Tarunkumar Acharya
Ahmedabad
Summary
Accomplished Finance Leader with 19+ years of experience from India and Middle East in strategic and operational area of Internal Audit, Financial & Business Controlling, Taxation and Compliance. Passionate about Business processes, analysis & controls and proficient in conceptualizing and implementing financial and legal processes. Proven ability to support operations, contribution in business growth and maximize stakeholder's value.
Overview
20
20
years of professional experience
Work History
CFO
Arfin India Limited
06.2024 - 11.2024
- Strategic partner as CFO with the MD and Chairman, to make available best financial business partner with the goal of reduced cost trade finance and capex, closely worked with Revenue, procurement, Plant team and define the SOPs and maximize the return
- Drive finance & accounting operations, due diligence, budgeting & financial control ensuring compliance with intl
- Standards
- Financial Planning and Analysis (FP&A): Led developing and implementing P2P across the organization, reducing payables by 20%
- Led MIS review, identified and recovered fully old outstanding in a month time of joining
- Capital Management: Well managed company's capital structure including debt and equity financing, assessed the Cost of Capital, determined appropriate sources of funding including TFP, BD on fintech and international platform with reduced interest cost by 2%
- Cost Management and Analysis: Optimized the cost efficiency across the HR function and overall employee cost, Operational cost and implemented the cost control mechanism
- Led Procure and HR department along with Import & Export team of 5+
- Financial Reporting: Ensured accurate and timely IND AS financial reporting to internal and external stake holders, overseeing the audit process, communicating the financials performance to the Board of Directors, investors
- Compliance and Regulatory Oversight: Ensured compliance with financial and SEBI regulations, FEMA regulations, Direct and Indirect Taxation including Customs, GST and Income tax applicable to the organization
Fractional CFO
Manufacturing Unit in Nigeria and Group co. in Dubai
08.2023 - 05.2024
- Strategy - Transform the overall financial operations, processes, controls, and strategy, develop action plans with measurable and quantifiable milestones, and direct teams to deliver best-in-class performance and increase ROI; set SOPs for 6 functions across the organization to reduce the BOD strategic time by 40%
- Oversaw budgeting, forecasting and financial analysis
- Advise on investment opportunities and financial strategies to maintain the sound financial health of the organization
- Financial Reporting and Compliance (including Tax) - Enhanced financial reporting systems, reducing reporting time by 50% as per IFRS/IND AS for internal and external stakeholders
- Operational Excellence + Cost Optimizations - streamline operational processes, policies and systems as per the company's mission and introduce innovative solutions to improve efficiencies and productivity to increase the PAT by 5%
- Forex and Treasury - Secured $30 million in debt financing to support business expansion
- Led minimizing forex risk by 10%
- Audit and Liaison- Lead & Participate in audits and implement effective internal controls based on organizational policies and statutory regulations and increasing accuracy by 50%
Finance Controller & Board Secretary
National Detergent Co. SAOG
04.2022 - 08.2023
- Shaped overall finance functions and advised on long-term business & strategic financial planning and decisions regarding Finance, Budgeting, Cash and fund Flow, Plant Accounting as per GAAP IFRS/IndAS, FX Management, Imports, Financial Controls, and Compliances
- Financial Reporting and Compliance - Coordinated with Tax / Stock Exchange / Compliance / Government Authorities, and worked towards the company's strategy, growth, capital deployment, and execution
- Worked with the Board to raise debt and equity funds, investor relations functions and liaised with bankers
- Financial Planning & Analysis - Steered the FPA team and worked on various operating financials, cost calculations, budgets, financial analysis, and inputs from a commercial point of view
- Ensured utilization of direct and administrative overhead cost allocation i.e
- Activity-based levels of effort across cost centers, product costing and margin analysis
- Controllership - Lead as the primary point of contacts for Internal & Statutory Audits, and addressed issues and gaps identified by the auditors
- Led Tax compliance across Middle East locations
