# Farmer to CFO | FT. MV Narasimham, CFO, Dr.Reddys, Amit Parekh, Finance Head, MCAP: ₹96,200 CR.

https://www.youtube.com/watch?v=6xQksyzHnB4

[00:00] for
[00:22] [Music]
[00:30] Today's episode is just not a
[00:32] conversation. It's more about a journey
[00:34] and I'm super super excited to introduce
[00:36] you one of the most incredible finance
[00:38] leader Mr. MV Narim. He's the CFO at Dr.
[00:42] Edis Laboratories is it's one of the
[00:45] most u you know respected farmer company
[00:48] globally.
[00:52] We also have Mr. Ahmed Parak on our
[00:54] show. He's the finance head of API
[00:56] active pharmaceut which is a subunit of
[00:59] Dr. Adis itself. He's an exceptional
[01:02] leader in terms of financial planning
[01:04] cost and execution. This episode is just
[01:07] not about numbers or some dry financial
[01:09] talks. This episode is more about the
[01:12] courage, the purpose and it's more about
[01:14] the legacy.
[01:16] I truly believe uh this episode has lot
[01:19] of critical insights. We'll try to
[01:21] understand their perspective, their
[01:23] mindset, their approach in life. What
[01:26] we'll do is let's try to knock his door
[01:28] and let's pull out some critical
[01:30] insights from Mian Nasiman and Amit Par.
[01:32] Join me guys.
[01:36] Okay.
[01:38] Hi Min. Hi Mit. Thank you so much for
[01:40] making your time today for us. Uh it's
[01:42] in fact it's a great opportunity for us
[01:45] to be uh you know have a situation like
[01:47] this where we can understand your
[01:49] mindset. they can understand your
[01:50] perspectives, your journeys. Basically
[01:52] uh this is a great platform for the
[01:54] young entrepreneurs to the young people
[01:56] who can leverage or you know they can
[01:58] learn different kind of a perspectives
[02:00] what is happening in the industry
[02:02] currently now and you know take some
[02:03] critical insights and apply to their
[02:05] genesis for the maximum impact right
[02:07] maybe to start with emian I see that you
[02:10] come from a very humble humble
[02:11] background right and a small village
[02:14] from Andhra Pradesh but if you look at
[02:16] today you are handling more than $3
[02:18] billion topline and also you have have
[02:21] an aspiration of hitting uh 10 billion
[02:23] mark right so I probably would say maybe
[02:27] in this whole journey maybe one or two
[02:29] person would have played your luck but
[02:31] I'm really curious to understand what is
[02:33] that other 99% of your story okay thank
[02:38] you Gautam and Amit for having me today
[02:42] for this program I'm very privileged
[02:45] honored you know for this entire episode
[02:47] I know what you're doing to understand
[02:50] about my life journey and how where
[02:54] today I'm there how I reached. So thanks
[02:57] to both of you for uh taking your
[02:59] valuable time on Saturday and spending
[03:02] with me.
[03:06] So if I had to say certainly in my
[03:11] life journey if I had to say always is
[03:15] like my dedication
[03:18] my efforts
[03:21] apart from these two luck also is there
[03:25] suppose if I see
[03:27] where I came today where I am no
[03:31] correlation honestly if you see that I
[03:33] came from a village I know nothing even
[03:36] my parents also don't know anything even
[03:38] I think they are today also there are
[03:40] illates and they cannot say so that
[03:43] extent I think I can tell you and from
[03:46] there today's I'm a global CFO for Dr.
[03:50] So that means is like a clearly in the
[03:53] initial days how I struggled how I put
[03:56] my dedication and took me here and in
[04:00] this definitely in the initial stages my
[04:04] parents my uncle and then later once I
[04:09] married my wife she put a major role in
[04:12] my growth journey and apart from all
[04:15] these things luck is a clearly I believe
[04:19] luck that plays a significant role.
[04:22] Okay, maybe in detail if you want to
[04:23] explain how did that happen. So one if I
[04:26] have to narrate suppose uh maybe I'll
[04:30] just little bit explain suppose in the
[04:33] initial stage. Sure. I'm from a small
[04:36] village in Andhra Pradesh and then we
[04:40] don't have anyone like educated person
[04:43] in my family. Okay. Which village is
[04:46] that? This is called Punipalam. Okay. in
[04:49] uh close to Kandukur town. It's a small
[04:52] village when I know suppose I completed
[04:55] my
[04:56] uh SSE 10th class in 1983
[05:00] March 1983.
[05:03] So in my village no one has studied.
[05:07] So then suppose it was up to fifth
[05:09] standard I used to go to in my hometown.
[05:13] Then from there 6th to 10th I went to a
[05:16] school. In my village no school is there
[05:18] and daily about 4 to 5 kilometers
[05:21] morning we used to walk or going to the
[05:23] school and then come back
[05:27] and then we apart from that we also have
[05:29] a huge agriculture uh activities in my
[05:32] house. Okay my parents my grandfather's
[05:35] house is a giant family. So we used to
[05:38] focus lot on agriculture. So that's how
[05:40] I also have a passionate about so much
[05:42] about agriculture. Okay. So in the high
[05:46] school time I before going to the school
[05:49] even after coming the school then I
[05:50] think we used to focus on the so much of
[05:53] agriculture activities. Right. So then
[05:55] up to 10th is like a third
[05:58] then thereafter I want to focus on
[06:00] agriculture. I don't have any ambition
[06:02] to study but like God also has given me
[06:07] great IQ. Okay. Then in the school I was
[06:10] a like a second topper. Awesome. Great
[06:14] second topper. Because of that then
[06:18] there's one person today's no more. Yes.
[06:23] Advise my parents. Okay. Why are you
[06:26] like asking him to focus? He is like
[06:29] studying very well. You guys have to
[06:31] push him for studies. Right. So with in
[06:35] that situation my mother asked me to
[06:39] study till that day I have not taken
[06:42] even from the collected my 10th plus
[06:44] mark list okay or even TC for applying
[06:49] suppose for the college admission so
[06:51] tomorrow is the like let us say last day
[06:54] today I went to the school and then uh I
[06:57] just collected all the documents next
[06:59] day I went to the college only one
[07:01] college nearby village No more colleges
[07:04] that is only the way and I also don't
[07:06] have any guidance setting what to study
[07:09] what to do so whatever I decided I
[07:11] applied for like those days I think
[07:13] there are two courses we used to call
[07:15] one is MPC MPC means like a go is a
[07:18] clever students and they used to uh
[07:21] study math physics chemistry and then
[07:23] there's another group called CC commerce
[07:25] economic civics right so I applied for
[07:27] both because I don't have any ambition
[07:30] to study so whatever it comes because of
[07:32] my parents are saying then I want to
[07:34] study so I apply for both then I got the
[07:38] CEC admission I joined once again there
[07:41] is a TU medium no English oh TU medium
[07:43] okay medium join okay then even still I
[07:48] have if you ask me between the studies
[07:50] and agriculture I'm very passionate
[07:52] about agriculture great okay and then I
[07:56] joined the college
[07:58] then every first five days college used
[08:01] to be there Monday to Friday just focus
[08:04] on uh college. Saturday, Sunday once
[08:06] again go back to the hometown focus on
[08:09] this is what used to happen in the first
[08:11] year as expected I failed English
[08:15] okay because I came from Tel medium I
[08:18] failed English then I thought there is a
[08:20] great opportunity to discont my studies
[08:22] okay then I went and told my parents I'm
[08:26] not interested to study because I failed
[08:29] in English now college will not allow me
[08:31] to continue my studies okay then Today
[08:35] in my family my mother's father is a
[08:38] grandfather is very uh visionary person.
[08:41] Okay. I can say today if you take any of
[08:44] the chairman of any of the company is a
[08:46] such type of person. He came to the
[08:48] college he asked the principal.
[08:50] Principal told no your grandson can
[08:53] write in the September there's a exam I
[08:56] think we conduct he can write he can
[08:57] continue the studies. So once again they
[09:00] pushed me to study. Okay. So then I do
[09:04] you do you regret that happening or like
[09:07] were you again? So today you asked at
[09:09] the one question luck that is called is
[09:11] you because of the luck I can say that
[09:13] because luck is there that's why they
[09:16] pushed me today if I'm just speaking to
[09:20] and then um I wrote in September my
[09:24] English then I became the college
[09:26] topper. Awesome. Awesome. my college
[09:28] stopper and then intermediate second
[09:31] year also pass and then then what to do
[09:34] because a a boy don't have any ambition
[09:38] to pursue further right so always focus
[09:41] on agriculture this is what used to
[09:43] happen right then I got a decent marks
[09:47] in the class one plus two then naturally
[09:51] being I'm a com student then I joined
[09:54] BCOM BCOM also is a telegraph through
[09:57] English. English means is one subject
[10:00] always English is like how to get the
[10:03] minimum marks. That is only the ambition
[10:05] not to learn English is not a motive at
[10:08] all at that time.
[10:10] Then become and uh become clearly
[10:14] focusing on agriculture activities as
[10:16] well as become I became a college topper
[10:20] in the BCOM. Awesome.
[10:22] So then after the my completed my BCOM
[10:26] in um March 1988
[10:31] okay then what to do it's a very clear
[10:35] go clear ambition to settle in
[10:38] agriculture okay then another side since
[10:42] like I got a good marks
[10:45] then people said why you are like
[10:47] focusing on agriculture you should not
[10:49] focus you should pursue studies. Then I
[10:53] thought of joining either Andra
[10:56] University or in Nagaja University since
[10:58] I got a good marks I can get a MCOM
[11:01] admission and once you study MCOM then
[11:04] you can set like a any in the bank or
[11:07] small job that itself is like a big
[11:11] ambition aspiration I think those days
[11:13] okay so that's what I was thinking then
[11:17] uh my uncle
[11:20] he was uh uh doing MTech in Anamala
[11:24] University. Okay. He he is the person
[11:27] knows some extent about what is next to
[11:30] be studied all these things. Uncle as in
[11:33] related my mother's brother ours is a
[11:36] giant family. Okay. Okay. Why were you
[11:39] so passionate about agriculture?
[11:41] So because I know um
[11:45] in our village I think we have seen my
[11:47] parents my grandparents I don't know
[11:49] other neighbors other than that I know
[11:52] we don't have any other activities in
[11:54] the village we have grown and then I
[11:58] also felt I don't know somewhere if
[12:00] agriculture whatever you do you can help
[12:02] I think so many people because you used
[12:05] to work I think you can that's where I
[12:07] know somewhere it's embedded into my
[12:11] philosophy, agriculture is a great
[12:12] activity and even know suppose today
[12:16] also if I go to my hometown I visit
[12:19] fields great so much of passionate about
[12:24] fields even uh some of the people will
[12:26] ask after your retirement what you do
[12:29] what is your next passionate area I
[12:31] always talk about agriculture right
[12:34] awesome so you have joined BSE no I
[12:38] joined BCOM BCOM okay so I joined and
[12:40] become and then become I got a excellent
[12:43] college topic. Okay. Then uh what to do
[12:47] next? Having got a good marks in the
[12:51] college. So I have a as usual no passion
[12:54] for further studies
[12:57] very much passionate about because we
[13:00] used to have a huge agriculture
[13:01] activities at in our village ma majorly
[13:06] tobacco chilies there a lot activities.
[13:09] Suppose you go to the field morning 6:00
[13:11] you come back in the evening 8:00 p.m.
[13:13] like that. So it's a lot of passion it's
[13:16] even despite so much of hard work you I
[13:19] used to enjoy that hard work today the
[13:23] same I do in my office as well that's
[13:26] what I know suppose is embedded right
[13:28] from know my um childhood days then
[13:34] after uh completing uh my BCOM then I
[13:38] was just going on in my mind what to do
[13:42] if I go for further studies Okay. So no
[13:45] guidance
[13:46] and then hence I have decided let me
[13:48] join MCOM MO I was just targeting two
[13:51] universities and university in Visa
[13:55] Nagajan University in Buntu. Okay. So
[13:57] this university if you go then my
[13:59] parents also uh they don't want to spend
[14:01] any money also at least you can get a
[14:04] free education and then maybe you'll get
[14:07] a any bank job in bank. I thought that
[14:12] itself is like a big job in my life.
[14:15] That would be great achievement. That
[14:18] was the thinking at that time. Then my
[14:21] uncle, my mother's brother was doing the
[14:25] Mtech at Anamalai University. Okay. In
[14:29] Tamil Nadu
[14:31] and uh his close friend
[14:34] is a chhatra accountant. Okay. Somewhere
[14:37] they would have spoken both and then um
[14:42] he has clearly told one thing
[14:45] either you do it CA or focus on
[14:48] advocacy. Okay. No choice is given
[14:52] and uh till
[14:55] BCOM I just followed someone says like a
[14:57] B in the my plus one plus two in the B
[15:00] come someone says okay study study
[15:03] that's what is my always is
[15:06] follow whether how difficult it is what
[15:09] it is without thinking just follow
[15:11] someone says but CA is like a tough
[15:15] course if I have to tell you those days
[15:20] It is like if 100 students rides the
[15:22] maximum either one or two students will
[15:25] pass
[15:28] and I never realized I don't have any
[15:33] strong strong background in English
[15:36] but CA no tele you have to compulsory
[15:41] study in English and pass.
[15:44] So somewhere we went in um uh end of 88
[15:49] to Chennai because Chennai was the
[15:51] famous for chartered accountability
[15:53] not in Hyderabad those days.
[15:58] We went there we met one uh person who
[16:02] is pursuing CA for like 11 to 12 years.
[16:07] He was fighting with CA course 11 to 12
[16:10] years not even passed one group
[16:13] then he understood our background three
[16:16] of us went he said you guys unfit for CA
[16:20] you do you guys don't have any English
[16:22] experience
[16:24] why you are thinking charted accounting
[16:26] chart very difficult please don't pursue
[16:30] CA go back either you focus on
[16:32] agriculture
[16:33] or join some MCOM or something he has
[16:37] advised but as usual I am a person like
[16:41] always wants something I decide then I
[16:46] want to attack and then I suppose I want
[16:48] to see the success
[16:50] that is my always style so I never
[16:52] understood what is how difficult it is
[16:54] see whatever it is okay someone has
[16:57] advised just join crack it that is only
[17:00] the goal so MBN I think my point of view
[17:04] here is I I think I understand that you
[17:08] know probably that time you might not
[17:10] have that awareness probably I'm sure
[17:13] you not even aware what is CA how many
[17:15] times you have that text and so on I
[17:18] think that power of belief okay you you
[17:21] thought
[17:24] feeling emotion and how did you carry
[17:26] forward that and generally people coming
[17:30] from a very humble background or a small
[17:32] village people have a self-doubt they
[17:35] know whether I can do or not or whether
[17:37] I can go to that uh level where people
[17:40] can you know take you as an example or
[17:42] something like that. How did you like
[17:44] you know what is that thing made you so
[17:46] motivated that you have believed
[17:48] yourself and you taken that step ahead.
[17:51] So sometimes I it's ignorance is like a
[17:53] blessing. It's like a self-confidence
[17:57] because whatever way I've seen the
[17:58] success in my studies and be it in uh
[18:01] SSE be it in uh my plus one plus two or
[18:05] become how I have seen the success. I
[18:08] thought if I put the efforts I can crack
[18:10] the CA. That is a self belief is the one
[18:15] that is what is I think made me to join
[18:17] CA then once I joined the CA then I
[18:20] realized I have just joined somewhere in
[18:24] like a very difficult course. Okay. But
[18:26] once I think I join then I don't want to
[18:29] go back in my uh batch mates I know
[18:33] suppose college almost I think eight
[18:35] eight or nine people have joined and
[18:38] within a month
[18:41] three to four people have discontinued
[18:43] okay it is impossible to crack so
[18:45] they've discontinued today they're at
[18:47] hometown I know still I have a good
[18:50] relationships with them then
[18:54] after joining
[18:56] I realized that only to crack I have to
[19:00] get a grip on English. That time only I
[19:02] realized till that time no realization
[19:06] no realization I think how English is
[19:08] important in the life
[19:11] then at that time I joined English
[19:14] coaching first I did the English
[19:16] coaching I learned how to construct how
[19:20] to write a sentence
[19:22] that's what I first I started that I
[19:26] have a I used to write a diary daily
[19:29] evening from morning to evening what did
[19:32] I do and then next day morning go to
[19:35] whoever is a English expert so how did I
[19:38] write where did I do mistake could you
[19:40] please advise so like that I learned the
[19:44] English that is the starting point
[19:47] that's how I picked up the entire
[19:49] English that's was happened somewhere uh
[19:53] 1989 okay
[19:56] then if suppose CA you have So
[20:01] if you pass is a 3S there are those days
[20:04] used to be like a four groups in the
[20:07] intermediate two groups and then final
[20:09] two groups used to be there then I
[20:12] decided having comedian
[20:15] background then let's not attempt both
[20:18] the groups one time
[20:21] let's try to crack each group wise
[20:25] so I gave my first attempt in November
[20:28] 198 89 okay believe me even before going
[20:32] to the exam also like there's a auditing
[20:35] paper used to be there can I write
[20:37] English in the exam hall that extent I
[20:40] think a lot of fear used to be there but
[20:42] God has given great gift once I study
[20:45] something always is like a excellent
[20:48] reproducing capabilities God has given
[20:49] it know that is a gift to me so
[20:54] then in the first attempt I clear the
[20:56] first loop that was like a major success
[20:59] major success.
