MURUGAN. R
Deputy Chief Financial Officer
+91 9940315256 murugan_rm@rediffmail.com in LinkedIn
CORE COMPETENCIES
EDUCATION
? Pursuing: CPA - Certified Public Accountants from American Institute of Certified Public Accountants (AICPA), USA
? Pursuing: CS - Executive Program from Institute of Company Secretaries of India, Delhi
? 2022: MBA/PGDM – FM | Post Graduate Diploma in Business Management – Financial Management from SVKM’s NMIMS University.
? 1993: Bachelor of Commerce from University of Madras
SOFT SKILLS
Leveraging extensive financial expertise in managing the company's financial strategy, forecasting, budgeting, and risk management to ensure sustainable growth and profitability and to drive data-driven decision-making, enhance financial performance, and ensure compliance with regulatory standards.
PROFILE SUMMARY
? Seasoned Financial Leader offering over 3 decades of experience driving strategic and operational excellence across financial operations, reporting, taxation, and compliance in high-growth industries.
? Expert in Financial Strategy and decision-making, specializing in business modeling, costing, budgeting, variance analysis, and ROI-based investment planning for large-scale projects.
? Restored financial health of the company through the following initiatives:
o Took control of all receivables, payable and assets (tangible and intangible).
o Established working relationship with bankers, suppliers & workers; negotiated settlements & restructured financial liabilities with bankers, suppliers, statutory agencies.
o Developed and presented a revival business model to Financers, BIFR and Regulatory Agencies.
o Resolved pending legal, statutory, direct & indirect tax cases and ensured fresh start to operations; arranged finance facilities for re-commencement of business.
? Master of Taxation & Compliance, with deep expertise in Direct & Indirect Tax (GST, Income Tax, TDS/TCS), Transfer Pricing, and FEMA/RBI regulations, including handling audits, assessments, and appeals.
? Proven Track Record in Treasury & Funds Management, ensuring optimal liquidity and cost-effective capital structuring through external borrowings, equity inception, and working capital management.
? Directed financial analysis; internal and regulatory reporting; accounting operations; budgeting; forecasting that led to long-term improvements in cost savings, profitability and productivity.
? Governance & Risk Management Expertise, with a focus on internal control systems, risk management, and statutory compliance, leading to optimized processes and improved organizational efficiency.
? Exceptional Audit & Compliance Leadership, fostering cross-functional collaboration with internal and external auditors to enhance financial controls, reduce risks, and ensure timely statutory compliance.
? Hands-on Experience with Government Relations, having coordinated with multiple state and central authorities to secure fiscal incentives, MoU signings, and resolve complex taxation matters, handling bureaucrats & regulatory bodies.
? Hands-on Experience in handling Greenfield Mega & Ultra-mega Projects, including all the liasoning, registration & regulatory approvals, implementing accounting policies, financial IT systems, internal control systems & governances.
CERTIFICATIONS
Certificate Course on GST from Institute of Cost Accountant of India (ICAI-CMA), @ Chennai Chapter (SIRC of ICMAI) completed in Jul’2017
Completed Training on Indirect Taxation, by SIRC of ICWAI, Chennai
Completed training on International Transfer Pricing, by International Fiscal Association, Chennai
Completed training on ACCA - DipIFR, by Grand Thornton, Bangalore (IFRS Training form Jan-Mar’2019)
Advanced Certificate Course on Income Tax Assessments & Appeal Process from Institute of Cost Accountants of India (ICAI-CMA), completed in Aug’2023
TECHNICAL SKILLS
? SAP-FICO, Oracle 11i, MFG Pro, Tally ERP, MS Office (Excel, Word, PPT)
CAREER TIMELINE (Recent 4)
WORK EXPERIENCE
Salcomp Technology India Pvt. Ltd., Sriperumbudur, Tamil Nadu Aug’24 – Dec’24
Deputy Chief Financial Officer
Key Result Areas:
? Led routine finance, accounting, taxation, and audit functions to align with the strategic and operational objectives of the India Business, ensuring efficient resource allocation and enhanced business performance.
? Delivered actionable insights by improving financial reporting systems, refining budgetary planning processes, and establishing robust financial controls to support informed decision-making and strategic initiatives.
? Conducted detailed monthly P&L simulations for each Business Unit (BU), leveraging actual and forecast data to provide forward-looking insights, driving profitability, and identifying risk areas across each BU-wise plant for performance enhancement.
