![Ajay Pandya, Head of Finance [Voltas Ltd] and CFO [UMPSEL]](http://secure.b8cdn.com/images/uploads/user_photos/63/1105363_20190702044422.jpg)
Head of Finance [Voltas Ltd] and CFO [UMPSEL]
Voltas Limited [ A TATA Eneterprise]
Total years of experience :28 years, 2 Months
Voltas Limited, A Tata Enterprise incorporate in 1954. \[68 years of existence\]
The UMPSEL is a spin off of B2B business in MEP field and nearly 2000 Crs. of business with core business areas of - MEP, HVAC, Solar, Water Solutions, Textile Machinery and Mining & Construction business. Span across India, having offices in 32 Locations. Managing team of 50+ finance & commercial professionals across 4 zones and 7 business verticals.
Areas of Responsibility -
• Responsible for setting up annual Budgets for all the verticals and monitoring the same on Monthly / Quarterly basis. \[in SAP environment\]
• Preparing monthly/quarterly Flash, CMG, Board reports for Management Team.
• Getting limited review audit done with the help of Statutory Auditors - M/s EY.
• Presentation of financials on quarterly basis to Board Audit Committee, Board Members and arranging submission for publishing press release for financial numbers.
• Setting up Business and Finance related SOP’s and implementing DOA’s.
Areas of Responsibility -
• Responsible for setting up Budgets for all the verticals and monitoring the same on Monthly / Quarterly basis.
• Preparing monthly Business Review Pack for Management Team (including promoters).
• Setting up Chart of Accounts and Delegation of Authority (DOA) Matrix for SPICCL and other group Co’s.
• Coordinating with Statutory (M/s PwC), Internal and Group Auditors on regular basis.
• Filing of IT Returns in co-ordination with Tax Consultants (M/s Deloitte)
• Setting up processes and procedures to strengthen internal controls.
• Extending support to CFO in achieving Financial Closure for various ECB / Term Loans.
• Working with commercial team on documentation of Land acquisition.
• Recruiting and Training finance professionals for HO and locations.
• Arranging Finance for short term / working capital requirements.
Overseeing Pan India finance operations, spread across 4 regions of India.
Responsible for Annual Financial Planning, Budgets, Accounts, Cash Flows, Statutory and Internal Auditors, DOJ Audit of USA, India Statutory compliance and US GAAP & SOX compliance.
Received "Above and Beyond Award" for Successfully leading the Shared Services team and integrating all India BE Team.
Reporting to: Divisional Finance Manager
Al Futtaim Engineering- The company provides turnkey engineering products and solutions to construction industry in UAE and has 6 divisions - Elevators & Escalators Division, MEP Division, Scaffolding & Foam work Division, Building Products Division, Air conditioning Division and Security Systems.
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Areas of Responsibility -
• Preparation of Annual Budgets for 3 Strategic Business Units (SBU) of Al Futtaim Group - AL Futtaim Engineering, DFC District Cooling Co. and Hamad & Mohd. Al Futtaim WLL Qatar.
• Ensure achievement of Monthly / Annual SBU Budgets in co-ordination with Divisional Managers and General Managers.
• Reporting monthly P&L, Balance Sheet, Cash Flow, etc to Managing Directors / Group Directors.
• Review of Working Capital (Debtors / Inventory / Creditors) and Cash Flow on monthly basis.
• Monthly Reviews of outstanding with Sales Team / Credit control cell.
• Preparation of Business Review Meetings on monthly basis (Presentation to Directors)
• Preparation of Feasibility Studies for new business opportunities and Joint Ventures.
• Due Diligence process for Mergers & Acquisitions.
• Periodical reviews and negotiations with major principals, on commercial terms.
• Setting up processes and procedures to strengthen internal controls.
Received an Award of "Best Financial Controller - Year 2006" among 14 Al Futtaim SBU's.
Reporting in to GM Finance
Overseeing the entire Indian operations, Preparation of annual Budgets, Monthly / Quarterly forecast, Balance Sheet & Profit and Loss Accounts, State wise / Brand wise / Pack wise Profitability and other key Management reports, Commercial aspects like make or buy, review of tie-up arrangements, Setting up SOP’s for various functions of finance, Preparing & Presenting Business Plan, Variance Analysis with Budgets, Setting up and meeting quality goals on monthly basis, etc.
Reporting in to Vice President Commercial functionally, with dotted line to GM Finance - HO
Heading West Zone of the Company Which contributed 60% of India revenue.
Managed four departments viz. Billing / Credit Control/MIS/Accounts. Part of Western Region Core Team. Key functions were - Vendor Development, Developing & Implementing Systems, SOP’s, Credit Appraisal of Clients, ensuring achievement of Quality Goals set on monthly basis, Variance Analysis, Budgeting & Forecasting, Monthly-Quarterly review’s, etc.
Reporting to Senior Manager - Accounts & Commercial.
Managed Accounts for Mumbai & Calcutta, Project Costing, Reconciliation of Project Cost against LOI - Cost Sheet, allocation of Material - Man hour - Overheads to Projects, reporting on Cost Overruns and Variances, Maintaining Project wise outstanding - RA Bills - Collections - unbilled receivables - billing in excess of cost.
Interacting with Internal Auditors, Statutory Auditors - M/S Price Waterhouse Coopers - for finalizing annual accounts, Statutory Compliances.
Reporting to Finance Controller - India
Leading mumbai team, taking care of routine accounts, branch accounting, reconciliation’s - Bank / Stock, inventory valuation, payroll processing & staff taxation matters, managing Mumbai receivables - network of 300 dealers, conducting educative seminars for branch accountants, etc.
Did certificate course from The Institute of Chartered Accountants of India
Pursuing IFRS Diploma with ACCA - UK