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It has commissioned an integrated cement plant at Nawalgarh, Rajasthan, which will be operational by December 2023. The company has announced it will invest Rs 4,750 crore until FY 2024. But nearly two years later, post fund-raising in September 2021, the company announced to the bourses that it is pumping capital as part of its capex expansion plan. By January 2020 it was becoming clear that the coronavirus was taking over the globe and things were slowing down. To embark on its capital expenditure plans, in November 2019, the company had raised Rs 2,399.99 crore through a qualified institutional programme at a share price of Rs 19806.46. Though he rues again that two years have been wiped out from the company’s growth path.
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Now, as things have opened up, the company is back at full throttle with its capex plans and growing its capacity.
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We were uncertain about how to go ahead,” he says. All the new projects were delayed and we were almost ready with all our expansion plans and capital expenditure, but Covid delayed our plans by about two years.
“One casualty which is of long term in nature that we faced during Covid was that due to the uncertainty we had to take a position on how the demand will move, how demand will sustain going forward. Construction activities backed by infrastructure projects, state elections, and a general real estate revival is helping ancillary industry get back on its feet.īut he does repent one call that he made during the pandemic. Shree Cement bosses believe that business is now back to normal as market demand at present is at an all-time high. But activity was low everywhere, so low production was also good enough to survive, that was the key,” HM says with a smile. And the consumption was low due to a real shortage of supply. “In those pandemic days, our market share was a little better. With enough cash in the bank HM was clear-people wouldn’t be let go. But their analysis showed that they would be able to survive through it. Another thought that crossed HM’s mind was that if plant closure problems persisted it would take other companies down too. For a commodity manufacturing company that was a healthy sign.īut the next question was, was there a need to cut back on salary costs of employees and would they need to let people go? Bangur was clear that if they let go of talent today, they might not be able to hire good ones tomorrow. The stress test threw up a number, the calculations suggested that their cash pile would survive for the next three years. “We were all in panic and it is the first time we saw such a situation where plants had to be closed and nobody knew what will happen and how long it will last.”Īs India businesses downed their shutters during a strict lockdown in March 2020, the first thing Bangur did was simple-calculate how long the company can sustain its cash if operations are restored post six months or one year. Sitting in his sprawling office with a huge Cisco monitor on the table, HM Bangur talks about the pandemic. Nineteen years ago, in 2003, HM Bangur’s son Prashant Bangur too joined the business. Behind the steering wheel is 70-year-old Hari Mohan Bangur, who has been running the show along with his father since he graduated from IIT Bombay in 1975. It is now present in Rajasthan, Haryana, Uttarakhand, Uttar Pradesh, Bihar and Chhattisgarh. It is 2022, Shree Cement currently produces 46.4 million tonnes per annum, a massive leap from the mere 1.8 million tonnes per annum (MTPA) it produced in 2000. Pour About 6 Tbsp (90 Ml) Of Vinegar Into The Pot, Allow The Vinegar To Stay In The Pot For About 10-15 Minutes, And Then Rinse The Pot Several Times To Remove Any Of The Vinegar From The Pot Included Components: 1 Piece | Special Features: Easy To Operate On/ Off Button electrical Multipurpose cooking pot Annular warmth dissipation gap: Design of annular warmth dissipation gap, excessive effectivity and quick warmth dissipation on the backside, improve service life Visual glass cowl: Using toughened glass to withstand excessive temperature and explosion.Kairav and Saumya Engineer: Brothers' passion to constantly innovate rejuvenates Astral Wattage : -600 Watts | Capacity: 1.5 L Colour :- Blue, Red, Green, Yello Material :- Plastic & Stainless Steel Troubleshooting Guidelines: Do Not Immerse In Water.
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