[21:02] So I'm good at like in the studies at
[21:04] the same time I'm also very active in
[21:06] the social activities going to the
[21:08] movies going to see all I'm how active
[21:11] in the studies other side also very
[21:12] active so after passing the first group
[21:15] second group little bit I relaxed okay
[21:17] then I failed you used to burn college
[21:19] and go to movies I used to do lot I
[21:21] don't know for the movies I don't know
[21:23] suppose any of the social activities
[21:25] wherever it is there you can see very
[21:27] naughty it's like a very naughty I can
[21:30] tell you I don't know in this broadcast
[21:32] should I tell you all? I really want you
[21:33] to I really want you please share some
[21:37] naughty things you have done in your
[21:38] like in Chennai those days I know
[21:40] suppose any tel entire our tel industry
[21:43] used to be there in Chennai correct so
[21:45] any tel movie I don't know first they
[21:49] put the shows for like all the entire
[21:52] hero hero end producers directors I
[21:54] think that's how I think they used to do
[21:56] there is a film chamber mount road used
[21:58] to be there then whenever suppose with
[22:01] the relief movie if this is Friday they
[22:03] used to put shows in the Wednesday
[22:05] Thursday it's like in the afternoon show
[22:08] in the first show second show and then
[22:10] somehow we want to see the movie that is
[22:13] the goal so he's like how I used to
[22:15] study and similarly for movie also I
[22:18] have so much of passionate okay then
[22:20] somehow I know crack and then catch hold
[22:23] of someone used to see all the movies
[22:25] who is your favorite hero my favorite is
[22:27] hero is Balak Krishna
[22:30] but let me ask the other who your
[22:32] heroin.
[22:34] So who is your favorite actress?
[22:36] Anushka.
[22:37] [Laughter]
[22:39] Okay. So like that I used to have a
[22:43] clarify anushka seti or anushka Anushka
[22:47] seti. So I'm very clear that you know
[22:51] so that's how the second group I failed.
[22:56] When I wrote second group I failed. Then
[22:58] I realized no MVN you have to go back to
[23:01] your you should not compromise on your
[23:04] strength. Then once again I realized
[23:06] myself
[23:08] it's like a you should go back you
[23:10] should study like in the first year I
[23:13] can tell you because of I to learn the
[23:15] English to pass this group I used to
[23:19] study daily 16 to 18 hours. Oh 16 to 18
[23:23] hours first year like November 88 I went
[23:27] to Chennai number 89 I gave my first
[23:30] attempt exam not even no movie nothing
[23:35] only studies going for tions his only
[23:39] goal is how to crack CA that's it not I
[23:44] don't know suppose like no no today I
[23:47] have studied like 10 hours let's go
[23:49] enjoy that's not at all is like
[23:52] always is like a one aim CS should be
[23:55] passed. Awesome. I mean just on this
[23:58] context uh generally people coming from
[24:01] uh you know uh smaller villages to the
[24:04] towns and cities to study usually when
[24:06] you are part of a journey when you're
[24:08] part of a class okay uh usually how did
[24:11] you collaborate with other people did
[24:13] they humiliate you that they don't know
[24:16] English that you are from a telu medium
[24:18] especially in Chennai like you know how
[24:20] did you balance this kind of a things
[24:21] and you know how did you motivate
[24:23] yourself to go for it so you reminded me
[24:26] one Great example that also is like a is
[24:30] a clear best example
[24:33] when I joined I joined for uh costing
[24:37] tuition.
[24:39] Then um
[24:41] the professor has asked I think we used
[24:43] to have around 150 to 175 students. He
[24:46] did not ask any question to answer or
[24:49] anything. He just chosen he has asked me
[24:52] to just study the problem from the book.
[24:55] It is only English just you to read
[24:57] nothing. You need not explain you need
[24:59] not ask any question nothing. I just
[25:02] stood and then not even because I have
[25:04] so much of fear not able to read the
[25:07] English. I just stood. Then he made a
[25:11] one comment. If you are not able to read
[25:13] the problem why did you join CA?
[25:18] Do you think you can pass CA
[25:20] in the in front of like so many students
[25:23] 150 to 175 students? That is the
[25:25] question I think yes post
[25:28] being like a I am a village background I
[25:32] just here left not bothered about that
[25:36] question but always is bothering someone
[25:38] is like a humilated I in front of so
[25:40] many students that was in back of my
[25:43] mind when I passed the first group
[25:46] thinking is one of the subject I got the
[25:49] highest marks in my that subject then I
[25:52] went to him Look if you remember you
[25:56] accumulated me you said like how why did
[26:00] you join see see like today I got so
[26:03] much of marks in the casting is highest
[26:05] this reminds me of pushbar I think this
[26:08] also reflects then he said that's why my
[26:11] dear student because of me you got this
[26:13] so many marks
[26:16] so that is where is like sometimes I
[26:19] think whatever happens in our lives be
[26:22] it in the personal or professional
[26:24] First we should not
[26:28] lose our confidence. We should have like
[26:31] our self-confidence
[26:33] and then we should what you have
[26:35] strength those I always believe you have
[26:39] to use those strengths I know to move on
[26:41] in the life right that is the best as
[26:45] far as according to me if you ask me
[26:47] that is the best way of like a get the
[26:49] success in the life otherwise one thing
[26:53] I always feel maybe it is right for
[26:56] everywhere
[26:58] we should not have any comparisons
[27:00] In life absolutely if you once you have
[27:03] a comparisons then problem what happens
[27:07] then your self-confidence will go down.
[27:11] I mean I have one question on this part
[27:14] because in your journey you have uh
[27:18] given an instances where you have failed
[27:20] English and you wanted to come back to
[27:22] agriculture again in CA you went first
[27:25] month itself it was a shocking that you
[27:27] don't know English and you have to now
[27:30] you mentioned about self-belief all the
[27:32] things is fine but how do you create
[27:34] that because it's not easy easier said
[27:37] than done so is it because of your
[27:40] parents the way they bought you up, the
[27:42] way they interpreted your, you know, the
[27:45] the the qualities in you, how did you
[27:48] ignore the entire world and still
[27:49] believed yourself? What was the mantra?
[27:51] Because it's, as I said, it's a it's a
[27:54] great statement, self-belief,
[27:55] self-confidence, but you still have to
[27:58] internally work on yourself.
[28:03] So once again a here is like I always
[28:08] used to believe
[28:12] self-confidence is the mantra irrespect
[28:14] of whatever it happens I think once you
[28:17] have a great
[28:20] uh um confidence then I think you should
[28:24] be able to crack it and then sometimes
[28:27] what happens I think if you have a so
[28:28] much of aspiration I have to do I have
[28:30] to do Because as a boy I don't have such
[28:33] aspirations. Mhm. I I don't have like a
[28:36] I have to crack this otherwise my life
[28:38] is gone. I don't have such aspirations.
[28:42] So always suppose what I enjoy like even
[28:45] without thinking about how difficult it
[28:48] is and then at the same time suddenly I
[28:51] used to I used to be get like a very
[28:53] good uh
[28:56] um grip on the studies. That's where it
[28:58] is helped.
[29:00] That's where it has helped. So overall
[29:02] just if Gotham if I had to come back I
[29:04] can tell you very proudly
[29:07] given medium background how I joined CA
[29:13] within three and a half years
[29:16] because like in the intermediate second
[29:18] group I fail that's why there's a 6
[29:20] months it took I can proudly say like
[29:24] three and a half year I passed the C.
[29:26] Awesome. Great. I passed the se it was
[29:32] miracle I can say that like if you see
[29:34] like where how
[29:37] I've just progressed in my studies and
[29:40] then if I compare I think those days
[29:42] also many of my friends are people I
[29:46] don't know right from beginning English
[29:47] medium
[29:49] all these things
[29:52] but I always believe I don't know why I
[29:54] was able to crack my CA within three and
[29:56] a half here
[29:59] dedication
[30:02] self-confidence
[30:03] then clearly the CA has to be pass
[30:08] that's it that is only the goal and
[30:10] there whatever efforts I have and
[30:12] everything we put it then that's where
[30:15] we crack the CA so May 92 I gave a my
[30:20] final exam then I started my
[30:24] uh
[30:27] professional life in August 92. Awesome.
[30:30] I mean what was your first reaction the
[30:32] moment you saw the result?
[30:34] It was uh more than um if I had to say
[30:40] out of four groups
[30:42] if you ask me today when I th my when I
[30:46] passed my first group. Okay, that was
[30:49] could be Janu somewhere January 2000 uh
[30:52] January 1990. Okay, those days
[30:57] we used to get the results in the big
[30:59] nights. Okay. In the Chennai
[31:02] then we used to go and stand in the
[31:04] queue. It's like a lot of tension
[31:06] whether we pass or fail. And then we
[31:09] used to wait for 2 hours in the queue.
[31:11] Then when you go and see in the name
[31:13] board you will just see your role number
[31:16] name. If name is there only pass. If
[31:19] name is not there fail. Okay. Only pass
[31:22] or fail only you can see at that
[31:24] midnight. And then if there is like a
[31:27] 100 students the like either one or two
[31:31] students only will pass then balance 97
[31:34] 98 people used to get a disappointment
[31:38] whether you are in that category whether
[31:39] you are in this category is like a huge
[31:43] a problem so that's how is like when I
[31:47] pass my first group I thought a boy came
[31:51] from like a tele medium and then Jesse's
[31:54] name in uh board is like a really I
[31:59] don't think I don't know I have a joy
[32:00] what I got at that time versus I don't
[32:02] know even if today if I had know if I
[32:05] get if you give me like a big money also
[32:09] if you if you ask me which one you will
[32:11] weigh more between this or this I always
[32:13] weigh this that joy is like is like a
[32:16] you cannot count with money whom did you
[32:19] share the joy with the first person
[32:20] first person is a midnight it was like a
[32:23] only is like my roommates 7 I those days
[32:25] also there's no telephone nothing right
[32:28] no phones nothing if you have to do
[32:29] phone also and in my village also no
[32:31] phone it's always we used to
[32:33] communication is like a this letters so
[32:37] this was like a night to only my
[32:39] roommates and then I know we just
[32:40] conject
[32:42] one interesting fact which is coming out
[32:45] in your journey is uh the focus on the
[32:48] goal and invariably I have observed that
[32:52] you have always achieved your goal
[32:54] Now in today's generation this is very
[32:57] different you know people get into I'll
[32:59] do CA they get into it they try for a
[33:02] couple of times move on I'll do MBA if
[33:04] not MBA I'll do something else
[33:07] even in corporate worlds you know I try
[33:09] this function if it is not working I'll
[33:11] so people are not sticking to their
[33:13] goals now if I have to learn from you
[33:16] what made you know target first of all
[33:19] select a particular goal and once we
[33:22] entered into it like CA where there were
[33:24] a lot of hurdles including English etc.
[33:28] What made you continue and and what made
[33:31] you achieve that? I mean if you can
[33:33] throw some light around that and it will
[33:35] be of great learning to lot of us here
[33:38] and I've also seen since we have worked
[33:40] together many years in Dr. ities even in
[33:43] corporate world
[33:45] I I've never seen you not achieving a
[33:47] single target once you decide means we
[33:52] know it will be done uh so how it is
[33:55] happening what's your secret around it
[33:57] if decides one side what is one side
[34:01] so firstly Amed this is a a very
[34:06] uh great question
[34:09] I don't think there is a single
[34:12] It is always first it comes from a
[34:16] person what do you want it's a that's
[34:20] where I said first of all for any
[34:23] aspiration I always suggest that we
[34:26] should not have a comparison
[34:28] you should always go by what you want to
[34:31] achieve and for that what you have to do
[34:34] sometimes
[34:37] time your time may not come you must
[34:39] have a little bit patience
[34:42] Then till it comes till that what you
[34:47] want it till it knocks your door a
[34:50] person must have a patience be it in the
[34:53] personal life or professional life
[34:56] suppose I know even in this is my 25th
[35:00] year in Dr. Radis I always when I
[35:03] working Dr. Radis I want to one day I
[35:06] want to become a CFO for Dr.
[35:09] that is my goal I I don't have any other
[35:12] goal like I know suppose this thing
[35:14] journey in Dr. Radius I have a always is
[35:18] like a
[35:20] clear aspiration
[35:22] one day I want to become the CFO for Dr.
[35:25] This is the goal and as part of this
[35:27] journey so whatever I have to contribute
[35:31] I never compromised
[35:34] never lost my confidence
[35:37] in this journey there are several times
[35:39] I don't know there are difficult moments
[35:42] also were there absolutely but I always
[35:45] goal is like how I can become the CFO
[35:48] for Dr. That's the goal and as part of
[35:51] the journey then so that what I'm trying
[35:54] to say is like we should not shift our
[35:58] aspirations goals depends upon the
[36:02] context if there are difficult time
[36:05] comes we have to withstand we have to
[36:08] overcome without losing our
[36:10] self-confidence
[36:12] if you're clearly working on that maybe
[36:15] sometimes I don't know it's a what you
[36:17] want you can achieve immediately.
[36:20] Sometimes it will take longer time. I
[36:24] still recommend to the even I don't know
[36:27] suppose younger generation, our peers,
[36:29] our colleagues always be clear on your
[36:33] goals.
[36:36] Be clear what you want to achieve
[36:38] and at the same time this this is very
[36:42] easy to aspire these goals but at the
[36:45] same time we must put it our 100%
[36:50] efforts without efforts if you have
[36:52] goals if there is a imbalance between
[36:55] these two it will never I know sink
[36:58] so you a person continue to put the
[37:01] efforts continue to have a same goal and
[37:05] One day if these two goes like a
[37:09] parallel tracks and one day I'm sure I'm
[37:12] very confident a person can crack their
[37:15] aspirations and goals. I mean but that's
[37:18] a very good point AIT in certain cases
[37:20] for example people fail reasons could be
[37:24] a number that mindset of of accepting
[37:27] failure and getting another try. How do
[37:31] did you develop this kind of a
[37:33] capability? Because generally people
[37:35] once fail they get demotivated. We see a
[37:38] lot of cases like that. So how did you
[37:40] overcome this kind of a challenge? I
[37:42] strongly believe failure is a great
[37:44] learning.
[37:46] Failure is a great learning. If a person
[37:48] is have a failures more than success
[37:52] from failure a person can learn lot.
[37:55] But only the the crux there
[38:00] failure should not it's not like a
[38:03] demotivated we have to see where did I
[38:08] do the mistake how can I correct so that
[38:11] is called is like a learnings once say
[38:14] from the failures and if you just take
[38:16] the good part then the failure can lead
[38:20] to the a great success. Awesome.
[38:22] Awesome. I think it's a great point and
[38:24] I just like to elaborate a little bit
[38:26] more around this. I think success and
[38:28] failure are part of life. So we should
[38:30] not get very overwhelmed with it both at
[38:32] this time of success and failure. But
[38:35] one very slight different point of view
[38:38] what you said focusing on goal etc. Now
[38:42] during your journey as a target to
[38:44] become a CFO of Dr. ities I'm sure there
[38:47] would be many many opportunities would
[38:49] have come to you and we know that you
[38:51] have been awarded many times as the most
[38:54] uh you know eligible CFO in the country
[38:57] etc. So I'm sure many companies would
[38:59] have come and tried to get hold and you
[39:02] still know that there are many years to
[39:03] go before you become a CFO. How did you
[39:05] hold that uh you know u so to say
[39:10] attraction or moving away from this goal
[39:13] to becoming a com other company CFO etc.
[39:16] So how did you do that? I mean how I
[39:20] mean that shows your confidence also
[39:22] that you believe you had in you that you
[39:24] will become a CFO but it's very
[39:26] difficult you know more from financial
[39:28] perspective designation perspective
[39:32] u you know you get famous because you
[39:35] become a CFO so ignoring all this you
[39:38] still continued how did uh
[39:42] so before I answering one question I
[39:44] have to I must um
[39:48] speak about as suppose it's like a till
[39:52] qualifying CA
[39:54] now
[39:56] my wife Shoba entered in February 95 we
[40:00] married
[40:02] today if I see like I see there are two
[40:04] parts in my life up to 95 then post 95
[40:09] okay so today if I reach to this level
[40:14] her contribution in my success is like
[40:17] I don't know. I cannot count it. I
[40:20] cannot value it. It's like a she has
[40:23] contributed in my growth journey
[40:25] significantly.
[40:27] She is like a clearly gautam was asking
[40:31] what do you do when you go to
[40:32] supermarket? What you see? First of all,
[40:35] I never gone to supermarket.
[40:37] My contribution to the house is zero.
[40:41] Zero. I can say that I don't focus
[40:44] everything. Today suppose if I why I
[40:48] always think about my goal my aspiration
[40:51] because I don't have any issue
[40:56] where I have to think about I don't know
[40:58] house even I know some relatives are
[41:00] there even whatever activities she is
[41:03] the person she is the is like a boss for
[41:07] the house I'm like only just one guest I
[41:10] know suppose I come and then that's what
[41:12] is that so she takes care of that and
[41:14] then she made significant uh
[41:18] contributions in this entire journey.
[41:22] So the next question what you have asked
[41:25] is like a distractions in your journey
[41:28] and uh you know how do you avoid that?
[41:31] It is a once again I don't know whatever
[41:34] way it is like a many times I think
[41:37] there will be like a
[41:39] you get like a several opportunities
[41:41] what you have asked right outside
[41:45] or like a several several of your
[41:47] friends will say why you are continuing
[41:50] I don't know why you cannot do different
[41:53] you based on your experience I don't
[41:55] know you can get it just on that context
[41:58] for faster growth people switch but you
[42:01] did not choose that you stayed in 25
[42:03] years in the same company that's the I
[42:06] think broadly what could be the agenda
[42:09] behind that it's very difficult go I'm
[42:12] just saying a person I don't know today
[42:14] especially I see from many of the people
[42:18] that's where I I believe my it's my
[42:21] personal belief
[42:23] people think I don't if there is a too
[42:25] much of changes I the growth or
[42:27] opportunities comes I don't know quite
[42:30] natural
[42:31] Sometimes it can work but most of the
[42:33] times it won't work. It's my personal
[42:36] belief that's what personal view
[42:42] it's like a very especially when the
[42:44] difficult moments are there like when
[42:47] you get like a very you get like a very
[42:50] uh tempted offers or something on hand
[42:53] other side then this side I think you
[42:56] will have a difficult situations what
[42:58] you want to achieve I think this is what
[42:59] is not happening so definitely today's
[43:03] world I think many people will choose
[43:05] Right? What you have a opportunities
[43:08] which are easy to correct that's where
[43:10] it happens but in my case I have a being
[43:13] like my self-confidence level is very
[43:16] high and really I have a clear
[43:19] confidence what I'm contributing one day
[43:21] I can become CF of Dr. Radish. Awesome.
