1. SANJAY KULKARNI
EMP-72/402, Sector I, Evershine Millennium Paradise,
Thakur Village, Kandivali (East), Mumbai – 400 101
Tel (R) 022-6576 8254 Mobile: 9819801640
(Off): 022 – 6775 1716
Finance Professional with extensive experience in accounting, internal and external
financial reporting, integrated systems, tax planning and transfer pricing, insurance and
risk management, budgeting and control, financial planning and analysis, and assisting
business leaders to achieve their financial goals.
Committed to enterprise value creation through strong internal controls, timely business
analysis, and accurate and insightful financial reporting
Handling the finance & tax function for the business unit and Corporate
Key performance areas
- Accounting & Financial Operations
- Strategic Planning, Budgeting and Forecasting
- Financial & Cost Reporting
- Cost Reduction & Process Improvement
- Corporate and International Taxation
- Legal and Secretarial compliance, Corporate Governance
- Review of existing internal controls and ensuring strict compliance
- Audits and due diligence
- Compliance with SOX 404 requirements
- Advanced computer skills, incl. ERPs (MFG/Pro, ACCPAC, JDE, Oracle R12)
- Indian and US GAAP experience
- Managing and developing team members successfully to achieve individual and company goals
Functional expertise for ERP projects
Ethics and compliance
2. Career Sketch
1. Currently working at Emerson Electric Co India Pvr Ld – Corporate entity for Emerson in India
as Director Finance & Tax since Sep 2013 till date.
Responsible for India , MEA Corporate and Sri Lanka legal entity
Work Areas: -
- Corporate Finance function oversight over management reporting to Parent co
Accounting team for all shared service centers in India, Sri Lanka and the MEA Corporate
- Budgetary Planning for all India units per Corporate guidelines
- Corporate Treasury and funding management for all Indian entities to ensure optimal
- Cash pool arrangement for various divisions and surplus funds investments in maximum
- Work with relationship banks in India and develop the same and highlight issues faced
by business and work on process improvements and new controls
- Managing Statutory and all audits for entity including Sri Lanka region entity as well
- Company law matters and secretarial compliances on time
- Attending Corporate Governance meetings for all business units in India
- Part of the Oracle IT Board to represent as the Finance stakeholder on various
- Lead implementation of IT systems for various units of the company – successfully
implemented Oracle OIB and HFM systems and e-banking platforms for company units
- Global shared service centre/Corporate office standardization
- Risk Management function for Corporate and all entities – insurance policies renewals
and also work on Risk mitigation recommendations of global insurance partner
- Coordination of finance issues impacting the country as a whole ; viz. Group policies and
procedures , Local regulatory requirements, new regulations preparedness (INDAS/GST)
- Organization of annual India Controller’s Conference and topic specific training sessions.
- Assist new business units of Company setting up in India to help them set up their
operations and provide finance support
3. - Corporate Tax matters - involving managing routine direct and indirect tax issues for
legal entity and also special attention to developing strategy to manage potential
overseas tax liabilities of Indian entities and overseas entities in India.
- Analyze tax efficient restructuring of the Indian entities and working on advisory matters
on valuation and tax structuring for new acquisitions and divestitures in India
2. Emerson Process Management India Pvt. Ltd.
(September 2005 till June 2013)
Designation - Asst. Finance Director (since April 2011)
Joined as - Finance Controller
Subsidiary of Emerson Electric Co., USA engaged in the manufacture of process instrumentation
and distributed control systems having a turnover of Rs. 600 crores.
Work Areas: -
- Responsible for overseeing the general accounting and internal and external reporting by
managing a team of 10 persons (3 Direct reports and their team)
- Credit Exposure management by designing a credit evaluation technique for all
customers and implementing a credit limits tracking system
- Managing Tax assessments and transfer pricing assessments
- Compilation of P&L budget and preparing justifications for Board approval of the same
- Monitoring the revenues and costs related to long term projects and monthly review of
project estimates for costs at completion.
