Financial Controller
Total years of experience :52 years, 6 months
Presenting the financial performance to Hold Co Board (Singapore) and discussion on strategic directions
▪ Ensuring compliance of Direct & Indirect Tax, Effective Litigation management resulting in winning the cases with
exposure of more than INR 150 cr. Addressing various irregularities on secretarial compliance
▪ Introduction of Concurrent audit and enhancing scope of Internal audit, ensuring implementation of Actions Taken Report
(ATR) thereby bring in great focus and improvisation of various operating and accounting controls. Laying down various
SOPs for effective management of Centre
▪ Leading the secretarial department and ensuring compliances are in place
▪ Introducing strict month closing process, Introduced Limited Review Report by Stat Auditor, half yearly SEBI filing, taking
care of SEBI reporting
▪ Financial closure of 6 legal entities as per IND AS and IGAAP. Consolidating multi division books of a Debt listed company
▪ Reconstruction of Management Information system. Managing the process of financial forecasting and overseeing the
preparation of financial reporting
▪ Fund Flow/Cash Flow forecasting, Treasury management, liasioning with Lenders & Credit Rating agencies, Engaging 3rd
party valuers for valuation of assets
▪ Creation and Digitisation of Fixed Assets Register. GST E Invoicing implantation across companies
▪ Revamping of IT Framework around the business controls, accounting controls, creation of various control frameworks
viz authority Matrix / approval matrix, Finance SOPs, initiated & driving IT automations etc.
▪ Performing risk management by analysing risks associated with different properties. Taking Insurance to next level, saved
more than INR 15 MN (Perpetual savings) with increase in many add on coverages
▪ Handling 2 greenfield projects (Chennai & New Delhi) for a period of 2 year
▪ Handling finance & accounts of 55 keys hotel (The Waverly) for a period of 2 years
▪ Handling Co working space (The HIVE) for a period of 1 year
▪ Besides above, handling conventional roles of CFO like, Annual Operating Plan, Accounting & MIS, Cash Flow planning,
Financial Closure (IGAAP/IND-AS), Taxation management, Secretarial compliance, Debt Compliance, Internal Audit /
Controls & process, Risk Assessment & Insurance etc.
VR group - 6 legal entities out of which
1 is Debt listed), 6 operational Malls with a team size of 36 and handling business size of over 700 cr. VR is India's leading
Institutionally backed integrated retail platform, that designs, develops, owns and manage community-oriented lifestyle
centre across the country. VR is aggressively expanding its pan-India portfolio which currently includes flagship Centre VR
Surat, VR Bengaluru, VR Punjab, VR Chennai, VR Nagpur & VR Ambarsar.
Budgeting, Accounting & MIS:
▪ Preparation, Finalizing & Monitoring of the Annual Operating Plan (AOP), CF Planning, Capital Budgeting
▪ Timely review & analysis of operating revenue & expenses vis-a-vis plan, profitability, stocks, SOPs, etc. & taking corrective
action as a team for a smooth & efficient operation
▪ Strict monthly book closure, quarterly result declaration, supervising in preparation of Balance sheet, Profitability Statement
and Annual Reports, Managing the statutory audits, IFC Audits etc.
▪ Bringing substantial reduction in Advances, ensuring 100% collections, ensuring business agreements in place, instituting
a discipline of timely reconciliation of accounts with major vendors & customers
▪ Substantial improvement in WC thru reduction in debtor’s days (160 to 130), stock holding days, better negotiations in
credit terms with Creditors, Taking cost control initiative through constant monitoring system
▪ Defining / Establishing a robust accounting framework - defining optimal systems & standards in conjunction with all
business functions - Operations, Merchandising, Marketing, HR & IT for correct & timely capturing of revenues & expenses,
stabilising SAP implementation in 2010
▪ Working with CEO in analysing / developing various business growth strategies (both organic & inorganic) and decision
process, formulating need-based Business Plans / strategies for maximizing profitability & revenue generation and realize
and Elevated to Asst. Mgr. in April 2004
to take care fast growing Food Vertical (both Retail and manufacturing). Promoted as
Quarterly review of internal audit report in “Samiksha” with audit committee
▪ Bringing internal audit as part of the business process
▪ Strict financials control helped in unearthing frauds viz., false claims etc.
