Appointing a woman for the position of CFO is assumed to be a contradictory announcement for an organization. Kalyani Rane earned the title of CFO at a young age, with her surprising competency in managing critical responsibilities. Dedication and consistency have been the mantra to excel and grow throughout the career journey. Kalyani Rane has experience in varied industries such as the Retail industry – Pepe Jeans London, QSR / Infrastructure – Pizza Hut, KFC, Dodsal Corporation Pvt. Ltd, Luxury F&B Brands – Hard Rock Café International, California Pizza Kitchen, Shiro, and Asilo. During this tenure she was associated with various global and national investors such as KKR, Backstone, Warburg Pincus, Premji Invest, and New Quest. In this exclusive interaction with Women Entrepreneur Magazine, she shares her journey.

Give us a brief overview of Cosmos Maya. What are some important features about your expertise as a business leader in the finance industry?

Cosmos-Maya is the biggest Kids Animation Studio in India, and it is the No. 1 Animation company in India that produces high-quality 2D and 3D animated content. It has its own popular Domestic IP's such as Motu-Patlu, Gadget Guru Ganesha, Selfie with Bajrangi, Tik Tak Tail, Titoo, Dabangg and Eena Meena Deeka. The studio has 18 shows on air and 10 in production, including four finished European co-production series and an international animation feature film, 'Dogtanian and the Three Muskehounds'.

Cosmos-Maya has a strong reputation for consistent delivery of popular Indian animated content and has produced an unprecedented 40,000 minutes of original animation in the last five years, comprising over 2000 half-hour episodes. Cosmos-Maya's IPs air in more than 150 countries today.

With its unparallel execution capabilities, Cosmos- Maya enjoys 60% of the market share. It is also the largest creator of animated Edtech content.

It is the first Animation Studio that attracted investors such as KKR and NewQuest due to its exceptional financial and operational performance. The company has an unparalleled combination of passion and required financial discipline.

I always took my career move to lead a new industry. Joining Cosmos-Maya was more like exploring the World of Animation and Creativity.

I joined this organization in 2018 as a Chief Financial Officer (CFO) when KKR invested taking a substantial stake. I was handed over the responsibility of setting up the Finance department and inculcating financial discipline without hurting the morale. It is like getting the organization ready for take-off. In an investor-driven organization, CFO plays a very important role in investors' exit strategy. The task begins with working on key areas to make an organization strong to scale and more profitable, with sustainable numbers. That is what we achieved as a team in Cosmos-Maya.

Robust Management Information system has been set up, which serves the management with the right information at the right time so that the right decisions can be taken. I led a team that played a pivotal role in setting up the finance department and efficient financial controls through SOP's. This helped in strategic planning and increased efficiency leading to overall healthy business performance.

The team worked on ERP and internal tracking mechanisms to ensure optimum utilization of resources. Specific strategies were laid during COVID times to fight back and emerge as a winner. Profitability improved by 300% within two years of my joining. Also, existing investor’s exit happened with a 4X valuation within just three years. Securing sufficient credit lines for the company to fund stretched working capital requirements, bringing cost efficiency through correct analysis and cost control measures, and evaluating a consolidation strategy to claim leadership position for Cosmos-Maya; all were dotted by the Cosmos-Maya team. It's been an amazing journey with everyday give and take blessed with an exciting learning curve.

Take us through your early educational journey and enlighten us about key business lessons that you learnt through prior industry experience as an approach to leadership.

I was never inclined to the world of finance or commerce. I wanted to pursue science. However, our life’s path is seldom in agreement with our choices. Likewise, I found myself building a future with commerce & finance throughout the five years of my B. Com degree, I excelled in my subjects with a stellar performance. To my utter surprise, I started loving the subject and pursued CMA (Cost and Management Accounting) rather than CA. I also did MBA in Finance from Symbiosis to add a feather to my Costing & Accounting knowledge. Lesson: If one gives 100% dedication and works with passion, whichever career one selects, prosperity will be achieved.