Head of Finance & Accounts
EMSL (IL&FS Group)
12.2019 - 03.2022
- Led AOP preparation, forensic audits, budgeting, audit & taxation, cash management, accounts receivables and payables of construction of roadways, Toll plaza maintenance and Engineering, Procurement and Construction (EPC) projects
- Finance Leadership - AOP - Oversaw the execution of the annual budgeting process reducing the reporting time by 40%
- Led development and implementation of MIS review by enhancing the accuracy to 95% of data
- Restructured the complete finance function and ensured the proper functioning of all systems, databases, and financial software; worked with the board to design new policies and improve financial strengths (investment & capital structures)
- Led development and implementation of the Procure to Pay (PtoP) from scratch to 100% success
- Develop and implemented SOP for 7+ functions
- Finance and Account Operations - Core member of the Purchase and Operations Committee - Established business practices, enhanced cash flow planning process and ensured funds availability
- Led refund process for old GST and income tax of $ 1+ million
- Structured and implemented internal control disciplines to maintain the integrity and accuracy of financial reports
- Identified fraud of $0.5 million while reviewing the vouchers and contracts
AGM - Finance & Accounts - Tax Head
GTPL Hathway Limited
04.2010 - 11.2019
- Strengthening and consolidating groups' audit and reporting process for 30+ subsidiaries and 70+ JVs worth Consolidated revenue $ 280+ Million
- Presenting budget for PAN India including non-service functions
- Introduction and implementation of Compliance and governance structure on PAN India level, 30+ legal entities
- Led $ 58+ millions of IPO (Initial Public Offering) listing with team efforts and BRLMs and international legal team
- Led development and implementation of MIS for SFS and CFS, 100+ legal entities and 15 locations
- Led developing, mentoring, training and implementation of GST system for 100+ legal entities and 15+ locations
- Secured Income tax refund of $ 1.2+ million, 5 legal entities at PAN India level
- Restructuring of borrowings including treasury activities
- (Ave interest rate reduced by 2%)
- Implemented internal control disciplines (Ind AS) to strengthen the company's risk control system
- Spearheading a finance and non-finance team of 35+ across India
- Led legal and technical contracts for 7+ functions
- 100% completion of the company's physical verification of fixed assets and implemented a better system
- Set up Annual Operating Plans and presented them at the Annual Conference at various Europe location
- Stakeholder Management - Chaired weekly meetings with BOD and CFO
- Coordinated with BRLM (Book Running Lead Manager) Team, Legal Team and Cross-department Functional Heads
- Worked with the Revenue Assurance Team
- Controllership - Coordinated with auditors for planning, execution, and reporting of statutory and internal audits
Manager - Accounts
Siddhi Margarine Specialities Ltd.
02.2005 - 03.2010
- Contributed to Project Finance, Banking Finance, Commercial Finance and Import Operations
Education
Chartered Accountant (CA) -
ICAI
07-2006
Bachelor in Commerce - Accounts & Auditing
Gujarat University
04.2001 -
Certification in Artificial Intelligence - undefined
MSME, Government of India
Skills
Accounting & Audit
Taxation - India & MEA
Transfer Price - Domestic
Corporate Law & Legal
Treasury
Compliance and SOP
IPO - Listing of Cos
Merger & Acquisitions
Budget, MIS and Forecasting
Leading Global Teams
Business support
Business re-structuring
Accomplishments
- Improved financial reporting accuracy by 50% through system enhancements.
- Led a team of 35+ finance and non-finance professionals to achieve their and organizational objectives leading their performance to 95%.
- IPO listing with $ 58+ million addition to secured $ 60+ million for through various instruments of debt and equity.
- Lead the M&A, Due Diligence for $ 50+ million
Timeline
CFO
Arfin India Limited
06.2024 - 11.2024
Fractional CFO
Manufacturing Unit in Nigeria and Group co. in Dubai
08.2023 - 05.2024
Finance Controller & Board Secretary
National Detergent Co. SAOG
04.2022 - 08.2023
Head of Finance & Accounts
EMSL (IL&FS Group)
12.2019 - 03.2022
AGM - Finance & Accounts - Tax Head
GTPL Hathway Limited
04.2010 - 11.2019
Manager - Accounts
Siddhi Margarine Specialities Ltd.
02.2005 - 03.2010
Bachelor in Commerce - Accounts & Auditing
Gujarat University
04.2001 -
Certification in Artificial Intelligence - undefined
MSME, Government of India
Chartered Accountant (CA) -
ICAI