Summary
Overview
Work History
Education
Skills
Timeline
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AJAY DUA

AJAY DUA

Chief Financial Officer
Gurgaon

Summary

Chartered Accountant with over 24 years of proven experience in Global Financial Service Sector. Currently engaged in rendering CFO Services. A strategist who successfully drove business & financial operations, established consistent & appropriate business practices, enhanced controls for risks, instituted internal controls, teamwork and functions throughout the entity. Experience in Fund Raising from Banking from Private Equity Partners.. Comprehensive experience of IFRS/ IND AS implementation. Rich experience in leading multiple projects on automation of manual processes as well as strengthening of internal controls.

Supported raising of funds to the tune of INR 500 crores and managed all aspects of working capital. Delivered significant business impacts and contributed to the company by collaborating with the leadership team, investors, board of directors & external regulators through high-stakes decisions; drove performance management, training & development while defining goals & KPIs in alignment with organizational goals. Finance professional prepared for high-level challenges, bringing valuable experience in strategic financial management and operational efficiency. Known for fostering collaborative environments and driving results. Adept at navigating complex financial landscapes and adapting to evolving business needs. Experienced with financial strategy development, budgeting, and compliance. Utilizes comprehensive financial analysis to inform decision-making and drive organizational growth. Track record of leading cross-functional teams to achieve financial objectives.

Overview

24
24
years of professional experience
2
2
Languages

Work History

CFO & President Finance

Ozone Group
04.2021 - Current
  • Successful Lead the fund-raise transaction from Private Equity Partner.
  • Successfully implemented the Financial Strategy of the group
  • Led the business process setting up across the group
  • Engaging with stakeholders in the finalization of business plans, pricing policies, and manufacturing strategies.
  • Investor discussions, new business acquisitions, finalization of investor agreements, SPAs SSHs agreements including dealing with BIG4 consultancy firms and Law Firms. (Successfully closed buy side and sell side transactions)
  • Engaging with vertical heads in setting up of review/tracking mechanism of business plans
  • Audit management with Deloitte Haskins.
  • Heading treasury function for the group, Setting up Innovative Banking for customers (Channel Finance)
  • Finalizing strategic agreements arrangements including operational, international trade licensing, and Govt.
  • Major Achievements
  • Successfully handled the acquisition of 10 M$ Business
  • Successfully Completed Fund Raise transaction of More than 30 M$ from a Private Equity Partner
  • Successfully completed the deal to purchase major industrial land for the company and worked on a specialized incentive package with Rajasthan Govt.
  • Introduced Channel finance facility for the distributors and dealers and successfully finalized Major Term loans for the group.
  • Partnered with the CEO and finalized group strategies & business plans.

Head Finance

River Group (River Engineering/Steaslit Ltd. (Amtek Auto Group company))
03.2020 - 03.2021
  • Company Overview: River Group is engaged in design, manufacturing, and supply of strategic electromechanical parts to Indian Railways, Defense and Aerospace.
  • Leading the Finance and Commercial function of the organization
  • Engaging with stakeholders in finalization of business plans, pricing policies and manufacturing strategies.
  • Fund management/Additional fund raisings for business from banks as well as NBFCs.
  • Engaging with vertical heads in setting up of review/tracking mechanism of business plans
  • Setting up of Banking Infrastructure (Credit facilities, import arrangements, LC /BG Set ups)
  • Finalizing all business arrangements including operations & management agreements, lease agreements
  • Setting up the systems/processes/banking & Finance operations of New company acquired through NCLT

GM & Group Finance Controller

Lava International Limited
08.2016 - 02.2020
  • Front-led cost efficiency team to attain operational cost saving; saved approx. INR 30 crores through review, re-define & restructure of processes and removal of NVA Activities.
  • Contributed as a pivotal part of fund-raising exercise in company from Foreign Strategic Investor & Domestic Investor, thereby raising funds of US$ 40 million
  • Played in key role in attaining total tax saving of approx. US$ 3 million to the group through international structuring & transaction controlling
  • Devised company financials for public fund raising; drove 1 full cycle till successful DRHP finalization encompassing IND AS, Previous Years, Compliance Requirements & so on
  • Finalized Annual & Monthly Business Plans and led business decision making along with stake holders and promoters. (Profitability Management was one of major KPI)
  • Devised company trade policies and scheme structures aligned to market and business requirements.

