CASE 9
Shree Renuka Sugars Ltd.: Narendra Murukambi the Turnaround Wizard
This case study is based on the video interview of Narendra Murkumbi, Co-founder, Vice Chairman and Managing Director of Shree Renuka Sugars Ltd.
SYNOPSIS
It was Narendra Murkumbi’s dynamic vision to turnaround distressed assets of leased co-operative sugar factories that earned him ‘The Entrepreneur of the Year’ award at The Economic Times Awards (ET awards), 2010. A year later, his company lifted ET’s ‘Emerging Company of the Year’ award for the year 2011. However, the latest quarterly results revealed that the Brazilian sugarcane crop had failed, resulting in huge losses in the Brazilian subsidiary. As a result, Renuka Sugars was saddled with massive debt. Narendra ...
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