▪ Understanding & Mitigating business risks, financial risks & strategic risk. Monitoring & taking appropriate insurance
coverage, maintaining tracker of all IPR, Design & Logo registrations, Tacker of all legal dispute to comply in all legal and
regulatory matters, strict monitoring of business ops, ensuring record keeping meeting requirement of law, implementing
projected financials for every new store and monitoring etc.
Fund raising / Treasury management / Insurance:
▪ Liaising & Negotiating with Banks for renewal and enhancement of Working Capital (>160 cr.) as well as raising of Term
Loans at favourable terms to meet fund requirements, Managing FDI Investor in Mother Earth with fund raise of USD 0.2
million.
▪ Effective cash flow management budgeting, rolling CF Forecast, monitoring the weekly/monthly CF budget vs. actual,
formulation, implementation & monitoring of Capital Budget, WC budget etc.
▪ Optimizing the cost of fund thru through reduction in rate of interest under multi banking arrangements, FCNR, Hedging, LC
rate reduction, Cash discount with creditors
▪ Ensuring adequate coverage of assets / employees from all types of risk. Savings in Insurance Cost YoY with optimum
coverage of all assets of the company
▪ Carried independent insurance audit and took corrective actions to mitigate potential risk
▪ Improvement in credit rating by 1 notch and carrying out credit rating thru ICRA, CARE
Taxation:
▪ Ensuring legal, secretarial, Statutory & regulatory compliance for VAT / PF / ESIC / PT / Service Tax / Excise / Companies
Act and various other Retail & commercial laws, Tax planning tec.
▪ Carrying IT assessment and ensuring smooth completion of IT assessment with refund
▪ Managing litigation & winning case in Appeal for MH VAT assessment, Central Excise, Lease related etc.
▪ Regularization of various states VAT audits, C forms, F forms collection
▪ Successful completion of many VAT & CST assessment of 18 states for different years
Merger & Acquisition
▪ Leading acquisition of Brand Giovani under slump sale in May 14
▪ Helping in demerger of Indus League Clothing Limited in its holding company and from there to Future Lifestyle Fashions
Accounting & Auditing→ Working on ABP, reviewing Zonal accounts, Accounting & Recovering National Income of Rs.75
cr. p.a., Review of accounts receivables and accounts payables (outstanding position, bill booking pending status) and
handling Internal Audits, shrinkage Controls.
• MIS Reporting→ Financial performance analysis on a monthly basis and presenting reports to LOB CEO & Retail CFO,
monthly debtors, stock report & other MIS to corporate accounts and treasury
• Treasury→ Daily / Weekly / Monthly CF monitoring, preparing half-yearly rolling cash flow forecast against AOP
• Private Labels → Doing costing of the Own Brand product, preparing sourcing matrix, looking into legal aspect, finalizing
legal contracts, preparing vendor database, approving vendor introductions, finalizing Annual Business plan and
monitoring deviations, margin re-negotiations etc.
• Business Involvement & Additional Responsibility → Analysis & approval of commercial terms of National Agreements
with FMCG companies, finalising TOT in Staples category, setting up of collection and distribution canters for F&V to
bringing efficiency & economy in the F&V procurement, taking position in Bulk procurements, Analysing the commercial
viability for the new projects, Handing independently the SIS function of dry fruit, tea, coffee and pickle category. This
includes inter alia selection of stores, selection of vendors, negotiating the terms of trade, allocation of space, calculating
psqft return in sales and margin.
▪ Achievement:
o Introducing dump booking system in all stores thereby deriving accurate margin from Fruits and vegetable
category. Handled the entire commercial functions of the project “Food Bazaar on Call” - an independent home
delivery business & also handled west zone commercial activities also for a span of two and half year as an
additional responsibility
Carried out various work of statutory,
courses: ▪ Certificate course in IFRS KPMG