Head Of Finance
Prime Wize Solutions (OPC) Pvt. Ltd
Total years of experience :25 years, 11 Months
• Submitted a proposal to the stake holders for cost and operational restructure of the client company thus to enhance the financial efficiency.
• Submitted a proposal to the stakeholders for adding additional service in the profile for the call center operations for the maximum utilization of the office space,
• Started marketing to local clients other than the international clients by developing a website and attending business networks. Discussions are in final stages with three clients for yearly contract for book keeping and accounting services.
• Instrumental in the strategic acquisition of smaller competitor brands, namely Sayhan Water and Green Water, demonstrating proficiency in business development and market consolidation.
• Played a pivotal role in setting up of an in-house bottle cleaning and filling facility within the New Industrial Area, showcasing leadership and operational expertise.
• Negotiated and concluded a partnership with UG Group, Qatar for 5 Gallon Poly Carbonate Bottle manufacturing plant which enabled the company to have a competitive advantage over other 5 Gallon water companies in Qatar.
• Availed QAR 1.2 million LC and refinance facility, QAR 300 K overdraft and QAR 1.5 million machinery finance, QAR 50 K Bonds and Guarantees facility from Doha Bank.
• Initiated the co-filling operation for other brands such as Al Riya Water, Marwa Water, Sayhan Water, Green Water & Lusail Water so that maximum production capacity can be utilized.
• Arranged to sub-lease the non-used portion of the production plant for storage facility for third party so that the monthly rental for the production plant is reduced to 50%.
• Effectively concluded the statutory audit reports since 2017 to 2021
• Successfully secured 72% financing totaling QAE 40 million for the Kahrama New Tower project at Lusail from Commercial Bank Qatar, encompassing advance and performance guarantees, showcasing adept negotiation and financial management skills.
• Negotiated and availed 55% finance amounting to QAE 20 million for the Abdul Wahab Golam Tower at West Bay from Doha bank Qatar including the advance and performance guarantees.
• Restructured the finance of QAR 18.3 million which was overdue for Doha Bank for the Al Jassmya Project
• Availed 23 million Finance for the project Le Pavilion at Lusail.
• Instrumental in establishing a project joint venture (JV) with Argon Global Group, demonstrating strategic partnership and collaboration acumen
• Effectively managed to set up complete financial system based on IFRS.
• Served as one of the key leaders in effectively managing the unit into profitable unit and maintaining the net profit margin more than 20% from the financial year 2007.
• Successfully implemented FIMS ERP, Accent Time Attendance System and Inflow Inventory & Strategically restructured financial reporting processes in accordance with organizational changes and reduced monthly closing cycle by 15 days.
• Efficiently reduced the receivables turnover cycle to 2 months from 5 months and reduced the provision for doubtful debts to 1% of sales from 3% of sales.
• Remarkably improved the cash flow by strategically modifying the contractual terms in purchase & sales and reducing inventory.
• Eliminated related party borrowings of AED 26 million to related party lending dirham 6 million in 6 years through proper transfer pricing methods.
• Flawlessly negotiated to avail yearly $25, 000/- government grant for promoting Indian tea from tea board of India.
• Proficiently set up a packing unit in Moscow to reduce the import cost and hence reduce the selling price.
• Successfully established tea tasting and sampling promotions in the chain stores such as Mega mart, Sedmoy Continent, Carrefour, Perekreostak, Pyaterochka etc. which resulted in 3% growth in chain market sales.
• Managed to get the shelf space above average man’s shoulder level in the prestigious super markets.
• Played a key role in increasing the revenue by US$290, 000/- monthly by expanding customer base from retail shops to chain markets to “Reenoks”.
• Managed to increase the sales from 90 ton to 125 tons per month by acquiring adequate export credit facility from UCO Bank
• Reduced cost of sales by identifying & eliminating middlemen in the purchasing process.
• Managed to accumulate land & buildings by US$120, 000/- at Coimbatore without availing any outside financial support.
• Managed to automate the tea blending process by capturing and recording tea auction catalogs this reduced the spillage and wastage and hence raw material cost.
Masters Degree Programme in Commerce with the soecialization in Finance