Profile
Strategic and hands-on CFO, a professional CA, CPA; having multi-industry exposure in Infrastructure, EPC (Engineering, Procurement & Construction), Energy, Plastics and Chemicals & Pharmaceuticals. Consistently leading strategic and tactical financial matters, as they relate to investments, budget management, cost benefit analysis, forecasting and securing of new funding. Responsible for directing the fiscal functions of the group in accordance with the best industry practices, GAAP and International Accounting Standards and evaluating accounting and internal control systems.
Competencies
Corporate Finance & Treasury Management Plan & Develop Fiscal Function
Fund Mobilization Corporate Reporting
Business Plans & Strategies Business, Legal & Statutory Compliances
Budget, Forecasting & Controls IPO(Pre & Post Listing)Management
Implementation of Internal Controls SOX & Corporate Governance
IFRS/GAAP/US GAAP Investor’s & Stakeholder’s Relations
Professional Experience
Al-Muhaidib Contracting Co. Ltd Jeddah CFO (Airport Project)
April 2015
Saudi Arabia’s leading diversified group engaged in contracting, Food & retail, real estate, financial services, building materials and construction. The company has credit to implement major projects simultaneously like construction of Sports City, Airports, Shopping Malls, Warehouses, Office blocks, Housing projects, Commercial Complexes, Schools, Waterlines and Drainage networks.
– King Abdullah Sports City – Jizan Project – Sea Outfall Project – $1.5 Billion Airport Project
The associate includes prestigious names such as Saudi Aramco, Vinci, SCECO, various Govt. Establishments and Major corporations. The entity is having 11000+ multi-cultural employees’ environment.
Responsibilities:
Heading finance function for US $ 1.5 billion Airport Project.
Sunil Hitech Engineers Limited. Mumbai Group CFO
2013-2015
A diversified group engaged in Power Plant-EPC, Power Generation, Equipment & Component Manufacturing, Sugar & Infrastructure. Group consists of a flagship public listed company and subsidiaries namely Seam Industries Ltd., Gangakhed Sugar & Energy Ltd. and Sunil Hitech India Infra Pvt. Ltd. having employee strength of 3000+.
Responsibilities:
Financial Strategies
Strategic business plans for EPC division, Manufacturing unit, Sugar division and Infrastructure vertical.
Corporate Finance
Providing financial leadership and insights for all important long and short term decisions –Treasury Management, Working capital- Cash flow planning, Capital budgeting and Break-even & ROI analysis.
Managing Fund & Non-Fund based bank credit limits of more than INR.15 Billion for the group.
Stakeholder Management: Build and maintain collaborative relationship with all internal and external stakeholders including banks, lending institutions, PE Funds, auditors, investors and creditors.
Accounts/Audit/Compliances
Financial Reporting: Steering overall accounting function including periodic financial statements, reports, analysis, consolidation and timely MIS reports. Ensuring compliances to accounting standards and establish an appropriate internal control and systems of procedures (SOPs). Supervising a team of 80 members including direct reporting of 12 qualified CAs, CS, ICWAs from Corporate, Secretarial & Legal.
Completing various post public issue compliances with Stock exchanges & regulatory authorities
Project Accounting: Analysis of contractual provisions and adherence to commercial aspects of contracts and contract accounting.
Audits: Facilitating & coordinating with statutory & internal auditors for audit compliances, clarifications & ensuring compliances are carried out as per IFRS or GAAP.
Corporate Governance and compliances of regulatory provisions.
Business Management
Participating in Board and Management committee meetings for periodical reviews of:
Performance with vertical heads and Project Reviews.
Business plans and Finance & Accounting reviews.
Risk Management
Monitor all open legal issues involving the company, scrutinize and mitigate key elements of the company’s risk profile.
Assessing all prospective contracts, Legal and Contractual obligations, commercial negotiations & tenders.
Information Technology
Implementation of up-gradation ERP version of Microsoft Navision Ver.9
Suzlon Group. Head of Finance
2010- 2013
Suzlon Energy Ltd. is a US $ 4 Billion MNC and one of the top wind turbine manufacturing companies in the world. The company is spreading into Renewable Solar Energy and having businesses into EPC, Project Management, Industrial & Institutional projects and Special Economic Zones (SEZs) in India through:
Aspen Infrastructures Ltd. – Developing SEZs in India & developed large sized projects.
Synefra Infrastructures Ltd. – EPC, Project Management & Solar Power Projects.
Responsibilities:
Financial Strategies
Formulation of financial strategies & implementation of strategic business plans, expansion & acquisitions. Collaborate with MD and management team in establishing financial and strategic goals for the organization.
Identifying, evaluating new businesses ventures and supervise acquisition, due diligence and negotiations.
New Project: Significantly contributed in strategic decision of diversifying into 500 MW Solar Power Project.
Corporate Finance
Efficiently controlling fund management while mobilizing short & medium term working capital finance from financial institutions and banks;
Arranged Fund & Non-Fund credit limits for projects:
Restructured Debt of INR.1.75 Billion from IDFC.
Negotiated & finalized INR. 6 Billion Funding from foreign institution.
Developed collaborative relationship with banking & lending institutions.
Accounts/Audit/Compliances
Project Accounting: Analysis of contractual provisions and adherence to commercial aspects of contracts and contract accounting. Worked closely with Big4 audit firm Ernst & Young.
Corporate Governance and compliances of regulatory provisions.
