Bharat Heavy Electricals Limited on Friday informed that Jai Prakash Srivastava, Director R&D with additional charge of Director Finance has been designated as Chief Financial Officer of the company, the company announced through an exchange filing.
Jai Prakash Srivastava, Director (Engineering, Research & Development) and Board Member, Bharat Heavy Electricals Limited (BHEL) also holds the additional charge of Director (Finance), BHEL. Shri Srivastava is a 1985 batch Mechanical Engineering graduate from IIT Roorkee (erstwhile University of Roorkee) with a postgraduate degree in Business Administration. Shri Srivastava has subsequently also undergone an Advanced Management Programme from IIM, Calcutta.
Srivastava joined BHEL in 1985 as Engineer Trainee at Insulator Plant, Jagdishpur. He has about 38 years of diverse and extensive experience across all major functions viz. Planning & Development, Marketing & Business Development, Technology Management, Project Management, Project Finance & Control, Capital & Revenue Budgeting, Receivables Management, Financial Forecasting & Planning, Production, Procurements, Quality, Engineering, R&D, Cost Optimisation, Human Resource Management, Legal, Digitalization, Strategic & Stakeholder Management in various capacities across almost all product lines of BHEL while overseeing financial operations of units of FSIP Jagdishpur, CFP Rudrapur, HPVP Vizag & Corp R&D Hyderabad, Business sectors of Industry & International Operations including over two-year stint in the Apex office as Strategic Adviser to CMD, BHEL.
During his tenure as Strategic Adviser to CMD BHEL and later as Head of Manufacturing Unit(s) & Business sector (s), he has acquired all the requisite competencies related to apex level finance responsibility through CEO & CFO Certificate, Directors Responsibilities statement, Board Report, Reviewing & scrutinising Financial Statements and finalising Management Discussion and Analysis, knowledge of Financial systems & procedures to put in place financial frameworks for Liquidation of Receivables, Inventory Optimisation etc. to ensure liquidity in functions and enable achievement of deliverables.
Previously as Executive Director & Head of Unit – Industry sector, he had been instrumental in driving financial performance of several Industry sector businesses with his focussed approach of cash-centric project execution to achieve record collections. Also, earlier as Head of one of the Manufacturing Units of BHEL, his extensive efforts in maximising financial performance through strict budgetary controls, improved turnover realisation and profit maximisation, resulted in achievement of Best-in-Last-5 years’ Financial results for the unit.
Srivastava, as Director (Engineering, Research & Development) on the Board of BHEL, has been leading company-wide capability building initiatives in new growth areas such as Defence & Aerospace, Railway Transportation, etc. while driving new product developments in Hydrogen economy, Coal to Chemicals, products of National Importance such as Advanced Propulsion, Marine GTs, Small Modular Reactor, etc. as well as establishment of National facilities and Centres of Excellences.
He is also driving innovative revenue models across the company leveraging company’s core competencies by offering Engineering as a Service (EaaS), OEM Model, JV Model, Inventory conversion to FG with in-house value addition, Sales through Digital Platform (Seller on GeM portal), for catalysing growth trajectory of the company.
He has been responsible for various initiatives resulting into " Many Firsts Achievements" throughout his career history. His wide exposure across BHEL operations has enriched him with a strong acumen to analyse market trends & develop market-ready capabilities and has enabled him to contribute effectively in formulation & implementation of strategies in the changing business environment & put BHEL on the path of sustainable growth.