[43:26] So that is a single belief and then I
[43:30] never ever compromised on my efforts.
[43:34] Excellent. Whatever it comes
[43:37] amid know many of the times I don't know
[43:40] difficult situations
[43:42] not even as in a single time I lost my
[43:44] confidence. Mhm.
[43:47] Why this uh opportunity is not coming to
[43:50] me then why should I work right? So much
[43:55] efforts you are putting and then I think
[43:57] we should not work never ever come to my
[44:00] mind.
[44:02] Excellent. I always enjoy
[44:06] how to contribute to the company's
[44:08] growth. That is a single mantra. I also
[44:12] tell like if you ask any of my finance
[44:16] team colleagues
[44:18] in always
[44:21] ask for value contribution
[44:24] that's nothing but I say quantitative
[44:29] numbers have to be there not qualitative
[44:33] both are important qualitative and
[44:35] quantitative both are very much
[44:37] important if without quality
[44:39] quantitative will never come but some
[44:41] people will stop at like a process
[44:43] level. They may say we have contributed
[44:46] very well to this process.
[44:49] That's absolutely fine. Now
[44:52] my humble submission
[44:55] like a suggestion from there
[44:58] stretch
[45:00] further how that process improvements
[45:03] and whatever you have done how that can
[45:05] be converted into the value. Excellent.
[45:08] How that can be translated into value?
[45:09] Translated into the value. Once you
[45:12] translate into the value that is where
[45:15] that know you are going to be like a
[45:18] differentiated person as compared to
[45:19] others. All right. Absolutely right.
[45:22] Otherwise today I see many times people
[45:25] wow I have done this so much of
[45:27] excellent contribution. I've
[45:29] strengthened this process. They believe
[45:31] that process.
[45:32] I suggest from there one more step how
[45:36] that can be converted into the convert
[45:39] into the value. This is a very
[45:41] interesting one important aspect just
[45:43] going back to the goals no one is a
[45:47] journey like MBN where it's one of its
[45:50] own kind but uh if you really look at uh
[45:53] really when you look at the goal setting
[45:56] I think uh my perspective is we need to
[45:58] know what is my capability and what is
[46:00] the aspiration I'm doing if I'm aspiring
[46:03] or if I'm targeting something I have to
[46:06] work on it just aspiring will not help
[46:09] we need to if I I have to identify what
[46:11] are the things I have to do to achieve
[46:13] that. Work on it, work hard, build up
[46:15] the skill sets. Uh try to do what it
[46:19] takes to reach there. And in that
[46:22] journey, I personally feel that if you
[46:24] realize that there is a shortfall and
[46:27] you may keep on trying but there is a
[46:30] clear uh you know you may not be able to
[46:32] achieve it. There is no harm in going
[46:34] back and chasing another goal or
[46:36] targeting something different which will
[46:38] which will align with your skill sets
[46:40] capability and you know right because if
[46:42] you keep on targeting I mean MBN passion
[46:46] and uh skill sets everything matched but
[46:49] not everybody will have that journey and
[46:52] there is no harm in you know resetting
[46:54] your goals but have to be very mindful
[46:58] on what is your capability and what are
[47:00] the skill sets you have and what more
[47:01] needs to be done to reach that once you
[47:03] realize that then it has to be single
[47:05] focused then all the distractions will
[47:07] keep on coming but you have to be
[47:08] focused but this resetting is very
[47:10] important in life got it I completely
[47:13] agree here I think there's no
[47:16] um oneway process it's like a iterative
[47:21] process
[47:22] but only in this I know suppose we
[47:24] should not change
[47:28] our aspirations goals according to the
[47:31] situations
[47:33] Absolutely. That is the only just I
[47:37] think we have to be mindful. Absolutely.
[47:39] But Amit my understanding in a corporate
[47:43] setting okay not every team effort can
[47:47] be translated into value. Okay. Some
[47:49] teams are there which are can be
[47:52] measured only qualitative might not be
[47:54] quantitative. So in that case what is
[47:56] the view like you know uh what's your
[47:58] take on that? Because end of the day we
[48:01] can't say that those people are not
[48:02] attributed anything to the or not
[48:04] contributed to the value of the company.
[48:07] In that case what kind of an recognition
[48:09] we should provide to them or like what's
[48:10] the take overall on that process
[48:13] because some activities very tricky and
[48:15] a great question what you are asking
[48:18] just one thing because productivity is
[48:21] very very important at the same time
[48:24] some activities which are based on the
[48:26] productivity might not every activity
[48:28] can be for example it could be HR it
[48:30] could be different different functions
[48:31] are there internally that time what is
[48:34] your take how would you thought of it.
[48:38] So let me put it this way.
[48:43] You take like a maybe finance function.
[48:48] We call them as a enablers,
[48:52] right? And also
[48:56] entire finance team
[49:00] partners with business teams.
[49:03] So like a you can say I'll put a right
[49:08] process
[49:10] then if a finance person thinks
[49:15] ultimately just process what will happen
[49:17] process you put it you've given to the
[49:20] business person right then if you
[49:23] believe you are a finance person you
[49:25] have your responsibility
[49:29] just to ensure the right process know
[49:33] guidelines Whatever you call it
[49:36] ultimately whatever you do
[49:39] somewhere that has to convert into the
[49:41] value
[49:43] be it whether you are like a directly
[49:44] responsible or indirectly responsible.
[49:49] It is like a that is where I think a
[49:51] finance person stretches
[49:54] with
[49:56] business teams like a need not be like a
[49:59] directly responsible indirectly if
[50:02] suppose is a business person has to get
[50:04] X value and because of your
[50:06] interventions because of your support
[50:10] that X plus what it can become that's
[50:13] what I call it as a value contribution
[50:16] okay be it you take any dipex person, HR
[50:20] person, a finance person, anyone
[50:22] ultimately is a company has to get value
[50:26] right in that journey how you can
[50:28] contribute whether it's a directly
[50:30] indirectly that's what I'm referring
[50:33] got it I think it's a very very
[50:35] important point because many times we
[50:37] get carried away with uh processes and
[50:40] SOPs in the company but those things
[50:43] should not become an hurdle to the
[50:45] business number one number two we should
[50:47] always try to simplify and see how we
[50:49] can enable business to grow and uh
[50:52] generate more profits for the company.
[50:54] And uh when finance comes into picture,
[50:57] one thing is for very sure is we ensure
[50:59] things are done in the right way and
[51:01] within that right framework. Uh there
[51:04] are various ways of uh you know like you
[51:06] are a DPEX person, IT person, you can
[51:09] generate a lot of insights through AI,
[51:11] through data and that insights can help
[51:15] business achieve more revenues, more
[51:18] profits, costsaving etc. So I think u we
[51:22] are not saying we have to go and sell
[51:23] products but somewhere uh we have to
[51:27] contribute in generating more revenues
[51:28] and the profits for the company because
[51:30] the role of finances changed a lot and
[51:33] it is ever changing now right it's no
[51:36] longer about bookkeeping it's no longer
[51:38] about reporting that's given I think uh
[51:41] we are now a business partner uh enabler
[51:45] of the business keeping in mind that
[51:48] compliance and risk is also a integral
[51:50] part of finance. So I think and with
[51:52] this technology uh coming in especially
[51:55] the data insights AIS I think the role
[51:58] of finance is absolutely changing uh
[52:01] ever and many companies you would have
[52:04] seen not just here but uh if you look at
[52:08] across the globe there are many
[52:10] companies where CFOs has ultimately
[52:12] become CEOs of the company which is
[52:14] which would mean that CFOs is operating
[52:17] in a in a very business mindset in a in
[52:19] a mindset where profit is a driver and
[52:22] he helps drive the business. There are
[52:24] many companies in the world. Uh and in
[52:26] fact our CEO who Arez as one point of
[52:30] time was a finance person and in his
[52:32] earlier company and now he's a CEO of
[52:35] global just to be on that do we require
[52:38] CA compulsory to become a CFO? No no not
[52:41] at all and Dr. case you have like a
[52:44] showman um is like a MBA it's not I
[52:48] don't know suppose once it become like
[52:50] to CFO is like a how you see the
[52:55] situations
[52:57] how you drive the C how you balance the
[53:01] uh short-term versus long long-term
[53:04] goals it is like a once you have a rich
[53:06] experience is not a CA is like a
[53:09] mandatory to become the uh CFO
[53:14] Amit coming to you now. What's your
[53:16] story looks like? How did you start your
[53:18] finance journey and where are you from?
[53:21] Like please let us know. So um
[53:24] fortunately you know God has been very
[53:27] kind to me. Uh
[53:30] we were from a middle-ass background. So
[53:32] I've got everything what I wanted in my
[53:34] journey. But u interesting fact is my
[53:38] entire family is from the business
[53:39] background. Okay. And both from my
[53:43] mother's side and my father's side,
[53:45] everybody is a businessman. And you
[53:48] won't find anybody doing job or forget
[53:50] about professional. So till class 8, I
[53:53] always thought I'll join my dad's
[53:55] business. Uh focus was to complete 10,
[53:58] go to college, have fun and then join
[54:01] business like my brother was planning.
[54:05] uh but as you you know there is always
[54:07] some divine intervention and I'm a firm
[54:10] believer that uh uh god is always there
[54:13] to guide you. So in class 8 uh I was
[54:17] good in studies but never putting so
[54:19] much of effort. Um there was a science
[54:23] teacher uh who used to also teach maths
[54:26] and he somehow was fond of me uh not
[54:30] because the I was always a you know
[54:34] notorious guy in the class but he
[54:36] somehow when I came to class 9 he told
[54:38] me focus on this focus on that and I
[54:42] said he's just trying to guide me let me
[54:44] do what he's he's telling me to do
[54:47] interestingly in first term in class N
[54:51] uh guy who never came in top 10 till
[54:53] class 8 suddenly came first in the
[54:55] class. Okay. So I was also very
[54:57] surprised what has happened and then he
[55:00] called me and said you have a potential.
[55:02] Why are you not focusing on studies?
[55:04] Give it a shot. I always said my focus
[55:07] is not there. I want to go back to
[55:08] business. Always join my dad's business.
[55:10] But then studies will always help you.
[55:13] Why? Do your best and see what happens.
[55:15] And as I was going in, I realized that I
[55:19] was enjoying studies more than anything
[55:21] else. Okay. I was very heavy on sports.
[55:24] So focusing everywhere like sports,
[55:27] studies. And when I came to class 10, we
[55:31] were having IC board. Which float used
[55:34] to play? Sorry, which sport you used to
[55:35] play? Cricket. Cricket. Okay. Yeah. So I
[55:38] played up to under 16 uh in in I mean I
[55:41] almost went to Bengal selections. So up
[55:45] to that but when I came to class 10 it
[55:47] was ICC board and I topped the school uh
[55:51] got very good marks in maths 99 out of
[55:53] 100 one of its first kind in that point
[55:56] now I think a lot of people get it but
[55:58] those error it was uh first time then
[56:01] again I focused in class 12 and I got a
[56:04] very good tuition teacher again he
[56:06] guided me that you know 12 if you get
[56:09] more than 90% you can get in this
[56:12] college so I got very good marks in to
[56:15] again topped the school and I was very
[56:17] fortunate to get admission in SEIS
[56:19] college Kolkata which is one of the best
[56:22] colleges in the country. Okay. After
[56:24] Sriram College Commerce uh Senz Commerce
[56:27] is one of the best. Okay. So I went in
[56:30] there and then realized that I can do
[56:33] much more in studies than going back to
[56:36] business and uh only and I'm very
[56:40] fortunate. My parents never pressurized
[56:41] me that you have to study or you have to
[56:44] come to business. They said do whatever
[56:45] you want to do. We are always there
[56:47] behind you. But make sure you are honest
[56:49] in whatever you're doing and uh be
[56:52] committed and have focus on your target.
[56:55] You fail you success is a different
[56:57] matter. Give your best and do whatever
[56:59] you want. So that helped. there was
[57:01] never a pressure on me to achieve
[57:03] something or show it to someone or and I
[57:07] think u things just went on and as I
[57:11] said there is a divine intervention
[57:12] god's blessings parents blessings one
[57:15] after another u I cleared even CA was a
[57:19] very memorable journey um I almost
[57:22] cleared everything for short there was
[57:25] only one time where in intermediate we
[57:27] had BCOM exam and intermediate exam on
[57:30] the same day. Okay. So that two I gave
[57:33] and same timing same day. So I completed
[57:35] BCOM instead of 3 hours paper I
[57:38] completed 2 hours traveled reached half
[57:42] an hour late to the CA exam got a
[57:44] special permission to reach late and all
[57:47] this we did and fortunately I cleared CA
[57:50] for short all through and so it's been a
[57:54] very but I would say it it it demanded a
[57:58] lot of dedication hard work focus it has
[58:01] not come easy uh because I had to
[58:03] sacrifice a lot. At one point of time, I
[58:05] had to choose between cricket and
[58:06] profession. Okay. So, I always felt I
[58:09] was very good in cricket. So after class
[58:13] 10, I gave away my cricket coaching,
[58:15] professional way of playing. I
[58:17] completely focused on studies. Then I
[58:20] used to also play guitar. So after class
[58:23] 12, I stopped guitar also because I was
[58:25] not able to focus. So in the journey,
[58:27] there were some choices I had to make.
[58:30] But I think things have paid off well.
[58:32] Professionally uh largely I've worked in
[58:34] two companies. Uh when I became CA I got
[58:38] selected in Tata Suns
[58:41] worked in Tata Group largely in Tata
[58:43] communications. I have very fond
[58:46] memories of Tata Group. Um I have a
[58:50] mentor in Tata Group who I'm still
[58:52] connect with Mr. Harish Vijandani who is
[58:55] right now global CFO of Ola. Um and once
[59:00] I left Tata I never thought I'll be able
[59:02] to work in a company like Tata but
[59:04] fortunately again I joined Dr. Edy's and
[59:07] MBN is a person who took my interview.
[59:09] Oh okay. And but I mean I think but only
[59:14] one thing uh yes had you continued
[59:17] cricket we would have seen in IPL
[59:19] matches
[59:21] [Laughter]
[59:22] that IPL was not there instead of seeing
[59:24] it
[59:27] you like playing for any of the state. I
[59:29] think at that time IPL was not there. So
[59:32] no that distraction was not
[59:35] uh but anyways MBN took my interview and
[59:38] uh thanks to him I'm in Dr. Ed and uh
[59:42] that's how it is. It's 15 long years
[59:44] now. Uh there's been many ups and downs
[59:47] in the journey but I think uh we need to
[59:51] work hard. We need to be focused,
[59:53] dedicated and you need to be honest in
[59:55] whatever you're doing and very
[59:57] importantly do whatever with lot of
[59:59] passion. passion is not there then
[01:00:02] whether it's sports whether it's studies
[01:00:04] whether it's profession nothing can help
[01:00:06] you well I think Indian aid what I so
[01:00:08] far understood here is I think when you
[01:00:11] saying self-confidence and you're saying
[01:00:13] hard work you know that determination
[01:00:14] commitment towards it I think first
[01:00:18] accomplishing small goals maybe for you
[01:00:21] 10th class it could have been or 11 12
[01:00:23] for the same thing I think once you
[01:00:26] start accomplishing small goals has
[01:00:28] started giving you much more confidence
[01:00:29] Absolutely. Okay. That small small steps
[01:00:32] has begun a large step for you. I think
[01:00:34] in a journey if you look at it uh I
[01:00:38] think that's something critical the
[01:00:40] small step if you have failed it people
[01:00:42] have not taken a step back you still
[01:00:44] gave it a try you people were committed
[01:00:46] you people were consistent and you
[01:00:48] people were like yes I need to do that
[01:00:50] you people have done that post that that
[01:00:52] small small steps have gain you much
[01:00:54] more larger where today people are
[01:00:56] leading a like you know one of the
[01:00:58] farmer gens which is globally a very
[01:01:01] reputated uh generic player I think
[01:01:04] That's excellent Amit and I mean but on
[01:01:06] the same context generally mathematics
[01:01:09] it could be or you know CA finance it's
[01:01:11] a nightmare for many people trust me
[01:01:14] even today I don't understand uh all
[01:01:16] those jargon in finance but how did you
[01:01:20] people get that for example for a doctor
[01:01:23] you know maybe these names of the
[01:01:25] medicines it's so complicated similarly
[01:01:27] if the finance they have their own
[01:01:28] language how did you guys get that
[01:01:30] flavor you know probably maybe Pakistan
[01:01:32] with Amit then I So I think it's also
[01:01:35] about your interest what you want to do.
[01:01:38] You can't be playing football when you
[01:01:40] are interested in cricket. Same way you
[01:01:42] can't be doing commerce when you are
[01:01:44] interested in science or vice versa.
[01:01:46] Mhm. First you need to know what's your
[01:01:48] interest and then hard work has to be
[01:01:50] there. So if you're interested if it is
[01:01:53] your liking I think that's where the
[01:01:55] first step is. Okay. Coming to small
[01:01:57] success it's very important because it
[01:01:59] builds on your confidence. uh for me uh
[01:02:02] clearing u CA was a big big high. I
[01:02:06] still believe when I cleared my CA final
[01:02:08] is one of my most memorable
[01:02:11] uh moment in my life and second most
[01:02:13] memorable was when my daughter was born.
[01:02:15] Okay. So but still CA clearing CA is
[01:02:19] still my first. Okay. But that is uh I
[01:02:21] mean it it boosts your confidence. It
[01:02:24] gives you a path in your career, a
[01:02:26] clarity in your life and believe me it's
[01:02:29] still one of the toughest exams in the
[01:02:32] country and um and it doesn't come easy.
