Vikram Oza: The Finance Virtuoso, Leading Organizations To Pinnacles Of Success
Vikram Oza
Director - Finance
Vikram Oza stands as a distinguished financial luminary in the realm of corporate leadership, currently serving as the Director of Finance at Jindal Worldwide. With a career spanning several decades, Vikram has honed his expertise in the intricate tapestry of finance, emerging as a guiding force behind Jindal World wide's financial triumphs.
Below is an excerpt of Vikram Oza’s exclusive interaction with CEO Insights magazine.
Could you give a brief account of your professional background and experiences? What is the motivation that fuels your daily routines?
As predicted by my late grandfather during my birth, I embraced this field. With great support and encouragement from my parents, I have devoted myself to this profession and find immense joy in the journey. Commencing my professional journey with a Chartered Accountancy degree in 1984, I have woven a rich tapestry of experiences spanning over four decades. From serving as a hands-on chief accountant, managing substantial turnovers and manual processes, to steering financial realms in diverse industries, including iconic textile enterprises, my journey has been dynamic.
Over the past two decades, I have
immersed myself in the nuanced world of finance, overseeing day to-day management, fund-raising, and regulatory interactions.
Amid health challenges, my motivation thrives on the ethos of sidestepping negativity, keeping busy with work I'm passionate about, fostering resilience, and embracing each day with enthusiasm.
As the Director - Finance of Jindal World wide, how do you plan to apply your long professional experience in this domain to add more stars to the organization's profile?
Assuming the mantle of Director-Finance at Jindal Worldwide in 2006, I faced a conservative ethos that advocated business solely with personal funds. Recognizing the need for a paradigm shift, I collaborated with the second generation, bringing in a wealth of professional experience. By fostering a mindset of collective strength and the strategic involvement of all stakeholders, we embarked on a remarkable journey. From an initial 10 million meters per annum denim capacity, we now stand proudly at 140 million meters, Asia's largest and among the world's top three. This expansion, fuelled by government incentives and tax subsidies, catapulted our group's borrowing from Rs.10 crores to Rs.1400 crores, establishing unparalleled credibility in the market.
Our growth journey is a testament to the collaborative effort of stakeholders, including lenders, marking our niche in global textile manufacturing. The unstinted support of Promoters in the overall growth journey has been pivotal. They are pillars of strength, granting me the freedom to exercise financial discipline and instill it in the TEAM. As Director-Finance, I aim to leverage my extensive experience, further propelling Jindal Worldwide to greater heights, and securing its legacy as an industry leader.
Tell us about your leadership approach. What are the guidelines or methodologies you follow as a leader?
My leadership approach is grounded in the belief that everyteam member
Amid health challenges, my motivation thrives on the ethos of sidestepping negativity, keeping busy with work I'm passionate about, fostering resilience, and embracing each day with enthusiasm.
My leadership approach is grounded in the belief that every team member is a vital contributor, fostering a culture where collaboration reigns supreme
As the Director - Finance of Jindal World wide, how do you plan to apply your long professional experience in this domain to add more stars to the organization's profile?
Assuming the mantle of Director-Finance at Jindal Worldwide in 2006, I faced a conservative ethos that advocated business solely with personal funds. Recognizing the need for a paradigm shift, I collaborated with the second generation, bringing in a wealth of professional experience. By fostering a mindset of collective strength and the strategic involvement of all stakeholders, we embarked on a remarkable journey. From an initial 10 million meters per annum denim capacity, we now stand proudly at 140 million meters, Asia's largest and among the world's top three. This expansion, fuelled by government incentives and tax subsidies, catapulted our group's borrowing from Rs.10 crores to Rs.1400 crores, establishing unparalleled credibility in the market.
Our growth journey is a testament to the collaborative effort of stakeholders, including lenders, marking our niche in global textile manufacturing. The unstinted support of Promoters in the overall growth journey has been pivotal. They are pillars of strength, granting me the freedom to exercise financial discipline and instill it in the TEAM. As Director-Finance, I aim to leverage my extensive experience, further propelling Jindal Worldwide to greater heights, and securing its legacy as an industry leader.
Tell us about your leadership approach. What are the guidelines or methodologies you follow as a leader?
My leadership approach is grounded in the belief that everyteam member
is a vital contributor, fostering a culture where collaboration reigns supreme. As a leader, I consider myself first among equals, recognizing that experience doesn't equate to exhaustive knowledge. Open-mindedness is key, and learning from colleagues at all levels is imperative, appreciating diverse skill sets. Empathy is my guiding principle, extending beyond professional development to personal well-being. By creating an atmosphere of trust, where team members feel comfortable sharing both professional challenges and personal struggles, I foster a bond akin to a solid structure, enabling collective success and rapid professional growth.
What are the new financial strategies/ advancements the organization is working on? What is the financial road map that you have planned for Jindal Worldwide?
Upon my entry, Jindal World wide's turnover stood at Rs.39 Crore, with a minimal net worth. Over 16 years, our growth trajectory has been unparalleled, witnessing a meteoric rise to over Rs.2000 Crore, and our net worth as per the last audited balance sheet is Rs.650 Crore. This exponential growth, averaging 12 to 14 percent, is a testament to our team's collective efforts, setting us apart in the textile industry. Notably, international recognition beckons, as we've received proposals from distressed companies in Mexico post COVID, showcasing our market visibility and tie-ups with global brands. Our financial roadmap involves sustained growth, strategic partnerships, and seizing opportunities to maintain Jindal Worldwide's ascent in the global textile landscape.
What advice would you give to the upcoming financial leaders in the industry?
My advice to emerging financial leaders is simple: foster open communication with your team, prioritize personal connections, and ensure everyone grows together. Success is a team effort, not a solo journey. In cultivating a strong team spirit, you pave the way for shared success and a resilient path to excellence.
Vikram Oza, Director – Finance, Jindal Worldwide
Vikram Oza, the esteemed Director of Finance at Jindal Worldwide, boasts a prolific career shaping financial landscapes. With visionary acumen, he transformed the company's fortunes, guiding it from a modest turnover to exceeding Rs. 2000 Crores. His strategic prowess and commitment to excellence define him as a stalwart in the finance domain.
What are the new financial strategies/ advancements the organization is working on? What is the financial road map that you have planned for Jindal Worldwide?
Upon my entry, Jindal World wide's turnover stood at Rs.39 Crore, with a minimal net worth. Over 16 years, our growth trajectory has been unparalleled, witnessing a meteoric rise to over Rs.2000 Crore, and our net worth as per the last audited balance sheet is Rs.650 Crore. This exponential growth, averaging 12 to 14 percent, is a testament to our team's collective efforts, setting us apart in the textile industry. Notably, international recognition beckons, as we've received proposals from distressed companies in Mexico post COVID, showcasing our market visibility and tie-ups with global brands. Our financial roadmap involves sustained growth, strategic partnerships, and seizing opportunities to maintain Jindal Worldwide's ascent in the global textile landscape.
What advice would you give to the upcoming financial leaders in the industry?
My advice to emerging financial leaders is simple: foster open communication with your team, prioritize personal connections, and ensure everyone grows together. Success is a team effort, not a solo journey. In cultivating a strong team spirit, you pave the way for shared success and a resilient path to excellence.
Vikram Oza, Director – Finance, Jindal Worldwide
Vikram Oza, the esteemed Director of Finance at Jindal Worldwide, boasts a prolific career shaping financial landscapes. With visionary acumen, he transformed the company's fortunes, guiding it from a modest turnover to exceeding Rs. 2000 Crores. His strategic prowess and commitment to excellence define him as a stalwart in the finance domain.