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Back From the Brink
From facing a potential collapse to becoming one of the best performing automotive firms in the country, Nikhil Nanda has scripted a remarkable turnaround story at Escorts
Nikhil Nanda, Chairman and Managing Director of Escorts Group - Photograph by Vivan Mehra
In the summer of 2003, Nikhil Nanda, Chairman and Managing Director of Escorts Group, found himself perspiring in the CEO s cabin of the company s factory in Faridabad on outskirts of the national capital. Despite the heat, the reason for the power cut sent a chill down his spine - the power department had stopped electricity supply as the company had not paid its bills. For a manufacturing company, it represented a point of no return, the proverbial last nail in the coffin. ....

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