WAMAN SHETE
Chief Financial officer
Mumbai
Summary
Turning Impossible Situations into Inspiring Successes | Positioning Businesses for Sustainable Growth | Motivating Teams
Game-changing financial executive with more than 29+ years of experience and an impressive track record of implementing high-impact growth strategies, robust internal controls, and efficient reporting systems. Respected for maximizing profits with ethics and integrity. Relentless in exceeding ambitious financial goals while minimizing expenses and bottlenecks. Expert in training, leading, and coaching top-performing accounting teams.
Overview
27
27
years of professional experience
Work History
Chief Financial Officer
Aeroflex Industries Limited ( Listed Public Ltd )
8 2011 - 06.2020
- World’s Largest Stainless Steel Hose & Hose Assemblies Manufacturing Company
- Collaborating with the Company CEO to guide Aeroflex through its planned growth initiative and targeted profitability
- Mentoring the Finance, Stores and Planning Team of 20 Members
- Maintaining EBIDTA margin, WCR and FCF with tight control over Inventory, Debtors and payable,
- Ensuring compliance of Income tax and indirect taxes, FEMA, RBI and other regulatory bodies and proper assessment as per Statutory Acts,
- Ensuring the effective utilization of Credit Lines over INR 550 Mn
- Prepared Startegic Roadmap & IMPLEMENTED for Debt free company from stressed assets to IPO at better Business Valuation
- Improved cash flow, retired debt and built cash reserves to control costs and enhance benefits.
- Advised Board of Directors on strategic financial matters, providing insightful recommendations backed by thorough analysis.
- Managed and led direct reports to handle controllership, treasury and corporate finance functions.
- Tracked cash flow and financial planning to analyze company's financial strengths and weaknesses and propose strategic directions.
- Implemented cost reduction initiatives and process improvements to optimize efficiency and productivity.
- Devised systems to monitor, evaluate and track operational achievements.
- Championed effective communication between finance personnel and other departments to facilitate cross-functional collaboration on projects and initiatives.
- Established strong relationships with external stakeholders, including investors, analysts, and regulatory agencies to promote transparency and build trust in the organization''s financial management.
- Developed strategic financial plans to support company growth and achieve long-term objectives.
- Enhanced profitability with cost reduction initiatives, such as renegotiation of supplier contracts and process improvements.
- Oversaw deployment of strategic business plans to accomplish accounting, compliance, and revenue targets.
- Prepared accurate financial statements at end of quarter to summarize financial health and business performance.
- Emulated activist investors to generate return on invested capital.
- Managed risk effectively through comprehensive insurance coverage review and implementation of robust internal controls.
- Oversaw production, pricing and distribution activities to generate profit for company.
- Created and deployed initiatives to outperform revenue targets and increase company value.
- Delivered forward-thinking and bold insights to enhance business assets and report financial metrics.
- Provided insightful financial analysis for mergers and acquisitions, resulting in successful transactions that added value to the organization''s portfolio.
- Fostered a culture of continuous improvement within the finance team, encouraging professional development opportunities for staff members.
- Analyzed operational issues and implemented corrective action to maximize profits.
- Created, planned, and implemented policies and procedures to increase productivity and maximize return on investments.
- Increased cash flow by optimizing working capital management and reducing outstanding receivables.
- Analyzed inventory strategy, reduced expenses and renegotiated contracts with vendors to increase profit margin.
- Collaborated with legal, accounting and other professional teams to review and maintain compliance with regulations.
- Communicated business performance, forecasts and strategies to investors and shareholders.
Head Finance & Accounts
Cubatics Industries Private Limited
12.2020 - 08.2021
- India’s Largest Knitted Fabrics (Textile) Manufacturing Unit at Surat (Gujarat), Dying & Printing Yarn Unit at Surat (Gujarat) & Garments Manufacturing Unit at Bhiwandi Mumbai
- Head Office Mumbai, India
- Heading Finance & Accounts Dept of all above Units from Mumbai
- Directly Reporting to Chairman & Managing Director
- Assisted with day-to-day operations, working efficiently and productively with all team members.
- Resolved problems, improved operations and provided exceptional service.
- Closely collaborates with the Company Director to guide Group on its Growth Plans, Expansion of Units and Newly acquisition of 100% stake in another Unit in Dying & Printing at Surat.
- Accountable for the finalization of monthly, quarterly and year end Statements in Compliance with Indian Accounting Standard.
- Ensuring compliance of Income tax and GST, Strategy for obtaining missed ITC of past years of 30 Mn.
