High and lows of N Srinivasan — the man who lived and breathed cement in entire life The Vice Chairman& MD of India cements shares with Sushila Ravindranath the highs and lows he faced in the Cement Industry
When we hear the name N Srinivasan, we think of cricket. As it happens, cricket is not his only passion. Cement is the other. He has lived and breathed cement his entire adult life. Last year marked his 50th year of association with the industry. To celebrate this landmark, the company has brought out a coffee table book on him.
India Cements Ltd (ICL) was founded in 1946 by SNN Sankaralinga Iyer and TS Narayanaswami (Srinivasan’s father), both from Tirunelveli district of Tamil Nadu. Srinivasan was made the joint MD of ICL in his 20s when his father passed away unexpectedly at age 59, in 1969. He had to cut short his MBA at the Illinois Institute of Technology where he had done his Masters in Engineering.
As per Mr. Srinivasan, cement is a great industry to be in. After decontrol, it is the second-largest cement manufacturer in the world, with 400 million tonne capacity. It is a cyclical industry with a constant supply-demand mismatch. While the industry has been facing challenges, as per Mr. Srinivisan it will improve in five years and will be outstanding in 10 years.
Mr. Srinivisan mentioned that ICL is now one of the top 10 manufacturers of cement in the country and soon going into MP and UP.
He has been able to successfully achieve amicable wage settlement with cement industry workers throughout the country, with all trade unions coming together for 30 years. Currently, he is working on the 7th wage settlement.
ICL remains independent and will not consider selling out to MNCs.