[01:02:36] So that's how it is. What about you? So
[01:02:39] you very well said Gautam is like a
[01:02:42] always the incremental approach like a
[01:02:45] small small small success that I don't
[01:02:48] know gives you enough confidence
[01:02:51] then what you are thinking what you're
[01:02:53] doing in the both I don't know personal
[01:02:55] professional I know the same approach it
[01:02:57] can work right certainly not it can it
[01:03:00] will work I'm just saying that is where
[01:03:02] otherwise without achieving the small
[01:03:04] goals you cannot uh think like a big
[01:03:07] bold goal the big bold goal has to be
[01:03:10] there and then then know for each step
[01:03:13] you have to see the success and then you
[01:03:15] can achieve there so that is the right
[01:03:19] approach there's no doubt on that
[01:03:22] absolutely a CAS are known as the steel
[01:03:26] frame of India and also just one more
[01:03:29] thing you ask suppose how you guys have
[01:03:32] become I don't know each of the
[01:03:34] profession
[01:03:35] is like clearly there's a A lot a person
[01:03:39] has to learn right. Of course as a being
[01:03:41] like we are the finance professionals as
[01:03:44] a naturally whatever we do is like in
[01:03:46] the finance function we can uh learn
[01:03:48] definitely we can but at the same time
[01:03:51] today's in today's world if you have to
[01:03:52] success if you are a finance person as
[01:03:55] if you are only restricted to the
[01:03:58] finance domain it will not be helpful
[01:04:01] right a person if you have to become
[01:04:03] like a allrounder need not be knowing in
[01:04:07] depth but nittyg gritties of like Okay,
[01:04:10] each of the area suppose a person must
[01:04:14] have a full understanding then only
[01:04:17] suppose when you grow in the career then
[01:04:20] what happens here if you don't have
[01:04:22] those if you don't pick up those areas
[01:04:27] then I know the a lot of huddles lot of
[01:04:31] I think challenges can come in your
[01:04:34] professional journey so at the same time
[01:04:37] when you're building your career in the
[01:04:38] respective areas and what is required in
[01:04:42] other areas. A person must invest that
[01:04:45] time and must pick up I think those
[01:04:47] learnings and then it can then it
[01:04:50] becomes a person can become very solid
[01:04:53] professional. Absolutely. Absolutely.
[01:04:55] Just to add here I think uh whichever
[01:04:58] industry one works and whichever company
[01:05:01] you should know the industry you should
[01:05:02] know the company domain expertise domain
[01:05:04] expertise is must you should have
[01:05:06] functional knowledge but also what is
[01:05:09] company doing what are the other
[01:05:11] functions like if I'm in farmer I should
[01:05:14] understand how the medicines are made
[01:05:16] right I can I just can't be saying that
[01:05:18] uh you know debit credits P&L bales no
[01:05:22] we have to understand the entire
[01:05:24] manufactur ing process, clinical trials,
[01:05:27] how medicines are getting approved in
[01:05:29] the countries, what are the nuances
[01:05:31] around it, then only one can contribute,
[01:05:33] then only one can enjoy the work.
[01:05:35] Otherwise, you just you're not just
[01:05:38] there to just uh uh report the numbers.
[01:05:41] And if you really want to contribute
[01:05:43] across, you have to have an end to-end
[01:05:45] view about whichever industry you're
[01:05:47] working on, whether it's pharma,
[01:05:49] manufacturing or anything. That's very
[01:05:52] important. Uh Emir Amit I have a
[01:05:54] question to you.
[01:05:56] Uh today CS are known to be the steel
[01:06:00] frame of India. Okay.
[01:06:03] Uh it's said that CS have the power
[01:06:07] either to make India or break India.
[01:06:09] Okay. Now if you look at our GDP I think
[01:06:13] uh this year somewhere we are trending
[01:06:15] four plus trillion nominal.
[01:06:18] In case if you want to reach five
[01:06:20] trillion or six trillion whatever the
[01:06:21] projections in future it's in the hands
[01:06:24] of the CS okay now when you compare to
[01:06:26] the uh mature markets it could be US
[01:06:31] Europe or you know China etc stuff uh
[01:06:35] I think we are still lagging okay you
[01:06:38] think C have any critical game in this
[01:06:41] uh why we are still underdeveloped we
[01:06:43] why we are still developing where some
[01:06:46] countries have boosted the economy me to
[01:06:48] exponentionally like you know in a very
[01:06:50] short span of time they have gone very
[01:06:52] high. Now when we have a such a strong
[01:06:55] curriculum, such a strong uh like you
[01:06:58] know mindset in terms of uh education
[01:07:01] etc. So so on where are we lagging? Are
[01:07:04] we are the CAS trying to help uh some
[01:07:08] people in a negative way or is it like
[01:07:11] you know uh just want to understand
[01:07:13] where is the leakage basically
[01:07:15] any thoughts on this probably I can
[01:07:17] start with MBN
[01:07:19] so it's um
[01:07:22] I
[01:07:24] have a different view Gautam here it's
[01:07:27] not I suppose given a few of the
[01:07:29] examples of I can quote
[01:07:32] suddenly India is like a growth where
[01:07:35] suppose our honorable finance minister
[01:07:38] what she is speaking where we want to
[01:07:40] achieve at 5
[01:07:42] and then so certainly we are in the
[01:07:44] right path and in this journey
[01:07:49] I can say it's a CA professionals I
[01:07:53] think are playing crucial role apart
[01:07:56] from CA professionals I don't know today
[01:07:58] it's not only CAS I think all other be
[01:08:01] it MBAs
[01:08:03] suppose so uh
[01:08:06] uh digital savvy many people are
[01:08:08] contributing to this uh journey so like
[01:08:12] if I have to speak I don't know you can
[01:08:14] see we have implemented for I don't know
[01:08:17] country GST in 2017
[01:08:21] when we started our collections are you
[01:08:23] know less than
[01:08:26] it's like one lakh crores or something
[01:08:28] but now you see like over a period of is
[01:08:31] 7 to years how much know the collections
[01:08:34] have improved in this journey definitely
[01:08:37] if you have a right system and right
[01:08:41] process and then if you simplify if you
[01:08:43] are helping the businesses the growth
[01:08:46] naturally it will come
[01:08:49] so that is where I see that I know more
[01:08:51] than it's a CAS are playing like a very
[01:08:55] crucial role in this entire journey so
[01:08:57] like to have a right compliance and
[01:09:00] governance
[01:09:02] and then helping the country as well as
[01:09:05] helping the all the
[01:09:08] entrepreneurs as well as so you're
[01:09:10] saying there there's no leakage I'm
[01:09:12] saying of course in any system there
[01:09:14] will be leakage I'm not saying that the
[01:09:16] leakage is zero but always we have to
[01:09:19] see where we have a positive side then
[01:09:21] we have to move on and then how we can
[01:09:24] minimize this leakages there way we can
[01:09:27] continuously can see the growth
[01:09:30] otherwise if you're focusing on the just
[01:09:33] trying to uh see the how you can um
[01:09:39] minimize the leakages of course we have
[01:09:41] to do but rather than focusing this side
[01:09:43] I think rather than I think where
[01:09:44] there's a opportunities potential is
[01:09:46] there if you play on that and then that
[01:09:48] growth automatically it comes
[01:09:51] right Amit I have a question for you um
[01:09:55] how farmer finance is different from
[01:09:57] other industry finance
[01:10:01] I think very interesting and uh
[01:10:04] and also if I personally look at my
[01:10:06] journey, I always wanted to uh get into
[01:10:09] an industry which can help make
[01:10:11] difference in people and uh pharma is an
[01:10:14] industry where we make medicines and uh
[01:10:18] you know and medicines can help uh save
[01:10:20] lives.
[01:10:22] Uh Dr. already believes in good health
[01:10:26] can't wait and we really live to our
[01:10:28] purpose of making available affordable
[01:10:31] medicines to the patients and on at the
[01:10:34] right time.
[01:10:35] Finance has a huge responsibility of
[01:10:39] making sure that goods are procured at
[01:10:42] the right price. We can contribute in
[01:10:44] many ways. Um helping you know reducing
[01:10:48] the cost of manufacturing, helping uh
[01:10:52] removing the wastages,
[01:10:54] um identifying the leakages, identifying
[01:10:57] the wastages, um giving insights so that
[01:11:00] we can procure raw materials at the
[01:11:03] right price, capturing the market. So
[01:11:05] overall I think uh finance can play a
[01:11:08] massive role in pharma and that's what
[01:11:11] we have been doing also that how do we
[01:11:14] optimize on the cost of production how
[01:11:16] do we optimize uh on operating cost uh
[01:11:20] we have an agenda in Dr. Ed where
[01:11:23] operational excellence becomes a very
[01:11:25] integral part of the way we live and
[01:11:28] finance is also the core part of that uh
[01:11:30] drive so
[01:11:33] each of us in Dr. trades finance
[01:11:37] are very proud that somewhere or other
[01:11:39] directly or indirectly we contribute to
[01:11:41] the lives of the people and I think
[01:11:44] that's a massive when I go back home I
[01:11:46] always feel very satisfied that you know
[01:11:49] whatever we doing is contributing at the
[01:11:51] end of the day to help save life
[01:11:54] eliminate diseases and uh we also
[01:11:57] manufacturing lot of complex product and
[01:12:00] um we are known to launch products at a
[01:12:05] not at a very exhaustive prices.
[01:12:08] Innovator may be selling at very high
[01:12:09] price. We try to be we don't keep profit
[01:12:12] in mind always. We see where is the need
[01:12:15] and if it means that u you know uh we
[01:12:18] compromises on our margins we do that
[01:12:20] but make our products available and
[01:12:22] there can be numerous examples. Amazing.
[01:12:25] COVID has been a time where Dr. Ed like
[01:12:28] many other pharma company but Dr.
[01:12:30] already were forefront in the entire
[01:12:34] journey uh in India where we tried to do
[01:12:37] so many things in during the time of
[01:12:39] covid maybe mian you would like to
[01:12:41] highlight what as a CFO that point of
[01:12:44] time we did no uh thanks uh during the
[01:12:49] covid time I don't know if it's like a
[01:12:50] clearly in line with our um purpose
[01:12:55] so we have just I don't know firstly
[01:12:58] what medicines are required like it I
[01:13:00] think sputnik
[01:13:02] so we have just I don't know enter into
[01:13:04] the contract and then we tried and then
[01:13:07] we have also brought to the India apart
[01:13:10] from this and really whatever is
[01:13:11] required I don't know we have tied up
[01:13:13] with many of the social organizations I
[01:13:16] know we have deep has played a
[01:13:18] significant uh role providing like you
[01:13:22] know food to wherever is required in
[01:13:24] food and the transportations even know
[01:13:27] even for some of the government
[01:13:29] organizations also whatever is required.
[01:13:32] So we have done enough both in at
[01:13:35] country level as well as in Hyderabad.
[01:13:38] So lot of activities happen despite uh
[01:13:42] there are several challenges always is
[01:13:44] how to reach many people thereby we can
[01:13:49] save the lives of people that's what I
[01:13:52] think we did I think uh um it was
[01:13:55] appreciated by many of the
[01:13:59] maybe some thoughts on operationally for
[01:14:01] example let's take the example of Tata
[01:14:03] so when you working for Tata finance uh
[01:14:07] finance store for Tata communications I
[01:14:08] think now in farmer uh for example let's
[01:14:12] take two different industries totally at
[01:14:14] two different industries what's how does
[01:14:16] it look like uh you know is that
[01:14:19] probably I would say here I think that
[01:14:21] you know the sales cycle life is too
[01:14:23] large when you compare any retail quick
[01:14:26] commerce etc any thoughts are on that I
[01:14:29] think uh the role of finance also
[01:14:32] depends on which industry we are working
[01:14:34] on okay um the what role I do in farming
[01:14:38] industry will be very different from a
[01:14:40] communication industry versus a car
[01:14:42] manufacturing industry. At the end of
[01:14:45] the day, we have to see that uh two
[01:14:47] three things very fundamental which is
[01:14:50] uh are we managing risk of the company
[01:14:52] well? Okay. Are we allocating capital uh
[01:14:55] in a right way? Third is uh are we
[01:14:58] eliminating cost? Fourth is are we
[01:15:00] enabling business to grow profits. I
[01:15:03] think these are four or five fundamental
[01:15:05] things which will be common across and
[01:15:07] now it's going to be same right and now
[01:15:10] the fifth thing which is now should be
[01:15:12] on top of all the list is um techsavvy
[01:15:16] how can finance become more techsavvy
[01:15:18] bring more data analytics more bring
[01:15:20] more AI in the way of functioning right
[01:15:23] u uh which which can help drive and help
[01:15:26] grow business I think these are the
[01:15:28] common things and based on the industry
[01:15:32] there'll be many other things we'll have
[01:15:33] to do. Understood. Emir see I just want
[01:15:36] to uh add here
[01:15:42] one is I don't know for any of the
[01:15:44] businesses be it pharma non-farma always
[01:15:47] I think there will be challenges
[01:15:50] and you can improve the
[01:15:54] current performance by compromising on
[01:15:56] the future.
[01:15:57] Okay. But that is not right for any of
[01:16:00] the organizations.
[01:16:03] A
[01:16:06] whoever it is be it a CFO or a CEO or
[01:16:10] know suppose a top management who
[01:16:13] balances
[01:16:15] very well between the short and
[01:16:17] long-term goals.
[01:16:19] So clearly that is the driving
[01:16:22] principle.
[01:16:23] So, so for example, if you want to
[01:16:26] improve the current performance, it's
[01:16:29] very easy if you cut the like R&D
[01:16:32] then straight away you can improve the
[01:16:34] performance, right? But naturally, it's
[01:16:36] like you will have a issue in the future
[01:16:38] growth. Absolutely. Future growth. So
[01:16:40] that's where I think when you say that
[01:16:42] suppose how we maintain first we have to
[01:16:45] balance both short-term versus uh
[01:16:48] long-term uh growth. But clearly here
[01:16:52] also we have to look at within the
[01:16:55] whatever money or whatever expenses
[01:16:58] whatever you call it opex we are
[01:17:02] having you can get a best leverage right
[01:17:06] by optimizing without compromising on
[01:17:09] the long-term growth and then those
[01:17:11] stories will sustain for a long time
[01:17:13] absolutely correct
[01:17:15] so Emit if you look at the Indian
[01:17:19] pharmace industry landscape
[01:17:21] It is expected to grow roughly around
[01:17:23] 100 plus billion by 2030 in next couple
[01:17:26] of years.
[01:17:29] What's your take on how this industry
[01:17:32] should be? Are we ready to have that
[01:17:35] number or like are we in the correct
[01:17:37] direction from a pharmaceutical
[01:17:38] perspective?
[01:17:40] So you're talking about India or
[01:17:42] globally? India. India. India. So in
[01:17:44] India we are expected to reach 100 plus
[01:17:47] 100 100 billion market size in by 2030.
[01:17:51] So from Dr. Edo maybe in the general
[01:17:54] landscape what is your thought what
[01:17:56] should be the approach? So this is a
[01:17:59] like a always suppose is like a today in
[01:18:02] the India market we have seen earlier
[01:18:05] high single digit or like a close to
[01:18:07] even double digit growth and today it's
[01:18:09] like somewhere uh the India pharma
[01:18:12] market is growing around I think six to
[01:18:15] 7%. Right that's what is happening but
[01:18:18] if I have to speak I don't know for
[01:18:21] Dr.'s this point of view we are being I
[01:18:25] think confident I don't know suppose
[01:18:26] India market for Dr. Radies will have a
[01:18:29] double digit growth how despite the
[01:18:32] market is at like a close to 6 to 7%. So
[01:18:37] clearly is one area innovation I know we
[01:18:40] are working how we can bring the
[01:18:43] differentiated uh brands into the market
[01:18:48] thereby it aligns to our purpose
[01:18:52] we can provide I know suppose uh
[01:18:55] affordable medicines to the patients so
[01:18:58] that's where I think it can cure the
[01:19:00] diseases it will help the patients so
[01:19:02] that is a so as a company we are working
[01:19:05] for we are working on the innovation.
[01:19:09] Second is also wherever I think we are
[01:19:11] doing lot of uh global tie apps with
[01:19:15] multi MNC's
[01:19:18] right so we we don't have the portfolio
[01:19:21] we are now trying to get that portfolio
[01:19:23] so so that we can build that that also
[01:19:26] can give the differentiated uh growth
[01:19:30] and the third is like what uh Amit said
[01:19:33] I think clearly we are working on the
[01:19:35] various digital initiatives And today
[01:19:39] any business
[01:19:41] be it in the pharma or non-farma without
[01:19:44] using the available digital uh tools I
[01:19:48] don't think I don't know we can expand
[01:19:50] the businesses. So whatever is available
[01:19:53] and today in Dr. reduce also like as a
[01:19:56] finance as a part of the finance
[01:19:58] transformation we are building lot of
[01:20:02] dashboards I don't know for each of the
[01:20:03] business right thereby it can give like
[01:20:06] a uh right data in the right time
[01:20:10] without any much efforts right thereby
[01:20:13] like all the business teams and can
[01:20:15] drive the performance absolutely so my
[01:20:18] view like a India business I don't know
[01:20:20] if India pharma it will continue to have
[01:20:23] a growth
[01:20:24] Okay. Uh is it because of the cost
[01:20:27] advantage here or like what do you
[01:20:28] think? Certainly there's a suppose what
[01:20:30] the way in which I think we do the
[01:20:32] manufacturing the way in which we
[01:20:34] develop the molecules I think there's a
[01:20:36] clearly cost advantage at the same time
[01:20:38] I don't know population also has been
[01:20:40] increasing right so suppose if you look
[01:20:42] at as we know now today is like a 140
[01:20:45] crores or something right but it's like
[01:20:47] a population is growing then this is are
[01:20:49] growing and then certainly there is a
[01:20:53] value for you think farmer is an
[01:20:55] evergreen business for any newcomers if
[01:20:57] they want to put up startup in
[01:20:59] healthcare what's your advice as a CFO
[01:21:03] it is it is always certain there could
[01:21:05] be an opportunities will be there we
[01:21:07] have to see where I think today pharma
[01:21:10] has become a very competitive market I
[01:21:12] think it's not like a one company we
[01:21:15] will have a entire market is not like we
[01:21:19] are like in the competitive world and
[01:21:21] for any molecule I think you will have a
[01:21:24] competition but only the how you can
[01:21:28] differentiate how you can bring like
[01:21:31] suppose always g prasad says how you can
[01:21:35] bring the first to market that is the
[01:21:38] crux if you have if you want to have a
[01:21:39] success in the market how many molecules
[01:21:45] you are launching in the first market
[01:21:50] so once you have I think those successes
[01:21:53] then you can build a brand you can have
[01:21:56] a equity with all the doctors then once
[01:22:00] you have a these two parameters
[01:22:03] obviously then that brand can sustain
[01:22:07] for a long time then you'll have a
[01:22:08] continuous growth right right so today
[01:22:12] suppose in our portfolio if you see many
[01:22:14] of the brands we launched even two
[01:22:17] decades prior to two decades but today
[01:22:20] those brands are still continue to have
[01:22:23] a premium prices and then I know still
[01:22:26] lot of equity with HCPs and so still we
[01:22:31] are having a great
[01:22:33] um business from those brands. Correct.