- Working Capital improvement plans – Monitoring Receivables and Inventory aging and
monthly review of inventory turns and DSO
- Responsible for managing the various audits, such as internal audit, statutory audit,
FCPA and SOX audit
- Oracle implementation Project Manager for company
- Business unit wise – financial analyst role - Advising business unit head on key
financials metrics analysis, decision support for business strategies, short term and long
term financial plans
- Process improvement projects adding value as key support function
- Training business and sales team for financial discipline and awareness for better
- Monthly Plans working and submission to Corporate
4. Selected contributions:
- Profit improvement actions project leader – worked with all business units to track the
actions taken , highlight key issues and suggest actions and develop report for monthly
- Designed and implemented a Credit Policy for the company by designing a template for
evaluation of credit limits for customers. Created a database which enabled on-line
monitoring of credit limits and outstanding of customers facilitating control and efficient
- Project leader for Oracle financials implementation
- Capital investment decision matrix preparation and setting up process for Capex
- Process improvements in vendor invoice accounting and payment processes, shared
services transition plan for routine accounting transactions – worked with AsiaPac teams
- Project leader for Past dues improvements and development of automation tool for
- Monthly forecast profitability estimation – work on sales & Operational planning exercise
with business units and have good P&L estimation tool.
- Designed and implemented a template for review of Selling and general administration
expenses of all common departments and trained department heads to develop and
manage their operating budgets, significantly improving overhead cost ownership,
visibility and control.
- Successfully standardizing the assets’ insurance covers by negotiation with various
insurance companies, thereby realizing savings in premium outgo.
- Restored active communication between operations personnel and the finance
department, improving efficiencies
2. Sigma Marine and Protective Coatings India P. Ltd.
Position - Senior Manager Finance & Admn.
(July 2004 till September 2005)
Company is a wholly owned subsidiary of Sigmakalon BV, Holland which is one of the leading
marine and decorative paints suppliers in Europe and rest of the world. The Indian company had
a small presence in India through its Sales office having an annual turnover of Rs. 25 crores.
5. Work Areas:
Responsible for overall coordination of the below activities:
- Financial accounting and monthly reporting in Hyperion
- Management Reporting to Asia Pacific Finance Controller in Hyperion database
- ROI calculations for financial viability of new factory project and submitting the same for
review of HQ. Internal discussions with business heads for review of financial data and
evaluation of possible scenarios which give varying ROI results, culminating with
selection of most likely case.
- Make effective and innovative use of ERP (ACCPAC) to develop new reports and provide
useful information to management for decision making
- Compliance with Group Authority rules and procedures and also of Indian statutes
- Direct and Indirect Taxation
- Insurance of assets
- Administration responsibilities, payroll, leave management, etc.
- HR function involving preliminary interviews, evaluation and hiring, issuing appointment
letters and calculation of salaries and bonuses. Active involvement in performance
appraisal process annually.
- I T department responsibilities viz. server maintenance, network management, backups,
user access management, program change in ERP, overall ensuring no downtime of
- Secretarial and legal statutes compliance
- Ensure completion of statutory, tax and transfer pricing audits
3. Raychem RPG Limited
Manager- Finance & Company Secretary
(Feb.2000 till June 2004)
The Company was a 50:50 joint venture between Raychem Radiation Technologies USA (later
taken over by Tyco International USA) and RPG Enterprises, a leading Business house in India. The
company was engaged in the manufacture and sale of power and telecommunication cables
jointing accessories having one state-of-the –art manufacturing facility and an annual turnover of
Rs. 100 crores.
6. Work Areas:
a.) FINANCE & ACCOUNTS
- Ensuring timely and correct accounting of all financial transactions.
- Timely completion of internal audits, statutory audits and other audits.
- Weekly monitoring of receivables position for cash planning and forecasts. Preparation of
cash flows for the week and month to ensure smooth payments of all dues.
- Liasoning with all banks & financial institutions for obtaining cheap and new sources of
finance. (Viz. CP, FCNR loans, etc.)
- Monitoring both fund-based and non-fund based limits sanctioned by banks and making
applications for enhancement in limits.
- Forward Covers taken to hedge the company's net forex exposure from time to time.
- Project Accounting – Accounting for composite as well as individual contracts involving
supply and services to the major Pipeline projects of Oil & Gas companies all across
b.) MIS REPORTS
- Preparation and analysis of monthly profitability position of the Company and compiling
MIS reports on monthly basis for perusal of top management.
- Separate reports of Receivables, Inventory, Divisional profitability statements, other
current Assets, divisional operating expenses are prepared at monthly intervals for the
top management. Comparison of actual performance as against the Budgets fixed at the
beginning of the year included in these reports.
- MIS Reporting to USA Parent Company done on a monthly basis using Hyperion
- MIS Reporting to Indian Partner in a pre-set excel reports giving all aspects of the
financial performance parameters.
- Project wise profitability analysis, receivables status and comparison of Budgets with
Actual – Reports for the SBU head & CEO.
