Leaders

Engineering industry, primarily a male-dominated industry, has seen a notable surge of women leaders over the past years. Managing the role of CFO at Shriraam Engineering, Sorna Devi Balasubramanian stands as a trailblazer in this evolving landscape. Commencing her journey in 2011, she navigated diverse roles in retail, information technology, and store setup before becoming a vital force in Shriraam Engineering's growth alongside her husband. Armed with a Post Graduate Certificate from IIM, Indore, and distinctions in MBA and B.E from Anna University, Sorna's financial expertise significantly enhances the company's financial standing.

She played a pivotal role during the pandemic, leveraging digital marketing and diversifying business avenues, resulting in substantial post-COVID growth. Sorna envisions a promising future for women leaders in the traditionally male-dominated engineering sector, encouraging exploration of diverse opportunities. Her journey stands as a testament to resilience, continuous learning, and success amid challenges, making her an inspiring figure for women in engineering. Let’s hear from her.

Can you share your educational background and industry experience, and elaborate on your expertise as a business leader in the Indian engineering sector?

I hold a Post Graduate Certificate in Emerging CFO from IIM, Indore, and have distinctions in both my MBA (Marketing and Production) and B.E (Computer Science) from Anna University. This, coupled with prior experience, positions me to contribute significantly to Shriraam Engineering's financial growth. My expertise lies in analyzing financial reports for early detection of mismanagement, enabling timely corrective measures and substantial cost savings. As a business leader, I prioritize financial management, emphasizing its pivotal role in entrepreneurial success. With skills in financial planning, forecasting, budgeting, and effective fund management, I am dedicated to ensuring sound financial strategies for the sustained success of Shriraam Engineering.

Describe the expertise you've cultivated as a business leader within India's engineering industry.

I believe an entrepreneur's failure doesn't solely stem from inadequate revenues or other organizational aspects, but rather from their handling of finances. Cash flow serves as the lifeblood of any business, and mishandling funds can lead to a downfall. Therefore, my expertise lies in financial management, encompassing financial planning, forecasting, budgeting, efficient fund management, and cost control.

Provide an overview of Shriram Engineering and outline the diverse responsibilities you undertake in your role as the company's Chief Financial Officer.

Shriraam Engineering is a leading player in the Indian Salt Industry, driving technological advancements and collaborating with governmental bodies, NGOs, and salt partners. Our focus is on providing uninterrupted service for efficient salt production and processing, offering customized holistic salt plants and refinery machines worldwide. Pioneering innovative machinery, we cover processes such as production, washing, and refining. With projects tailored to global clients, we've installed salt plants in over 25 countries, fostering self-sufficiency in salt production. In the organization's early stages, I played a hands-on role, overseeing tasks from lead generation to statutory compliance. As Chief Financial Officer, I now steer financial decisions, compliance tracking, cost control, accounting, and overall financial management, ensuring adherence to policies and regulations.

What, in your view, are the primary challenges you face in your current position? How do you navigate and overcome these obstacles?

The most significant challenge in my financial role is effective working capital management, ensuring seamless day-to-day operations without funding bottlenecks. Striking an optimal balance between receivables and payables time periods is crucial to avoid falling into the debtors or creditors trap, preventing a prolonged negative cash flow. Drawing from my banking background, I'm aware that many entrepreneurs divert short-term funds to long-term assets, leading to mismatched liabilities. To safeguard against becoming a non-performing asset and avoiding default, I prioritize financial decisions that contribute to the company's progress. Being an exporter involves extensive documentation, necessitating constant awareness of government-supported export schemes to navigate this aspect of our business successfully.

Share with us the most notable milestone you've reached in your professional journey thus far.

Every business encounters challenges, especially during the global impact of Covid-19. The engineering sector faced disruptions in production, raw material procurement, and international travel. To adapt, we intensified digital marketing, strengthening our global presence. Despite these hurdles, timely payments and exploring new business avenues fostered exponential post-pandemic growth. As a female leader in engineering handling diverse overseas clients poses challenges due to cultural differences.

How do you foresee the growth of women-led businesses in India, and what advice would you offer aspiring women entrepreneurs/business leaders?

In an industry once deemed male-dominated, engineering now sees a surge in women leaders, particularly with advancements in information technology. Beyond traditional roles, women contribute to diverse areas like design, research, marketing, and finance, showcasing ample opportunities in the engineering sector today. Post the successful Chandrayan moon mission, global trust in Indian technology has surged, creating significant prospects. Women entrepreneurs can explore this evergreen industry, taking initial steps and growing over time. Facing uncertainties with calm optimism, developing problem-solving skills, and embracing failures as learning experiences are keys to success.

Sorna Devi Balasubramanian, CFO, Shriram Engineering

Sorna Devi Balasubramanian, CFO at Shriram Engineering, blends retail expertise with a strong financial acumen. MBA and BE holder, she navigates challenges, thrives in crises, and envisions a dynamic future for women in engineering. Inspired by Sudha Murthy, she advises aspiring entrepreneurs to embrace opportunities in the evergreen engineering sector.