DGM – Finance & Head Corporate Treasury & Insurance

LG Electronics India (P) Ltd.
03.2005 - 07.2016
  • Steered foreign currency risk management and contributed in forex buying’s & hedging decisions
  • Managing Fund Based/Non-Fund based banking limits of more than 1200 crores.
  • Ideated new proposal with Banks/NBFCs to support financing to Vendors, Channel partners and End Customers. (Managed Portfolio of more than Rs. 3000 crores and Consumer financing cost of more than Rs. 250 crores)
  • Nurtured relationships with financial service providers including banking relationship at C / senior level with all MNC banks
  • Achieved cost saving of approx. INR 1 crore on annual basis on bank charges by supervising bank service fees and resolving quality issues
  • Drove all payments of company including DPO management; engaged in insurance claims management & new initiatives
  • Pivotal in managing loss cases of over 20 Cr. without impact on premiums through finalization & negotiation of Insurance Structure/Premium for Company
  • Dealing with Non-Banking Financers to create valuable financing structure for Business Partners.

Head Corporate Reporting & Accounting (Including Mfg. Accounting)

LG Electronics India (P) Ltd.
01.2010 - 12.2013
  • Audit coordination and completion for Quarterly & Annual Audits as per India GAAP and IFRS (Managed BIG 4 auditors)
  • Expense & Payable Management. (Payable days, Long outstanding, Advances, system controls)
  • Steered end-to-end implementation of product wise/model wise profitability system for organization to support better decision-making and continuance of multiple profit-making models; conferred with Best Employee of the Year for the same
  • Prepared Accounting Policies and Standard accounting practices for PAN India (2 factories and 50 branches)
  • Assessed multiple agreements related to R&D and advertising related to applicability of several statues.
  • Devised & finalized balance sheet as per schedule VI of Companies Act, 1956 and interfaced with statutory auditors as well as partner level
  • Contributed as an In-charge for successful implementation of IFRS in LG India as per HQ requirements and conversion as per Indian requirements
  • Merit of being recognized as HIPO (High Potential) Employee at LG Electronics Global Level

Manager Corporate Reporting & Mfg. Accounting

LG Electronics India (P) Ltd.
01.2008 - 12.2010
  • Controlling Mfg. activities of two factories including correct Mfg. Accounting, Costings and Inventory Management
  • Directed end-to-end finalization of group level financials across India, Hong Kong, China & Egypt
  • Ensuring Statutory financial and tax compliances (Banking, FEMA, Companies Act, Waste Management etc.)
  • Liaised with India/International Auditors and ensured successful closure
  • Engaged in finalizing & negotiating insurance structure/premium for company (Assets, Credit & Employees)
  • Delivered excellence in decreasing insurance cost by approx. 25% through negotiation & restructuring
  • Established subsidiaries and finalized nature of operations; successful in instituting an Egypt Subsidiary with Dubai Set-up

Deputy Manager (Finance & Accounts)

Pearl Global Limited
05.2003 - 02.2005

Assistant Manager (Audits)

T R Chadha & Company
11.2001 - 04.2003

Education

Diploma - IFRS

ACCA London
01.2011

CA - undefined

Institute of Chartered Accountants of India (ICAI)
01.2001

Skills

Financial & Strategic Planning

Timeline

CFO & President Finance

Ozone Group
04.2021 - Current

Head Finance

River Group (River Engineering/Steaslit Ltd. (Amtek Auto Group company))
03.2020 - 03.2021

GM & Group Finance Controller

Lava International Limited
08.2016 - 02.2020

Head Corporate Reporting & Accounting (Including Mfg. Accounting)

LG Electronics India (P) Ltd.
01.2010 - 12.2013

Manager Corporate Reporting & Mfg. Accounting

LG Electronics India (P) Ltd.
01.2008 - 12.2010

DGM – Finance & Head Corporate Treasury & Insurance

LG Electronics India (P) Ltd.
03.2005 - 07.2016

Deputy Manager (Finance & Accounts)

Pearl Global Limited
05.2003 - 02.2005

Assistant Manager (Audits)

T R Chadha & Company
11.2001 - 04.2003

CA - undefined

Institute of Chartered Accountants of India (ICAI)

Diploma - IFRS

ACCA London
AJAY DUAChief Financial Officer