A forecast is a map of assumptions
Revenue, margin and cash forecasts depend on choices about demand, pricing, capacity and working capital.
Read the essayThe leadership review
Ananya Rao
Chief Financial OfficerIndia · Global perspectiveVolume 03
Notes from practice
- NOTE I
Capital allocation
Competing business proposals were being evaluated on inconsistent assumptions.
- NOTE II
Finance transformation
Finance reporting had become a collection of local processes rather than an enterprise view.
A leadership conviction
Finance earns trust by making the economics of a choice visible. I combine discipline in cash, controls and reporting with constructive challenge on investment and growth. A clear explanation of uncertainty is more valuable than precision that the underlying assumptions cannot support.
- Capital raised
- $2.4 bn
- Equity, debt and a cross-border listing
- Margin expansion
- 380 bps
- Over four reporting years
- Qualified audit opinions
- 0
- Across twelve reporting periods
- Transactions closed
- 11
- Acquisitions, divestments and JVs
Beyond the page
The record behind the perspective.
In the boardroom
- Calder LogisticsIndependent Director · 2021 — Present
- Westmoor Housing FinanceNon-Executive Director · 2018 — Present
- The Lakeshore FoundationHonorary Treasurer · 2016 — 2022
Recognition
- CFO of the Year — Large EnterpriseThe Finance Leaders Forum · 2024
- Best Investor Relations, Mid-CapCapital & Governance Quarterly · 2023
In conversation
- “Capital allocation is a leadership decision, not a spreadsheet”Capital & Governance Quarterly · 2025
- “Inside a cross-border listing in eleven months”The Finance Leaders Forum · 2024
- “What audit committees should ask about cash”The Boardroom Review · 2023
Turns a complex balance sheet into a decision the whole board can own. Investors trusted the numbers because they trusted the person.
Continue the conversation
Ideas are tested in conversation.
For board, advisory and speaking invitations, and for readers who want to take an argument further.
- Board appointments
- Advisory roles
- Speaking invitations
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