News Release Details
Programme on 'Financial Management Skills for Top Management' conducted at IiPM Gujarat Refinery
New Delhi 12-Jun-2007
A five-day programme on 'Financial Management Skills for Top Management' was conducted at IiPM from June 04 till June 08, 2007. Seventeen senior executives in the rank of GMs/DGMs, from discipline other than finance from all divisions of IndianOil and subsidiaries participated in the programme. Indian Institute of Management Calcutta (IIMC) provided the faculty support for the programme. During the five day programme, Prof. Ashok Banerjee, Programme Director (IIMC), covered the financial concepts associated with balance sheet, Income statements, cash flow statement and financial analysis. The participants got exposed to concepts of capital structure and cost of capital through computer-based exercise. Prof. B B Chakrabarti (IIMC), gave insights into long-term investment, working capital management, long-term and short-term options for raising resources and managing price risk through hedging. The participants learned the concepts of marginal costing, strategic cost management, relevant costs for managerial decision and the role of corporate governance in enhancing the value of the firm from the lectures of Prof. A K Bhattacharyya (IIMC). Interacting with the participants on the concluding day, Mr. S C Jain, ED (Corporate Finance), quoted that" we should always keep commercial aspect in mind and must analyze what extra ounce we can squeeze from our investments apart from other considerations." When questioned about closing down unviable projects, he responded that, "Whatever is not profitable should be closed and corroborated it with examples of various depots and plants which have been closed down by IndianOil on economic consideration". On the query of hedging activities, he explained the operation of IndianOil treasury for management of fund as well as management of risk associated with foreign exchange rate. The knowledge check quiz administered at the end of the programme showed improvement in learning the financial management skills. Participants found the programme immensely beneficial, meaningful and interactive.
New Delhi 12-Jun-2007
A five-day programme on 'Financial Management Skills for Top Management' was conducted at IiPM from June 04 till June 08, 2007. Seventeen senior executives in the rank of GMs/DGMs, from discipline other than finance from all divisions of IndianOil and subsidiaries participated in the programme. Indian Institute of Management Calcutta (IIMC) provided the faculty support for the programme. During the five day programme, Prof. Ashok Banerjee, Programme Director (IIMC), covered the financial concepts associated with balance sheet, Income statements, cash flow statement and financial analysis. The participants got exposed to concepts of capital structure and cost of capital through computer-based exercise. Prof. B B Chakrabarti (IIMC), gave insights into long-term investment, working capital management, long-term and short-term options for raising resources and managing price risk through hedging. The participants learned the concepts of marginal costing, strategic cost management, relevant costs for managerial decision and the role of corporate governance in enhancing the value of the firm from the lectures of Prof. A K Bhattacharyya (IIMC). Interacting with the participants on the concluding day, Mr. S C Jain, ED (Corporate Finance), quoted that" we should always keep commercial aspect in mind and must analyze what extra ounce we can squeeze from our investments apart from other considerations." When questioned about closing down unviable projects, he responded that, "Whatever is not profitable should be closed and corroborated it with examples of various depots and plants which have been closed down by IndianOil on economic consideration". On the query of hedging activities, he explained the operation of IndianOil treasury for management of fund as well as management of risk associated with foreign exchange rate. The knowledge check quiz administered at the end of the programme showed improvement in learning the financial management skills. Participants found the programme immensely beneficial, meaningful and interactive.