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Senior Finance Executive (CFO, Finance Director)

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Action-oriented finance, risk and business management professional with a strong track record of performance in medium & multi-billion dollar manufacturing and service sectors

Cross culture leader with people centered leadership delivering sustained results in a complex and fast changing business environment. Extensive experience working closely with senior leadership team and the board in setting business goals and direction, strategy and organization development, policy formulation, scaling up the business, incubating various growth strategies, execution of tactical plans and leading business transformation projects

Possess strong business acumen with demonstrated capabilities in driving top line & bottom line growth, improved cash flow, cost & operating efficiencies and organizational productivity. Expertise in developing growth & expansion strategies, provision of capital, leading M&A & strategic alliance, implement budget and cost management, building risk management & internal audit programs, change management, redesigning, streamlining & transforming finance organizations to the best in class standard, creating and fostering a performance culture and development of team

Utilize keen analysis, insights and team approach to drive organizational improvements and implementation of best practices. Possess superior interpersonal skills, capable of resolving multiple & complex issues (sales, marketing, supply chain, procurement, business operation, HR, legal & IT) and motivating staff to peak performance. Open and clear communicator at all levels and known as an effective negotiator

Industry experience includes, Investment Management, Metal Alloys, Hospital & Healthcare, Real Estate & Construction, Telecommunication, Pharmaceuticals, Engineering and Paperboards

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Senior Finance Executive (CFO, Finance Director)

  1. 1. Page 1 of 5 Mr. SANJAY BOKADIA, CA Mobile: +91 9867374066 | Email: sanjaybokadia@yahoo.co.in | Mumbai-India CHIEF FINANCIAL OFFICER Action-oriented finance, risk and business management professional with a strong track record of performance in medium & multi-billion dollar manufacturing and service sectors Cross culture leader with people centered leadership delivering sustained results in a complex and fast changing business environment. Extensive experience working closely with senior leadership team and the board in setting business goals and direction, strategy and organization development, policy formulation, scaling up the business, incubating various growth strategies, execution of tactical plans and leading business transformation projects Possess strong business acumen with demonstrated capabilities in driving top line & bottom line growth, improved cash flow, cost & operating efficiencies and organizational productivity. Expertise in developing growth & expansion strategies, provision of capital, leading M&A & strategic alliance, implement budget and cost management, building risk management & internal audit programs, change management, redesigning, streamlining & transforming finance organizations to the best in class standard, creating and fostering a performance culture and development of team Utilize keen analysis, insights and team approach to drive organizational improvements and implementation of best practices. Possess superior interpersonal skills, capable of resolving multiple & complex issues (sales, marketing, supply chain, procurement, business operation, HR, legal & IT) and motivating staff to peak performance. Open and clear communicator at all levels and known as an effective negotiator Industry experience includes, Investment Management, Metal Alloys, Hospital & Healthcare, Real Estate & Construction, Telecommunication, Pharmaceuticals, Engineering and Paperboards 20+ Years of Proven areas of expertise: • Strategic Planning and Organizational Leadership • Controllership, Business Partnering & Decision Support • Planning, Strategy, Budgeting, Forecasting & AOPs • Merger & Acquisition, Restructuring & Turnaround • Governance, Risk Management & Internal Audit • Finance, Accounting, Audit, Tax & Compliance • Treasury, Fund Raising, Investment & Cash Flow • MIS, Board Reporting, Budget/Cost Management • Process Design and Productivity Improvement • Contract Negotiations, Legal & Secretarial, ERP Span of Controls • Multiple Legal Entities, Subsidiaries & SBUs • Revenue: US$ 50 Million to US$ 6 Billion Leadership Skills Visionary | Goal Oriented | Business Acumen | Strategic Mindset | Analytical | Pragmatic | Eye for Details | Critical Thinking | Interpersonal, Communication, Time Management, Organizational and People Leadership Skills Technical & IT/ERP Skills IND AS, IFRS, USGAAP | SOX/ICOFR | Valuation | I-Tax/GST | SAP, Oracle, Hyperion, MS Office-Excel & PPT Qualifications • Chartered Accountant-ICAI-India: Nov, 1997 • Bachelor of Commerce-MLSU-India: July, 1991 PROFESSIONAL EXPERIENCE DPR CAPITAL ADVISORS PVT LTD, MUMBAI, INDIA A boutique investment banking & advisory firm, offering services in the areas of investment management, fund raising and CFO advisory, taxation, audit & assurance and risk management through its division CFOCX Advisors Director, July, 2017 – Present Part of leadership team, I am responsible for corporate finance, tax, audit & assurance and risk management project delivery, quality assurance, including business development & client relations. Engaged and served clients across Non Ferrous Metals, IT/Technology, Food & Beverages, Engineering/ Industrial Products, Agro Commodity, Handicrafts, Marbles, Import/Export & Broking, etc.
