Rules and Regulations

1. All teams must submit a PowerPoint presentation (.pptx), not a PDF.

2. The presentation should not contain more than 10 slides, excluding the Introduction,
Thank You, and Annexure slides.
3. Teams can embed excel worksheets or any additional workings in the PPT itself or
submit them along with the PPT.
4. Teams must answer all the questions stated at the end of this case document. The
solution presented should cover all the problem statements mentioned in the case.
5. Teams are strictly required not to mention the name of their institute/organization
on any slide of the presentation.
6. Teams are free to use any supportive information from outside sources. But they need
to mention the source for the same. Feel free to make any logical and relevant
assumptions if required.
7. Submission details of the case solution:
• The last date for submission is 22nd December 2021, 11:59 p.m.
• Naming Convention - Team Name_Finertia 5.0 “ Finbuff_Finertia 5.0 ”
• Teams must submit their presentation on the D2C platform: Link
8. The presentation will be evaluated by renowned judges & faculty members, post
which the Top 10 teams will be invited for the Final presentation round virtually.
9. The final presentation round will be held on 26th December 2021. Details and timings
regarding the same will be communicated later.
10. The time allotted for each presentation is 10 minutes, followed by a Q&A session by
the judges.
11. The final decision remains with the judges and the Finance Club of IMI, Delhi.
Case Details

Case Details

Cement Scenario in India

Since there’s a lot of push on Real Estate (housing for all scheme) and Infrastructure Push
by the Government, over the past few years, cement producers are in the light.

Over the past few years, the consolidation process started in Cement Industry. Since
cement production is heavily localized and depends a lot on raw materials like pet coke,
the consolidation creates synergy.

Shree Cements has a solid position in the northern part of India with sales of 13,000+ Cr
and making almost 2,200+ Cr as net profit.

The liability position looks very solid with only 2,000+ Cr on the books. On the other hand,
India Cement has a strong position in the southern part of India. With the strong sales of
4,500+ Cr. The net profit looks very weak at 200+ Cr only. The profit is also not consistent.

For India Cement, the liabilities are among the highest in the industry with 3,000+ Cr on
the books.

With competitors like Ultratech Cement which recently acquired Jaypee Cement and
Holcim has ACC and Ambuja under its arm, Shree Cement is exploring the option of
buying India Cement to stay relevant and firm in the market.
Questions on the case
• Evaluate the Shree Cement’s acquisition of India Cement. Justify the acquisition
from both quantitative and qualitative perspectives.
• What price needs to be paid by Shree Cements, if they need to buy India
Cements?
• Is any synergy created?
• Even if the merger happens, does India Cement fit into Shree Cement?

Information Provided
• Access annual reports of Shree Cements.
• Access annual reports of India Cements.

Participants are free to access all other information available on the internet for their
analysis. However, pure copy and paste won’t get you the desired results.

Case study sponsored by: FinShiksha

Best of luck