It has been a long journey of two decades. I joined the organisation (2001) as Global Head-Human Resources, at a time when it was starting its globalisation journey. Only a few employees were there outside India at that moment; about 100 in Russia, six in the US, and about two-three in Europe. I used to go and speak at different places, and built up the company’s reputation. I conducted job offerings globally as well as across India. At least 50 people recruited then and worked in my team in various capacities are today CXOs in different organisations including Dr Reddy’s.
Subsequently in 2004, I took additional responsibility for IT and Business Process Excellence, and in 2006, became the Chief Finance Officer for the first time. Three years later, I became the President, Corporate and Global Generics Operations since I realised at this moment that different parts of our business were working in silos and therefore, it became essential to integrate manufacturing, quality, R&D and regulatory functions. In 2013, I started my second stint as a CFO, looking after the crucial finance function. I have spent maximum time in IT, followed by Finance and HR. But If I were to look at my entire 36-year plus experience, people would know me more as an HR person. I always loved working with people, and for people. But I enjoyed all roles equally well, and can’t single out one.
Most memorable incident was shortly after our betapharm acquisition. The net debt-equity ratio of the company was more than 1.3. My first job as CFO was to raise some risk capital and we preferred to opt for a follow-on ADR offer in 2007 and we successfully raised $232 million. If the company had not done that, then things could have turned problematic as the acquisition did not yield the desired result and recession had come in post that.
Regrets if any - maybe I could have done much more digital transformation in the finance function. We are ahead of our peers on that front, but the potential was certainly much more. I could have used more Machine Learning and Robotic Process Automation in finance.
Also, I could also have done more acquisitions given the healthy balance sheet I had. But we didn’t get enough opportunities.
I would still be fully committed with the company, so in terms of time engagement little changes. But I am focusing these days also on completing my thesis; I am doing a PHD equivalent course from Indian School of Business, it is on dynamic resource allocation. Finishing my thesis will be among my near-term priorities.
After my role as an adviser gets over, I may as well do a bit of mentoring, and teaching, and also write a book on dynamic resource allocation. Engaging with such activities will ensure my mind is stimulated all the time. Other than that I will be spending more time with my grandchildren.