  2. 2. Page 2 of 5 • Corporate Finance-project & working capital finance, capital/balance sheet restructuring, debt restructuring & refinancing, seed and growth capital raising, SME IPO, investment management & M&A transaction support • Tax Advisory-tax planning, compliance, contract/transaction structuring, tax research & assessment support • Audit & Assurance-internal audit, special audit, due diligence, revenue assurance, governance & compliance • CFO Advisory-strategic planning, budgeting & forecasting, cash flow, accounting & audit, internal controls, risk management, setting up financial systems, processes and policies and performance review management Notable Achievements: • Acted as interim/virtual CFO for 10+ SMEs and Startups to provide financial leadership to the founder/ CEO, delivering growth and expansion strategies, setting up financial and risk management systems, develop policies and processes, instituted planning & budgeting framework, including long range business plans • Delivered 10+ fund raising projects from US$ 2 to 10 million deal sizes for project & working capital finance. Advised 2 clients for an SME IPO strategy to focus on making the company to the IPO readiness stage • Delivered 15+ tax projects (tax opinion, tax research-domestic & international tax matters & transfer pricing). Developed tax efficient operating business model for a MNC into IT product and managed service providers, covering USA, LATAM and Caribbean countries, resulted in US$ ~500K annual tax cost savings • Developed a risk based internal audit plans and programs, including formulation of risk control matrix (RCM) and implemented risk and compliance framework for India’s leading manufacturer of industrial valves • Developed & implemented 2 end to end enterprise wide risk management projects from risk planning, identification, qualitative & quantitative analysis, risk response planning, risk mitigation, monitoring and control INDIGO METALLOYS GROUP, MUMBAI, INDIA US$ 60 million: 40 years old family owned, ISO 9001:2008 certified and Daikin approved manufacturer & exporter of copper alloys products-tubes, pipes, fittings, etc., with installed capacity of 12K MTPA, providing metallurgical solutions to Air Conditioning/Refrigeration, Heat Exchanger, Medical Gases, Oil & Gas and Ship Building Sectors Chief Financial Officer, Jan 2013 – June 2017 Reporting to MD and led a team of 10, I was responsible to drive top line & bottom line growth, operational and profit improvements, financial transformation and change management. Provided strategic vision, championed the formal planning process, tightened integration of operating departments & revised the organizational structure to meet growth & demands of the business Over saw Controllership, strategic planning, treasury, fund raising, direct & indirect tax, financial planning & analysis, budgeting & forecasting, MIS & Board reporting, governance & risk management, procurement, supply chain, corporate development, legal & secretarial, HR and IT Notable Achievements: • Implemented a comprehensive strategic planning process for the business providing greater visibility for targeted customers and variation in seasonal demands. Strengthened sales and production planning, introduced high value products, explored new markets, resulted in improved revenue growth CAGR 18% (FY13:10%), EBITDA to 14%-FY18 (FY13: 9%) and increased capacity utilization to 61% (FY13: 40%) • Worked closely with sales, marketing, production, procurement, supply chain and commercial operations to streamline business processes, cost improvements and controls, make or buy decisions, labour outsourcing, minimize rejection and rework, resulted in annual cost savings of US$ 2 million • Negotiated debt restructuring of US$ 10 million with bank and improve working capital utilizations. Reduced DSO to 50 days (65 days), inventory holding to 18 days (25 days) and Bad debts to 0.8 % (FY13: 1.4%) • Developed 5 years long term business plan to achieve 20% YoY revenue growth. Developed tactical plans. Achieved annual budget targets in the range of 80-85% (Net Revenue, EBITDA & Operating Cash Flow) • Significantly reduced the financial reporting time to 3 days from 7 days. Restructured finance, accounting and commercial functions, resulting in increased operational efficiency & 15% reduction in department cost • Championed the development and implementation of a Balanced Scorecard business performance reporting tool to evaluate monthly results against key success measures and KPIs. Developed performance measures of financial, sales, marketing, distribution, procurement, production, burning loss, wastage, rework & returns • Implemented activity based cost accounting systems for the melting, extrusion, drawing & finishing divisions. Institutionalized cost accounting principles for pricing and margin decision for all business divisions • Established 10 new OEM & Job contract relationships. Developed sole selling agents- India & Middle East
