PHANIRAJ NAVARATNA
Bangalore
Summary
Dynamic finance leader with extensive experience at Ascendis Ventures, specializing in financial reporting, compliance, and cash flow management. Proven track record in executing statutory audits and implementing HRM software to optimize accounting operations. Recognized for exceptional team-building and process improvement skills, resulting in significant operational efficiencies. Aiming to leverage expertise to drive financial innovation and support organizational growth. Seasoned Financial Management professional with proven expertise in accounting processes, systems oversight and compliance reporting. Knowledgeable about AP/AR, contract administration, budgeting and all other aspects of successful financial operations. Talented team builder and supervisor with expertise to develop and maintain consistent, accurate, and legal accounting structures.
Overview
24
24
years of professional experience
Work History
Head of Finance
Ascendis Ventures Private Limited
08.2023 - Current
- Company Overview: a Varma Capital USA group company
- Overseeing complete Accounts, Finance, Compliances and Reporting for ‘Herbtonics’ -US based suppliments brand and ‘Easy Pawsy’ - Bangalore based veternity hospital brand
- Heading the HR department and overseeing the Legal compliances as additional responsibility
- Completely accountable for end-to-end accounting operations, MIS, book closure and statutory filings
- Responsible for complete compliances including PF, ESI, PT, GST, TDS, Incometax
- Responsible for Secreterial compliances
- Budgeting, forecast and MIS
- Royalty payments for Herbtonics
- Payroll compliances
- Cashflow planning and releasing payments
- Recruitment support
- HR Operations
- A Varma Capital USA group company
- Successfully handled Easy Pawsy launch and implementation of ‘Provet’ veterinary clinic software for easypawsy
- Successfully implemented HRM software Unbox
- Drafted and implementation of various SOPPs for finance department processes
- Drafted and implemented employee handbook with HR policies
- Successfully completed statutory audit and annual filings for FY 23-24
Senior Manager – Finance & Accounts
Miniklub Retail Private Limited
04.2022 - 08.2023
- Completely accountable for end-to-end accounting operations, MIS, book closure and statutory filings
- Review of Monthly TB and Book closure within Time line
- All Statutory Reconciliation and Data submission for Return in Time
- Monthly Payment plan and Execution
- Plan OTB, Vendors, EBO Payments
- Monthly secondary MIS, Primary P&L and Cashflow
- Review all Partner (LFS, RLFS, EBO, Distribution & E-com) Reconciliation sign off
- Review and responsible for GST Return and RTV, Input data mapping
- Yearly Budget and mapping the actual cost month wise
- Review GST Recon: Books Vs 2B & EL monthly State wise
- GST input to be validated monthly and resolving issues
- RTV mapping with sales and coordinating for E-Invoices
- Validating the E-Invoices and ensuring all the supplies are covered/ Monthly
- Employee TDS working/monthly deductions & keeping the records
- Payroll review, Salaries & other employee payments
- Handling assessments of Statutory Departments
- Annual Physical Verification of Assets
- Responsible for successful completion of Statutory Audit
- Yearly Budget / Cashflow / PL
- Physical stock take organizing, coordination for all stores pan India and complete posting approval
- Successfully handled Business Transfer transaction of Miniklub from First Steps Baby wear to Miniklub Retail Pvt Ltd
- Implementation partnering for Phonepe and Amazon Pay for all EBO stores
- Supporting HR in identifying right HRM software, negotiation and implementation of HRM software Paybooks
- IndusInd bank account and CMS Activation for EBO Store cash collections and ensuring quick cash deposits to account improvising cashflow position
- Streamlining new cost center accounting from April'22 to align with Budget (allocation of sales, warehouse expenses etc)
- Implementation of Sales to Cash (S2C) reconciliations for Flipkart and Myntra and bringing up similar recons for other e-com market place partners
- Successfully completed statutory audit and annual filings for FY 21-22 and FY 22-23
- Successfully completed Physical stock take for all stores pan India
