CA Nand Kishore Khandelwal: A Financial Leaders Advocating for Constant Change
CA Nand Kishore Khandelwal
President - Corporate Resources & Chief Financial Officer, Pitti Engineering
But on the flip side, this dramatic shift also brings along a myriad of challenges, especially with respect to the expertise and skills that it calls for. The modern day CFOs need to grow their skills beyond financial expertise to possess subject matter expertise and extensive business acumen. Having such a comprehensive set of expertise, knowledge and skills, chiseling them abreast of the dynamic business landscape, and hence maneuvering with the constant changes towards adding value to the organization have been the game changer for CA Nand Kishore Khandelwal, President Corporate Resources & Chief Financial Officer, Pitti Engineering (BSE & NSE listed Revenue Rs. 900 crores FY22E) to emerge as a finance leader. Established in 1983, Pitti Engineering Limited(PEL)today is a globally renowned manufacturer of Electrical Steel Laminations, Motor Cores, Sub assemblies, Die cast Rotors and Machined Components. A Chartered Accountant with about 30 years of leadership experience in Finance & Operations across diverse industries like agro based processing and Food FMCG, Aluminium Extrusion, Iron & Steel Castings and Engineering Products, Nand Kishore is also a S/4HANA expert and a keen analyst. Close to a decade, he has been a member of core Management team responsible for phenomenal growth of Pitti Engineering. CEO Insights recently got in touch with Nand Kishore and he walked through his latest endeavor with the company, his journey as well as the future plans.
What inspired you to start your profession¬al journey in the Organization Management and Finance industry and what drives you today as an industryleader?
While in secondary school, I was curious about how the businesses in different industrial sectors are financed, operated, and managed. It didn’t take much time for me to realize that CA is the only course that can provide me a unique opportunity to enhance my knowledge across multiple industrial sectors and develop my under standing of all functionalities of a business organization. I became a Chartered Accountant in 1992.
The drive to explore prompted me to take up various professional assign
ments in commercial, operations, infor mation technology, human resources, admin, and corporate strategy along with my core domain of finance, accounts, taxation and foreign trade functions. This journey helped me to develop a holistic view about the internal needs of an organization and the external business environment, both of which are the base of all corporate strategies, leading me to reach the Management position I am in today.
I believe, to be an industry leader, it is important to keep pace with the changes andstrive to do something new or different consistently to enhance the business value of the organization.
How would you define Pitti Engineering? Also, where is the company positioned in the market?
Pitti Engineering Limited(PEL) is a uniquely placed home grown company that offers precision components integrating various engineering processes like stamping, machining, die casting, fabrication and shaft making to produce ready to use components in the final assembly of electrical motors and generators.We take pride in PEL’s prestigious customer ecosystem which includes leading brands like GE, Wabtec, Siemens, Cummins, and ABB. PEL is the largest manufacturer of lamination and value added assemblies in the organized sector in India, besides being the largest exporter.
How does your organization set itself apart from the competition? As the CFO, how do you intend to build further on this impeccable reputation of the company?
The differentiated products offered by PEL for its customers are aimed at reducing the supply chain of the customers. Taking onus for the supply of quality products by integrating multiple engineering processes puts PEL in a unique position while creating its own market segment away from competition.
As CFO, I intend to be agile in under standing, evaluating, and arranging all resources within stipulated time frames, in order to complement the business needs of PEL towards maintaining the market leadership in the industry, while keeping a tight control over costs.
What is your success mantra that helped you reach where you are today?
The capability to understand the business, set clear goals and develop processes and teams that can respond to a dynamic business environment helped me to reach where I am today.
In your professional journey so far, which are the milestones that bestowed you with utmost satisfaction both as an individual and as an industry leader?
For me, it’s the journey that makes me feel satisfied, not the milestones. Taking up new and challenging roles gives me satisfaction. I feel satisfied when I can provide solutions to people who come seeking guidance. I feel satisfied, when I see people who worked with me progressing.
I believe, to be an industry leader, it is important to keep pace with the changes and strive to do something new or different consistently to enhance the business value of the organization
I believe, to be an industry leader, it is important to keep pace with the changes andstrive to do something new or different consistently to enhance the business value of the organization.
How would you define Pitti Engineering? Also, where is the company positioned in the market?
Pitti Engineering Limited(PEL) is a uniquely placed home grown company that offers precision components integrating various engineering processes like stamping, machining, die casting, fabrication and shaft making to produce ready to use components in the final assembly of electrical motors and generators.We take pride in PEL’s prestigious customer ecosystem which includes leading brands like GE, Wabtec, Siemens, Cummins, and ABB. PEL is the largest manufacturer of lamination and value added assemblies in the organized sector in India, besides being the largest exporter.
How does your organization set itself apart from the competition? As the CFO, how do you intend to build further on this impeccable reputation of the company?
The differentiated products offered by PEL for its customers are aimed at reducing the supply chain of the customers. Taking onus for the supply of quality products by integrating multiple engineering processes puts PEL in a unique position while creating its own market segment away from competition.
As CFO, I intend to be agile in under standing, evaluating, and arranging all resources within stipulated time frames, in order to complement the business needs of PEL towards maintaining the market leadership in the industry, while keeping a tight control over costs.
What is your success mantra that helped you reach where you are today?