[01:22:38] Awesome. Amit I have a question for you.
[01:22:40] Uh you since you're from API I I heard
[01:22:44] that you're a very fearless execution
[01:22:46] guy. Okay. Now API is a very volatile I
[01:22:50] think you know it's a very cost
[01:22:52] competitive market. uh you know where
[01:22:55] cost erosions just happen overnight. I
[01:22:57] mean it's very competitive market that's
[01:22:58] what I mean to say so as a finance pers
[01:23:00] from a finance perspective uh you know
[01:23:03] what's your take on that you know for
[01:23:05] example in API market I think India
[01:23:07] stands to be uh the major uh API
[01:23:10] exporter accounting to I think roughly
[01:23:12] 8% in the API global market okay what
[01:23:17] from a doctor's perspective what is your
[01:23:19] vision uh for API market here uh from
[01:23:22] the API perspective I think cost is very
[01:23:25] important no doubt about it but customer
[01:23:27] don't just look at cost there are times
[01:23:30] where customer also values the part the
[01:23:33] suppliers like Dr. already is a supplier
[01:23:35] for APIs. Um the quality of the product,
[01:23:39] the timeline deliverable timelines,
[01:23:42] uh new product pipelines because when
[01:23:45] you engage with any customer for a
[01:23:46] long-term relation, uh it's not only
[01:23:49] about one one product supplier or a
[01:23:51] short-term supply. We we we always try
[01:23:53] to engage for a longerterm uh relation
[01:23:56] and that comes with lot of things.
[01:23:58] timely supplies uh pipeline we have to
[01:24:02] keep on building up our pipeline so that
[01:24:04] new products can be uh introduced in
[01:24:07] their portfolio. So uh it's a it's a
[01:24:10] difficult journey. There is huge
[01:24:12] competition around but uh we have to
[01:24:15] constantly work on the cost because
[01:24:16] that's uh that's something which hits
[01:24:18] directly to the bottom line of the
[01:24:20] company. uh at the same time we also
[01:24:23] have a new way of working right now is
[01:24:26] we go to the partner we go to the
[01:24:28] customer and say that tell us your
[01:24:29] problem and we'll solve for it uh
[01:24:33] whether it's API whether it's your
[01:24:35] manufacturing or formulation if some
[01:24:38] customer says that you know I have a
[01:24:39] short of capacity in my formulation we
[01:24:41] say don't worry we'll do a N minus one
[01:24:45] of formulation in our plant because we
[01:24:47] are not just an API company we are a
[01:24:49] end-to-end pharma company where we
[01:24:51] formulations manufacturing also. So we
[01:24:53] go to customer and try to solve their
[01:24:55] problem and that's where we come where
[01:24:57] where we can become a privileged
[01:24:58] customer suppliers for them. So there
[01:25:01] has been times where we have different
[01:25:04] models for different customers and the
[01:25:06] whole idea is to solve the problem of
[01:25:08] the customer. Understood. And then I
[01:25:11] think that's how we are now trying so I
[01:25:13] think that's how you are trying to
[01:25:14] position yourself differently.
[01:25:15] Absolutely. Absolutely. Okay. And we
[01:25:17] have a edge around this because we are
[01:25:19] an integrated company and uh customer
[01:25:23] and patients are our uh number one
[01:25:26] priority. Right. Amit uh I heard that
[01:25:30] you are a very uh serious execution guy.
[01:25:33] So in in that terms how do you manage
[01:25:35] collaboration across because for you
[01:25:37] numbers are important end of the day.
[01:25:38] Okay. So on a lighter note I'm a serious
[01:25:40] exeutor because of thanks to MBA.
[01:25:45] Okay.
[01:25:46] No, I think uh as a collaboration uh
[01:25:50] it's a journey you know 10 years ago
[01:25:52] Amit Parak was very different than now
[01:25:54] and maybe probably after 10 years I'll
[01:25:55] be very different uh but uh to uh at the
[01:26:00] end of the day you can't behave like a
[01:26:02] finance person. You have to be the other
[01:26:04] person should have trust on you. You
[01:26:06] should be partner to them and that's
[01:26:08] where the collaborations helps and um
[01:26:11] the best way of doing it is to
[01:26:13] understand the problem. Absolutely. and
[01:26:15] do whatever is right for the
[01:26:17] organization. The approach which I take
[01:26:19] is whatever is right for the
[01:26:20] organization, let's do for it. If it
[01:26:22] means that I have to deviate in some of
[01:26:23] my policies or some of my SOPs, I
[01:26:26] sometimes go and fight with MBA. He's a
[01:26:28] global CFO. I have to sometimes go and
[01:26:30] fight with him that you know financially
[01:26:32] it is not making sense but strategically
[01:26:34] it is making sense. Let's go for it. So
[01:26:37] that's how we have to do it and without
[01:26:40] collaboration you can't be working in
[01:26:42] silos. Gone are the days where you work
[01:26:44] in silos and directively do this do that
[01:26:47] no you have to be partner you have to
[01:26:50] win trust of others uh give solutions to
[01:26:54] others you can't be just asking
[01:26:56] questions um if you really want to be
[01:26:58] successful finance person excellent uh
[01:27:00] you should be a solution provider as
[01:27:02] well absolutely I think that supports
[01:27:03] the point you should be an enabler
[01:27:05] basically absolutely as a business
[01:27:06] partner excellent at as a CFO okay I
[01:27:10] think maybe not talk is any general
[01:27:13] farmer company if you take it I think we
[01:27:16] have three or four wings one is could be
[01:27:18] R&D manufacturer uh you have regulatory
[01:27:22] and uh you have sales and marketing okay
[01:27:25] now as your point the collaboration
[01:27:27] among these four departments four has to
[01:27:30] work seamlessly like a butter otherwise
[01:27:34] meaning basically from a CFO perspect
[01:27:37] perspective how do you drive that uh is
[01:27:40] it like uh because every unit has their
[01:27:43] own heads. I understand that. But end of
[01:27:45] the day below you you have execution
[01:27:47] guys. Okay. So you have a different
[01:27:50] vertical altogether. But horizontally if
[01:27:52] you want to bring things together
[01:27:54] because end of the day GV Prasad doesn't
[01:27:57] care whether I'm from here or your end
[01:28:00] of the day the output is important. So
[01:28:03] how do you drive this from a finance
[01:28:04] person because finance is a most
[01:28:07] critical thing among for this four uh
[01:28:09] verticals I would say.
[01:28:12] So first this comes from the company
[01:28:15] uh priorities. Okay. It is first as we
[01:28:18] have to fix for let us say on the
[01:28:22] company level targets. Okay. So at the
[01:28:25] same time like a company for example
[01:28:28] when we when uh or myself we go to the
[01:28:33] investor meetings. So as a company we
[01:28:37] don't give any financial guidance but at
[01:28:39] the same time we talk about know three
[01:28:42] primary
[01:28:44] uh goals on which the company's working
[01:28:47] one is
[01:28:49] our sales we have a double digit goa
[01:28:54] 25% of the sales are above and similarly
[01:28:58] also 25%.
[01:29:00] So these three goals we talk and then
[01:29:03] whatever we do first this is like a
[01:29:06] clear goals at a company level
[01:29:09] it's like at CEO CFO at the management
[01:29:12] council level this is the top priorities
[01:29:16] for the organization then whatever below
[01:29:19] we do be it at uh B level
[01:29:24] MC level or below MC minus one level or
[01:29:28] even at like a still uh operating level.
[01:29:32] These three are the priorities. Whatever
[01:29:35] actions, whatever we do any of the
[01:29:38] suppose like uh capital decisions,
[01:29:42] investment I know suppose we are like
[01:29:45] doing or be it in R&D decisions what
[01:29:49] implications once you take these
[01:29:51] decisions what will happen to your top
[01:29:54] goals? Okay. So that means whatever we
[01:29:58] do, whatever decisions we take always we
[01:30:01] have to model it whether it will have a
[01:30:04] short-term implications or whether it
[01:30:05] will have a long-term implications then
[01:30:08] if so what are you you have a mitigating
[01:30:12] controls okay so that's how we have to
[01:30:17] see I think that's where and once you
[01:30:20] decide the company all at a BU level or
[01:30:23] at individual level should cascade the
[01:30:26] same goals then all of us we are working
[01:30:29] for the same goal absolutely otherwise
[01:30:32] if there is at a view level also if you
[01:30:33] have a different priorities are not
[01:30:35] aligned to the company that's where I
[01:30:37] think lot of um difference of views or a
[01:30:42] difference of um lot can have a many
[01:30:46] challenges so once you link to the
[01:30:48] priorities of the BUS and individuals to
[01:30:50] the company goals then know everyone
[01:30:53] works for that and then it can work very
[01:30:56] uh seamlessly.
[01:30:58] So I have a question to MVN. Um you
[01:31:02] touched upon the structure of the
[01:31:03] company CEO CFO. Now
[01:31:07] how do you for a CFO and CEO CFO and CEO
[01:31:11] has to work very closely? Um
[01:31:15] and you have worked with various CEOs in
[01:31:17] the organization in last 25 years.
[01:31:20] What do you feel is the key for that
[01:31:22] relation to nurture well and have a
[01:31:25] trust building there? what CFO and CEO
[01:31:28] relation should be like and when it
[01:31:30] comes to the execution of the vision and
[01:31:32] the mission of the company how do you
[01:31:34] bifurcate what role will be played by
[01:31:36] CEO and what role will be played by CFO
[01:31:39] is there an overlap happens sometimes
[01:31:41] does there an overlap happens and if not
[01:31:44] then how do you make sure it happen
[01:31:46] great question once again
[01:31:49] firstly it's like a what a CEO CFO does
[01:31:54] it is a complimentary
[01:31:56] So whatever actions I think whatever we
[01:31:58] do that and like let's take as in
[01:32:00] whatever is uh uh array as a CEO myself
[01:32:06] as a CFO
[01:32:08] we never had
[01:32:10] any big
[01:32:12] uh conflict of views however sometimes
[01:32:15] it's possible it's in the decision
[01:32:18] making I don't know maybe what CEO
[01:32:20] thinks what CFO thinks then we have to
[01:32:25] explain in the way in which I think
[01:32:27] suppose convincing look if you take this
[01:32:30] decision this is what is the problem if
[01:32:32] the same decision if you implement I
[01:32:34] think this way then we'll not have any
[01:32:36] issues so it's a many times I both what
[01:32:40] co says and CFOs has to agree what
[01:32:43] sometimes if CFOs also if you have any
[01:32:45] difference of view you have to talk to C
[01:32:47] but if both of
[01:32:50] both of them if they don't go don't
[01:32:54] align then definitely I think it will
[01:32:56] have a significant challenges for
[01:32:59] driving the company's growth. So my view
[01:33:01] it's like a complimentary whatever
[01:33:04] actions them both of them takes and at
[01:33:06] least fortunately I work with I don't
[01:33:09] know many CEOs I know suppose earlier
[01:33:12] before it is I worked with Abjit
[01:33:15] Mukharji I had a fantastic journey with
[01:33:19] him I have a excellent memories also
[01:33:22] fond of memories when I worked with him
[01:33:25] and today also I have a similar journey
[01:33:28] erase I know what I do And clearly
[01:33:32] I have been working with him very
[01:33:34] closely. Absolutely. And uh anytimes
[01:33:37] even in this journey there are sometimes
[01:33:39] I know difference of views and then
[01:33:41] difference of views just we express each
[01:33:44] other and then know never ever had any
[01:33:47] challenges where
[01:33:50] supposed is taking this I am not
[01:33:51] comfortable I never felt I don't in this
[01:33:54] but even if some situation comes
[01:33:58] once you have a strong relationships
[01:34:03] you have that mindset said any issue
[01:34:06] trust me you can solve it.
[01:34:10] That is the most important understanding
[01:34:13] each other
[01:34:15] uh then respecting
[01:34:17] each person's opinion that is the cracks
[01:34:20] to have a to drive the company's
[01:34:22] performance. The moment you get into the
[01:34:26] any of the issues then that will be a
[01:34:29] problem. So I mean I want to ask one
[01:34:31] question
[01:34:33] as a CFO you have multiple stakeholder
[01:34:37] management. One is internal external
[01:34:41] uh board
[01:34:43] even CEOs chairman's promoters
[01:34:48] in the midst of everything there'll be
[01:34:49] always a pressure of delivering profits.
[01:34:54] How have you how do you handle the um
[01:34:58] profit targets or profit aspirations
[01:35:01] and is there has been a case where it
[01:35:04] has been very difficult situation and
[01:35:07] you had to take certain calls around
[01:35:09] that if you can throw some light or
[01:35:11] examples around it.
[01:35:14] So this is my 25th year in Dr. ICS
[01:35:18] now as a CFO
[01:35:21] prior to this even when I was not a CFO
[01:35:24] I was like a almost this is my I moved
[01:35:27] from the businesses to the corporate at
[01:35:30] least in the year of 2014
[01:35:33] at least I know fully lost suppose let's
[01:35:36] say more than a decade what exactly is
[01:35:38] happening in the each quarter I'm fully
[01:35:41] right involved in almost
[01:35:44] why I'm so proud about the company
[01:35:48] we don't receive any calls either from
[01:35:51] Ji Prasad or Chhattis
[01:35:54] and then as a just for both of them even
[01:35:59] know what is the profit for this quarter
[01:36:00] whatever it is naturally here is like as
[01:36:03] a finance team as suppose for example
[01:36:05] now as an CFO it's not even I don't take
[01:36:09] the decisions my teams like you suppose
[01:36:11] for the PSI you take the decision
[01:36:13] similarly for other business also So the
[01:36:16] BU finance sets take the decision what
[01:36:18] is the uh right uh entries to be passed
[01:36:23] and then combination of out of that and
[01:36:26] whatever it comes the results that's
[01:36:28] where and then
[01:36:30] always suppose sometimes pressure will
[01:36:33] be there but we never compromise on our
[01:36:36] compliance governance if any of the you
[01:36:40] have to take any of the right of
[01:36:42] decisions or any but wherever there are
[01:36:45] Sometimes I don't know suppose we call
[01:36:47] it as a as you know that non-Rine
[01:36:50] transactions that's where is like a the
[01:36:53] center of excellence teams like a GFR
[01:36:56] teams will take the right decisions and
[01:36:58] accordingly you will move on so what I'm
[01:37:02] trying to say at least in Dr. is or any
[01:37:05] of the person we don't see that pressure
[01:37:08] and I always just jokingly everyone
[01:37:12] tells
[01:37:13] from morning to evening work you work
[01:37:16] for the office once you come home as
[01:37:19] long as you have a peaceful sleep
[01:37:21] without any baggage of what you have
[01:37:24] done from morning to evening then I feel
[01:37:27] like you know there is a company for
[01:37:29] that company a person should work I
[01:37:32] believe Dr. is like a such company and
[01:37:36] that's why I'm very proud and that's why
[01:37:38] I've been working for Dr.
[01:37:41] decades. I completely resonate with what
[01:37:44] he's saying. Uh and there has been
[01:37:46] instances where we have a non-rine
[01:37:49] transaction just for your clarity
[01:37:50] non-rine would mean that
[01:37:53] accounting evaluation has to be done and
[01:37:56] uh it's not a normal thing you know it's
[01:37:58] an exceptional transaction and it's not
[01:38:00] a very routine thing. Um and there are
[01:38:03] time where I had a discussion with MBN
[01:38:05] on few aspects but he would clearly say
[01:38:08] that we have a central team uh that same
[01:38:11] team under him said whatever that team
[01:38:13] decides is the final thing even I can't
[01:38:16] influence and that's the kind of
[01:38:18] compliance and um you the role we play
[01:38:22] in Dr. it is finance but I mean I though
[01:38:25] you touched on it that profit targets
[01:38:27] all this is whatever comes is comes but
[01:38:30] has lot of expectations from uh Dr.
[01:38:33] ities and uh there would be quarters
[01:38:37] where we would not have met the
[01:38:39] expectations of the street. So how do we
[01:38:42] handle that? I mean um do we try to uh
[01:38:47] you know I I'm not saying we try to
[01:38:48] manage any profits but uh it would be
[01:38:51] difficult for CFO and CEO to face the
[01:38:54] street and explain but how do you make
[01:38:56] sure that the trust of the street
[01:38:59] continues and uh if you can throw some
[01:39:02] light and some learnings for us.
