GM Commercial
Boxco Logistics India Pvt Ltd
Total years of experience :29 years, 11 Months
Head of Commercial Functions of the Boxco Logistics a subsidiary of J M Baxi group of Companies
Integral Part of the management team in implementing strategies and formulation and implantation of SOP’s.
Key responsibilities include Analysis and Reporting of MIS, Trial Balance & Balance Sheet Month/ Year-End, Audit, Bank & Cash flow Control and Debtors & Creditors Control, Contract Finalization with Customers & Vendors, formulation of systems and SOP for Bulk Division.
Networking and regular contact with teams in subsidiaries and mentoring of young professionals
Currently working with Bhatia Brothers FZE a renowned diversified group of UAE with 22 verticals as General Manager Finance and in charge of the following divisions:
1. Oil & Gas
• C &J
• Process Packages
• BB Exports
• Petro Gulf
• TPC Retail
• OFSC (Inventory)
2. Equipments
• BB ISD Service
• BB ISD Equipment
• BB Rental
Major Responsibilities
• Analysis and Reporting of MIS, TB & BS:
• Month/ Year-End, Audit
• Payroll, Admin, Recruitment
• Bank & Cash flow Control
• Debtors & CreditorsControl
4th March 2013 till date: Working as Chief Manager Finance with IOT Infrastructure and Energy Services Limited, at Mumbai. IOT Infrastructure and Energy Services Limited is a joint venture company between Indian Oil Corporation Limited (IOCL) and Oiltanking, GMBH, Germany (OT). The entity has 4 SBU’s namely, Terminalling, EPC, Upstream Services and Renewable Energy and having 17 subsidiary companies under their wings.
As Head of MIS, I have designed reports and made presentations to the top leadership that have not only helped evaluate business performance but also serve as a tool to exercise better control over subsidiaries.
New MIS generated to roll up project level performance to Business performance, and subsequently summing up to Company performance. Developed and used insight into AS-7 Accounting for Construction Projects to generate meaningful reports.
Compilation of budgets. Preparation of Board Slides for Budget approval, Quarterly Results and Cash Flow projections.
Lead role in ensuring MIS flow to shareholders. Sharp focus on maintaining strong working relationship with the counterpart analysts in Hamburg and Delhi.
Responsible for all financial and tax matters of two subsidiary entities, one of which is audited by KPMG. Hands-on exposure to Oracle Financials.
Proactive assistance to Consolidation team for preparation and audit of Financial Statements. Awarded with a Certificate of Appreciation for exceptional contribution to the Audit Exercise FY15 leading to reduction of closing cycle time by 10 days.
Networking and regular contact with teams in subsidiaries providing inputs for MIS. Also, mentoring of young professionals.
Worked closely with the Hamburg team on an - automation project titled “FAME = Finance and Accounts made easy” involving teams in India and Germany.
Also looking after financials of two subsidiaries IOTDE & Mabagas.
Joined Shree Renuka Sugars Limited as GM Commercial. This position is reporting to and required to assist the plant Head (VP) in the various activities to ensure strict control and accounting of project expenditure, monitoring of commercial activities relating to accounts, logistics, purchase, stores during the project stage and after project completion to monitor the sales and warehousing activities. The commercial production has started in end July 2011 and the capitalization of the project is a major thrust area and since the plant is new, the position requires framing of policies and guidelines relating to the commercial activities following the policy framed by the corporate. In the project stage 30 management staff is reporting to this position, which will increase to 38 once the plant operations are stabilised. This position also needs to ensure proper manning in the commercial department.
The principal accountability of the position is as follows :
Accountability
Project Cost Control
Project Capitalisation
MIS
Liaison with Banks, Excise, Sales Tax, Port, Customs, Railway Authorities
Ensure proper monthly accounts closing and audit of the same.
Planning & Budgeting of Revenue & Capital Expenditure
Internal Control procedures implementation
Working Capital Monitoring
IT activities
Purchase activities
Stores Control
Statutory Compliance
Logistics Monitoring
Warehousing activities (both raw sugar ang finished product)
Sales Accounting (after stabilisation of operational activities)
Worked in Shree Renuka Sugars Limited as GM Commercial, at Kandla refinery having refining capacity of 3000 MT/day and a 45 MW captive Power Plant This position is reporting to and required to assist the plant Head (VP) in the various activities to ensure strict control and accounting of project expenditure, monitoring of commercial activities relating to accounts, logistics, purchase, stores during the project stage and after project completion to monitor the sales and warehousing activities. The commercial production has started in end July 2011 and the capitalization of the project was done in February 2012. Since the plant is new, the position requires framing of policies and guidelines relating to the commercial activities following the policy framed by the corporate. In the project stage 30 management staff was reporting to this position, which increased to 38 permanent employee after commencement of plant operations. This position also needs to ensure proper manning in the commercial department which includes Accounts, Logistics, Sales, Purchase, Stores & IT.
The principal accountability of the position is as follows :
Accountability
Project Cost Control
Project Capitalisation
MIS
Liaison with Banks, Excise, Sales Tax, Port, Customs, Railways and Govt. Authorities, likes Food Ministry, Civil Supplies Department.
Ensure proper monthly accounts closing and audit of the same.
Planning & Budgeting of Revenue & Capital Expenditure
Internal Control procedures implementation
Working Capital Monitoring
Costing Activities
IT activities
Purchase activities
Stores Control
Statutory Compliance
Logistics Monitoring & Coordination with CHA
Warehousing activities (both raw sugar and finished product)
Sales Accounting
Major Achievements :
1. Achieving a dispatch rate of 7400 MT and an intake rate of 18000 MT per day with two operational weighbridge with proper planning.
2. Ensuring dispatch earning from import/ export vessel to the tune of US$ 1 lakh.
3. Reduction of CHA cost though negotiation from Rs.270/=pmt to Rs.227/= pmt for coal import, from Rs.325/= pmt to Rs.303/= pmt for raw sugar import and from Rs.345/= pmt to Rs.329/=pmt for export of white sugar. The savings to the plant as on date due to above reduction is Rs.84 lakhs.
4. Scrap sales mostly (PP bags) to the tune of Rs.2.25 crores.
5. Part of the project capitalization. The total project cost is 732 crores.
6. Warehouse handling to the tune of 2.5 lakh tons of Raw sugar storage, 1.1 lakh tons of coal storage and 1.8 lakh tones of bagged sugar.
1. To Monitor the Fabrication cost of Aluminium sheets of the plant.
2. To facilitate and ensure smooth monthly closing of accounts and reconciliation of Inter plant transactions and facilitate the Internal and Statutory Audits.
3. To ensure smooth metal movement to various plants through coordination and monitoring
4. Reduce procurement cost through negotiations and rate contracts.
5. To facilitate decision making by analysing production, despatch and other efficiency parameters and to drive performance and attack the areas for cost reduction
6. To produce an enriched, reliable Management Information System ensuring timely reporting of various efficiency and cost parameters.
7. Monitoring of stores related activities and ensure optimum storage of material and timely issue.
8. Ensure proper implementation of Oracle AP, GL in the Unit.
9. Monitoring the Capex
10. Planning and budgeting of the both Plant’s Revenue and Capital Expenditure