- Ensuring the effective utilization of Credit Lines over INR 800 Mn,
- . Compliance for New Bank Funding Requirement for New Acquisition of Equity , Expansion and Takeover of Existing Bank Loans over 1100 Mn.
- Ascertaining the General Insurance requirements related to factory, office,
- Handling and Renewal of Annual renewals of WCL,
Chief Financial Officer
Evergreen RecyleKaro India Private Limited
12.2022 - 11.2023
- India’s Largest Startup in Recycling Electronics Waste, Recyclers Of Scrap Lithium Battery and Manufacturer of evergreen Cobalt Sulphate Crystals In Navi Mumbai
- Manufacturing Units at Wada(Palghar)
- Heading Finance & Accounts Dept of all above Units from Mumbai
- Directly Reporting to Chairman & Chief Executive Officer
- Assessed company resources to keep business funded and nurture relationships with investors, lenders and key partners.
- Closely collaborates with the Company's MD & CEO to guide Group on its Growth Plans & Rapid Improvement in the Valuations of Company to Rs 2000 Crores.
- Attending Investors Calls and Preparations for Various Pitch Deck for Investment Proposals in the Form of Equity at 1000K times Premium Price.
- Working Capital Management and Fund Raising from Banks & Renewal of Working Capital Facility.
- Communicated business performance, forecasts and strategies to investors and shareholders.
- Collaborated with legal, accounting and other professional teams to review and maintain compliance with regulations.
- Initiated strategy to drive company growth and increase market share and profitability.
- Negotiated favorable credit terms with banks for increased borrowing capacity and reduced interest expenses.
Senior Manager (Accounts & Finance)
A Infrastructure Ltd ( Kanoria Group of Industries
07.2008 - 08.2011
- A Company engaged in the business of Manufacturing of Cement asbestos Sheets & Pipes for various projects in India
- Worked as an Accounts & Finance Head of units of the group at factory location
- Consistently met or exceeded annual performance targets set by senior leadership.
- Collaborated closely with peers from other departments to drive organizational success jointly as one cohesive unit.
- Reduced costs, optimized resource allocation, and improved efficiency in managing projects.
- Identified cost improvement changes and cost savings plans to increase company savings.
- Analyzed revenue distribution, bank reconciliations and account analysis documents to execute month-end closing.
- Managed senior-level personnel working in marketing and sales capacities.
- Established performance goals for employees and provided feedback on methods for reaching those milestones.
Manager (Accounts & Finance)
APT Packaging Ltd. (Formerly Anil Chemicals & Industries Ltd.)
08.2006 - 10.2007
- The Company is into the business of manufacture and sale of Plastic extruded tubes used in cosmetic, pharmaceutical Industry
- Spearheaded the overall departmental head of the accounts and finance section of the factory unit
Manager (Accounts & Finance)
Pradeep Fibers Private Limited
06.1996 - 06.2006
- The Company is into the business of manufacture of textiles and oil mill
- Worked as Accounts & Taxation head of a Company
Education
C A Final Group 1 -
Institute of Chartered Accountants of India
B.Com. (H) - undefined
Marathwada University, Saraswati Bhuvan College of Arts and Commerce
Skills
Financial Reporting
Budget Development
Accounting Principles
Financial Management
Corporate leadership
Business Forecasting
Cash Flow Management
Strategic Planning
Tax Planning and Strategy
Personal Information
Date of Birth: 07/15/1964
Languages
English, Hindi, Marathi
Training
- Recent Development in Auditing & Auditing Standard & Reporting Requirement, Mumbai, 04/12/2012
- CFO Summit, Mumbai, 2012, 2015, 2016, 2018, 2020
- Cost Reduction Mastery Program, 06/2020, 07/2020
Timeline
Chief Financial Officer
Evergreen RecyleKaro India Private Limited
12.2022 - 11.2023
Head Finance & Accounts
Cubatics Industries Private Limited
12.2020 - 08.2021
Senior Manager (Accounts & Finance)
A Infrastructure Ltd ( Kanoria Group of Industries
07.2008 - 08.2011
Manager (Accounts & Finance)
APT Packaging Ltd. (Formerly Anil Chemicals & Industries Ltd.)
08.2006 - 10.2007
Manager (Accounts & Finance)
Pradeep Fibers Private Limited
06.1996 - 06.2006
Chief Financial Officer
Aeroflex Industries Limited ( Listed Public Ltd )
8 2011 - 06.2020
C A Final Group 1 -
Institute of Chartered Accountants of India
B.Com. (H) - undefined
Marathwada University, Saraswati Bhuvan College of Arts and Commerce
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