[01:39:05] So some obviously in the part of the
[01:39:08] journey there will be some quarters you
[01:39:10] will have a lower profit as compared to
[01:39:12] the expectations and then whenever you
[01:39:15] are interacting with investors I know we
[01:39:17] have to say because of this quarter
[01:39:19] because one two reasons there's a uh our
[01:39:22] profits are lower as compared to the
[01:39:24] investors expectation. this is only
[01:39:27] temporary blip and then if you see in
[01:39:29] the future where we are working what are
[01:39:31] the growth stories are there what are
[01:39:33] the growth levers you have if you are
[01:39:34] able to explain I don't think I don't
[01:39:37] know suppose any of the investors is
[01:39:39] concerned about particular one quarter
[01:39:41] story so always I think we have to look
[01:39:44] at when we are talking to the investors
[01:39:46] when you are talking to the internally
[01:39:47] or externally you have to see how you
[01:39:50] have to narrate the story very well in
[01:39:52] line with whatever strategies you are
[01:39:54] taking So as long as you are able to
[01:39:57] narrate and then your strategy is
[01:39:59] working I don't see if any in the short
[01:40:01] term if you have any quarters I don't
[01:40:04] know lower profits or something should
[01:40:06] not be a cause of concern
[01:40:10] should not be a cause of concern so I
[01:40:13] know in the past uh there has been in
[01:40:15] quarters where we have taken huge write
[01:40:18] offs because of impairment and all was
[01:40:21] it difficult as a CFO to take a call on
[01:40:24] that thinking that how would you explain
[01:40:27] to the board how you would explain to
[01:40:29] the investors
[01:40:31] or is it uh there's a full backing of
[01:40:35] whatever is the right let us do that
[01:40:39] clearly you also know any of the
[01:40:41] decisions first you take the decision
[01:40:43] then you will come to me and say MBN
[01:40:45] look I this is what is happening so it's
[01:40:48] like whether we should not worry so much
[01:40:52] if really something we have to take
[01:40:53] Okay. Uh any of the right of decision,
[01:40:56] right of or impairments or any of the uh
[01:40:59] decisions
[01:41:01] we must take it. We must not know
[01:41:04] suppose uh ignore. That's where I know
[01:41:08] once you start I know suppose start
[01:41:10] following such type of practice it will
[01:41:13] never end. First as a culture we should
[01:41:16] not uh allow such type of practices.
[01:41:21] always what is right we have to take a
[01:41:23] right decisions and move on and then I
[01:41:25] see that will work for the company's
[01:41:29] long-term perspective and then know from
[01:41:31] the to in order to have a highest
[01:41:34] compliance and governance standards my
[01:41:36] view today as a Dr.
[01:41:39] Today in the investors community
[01:41:43] we have a biggest respect for our
[01:41:46] company. In the way which we do the
[01:41:48] compliance governance once you build the
[01:41:51] trust among the investors community then
[01:41:55] that goes very long rather than if you
[01:41:58] take any um shortcuts
[01:42:02] that will have a significant
[01:42:05] uh impact on the company's uh growth. I
[01:42:08] think that is very very critical for
[01:42:11] customers also. I think if someone wants
[01:42:13] to become business partner with Dr.
[01:42:15] ities uh having that you know uh 100%
[01:42:18] compliance it's very good for customers
[01:42:21] so that you know they give an order they
[01:42:23] can sleep in peace uh I think that's
[01:42:25] something also one of the yeah that's
[01:42:27] part of that I know suppose whenever you
[01:42:30] are talking about the customers and they
[01:42:31] look at today if you just see about five
[01:42:34] years back versus today ESG compliance
[01:42:37] is like one of the biggest area most of
[01:42:40] the companies are focusing and then
[01:42:42] today if you want to have any new
[01:42:45] business with any customer obviously
[01:42:47] first they will ask EG what are you
[01:42:49] doing right and whether five years back
[01:42:52] whether ESG is there not there today
[01:42:55] suppose whatever is like so that's where
[01:42:57] is like clearly they look at compliance
[01:43:00] and then this type of ESG everything is
[01:43:03] becoming very very important to grow the
[01:43:06] businesses right MN uh for example
[01:43:10] say next year there is a recession okay
[01:43:13] so as a CFO So what's your action plan
[01:43:15] you know maybe to save the company to
[01:43:18] save the workforce uh you know obviously
[01:43:20] no company wants layoffs okay what's
[01:43:23] your take on this
[01:43:26] so always we have to predict well in
[01:43:28] advance okay so it's like something it's
[01:43:31] it happens it's bound to happen I don't
[01:43:33] know few of the countries it's like some
[01:43:36] lot today externally what geopolitical
[01:43:39] issues I think because of that I don't
[01:43:41] know there is a lot of cost can go up
[01:43:44] sometimes I think forex volatility also
[01:43:46] now because of the tariffs I know what
[01:43:48] we speak today a lot of exactly I know
[01:43:53] sometimes my view there could be even I
[01:43:55] don't know some business models also can
[01:43:57] change right is really I know suppose
[01:44:00] but that is a part in my view that's
[01:44:03] part of the journey so we have to see so
[01:44:06] whenever recession comes clearly what
[01:44:11] levers we have in our And those levers
[01:44:14] we have to work how to control what to
[01:44:17] do and then you have to work on those
[01:44:20] levers and then know that's where I
[01:44:22] think we have to in your journey have
[01:44:24] you ever taken a decision which you
[01:44:26] hated the most.
[01:44:29] So maybe let me take one now today in
[01:44:31] Dr. This also we have a
[01:44:35] uh lenomide is like a one of the product
[01:44:38] is contributing to the our growth and
[01:44:40] then next year is like a in January 2026
[01:44:45] the patent cliff is happening for the
[01:44:47] product and clearly we are aware what
[01:44:50] the product can
[01:44:52] uh create an impact to the organization.
[01:44:55] So we are just working on various
[01:44:57] levers. So one is like a clearly on the
[01:45:01] opex whatever we have how we can have a
[01:45:04] leverage be it in the staff cost in the
[01:45:07] other opex also now we have uh this
[01:45:11] principle already earlier is there but
[01:45:13] now we are focusing lot how your opex
[01:45:16] growth opex means here like a completely
[01:45:19] all the cost what I'm saying be it R&D
[01:45:22] cost or know your sales and marketing
[01:45:25] expenses entire pupil cost what you call
[01:45:28] and even a non- finance charges like a
[01:45:30] depreciation amortization all I'm
[01:45:32] putting as an opex how your opex growth
[01:45:38] have a 50% of sales growth okay suppose
[01:45:42] let us say sales is growing at let us
[01:45:43] say 15%.
[01:45:46] how your opex can be maximum 700%
[01:45:48] growth. Okay. Once you have this
[01:45:51] principle each of the business can work
[01:45:54] and then the company continue to even if
[01:45:57] there are certain recision then there is
[01:45:59] a geopolitical issues or any of the
[01:46:02] forex volatility any of the changes
[01:46:05] sometimes even I don't know suppose of
[01:46:07] because of external factors I don't know
[01:46:09] your procurement prices also can
[01:46:12] influence and cost can go up so wherever
[01:46:16] I think externally whatever is happening
[01:46:18] those are all not in your control,
[01:46:20] right? What you have control be it in
[01:46:24] OPEX or be it in the product cost and
[01:46:27] suppose wherever you see if in the sales
[01:46:29] also there is a potential opportunities
[01:46:32] are there how you can tap those
[01:46:34] opportunities. So we rather than suppose
[01:46:36] what the cost is going up instead of
[01:46:39] looking at what should I do what
[01:46:41] opportunities you have and those
[01:46:43] opportunities be worth and then these
[01:46:45] opportunities can mitigate those risks
[01:46:48] and then thereby you can continue to
[01:46:51] have a growth journey. Got it. I always
[01:46:56] feel we have to work on the
[01:46:58] opportunities. Okay. And firstly that
[01:47:01] those opportunities we have to see what
[01:47:03] we have in our hands right then once you
[01:47:07] complete this then what opportunities
[01:47:09] you have in the externally you have to
[01:47:10] take so that's where I think we have to
[01:47:13] see we have to look at all the
[01:47:14] opportunities and then we have to work
[01:47:16] it gotham I think that's also reflects
[01:47:19] the role of finance in the current
[01:47:22] scenario okay finance has to give a
[01:47:25] realtime reporting and also have to have
[01:47:28] a forwardlooking perspective because
[01:47:31] gone are the days where we do a
[01:47:33] postmortem reporting as a finance team.
[01:47:36] We as a Dr. Ed's finance team always
[01:47:40] keep on tap on what's happening ahead of
[01:47:43] us. So change is always a constant thing
[01:47:45] we all know but today as he gives couple
[01:47:48] of examples we know two years down the
[01:47:51] line what will be the company's
[01:47:52] situation what are the products coming
[01:47:53] in what are the patents going off what
[01:47:56] is the action we need to do today so
[01:47:58] that by the time we reach there uh we
[01:48:01] are we are still on the track and that
[01:48:04] happens when finance starts looking
[01:48:06] things on a forward way and that's where
[01:48:09] it's very important for finance in
[01:48:11] today's world has to have a
[01:48:12] forward-looking outlook Look financial
[01:48:15] modeling uh understanding of the
[01:48:17] business plays a very very critical
[01:48:19] part. Okay. Amit uh what about you? What
[01:48:22] is the toughest decision you have taken
[01:48:25] in terms of business uh finance? I think
[01:48:28] u
[01:48:30] uh you know when you are part of a
[01:48:31] business finance again role-wise it
[01:48:34] would be different but I can give one
[01:48:35] example of you know where you are part
[01:48:38] of the business as a CFO of the business
[01:48:42] and there is an impairment. Now you know
[01:48:44] this is a right thing to do from
[01:48:46] accounting standpoint but it will have a
[01:48:49] massive implication on the business and
[01:48:51] there is a chance that business will
[01:48:53] lose his scorecard bonus will get
[01:48:56] impacted. There has been time like this
[01:48:58] where uh but then at the end of the day
[01:49:01] we are the last man standing in the
[01:49:04] company and I go with that principle
[01:49:06] that finance is the last man standing in
[01:49:08] the organization come what may but uh
[01:49:12] the shareholders stakeholders everybody
[01:49:14] knows that there is a finance team there
[01:49:16] is a CFO in the company who will ensure
[01:49:18] that risk are been managed and
[01:49:20] compliance is up to the mark so we'll
[01:49:22] have to do whatever is right so I think
[01:49:25] those kind of critical things sometimes
[01:49:27] times becomes very difficult as an
[01:49:28] individual right and and I mean to you
[01:49:31] both what I've observed I'm a very young
[01:49:33] guy based on my experience what I have
[01:49:34] observed is every sales guy wants to
[01:49:37] reduce price so that he can sell easy
[01:49:40] rather taking much efforts okay in the
[01:49:42] market now if he wants to reduce the
[01:49:44] cost the sourcing cost has to be reduced
[01:49:47] finance will say no I cannot come beyond
[01:49:51] one number down because that doesn't uh
[01:49:53] apply to the strategy whatever xy
[01:49:56] So here how you bridging the gap uh for
[01:50:00] example are you biased towards the
[01:50:02] sourcing team or are you biased towards
[01:50:04] the uh sales team like how is that
[01:50:06] works? I I'll just touch on then maybe
[01:50:08] MBN can add more uh but first thing I
[01:50:12] want to correct here is uh there is
[01:50:14] nothing like sales team wants to reduce
[01:50:16] the prices because you have to believe
[01:50:19] that whoever comes in the company to
[01:50:21] work is doing their job properly. If
[01:50:24] they have come up with any proposal of
[01:50:26] reduction of the prices or any
[01:50:28] opportunity where it requires some
[01:50:30] adjustment,
[01:50:32] we have to respect that they are all
[01:50:34] qualified. They are in the company
[01:50:36] because they are capable. So we'll have
[01:50:38] to respect that and then find the
[01:50:39] solution and you know sometimes
[01:50:43] and everything is not about cost and
[01:50:45] price you know that's how the brand gets
[01:50:48] built up uh and business to business it
[01:50:50] will be different scenario but having
[01:50:52] said that I think if the reality is that
[01:50:55] if you don't reduce the prices and you
[01:50:57] lose the business then you'll have to
[01:50:59] work on the backward integration how do
[01:51:01] we improve on the cost how do we bring
[01:51:02] efficiency how do you structure the deal
[01:51:04] with the customer maybe you have to go
[01:51:07] and say that you increase the volume and
[01:51:09] I'll have a leverage in my sourcing. M
[01:51:11] so that's where we come into picture and
[01:51:14] structure the deal in a manner that you
[01:51:16] know because my volume will go up there
[01:51:18] will be efficiency in my sourcing and
[01:51:19] overall cost will come down and
[01:51:21] customers also understand that they are
[01:51:23] a partner so that's how I think we'll
[01:51:26] have to work maybe you want to add
[01:51:27] because see here he has been also a very
[01:51:29] solid business partner
[01:51:32] sale saleserson wants to reduce
[01:51:35] it is like a dynamic okay it is a
[01:51:38] dynamic it's not I don't think I don't
[01:51:41] know even if there is a X price is there
[01:51:44] I don't think any of our sales
[01:51:46] colleagues want to reduce this thing it
[01:51:49] is like a marketdriven prices that is
[01:51:51] the reality first I think we have to
[01:51:53] believe that absolutely if that is that
[01:51:55] is so then we also operate at know so
[01:51:59] much of guidelines suppose in Dr.
[01:52:02] Like what is a minimum throughput s we
[01:52:05] have to maintain right for any of the
[01:52:07] product decision then both saleserson is
[01:52:10] aware procurement person is aware we
[01:52:13] have a same goal it is not like the
[01:52:15] procurement different goal and then
[01:52:16] saleserson is different goal and finance
[01:52:19] all of us we know whatever we are
[01:52:21] inhouse we are producing we must have a
[01:52:24] so much of throughput or contribution
[01:52:27] and then all of us we have to work
[01:52:29] further and sometimes also we take
[01:52:31] exceptional calls. Okay. If you take
[01:52:33] exceptional calls whether it's like a
[01:52:35] temporary permanent then if it's a
[01:52:39] temporary then I don't know for next
[01:52:40] time when this product we are selling
[01:52:42] then what should we do and similarly it
[01:52:45] goes on I know suppose whether it's like
[01:52:47] a either you have to reduce a
[01:52:48] procurement prices or you have to
[01:52:50] improve like know suppose whatever is
[01:52:52] our manufacturing process like what we
[01:52:53] call it as a cap cost improvement
[01:52:56] programs like whatever we do how we can
[01:52:59] get the best yield right and earlier you
[01:53:02] are getting like X ill and today how you
[01:53:05] can get X plus thereby your cost can
[01:53:07] come down and whatever price you're
[01:53:09] losing in the market and thereby like
[01:53:11] you continue to have a same throughut or
[01:53:13] a little bit lower so it's all know it's
[01:53:16] like as a team I don't know all of us
[01:53:18] have to work it is not I don't know each
[01:53:21] person will not have a different goals
[01:53:23] or like they will not work understood if
[01:53:25] once we work I think any of the issues
[01:53:28] and the challenges can be managed
[01:53:30] understo And at the same time we have
[01:53:31] certain framework below which we don't
[01:53:33] want to operate which our uh sales and
[01:53:36] marketing team also knows. Okay. So it
[01:53:38] is a very there are times where we have
[01:53:40] dropped the products because it's not
[01:53:42] making sense. It's not only about top
[01:53:43] line, it's also about bottom line. Makes
[01:53:45] sense. So people understands in the
[01:53:47] organization and that's why you we need
[01:53:50] to communicate and uh you know uh
[01:53:53] explain and how what is our business
[01:53:56] model what is the way we are operating
[01:53:58] top line bottom line both are important
[01:54:01] but if those acknowledgement are there
[01:54:03] discussions are quite healthy there has
[01:54:05] been time where I've been part of
[01:54:06] decisions where we have dropped the
[01:54:08] product we have discontinued the product
[01:54:09] because it's not making sense we killed
[01:54:11] the products many times right Emian I
[01:54:13] have a question for you imagine you you
[01:54:15] become a CEO for one day what would you
[01:54:17] do
[01:54:19] I don't think any I have a different
[01:54:23] objective whatever my current co is been
[01:54:25] doing I will continue journey because if
[01:54:28] you see the after he became CEO like how
[01:54:31] the company has grown I will continue
[01:54:33] say my what he's driving I'll continue
[01:54:36] to drive the same what's your thought on
[01:54:39] from a good CFO versus the great CFO
[01:54:43] any thoughts around
[01:54:47] good CFO and a great CFO. A good CFO
[01:54:50] probably is 100% complent. He's
[01:54:52] fantastic in finance etc. So on uh he's
[01:54:56] reaching the targets etc. I don't think
[01:54:58] today if any CFO has to excel in any
[01:55:02] organization is not only on the focus on
[01:55:05] reporting. I don't think that person can
[01:55:07] excel. Okay. Today a CFO
[01:55:11] must have I think first focus on the
[01:55:14] compliance and governance and how
[01:55:18] effective I think is doing as know
[01:55:20] suppose enabling the uh businesses to
[01:55:25] have a right growth and clearly tapping
[01:55:29] the opportunities wherever there's a
[01:55:32] potentials are there and at the same
[01:55:34] time like how uh we have a controls on
[01:55:38] the cost There should not be any
[01:55:40] wastages always I can say how you can
[01:55:45] uh do more with less okay do more with
[01:55:48] less that should be the approach so
[01:55:51] that's why I don't think any
[01:55:53] differentiation like a good and great
[01:55:55] CFO is like a my view a CFO must have
[01:55:58] like a today allrounder experience and
[01:56:01] apart from this today is the digital is
[01:56:04] playing a significant role
[01:56:06] earlier right suppose whatever is if you
[01:56:08] are closing the books and today we are
[01:56:11] doing in our Dr. reduce finance
[01:56:13] transformation like a a big activities
[01:56:16] right very proud I think for doing that
[01:56:18] I'm sure whatever we have been doing I'm
[01:56:21] sure in the long term going forward
[01:56:24] these initiatives will help uh to drive
[01:56:29] the business growth
[01:56:31] company's growth mian for a finance guy
[01:56:35] IQ is very important okay if I may ask
[01:56:39] mian what is important to you IQ versus
[01:56:42] CQ
[01:56:44] both are required. Okay. It has to it's
[01:56:47] not like a one either this or that.
