Business Line: At Shree Cement, the focus is on asset creation: HM Bangur.

Shree Cement is focusing on asset creation and is setting up a captive power plant investing about Rup 1.2 bn, according to Mr HM Bangur, the Joint Managing director of the company. As part of cost reduction programme Shree Cements took several measures like reducing: its receivables to 27 days turnover from 43 days; inventories to Rup 347.2 M from Rup 667.8 M; working capital by 28%; and over cost of finance by 13.5% from 16.5%. Liquidity possessed by the company was almost 8% of its turnover at about Rup 440 M as on 30 Jun 2001. Shree Cement will change its accounting year from Jul-Jun to Apr-Mar. The company recorded a 70% increase in net profit at Rup 261.1 M on a 15% …