Senior Manager - Finance
Azani Sports
11.2019 - 03.2022
- Successfully handled Financial due diligence (by PWC) and Legal due diligence (by IndusLaw) for Azani Sports being acquired by Cure-fit
- Successfully handled statutory audits for FY 2019-20 and 2020-21 carried out by KPMG for Standalone and consolidated financials for Live Your Sport Retail Pvt Ltd and standalone financials for Relentless Sports Retail Pvt Ltd
- Successfully handling periodical reporting for the investors like Fireside and Sequoia
- Successfully handling Statutory compliance requirements under companies act and coordinating with CS and investors
- Effectively handled the annual stock take process with KPMG Auditors for Factory and Warehouse Stocks in hand
- Completely accountable for end-to-end accounting operations, MIS, book closure and statutory filings for both the entities
- Successful documentation and coordination for fundraising for working capital and marketing requirements
- Streamlined Weekly and Monthly MIS Reports to track CM1, CM2 and CM3 profitability
- Successfully integrated Tally ERP with Sumtracker (ERP for Materials Management) for PO, GRN and Invoicing Process
- Successfully integrated Tally ERP with Unicom for Marketplace Sales accounting
- Mentoring, advising and team building for successful book keeping and compliances
- Managing overall Accounting, Financial and Reporting Activity for both the entities
- Overseeing the accounting activities like S2C, P2P, GL and MIS
- Successfully handled fund raising from various agencies for the working capital and marketing requirements
- Overseeing and ensuring reconciliations like, marketplace sales and collections, payment Gateway collections and courier partner accounts and COD collections on regular basis
- MIS Formulating and completing the weekly and monthly reporting for CM2, GM monitoring
- Supporting CEO on various analysis on sales, costs and collections
- Coordinating and controlling payroll activities and compliances
- Monitoring employee reimbursements, payments, salaries and TDS
- Ensuring compliances like e-TDS, GST, PT, PF and ESIC
- Monthly purchase and cash flow planning
- Day to day coordinating cashflow and decision making on cash outflows
- Documentation for Fund raising activities
Freelance Consultant – Finance & Accounts
Brocade Communication Systems Pvt. Ltd.
06.2017 - 10.2019
- Successfully completed asset segregation process between SBUs
- Effectively handled process to transfer the duty unpaid assets in SEZ unit
- Streamlined GL reconciliations and proposing rectification entries
- Streamlined all audit finalizations & filings for FY 16-17 Accounts
- Helping startups to gain funds through VCs and coordinating with various professionals to cater to the requirements
- Implemented complex business processes and operational improvements while serving as a member of the Executive Steering Committee
- Established financial reporting system that enabled the company to evaluate profitability of each department on an individual as well as consolidated basis
- Built FA migration templates for companies acquiring Bus
- Prepared documentation and coordinated for customs clearance for the duty unpaid capital items installed in SEZ unit
- Checked all compliance documents / filings wrt
- VAT, TDS & Softex
- Managed accounting, JV preparation and conducting payroll review for Brocade & Ruckus – Israel
- Streamlined GL reconciliations and proposing rectification entries
- Checked JVs for month end accounting like various accruals, amortization, pre-paid expenses for Brocade India Company as per USGAAP and IGAAP
- Managing overall financial projection and helping the startups gain funds
- Formulating various PPT’s and supervising all conveyance & other charges
- Identifying unusual or significant accounting and tax related issues to the tax team with recommendations for actions
- Preparing weekly P&L & MIS reports with complete variance analyses against budget
- Undertaking balance sheet flux analysis; analyzing quarterly fluctuations in balance sheet accounts; conducting root cause analysis of accounts having major fluctuations on a quarterly basis
- FA & Inventory Management
Senior Manager – Finance
Mahindra Retail Pvt. Ltd.
