Working as the General Manager of Finance with River Engineering Pvt Ltd & Stesalit Limited, leading manufacturers of high-end electronic and electric products for locomotives, coaches, and electric multiple units (EMUs) primarily for Indian Railways, with a turnover of Rs 400 Crores, my key responsibilities include:

Corporate Finance and Banking:

• Conducting fund raising activities, negotiating and documenting loan agreements, creating securities, and ensuring post-disbursement compliances with banks for working capital loans, term loans, machinery term loans, LCs, and BGs. (Successfully raised and managed funds exceeding INR 1000 million)
• Ensuring 100% compliance with bank covenants and adhering to RBI/banking regulatory requirements.
• Preparation of CMA (Credit Monitoring Arrangement) and analyzing it in line with the fund’s requirements.
• Collaborating with credit rating agencies for securing and updating credit ratings, including annual reviews.
• Preparing and submitting project finance reports to lenders for expansion projects, including computation of payback periods.
• Coordinating with various advisory agencies and bank representatives for efficient financial management.
• Managing working capital through a combination of internal accruals and bank borrowings.

Business Finance:

• Conducting product costing activities, validating the Bill of Materials (BOM), loading variable and fixed costs, and determining the cost of each product.
• Finalizing bid prices for tenders based on product cost analysis and historical bid pricing trends, considering market competitiveness and business win strategies.
• Controlling costs (Opex & Capex) and conducting business feasibility analysis for government projects.
• Analyzing the cost-benefit of Annual Maintenance Contract (AMC) business contracts.

During my tenure as the General Manager of Finance at UPS Pvt Ltd, an auto ancillary company with a turnover of Rs 250 Crores, I was responsible for the following:

• Availed forward cover, opened new LCs (Letter of Credit), managed EPC/PCFC (Export Packing Credit/Pre-shipment Credit in Foreign Currency), checked inward remittance documents, facilitated import payments (TT), negotiated exchange rates with banks through external agencies, and cleared IDPMS/EDPMS entries.
• Handled foreign exchange exposure and ensured adequate hedging through forward contracts.
• Minimized exchange fluctuation losses through natural hedging and obtaining favorable exchange rates from banks.
• Conducted weekly/monthly fund planning to effectively manage working capital during cash crunch situations.
• Worked with credit rating agencies to secure and update credit ratings, including annual reviews.
• Coordinated with various advisory agencies to support financial decision-making.
• Prepared financial statements, including the balance sheet, and facilitated the audit process.
• Liaised with insurance providers and agents to obtain insurance coverage for various business requirements.
• MIS – Meeting Rigorous Deadlines.

I worked as the General Manager of Finance at Avon Tubetech Private Limited, with a turnover of Rs 250 Crores. My key responsibilities included:

Corporate Finance and Banking:

• Raised and managed funds exceeding INR 1250 million through fund raising activities, negotiations, and documentation. Managed post-disbursement compliances with banks for working capital loans, term loans, channel funding, machinery term loans, LCs, buyer’s credit, and BGs.
• Ensured 100% compliance with bank covenants and adhered to RBI/banking regulatory requirements.
• Identified borrowing needs and assisted in determining the proper debt-equity ratio and current ratios.
• Prepared CMA (Credit Monitoring Arrangement) and conducted analysis to meet the fund’s requirements.
• Handled various banking transactions, including forward cover availment, LC opening, EPC/PCFC, inward remittance documentation checking, import payments (TT), exchange rate negotiation, and IDPMS/EDPMS entries clearance.
• Managed foreign exchange exposure and implemented hedging strategies through forward contracts.
• Minimized exchange fluctuation losses through natural hedging and obtaining favorable exchange rates from banks.
• Conducted weekly/monthly fund planning for effective working capital management, especially during cash crunch situations.
• Worked with credit rating agencies for securing and updating credit ratings, including annual reviews.
• Prepared business plans to position the company for future growth and shared them with investors.
• Prepared project finance reports and submitted them to lenders for expansion projects.
• Coordinated with various advisory agencies to support financial decision-making.

Audit, Taxation & Compliance:

• Prepared financial statements, including the balance sheet, and coordinated the audit process.
• Prepared submissions and complied with notices issued by the Income Tax Department for regular assessment cases.
• Liaised with auditors for tax-related audit work.
• Computed income tax liability, advance tax liability, deferred tax, and MAT (Minimum Alternative Tax).
• Planned income tax liability aligned with banking exposure and funding requirements.
• Ensured timely filing of all GST returns and conducted reconciliation.
• Assisted in tax planning for promoters’ family members, including salary bracket finalization.
• Prepared promoters’ wills, relinquishment deeds, and facilitated their registration.
• Ensured compliance with secretarial requirements related to loans, board meetings, minutes, and members registers.
• Monitored the preparation of share certificates and provided necessary details to the Company Secretary’s office.
• Liaised with advocates for legal cases and provided requisite information.

During my tenure as the Finance Head of Siac SKH India Cabs Manufacturing Pvt Ltd and SKH Sila India Private Limited, entities of the Krishna Maruti Group with a combined turnover of Rs. 610 crores, I successfully managed various responsibilities and challenges. Here are the key highlights:

Financial Planning, Financial Reporting, Financial Control and Financial Strategy :

• Planned, finalized, and controlled annual and quarterly financial statements in accordance with Ind AS (Indian Accounting Standards and Italian GAAP), including posting entries, presentation, and adoption of audited results by the board of directors twice a year.
• Prepared, reviewed, analyzed, and finalized budgets and forecasts, presenting them to the board of directors twice a year.
• Implemented budgetary control for operating expenses (Opex) and capital expenditures (Capex).
• Prepared monthly management reports (MIS), conducted analysis, and presented them to the management.
• Presented financials with analysis in quarterly board meetings.
• Ensured ownership and adherence to company policies.