  3. 3. Page 3 of 5 • Led the design, implementation and overall operation of the Company’s internal audit program. Led risk based comprehensive audit plans, resulted in reduced business, financial, controls & compliance risk • Implemented business governance framework, defining policies, process efficiency and effectiveness, transparency & responsiveness, decision making- authority, accountability, consensus & inclusiveness FORTIS HEALTHCARE, BANGALORE, INDIA US$ 700 million: India’s leading healthcare service provider, having with 43 multi and super specialty hospitals with approximately 9,000 beds (installed capacity) and 392 diagnostic centers. The company is listed on the BSE & NSE. I was responsible for all healthcare facilities in Mumbai (4), Bangalore (5), Chennai (2) & Kolkata (3) Chief Financial Officer (West, South & East Region) Dec 2009 – Jan 2013 Reported to the CEO and led a team of 15. Partnered with the CEO, COO and senior management team to drive top line and bottom line growth, improves in the operational efficiency and productivity, financial transformation and change management. Provided strategic vision, championed the formal planning process, tightened integration of operating departments & revised the organizational structure to meet growth & demands of the business Over saw Controllership, strategic planning, merger & acquisition, treasury & taxation, fund raising & deployment, financial planning & analysis, budgeting & forecasting, MIS & Board reporting, business restructuring & turnaround, governance & risk management, accounting & reporting, internal controls, statutory & regulatory compliance, legal & secretarial, general insurance, billing & revenue Assurance, internal audit, credit & collection and ERP/IT Notable Achievements: • Led and integrated the US$ 160 million Wockhardt Hospitals acquisition (10 hospitals) in record 3 months. Set-up corporate finance function from scratch, including building leadership team, processes and policies • Developed and implemented a comprehensive strategic planning and annual budgeting process for the business providing greater visibility to targeted customers, pricing and cost structures, resulted in revenue growth of CAGR 30% (FY10:12%) and improved consolidated EBITDA of 15% for FY13 (FY10: 11%) • Led fund raising projects worth US$ 500 million for the green field projects, capacity expansion & business acquisition from 10+ banks, including arrangement of working capital finance for various healthcare facilities • Developed 3 years medium term business plans to achieve 30% YoY revenue growth. Achieved annual budget targets in the range of 75-85% (Net Revenue, EBITDA and Operating Cash Flow) • Key leader of operation excellence that eliminated US$ 3 million of SG&A costs through organizational restructuring, process improvements, commercial negotiation and cost reductions across 14 hospitals • Implemented robust internal control & compliance framework, risk based audit plans and business governance framework across corporate and 14 hospitals in Mumbai, Bangalore, Kolkata & Chennai • Developed tax planning strategies, including research and documentation to claim depreciation on the Wockhardt acquisition goodwill of US$ 90 million. Analyzed corporate tax structure and taxes paid, producing first year savings of US$ 40K for employee compensation expense, US$ 20K in property taxes • Turnaround the loss making hospitals to EBITDA+ of Seshadripuram, Rajaji Nagar, Nagar Bhavi and Kalyan. Controlled and Monitored US$ 50 million annual capital expenditure on expansion and medical equipments • Managed 14 hospital financial operations with the negative working capital for continuously 2 years. Streamlined accounts payable, receivable, inventory, billing and collection, resulted in reduced DSO by 25 days of CGHS & ECHS customers and bad debts to 0.45% from 1.60% • Established revenue assurance policies and processes-resulted in reduction of leakages to 0.3% (0.7%) of revenue. Developed a risk based internal audit plans with focus on control, compliance & process efficiencies • Achieved monthly