Abhishek Vats

Experience

• 

  North Delhi Power Limited

  Apr 2003 - Apr 2008

  Manager - Revenue Assurance

   Adjudged one of the best four Management Trainees out of the first batch of 28 trainees. Lead a 6 member team comprising of Chartered Accountants and Cost & Work Accountants for managing the following functions:Revenue Protection & Assurance: Preparation of Revenue MIS, Variance Analysis, Billing & Collection Analysis, Funds Management, Treasury function (investment of surplus in Mutual Funds), monitoring franchisee operations and conducting revenue audits.- Revenue Accounting: Preparation of monthly sales reports, booking revenue and collections in financial books, debtors’ scrutiny & reconciliations and checking of reports for payments to various Govt. Agencies. Member of the Enforcement Settlement Committee with a DOP to settle cases up to Rs 2 Lacs and recommend cases involving amount worth Rs 2 Lacs to Rs 50 Lacs to top management. Core member of the System Analysis and Enhancement Team for testing and implementing revenue related software system. Holds the distinction of independently designing the accounting module of the new billing software “Sambandh” and its integration with SAP. Show less

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  Al-Futtaim Engineering, Electronics & Technologies

  Apr 2008 - May 2011

  FINANCIAL CONTROLLER

  Financial Planning, MIS, Budgeting, Financial Accounts, system development and strengething internal controls. Independently handling Finance division of one of the SBU of Al Futtaim group:Budgetary control and performance reporting: Preparation of annual budget, periodic forecasting and business review and presentation to Group Director, Monthly closure of Accounts, month end review of sales- project wise and service module, close monitoring of cash flow, month end MIS reporting with detailed variance analysis, process formulation and improvement, Principal accounts recons, bank guarantees tracking Preparing and evaluating feasibility study for Joint venture between Hitachi Asia Limited with Al Futtaim Group.Ensuring financial integrity and reliability, reviewing and strengthening business internal controls and procedures, implementation of DOA, SAP improvement and modification.Working capital review and reporting e.g. AR and stock position, ensuring adherence of management policies and processes, reviewing and formulating incentive policies and calculation.Closure of annual accounts and maintaining and reporting division wise profitability. Show less

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  National Heaters Industries

  May 2011 - May 2019

  Financial Controller

  Demonstrated business acumen in managing overall Finance & Accounts operations, effectively discharging the functions and achieving higher rate of organic growth. Turnaround a loss making SBU into a sustainable & profitable growth company. Responsible for overall Finance & Accounts function of National Heaters Industries, one of the largest manufacturer of Water Heaters and Cable Trays & Trunking in Oman and part of Omzest Group Of Companies.Conceptualizing and implementing financial procedures and actively involved in the maintenance & finalization of accounts, Cost Control, Audits, Sales review, Working Capital Management, Monthly and annual closure of Accounts, Preparation of MIS reports, quarterly review presentation, annual Budget etc. to abreast Owners / top management on financial performance and business environment and market updates, Directly negotiating with banks for securing appropriate credit facilities and financing at optimum rate, funds management optimum Procurement, Material planning and Direct negotiation with principal vendors, Profit forecasting & Monitoring and building internal financial controls. Adept at development of financial policies, system study and control evaluation. Implementing the system enhancement and automation to improve controls. Show less

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  Al Futtaim Electronics

  Dec 2019 - Mar 2021

  Sr. MIS Manager and Financial Controller - LEET
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  Kanoo Industrial & Energy, Bahrain

  Mar 2021 - now

  • Chief Financial Officer

    Mar 2023 - now

  • Head Of Finance

    Mar 2021 - Mar 2023