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Tag: chief financial officer

  • TenderCuts strengthens leadership team with key appointments

    TenderCuts strengthens leadership team with key appointments

    Mumbai: Homegrown omnichannel meat and seafood retail brand TenderCuts has roped in industry experts to lead important verticals of marketing and finance. The company on Monday announced the appointment of Aruna Jathar as chief marketing officer (CMO) and Satya Rakesh as chief financial officer (CFO).

    Jathar is a seasoned marketing professional with over 20 years of experience in brand building and creating innovative marketing strategies across telecommunication, consumer durables, FMCG and retail sectors with an in-depth data-driven application. She has led customer and marketing strategies, brand, digital, content, and CRM initiatives in multinationals across India, UK, and the Asia Pacific region.

    Prior to TenderCuts, she served in key roles at Wyndham Destinations (RCI), Dell Technologies, Metro Cash and Carry, and Airtel. Her area of competence includes branding, marketing, communication, CRM, customer experience, and digital demand framework. She has worked extensively in the areas of direct marketing and loyalty in London, UK.

    Rakesh is a CA and company secretary who comes to TenderCuts with over 12 years of experience across various functions of finance in the consumer and retail space. He has a rich knowledge and expertise in financial strategy and planning, accounting and audit, fundraise, and investor relations.

    Prior to joining TenderCuts, he has worked in Aditya Birla Group, Arvind Fashions and Medplus Pharma, where he has handled multiple roles including driving profitability, setting up of new businesses and functional teams, business restructuring, and investor management.

  • Cashfree appoints Vikas Guru as chief financial officer

    Cashfree appoints Vikas Guru as chief financial officer

    Mumbai: Digital payments and banking technology company Cashfree has announced the appointment of Vikas Guru as its chief financial officer, to fuel the next phase of its growth.

    Guru will be responsible for bringing a new level of insight, requisite experience, and strategy to drive the change and build an agile finance function at Cashfree. He will oversee operations, reporting, governance, investor relationships, and management information system. He will also play an active business partnering role within the leadership team to ensure both top and bottom-line targets are met and continuously exceeded, the company said in a statement.

    “As Cashfree embarks on the next phase of growth, we are seeking out accomplished professionals who share our values and work ethics,” said Cashfree CEO & co-founder, Akash Sinha. “We are pleased to welcome Vikas Guru, at a critical juncture of the Cashfree journey. Vikas brings with him extensive experience in conceptualizing and implementing financial processes which are essential for an aggressively growing company like Cashfree. He has led teams across diverse industries and spearheaded finance operations in growth-centric organisations. We are confident that Vikas’s in-depth knowledge of financial planning and analysis, mergers and acquisitions, and corporate development will be invaluable as we continue on our journey to becoming one of the largest players, globally.”

    Guru comes with two decades of experience across sectors such as financial services, retail, banking, and real estate. In a decade-long stint at FINO PayTech Ltd, he led the organisation to achieve scale and profitability. He was featured in the CFONEXT100 as a financial controller.

    “This is an exciting time for Cashfree, and I am happy to join a team of extremely talented people fueling India’s next big story in banking technology and digital payments,” Guru said. “With innovation at its core, Cashfree is one of the fastest-growing fintechs in the country and I am sure that we will continue to create products and services which will benefit the entire ecosystem. I am looking forward to working with the team here in executing its strategic growth plans in India as well as in international markets. Together, we remain optimistic to capture the next wave of growth in the Cashfree journey.”

  • Aim to reach 70- 80% revenue in July: Cantabil’s Shivendra Nigam

    Aim to reach 70- 80% revenue in July: Cantabil’s Shivendra Nigam

    NEW DELHI: The apparel industry was one of the hard-hit ones as e-commerce halted and people were locked at home and in no need for new clothes. Now, brands are aggressively pushing to get back consumers to stores and re-build consumer sentiments. Indiantelevision.com had a fireside chat with Cantabil Retail India Ltd chief financial officer Shivendra Nigam. The session was moderated by Indiantelevision.com senior reporter Dolly Mahayan.

