Vice President of Finance
Piramal Enterprises Limited (PEL) is one of India's large diversified companies, with a presence in Healthcare, Healthcare Information Management and Financial Services. PEL's consolidated revenues were around $ 1 billion in FY2016, with 61% of revenues from outside India. In healthcare, PEL is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India. PEL's healthcare information management business, Decision Resources Group, is amongst the top 20 US market research organizations which provide information services to the healthcare industry. In financial services, PEL, through its Piramal Fund Management Division, provides comprehensive financing solutions to real estate companies. The Structured Investment Group ("SIG") provides long term patient mezzanine growth capital to capital intensive businesses which are an integral part of India's growth story. The total funds under management under these businesses are $ 3.3 billion. The Company also has strategic alliances with top global pension funds like CPPIB Credit Investment Inc. and APG Asset Management. PEL also has long term equity investments worth over $ 700 million in Shriram Group, a leading financial conglomerate in India. PEL is listed on the BSE Ltd. and the National Stock Exchange of India Ltd.
Mahesh is an innovation driven finance professional who is focused on liquidity and capital productivity throughout his career. His career spans over 30 years of experience in the field of business finance, including 10 years of business CFO experience in global business. He worked in diverse industries such as pharmaceuticals, textiles, food processing, steel and chemicals. Mahesh began his career post qualifying in Cost Accounting and worked through various companies in India building his skills by partnering with business leaders to navigate through situations of business turnarounds, drawing and executing long term growth plans. During this journey, he acquired technology skills that enabled him to drive productivity and follow data driven approach to decision making in a complex business environment. In 2000, Bombay Dyeing, the textile industry leader of India was going through rapid but poorly managed growth situation. Mahesh was moved to the role of streamlining accounting, establishing financial controls and overcoming the liquidity crisis. He quickly proved his ability to take control of the situation, re-structured the accounting process, set performance metrics and brought back liquidity situation through debt collection and inventory control. In 2007, Mahesh acquired another qualification in accounting. This became a turning point in his career as he obtained refreshed knowledge of IFRS, financial strategies and business partnering. Same Year, Mahesh joined Vitamin business of Piramal Healthcare and quickly focused on business growth, improving business EBITDA from 9% to 19% within one year of his association. In 2010, Piramal offered Mahesh, business CFO role,Critical care division to navigate through growth targets of newly acquired business in the United States. Since then, Mahesh partnered with business leadership to report profitable growth of CAGR 20% over 10 year period. Mahesh is deeply involved in operations of the business. He is co-leading project on integration of global products acquisition as well as partnering with leadership team in evaluating multiple M&A opportunities. In parallel, Mahesh played an important role in setting up and operationalizing business infrastructure in Europe, South Africa and other new geographies. With his focus on liquidity, Mahesh was able to raise funds for the business through multiple innovative equipment finance structures. He has built relationships with lenders and successfully signed a credit facility of $180 million in 2019 with a syndicate of banks in the United States.