? Prepared and managed Capex budgets aligned with business plans, conducted capital investment analysis, and evaluated ROI to ensure optimal asset utilization and strategic growth.
? Oversaw the management of cash flow and working capital in line with the business plan, ensuring liquidity was optimized, and operational needs were met while mitigating financial risks.
? Prepared and updated rolling forecasts for subsequent quarters, provided timely updates to budget data, and performed periodic variance analysis to assess performance against budget, driving corrective actions and strategic adjustments.
BYD India Pvt. Ltd., Oragadam, Tamil Nadu May’20 – Aug’24
Head – Finance & Accounts (HoD)
Key Result Areas:
? Led the overall finance, accounting, taxation, treasury, audits, and budgeting functions to successfully achieve the strategic and operational goals of the India Business, ensuring financial alignment with business priorities and operational excellence.
? Delivered strategic direction and oversight in financial reporting, budgetary planning, and audit reviews, driving process improvement initiatives and enhancing financial controls to ensure accurate and timely financial operations.
? Identified key financial matters and provided actionable solutions to executive-level management, empowering informed business decisions and improving financial strategies that aligned with organizational goals.
? Developed and managed internal financial reviews with country offices, implementing corrective action plans to address performance gaps and drive financial discipline, improving overall financial health across business units.
? Supported cost optimization initiatives, risk management, and financial KPI delivery, creating value-add models and offering data-driven recommendations to improve profitability and operational performance.
? Coordinated resolution of old income tax appeal cases from AY 2010-11 onwards with CIT(A) and ITAT, working closely with tax consultants (Big 4) and legal counsel to ensure favorable outcomes.
? Oversee Tax compliance both direct & indirect tax, tax planning for new business model, handle tax litigation, etc
Highlights:
? Led the end-to-end process for signing MoUs with the Government of Tamil Nadu.
? Managed all statutory registrations with various authorities and implemented Tamil Nadu's fiscal incentives.
? Executed GOI-MeitY schemes such as Production Linked Incentives (PLI) and Capital Subsidy.
? Successfully resolved ITAT appeal cases and settled income disputes under VSV.
? Handled the visa approval process for Chinese expatriates with MeitY, MEA, MHA, and FRRO.
? Handled all legal disputes and representing before various judicial authority, courts, regulatory bodies like RBI/ED/IT/PCB
KIA Motors India Pvt. Ltd., Anantapur, AP Sep’18 – Apr’20
Asst. General Manager – General Accounting (Accounts, Taxation & Treasury)
Key Result Areas:
? Directed financial and taxation operations, overseeing audits, financial reporting, and budgeting for both Capex and Opex, providing strong financial leadership to all supported functional areas.
? Ensured adherence to corporate policies by implementing robust financial controls and identifying necessary measures for new business processes and transactions, safeguarding the integrity of financial operations.
? Facilitated monthly financial reviews and periodic business planning sessions, analyzing financial and operational results, monitoring key data, and contributing to the development and execution of strategic initiatives.
? Oversaw all aspects of tax management, including direct, indirect, and transfer pricing, ensuring compliance with regulatory requirements and mitigating tax risks for the organization.
? Developed and nurtured a collaborative, cross-functional team approach, providing comprehensive financial management support to all business levels, driving financial alignment and operational efficiency across the organization.
? Working capital management and fund raising by equity injection, ECB from financial institutions.
? Control over on all the statutory compliances related finance, accounts and taxation.
Highlights:
? Handled a $1 billion Ultra Mega Project investment, managing the capitalization of fixed assets, pre-operative expenses, and implementing financial policies, internal controls, SAP systems, and taxation controls. Led coordination with the Government of Andhra Pradesh for MoU signing, fiscal incentives documentation, and liaised with bureaucrats.
? Managed inventory funding for the dealer financing program and worked with corporate bankers to create virtual accounts and establish host-to-host connections for customer collections and treasury management.
? GST Refund and duty drawback on export of cars and engines
Rising Stars Mobile India Pvt. Ltd. (Foxconn International Holding Group - FIH), Sricity, AP Oct’15 – Aug’18
Head – Accounts & Taxation
Key Result Areas:
? Maintained the integrity of accounting information and taxation processes, conducting thorough research to resolve financial discrepancies and ensure compliance, while establishing quality controls over transactions and reporting.
