India Inc's 10 Most Successful Turnaround Tales

6. N. Srinivasan
Vice Chairman & MD, India Cements

When cement prices crashed, India Cements ran into deep troubles with lenders harassing. Conditions were such worse that the company had to curtail production due to lack of working capital.

Along with regulatory measures like corporate debt restructuring scheme, cutting costs and selling some assets, a major step was taken by Srinivasan, coming out with a Global Depository Receipts issue. Though he was warned by many, still none could hold his steps back.

“The crisis that set us back by a few years taught me one thing - never expand in a fractured market using debt. When you have no control over prices, your ability to service debt will be impaired,” said N. Srinivasan.

The company gradually revived and today India Cements is a leading Cement company.

7. Peter Mukerjea
Former CEO of STAR India

STAR India, the Indian media and entertainment conglomerate was in crisis situation when it began to lose a major stake of its viewership. The company sternly needed to attract more viewers across the country.

Peter Mukerjee, former CEO of STAR India initiated mega show such as KBC which turned out to be a huge success and the company was back in the market.

Today, STAR India's portfolio includes 33 channels in eight languages to more than 400 million people every week across India and more than 100 countries across the globe.

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