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Shri siddharth Mishra Essay
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Nov 26th, 2019

Shri siddharth Mishra Essay

Shri siddharth Mishra -Chairman and Managing DirectorCommodore Siddharth Mishra (Retd) has assumed charge today, as the Chairman and Managing Director of Bharat Dynamics Limited (BDL), a Miniratna Category – 1 PSU under the Ministry of Defence, Govt. of India. He succeeds Shri V. Udaya Bhaskar who has retired on 28 Feb 2019, on attaining superannuation. Commodore Mishra was commissioned in the Electrical Branch of Indian Navy in the year 1985. Post-retirement from Navy in Sep 2016, Commodore Mishra served ECIL, a Schedule A Central Public Sector Enterprise.

Prior to joining BDL, he was General Manager (Defence) at ECIL, Hyderabad.—Џ Shri V Gurudatta Prasad – Director (Production)He joined the board on 10th September 2015. Prior to his appointment as Director(Production), he served as General Manager at BDL Bhanur in the capacity of Unit Head. An M.Tech in Industrial Engineering & Management from JNTU, Hyderabad, he did his BE in Mechanical Engineering from Bangalore University.—Џ Shri. Ashwani Kumar Mahajan -Government Director.He joined the board on 8th january,2016. He belongs to the batch of 1988 IRS.

