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BW Businessworld

Leadership Mantras Made A Difference

Indofil Industries CFO believes leadership support was critical in driving change and digital transformation

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Rajib Mukhopadhyay, CFO Indofil Industries says the company’s financial performance in FY 2021 was among the best in the last few years, notwithstanding a raging pandemic. The better financial results set off ripple effects and reinforced better financial backing for further operations.

Efforts to manage the liquidity position included repayment of loans, improving the DSO and DIO with stretched DPO without disrupting the supply chain. The company also saw a change in leadership and management during March/April 2020, which triggered a dynamic shift in approach and set off a domino of changes for the role of the CFO and the attitude towards risk management.The organizational teams too remained steadfast in achieving company objectives, irrespective of the uncertainty brought on by the pandemic. This attitude, coupled with the support from the top executive leadership, helped the company adapt to the changing environment.

Mukhopadhyay pinpoints the key areas of development that helped him emerge as the Best CFO in a Medium Enterprise in the BW Businessworld Best CFO Awards 2021. “Cashflow Management was the focus area, reduction of debt was next, it is only possible when NWC improves. In both these parameters, Indofil’s performance was outstanding and much better than that of peer companies during FY 2021,” he says.

Indofil Industries is an integrated chemical company headquartered in Mumbai. The company is  part of Modi Enterprises and has been in the agro and speciality chemical business for the last four decades. “The pandemic taught us many lessons,” says Rajib Mukhopadhyay. “Being in the medium enterprises’ sector with a revenue of over Rs 2,400 crore, from Day Zero of FY 2021 cost optimization via project ‘War on Waste’ was undertaken, which can also be seen in the bottomline of the company.”Mukhopadhyay is a finance professional with almost 23 years of experience. He excels in business planning, financial planning and analysis, deal evaluation and negotiation, business development, financial and marketing controls, human resources management, operations analysis, capital fundraising for startups and existing companies and handling investors, among other specialities. Mukhopadhyay is known for his expertise in turning around organizations financially and operationally. He counts his analytical skills, communication ability and the capacity to craft effective partnerships with creative, professionals and administrative personnel as his strengths. He says he can understand and work across platforms like manufacturing, media, IT, consultancy, audit and also partner with marketing and technology executives to produce optimal results for the organization.Indofil has an export presence in more than 120 countries as the supplier of Mancozeb formulations. In India, Indofil is successful in strategic marketing of insecticides including IGR’s, Fungicides (Mancozeb, Tricyclazole, Zineb etc.), Bactericides, Herbicides, Acaricides, Surfactants, and Plant Growth Regulators (PGR). Maintaining customer care as its mantra, the company hopes to ensure consistent behaviour to drive trust and partnerships that accelerate growth and maximise business potential.