? Oversaw the Accounts Payable and Accounts Receivable functions, verifying payment documentation, referencing outstanding bills, updating debt balances, and ensuring timely and accurate disbursements.
? Conducted comprehensive reviews and reconciliations of the general ledger, identifying discrepancies, performing detailed investigations, and implementing corrective actions to resolve any issues.
? Led the month-end, quarter-end, and year-end closing processes, ensuring the accurate creation and posting of all entries, verifying the completeness, accuracy, and cohesion of financial data.
? Lead the direct and indirect tax periodic compliances & filings, tax planning and tax management to optimize the tax risk
? Compiled and provided detailed financial reports on-demand and periodically, including balance sheets, profit and loss statements, revenue forecasts, budgets, and cash-flow statements, supporting strategic decision-making.
Highlights:
? Handled a $500 million mega project investment, managing the capitalization of fixed assets, pre-operative expenses, and implementing financial policies, internal controls, and SAP systems.
? Led coordination with the Government of Andhra Pradesh for MoU signing and fiscal incentives, earning a cash award for efficient incentive management.
? Implemented Internal Financial Control (IFC) systems and Risk Control Matrix, ensuring periodic effectiveness verification.
? Executed transition to IFRS accounting standards, converting financial books from Indian Accounting Standards (IndAS) to IFRS.
? Provided training on prior GST policies to financial and cross-functional teams.
? Implemented GST business processes in SAP and other software, filed Tran-1, managed GST refunds for inverted tax structure.
? Initiated an APA with tax authorities for related party transactions with the Group Companies to reduce tax risk.
NS Instruments India Pvt. Ltd., Sricity, AP Aug’12 – Sep’15
Manager – Finance & Accounts (HoD)
Key Result Areas:
? Financial leadership on Finance, Accounts, Taxation, Audits & Statutory Compliances.
? Participate in financial planning activities to develop strategic plans, budget and forecasts and provide clear monitoring.
? Mega Project – initial year’s capitalization of fixed assets, prior period expense capitalization in line accounting standard and creating fixed assets policy.
? Participate in the processes to assess and improve the finance operations, audit process, financial controls, and compliance with regulatory requirements. Report results assessment and improvement processes to the appropriate administrative levels.
? Demonstrate subject matter expertise of financial systems, financial data management and reconciliation, and financial operational processes.
? Implement and integrate financial systems, specifically enterprise reporting platform and integration of customer relationship management.
? Fund raising as per business plan by equity injection, ECB loan and long terms borrowings from financial institutions.
? Handled secretarial function and maintaining all sort of records, minutes books, secretarial filing with regulatory authority
? Import License, Customs SVB Valuation, customs duty refund and duty drawback.
Highlights:
? Handled a $100 million mega project investment, managing the capitalization of fixed assets, pre-operative expenses, and implementing financial policies, internal controls, and ERP system implementation.
? Led coordination with the Government of Andhra Pradesh for MoU signing and fiscal incentives, earning a cash award for efficient incentive management.
? Implemented Internal Financial Control (IFC) systems and Risk Control Matrix, ensuring periodic effectiveness verification.
? Handled all the Liaoning and regulatory approvals, registrations and compliances thereon
PREVIOUS WORK EXPERIENCE
Dymos Lear Automotive India Pvt. Ltd., SIPCOT, Irrungattukottai Manager - Finance & Accounts Mar’10 – Jul’12
Sona Koyo Steering Systems Limited | Sriperumbudur, TN Assistant Manager - Finance & Accounts May’07 – Mar’10
SUSPA Pneumatics (India) Limited, Kottivakkam, Chennai, TN Senior Executive - Accounts May’02 – Apr’07
Innvol Medical India Ltd., Chennai, TN Executive - Accounts Oct’98 – Apr’02
Pilco Allglass Ltd., Chennai, TN Accounts Officer Jan’94 – Sep’98
PERSONAL DETAILS
Date of Birth: 17th January 1972
Sex: Male
Nationality: Indian
Language Known: Tamil & English
Passport No: B9593594
Contact Address: New No.3/243, Old No. 3/164, 6th Street, R. R. Nagar, Srinivasapuram,
Iyyappanthangal, Chennai, 600056, Tamil Nadu, India
(Landmark: Behind Raja Stores)