CFO's Go Beyond Their Role And Bring Strategic Thinking Into Play
As a Director (Finance) of National Fertilizers Ltd, can you please elaborate on your top three priorities during the next three years?
As a Director (Finance), my priority area shall be to arrange funds for both short-term working capital requirements for daily operations and long-term loan requirements for various energy reduction schemes and other ongoing capex schemes for upgradation of electrical and instrumentation systems, information technology, i.e., implementation of ERP, etc.. It will be my endeavor to arrange funds by negotiating better terms and lower interest rate. For management of working capital requirement and associated costs, the focus shall be to strengthen the system for timely submission of subsidy claims with Government of India (GoI), earliest realisation of subsidy claims, reduction in mismatch of cash flow and reduction in avoidable expenses. As the fertiliser industry is highly controlled industry and with the introduction of Direct Benefit Transfer (DBT), the timely release of subsidy by GoI will play an important factor in day-to-day working capital management. It shall be my priority and focus to arrange funds for the working capital requirement at cheaper rates so as to achieve cost reduction and cost savings through effective utilisation of resources to enhance the profitability and value of the company.
Can you highlight the strategic initiative which paid off well for your company during your tenure as a Director (Finance)? How did it help the company and also investors who have parked their money in your company’s stocks?
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