News & Events
Mr. Mahesh Kalmane – CFO, Netafim India has been honored with the prestigious CFO100 Award under the category ‘Winning Edge’ in Raising Capital/Fund Management.
The CFO100 is an annual initiative to recognize India’s finance leader’s extraordinary contributions to the corporate world and is an annual benchmark for rising stars among India’s CFOs .This event provides a great opportunity to recognize contributions made by the leading CFOs in India and an endeavor to develop a vibrant CFO community.
Mr. Mahesh Kalmane is the Chief Financial Officer (CFO) of Netafim India and is responsible for providing strategic direction to company’s financial and economic activities. He is an MBA from Newport University, California and has an exemplary experience for more than 2 decades in the financial, fiscal and corporate value enhancement. Prior to Netafim India, he was CFO of a multinational company, Ciba Speciality Chemicals (Ciba India Ltd.) for the last 17 years and has experience of working with Kabra Group (Extrusions), Phillips India Ltd., Bharat Bijlee Ltd.,etc.
The Micro Irrigation Systems (MIS) business is marked by large working capital requirements, as sales receivables tend to remain at high levels since the release of subsidies from Government, on an average, takes 180-200 days after the installations of the systems. Moreover, Netafim is required to maintain inventory for 40 to 50 days; although this is partially funded by payables, especially extended credit periods provided by parent on emitter and valve supplies. To curtail the working capital cycle, the Company has re-structured the traditional financial arrangements and has introduced new financial arrangements like Accounts Receivable Securitisation Facility and LC backed Vendor Financing Facility.