Price Negotiations and Costing :

• Checked the feasibility of price increases/actualization with vendors and provided approval notes.
• Prepared expense details for annual negotiations with customers, drafted letters, and submitted them through the marketing department.
• Conducted in-depth analysis of quotations (RFQ) for new models/products before submission to customers, in collaboration with the marketing department.
• Designed product costs for new businesses (VW) and computed product costs for existing models/variants.

Banking and Cash Flow Management :

• Prepared actual cash flow and forecasted fund positions on a weekly basis, facilitating payment plans for overdue trade payables and arranging funds from banks and customers.
• Managed export packing credit, PCFC (Pre-shipment Credit in Foreign Currency), buyers’ credit, WCDL (Working Capital ● Demand Loan), adhoc limit, and rollover of existing cash credit limit.
• Ensured RBI compliance regarding ECB (External Commercial Borrowings) and prepared necessary documents for BRC (Bank Realization Certificate) issuance.
• Authorized payments to vendors after thorough verification and signed cheques.
• Effectively managed funds during cash crunch situations.

Fixed Assets and Accounts Receivable / Payable Management :

• Oversaw the movement of CWIP (Capital Work in Progress), capitalized assets, and maintained a fixed assets register.
• Controlled accounts payable and accounts receivable reconciliations, coordinating with customers for advance payments against sales. Managed debtors and credit controls effectively.

Taxation and Incentives :

• Implemented GST (Goods and Services Tax), including designing sales invoices, coordinating with customers and vendors, and ensuring compliance with GST requirements. Reviewed and paid GST returns before submission to the GST portal.
• Coordinated with the team, vendors, and customers for the closure of tax cases from the pre-GST regime.
• Prepared tax audit reports (3CA, 3CD, and 3CEB) and reviewed them before issuing and uploading them on the portal.
• Provided necessary details for transfer pricing studies and collaborated with audit firms to complete the study.
• Prepared details and claimed export incentives such as MEIS (Merchandise Exports from India Scheme), rebate claims, LUT (Letter of Undertaking), and EPCG (Export Promotion Capital Goods) benefits.
• Finalized details for income tax scrutiny cases and submitted them to the department through an external agency.

• Managed the accounts receivable and accounts payable process.
• Prepared monthly management information system (MIS) reports and conducted analysis of variances.
• Coordinated with auditors and summarized audit reports.
• Finalized the financial statements of the unit.
• Monitored and controlled vendor payments.
• Prepared the unit budget.
• Created PowerPoint presentations for quarterly and half-yearly presentations.

• Consolidated accounts of the listed company with subsidiaries, joint ventures, and associate companies (9 entities) in accordance with accounting standards such as AS 21, 23, and 27.
• Managed accounting policies, notes to accounts, balance sheet, statement of profit and loss, and cash flow statement for the consolidated financial statements.
• Scheduled, planned, and coordinated with auditors for the external audit and tracked internal audit activities.
• Ensured compliance with accounting standards (IGAAP) and internal policies by the group companies.
• Consolidated the financial statements of the listed company with the 9 entities.
• Conducted benchmarking exercises with competitor companies.
• Participated in quarterly limited review meetings with big 4 auditors.
• Prepared quarterly financial performance reports and PowerPoint presentations for the CFO and presented them to the board of directors.
• Summarized internal audit reports, analyzed findings, and addressed issues raised by the units. Presented the reports in audit committee meetings.
• Assisted in the preparation of the business plan.

Financial Analysis, Reporting and Financial Strategy :

• Prepared cash flow statements and ensured availability of free cash for quarterly performance review meetings.
• Conducted monthly reviews, consolidations, and analysis of profit and loss accounts and balance sheets for 14 plants.
• Prepared bridge charts and conducted gap analysis between budgeted and actual figures on a monthly basis.
• Consolidated and reported monthly unit sales with gap analysis.
• Analyzed inventory trends, calculated inventory days, and monitored inventory circulation across departments.
• Conducted physical verification of inventory and ensured accurate inventory valuation.
• Prepared monthly expense reports with gap analysis for budgetary control.

Statutory Audit and Compliance :

• Ensured smooth completion of quarterly limited reviews and supported units with audit packs, including balance sheets, profit and loss accounts, cash flow statements, segment reporting, and notes to accounts.
• Coordinated with internal auditors, summarized their reports, and discussed findings with the CFO. Addressed queries from plant finance heads.
• Prepared, reviewed, consolidated, and analyzed the annual budget for the 14 units.
• Conducted benchmarking exercises with competitors and best-in-class companies.
• Created PowerPoint presentations on topics such as free cash, movement in working capital, long-term borrowings, return on capital employed (ROCE), overdue debtors, inventory, and sales.
• Provided training to other departments on ROCE.
• Prepared tax audit details, handled income tax scrutiny cases, verified the correctness of TDS/TCS deductions, and filed service tax returns.
• Prepared Standard Operating Procedures (SOPs) for financial processes.
• Demonstrated familiarity with SEZ (Special Economic Zone) workings.

Article Ship Training :

• Completed article ship training from a Delhi-based audit firm from September 2005 to September 2008.
• Conducted statutory, internal, and tax audits for various Kundli-based (Sonepat) carpet manufacturing companies, including the K.C Group. Also performed audits for trading, book publishing, and service industries.

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ACHIEVEMENTS :

• Participated in overseas finance manager meet held in Hongkong and presented key challenges on the role of the finance team ahead.