Business Management: Conducting periodical reviews:
Performance Review with Project vertical heads;
Monitoring of periodic organizational performance against targets;
Strategic and planning review.
Risk Management
Monitor all open legal issues involving the company, scrutinize and mitigate key elements of the company’s risk
Construct reliable control systems and ensure compliance of all legal and regulatory requirements.
Maintain appropriate insurance coverage.
Assessing all prospective contracts, Legal and Contractual obligations, commercial negotiations & tenders.
Information Technology
Worked under SAP-Fico ERP environment.
Amiantit Oman Co. LLC. Oman Chief Financial Officer
2008- 2009
One of the largest manufacturing company in Oman and a Joint Venture of BAHWAN & OMZEST groups, is engaged in producing Hi-tech HDPE & PVC pipes, Contracting, Roto-mould Products, YAMAHA Boats and construction of GRC/GRP modular structures, entity is having 1000+ multi-cultural employees’ environment.
Responsibilities:
Financial Strategies
Prepared the growth strategies that facilitated extensive additional business.
Pricing Strategy: Awarded four major contracts, the grounds being, dynamic costing method which resulted into increased sales and profits.
Corporate Finance
Successfully formulated and delivered annual business plan including expansion, organizational policies.
Financial modelling & Executive Board Presentations for critical financial decisions and expansion.
Accounts/Audit/Compliances
Steering overall accounting function including periodic financial statements, reports, analysis, consolidation and timely MIS reports.
Functional guidance to ensure standardization of Accounting practices across the organization and setting of KRAs;
Analysis of cost drivers and areas of potential concern, initiating corrective action when necessary.
Facilitating & coordinating with statutory auditors – PWC for audit compliances, clarifications & ensuring compliances are carried out as per IFRS.
Commercial Affairs
Significantly developed & updated SOPs for the Finance and Accounts & Procurement functions.
International Patent registration.
Conducting periodical reviews:
Budget and Expenditure : Monitoring of periodic organizational performance against targets;
Finance and Accounting review;
Risk Management
Assessing all prospective contracts, legal and contractual obligations, commercial negotiations, tenders & evaluation of business risks.
Information Technology
Re-implementation of JD Edwards ERP Software.
Refnol Resins & Chemicals Ltd. Sr. General Manager & CFO
1993- 2007
A Public listed KHATAU group chemical manufacturing company having units in UAE, Bahrain, Egypt, Kenya, & Mauritius. The company manufacture specialty sizing chemicals, textile enzymes and polyester resins. Responsibilities:
Financial Strategies
Public Issue:
Judiciously handling of Initial public issues – IPO, Conceptualizing, drafting of prospectus, follow-up with merchant bankers, stock exchanges & regulatory authorities while completing various post issue compliances including secretarial and legal matters.
Business Expansion & Management
Successfully formulated business plan for expansion of business operations in Middle East.
Successfully uplifted the Operation of the company in FY 2003, following a period of slumping growth and reinvigorate the company plagued with productivity issues
Administer the operations of company & responsible for smooth and optimum level of functioning of entire manufacturing plant.
Entrusted with additional responsibility of heading the committee responsible for production, procurement and payment functions of the company.
Corporate Finance
Financial leadership and insights for all important long and short term decisions –Treasury Management, Working capital- Cash flow planning, Capital budgeting.
Fund raising by External Commercial Borrowings, WCTL, Term Loans, ICDs, FDs – Resulting into a reduction in funding cost and realized substantial interest savings in 3 years.
Short-term export financing including forfeiting & factoring.
FOREX Management including export finance & banking.
Accounts/Audit/Compliances
Steering overall accounting function, finalization, consolidation, timely MIS reports :
Compliance to Accounting Standard, internal controls & Systems.
Managed transactions pertaining to operating of overseas subsidiaries in UAE, Mauritius & Kenya.
Tax: Direct & Indirect Taxation, ensuring adherence to statutory compliances under the Companies Act, Foreign Exchange Regulations, Stock Exchange, Central Bank etc., to ensure seamless operations.
IT Implementation
Oversaw the implementation of ERP Software – ESS through the pre-rollout phase and planned change-over and ensure continuous improvement to the IT regime across the organization.
Paras Pharmaceuticals Ltd. Manager (Finance & Accounts) 1989- 1993
Paras Pharmaceuticals Limited is one of the India’s leading FMCG Company with household brands in the Healthcare & Personal care space like Moov, Merico, livon & Set Wet.
Responsibilities:
Corporate Finance
Effectively managing all banking and cash flow/working capital operations
Played a pivot role in setting up of New Project for the company including preparation of Project Report and arranging funds from financial Institutions.
Accounts/Audit/Compliances
Supervising all accounting functions including finalization, financial reporting, consolidation, MIS and interaction with internal and external auditors.
Budget and Expenditure : Monitoring of periodic organizational performance against targets;
Dealt with various authorities for resolving issues regarding Import & Export.
Direct & Indirect Taxation, ensuring adherence to statutory compliances under the Companies Act.
Information Technology
Implemented computerized accounting systems, internal controls and computer automation for effective financial reporting.
Academic Credentials
Bachelor of Commerce :- Gujarat University, India – 1984
Chartered Accountant : -Institute of Chartered Accountants of India – 1989
CPA :-American Institute of Certified Public Accountants, Colorado-USA – 2008
DATE OF BIRTH: 28th August 1964
