdict, the Street has turned cautious with analysts expecting the new government to reassess some of its policy priorities
D-STREET ANGELS
FACED WITH A DEARTH OF PURE-PLAY THEMES IN THE SECONDARY MARKETS, SEASONED INVESTORS LIKE VIJAY KEDIA, MUKUL MAHAVIR AGRAWAL, AND THE JHUNJHUNWALAS HAVE TRAINED THEIR SIGHTS ON THE START-UP
A Man of Multitudes
IN A NEW BOOK, CAPTAINS OF INDIA INC. AND OTHERS PAY TRIBUTE TO RAHUL BAJAJ, THE TITAN OF INDIAN INDUSTRY
HOUSE OF THE RISING SUN
WITH THE GOVERNMENT OFFERING SUBSIDIES UNDER THE PM SURYA GHAR MUFT BIJLI YOJANA, MANY HOUSEHOLDS HAVE TAKEN A SHINE TO SOLAR ROOFTOP PANELS. BUT HOW MUCH DO THEY COST?
FROM GREY TO GREEN
WITH THE CLIMATE CRISIS BECOMING MORE ACUTE, GREEN HYDROGEN COULD BE AN IMPORTANT SOLUTION
ECO CHAMBER
DATA CENTRES ARE A VERY VITAL PART OF THE DIGITAL TRANSFORMATION THAT IS UNDERWAY, BUT THERE'S A PROBLEM: THEY CONSUME TOO MUCH ENERGY. AS DEMAND FOR SUCH CENTRES INCREASES IN INDIA, IT HAS NO OPTION BUT TO EMBRACE GREEN SOLUTIONS