    Fashion apparel brand Cantabil has a network of around 260+ exclusive retail outlets in 16 states across the country. With a manufacturing plant in Haryana, it produces 10 lakh pieces of garments per annum.

    Shivendra said, “Lockdown came at a time when all our merchandise of the summer season was on the shelf at all the stores. We did not face any distribution channel. When the lockdown was imposed all the products were hit at the stores for the sale. As per our plans, we always keep 90-120 days ahead of inventory.”

    On the financial front, he said, “Comparing this year Q1 revenue to last year Q1 revenue will be unjustified. For Cantabil, there was no revenue in the month of April, but in May, revenue started coming as unlock 1.0 began. Even in June, we are slightly above the expectations, not even 100 per cent.”

    He shared that the inventory cycle for from production to reaching the shelf is done in five to six months. The company has started production for the winter season now.

    As public gatherings and parties will not be taking place in the near future, Nigam shared that Cantabil has seen a category shift. “Consumers are more interested in buying casual wear as compare to formal clothes. The revenue has been generated in a very good amount for the company. We have clocked 50 per cent revenue from the full season and our aim is to reach at least around 70-80 per cent revenue in July.”

    The company last year announced that it is adding 100 new outlets. Nigam said, “We are not going to open many stores since all our plans have been extended for one more year. Second half will see mainly expansion on the franchise side rather than company model. Things are likely to get back on track by next year.”

    Nigam added, “We are not only focusing on tier I expansion but tier II and tier III markets as well. 60 per cent of sales are coming from this market, and we are hopeful it will contribute in the same manner. But, there are chances tier I will shift for one more quarter in terms of getting the sales back.”

    Since its inception, Cantabil’s USP is men’s wear, but gradually women’s category is contributing well in the overall business revenue and it recently launched kids’ section too. “We are trying to become a complete family wear brand. Though the formal share is always very high and 60 per cent revenue comes from there," revealed Nigam.

    It recently announced its entry in the e-commerce space as well. Nigam said that the company is hoping to get 10-15 per cent revenue coming from this channel by next year.

    While the company has been known to provide deep discounts, it is attempting to keep that just for the festive season now. Nigam said, “40-45 per cent discounts for the festive season is for every year, but what’s important is to maintain a balance between the online and offline stores in terms of discounts. We can’t deplete by giving more discount online and damaging our own physical retail stores. Striking a balance is very important. There are no changes in our business plans, just a few things have been extended.” He also added that diwali is going to be a big celebration not only for businesses but for the economy as well.

    In the concluding remark, Nigam disclosed that the company will soon rope in a new face for the brand. It was supposed to be done this year but the pandemic has pushed that further.

  • Siti Networks appoints Sanjay Berry as CFO

    Siti Networks appoints Sanjay Berry as CFO

    MUMBAI: Siti Networks Ltd, a sister company of Zee group, has appointed Sanjay Berry as the chief financial officer of the company.

    The new CFO Berry was working as the corporate financial controller with Bharti Enterprises. Berry has been handling finance function with expertise in financial management, compliance and internal controls. In his 25 years of work life, he had varied experience with Computer Sciences Corporation, Bharti Airtel, Patni Computer Systems, HCL Technologies and Arthur Andersen & Associates.

    Siti Networks got its new sobriquet earlier this year. Prior to this it was known as Siti Cable Network Ltd.

    It has gained respect from the cable community and is reputed to have a robust business model. In August this year, got board approval to raise up to $100 million through the issuance of securities.

    Siti Networks has chalked up improved financials in its latest quarter financials. It reported a 23.6 percent and 2.9 percent year-over-year (y-o-y) growth in operating revenue and EBIDTA including other income for the quarter ended 30 September 2106 (Q2-17, current quarter). The growth in revenue was led by a 33.3 percent y-o-y growth in restated subscription revenue on net billing basis of Rs 135.3 crore (46.8 percent of Total Income from Operations or TIO) as compared to Rs 101.5 crore (43.4 percent of TIO) reported for the corresponding year ago quarter.

    The company’s cable TV customer base was stable at 1.22 crore in the current quarter as compared to the immediate trailing quarter. The company had 1.07 crore cable customers in Q2-16. The company says that is now present in 400 plus locations in India serving a total digital subscriber base of 87 lakh customers. For the last quarter the company had reported a digital subscriber base of 84 lakh and 59 lakh for Q2-16.