closing for all the 14 hospitals by 1st and MIS by 3rd of month end. Delivered limited review by the 7th of the quarter end and annual statutory audit within 15 days from the financial year end • Developed MIS systems, including qualitative and quantitative KPIs to measure the financial and operational performance. Maintained 100% accuracy of monthly MIS with quarterly/annual audited results • Developed SOPs for S&M spend, referral payments, emergency purchases, billing, discount and international patient. Instrumental in restructuring billing function, including TPAs with tight controls over disallowance • Developed sub specialty wise monthly EBITDA reports to enable the pricing, margin and cost decision. Led Finance and Accounts shared service project with Infosys of the South, West & East region hospitals
  4. 4. Page 4 of 5 AL FARA’A CONSTRUCTION & ENGINEERING GROUP, ABU DHABI, UAE US$ 1.5 billion: UAE family owned leading diversified group, engaged in the construction and contracting, real estate development, ready mix concrete, electro mechanical, glass and aluminum, precast and fabrication Vice President-Group Finance & Operation, Sept 2008 – Aug 2009 Reporting to the CMD and leading a team of 25, I was responsible for the group finance and commercial operation, strategic and tactical planning, budgeting, forecasting, project management, MIS and board reporting, cost and budget controls, governance and risk management and strategic corporate projects Notable Achievements: • Established the financial planning and budgeting processes, including using of business analytics/data to set realistic budget targets for all 9 SBUs. Developed 3 years business plan to target 15% YoY revenue growth • Streamlined cost structures and led value engineering, project outsourcing/sub contracting and SG&A cost control initiatives, resulted in US$ 450K annual cost savings • Implemented enterprise wide risk management, governance and a compliance framework. Integrated risk assessment into all business key decisions. Developed internal controls, systems, processes and policies • Designed MIS reporting systems with a focus on operational KPIs, project cost variation and escalation. Developed SOPs for project commercial operation, resulted in improved cost accuracy and margin forecast VODAFONE INDIA (FKA - HUTCH ESSAR), MUMBAI, INDIA US$ 6 billion: India’s leading GSM telecommunication service provider, part of UK Vodafone Plc, with presence across 23 telecommunication circles. Span of control over 48+legal entities (operating & investment companies) Head (DGM) - Corporate Finance & Accounts, July 2006 – Aug 2008 Reported to EVP-Corporate Finance and led a team of 8, I was responsible for the Group Controllership, finance and accounting operation, consolidation and reporting-IGAAP & IFRS, preparation of USGAAP financial statements (special purpose), statutory audit planning and coordination, merger and acquisition, business integration, financial planning and analysis, MIS & HQ reporting, variance analysis, business analytics and board commentary, capex controls, systems, processes and policies and special corporate projects Notable Achievements: • Core team member of Hutch-Vodafone US$ 20 billion M&A. Successfully completed the F&A, FP&A, Process & Policies integration in 3 months, including other acquired business of BPL Communication-South circles • Delivered consolidated group MIS reports by 3rd of the month end, HQ reporting by 5th of the month end, consolidated IFRS financial statements-LR by the 7th of the qtr end, stat audit within 15 days from the FY end • Delivered 3 years consolidated USGAAP financial statements for Hutchison Essar planned IPO (48+ legal entities) and developed 20+ technical accounting and reporting research papers on IGAAP and IFRS • Streamlined group accounting policies and processes with a focus on revenue recognition, cost amortisation, subscribers churn and new activation, asset capitalisation, accelerated depreciation, etc. • Monitored capital expenditure worth of US$ 50 million per month for rolling out cell sites/tower across 23 telecom circles with management reporting of passive and active infra capital cost separately • Key member of the team implementing Hyperion Essbase data analysis tools for MIS/management reporting to streamline the MIS across 23 telecom circles and shortened data updating from 5 days to 2 days TATA COMMUNICATION (FKA - VSNL), MUMBAI, INDIA US$ 2.9 billion: A global company providing communication services to enterprise customers across the world. The company is listed on the BSE & NSE and was listed on the NYSE (ADR) and is the flagship telecoms arm of the $103.3 billion Tata Group Senior Manager-Corporate Finance & Accounts, May 2005 – July 2006 Reporting to the VP-Finance and led a team of 3, I was responsible for the Group Controllership, corporate finance & accounting operation, financial controls, Group consolidation & reporting-IGAAP & USGAAP, technical accounting, audit planning & coordination, SOX controls, SEC Compliance-6K/20F, M&A integration, PPA/FV accounting, investor relations, MIS & Board reporting, fixed assets maintenance and systems, processes & policies
