Shri HM Bangur, HM stands for Hari Mohan, he is an alumnus of the prestigious institution, IIT, Mumbai where he graduated in the field of Chemical Engineering. He was born in early 1950’s and is current Managing Director of Shree Cement.
The year was 2002, and Shree Cement was draining in bank loans, Bangur family was desperate to pay back the loans, accepted to a 50-50 ownership deal with the French group Vicat, it was a win win situation. The French company wanted to enter the Indian Market and the Bangur’s wanted to settle the debt. Everything was ready, a champagne party was all planned out, but things changed when a night before the agreement was to be signed, Mr. HM Bangur had a change of heart. He thought that if he can find a buyer now, he can find a buyer a year later. With his father’s permission he declined the merger. And the secret lied in the change of fuel, petroleum coke is the magic ingredient that gave Shree Cement a cost advantage. It was kept as trade secret for eight years. That’s not it, the plants other advantages are modular plants, fuel shift technique and lastly eco-friendly waste-heat recovery systems that can transform the unwanted to energy that can be reused. Today around 65% of shares of Shree Cement is owned by Bangur family.
HM Bangur instincts and courage changed the course of Shree Cement. He was passionate to reach the greater heights; he believes in producing high quality products in high quantity. He saw a chance that he can switch the fuel and he took it. He believes in questioning the norm and standards and not to follow them blindly. He made sure Shree Cement keeps evolving, and this produce ground breaking result. Under his leadership Shree Cement has entered in the race of Premium Cement Brand.
HM Bangur is also the President of Rajasthan Foundation, Kolkata Chapter. Shri Bangur was the President of the Cement Manufacturers Association (CMA) between 2007 and 2009 and Ex-Executive Member of FICCI. He has been awarded with the prestigious “Ernst Young Entrepreneur of the Year Award 2016” and “Forbes Leadership Award 2017”. He is also Chairman of the Bengal and an NGO actively engaged with Kolkata Police to provide all possible help to the old age people living alone. You should always give back to the society.
The time to re-invent any product, process or organisation is when things are working well.