Summary
Overview
Work History
Education
Timeline
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Nitin Agarwal

Finance Director
Gurgaon,Harayana

Summary

Career Summary Dedicated Chartered Accountant having 15 years of extensive experience in spearheading the finance function with 5 years at leadership level, overall exposure in FP&A, supply chain finance, sales commercial finance, GAAP reporting (US & Indian GAAP), M&A, treasury, strategic sourcing, commodity & foreign currency risk management, tax, SOX, etc.

Overview

15
15
years of professional experience

Work History

Finance Director

Nitin Agarwal
03.2019 - 10.2020
  • Responsible for managing the overall finance function for two entities in India, with focus on driving 4Cs (Cash, controls, capabilities and communication).
  • Key business partner in delivering revenue and margin goals for both consumer and B2B business.
  • Managing the GAAP reporting (Indian and USGAAP) & timely production of monthly statements & management reporting for the India leadership team review.
  • Ensure compliances and timely audits and tax functions and manage relationships with auditors, consultants and tax services.
  • Managing the FP&A activity for the business, LTP, annual budgets and quarterly rolling forecasts.
  • Pricing decisions and partnering with business team towards margin improvement areas.
  • Key business partner on new product launch and strategy.
  • Key stakeholder in implementing the GTM strategy in the era of channel transformation, considerable work done in optimising the value chain and also establishing the direct dispatch distribution.
  • Played key role in developing & managed the pricing and commercial finance part for the B2B business and private label business and establishing focus of finance team towards key account management as finance business partners.
  • Responsible to manage the supplier relationship and category management for the rice business (USD 40Mn).
  • Managed the inventory planning, price, cost & process improvement areas.
  • Drive the CCI programme for the India business (Continuous cost improvement).
  • Develop and grow the young and dynamic team and ensure their motivation and enthusiasm.
  • Managing the treasury function for the business with key focus on improving CCC and managing cash flows, manage relationship with bankers and corporate treasury at US HQ.
  • Key focus on driving working capital goals with identifying and ensuring implementation of AR, AP and inventory optimisation activities.
  • Supporting on key supply chain process like S&OP plans, inventory management (SLOB), product yields, plant overheads, etc.
  • Managing the capital structure of the business in view of long-term needs and the associated costs.
  • Managing the finance function for the back-office captive unit which was housed in a separate entity.
  • Managing the limited review of the JV entity in India.
  • Worked in a matrix reporting structure for a considerable period of time also manage people under matrix structure.

Chartered Accountant

Kohinoor Speciality Foods India Pvt Ltd
Gurgaon
02.2012 - 10.2020
  • (A 100% Subsidiary of McCormick Inc.
  • USA, global leaders in spices and flavours) Finance Director for India business and managing the strategic procurement for rice business (USD 40Mn appx).

04.2018 - 02.2019
  • APZ Category head Rice.
  • Managing the strategic sourcing for rice business (USD 40Mn), completed the 5i category training for category management.
  • Successfully structured the category management for the rice procurement for India business, created opportunities for supplies to international markets.
  • Lead and manage the key negotiation and relationship for the rice supply contract ($ 40Mn).
  • Delivered significant savings from the contract and category management.
  • Implemented the first sustainability project for rice business in India.
  • Created the three-year strategy roadmap and BCP for the rice procurement & implemented the strategy for the first two years.
  • Led the finance, tax and procurement due diligence on M&A deals.
  • Managed the bulk rice sales portfolio for the business.
  • Worked on export deals for the RTE food business mainly private label for third parties and McCormick brands.

09.2015 - 03.2018
  • GM Finance, India finance head (Served on the India leadership team).
  • Lead the overall finance function for the India business, served at the Indian leadership team reporting to the VP & CFO APZ.
  • Lead the monthly financial review & help implement the S&OP process for India business.
  • Managed the FP&A and product pricing piece for the consumer and B2B business.
  • Partnered setting up long term plans and strategies for turnaround of the consumer and B2B business.
  • Played key role in redesigning the route to market upgrade, distribution network and redesigning the product portfolio for the consumer business.
  • Worked out the B2B business long term plan along with category optimizations and accordingly redesigned the manufacturing facility capabilities.
  • Worked closely with the APZ regional and US corporate team on long term strategic plans, budgets, forecasts, risk and opportunity statements and financial reporting.
  • Lead the budgeting process by working closely with business teams on AOP, Gross Margins and SG&A and cost saving (CCI) targets.
  • Drive the balance sheet targets like CCC, CAPEX spends, CCI, etc.
  • Successfully implemented SAP for India Business and led a smooth GST transition.
  • Lead internal audits for the JV entities in India.
  • Developing and nurturing the team to create a stable and high performing finance organisation.
  • Completed the strategic leadership programme at Centre for creative leadership, Greensboro, USA.

