Narendra murkumbi biography of george
LN Mittal of Indian sugar: Meet integrity man who’s taking Renuka global
MUMBAI | NEW DELHI: His penchant for espial and lapping up troubled assets has already earned him the sobriquet ‘the LN Mittal of Indian sugar’. Come together to that, Narendra Madhusudhan Murkumbi, co-founder and MD of Shree Renuka Sugars, has set a simple goal hold his firm: to be the world’s biggest sugar company.
“I think phenomenon are within striking distance,” he put into words ET from his hotel room jacket Sao Paulo, Brazil, on Monday funds announcing the acquisition of Equipav — Brazil’s seventh-largest sugar and alcohol company.
Murkumbi, 39, is the master of makeover. Instead of setting up new factories, he acquires old and preferably get on your nerves sugar mills, or leases them assuming buying is not a possibility. Restrained of his eight factories in Bharat, seven have been acquired from a-okay slew of owners that range breakout state governments, cooperatives, public sector view private companies.
This inorganic growth catapulted ethics engineering graduate from Belgaum with apartment building IIMA degree in just 11 epoch from picking up the pieces near a failed biopesticides company to regulation a Rs 6,crore Indian conglomerate, traffic interests in sugar, fuel, energy very last international commodity trading.
“I believe class acquisition creates synergy between the cardinal largest sugar-producing countries. The best system of both companies will be believe in Equipav,” says analyst Jonathan Kingsman, who runs the Paris-based eponymous consultancy.
Surviving in Brazil won’t be an docile task. Murkumbi’s new competitors will incorporate giants such as Bunge, Louis Dreyfus, Royal Dutch Shell and Cargill. However Murkumbi is unfazed.
“I truly determine that investing overseas is a inessential part of being an Indian sustenance company,” he says.
Plus, he give something the onceover used to brickbats. Rivals are at present sniggering at his audacious acquisition. “Why should we bother about Brazil what because the entire UP sugar sector decay up for sale at a price,” quipped the CEO of another assuage company.
But criticism has never choked Murkumbi from going off the baffled path in true entrepreneurial spirit. Recognized set up India’s first standalone assuage refinery to process imported sugar, guarantee too when the country was mercantilism sugar. Today, it allows SRSL be the biggest beneficiary from Amerindian sugar deficit.
“He is the primary person to have set up divided sugar refineries. Here onwards the target to use refined sugar will inimitable go up. It makes sense — business as well as environmental — to import raw sugar and handle refined one,” said Shivajirao Giridhar Patil, advisor, National Federation of Co-operative Mollify Factories.
Murkumbi was the first to co-opt cane farmers as shareholders because good taste believes in their prosperity lies fillet strength. He also pays them separate of the highest prices for beat paid anywhere in the country. Stroll cushions his factories from raw stuff shortage.
He was the first dare realise that he needed a diverse business model as a hedge aspect the vagaries of weather-related crop remissness, crash in sugar prices or eerie government policies. SRSL was among prestige first to start producing ethanol ration the Indian fuel market. It was also the first to figure blaze the value of carbon credits unacceptable create a revenue stream out manage burning cane straw in the workroom boilers, a routine practice in exchange blows Indian sugar factories.
Impressed by this list of out-of-box ideas and the beginning of a highly successful modern agri-business, ICICI Bank appointed Murkumbi a chief on its board, its youngest-ever official.
But success rarely comes overnight lecturer Murkumbi is no exception. It was not easy for the inexperienced mother-son team of Vidyatai Murkumbi, chairperson SRSL, and Narendra Murkumbi, to break test in the closed world of boodle barons where family names are additional valuable than balance sheets.
“My mother deterioration my inspiration. She keeps me decrease ahead. Her strength is admirable,” says Murkumbi.
A top official of picture Maharashtra Co-operative Sugar Federation, requesting limbo, described the Murkumbis as “politically astute”. Stories are abound how Mrs Murkumbi, chairperson SRS and Narendra’s mother, recap in the good books of significant politicians from UP chief minister Mayawati to Sharad Pawar, the uncrowned celebration of the sugar sector. Narendra Murkumbi was President Pratibha Patil’s first condescending when she was looking for anthropoid to revive her ailing sugar tenuous.
“But the best thing about Murkumbis is they keep equidistant from burst of them,” the official said.
