Manager Finance, Chocolates | ITC Limited | Bangalore
Business Finance and Strategy
Led strategy & P&L for ITC’s ₹100Cr+ Chocolates division; ₹15Cr+ savings banked across 80 SKUs through profitability improvement
- Enabled launch of 20+ SKUs by structuring pricing, contributions and competition analysis contributing 20+ Cr. in turnover
- Achieved EBITDA improvement of ~2% by identifying exits from non-feasible segments and channels through financial analysis
- Strategized and sought sanction for entry into mall kiosk channels, using long term feasibility analysis, projected burn of ₹10+ Cr.
- Achieved annual cost savings of ₹12+ Cr. through initiatives in Manufacture vs Buy vs. Lease decisions and Inventory optimisation
- Strategically hedged against cocoa inflation by driving Chocolate MRP revisions, leading to higher contribution margins of ₹2+ Cr.
- Managed setting up of 2 new Contract Manufacturing Units for launch of new products contributing to addl. turnover of ₹40+ Cr.
- Reduced conversion costs by 20% through internal benchmarking and cost analysis, leading to more favorable margin negotiations
Controllership and FP&A
- Managed P&L for the category, handled statutory and internal audits, led a team of 5+ for financial oversight (₹97+ Cr. Asset base)
- Prepared and presented annual and 5Y business plan to Divisional Committee, capturing P&L, expansion plans and key financial metrics
- Saved 10+ man/days month by implementing SAP Analytics Cloud and BI automation tools for P&L reporting and MIS dashboards
- Achieved reduction in financial risks by adding/ revamping 10+ SOPs to strengthen processes and controls across finance functions
Manager Finance M&A | ITC Limited | Bangalore
Handpicked by CFO to oversee marquee acquisitions for ITC Foods M&A division; Sole manager selected for high-level team with CFO
- Evaluated 10+ high priority targets across FMCG & CPG startups; Led 2 deals of ₹500Cr; End-to-end responsibility across the deal cycle
- Yogabar: Second largest M&A deal for ITC Foods; 100% acquisition in top 5 protein bar companies; Deal size ₹450Cr (5x ARR)
- Evaluated the initial and variable exit consideration using NPV/IRR metrics, building DCF to evaluate returns under various exit scenarios
- Identified synergy benefits of 100Cr+ through salesforce and logistics optimization, manpower streamlining and mfg. incentives
- Facilitated integration into a 70,000+ retail network and ITC distribution infrastructure by structuring the transfer pricing mechanism
- Azgo: A smart vending machine startup; Closed equity infusion of 6 Cr. at a ₹36Cr valuation (7x ARR) and plan for 100% acquisition
- Negotiated a ₹14 Cr. discount in valuation for infusion by building business projections and complex financial model to value business
- Identified synergy benefits of 25 Cr.+ through disproportionate share of ITC sales in the vending machines and optimized distribution
- Validated 10-year expansion strategy in collaboration with the founder, arriving at cash requirements over the period for equity infusion
- Evaluated and submitted bids for Capital Foods (₹4,000+ Cr.), Organic India (₹2,000+ Cr.) Plix (₹600+ Cr.), and Manna Foods (₹550+ Cr.)
- Enabled the launch of Rightshift (Healthy Foods Brand) by developing a strategic business plan requiring ₹600+ Cr. burn before breakeven
Manager Finance Corporate Internal Audit | ITC Limited | Kolkata
- Led 6+ teams for in-depth audit across 15+ Units, identified 200+ issues & presented viable solutions to CXOs
- Investigated revenue leakages, detected over-payments & cost and utilization inefficiencies, annual inc. benefit of ₹1Cr+ in areas of Revenue, Manufacturing, Procurement, Finance and Taxes, Human Resources, etc.
- Liaised with 30+ functional teams, business leads & area experts, performed end-to-end process overview & control testing
Intern – Direct Tax | EY | Pune Aug 2016 – Aug 2019
- Independently managed consulting assignments by analyzing tax implications of cross-border M&A, Capital Gains, TDS, and Ind AS impact for clients with 2000 Cr.+ portfolios in the IT/Manufacturing sector
- Formulated litigation strategies and drafted submissions for tax litigation cases at income tax and appellate levels, addressing tax demands exceeding 100 Cr.