Mitul Bhavsar

Work History

Head of Finance & Accounts

Amnex Infotech Private Limited

Ahmedabad

03.2024 - Current

Create an annual budget for all SBUs, along with AOPs for each project.
Manage capital allocation and financial forecasting for CapEx and OpEx projects.
Monitor SBU performance metrics to support strategic objectives.
Review in depth the project margins, identify overrun costs, and set mechanisms to fix them up.
Oversee key operational areas, including accounting, tax, legal, and treasury functions
Manage Cashflow and Receivables
Supervise cost-saving initiatives and improvement programs for operational efficiency.
Provide oversight of third-party vendor management and outsourced services.
Lead and manage accounts, Finance and Tax Team, along with monitoring KPIs.
Ensure compliance with statutory requirements, and timely financial reporting.
Establish and ensure internal controls to identify and mitigate financial risks effectively.
Participate in key decisions as a member of the executive management team.
Activities related to raising capital and working capital requirements.

Head of Finance & Accounts

Lioli Ceramica Pvt Ltd (Caesarstone Group, Israel)

Ahmedabad

04.2023 - 02.2024

Heading: Finance, Accounts, Commercial, Tax, and MIS Department.
Providing sound financial support, analysis, and strategic recommendations to the BU on critical decisions.
Prepare and review monthly financials in U.S. (GAAP) and IG (AAP), which include balance sheets, income statements, and cash flow.
Detailed variance analysis, sales analysis (regionwide, product-wise, category-wise, KAM-wise), and trend analysis.
Design and monitor robust financial controls and procedures; end-to-end documents are driven through ERP only.
Periodic review and implementation of effective improvement mechanisms for FC processes and systems, fixed assets, and capitalization.
Review exceptional reports to monitor the system break. Ensuring all SOPs are adhered to in an effective manner.
Monthly review and update the inventory item cost so as to arrive at the correct inventory valuation
Assess and mitigate financial risks, such as credit risk, liquidity risk, and operational risk.
Arrangement of insurance coverage for asset and marine insurance, and timely renewed with the commercial team.
Lead the annual budgeting exercise, coordination with BU for their input.
Linking these budgets with the profitability of the company and reviewing.
Analyze the budget performance quarterly, and revise the forecasting as per the sales trend.
Driving Receivables and Payables, Inventory Control.
Organizing for liquidating needs by proper working capital management and cash flow analysis.
Monthly closure of books, supervise overall accounting operations such as payments, GL, scrutiny, TDS, payroll, and stock reconciliation.
Manage the Accounting and MIS team to ensure processes are in place and to provide timely mentoring to the team.
Closely monitor monthly deferred sales, COGS, lease accounting for US GAAP, accrual, and prepaid working validate.
Manage audits such as statutory audits, systems audits, internal audits, inventory audits, and departmental audits.
Liaise with the respective auditors, bankers, advisors of CS, legal and tax consultants, and actuarial valuers.
Ensure monthly TDS, GST, PF, ESIC, and PT payments, and timely returns, as well as monthly ECB-2 returns under FEMA and UFCE returns.

Head of Finance

Parikh Packaging Pvt Ltd (Constantia Flexible, Vienna, Austria)

Ahmedabad

06.2021 - 03.2023

Prepare financial statements, corporate MIS, and integrated reports for management.
Oversee, review, and circulate the monthly MIS, including segment, product, and customer-wise data, with YTD performance.
Monthly Profitability Statement, Cost Center-wise, Inter-Group Company Reports uploading Group SAP system.
Monitor financial health and business performance by analyzing results, minimizing impact variables.
Support on contract evaluation and negotiation for commercial terms, product pricing, and costing, cost analysis.
Oversee, lead, finalize, and administer the annual CapEx budget, Opex budget, and planning process.
Drive group financial planning in coordination with business unit heads.
Work with Business Analysts and Operations to periodically forecast.
Manage cash flow, including receivables, to analyze revenue trends and collection trends.
Monitor inventory movement to plow back to have an accurate forecast.
Corporate Governance and Risk Management:
Manage, prepare, and support all audits, risk audits, governance group audits, and closure.
Supervise and guide the Accounting Department to ensure proper functioning, and ensure that all necessary business policies and SOPs are followed.
Ensure proper internal finance control in all business transactions, validating insurance contracts.
To direct and manage all aspects of general accounting operations, including GL, TB, and BS, as per Ind AS and IFRS.
Partner with Lead Payables, Receivables, and Treasury for overall accounting and tax integration of TDS and GST returns.
Effective payroll management, including payment and returns of PF, ESIC, PT, and LWF.
Fixed Asset Register maintenance and monthly depreciation roll forward, handling the present value of fixed assets.
Grant and Lease Accounting, Monthly Deferred Sales, and COGS working.

