Karandikar Abhijit
CA, CFA, MBA (Chinese University Of Hong Kong)
Summary
Chartered Accountant (ICAI, India);Chartered Financial Analyst (CFA Institute, USA); MBA (Chinese University of Hong Kong)
9 years of experience in financial planning and analysis and strategy formulation working in diverse industries like textile, apparel, real estate, jewellery, retail and FMCG sector. Proven track record in financial statement analysis, preparation of annual budgets and forecasts. A highly dynamic and achieving finance professional specializing in analyzing business financial health and valuations. Aim to further advance my career in financial planning and analysis domain
Overview
10
10
years of professional experience
11
11
years of post-secondary education
Work History
Senior Manager - Financial Planning and Analysis
Raymond Limited
Thane
2021.10 - Current
- · Overseeing the Group financial planning and analysis team of 4 individuals
- · Preparation and analysis of Monthly and Quarterly Consolidated Financials for review with the Group CFO and different business units. Ensuring the business financials are in line with the Group Objectives
- · Analysis of monthly and quarterly profitability and working capital estimates and ensuring that the business finance teams meet the requirements at the group level
- · Preparation and analysis of Group Level Budget for Raymond Limited for FY23.
- · Analysis of each of the Raymond Group businesses on a monthly basis and presenting the findings to the Group CFO to ensure continuous improvement and meeting the Group Level objectives. Areas of analysis include Gross Margins, Product Mix and ASP, Operating Expense Variance, Net Working Capital Requirements, Net Debt, etc.
- Key member in the preparation and filing of the Draft Red Herring Prospectus of JK Files and Engineering Limited. Filed the prospectus in record time of two months
Senior Manager - Finance
Renaissance Global Limited
Mumbai
2018.10 - 2021.09
- Heading a 5 member finance team for all international regions (US, UK, Europe and Dubai).
- Preparation and Analysis of Budgeted and Actual Profitability statements and Balance Sheets for all regions including US, UK, Europe and Dubai
- Focus on Gross Margin Analysis – Analysis of product wise and brand wise gross margins and highlighting areas of improvement.
- Liaise with statutory auditors for all their audit requirements and ensuring the quarterly audits/limited reviews are carried our smoothly.
- Preparation of company’s quarterly investor presentation and analysis of financial statements for stock exchanges and earning calls.
- Meeting equity research analysts and fund managers to facilitate investor outreach and educate them about our company long term objectives.
- Working capital management with a focus on inventory management.
- Maintaining cash flow forecasts for the business to ensure there are no liquidity issues in the short term
Manager II - Retail Planning
ICICI Bank Limited
Mumbai
2015.06 - 2017.03
- Analysis and preparation of product wise monthly profitability report for the MD’s review.
- Engaged with Business Teams to provide them an insight into the performance of their respective loan products namely Home, Auto, Two-wheeler, Commercial Vehicles, etc. and to strategize based on discussions in strategy meetings with business heads.
- Analysis and preparation of Budget FY 2018-19. My key area of responsibility was ensuring the product wise interest rates for both old and new disbursements are accurate and budgeting the net interest income for the retail asset segment of the bank
- Led a team of 8 to automate the branch profitability reports for all retail assets, saved approximately 100-man hours per month and there was minimal manual intervention to avoid errors.
Assistant Manager - Finance
Raymond Apparel Limited
Mumbai
2013.09 - 2015.05
- Analysis and preparation of monthly MIS reports for the entity and then analyzed the brand wise and channel wise distribution performance monthly.
- Involved in the preparation and analysis of Overall Budget for FY 15-16 for apparel business
- Liaise with auditors for Limited Reviews and Quarterly Audits. Single Point of Contact with auditors on any of their queries.
- Finalization of accounts with regards to inventory and expenses provisioning
- Developed a report to analyze brand wise channel wise Gross Margins for all our four brands.
- Established the costing of Spring Summer 2015 products under key category ColorPlus; received a “Wall of Fame” Award – a quarterly award for outstanding contribution in the Finance Department
Senior Associate - Audit & Assurance (Articleship)
Deloitte
Mumbai
2010.08 - 2013.08
- During Statutory Audits at TATA MOTORS FINANCE Limited covered areas like Treasury- Borrowings and Investments, Non- Performing Assets, Cash and Bank Balances, Expenses Vouching and Analysis, Debtors Ageing
- Executed statutory audits for client across industries in the BFSI, e-commerce and FMCG sector.
- Identified double provisioning in NPAs amounting to excess provision of $ 100,000 and rectified classification of current/non-current loans during statutory audit of a client - Tata Motors Finance Limited (TMFL)
- Led a 4-member Tax Audit Team for TMFL achieving 100% efficiency in 80% time; exceeded superior’s expectations
Education
MBA - General Management
CUHK Business School
Hong Kong 2017.06 - 2018.09
CFA - Finance
CFA Institute
United States Of America 2014.06 - 2017.06
Chartered Accountant -
Institute of Chartered Accountants of India
New Delhi 2009.05 - 2013.05
Bachelor of Commerce -
Mumbai University
Mumbai 2009.05 - 2012.05
Skills
Financial reporting and analysis
Timeline
Senior Manager - Financial Planning and Analysis
Raymond Limited
2021.10 - Current
Senior Manager - Finance
Renaissance Global Limited
2018.10 - 2021.09
MBA - General Management
CUHK Business School
2017.06 - 2018.09
Manager II - Retail Planning
ICICI Bank Limited
2015.06 - 2017.03
CFA - Finance
CFA Institute
2014.06 - 2017.06
Assistant Manager - Finance
Raymond Apparel Limited
2013.09 - 2015.05
Senior Associate - Audit & Assurance (Articleship)
Deloitte
2010.08 - 2013.08
Chartered Accountant -
Institute of Chartered Accountants of India
2009.05 - 2013.05
Bachelor of Commerce -
Mumbai University
2009.05 - 2012.05
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