This document provides an overview of Mandar Borkar's experience and responsibilities as Country Finance Head for India at Watson. It includes: - Mandar Borkar's background, including over 20 years of experience in finance roles, with the last 9 years spent at Watson. - A summary of his responsibilities and achievements in his current role at Watson India, including managing accounting, reporting, controls, compliance, tax, and business partnering. - Details of key projects he has led, such as SAP implementations, finance department set up, and global integration projects. - An outline of the finance team's responsibilities and focus areas under his leadership.

1. India Finance Overview
Mandar Borkar
1

2. • Name: Mandar Borkar
• Department and Sub Function: Country Finance
Head India
• Experience in Watson : 9 Years
• Total Experience : 20 Years
• Prior Experience outside Watson:
Lupin Limited (Formulation Business Finance
Controller) 5 Years Transnational Indian Pharma
with US$ 2bn plus Revenue (2002-07)
Parke Davis (Erst while subsidiary of Warner
Lambert, acquired by Pfizer) 3 Years– Manager
Financial Planning – (1999-2002)
Mahindra Automotive Sector 3 Years Plant
Finance Lead (Controlling & Business
Consolidation) (1996-99)
• Education:
Chartered Accountant (Equivalent to US CPA)
1996
Cost Accountant (Equivalent to Global CIMA)
1993
Bachelor of Commerce (B.Com.) 1993
Advanced Certificate IFRS Implementation &
Compliance (2010)
Articleship Training
CA Member firm Morison International, a fast
growing international association with operations
in 90 countries (1993-96)
2
Valuable Business Partner with Strong compliance & Ethics
Career Synopsis 2

3. India Finance
 Successfully managed expanded operations – system and processes scalable
 Accounting & Reporting:
 Qualitative and timely submission of monthly financial reports as per Global calendar (Day 4)
 Statutory Audit finalization without any observations/qualifications
 US GAAP / IFRS Reporting – Migration to IND AS
 Process Improvement:
 SAP Roll Out at two legal entities (WPPL - Jan 2008 and APDC – 1Q15) / Successful scale up
 New Tools like – SAP Functional Currency
 Tax: Successfully managed Tax Compliance and Tax Planning initiatives in highly complex regulatory
environment (Direct and Indirect Tax)
 Team Development – Building up capable finance team to meet increasing and newer challenges
Key Highlights:
3
3

4. Internal Audit, Internal Control and SOX Testing
SOX Testing Results (Number of SOX Deficiencies)
4
4
3
2
4
2
0
1
2
3
4
5
2010 2011 2012 2013 2014
Internal control review conducted by Independent consulting firm Score ranges from 86% to 100% (2011 onwards)
Corporate Internal Audit team observations
Note: No observations were critical. Significant deficiencies / material weakness were also NIL
0
2
3
2
0
10
3
4
3
0
8
0
5
10
15
20
2010 2011 2012 2013 2014 2015
Medium Low
4
Note: No material weakness or significant deficiencies were reported in the last 5 years

5.  Actively partnered with CFO during set up of Finance department from inception, SAP Implementation
& ensuring financial discipline and meeting global finance & business requirements in a rapidly
growing Indian subsidiary.
 Global Finance Integration Projects ~ being a part of series of acquisitions across geographies like
Europe, US, Australia & South East Asia (Deal value multi billions)
 A key team member for implementing Cognos Controller for Global Consolidation involving 46 legal
entities with complexities of IFRS to US GAAP conversion.
 Excellent business support to newly acquired European entities – Greece , Malta & other key Europe
countries
 Financial Closing & Reporting timelines improved from week 3 to day 5
 Corporate Tax Planning initiatives Advanced Pricing Agreement, Legal Entity Restructuring & managing
complex Transfer Pricing litigations (High Court level issues)
 Recipient of the award “The Best Employee – Demonstrating Corporate Value Accountability”
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Synopsis / Other Projects
India Build Phase
2007-09
India & Beyond
2010-12
WPPL Finance Lead 2013
Onwards
5

6. Finance Key Role
Planning & Reporting
•Financial Planning & Analysis
•Performance Review; Reporting
•Business support
•Product Costing
Controls & Compliance
•Tax compliance
•Transfer Pricing
•SOX compliance
•Internal Controls, Policies & Procedures
•Local Statutory compliances
Transaction Processing
•Financial closing
•Centralized Accounts Payables
•Banking & Risk Assessments
•Payroll
Business
Partner
Centralized Structure
Supporting all sites from one
location
Quick Business Solutions
Unique team with exceptional
SAP and functional
knowledge
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7. Business Support
 Provide optimum solution on the various business scenarios like
 Capex Proposal Evaluation, facilitate CER approval & help in monitoring project progress
 Product costing – Accuracy and timely submission of inputs to facilitate decision making
 Opex Project – Active involvement with site team to ensure right projects are identified and drive review and
implementation
 Support to TPM operations
 Finalizing TPM vendor – commercial input
 Vendor balances – monitoring and timely payments
 Review of product cost ongoing
 Facilitate resolution of business challenges related to process, approvals, documentation and provide solution for
the same.
 Best practices to bring efficiencies in processes for both finance & user function
Compliance:
 Tax compliance –Direct and Indirect tax regulations
 SOX / IC – Quarterly document updation, certification and IC – ensuring compliance with local and global policies
Internal audit - ensuring no major/critical observation in local and global internal audit
 Other Statutory compliance Company’s Act
Metric :
 No observations that leads to serious deficiencies and / or material weakness during SOX Audit (including ITGC)
 Ensuring compliance to all applicable regulations such that there are no material observations
 Adherence to all the Global & Local Policies
7Finance Key Deliverables 7

8. Financial Accounting, Reporting and Statutory Audit:
Management performance reviews
1.Monthly Dashboard
2.Plant Reporting Pack
3.Monthly Management Reporting
4.Global R&D Finance requirements
Dec and March year end closing and financials – ensure compliance with Accounting
Standards and applicable Company’s Act provisions
Ind AS Implementation – New set of accounting rules, understand provisions and
ensure seamless implementation to meet the reporting requirements
Global reporting
Business Process Consolidation Submission (BPC)
Metric :
 Ensuring timely and qualitative submission as per the agreed reporting calendar
 Completion of statutory audit as per agreed calendar with auditors
 Keep updated with all upcoming changes & ensure 100% compliance
8Finance Key Deliverables 8

9. Annual Budget, Business Forecast
 Annual Budget (Manufacturing, R&D and Shared Services)
 Drive the overall budgeting process across the organization
 Ensuring robust compilation, analysis and review across all levels
 Close co-ordination with all local and regional stakeholders for completing the periodical forecast /
Periodic cash flow & capex forecast to plan funds management
Metric :
 Submission of Budget with appropriate back-ups in agreed template (RFT 100%) within the agreed
calendar
 Ensuring timely and qualitative submission as per the agreed reporting calendar
 Forecast – ensure submission timelines & not less than 95% accuracy for expenses / spend and for
capital not less than 90%
Transaction Processing (seamless, cost effective & meeting the internal customer satisfaction level)
Treasury & Insurance
Ensure optimum cash levels and coordinate investments as per the defined policy
Insurance – coordinate with regional treasury and implement the insurance management program
Payroll
Ensuring accuracy and timely disbursal
Compliance with the relevant regulations
Ensuring timely payment with appropriate controls
Process improvement / manage increased volume with existing headcount
9Finance Key Deliverables 9