1. SATISH KUMAR VALECHA
Seeking assignments in Financial Planning & Budgeting, Cost Control & Management,
Accounts/ MIS, Statutory Compliance and System Implementation with an
organisation of repute
⇒ A qualified Chartered Accountant with over 27 years of experience in Financial Planning &
Budgeting, Cost Control & Management, Accounts/ MIS, Statutory Compliance and System
⇒ Last served as Sr. Vice President Finance & Accounts, with Soktas India P Ltd. Kolhapur
Maharashtra , a yarn dyed shirting fabric manufacturing company and part of Soktas
Tekstil group company of Turkey having a group turnover of Rs. 600 cr.
⇒ Experience in products costing, projects financial analysis, cost benefit analysis and make or buy
⇒ Proficient in spearheading cost control & management and financial planning initiatives;
designing internal control systems towards the accomplishment of corporate business goals.
⇒ Experience in Financial Planning, Budgeting, Finalization of Accounts under Indian GAAP
and IFRS in SAP environment, Profit Monitoring and MIS Development.
⇒ Experience in formulating and implementing systems and procedures to facilitate financial
discipline and achieve pre-determined objectives.
⇒ Practical and business focused approach to achieve organisation goals & coupled with strong
inter personal & communication, analytical & presentation skills.
⇒ Practical experience in transfer pricing compliances & assessments.
May’11-Jan’16 Soktas India (P) Ltd. Sr. Vice Pres. (F&A)
Jan’08 – May’11 Roulunds Braking India (P) Ltd. Head (F& A)
May-05 – Jan-08 Federal Mogul Goetze India-Bangalore Plant Fin. controller
Nov.94-May-05 Federal Mogul Goetze India-Patiala Manager-(F&A)
2. Mar’92 – Oct ’94 Sushil K.Singla & Co.,CA firm Chd. Working Partner
May ’90 – Feb ’92 Essen Connectors Ltd. Chandigarh Finance executive
Nov’ ’88 – Apr ’90 Super Circle Gaskets Ltd. New Delhi Finance executive
Financial Planning & Budgeting
Overseeing the finance functions involving determining financial objectives, designing &
implementing systems, policies & procedures to facilitate internal financial control.
Monitoring budgets & actual performance reports for enhancing operations.
Formulating regular annual budgets and conducting variance analysis to determine difference
between projected figures & actual expenditure and implementing corrective actions in
coordination with management.
Liaising and negotiating with banks and financial institutions for raising fund and non-fund based
facilities to meet working capital and project requirements.
Dealt with foreign exchange instruments like hedging, options, and funds raising thru Banks and
Cost Control & Management
Implementing effective costing systems for determining product costs at various stages of
production, monitoring various overheads in process involving fresh investment and achieving
optimum cost control by strict monitoring as per overall policy.
Screening through costing records (stock valuations, raw material costs) to determine appropriate
product price keeping in consideration the profit margin desired.
Monitoring and presenting costs of products vis-a–vis prices along with participation in make or
buy decisions and participation in pricing policies.
Preparing & administering finalization of year-end financial statements as per Indian GAAP and
IFRS /US GAAP/IFRS in SAP environment and other integrated systems.
Supervising preparation and maintenance of various books/registers viz. cash book, bank book,
ledgers, and fixed assets register to ensure smooth accounting operations.
Developing periodic closing statement, reconciliation of inter-divisional accounts & other closing
statements as well as making accounts schedules and disbursing payments to vendors.
Devising & implementing MIS reporting system as well as monitoring monthly management
reports (MIS) and other allied reports.
Interfacing with internal and statutory auditors for internal and statutory audit reports and
finalisations of quarterly, half yearly and yearly closure of accounts and financial reports.
Interfacing with Income-Tax authorities for timely filing of Income Tax, TDS, service tax returns
including deduction, certification, returns, exemption related benefits and registrations and inter
facing with assessing authorities for TP & Regular assessments.
Liaising with banks & other government departments and regulatory authorities for obtaining
necessary licenses and approvals on funding & others.
Overseeing timely filing & assessment & and submission of Statutory payments Compliance
report as per provisions of statutory /regulatory bodies.
Understanding business process, study and analyze workflow to design solutions as well as
conducting gap analysis, assess scope of studies & suggest solutions.
Facilitating smooth implementation of systems and procedures for improving functional efficiency
and generate cost savings.
3. NOTABLE ACCOMPLISHMENTS
At Soktas India P Ltd.
Played a leading roll in assessment of Transfer pricing and regular tax assessments for the
company since inception of company.
At Roulunds Braking India
Played a key role in successful implementation of SAP as project leader in FICO module and run a
complete live cycle and currently running successfully all reporting & MIS in SAP.
At Federal Mogul Goetze India Ltd
Played a key role in implementation of SAP in FICO module with a team and successfully
completed one live cycle from end to end and worked in SAP for 4 years.
Successful in reducing various input costs by 25% over a period of past 5 years as a team
member of VE projects team and PIP committee as well as reducing overall inventories by around
50% from 140 million to 70 million.
Distinction of decreasing the department‘s manpower by 50% from 30 to 15
Instrumental in developing reviews and controlling system of cost inputs, inventories by the
mechanism of Bill of Material, PIP analysis, Inventories norms etc.
Significantly contributed in process, raw material, consumables & finished goods inventory by
fixing inventory norms & thereby controlling procurements cost as a team member of Plant
Involved in submitting MIS reports to HO including weekly and monthly Profit Flash on 2nd day of
succeeding month, inventory reports, and monthly balance sheet by 2nd of succeeding month as
well as new product costs as per marketing requirements, employee’s status, status of inventories
and investment reports.
Merit of controlling and reviewing the input costs viz. Raw material, Consumables, Power and fuel
etc by the mechanism of Bill of Material based on monthly business plans.
At Sushil K.Singla & Co., Chandigarh
A professional firm of Chartered Accountants and took various auditing assignments of Ltd.
Companies banks, Govt. controlled companies and firms.
Computation of taxable income of firms and individuals and their assessments with Income tax
Completion of various projects reports of clients as per requirements.
Handling of Co. secretarial work of clients and liasioning with ROC.
At Essen Connectors Ltd. Chandigarh
Handling of Co. Secretarial work.
Maintenance of projects accounts implemented by Co.
Liaising with Financial Institution of project funds disbursements
At Super Circle Gaskets Ltd. New Delhi
Maintenance of accounts and Financial statements
Control and payments of Sundry Creditors.
Product costing of new products.
4. ACADEMIC CREDENTIALS
C.A. final from Institute of Chartered Accountants of India in November 1988
B.Com (Hons.) from Shri Ram College of Commerce, New Delhi, Delhi University in year
Date of Birth : 19th
Current Address: Flat No. 101, Kumar Platinum, Synagogue Street, Camp Pune
Native place Hissar (Haryana)
Language Known English, Hindi, Punjabi
Family details Married to home maker, having two daughters aged 24 & 19, studying CA &
Last CTC Rs 45 lacs
Expected CTC Negotiable
Satish Kumar Valecha