[01:56:50] Sometimes I don't know we required I
[01:56:52] don't know suppose very intelligent
[01:56:54] decisions dynamic decisions to be taken
[01:56:58] and
[01:57:01] [Music]
[01:57:02] it is like it's both are required. I
[01:57:04] cannot say like whether if you ask me
[01:57:06] like you have two eyes whether is left
[01:57:07] eye or right eye is required. I always
[01:57:10] say know both eyes are very important.
[01:57:12] Any situations you want to share where
[01:57:13] you have showed EQ
[01:57:17] many many times if it's like suppose
[01:57:19] whatever we do I don't know certainly
[01:57:22] where even I can tell you suppose in um
[01:57:27] [Music]
[01:57:29] one initiative I think when Dr. ities
[01:57:31] got into the three plants I think one in
[01:57:34] letters. Okay. So like we ran a program
[01:57:39] like a I call it as a uh project 360.
[01:57:43] Okay. So when I was like even not a CFO
[01:57:47] this was like somewhere 2017 18 and
[01:57:50] across the company where I don't know
[01:57:54] suppose do I know suppose all the
[01:57:56] operations answer is no and clearly
[01:58:00] prasad has asked us asked me now I don't
[01:58:03] know we have to see the what is the
[01:58:04] potential we have in the organization
[01:58:07] because now we have so much of this
[01:58:09] warning letter issues I think there's an
[01:58:11] impact of the new products we don't at
[01:58:14] the sales and then what should we do
[01:58:16] something and then we ran we have just
[01:58:19] implemented the program that time
[01:58:22] funitra also was just or now depict head
[01:58:25] join and really he helped you know
[01:58:28] significantly to this process so those
[01:58:31] times that's where we put our IQ clearly
[01:58:35] wherever I just identified I know be it
[01:58:38] in the manufacturing R&D in the
[01:58:40] marketing even within the finance and
[01:58:44] all the areas we have just came through
[01:58:46] and I think we have done I we have
[01:58:49] achieved you know significant results
[01:58:51] and I can say that very proud that time
[01:58:53] I think we played lot of IQ
[01:58:56] great great what about you Amit no I
[01:58:58] think uh nothing different both IQ and
[01:59:01] EQ is required there's nothing either or
[01:59:05] how do you understand I mean at a global
[01:59:09] co level
[01:59:11] first I don't get into the stress
[01:59:13] honestly I'm just telling you this is my
[01:59:15] greatest
[01:59:17] strength whatever it comes
[01:59:20] it's a many times it's easy to pass on
[01:59:22] to the like if it's like each of the
[01:59:25] business finance I don't do that I
[01:59:29] always think
[01:59:31] how I can help my team there can be
[01:59:34] success whatever pressure is there then
[01:59:37] I will stop with me awesome great I will
[01:59:40] stop with me but passing on is very easy
[01:59:43] then you will also pass on to the team
[01:59:45] it's then entire tree will it shakes the
[01:59:48] entire system excellent thought that is
[01:59:51] not the right approach always I don't
[01:59:53] know if there is something issue is
[01:59:54] there
[01:59:56] must think very deeply a person and then
[02:00:01] what should we do differently and then
[02:00:04] whatever thoughts you have you should
[02:00:06] deliberate with your team then you have
[02:00:10] to align with the
[02:00:12] Then once you align the team will
[02:00:14] support you and any of the suppose
[02:00:16] pressures whatever it is there and
[02:00:18] always you can beat of any of the
[02:00:21] quarterly profits or any other issues.
[02:00:23] to Saturn. Suppose sometimes Saturn we
[02:00:26] also discuss Saturn with the team
[02:00:28] attration is happening. What should we
[02:00:29] do? How should we do differently? So
[02:00:31] there is a collective decision has to be
[02:00:34] there then the stress can be eased out.
[02:00:38] Okay. But my strongly believe the stress
[02:00:41] should not be passed down. Great. That
[02:00:45] the stress should not be passed down.
[02:00:48] If you once start passing the stress I
[02:00:51] don't think is a he or she is a great
[02:00:54] leader. Awesome. Excellent. What about
[02:00:58] you? Like how do you I think um stress
[02:01:00] is again an individual thing. Uh
[02:01:04] pressure will always be there and uh
[02:01:07] it's how you handle the pressure. If
[02:01:09] you're not able to handle the pressure,
[02:01:10] the stress would be there. Um so
[02:01:14] and the best thing is to you know
[02:01:16] understand the situation and uh not to
[02:01:19] react. There are times when there's a
[02:01:22] tendency to react to a situation without
[02:01:24] understanding. So it creates a lot of
[02:01:26] panic situation and stress in I think
[02:01:29] it's always respond to a situation with
[02:01:31] ease and be mindful
[02:01:35] understand the problem. You you should
[02:01:38] know that every problem has a solution
[02:01:41] and break down the problems into smaller
[02:01:43] things. Don't try to think a problem as
[02:01:46] a very big thing. Break it down. Helps
[02:01:48] um you know solve for it. Discuss with
[02:01:51] others. If if there is no solution
[02:01:53] available within this uh within your
[02:01:55] team or your business, there are people
[02:01:57] around in the in the organization who
[02:02:00] can help us. I think um it's important
[02:02:03] to you know absolve things and I
[02:02:07] completely agree with MBN that there's
[02:02:09] we should not be passing on the stress
[02:02:11] and the pressure to our team or anybody
[02:02:12] else. We should otherwise we not a true
[02:02:15] leader. So that's it but I also want to
[02:02:18] add a person must have a uh continue to
[02:02:22] have the stress then you'll continue to
[02:02:24] generate the new ideas. Exactly. We
[02:02:26] should not be in the like a very comfort
[02:02:28] zone know coming going and then know
[02:02:31] suppose morning I came and evening I'm
[02:02:32] going I'm doing like a routine task then
[02:02:35] you will not have any joy absolutely
[02:02:38] true so when you when you work in such
[02:02:41] type of situations always you get new
[02:02:44] ideas and then know how you can add
[02:02:47] value to the businesses right if you ask
[02:02:50] me I like such situations
[02:02:55] I don't feel I never ever feel I don't
[02:02:57] know regret. Great.
[02:03:00] It is like like this I think simple rule
[02:03:04] what you do if you start enjoying
[02:03:07] is like it is not a matter how many
[02:03:10] hours you are working even sometimes if
[02:03:12] you work
[02:03:14] very
[02:03:15] uh long hours also as long as you enjoy
[02:03:19] then it you will never get into the
[02:03:21] stress. Awesome. Great. That's really
[02:03:23] great. Amazing.
[02:03:25] And also sometimes I don't want to say
[02:03:28] exact situations I
[02:03:31] you get lot of times I don't know
[02:03:33] external pressures
[02:03:36] but as long as I don't know suppose you
[02:03:38] feel like any of the investigations I'm
[02:03:40] saying with any authorities
[02:03:43] you if your conviction if your company
[02:03:45] is not doing any wrong things whoever
[02:03:49] puts that pressure you can withstand
[02:03:52] absolutely you can withstand for any any
[02:03:55] of the pleasures
[02:03:57] but that all goes by your conviction.
[02:04:02] True.
[02:04:04] Excellent. It's important to enjoy your
[02:04:06] work and uh sports is a classic example.
[02:04:10] You know there are teams who succumb to
[02:04:13] the pressure and don't win the game.
[02:04:16] There are teams who are under pressure
[02:04:18] and wins and even in the last over
[02:04:20] they'll be smiling and h you know
[02:04:22] cheering each other. I think it's
[02:04:24] important to enjoy and uh learn to live
[02:04:28] with the pressure and move on because
[02:04:30] life is not going to be simple black and
[02:04:32] white. I I think this is an excellent
[02:04:34] mindset MBM. I think this is uh this
[02:04:38] trait uh having to someone you know I
[02:04:41] think that will really really help them
[02:04:43] in a long run whoever wants to I mean I
[02:04:45] I think this is all about self
[02:04:46] leadership it's an excellent thought
[02:04:48] actually and we have to be very clear
[02:04:50] that life is not going to be simple this
[02:04:53] is personal life also it is not only
[02:04:56] personal as an office in the personal
[02:04:58] life goes very easy it's not the case in
[02:05:00] personal life also you will have a
[02:05:02] problem I don't know within the family
[02:05:04] outside with the rel so much I think
[02:05:05] this happens We have to take in the same
[02:05:08] uh way. In fact, I've heard in one of
[02:05:12] the leadership talk that if there are no
[02:05:14] problems in your life, it means you are
[02:05:16] not growing. Means you have not tried
[02:05:18] enough in your life because if you try
[02:05:20] different thing, if you take risk,
[02:05:22] you'll face some problems. Amazing.
[02:05:23] Excellent. So if you have no problem,
[02:05:25] then you should actually go back and
[02:05:26] reflect why I'm having not having a
[02:05:29] problem. That means I'm not fully
[02:05:31] utilizing my capability and potential.
[02:05:33] Absolutely amazing. Amazing. And I mean
[02:05:37] as a global CFO you have a very big team
[02:05:40] large team finance. Okay. Uh the culture
[02:05:44] of finance is kind of people say finance
[02:05:47] people are boring generally you know
[02:05:50] that's how it's only all excels it's all
[02:05:52] numbers it's all just crunching data
[02:05:54] analysis etc etc. How do you keep that
[02:05:57] high spirit in them? Okay. How do you
[02:05:59] keep them uh you know uh at very even
[02:06:03] highstake moments? How do you keep that
[02:06:05] motivation for them? Because I see Amit
[02:06:08] also working very late night you know
[02:06:10] 8:30 9 kunal it could be other members
[02:06:13] as well. So how do you keep that
[02:06:16] motivation in them? Whereas the rest of
[02:06:19] the officers left office. Did you just
[02:06:21] on the lighter side did you check with
[02:06:23] whether 8:39 you're working? Did you
[02:06:25] exhaust your energy or something any
[02:06:27] time?
[02:06:30] So it is not working up to
[02:06:35] uh 8:30 or 9 is
[02:06:39] goam is uh clearly
[02:06:42] each one of us is not at today is like a
[02:06:46] what I'm doing in excel is not a
[02:06:48] criteria okay it's a criteria is like at
[02:06:52] the end of the day how I'm enabling how
[02:06:57] I'm supporting
[02:06:59] how what value whatever work I'm doing
[02:07:03] what value I'm bringing to the table
[02:07:07] is it the same mindset resonance with
[02:07:09] every finance I don't think so I'm not
[02:07:11] saying like everyone will if everyone
[02:07:13] will have then somewhere I think that is
[02:07:15] a culture you have to okay got it you
[02:07:17] have to make sense uh drive understand
[02:07:22] people will continue to change and
[02:07:24] that's where I know whatever is
[02:07:26] happening we and uh uh develop that
[02:07:30] culture then you can move many people
[02:07:33] into the that bucket. Excellent.
[02:07:35] Excellent. I think the accountability
[02:07:37] and that but it's not easy you have to
[02:07:41] clearly suppose it's like I call it as a
[02:07:43] tone at the top. Okay. What you want to
[02:07:46] drive it comes from my you know suppose
[02:07:48] directly from the top management suppose
[02:07:52] Dr. You say what management council
[02:07:54] speaks then it
[02:07:58] cascade to the lowest level also that's
[02:08:01] where is the tone at the top is very
[02:08:03] important and then what we have said
[02:08:07] finance people today completely agree
[02:08:09] many times I think finance professionals
[02:08:11] I think within my team also puts lot of
[02:08:13] long hours that's whereas clearly we
[02:08:17] have been working whether it's like
[02:08:19] there is a sometimes success is there
[02:08:21] sometimes Still we have to solve issues.
[02:08:24] If I had to say that today we have
[02:08:27] created I think um as part of our
[02:08:29] finance transformation journey today we
[02:08:32] do for all the reviews lot of poweroint
[02:08:34] presentations and then lot of boards. So
[02:08:37] that's where we have now created a a
[02:08:40] dashboards. Okay. So now if you see like
[02:08:43] a definitely you will also see from uh
[02:08:46] any of the reviews going forward
[02:08:49] how we want to
[02:08:53] first if you ask me I want like even
[02:08:56] suppose I told my like Amit and all
[02:08:58] others from as part of the C4 reviews we
[02:09:01] should not use PowerPoint presentations
[02:09:03] okay how we can move from PowerPoint
[02:09:06] presentation to the dashboards review
[02:09:10] And clearly from the dashboards also we
[02:09:13] want to
[02:09:15] free certain carriers. So this is what
[02:09:18] is like we have to drive then we want to
[02:09:22] see the progress and here as in the same
[02:09:24] set of data if you have to get it
[02:09:27] normally like what you said finance
[02:09:29] people used to like do lot of Excel then
[02:09:33] powerpoint presentations and then so
[02:09:35] much of consolidation so many used to
[02:09:37] happen. Now the way in which we have
[02:09:39] created the dashboards once we close the
[02:09:41] books then the dashboards updates
[02:09:45] automatically as part of that we have
[02:09:47] looked at lot of masters how to automate
[02:09:50] know there is a lot of like a we have
[02:09:53] taken uh decisions right suppose even as
[02:09:57] a CFO I said if any of the masters
[02:10:01] anyone is not maintained then let's not
[02:10:04] allow to create that masters if you
[02:10:07] don't create the master. Sometimes I
[02:10:09] know sales also may stop. But if once
[02:10:13] such type of decision happens then the
[02:10:16] same respective person individual
[02:10:18] whoever is responsible whichever is the
[02:10:21] function right then that same gap will
[02:10:25] never repeat. Understood. But if you are
[02:10:28] allowing such gaps continuously then
[02:10:31] know there's a lot of manual
[02:10:34] uh dependency then it's like a people
[02:10:37] dependency always if you want to get
[02:10:39] anything today if Amiti is not there
[02:10:41] that decision that work cannot happen
[02:10:44] right so that's where is like in today's
[02:10:46] world is like how you can automate any
[02:10:48] of your processes and get data is like a
[02:10:52] very powerful so that's been we have
[02:10:54] been working and I'm sure at least as a
[02:10:57] CFO we want to minimize the work for
[02:11:00] like all the PowerPoint presentations
[02:11:02] Excel and also our endure is clearly how
[02:11:06] you can reduce the long hours one day
[02:11:10] will say Amit I see at least he's not
[02:11:12] there after 8:30 or something
[02:11:15] I just want to clarify one thing it's
[02:11:16] like uh in finance though there is
[02:11:20] always a perception that we work long
[02:11:22] hours but uh you'll see one common thing
[02:11:26] that everybody Everybody is energized
[02:11:28] and that is because uh from the
[02:11:30] beginning to the to now also we saying
[02:11:33] we focus on enabling the business. So
[02:11:35] whatever task we are doing the end
[02:11:38] objective is to create value for the
[02:11:40] organization right and that uh brings
[02:11:43] lot of energy in the system. Secondly we
[02:11:46] also have as a part of leadership team
[02:11:48] finance leadership team uh try to
[02:11:51] eliminate what is not getting used. I
[02:11:54] mean some reports which we have created
[02:11:56] two years ago will not be used by anyone
[02:11:59] today. So we keep on reviewing to
[02:12:01] eliminate the redundance right to
[02:12:03] eliminate what is not needed try to
[02:12:05] bring in new things and in this journey
[02:12:08] also like dashboards finance
[02:12:09] transformation remember that though
[02:12:12] there is a lot of hard work and long has
[02:12:14] been put in but people are also having
[02:12:16] learning curve there we are also getting
[02:12:18] the exposure uh probably we'll be very
[02:12:22] few companies in India who is doing this
[02:12:24] kind of uh finance digital initiatives
[02:12:28] so we are very proud all of us we all
[02:12:31] know that we have worked very hard to
[02:12:32] bring to come to this stage but at the
[02:12:35] same time as an individual I have also
[02:12:37] got an exposure about it so it's a it's
[02:12:40] like you know when you realize all this
[02:12:41] then uh even you come to meet me at 9:00
[02:12:44] in the night my energy level will be
[02:12:46] same as
[02:12:48] good I mean just on a lighter note
[02:12:51] what's your looks of it even Amit as
[02:12:53] well to maintain the same energy levels
[02:12:55] till 9 p.m. or whatever that could be
[02:12:59] what kind of a diet people maintain I
[02:13:01] think that is very very critical to have
[02:13:03] that same energy level from morning to
[02:13:05] night uh and especially I'm sure fitness
[02:13:08] people must having something special I
[02:13:10] don't know but what is that what do you
[02:13:12] how do you manage it first of all in my
[02:13:14] case my that credit goes to sha okay
[02:13:17] it's not me whatever is required for me
[02:13:20] to have a energy she takes care of that
[02:13:23] okay that is first second is like What
[02:13:27] whatever pressures will continue to have
[02:13:29] today it is very must it's not like a
[02:13:33] choice a person I don't know should
[02:13:36] focus on I don't know suppose how to
[02:13:38] maintain a professional and personal
[02:13:40] life and
[02:13:43] must have whatever suppose person likes
[02:13:46] be it a sport or exercise or yoga a
[02:13:49] person must do something otherwise
[02:13:52] otherwise it's very difficult
[02:13:55] uh to balance as well. What's your
[02:13:57] favorite? My I love walking. Oh, okay.
[02:14:01] If as long as I'm in Hyderabad, I walk
[02:14:06] daily 7 km. Oh, awesome.
[02:14:10] So, I don't uh compromise on that. At
[02:14:14] least when I
[02:14:17] that time I will not have anything in my
[02:14:19] mind
[02:14:21] about I don't know what should I do all
[02:14:23] these things completely. You will not
[02:14:25] have like a CFO hat all these things.
[02:14:27] You are like a a ordinary person. So you
[02:14:31] just as chill with your friends talk I
[02:14:35] don't know whatever it is like a gossip
[02:14:36] whatever is happening be it in the
[02:14:38] movies be it in the politics be it in
[02:14:40] the your society be it in and at the
[02:14:42] sometimes I even if you have any
[02:14:44] challenges with your family then you
[02:14:46] must have I friends with whom you can
[02:14:48] talk very that's where I see I know
[02:14:51] relationships I maintains a significant
[02:14:53] role in any person's success right
[02:14:57] understood great that's so that's where
[02:14:59] suppose you must have some time for like
[02:15:01] know uh to build the energy. Awesome.