    Broadband revenue increased 167.7 percent y-o-y to Rs 24.9 crore (8.6 percent of TIO) in the current quarter from Rs 9.3 crore (4 percent of TIO) in Q2-16.

    By bringing in Berry who has a telecom background Siti Networks has indicated that its focus on the broadband sector is likely to increase as well that it is working on putting in place more rigorous financial processes in its operations.

  • Siti Networks appoints Sanjay Berry as CFO

    Siti Networks appoints Sanjay Berry as CFO

    MUMBAI: Siti Networks Ltd, a sister company of Zee group, has appointed Sanjay Berry as the chief financial officer of the company.

    The new CFO Berry was working as the corporate financial controller with Bharti Enterprises. Berry has been handling finance function with expertise in financial management, compliance and internal controls. In his 25 years of work life, he had varied experience with Computer Sciences Corporation, Bharti Airtel, Patni Computer Systems, HCL Technologies and Arthur Andersen & Associates.

    Siti Networks got its new sobriquet earlier this year. Prior to this it was known as Siti Cable Network Ltd.

    It has gained respect from the cable community and is reputed to have a robust business model. In August this year, got board approval to raise up to $100 million through the issuance of securities.

    Siti Networks has chalked up improved financials in its latest quarter financials. It reported a 23.6 percent and 2.9 percent year-over-year (y-o-y) growth in operating revenue and EBIDTA including other income for the quarter ended 30 September 2106 (Q2-17, current quarter). The growth in revenue was led by a 33.3 percent y-o-y growth in restated subscription revenue on net billing basis of Rs 135.3 crore (46.8 percent of Total Income from Operations or TIO) as compared to Rs 101.5 crore (43.4 percent of TIO) reported for the corresponding year ago quarter.

    The company’s cable TV customer base was stable at 1.22 crore in the current quarter as compared to the immediate trailing quarter. The company had 1.07 crore cable customers in Q2-16. The company says that is now present in 400 plus locations in India serving a total digital subscriber base of 87 lakh customers. For the last quarter the company had reported a digital subscriber base of 84 lakh and 59 lakh for Q2-16.

    Broadband revenue increased 167.7 percent y-o-y to Rs 24.9 crore (8.6 percent of TIO) in the current quarter from Rs 9.3 crore (4 percent of TIO) in Q2-16.

    By bringing in Berry who has a telecom background Siti Networks has indicated that its focus on the broadband sector is likely to increase as well that it is working on putting in place more rigorous financial processes in its operations.

  • Snapdeal names Aircel’s Anup Vikal as CFO

    Snapdeal names Aircel’s Anup Vikal as CFO

    MUMBAI: Snapdeal has appointed Anup Vikal as the chief financial officer (CFO).

     

    A seasoned finance professional Vikal brings over 23 years of experience in finance, strategy and corporate governance across multiple industry sectors.

     

    Prior to his appointment at Snapdeal, he served as CFO at Aircel, where he was responsible for building business through revenue growth, implementing massive cost optimisation, restructuring of debt and capital, improving the Credit Rating of the company as well as interfacing with the government, TRAI and other authorities. 

     

    Before joining Aircel, Vikal was the group CFO and head of strategy and IT at InterGlobe Enterprises. Earlier, he also served as director and head of finance shared services for Colt Technology for three years and Bharti Airtel where he headed the finance division for close to seven years.

     

    Snapdeal co-founder and CEO Kunal Bahl said, “We are very excited to have Anup on-board. His wealth of experience in building and executing the financial infrastructure in companies across complex large organisations in the country will further strengthen our leadership team.”

     

    Vikal added, “In the last few years, Snapdeal has emerged as a leader within the e-commerce and tech space and I look forward to joining the young and energetic Snapdeal family. E-commerce is a dynamic and interesting space to work with and my focus will be to ensure we are financially well positioned yet nimble so that we can continue to create value for our customers, sellers, investors and employees.”

     

    He will be based out of Snapdeal’s Gurgaon office.