  5. 5. Page 5 of 5 Notable Achievements: • Played a key role in M&A transaction/integration of Tyco and Teleglobe M&A. Led the PPA & fair value accounting, including recognition and valuation of intangibles, undersea cable network and land & buildings • Delivered the consolidated (50+WOS) USGAAP & IGAAP financial statements, including preparation, and filing of 20F with the SEC. Team leads for the planning and implementation of SOX/404 project • Initiated and directed the activities associated with Sarbanes-Oxley Section 404 certification of internal control environment. Worked closely with Deloitte and controls to perform assessment of controls of utility business. • Developed 10+ Accounting technical research-IGAAP & USGAAP and streamlined revenue recognition, ARO, employees benefits, fixed assets accounting/capitalization, depreciation policies and processes ACG WORLDWIDE (FKA - ASSOCIATED CAPSULES GROUP), MUMBAI, INDIA US$ 300 million: The group is the only supplier in the world, offering integrated manufacturing solutions for the pharmaceutical industry with 15 global manufacturing facilities, supplying a diverse product range of Capsules, Films & Foils, Engineering, and Inspection systems of international regulatory standards/requirements Manager-Corporate Finance & Accounts, Sept 2002 – May 2005 Reported to the CFO and led a team of 3, I was responsible for the corporate finance, corporate restructuring, M&A, investment and foreign exchange risk management, corporate planning, budgeting, AOPs, MIS & board reporting, internal audit, management assurance, governance and compliance, general insurance and strategic financial transformation projects Notable Achievements: • Implemented the corporate restructuring (Merger/Demergers) involving 20+ legal entities. Performed detailed financial due diligence for the 3 potential acquisition targets in the gelatin and capsule manufacturing • Led the financial transition projects-Sales Tax to VAT regime, implementation of new accounting standards Deferred Tax-AS 22 and Transfer Pricing documentation for Custom Capsules, having 100% export to associates. Delivered deferred sales tax prepayment project for Associated Capsules and Universal Capsules MAHADEV PAPER CORPORATION, MUMBAI, INDIA The US$ 50 million, largest distributor of paper and paperboard products of ITC Bhadrachalam and Century Paper Mills with customers across printing, packaging, education and lamination sectors Manager-Finance & Accounts, Jan 1995 – Sept 2002 Reporting to the CFO and responsible for a department of 10 individuals, over saw finance, general accounting, sales & receivable accounting, treasury and banking, tax and statutory compliance, financial planning, MIS reporting, budgeting, forecasting, internal audit, credit and collection, insurance and human resources Notable Achievements: • Credited with the introduction of product wise operating gross margin analysis, contributing to a reduction of inventory levels by 16% on a 15% increase in sales • Recovered 5 years old bill discount margin money from Tata Finance-US$ 100K. Saved US$ 500K by controlling customer claims-return and rejections by implementation of stringent review/approval mechanism. Finalized marine insurance claims of ~10 cases per month from US$ 250 to 1500 for transit accident Audit/Article Clerk, Oct 1991–Sept 1994 Sampati Lal Bohra & Co, Chartered Accountant, Udaipur-India INTEREST I am extremely passionate about sports and athletics that keep me fit and energetic. I am an avid reader with an interest in the economics, fiscal and tax policy, international trade, M&A, healthcare, education and environment PERSONAL SNIPPETS Nationality: Indian DOB: Sept 21, 1972 Language: English & Hindi (Fluent) Relocation: Open Notice Period: 30 Days References: Available on request LINKEDIN PROFILE https://www.linkedin.com/in/sbokadia/

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