Sr manager

02.2012 - 09.2015
  • Supply chain finance and controllership function).
  • Relationship and category management for the rice business (USD 40Mn).
  • Managing the FP&A activity for the business, LTP, annual budgets and quarterly rolling forecasts.
  • Pricing decisions and partnering with business team towards margin improvement areas.
  • Drive the CCI programme for the India business (Continuous cost improvement).
  • Develop and grow the young and dynamic team.
  • Managing the cash flows for the business.
  • Overseeing GAAP reporting (US and Indian GAAP), audits and tax functions.
  • Supporting on key supply chain process like execution of S&OP plans, inventory management, etc.
  • Key stakeholder in implementing the RTM strategy for the business.
  • Looked after the supply chain finance for the business which included the F&A and commercial aspects of factory operations, procurement, Co pack operations, CCI (continuous cost improvement), product costs, distribution, etc.
  • Managed the financial relationship for rice business co pack operations which was driven by the open book costing supply agreements, reviewing and signing off the product costs from vendors and ensuring accurate vendor cost reconciliations.
  • Size of the contract was appx INR 5000Mn.
  • Drove the entire plant commercial activities such as product costings, CAPEX evaluation, monthly P&L & balance sheet reporting, compliances and spearheading the cost saving initiatives.
  • Developed robust risk management and reporting framework to support India business.
  • Built robust control system for the business including Hyperion Reporting including the consolidated monthly results and reported to US Headquarters.
  • Successfully designed and implemented the SOX framework for India.
  • Successfully cleared the global internal audit and FCPA audits, implemented balance sheet reconciliations.
  • Developed and implemented accounting policies & successfully led the I GAAP and USGAAP reporting for India business.
  • Successfully managed entire banking relationships, cash balances, forecasts & appropriate insurance coverage.
  • Successfully managed the audit and tax (direct & Indirect) for the business.

04.2006 - 02.2012
  • Cargill India, Gurgaon as Deputy Manager Finance (Business size INR 4,000 crore).
  • Managed the monthly and annual closing of books, P&L & BS reporting, FX risk management, FP&A, treasury operations, trade finance & cash management operations.
  • Successfully implemented Business Intelligence tool for MIS optimisation, cash management and trade finance structures for the BU.
  • Implemented the Accounts payable outsourcing and AR outsourcing processes for the BU spread across more than 25 locations including 10 manufacturing sites, this resulted in lead time reduction, process standardisation, control strengthening, cost savings, DSO improvement & fraud risk minimization.
  • Optimised and automated the key processes around inventory valuations, MTMs, other key accounting areas resulting in improvement in timely and quality reporting of numbers.
  • Led the BUs P&L consolidation & rationalisation activity & related MIS & book closure, Critical analysis of the P&L models for contribution, foreign currency P&L & commodity risk management.
  • Prepared the monthly financial report for management review.
  • Worked closely with the trading team on the commodity position management risk and control framework.
  • Performed the critical analysis of risk management P&L (Commodity Position P&L) and reconciliation with books.
  • Provided daily currency views & market updates to management with the approx.
  • Annual imports value for the business unit valued at more than USD 500 Million.
  • Managed the Foreign currency hedging activities, payments, receivables, borrowings including the cross-currency transactions.
  • Monitored the borrowings & cash flow for the BU including the cash flow forecasts.
  • Managed the structure finance transactions on imports & managed the loan portfolio for the BU such as buyer’s credits, ECBs, TCBFs, other trade finance structures on imports, etc.
  • Managed the FEMA requirements for the BU in compliance with RBI regulations for offshore hedge facility, Imports, ECBs & Deferred pricing regulation.
  • Adhered to general accounting & compliances for imports & derivatives both commodity & currency.
  • Prepared the transfer pricing study and managed statutory audit for the BU.
  • Played key role in ‘International Audits’ from US HQ on Balance Sheets & Internal Controls.
  • Managed the post - merger and acquisition integration activities.
  • Chosen to lead Pan India F&A for co-manufacturing locations (appx 15 in number) also worked on the profitability & commercial viability of the operations.
  • F & A for 2 regions (annual turnover of more than INR 1500 crores) for sales commercial finance.

Education

Chartered Accountant -

Institute of Chartered Accountants of India

Batch Strategic Leadership Programme: Organizational Leadership, Centre of Creative Leadership, USA - undefined

Bachelors of Commerce - Accounting & Finance

Jiwaji University

Timeline

Finance Director

Nitin Agarwal
03.2019 - 10.2020

04.2018 - 02.2019

09.2015 - 03.2018

Chartered Accountant

Kohinoor Speciality Foods India Pvt Ltd
02.2012 - 10.2020

Sr manager

02.2012 - 09.2015

04.2006 - 02.2012

Bachelors of Commerce - Accounting & Finance

Jiwaji University

Batch Strategic Leadership Programme: Organizational Leadership, Centre of Creative Leadership, USA - undefined

Chartered Accountant -

Institute of Chartered Accountants of India

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