5 THE FIGHTER

H. M. Bangur MD,

Shree Cement Ltd.

` 38.2 crore (2016/17) ` 25.3 crore (2015/16) HARI MOHAN BANGUR, 66, the Managing Director of Shree Cement, is the highest paid promoter in the cement sector. He took on mighty competitors such as the $44 billion Aditya Birla group and the $26 billion Swiss cement giant LafargeHolcim to hold on its own and also fought economic sluggishness and construction slowdown. In 2016/17, he drew a remuneration of ` 38.2 crore. The basic salary was ` 16.95 crore but commission was much higher at ` 20 crore. He also got a retirement benefit of ` 1.25 crore.

Bangur is credited with the rise of Shree Cement in the last 16 years. The cement maker, which was struggling to run its plant in Rajastan in 2002, enhanced its capacity from just around 2 MT then to around 35 MT. In 2017/18, the company posted a revenue of ` 10,160 crore as against ` 9,497 crore in the previous year. –