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He is also MBBS, LLB, LLM (International Taxation). He was appointed as Addi.FA &JS in the Ministry of Defence (Fin) on 8 Jan 2016. Shri Ashwani Kumar Mahajan is appointed as Government Nominee Director on the Board of BDL w.e.f. 9 March 2016.—Џ Shri N P Divakar -Director (Technical) N P Diwakar, is the Director (Technical) of Bharat Dynamics Limited, a Miniratna Category – 1 Public Sector Undertaking under the Ministry of Defence, Govt. of India. A Mechanical Engineer from Osmania University, Shri Diwakar holds a rich experience, spanning over 28 years, in various areas of Missile Production. Prior to his new appointment, Shri Diwakar has served as Executive Director in Bhanur Unit of BDL where he has played a key role in establishing standards set for the production of Konkurs ” M & Invar Anti -Tank Guided Missiles and Unified Launchers ensuring safe operations with an objective of reaching set targets—Џ Shri S Piramanayagam -Director (Finance) & CFO He joined the board on 1st January 2015. He is a Science Graduate and an Associate Member of the Institute of Chartered Accountants of India. Prior to joining BDL as Director (Finance), he worked as General Manager handling finance functions of Rail & Metro Business vertical of M/s. BEML Limited.—Џ Smt Sushama V Dabak – Independent DirectorShe joined the board on 1st December, 2015. She Joined Indian Audit & Accounts Service (IA&AS) in 1981 and held various posts including Principal Accountant General, Haryana, Accountant General, Rajasthan and Maharashtra. She did her MA in Economics, LLB and Diploma in Financial Management from University of Mumbai. She has Audit experience of all three tiers of Government viz Central, State and Local and different forms of Government organisations viz GovernmentCompanies, Autonomous Bodies and Local Bodies covering various sectors of the economy. —Џ Prof. Ajay Pandey -Independent DirectorHe joined the board on 1st December,2015. He is currently with IIM, Ahmedabad as Professor of Finance& Accounting. He graduated as an Industrial Engineer from University of Roorkee. He has been a consultant to the Government, Regulators and PSUs on infrastructure related issues. He has also been involved in academic administration as Chair, Post-Graduate Program (PGP), Dean [Faculty), Dean [Programs) and Director-incharge at IIM, Ahmedabad.—Џ Shri. Ajay Nath -Independent DirectorHe joined the board on 13th September,2017. He is a member of the Indian Administrative Service (IAS) of the 1982 batch belonging to the Madhya Pradesh Cadre. He holds a bachelor and masters’ degree in Economics from the University of Delhi. He has worked as Principal Secretary and later as Additional Chief Secretary in the Finance Department of the Government of Madhya Pradesh from September 2011 to September 2015.—Џ Shri K S Sampath -Independent DirectorHe joined the board on 13th September, 2017. He is a Chartered Accountant in practice, having 32 years of professional exposure in Income Tax, Corporate Laws, Banking (Treasury, Forex including Due Diligence of Foreign Banks), Insurance and specialisation in improving Corporate Governance.—Џ Smt. Latha Narasimha murthy -Independent Director She joined the board on 13th September,2017. She is currently the Managing Partner of Melange Prime Properties and Managing Partner at Toy Patnam. She has completed the MIT Global Entrepreneurship Boot camp and has been awarded certification on New Ventures Leadership from the Massachusetts Institute of Technology. She holds a post-graduate degree in Public Policy from the Takshashila Institution. Sections of Finance Division In BDL Finance division of BDL is operated under following sections:® Cash Section® Payroll Section.® Books Section.® Finance Section.® Bills payable Section.® Bills receivable Section.® Internal Audit Section.® Material Accounts and Costing Section.® Audit Section.CASH SECTION:This section is responsible for all receipts and payments of cash/cheques and other instruments; it maintains cash/bank books.PAYROLL SECTION :This section deals with salaries and wages of executives and non-executives and stipends of trainees and apprentices. This section also deals with bills of daily rated employees (casual workers).BILLS PAYABLE SECTION :This section deals with payments to suppliers. This section is responsible for® Payment & accounting of advances.® Payment & accounting of final bills.® Adjustment & recovery of advances.® Deduction/recovery and payment of statutory liabilities.BILLS RECIEVABLE SECTION :This section is responsible for preparation and submission of invoice to customer. Also,® Scrutiny of sales orders.® Preparation of invoices.® Reconciliation of customer accounts.® Accounting for sales and receipts thereon.® Accounting of sundry receipts from employers, township, hostels shopping complex, ancillary sheds, canteen etc..,COSTING & MATERIAL ACCOUNTING SECTION :The main functions of this section include:® Valuation of material consumption and all other types of issues.® Maintenance of material transaction ledger (MTL) & cost ledger.® Valuation of Inhouse manufactured components.® Quantity reconciliation of bin card balance with MTL.® Analysis of cost variations.® Assisting in decision making based on costs involved.® Scrutiny of slow, non-moving redundant inventories. FINANCE SECTION : The main functions of this section include:® Certification of availability of funds both for capital and revenue expenditure with reference to approved capital budget and performance budget for year.® Fixing of rent for premises given to employees/others.® Fixation of recovery rates in respect of services rendered, supplies made disposal of company assets.® Generally, proposals in respect of following items are concerned in finance sections.® Purpose of capital items/ materials/ stores & spares/ tools and other services. All cases relating to relaxation of rules.® Contracts entered into with suppliers/collaborators/ sub-contractors.® Sale, lease (or) alienation of company property, project report etc.INTERNAL AUDIT SECTION :The internal audit section has been formed to serve the management in financial and other operations the functions of internal audit are as follows:® Carry out the system study/ review. It involves in-depth examination of various elements, sub systems, procedures etc.,® Compliance audit(procedure, rules & statutory regulations)® Transaction audit. It involves verifying vouchers and attesting correctness of entries in transaction/documents/ vouchers and checking of authority & accounting classification like account head no, work order no. etc.® Physical verification of assets(fixed assets, stores, cash vehicles etc..,® Conduct pre audit checks. It includes final settlements of contractors, supplier, and pay fixation & pay anomaly cases of all employees / officers.Financial Accounting systems of BDL—Џ General Accounts—Џ Cost and Material accounting—Џ Fixed assests and Capital work n process—Џ Budgeting.2. Introduction to Financial statement Analysis Financial statement analysis is the process of analyzing a company’s financial statements for decision-making purposes and to understand the overall health of an organization. Financial statements record financial data, which must be evaluated through financial statement analysis to become more useful to investors, shareholders, managers, and other interested parties. The purpose of financial statement analysis is to examine past and current financial data so that a company’s performance and financial position can be

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