Sr Manager (F&A)

Nepra Resource Management Pvt Ltd

Ahmedabad

10.2018 - 06.2021

Preparation of the Statutory Accounts, Consolidated Accounts, Balance sheet, P&L in compliance with India GAAP
Raising Funds from Banks and FI on Term Loan and Working Capital Interaction with banks
Manage Treasury, Preparation of CMA data and Appraisal Note, Limits Proposals, Ensure FEMA Compliance
Plant Accounting, Costing, Credit Control, Profitability analysis and Project Cost Monitoring
Responsible for Financial Planning including Budgeting and forecasting processes and comparison
Optimizing Fund allocation and ensure appropriate Cash Flow for operation, Initiate & Follow up for Cost savings
Ensure effective co-ordination with Purchase and other department for timely and accurate purchase/expense booking
Liaison with Internal, Statutory Audit and Due Diligence for Venture Capital Fund
Ensure Internal Statutory compliances as GST, TDS, PT, PF, ESIC, e-way bills including GST audit and assessment
Design, Implement and maintain Internal Finance Control to minimize risks over Receivables, Payables, Inventory
Manage Fixed Assets and projects, and FAR, Identify Capitalization carefully
Developing and implementation of new procedures Monitoring & troubleshooting of all ERP Finance Module issues
Set up and Oversee the Finance IT system and timely training to Staff for Finance Module for Accounting and Report
Job Role : Sr.Manager (Finance & Accounts) @Nepra Resources Management Pvt Ltd

SR Manager (F&A)

Irish Products Pvt Ltd

Ahmedabad

01.2017 - 09.2018

Monthly Profitability Reporting SKU, Region, flavor, Segment Reporting, including Cash flow
Maintenance and Updating of FA register, with Depreciation and CAPEX
Ensure compliance of Internal and Statutory Audit, Costing and Cost analysis, analyzing Monthly cost variance
Implementation and Supervision of Internal Finance Controls, OPEX
Maintain Banking relationships, Supervise foreign inward and outward remittances, OD Facility
Documentation for Cash Credit Limit, DP, LCs, PBG, CMA Data
SPOC for query in ERP and guiding Staff on timely resolution thereof
MIS on Production Capacity, Product Costing, Budget and Variance Analysis
Ensure to Monitor TDS, GST, timely payment of Returns too

AM (F&A)

Jasubhai Engineering Pvt Ltd

Ahmedabad

04.2012 - 12.2016

Finalization of Company Accounts, Financial Reports, P&L, Notes & Schedules to Balance sheet BU wise
Ledger Scrutiny and proper accounting and reconciliation, Provisions, Bank Reconciliation
Interface Internal, Statutory and Tax Audit, Ensure Compliances
CAPEX and Depreciation working as per Schedule II as per New Co Act 2013, FAR Maintenance
Evaluation of Debtor Aging and Creditors’ Ageing, Advance Settlement
Assist in Budgeting, Periodical Review and Variance Controlling
Monitoring effective Cash Flow, Liquidity Planning, Fund disbursement as per Policy
Preparation CMA Data, FFR Reports, Stock statement for DP purpose
Excise Duty RG Part-I & II, ARE, PLA, CENVAT, Return filling, LUT, CT-1, CT-3, PAC, SHIC License, EPC
Handling Appeal and SCNs, Assessment, Liaising with Excise Department, Proof of Export, Claim of DDBK
Custom Duty, Custom Clearance for Imported and Exporting Goods, Coordination with CHA
Service Tax Returns Payment, RCM working, CENVAT, Assessment
Income Tax, TDS, Advance Tax, Form 16A, 26AS, Income Tax Assessment co-ordination with CA
Sales Tax, CST, VAT, Compliance of VAT audit, Assessment, C, I, H, E-1, E-2 Form reconciliation
Sales Billing & Purchase Bills scrutiny and authorization, Sales & Purchase Orders review
Export & Import Documentation and proper Accounting thereof
Monitor of retirement of Letter of Credit, Bank Guarantee, Discounting, BOE, Documentations
Job Role : Assistant Manager Finance & Accounts @Jasubhai Engineering Pvt Ltd

Finance Executive

GETCO

Surendranagar

09.2007 - 03.2012

Company Overview: Gujarat Energy Transmission Corp Limited
Finalization Trial balance, consolidation of financial statements, Notes to Accounts
Ensure Proper Bank Accounting, Inter Division Reconciliation, Monthly MIS, Bank Reco, Vendor Reco
Involved in Tendering for EPFC work and Commercial Contracts vetting
Processing of purchase Bills, Purchase Order Review and Invoice Tracking, WIP, stores and accounting
Scrutinizing and assessing the vendor balances, releasing the retention money recording of payments in SAP
Accounting of Assets and Depreciation, CAPEX and OPEX
Ensure proper and timely period accounting and Reconciliation, closure, capitalization, WIP etc...
Ensure deposition and reconciliation of PF, PT, ESI, EPS, VPF & preparation of returns as per Act
Co-coordinating with internal, CAG auditors on financial reporting matters, Annual Budget Preparation
Job Role : Finance Executive @ Gujarat Energy Transmission Corp Limited

Summary

Overview

Work History

Head of Finance & Accounts

Head of Finance & Accounts

Head of Finance

Sr Manager (F&A)

SR Manager (F&A)

AM (F&A)

Finance Executive

Education

ICWA/CMA(I) - Cost Accounting and Taxation

MBA - Corporate Finance and Business Management

Bcom, BBA - Finance and Accounting

12th - Commerce and Economics

Skills

Accomplishments

Date of Birth

References

Timeline