- Sending Budget data formats to all Division heads and fixing time schedules for each of
them to make their presentations.
- Compiling all the budget data given by each of the business heads and preparing a total
7. d.) TAXATION
- Preparation and filing of the income tax return, TDS returns, etc.
- Advising the divisions about tax implications of their various new business transactions.
- Ensuring correct deduction of TDS and issue of TDS certificates on time.
- Obtaining tax clearance certificates, NOC's etc. for various purposes.
- Ensuring timely completion of all assessments and providing all data for appeals to CIT,
Tribunal. Attending the hearings along with consultants for various disputed tax matters.
- Advice to business heads on implications of Sales tax rules. Handling of sales tax returns
- Detailed preparation and study of the implications of the VAT law to be introduced since
- Managing the Excise portfolio with responsibility for supervising monthly returns, replies
to show cause notices and handling excise audits, liasoning, etc.
e.) INSURANCE & RISK MANAGEMENT
- Ensuring that all tangible assets of the Company are adequately covered against various
- Submission of periodical declarations, statements and information to the insurance
- Ensuring that maximum possible discounts are obtained from insurance company to
minimize the cost of insurance without compromising on the scope of coverage.
- Follow-up with the insurance company for getting all refunds / claims on timely basis.
f.) COMPANY SECRETARIAL MATTERS
- Compliance with Companies Act and other applicable regulations.
- Preparation of agenda for Board Meeting.
- Maintaining secretarial records for the company.
- Submission of returns to ROC and other authorities.
- Attending Board Meeting & preparation of minutes thereof.
g.) ERP EXPOSURE
- Working in MFG/Pro on Unix, Progress platform
- Assist in development of inventory valuation module
8. - Assist in development of Excise, TDS and Sales tax modules
- Assist in development of project management software
- Developing MIS reports from the report writer module
- Assist in Costing module restructuring
- Fixed Assets accounting package modification to suit accounting needs and MIS reports.
- Assist in creating several custom reports for accessing voluminous data and structuring
them into required formats
- Involved in the process study and probable implementation of the PRM Module for
efficient Project Accounting and Data Management & Analysis offered by same ERP
- Understanding the Business Intelligence Tools offered by Hyperion (viz. Ess Base) for
creating value added and simple reports and analyses for top management review.
4. Wockhardt Limited/ Merind Limited
Assistant Manager- Finance
(April1996 till Jan 2000)
The company is a leader in Indian pharmaceutical and health care segment.
- Payables monitoring and Cash Planning
- Banking and Finance responsibilities
- Direct Taxation
- Insurance Cover monitoring
- Preparation and audit of books of accounts
- ERP systems set up
5. A.F.Ferguson & Co., Chartered Accountant Firm
(April1994 till March 1996)
- Specific responsibility of handling Direct Tax matters of clients such as
- Advising clients on preparation of return of income.
- Advance tax calculations and payments on due date.
- Attending the assessment proceedings on their behalf.
9. - Filing appeals to the higher authorities on matters of dispute, which have been disallowed
by the ITO.
- Advising MNC and foreign companies on the provisions of DTA agreements between India
and other countries and the tax liabilities under these.
- Filing of TDS annual returns, income tax returns on time.
6. B.K. Khare & Co., Chartered Accountant Firm
(June 1990 till March 1994)
Articleship experience with the firm of CA during the periodicity of the Chartered Accountancy
Professional & Scholastic Qualifications
Examination Institute/University Year of Passing Percentage
C.A. I C A I 1993 54.63%
C.S. I C S I 1999 51.00%
Chartered Secretary ICSA UK 2005 60%
B.Com. Mumbai University 1990 68.50%
H.S.C. Mumbai Board 1987 81.00%
S.S.C Pune Board 1985 84.14%
Hands on expertise
Use of ERP packages such as MFG/Pro, ACCPAC, JDE , Oracle R12
Lotus Notes, MS Outlook used for communication.
Hands on experience of working with MS-Word,Excel & Power point Applications
Studied for CISA exam
Date of Birth 19-April-1970
Languages known English, Marathi and Hindi, French( written)
- Reading books on efficient management principles, creativity, fiction and humor and world
- Playing cricket, badminton
- Listening to music.
- Reading about interesting places around the world and planning for travel to these places
- Learn new foreign languages
1. Mr. Ketan Dalal 2. Mr. Anshuman Gupta
Regional Managing Partner
Tel : 98200 39516
J P MORGAN Bank Coatings
Tel: 96191 44620