12.2008 - 04.2017
- Successfully created a fixed assets accounting system to monitor and maintain all fixed assets for stores across India and depreciation computation for companies & IT Act
- Controlled CAPEX budgets for various new projects
- Validation and approval of New Store CAPEX budgets
- Managed payments of Security Deposits (IFRSD) for properties and advice AP team for rent, CAM and other payments
- Streamlined stock take at various stores / locations through independent charted accountants/ firms
- Set up comprehensive reporting (MIS) system and ensured monthly closures to adhere to corporate consolidation deadlines
- Played a key role as Financial Controller for MICPL (E-Com business Accounting)
- Oversaw all financial transactions, reporting and policies for multiple companies and locations including: General Ledger account transactions and reconciliations prepared by accounting staff
- Fixed asset management and depreciation schedules
- Monthly variance reports for the service and operations departments
- Ensured that audit objectives were met while gathering and documenting sufficient evidence to support audit conclusion; communicated written audit results in a timely, comprehensive, and clear manner
- Worked with business partners in managing the annual budget and quarterly forecast process
- Developed and implemented a more integrated reporting process to improve financial performance, controls and ensure the delivery of financial requirements
- Managed the integration of SAP with other modules and applications, testing of systems during enhancements and configuration as well as for upgrades like kernel upgrade, enhancement packages, patch upgrades, and so on
- Created and implemented key business performance drivers and ensured adherence to standard SAP best practices and business process mapping
- Steered financials & MIS (annual budgeting and monthly reporting & analysis), project finance & fixed asset accounting
- Mentored and coached a team of 5 Officers
- Checked all Employee CAR Loan EMI calculations and advice to HR for payroll deduction
- Recorded all asset acquisitions, transfers and retirements
- Bagged all payment approvals and cheque signing for MRPL, MICPL & RIHL
Assistant Manager - Finance
Foodworld Supermarkets Limited
11.2006 - 12.2008
- Managed fixed asset & project finance (Foodworld & Health and Glow) and developed MIS for Health & Glow
- Checked & controlled spends for all CAPEX budgets for new store opening projects
- Executed all P&L, BS and cash flow statements for the company, region and P & L store wise with Hyperion Essbase data warehousing tool
- Worked on ledger scrutiny and TB finalization
- Formulated FFA (Financial Feasibility Analysis) for new projects
- Liaised with properties, projects and legal departments for finalization of properties and completion of formalities from finance side
Assistant Financial Officer
Ikian Furniture Private Limited
11.2004 - 11.2006
Accounts Manager and Admin
Qualimech Engineers Private Limited
01.2001 - 10.2004
Education
M.B.A. - Finance
Manipal University, NIMS
B Com -
SDGS College
HindupurSkills
- Book Closure
- Financial reporting
- Budgeting and forecasting
- Cash flow management
- Financial Accounting
- Capex & Fixed Asset Management
- Working Capital Management
- Fund & Cashflow Management
- Team Building
- Leadership
- Overseeing Secretarial Compliances
- Finance & Accounting Operations
- MIS & Reporting
- Process Improvement
- Business Excellence
- Payroll administration
- Statutory audits & Documentation
- Accounting operations
- Financial analysis
- Process improvement
- Financial operations streamlining
- Business process improvement
- Working capital management
- Due diligence execution
- ERP system implementation
- Corporate governance
- Budget design
- Business forecasting
- Financial planning
- Financial reporting and analysis
- General ledger accounting
- Financial forecasting
- ERP system management
- Financial systems implementation
- Financial statement preparation
- Tax planning and compliance
Languages
- English
- Hindi
- Telugu
- Kannada
Personal Information
Date of Birth: 01/01/77
Timeline
Head of Finance
Ascendis Ventures Private Limited
08.2023 - Current
Senior Manager – Finance & Accounts
Miniklub Retail Private Limited
04.2022 - 08.2023
Senior Manager - Finance
Azani Sports
11.2019 - 03.2022
Freelance Consultant – Finance & Accounts
Brocade Communication Systems Pvt. Ltd.
06.2017 - 10.2019
Senior Manager – Finance
Mahindra Retail Pvt. Ltd.
12.2008 - 04.2017
Assistant Manager - Finance
Foodworld Supermarkets Limited
11.2006 - 12.2008
Assistant Financial Officer
Ikian Furniture Private Limited
11.2004 - 11.2006
Accounts Manager and Admin
Qualimech Engineers Private Limited
01.2001 - 10.2004
M.B.A. - Finance
Manipal University, NIMS
B Com -
SDGS College
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