The iron and steel products industry is a cornerstone of the global economy, serving as the backbone for infrastructure development, manufacturing, and various other sectors. Within this pivotal industry, Deepak Saraf stands as an industry leader, contributing significantly to its growth and prosperity. Currently serving as the Chief Financial Officer of Jaideep Ispat and Alloys (Moira Sariya), Deepak Saraf brings a wealth of expertise to the table.
He graduated in Commerce from Mumbai University and is a proud member of the Institute of Chartered Accountants of India (ICAI) and had worked with Deloitte upto 2013, with an impressive post-qualification experience spanning 20 years. His primary areas of focus encompass Accounts, Finance, Taxation and Management Information Systems (MIS).
Notably, Deepak has played a pivotal role in the successful financial transformation with implementation of ERP systems and use of Artificial Intelligence (AI) within his Company, a testament to his commitment to driving innovation and efficiency within the iron and the steel industry. Under his leadership, the Company has undoubtedly witnessed transformative growth in finance, further solidifying its position as a prominent player in the sector. Let’s hear more from him.
What are the fundamental principles you as a CFO consistently adhere to in order to promote the Company's success and serve as a role model for employees and industry peers?
As CFO, me and my team’s top priority is maintaining financial integrity and smoother financial Operations. To achieve this, I always prioritize principles such as trust, transparency, ethical conduct, and strict adherence to relevant financial regulations and accounting standards, both in their letter and spirit. Well planned execution capabilities, embracing change with open arms, resilience, prioritizing the interests of all our stakeholders, ensuring that everyone associated with our Company grows with integrity are the fundamental principles as a CFO I consistently adhere to. The role of a CFO is as vital to an organization as blood is to the body, and I am fully aware about this responsibility entrusted on my shoulders. I engage in activities that yield long- term benefits, even if it means sacrificing short-term gains.
How is the role of the CFO evolving in the modern digital era?
Today's CFOs play a dynamic and pivotal role in an organization's growth and expansion, extending beyond the traditional responsibilities of accounting, taxation and financial reporting. In response to the swift technological advancements, CFOs are reshaping corporate strategies, streamlining financial processes, and harnessing the power of big data and analytics to provide valuable business insights. Those CFOs who prioritize an organization's long-term mission, vision, growth, and investments can make substantial contributions to the Company's success.
Furthermore, CFOs are spearheading the development of efficient and automated finance functions by leveraging digital technologies. This highlights the multifaceted nature of their responsibilities in today's digital era.
What are your Company’s expansion plans? Please tell us about your visionary approach.
Our Company has a grand vision of 500 years. We have won the trust of our customers based on the confidence people posed in our Brand ‘Moira’. We are now entering into new product lines of ERW Pipes and tubes. We have grown from serving one state to now serving around eight states. We aspire to expand our melting capability from the current 0.7 to 2.0 Million MT in coming five years and become the biggest players at the national level.
How significant do you believe the workplace environment and leadership are within a company?
Employees and teams are the most valuable assets of our Company. The work atmosphere and the organizational culture hold immense importance in the success of the organization. We prioritize various aspects of employee training and development, work-life balance of our staff, recognition of their critical role in the overall success of the organization. We have been effectively nurturing and preparing our next generation of leaders and training them at prestigious business schools.
I engage in activities that yield long-term benefits, even if it means sacrificing short-term gains
What is your guiding leadership philosophy and how do you inspire you team?
My leadership approach is centered on the aspiration of continuous growth and value to our stakeholders. I encourage and consistently motivate my team to strive for excellence. I believe that a combination of hard work and practical intelligence can help achieve these aspirations. Staying updated with industry trends and technical advancements is crucial for enhancing productivity. On a lighter note, I believe I am doing a good job as an inspiration because I have witnessed an outstanding performance of my team.
As a business leader, what advice would you offer to aspiring entrepreneurs?
India is a land of vast opportunities with tremendous potential across all sectors. My message to aspiring entrepreneurs: To achieve success, remain receptive to continuous learning, hire skilled professionals, foster an environment where employees are encouraged to contribute and nurture innovative ideas. Additionally, prioritize the development of new skills and capabilities while upholding the highest standards of corporate governance. It's also essential to closely monitor the Company's impact on environmental, social and governance standards.
Deepak Saraf, Chief Financial Officer, Moira Sariya
CA Deepak Saraf is the CFO of (Jaideep Ispat and Alloys - ‘Moira Sariya’) and a Chartered Accountant with 20 years of experience. His expertise spans finance, taxation, ERP implementation and driving innovation in the iron and steel industry.