The capability to understand the business, set clear goals and develop processes and teams that can respond to a dynamic business environment helped me to reach where I am today.
In your professional journey so far, which are the milestones that bestowed you with utmost satisfaction both as an individual and as an industry leader?
For me, it’s the journey that makes me feel satisfied, not the milestones. Taking up new and challenging roles gives me satisfaction. I feel satisfied when I can provide solutions to people who come seeking guidance. I feel satisfied, when I see people who worked with me progressing.
So, on an individual level my satisfaction is in simple things.
In my professional journey, some of the milestones that make me feel happy are, syndication of debts for green and brown field expansion projects, successful implementation of SAP S/4HANA as the project lead, migration to IND AS and implementation of IFC in PEL; development of robust management information system and successful closure of wage settlement with the workers union in Alumeco as well as establishing trading(procurement & sales)network for certain agro commodities and chemicals in Param (Ruchi).
How has been your response to the challenges posted by the COVID affected market and the need for new strategies? How would you describe your role in tackling those challenges?
Though COVID created health disasters across the globe it also surprised us with the resilience of the people and the organizations to adapt to the challenging times. These times made us work on incorporating safety protocols in the working environment, retaining workforce confidence automation of manufacturing processes and digitalization of corporate processes coupled with creating remote working infrastructure for support functions in time to ensure minimal disruptions. As a person heading corporate resources and CFO you need to be in the center of all activities.
Going forward, what are the changes in market behavior that you anticipate and what are the opportunities that you foresee as a leader?
I see immense changes in the way businesses are done both in goods and services sectors, the technology and changed demography has created a lot of challenges and opportunities depending on the side from where one sees. This trend will continue to affect consumer behavior and I feel the businesses that are quick in shedding their old skin and adapting to the changes smoothly will live happily ever after. I foresee, it’s the rate of adaptation to change that will define the business leadership.
CA Nand Kishore Khandelwal, President Corporate Resources & Chief Financial Officer, Pitti Engineering
Nand Kishore is a Chartered Accountant with about 30 years of rich experience in Management Positions for Finance & Operations Roles across diverse industries like agro-based processing and Food FMCG, Aluminum Extrusion, Iron & Steel Castings and Engineering Products. Prior to joining Pitti Engineering he has worked with organizations like Alumeco India Extrusion, Dukes Products India, and Param Industries among others. He is a keen analyst with exceptional relationship management skills for liaising with external agencies like Investors, Analysts, Financial Institutions, Statutory Authorities, Rating Agencies and Auditors. His extensive experience in corporate strategy, closure of financial statements, fund raising, treasury management, profitability analysis, and effective implementation of internal controls to ensure compliance for risks and governance has also been a priceless aspect that he brings to the table.
Hobbies:Reading & Traveling
Favorite Cuisine:Indian
Favorite Book:'The Biology of Belief'by Bruce Lipton and 'The Power of Now'by Eckhart Tolle
Favorite Travel Destination:San Francisco
In my professional journey, some of the milestones that make me feel happy are, syndication of debts for green and brown field expansion projects, successful implementation of SAP S/4HANA as the project lead, migration to IND AS and implementation of IFC in PEL; development of robust management information system and successful closure of wage settlement with the workers union in Alumeco as well as establishing trading(procurement & sales)network for certain agro commodities and chemicals in Param (Ruchi).
How has been your response to the challenges posted by the COVID affected market and the need for new strategies? How would you describe your role in tackling those challenges?
Though COVID created health disasters across the globe it also surprised us with the resilience of the people and the organizations to adapt to the challenging times. These times made us work on incorporating safety protocols in the working environment, retaining workforce confidence automation of manufacturing processes and digitalization of corporate processes coupled with creating remote working infrastructure for support functions in time to ensure minimal disruptions. As a person heading corporate resources and CFO you need to be in the center of all activities.
Going forward, what are the changes in market behavior that you anticipate and what are the opportunities that you foresee as a leader?
I see immense changes in the way businesses are done both in goods and services sectors, the technology and changed demography has created a lot of challenges and opportunities depending on the side from where one sees. This trend will continue to affect consumer behavior and I feel the businesses that are quick in shedding their old skin and adapting to the changes smoothly will live happily ever after. I foresee, it’s the rate of adaptation to change that will define the business leadership.
CA Nand Kishore Khandelwal, President Corporate Resources & Chief Financial Officer, Pitti Engineering
Nand Kishore is a Chartered Accountant with about 30 years of rich experience in Management Positions for Finance & Operations Roles across diverse industries like agro-based processing and Food FMCG, Aluminum Extrusion, Iron & Steel Castings and Engineering Products. Prior to joining Pitti Engineering he has worked with organizations like Alumeco India Extrusion, Dukes Products India, and Param Industries among others. He is a keen analyst with exceptional relationship management skills for liaising with external agencies like Investors, Analysts, Financial Institutions, Statutory Authorities, Rating Agencies and Auditors. His extensive experience in corporate strategy, closure of financial statements, fund raising, treasury management, profitability analysis, and effective implementation of internal controls to ensure compliance for risks and governance has also been a priceless aspect that he brings to the table.
Hobbies:Reading & Traveling
Favorite Cuisine:Indian
Favorite Book:'The Biology of Belief'by Bruce Lipton and 'The Power of Now'by Eckhart Tolle
Favorite Travel Destination:San Francisco