India's best CFOs

The superheroes in a crisis year

BusinessToday.In

Updated Jul 1, 2011, 4:40 PM IST

1/14

s. mahalingam, cfo/ tcs
overall winner and for enhancing competitiveness through m&a

background: chartered accountant, has worked with tcs since 1970.
winning move in 2008-09: steered tcs during tough times, helped the company make its largest ever acquisition (cgsl).
challenge ahead: mahalingam will have to ensure that tcs holds onto some of the cost efficiencies it has achieved in fy09, even as it grows in a reviving market.
most likely to be heard saying: "let's mail the appointment letters."

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2/14

Best in Wealth Creation (large company)
V. Balakrishnan, CFO/ Infosys

Background: B.Sc. degree from the university of Madras. He also holds ACA, ACS and AICWA degrees. Has spent 19 years in Infosys; was at AMCO batteries earlier
Winning move: Repaying investor confidence with four one-time dividends
Challenge ahead: To put Infosys back on the fast-growth path
Most likely to be heard saying: "Cash isn't king, it's god"

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3/14

p. ganesh, cfo/godrej consumer products
best in wealth creation (mid-size company)

winning move in 2008-09: not taking foot off growth pedal.
challenge ahead: keeping the impetus in a highly competitive market, with rising input costs.
most likely to be heard saying: "focus on growing profitably."

read: superheroes in a crisis year | know more about him

4/14

ravi sud, cfo/ hero honda
best in liquidity management (large company)

background: pgdm from iim ahmedabad, aicwa, fcs. has spent 12 years with hero honda. previously was with eicher motors.
winning move in 2008-09: raised rs 425 crore in july 2008 which helped dealers sell better-than-usual numbers in the festive season.
challenges ahead: inflation, interest rates and crude prices.
most likely to be heard saying: "great companies are not built overnight."

read: superheroes in a crisis year | know more about him

5/14

Best in Liquidity Management (Mid-size company)
Anil K. Agarwal, CFO/ Titagarh Wagons

Winning move during 2008-09: Successful IPO, began work on revival of a sick company.
Challenge ahead: Grabbing share of wagon leasing business.
Most likely to be heard saying: "We don't have any longterm debt."

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6/14

Successfully Managing The Global Crisis (Large Company)
Koushik Chatterjee, CFO/ Tata Steel

Background: ICAI fellow; joined Tata Steel in 1995; VP, finance, Tata Steel (2004-2007); Group CFO since 2008.
Winning move in 2008-09: Raising capital ahead of requirement and then managing the crisis through management of liquidity.
Challenge ahead: Managing a multi-speed organisation where different units are moving with different priorities.
Most likely to be heard saying: "Sometimes you need to raise money when you don't need it."

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7/14

s.k. sachdeva, executive director/ finance/ahluwalia contracts
successfully managing the global crisis (mid-size company)

winning move during 2008-09: handling the commonwealth games village project.
challenge ahead: high inflation which could hit growth.
most likely to be heard saying: "finish today's task today."

ahluwalia contracts managed to ride the storm on the back of financial discipline, an optimum mix of clients and projects and good old-fashioned conservatism.

read: superheroes in a crisis year | know more about him

8/14

uday phadke president/ finance/ m&m
best transformation agent (large company)

background: the icai member started out in the internal audit division of m&m in 1973. headed various finance departments.
winning move in 2008-09: keeping financial balance while meeting funding needs without leveraging.
challenge ahead: staying abreast of changing external tax policies.
most likely to be heard saying: "grow a business as much as you want, but first ensure it is financially viable."

cfo mantras

create a buffer during the good times to pursue your strategic needs in the rough times.
supply funds to all businesses, but prioritise disbursals. don't hesitate to phase out projects.
constantly upgrade one's skill-sets to be in step with a complex financial environment.

read: superheroes in a crisis year | know more about him

9/14

kanubhai s. patel, cfo/ voltamp transformers
best transformation agent (mid-size company)

winning move in 2008-09: to stop taking fresh orders from real estate firms after april 2008.
challenge ahead: to be selective about customers, and not just increase capacity.
most likely to be heard saying: "creative destruction is a necessity of life."

voltamp has been able to grow faster than its peers in a tough year thanks largely to a quick decision-making cfo.

read: superheroes in a crisis year | know more about him

10/14

s.k. joshi, director (finance)/ bpcl
best cfo of a psu

background: c.a., mba. joined bpcl in 1978. in his current job since 2006.
winning move in 2008-'09: moved the entire dealers network online.
challenge ahead: sustain the firm even as it adheres to government norms.
most likely to be heard saying: "to de-risk our business model we are entering upstream energy fields as well as renewable energy"

read: superheroes in a crisis year | know more about him

11/14

s.v. narasimhan, director (finance)/ ioc
best cfo of a psu

background: c.a., mba. joined ioc in 1975. in his current job since july 2005; also, chairman of lanka ioc.
winning move in 2008-'09: finding a market for oil bonds and solving dollar requirements.
challenge ahead: rising global crude oil prices without commensurate increase in retail prices.
most likely to be heard saying: "we should not only tighten our belt but reduce our weight before we tighten the belt"

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12/14

Best CFO of a PSU
B. Mukherjee, Director (finance)/ HPCL

Background: C.A. joined HPCL in 1979. In his current job since 2008.
Winning move in 2008-'09: Creating a profit-focussed culture among SBUs.
Challenge ahead: Maintaining profitability in the organisation and making resources available for executing strategic projects.
Most likely to be heard saying: "Being a PSU we have the assurance that this company cannot go bust".

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13/14

Commitment to CSR
Gopal Mahadevan, CFO/ Thermax India

Winning move in 2008-09: Ploughed more funds into social initiatives on a chunky profit.
Challenge ahead: To bag more projects in energy and environmental solutions.
Most likely to be heard saying: "CSR encompasses all stakeholders: customers, employees, suppliers, shareholders and the government."

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14/14

Best in Treasury Management
Y.M. Deosthalee, CFO/ L&T

Background: LLB & chartered accountant; rose from GM (finance) in 1990 to sr. VP five years later with a board position. Has been CFO since November 2001.
Winning move in 2008-09: Hedged foreign currency loans well in time, which would otherwise have meant provisioning Rs 1,500 crore at the peak of crisis.
Challenge ahead: to prepare for and manage peaks and troughs in an economy over the lifecycle of a company.
Most likely to be heard saying: "The basic purpose of a treasury is to not just churn out profits but also manage risk effectively and protect margins."

read: superheroes in a crisis year | know more about him

India's best CFOs

The superheroes in a crisis year

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