Aditya Hegade: The Driving Force Behind Deccan Hydraulics' Financial Innovation & Excellence | CEOInsights Vendor
Aditya Hegade: The Driving Force Behind Deccan Hydraulics' Financial Innovation & Excellence

Aditya Hegade: The Driving Force Behind Deccan Hydraulics' Financial Innovation & Excellence

  Aditya Hegade,   Group CFO

Aditya Hegade

Group CFO

Chief Financial Officers (CFOs) are often dubbed ‘Chief Future Officers’ due to their pivotal role in shaping an organization's future trajectory. Beyond managing finances, CFOs strategically drive initiatives, envisioning longterm success. They navigate challenges, institute internal controls, and align financial strategies with corporate goals, playing a crucial part in the company's sustainable growth. This designation signifies their impact in not just preserving financial well-being but also guiding the company toward a prosperous and forward-thinking future, exemplified by CFO Aditya Hegade.

Currently serving as the Group CFO at Deccan Hydraulics, Aditya has orchestrated a remarkable transformation within the organization. In remarkable short span of time, he navigated Deccan Hydraulics through a comprehensive cleanup of historical financial discrepancies, ushering in a new era of internal control, finance discipline, and governance. Under Aditya's strategic guidance, the company witnessed a paradigm shift, transcending from a private entity to a dynamic force with clear vision & million dreams in the eyes of employees and management.

Below is an excerpt of Aditya Hegade’s exclusive interaction with CEO Insights magazine.

Could you give a brief account of your professional background and experiences? What is the motivation that fuels your daily routines?

Originating from Hubballi, I've cultivated 18+ years of diverse finance and legal expertise, currently serving as Group CFO at Deccan Hydraulics. In the evolving landscape post-Industrial Revolution, the CFO role transcends. Beyond numbers, I shape the company's destiny, weaving through sales, legalities, and organizational vision. Acting as a linchpin, I bridge management and employees.

Motivation stems from sculpting the company's future, impacting its trajectory daily. Deccan Hydraulics, an MSME, contributes to nation-building - a source of professional pride. Guiding financial strategies
and nurturing expansion, my position goes beyond; it involves being essential to a story that shapes success.

How would you define Deccan Hydraulics as an organization and its current position in the market?

Deccan Hydraulics stands as an avant-garde force in the Indian hydraulic industry, boasting a prestigious clientele including industry giants like Tata, Volvo, SML Isuzu, Bharat Benz, Komatsu and BEML. With a robust presence for three decades, our imprint extends across the Indian automotive landscape, a key player in the nation's second-largest automotive hub. Positioned strategically with a blue ocean strategy, our market potential is expansive, offering ample room for growth. Deccan's legacy, synonymous with quality, has been meticulously crafted over the years, underpinned by a loyal customer base. As we venture into untapped territories, buoyed by our heritage and customer trust, optimism prevails; the coming years hold the promise of not just growth but a resounding impact on the industry.

My leadership approach at Deccan Hydraulics is a blend of trans-formational and parti-cipative methodologies

As the Group CFO of Deccan Hydraulics, how do you plan to apply your long professional experience in this domain to add more stars to the organization's profile?

As the Group CFO of Deccan Hydraulics, my approach is a paradigm shift from the legacy mindset ingrained over the organization's 30-year history. Navigating this transformation requires a meticulous divisional strategy, clarifying the path forward with a keen eye on new milestones. Internal restructuring is paramount, demanding a recalibration of financial, legal, and operational protocols. My role extends beyond financial planning; it involves guiding the company and its workforce towards a visionary future. From due diligence and bridging management department gaps to fundraising, my focus creates a trajectory aligning with our seven-year plan and the ultimate goal of an IPO within the next few years, elevating Deccan Hydraulics to new heights.

Tell us about your leadership approach. What are the guidelines or methodologies you follow as a leader?
My leadership approach at Deccan Hydraulics is a blend of transformational and participative methodologies. In steering diverse age groups within my teams, I undertake a transformational role, catalyzing the shift from legacy processes to cutting-edge technologies and digitalization. Simultaneously, I embrace participative leadership, fostering a collaborative environment where each team member is empowered to propose solutions alongside identifying challenges. Encouraging a culture of proactive problem-solving, I challenge my team to present multiple options (ABC solutions) for any given issue, instilling a mindset of critical thinking. This not only propels efficiency but also fuels individual career growth, facilitating upward mobility within the organizational hierarchy.

In your professional journey so far, which are the milestones that bestowed you with the utmost satisfaction - both personally and professionally?

In my professional odyssey, personal milestones intertwine seamlessly with the achievements that evoke profound satisfaction. My solid support system lies in my family, a cornerstone of my 18- year career. Amidst the demanding realm of finance, where time knows no bounds, my parents, wife and my son have been steadfast pillars, asking not ‘why’ but understanding the responsibilities. They are my greatest success, alongside being a person with rare blood group type called ‘Bombay Negative’ donated more than 57 times saving 120+ lives, this will add to my mental peace, Professionally, meticulous attention to detail and staying abreast of industry dynamics form my success mantra, as an icing on the cake my work has been recognized by one of the forum and awarded me with CFO of the year 2023 award. I take pride in traversing diverse industries, from FMCG, IT/ITES, Services to Manufacturing Industries, and pioneering in the intricate field of Oversea Direct Investment (ODI). As one of the select few navigating ODI intricacies, I stand as a proficient trailblazer in the finance industry.

Aditya Hegade, Group CFO, Deccan Hydraulics

Aditya Hegade, Group CFO at Deccan Hydraulics, boasts 18+ years in finance. Holding an MBA in Finance, LLB, and IFRS certification, he excels in Strategy, Statutory Compliance and Internal controls. His transformative initiatives elevated Deccan Hydraulics, showcasing his prowess in strategic financial management and exemplary leadership.

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