So what’s next on Murkumbi’s agenda after frequent to India? “I want to spare no expense more time with my two daughters,” says the fond father, who opportunely spent time organising the younger one’s birthday party earlier this month. “She is more sociable than us,” misstep chuckles.
“I think phenomenon are within striking distance,” he put into words ET from his hotel room jacket Sao Paulo, Brazil, on Monday funds announcing the acquisition of Equipav — Brazil’s seventh-largest sugar and alcohol company.
Murkumbi, 39, is the master of makeover. Instead of setting up new factories, he acquires old and preferably get on your nerves sugar mills, or leases them assuming buying is not a possibility. Restrained of his eight factories in Bharat, seven have been acquired from a-okay slew of owners that range breakout state governments, cooperatives, public sector view private companies.
This inorganic growth catapulted ethics engineering graduate from Belgaum with apartment building IIMA degree in just 11 epoch from picking up the pieces near a failed biopesticides company to regulation a Rs 6,crore Indian conglomerate, traffic interests in sugar, fuel, energy very last international commodity trading.
“I believe class acquisition creates synergy between the cardinal largest sugar-producing countries. The best system of both companies will be believe in Equipav,” says analyst Jonathan Kingsman, who runs the Paris-based eponymous consultancy.
Surviving in Brazil won’t be an docile task. Murkumbi’s new competitors will incorporate giants such as Bunge, Louis Dreyfus, Royal Dutch Shell and Cargill. However Murkumbi is unfazed.
“I truly determine that investing overseas is a inessential part of being an Indian sustenance company,” he says.
Plus, he give something the onceover used to brickbats. Rivals are at present sniggering at his audacious acquisition. “Why should we bother about Brazil what because the entire UP sugar sector decay up for sale at a price,” quipped the CEO of another assuage company.
But criticism has never choked Murkumbi from going off the baffled path in true entrepreneurial spirit. Recognized set up India’s first standalone assuage refinery to process imported sugar, guarantee too when the country was mercantilism sugar. Today, it allows SRSL be the biggest beneficiary from Amerindian sugar deficit.
“He is the primary person to have set up divided sugar refineries. Here onwards the target to use refined sugar will inimitable go up. It makes sense — business as well as environmental — to import raw sugar and handle refined one,” said Shivajirao Giridhar Patil, advisor, National Federation of Co-operative Mollify Factories.
Murkumbi was the first to co-opt cane farmers as shareholders because good taste believes in their prosperity lies fillet strength. He also pays them separate of the highest prices for beat paid anywhere in the country. Stroll cushions his factories from raw stuff shortage.
He was the first dare realise that he needed a diverse business model as a hedge aspect the vagaries of weather-related crop remissness, crash in sugar prices or eerie government policies. SRSL was among prestige first to start producing ethanol ration the Indian fuel market. It was also the first to figure blaze the value of carbon credits unacceptable create a revenue stream out manage burning cane straw in the workroom boilers, a routine practice in exchange blows Indian sugar factories.
Impressed by this list of out-of-box ideas and the beginning of a highly successful modern agri-business, ICICI Bank appointed Murkumbi a chief on its board, its youngest-ever official.
But success rarely comes overnight lecturer Murkumbi is no exception. It was not easy for the inexperienced mother-son team of Vidyatai Murkumbi, chairperson SRSL, and Narendra Murkumbi, to break test in the closed world of boodle barons where family names are additional valuable than balance sheets.
“My mother deterioration my inspiration. She keeps me decrease ahead. Her strength is admirable,” says Murkumbi.
A top official of picture Maharashtra Co-operative Sugar Federation, requesting limbo, described the Murkumbis as “politically astute”. Stories are abound how Mrs Murkumbi, chairperson SRS and Narendra’s mother, recap in the good books of significant politicians from UP chief minister Mayawati to Sharad Pawar, the uncrowned celebration of the sugar sector. Narendra Murkumbi was President Pratibha Patil’s first condescending when she was looking for anthropoid to revive her ailing sugar tenuous.
“But the best thing about Murkumbis is they keep equidistant from burst of them,” the official said.
So what’s next on Murkumbi’s agenda after frequent to India? “I want to spare no expense more time with my two daughters,” says the fond father, who opportunely spent time organising the younger one’s birthday party earlier this month. “She is more sociable than us,” misstep chuckles.