[02:15:05] Awesome. What about your
[02:15:08] I think very similar everybody uh one
[02:15:11] must have uh some time for himself. Mhm.
[02:15:14] Um we need to work on ourselves. I I do
[02:15:18] before coming to office
[02:15:21] there's not a single day where I don't
[02:15:23] do yoga. I'm heavily into yoga and
[02:15:26] meditation pranayams.
[02:15:28] uh there will be very rare days where I
[02:15:31] will want to even on Sundays I do
[02:15:33] because my day is not complete without
[02:15:34] that and that helps you know come to the
[02:15:38] clean up your mind have fresh thoughts
[02:15:40] excellent um come with lot of energy
[02:15:43] that helps you drive throughout the day
[02:15:45] and I have another practice that before
[02:15:47] I leave office I write little bit of a
[02:15:49] journaling okay there are some some two
[02:15:53] three questions I write for myself every
[02:15:55] day that you know what is a new thing
[02:15:57] I've learned today. Okay. What are the
[02:16:00] things I could have done differently?
[02:16:01] Oh, okay. Uh did I make any mistake
[02:16:04] during the day? If I had a chance to
[02:16:05] change something, did is there any event
[02:16:08] which happened? And I also try to write
[02:16:12] on gratitude you know. Excellent. So
[02:16:15] these are the few practices which I do
[02:16:17] which helps me you know even before
[02:16:19] leaving office I clear off my mind and
[02:16:22] see another one also I just want to add
[02:16:24] gautam here for any person
[02:16:28] family is a big asset absolutely family
[02:16:31] I can tell you one is like what you do
[02:16:34] and another side equal your family is
[02:16:37] like a big asset which any of the family
[02:16:41] member be kids all these things suppose
[02:16:44] in my case I have two kids daughter and
[02:16:46] son
[02:16:48] and today also we it's not like a today
[02:16:52] I'm a father I think they are like my
[02:16:54] kids I think then we have like a boss or
[02:16:57] something nothing we I don't know
[02:16:59] supposed pull each other okay suppose my
[02:17:01] son sometimes calls m like that also he
[02:17:04] calls really I enjoy suppose I don't
[02:17:06] know yesterday also I was texting no m
[02:17:09] like that I don't know he tells me that
[02:17:11] extent you have a a bonding. Okay. That
[02:17:16] with my daughter also she pulls me like
[02:17:18] that. I know you must have a very uh
[02:17:21] casual know approach with your at least
[02:17:24] I believe know that is the right
[02:17:26] approach and thereby whatever I think
[02:17:28] issues are there people know suppose
[02:17:30] within the family we can express very
[02:17:32] easily and then we can try to resolve.
[02:17:36] Absolutely. Otherwise I if you are like
[02:17:37] a I'm a father like my kids whatever it
[02:17:40] will in today's world I think that will
[02:17:42] not work. I that's where be it I know
[02:17:44] suppose with like my son-in-law now I
[02:17:48] newly and my daughter-in-law also always
[02:17:50] I believe I know we must have very
[02:17:52] casual relationships excellent and those
[02:17:55] relationships I don't know can take you
[02:17:59] very well and really suppose whatever
[02:18:02] like you ask IQ EQ whatever you name it
[02:18:04] anything you have like a great and other
[02:18:07] side if you have a family problems my
[02:18:09] view that IQ EQ will never work Okay.
[02:18:12] Okay. I think I completely agree because
[02:18:15] uh even in my case the family is the
[02:18:18] backbone. Okay. Lot 90% of the things
[02:18:21] are taken care by my wife my parents
[02:18:24] though my parents stays in Kolkata they
[02:18:27] frequently come here. My wife takes care
[02:18:29] of both my kids. Uh and it's important
[02:18:32] to balance and now the concept of work
[02:18:35] life balance is very different in
[02:18:36] today's world. It's not about 8 hours
[02:18:38] and 8 hours or 12 hours and 12 hours.
[02:18:41] It's about the quality of time you spend
[02:18:43] with the family. When you are with
[02:18:45] family should be 100% focused.
[02:18:48] Absolutely. It should not happen that
[02:18:50] there is a call going on or you're
[02:18:52] checking office mails and talking to
[02:18:53] your son. That's not I think great. And
[02:18:56] they also understand and appreciate that
[02:18:59] there is a very little window available
[02:19:01] but I'm 100% available. Excellent.
[02:19:03] Excellent. And on the weekend I make
[02:19:05] sure that I'm absolutely chilling out
[02:19:07] with my family. Excellent. Excellent. So
[02:19:09] even while I'm talking to you there is a
[02:19:11] ticket getting booked for the night.
[02:19:13] Okay. Awesome.
[02:19:15] Great. Great.
[02:19:17] On a lighter note how spiritual you are.
[02:19:20] See I am uh uh not too extreme. I'm very
[02:19:25] balanced like a god. I don't know
[02:19:28] suppose I
[02:19:30] uh
[02:19:33] I have a lot of belief on I don't know
[02:19:35] spirituality there's no doubt but I'm
[02:19:38] not like a too extreme guy okay so I
[02:19:41] visit like know all the temples and then
[02:19:45] that's where you can put me in the mid
[02:19:48] okay
[02:19:50] what about you I am a firm believer of
[02:19:53] god okay uh but again uh it's not like I
[02:19:56] visit temples
[02:19:57] too many temples. I I have a rituals of
[02:20:00] before I leave home every day I do puja.
[02:20:03] Okay. Okay. And I'm a jan so I follow
[02:20:06] jen practice. Oh awesome. So that way
[02:20:09] I'm spiritual but again not a very
[02:20:11] extreme case. In my house is
[02:20:15] my wife is like a you can see like a two
[02:20:18] spiritual I don't know she does lot of
[02:20:20] puja and everything. Okay. Okay. That's
[02:20:23] what I see. Okay. Great. and uh em just
[02:20:27] a thing I think this offsets got uh I
[02:20:30] don't know I they're not happening
[02:20:31] nowadays in doctor it is there any in
[02:20:34] future can we expect that culture to be
[02:20:37] back or like how is it no uh offset
[02:20:40] means what which one generally I think
[02:20:42] API to recently we stayed to go and all
[02:20:45] I think all those offsets got see it is
[02:20:48] not suppose stocking of the any of the
[02:20:52] offsite or whatever it
[02:20:54] always I don't know is continuously we
[02:20:57] can have a uh as a company we just I
[02:21:02] don't know we will not like this you
[02:21:04] should not do this you should not do
[02:21:06] it's really if there is something deep
[02:21:08] believes I think we have to do I suppose
[02:21:10] we can do whether it's a scale is like a
[02:21:13] matter that's where I see that noted
[02:21:16] it's in Deepak's head
[02:21:19] it's a podcast so we'll keep that aside
[02:21:24] Generally you have your internal team
[02:21:26] meetings and know like yeah let us say
[02:21:29] this year I don't know suppose given
[02:21:31] that like we had a GFM okay always if
[02:21:34] there is a uh will I think you can find
[02:21:38] the way GFM is global finance meet where
[02:21:40] we have global finance meet if there is
[02:21:42] a will then you can find the way this is
[02:21:43] earlier I think our jpal bazwa used to
[02:21:46] say this okay so like this year also we
[02:21:49] had I think school day at our leadership
[02:21:51] academy. Okay. Then in the evening we
[02:21:54] had a great fun at in our AM
[02:21:58] uh mark. So but expenses what we used to
[02:22:03] spend know definitely there is a huge
[02:22:06] savings but uh we are continuing know
[02:22:09] that momentum we have not know stopped.
[02:22:12] Okay. What fun means to you like how do
[02:22:14] you are you involved in some
[02:22:15] extracurricular activities like dancing,
[02:22:17] singing etc. Right. So if you ask me
[02:22:20] first is apart from I don't know our
[02:22:23] professional life I like the movies.
[02:22:25] Okay. going to theaters or sitting I
[02:22:28] don't know watching TV that's my
[02:22:31] preference that movie is also not like a
[02:22:34] very serious stuff okay like how you can
[02:22:36] have a fun I don't know where you can
[02:22:39] that is where I just see that
[02:22:42] third always is like I'm also but don't
[02:22:47] put me like I'm a professional dancer
[02:22:49] answer is no like be it in our GFMS or I
[02:22:52] don't know suppose whatever is like
[02:22:54] whatever I
[02:22:55] Okay. But I'm very being I'm very
[02:22:57] energetic. I can continue to dance in
[02:23:00] the floor maybe even at know more than
[02:23:03] two to awesome. I I think I should ask
[02:23:06] how does he dance? I think uh don't put
[02:23:09] me on a spot how does he done but I
[02:23:13] would say he would be the most energetic
[02:23:15] person on the floor and every year
[02:23:19] during our global finance meet uh we
[02:23:22] also have special performance by FSE
[02:23:24] FSE's finance steering committee where
[02:23:27] all the finance leaders are there MBN
[02:23:29] and his L minus 1's and he is the most
[02:23:34] uh you know uh excited person in that
[02:23:38] group. Okay. One week before the event,
[02:23:40] we start practicing and he will be the
[02:23:42] first person to call up when is the
[02:23:45] choreographer coming, what is the song,
[02:23:48] I want this song to be included. Why why
[02:23:51] are you not adding one more song? Why it
[02:23:52] is only 3 minutes? We should do 5
[02:23:54] minutes. I think u and that's one one
[02:23:57] area where he makes it mandatory for us,
[02:23:59] right? Uh sometimes we don't listen to
[02:24:01] him but in this area we have to listen
[02:24:02] to him. We all have to dance together.
[02:24:05] Awesome. Awesome. Great. So Mian I think
[02:24:09] you know you have a vast experience now.
[02:24:11] Okay. If you want to advise to the young
[02:24:15] entrepreneurs it could be or you know
[02:24:17] any business enthusiasts and you know
[02:24:20] anyone wants to open up a business it
[02:24:22] could be as simple as a very small
[02:24:25] business to a very large scale business
[02:24:28] industry as well. So from your wisdom
[02:24:30] from your experience from your CFO
[02:24:33] perspective what's your advice? So I
[02:24:37] gautam is here my view always I know
[02:24:40] suppose first we have to see what any
[02:24:42] entrepreneur
[02:24:44] uh want to start the new business so
[02:24:48] first we have to look at know what are
[02:24:49] the growth opportunities that's a
[02:24:52] clearly we have to look at and then how
[02:24:54] the competition know will be there and
[02:24:57] today I don't think any of the business
[02:25:00] without these things you cannot figure
[02:25:02] out how you can differenti sheet. Okay,
[02:25:06] that is like a how you can is like you
[02:25:09] can bring the customer value proposition
[02:25:13] differently.
[02:25:14] That is a crux. If suppose three of us
[02:25:17] we are doing the same business, how I
[02:25:21] can bring different value proportion to
[02:25:24] the customer. The moment the customer
[02:25:26] believes that know yes Mian is bringing
[02:25:29] something different as compared to other
[02:25:31] two then definitely you have a great
[02:25:35] potential that is the one second
[02:25:38] whatever actions we do
[02:25:41] we should have a clear plan I know how
[02:25:43] many years we have to burn the cash
[02:25:46] because initial years of course know
[02:25:48] it's not year one you cannot make a
[02:25:50] break even or something definitely you
[02:25:52] would have a business plan whether it's
[02:25:55] working or not and clearly
[02:25:58] is always I believe whatever we do cash
[02:26:01] is king cash is king
[02:26:05] even sometimes I don't know suppose is
[02:26:07] like decisions when we want to take
[02:26:10] whether should we give more weightage to
[02:26:12] the
[02:26:14] cash or should we give more weight to
[02:26:17] the accounting because whenever you're
[02:26:19] doing some structures always is like
[02:26:22] nowadays I think everyone Don't ask know
[02:26:24] suppose if I pay this I have to take
[02:26:27] immediately that expenses in the same
[02:26:30] current period then my profit will go up
[02:26:33] or similarly if suppose I'm doing any uh
[02:26:37] contracts with the customers if I just
[02:26:40] do like this my accounting profit will
[02:26:42] go up right I am a strong belief I have
[02:26:46] a strong believer that
[02:26:49] first is cash
[02:26:51] then accounting app has to follow.
[02:26:54] Second, it's not vice versa. Great. It
[02:26:57] has to be like whatever we do, how
[02:27:00] you're bringing the cash to the company,
[02:27:03] that should be the goal. So whenever I
[02:27:06] talk to the my team or like my fellow
[02:27:09] colleagues in the management council, I
[02:27:12] always talk in this language. But if
[02:27:15] there is a while doing so if there are
[02:27:18] any opportunities how first you can
[02:27:20] bring the cash how you can do the
[02:27:23] accounting if there is a permits
[02:27:25] accounting standard permits always if
[02:27:28] both achieves it's the best if if that
[02:27:31] is not possible I always put this as a
[02:27:34] cashes first awesome awesome so this I
[02:27:36] see that here I don't think I don't know
[02:27:38] clearly for any of the new entrepreneurs
[02:27:42] I don't know any of the new businesses
[02:27:44] Yes, must have a clear eye I eye for
[02:27:47] details. I for like what exactly is
[02:27:49] happening and whatever you have when you
[02:27:51] staged at the beginning of know suppose
[02:27:54] starting and really okay I will break
[02:27:57] even by so and so year sometimes it may
[02:28:01] not happen but as long as if that
[02:28:04] business is like if you see the
[02:28:05] direction it is growing and then you can
[02:28:08] continue to invest and then know you
[02:28:10] must see that other one day it has to
[02:28:12] start showing the positive results. So
[02:28:15] em uh uh I would like to ask you it's if
[02:28:19] there is any guidance to all the finance
[02:28:21] professionals
[02:28:23] uh if they want to add an additional
[02:28:25] skill which can really bring them a
[02:28:28] maximum impact in their careers maybe
[02:28:30] one from me and one from you I think
[02:28:32] that can two things whether it's for any
[02:28:35] finance professional irrespective of I
[02:28:38] think their degree two I don't know one
[02:28:42] is like a business partnering
[02:28:45] Second is like a a digital sell
[02:28:50] whatever you I completely agree with
[02:28:55] third is should be functional knowledge
[02:29:00] because uh whatever we do functional
[02:29:03] knowledge has to be up to the mark many
[02:29:05] times u u you know I'm a CA 20 years ago
[02:29:09] I have qualified that doesn't mean that
[02:29:12] I lose track of what's happening in high
[02:29:14] uh you know accounting standards or
[02:29:17] income tax I think functional knowledge
[02:29:18] has to be there and uh without that
[02:29:21] whatever additional we do doesn't matter
[02:29:24] so functional knowledge and two things
[02:29:26] about MBN is a must right so Mian and
[02:29:29] Amit I think to bring this to a closure
[02:29:32] what I have personally understand from
[02:29:34] this entire thing is uh over the
[02:29:37] experience of your journey or your
[02:29:38] jammed I think that power of belief I
[02:29:41] think right from your engage without
[02:29:43] knowing I think you both started
[02:29:45] practicing self leadership at a very you
[02:29:48] might not be aware that time okay uh it
[02:29:51] could be any field you have chosen it
[02:29:53] could be any task you have chosen
[02:29:54] whatever you have chosen you have that
[02:29:56] belief that yes I can do this and you
[02:30:00] did not probably I don't know like you
[02:30:02] people did not encrage that thought of
[02:30:05] self-doubt maybe earlier stages it's
[02:30:07] very natural for a woman being to uh you
[02:30:10] know some people all people are not from
[02:30:12] well below families or not everyone has
[02:30:14] that day to dream big. Okay. So some
[02:30:18] maybe certain humiliations you know
[02:30:20] maybe certain school environments right
[02:30:22] from childhood people tend to go through
[02:30:25] that uh kind of where you know I'm not
[02:30:27] that birth enough actually you know a
[02:30:30] lot of people lose their self-confidence
[02:30:32] during school right from there it starts
[02:30:35] okay but I think this to overcome uh you
[02:30:39] know taking that incremental uh steps
[02:30:41] towards building that self-confidence I
[02:30:44] think that's something it's a critical
[02:30:46] take away from this whether it is
[02:30:48] finance it could be any other industry I
[02:30:50] think today if you look at it I think
[02:30:52] you know you handling a $3 billion top
[02:30:55] line it's not a joke and sustaining that
[02:30:59] going down is a secondary case but
[02:31:01] sustaining that and uh aspiring to reach
[02:31:04] much of other heights it's a very very
[02:31:07] big step so I really really thank you
[02:31:10] both for spending time with me today I
[02:31:12] hope I did not snash you your weekend I
[02:31:16] Hope you also enjoyed this session
[02:31:17] equally. Thank you so much. Thanks a lot
[02:31:19] for making this episode a really special
[02:31:21] one. Thank you Goautam. I think uh first
[02:31:24] of all thanks for inviting us for this
[02:31:26] podcast. I think uh and also allowing um
[02:31:30] us to go back to our memories and
[02:31:32] reflecting back on what we've did and
[02:31:34] sharing our stories. U thank you and we
[02:31:37] really enjoyed the podcast. Thank you.
[02:31:40] Thank you Gautam. I think uh really I
[02:31:42] enjoyed this is a hope I think whatever
[02:31:45] our uh uh broadcast I know will help I
[02:31:49] think young generation. Thank you. And
[02:31:52] here the way in which you have
[02:31:53] summarized
[02:31:55] self-confidence
[02:31:56] and I I also suggest that followed once
[02:32:00] you have confidence the necessary
[02:32:03] efforts also a person has to put it
[02:32:05] right that's what I think just I can say
[02:32:07] that it's not as once you have
[02:32:08] confidence without efforts that nothing
[02:32:10] will happen right so if both are there I
[02:32:12] I'm sure anything as know anyone can
[02:32:14] crack definitely I think every progress
[02:32:17] needs actions yes exactly I think thank
[02:32:19] you we really enjoyed
[02:32:22] Thank you. Thank you.