Cement maker Sanghi Industries, which started off as a predominantly export-driven company, has turned its focus on the domestic market. It has put in place a turnaround strategy that involves wiping out its debt level, which is around Rs 750 crore at present.
With a turnover of approximately Rs 1,000 crore, the company – with a 3 million tonne per annum plant at Kutch, in Gujarat – has operationalised a 63 mw captive power plant and a sea terminal (Rs 50 crore) in Navlakhi port in Rajkot district.
Alok Sanghi, Director of the Group said that energy and logistics are the biggest costs for the cement business and the company has strengthened them to improve efficiencies and cut costs.
The sea route will be used to cost-effectively increase its geographical reach and grow its markets. At present, the company is serving Gujarat, Rajasthan, Madhya Pradesh and Maharastra. The focus is to expand in the Central and Western regions, and in the coastal States, he said.