India Cements targets debt, costs
The India Cements Ltd. has embarked on a two-pronged initiative to stay ‘healthy and all-time fit’.
The exercise will largely focus on delivering value for all the stakeholders in the company, according to N. Srinivasan, Vice-Chairman and Managing Director of India Cements.
Debt focus
He said that it was imperative to be cost-competitive in the emerging dynamic environment. Also, it was essential to keep a watch on the debt level, he added.
“We want the debt level to be substantially cut down,’’ Mr. Srinivasan said. This was necessary to help the company handle any downturn better, he added. “The pressure of debt should not be there on us,’’ he said.
He indicated that efforts were also on to take a closer look at the cost structure. “We should strive to be a low-cost producer to have command over the competition,’’ he said.
Asked if he was focusing lot more on India Cements after moving out of the Board of Control for Cricket in India, he said, “I am always conscious that in any public body, your time is finite. I have moved on and am happy.’’
Future growth
Mr. Srinivasan recently addressed the company’s executives from both the corporate office and plants, and gave an elaborate run-down on the future growth direction for the company, while emphasising the company’s focus on cost-control and operational efficiency. Last month, he met over 30 fund managers and key investors to brief them on the growth initiatives of the company.
MUMBAI: CDC, the British government's development finance arm, will invest $680 million in India, as a 7.5% GDP growth forecast Read more
The BCCI cleared the Indian cricket group's interest in one month from now's Champions Trophy, finishing a fortnight-long anticipation with Read more