Before joining Cosmos-Maya, I got the opportunity of working in diverse industries. I spent at least fiveplus years in each industry to influence and create an impact. I also closely interacted with Global Investors such as Blackstone, Warburg Pincus, KKR, and Indian Investors such as Premji Invest. It’s interesting to study the mindset of different investors.

There are many important takeaways over the 23 years of experience in the industry. CFO has to first learn the business and then curate financial controls which can smoothly work without hurting people’s sentiments. Nothing can be achieved alone; respect and trust are crucial foundations of team work. CFO has to create an environment for a strong foundation and sustainable growth of the organization. The best way to increase profitability is by increasing revenue and not by cutting costs. Innovation and creativity are equally important to rationalize the cost. It is also important to update knowledge and keep ears to the ground. For any organization to be successful, it is imperative to be one step ahead of competitors. As a key management person, CFO has to drive that cultural intelligence.

Throw some light on the various roles and responsibilities that you currently shoulder at Cosmos Maya as the CFO. What are some of the most challenging aspects of your current role?

For Cosmos-Maya particularly, a CFO’s role was more than just about the black & red on the ledger. From my first-hand experience, Cosmos-Maya always wanted a CFO who is business-oriented. Hence, the scope of work here is quite different from traditional CFO. Here, the role is dynamic, and there is active involvement in every aspect of business decisions. It’s more strategic than routine. I have worked here with a clear focus on the company’s financial and operational performance. The organization has grown organically, and now it’s growing inorganically as well.

“It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things – leonardo da vinci”

The company has an employee base of 1200+ employees and is expanding its wings globally. It has prestigious clients such as Viacom18, Disney, Sony, Warner Media, Wild brain, and has many successful IPs. Working in Animation without strong IT infrastructure, especially during the pandemic, when everyone opted for the WFH model, was a real challenge.

Cosmos-Maya’s proactiveness proved that, even in odd situations, organizations could survive and be successful. While playing a pivotal role in designing and implementing the strategy, we designed an efficient WFH model, and when almost all studios were struggling to survive, this one conquered the situation.

Having explored various areas of finance, tell us about your expertise in the finance industry. What are some of the most significant milestones achieved by you so far?

I agree that finance is a vast field, and there will be a lot to explore even after spending five decades. In my career spanning 23 years, I have explored different industries and have closely studied how finance works in various unique and common ways.

I treat my work as art, and my performance at each of the organizations I worked with, is an unforgettable experience adding many new dimensions. Impacting and driving healthy cultural change with sustained, scalable, profitable growth is a milestone I achieved in every industry or organization I worked with. Every organization I worked with grew in revenue and profit faster than the expectation of management. It became well-groomed on financial systems; and worked like well-oiled machinery to achieve new heights. During this growth, organizations created huge employment, investors got handsome returns, and the Government got all the taxes on time. In a nutshell, all internal and external Stakeholders became happy.

“Cosmos-maya’s proactiveness proved that, even in odd situations, organizations could survive and be successful. While playing a pivotal role in designing and implementing the strategy, we designed an efficient wfh model, and when almost all studios were struggling to survive, this one conquered the situation.”

I have followed a simple Mantra “What gets measured, gets improved”. It means that to understand the potential area to grow revenue and profitability, it’s important to have a strong Management Information system. All key KPIs of business should get tracked, measured, and work consistently to improve revenue and profitability.

How do you keep yourself well aligned with the periodic evolutions occurring within the financial world and the tech world? And what would be your advice to aspiring women leaders & entrepreneurs?

Reading and updating myself through professional networking of peer colleagues and friends is one way to be aligned with the novel activities. As a CFO, I am connected with people such as Auditors, bankers, investors, legal professionals, and various professional forums. It’s always a pleasure to interact with them and discuss viewpoints about new developments in the Finance field. Finance is ruled by different Government policies, budgets, legal bodies, tax authorities, and international rules. CFOs should keep their knowledge updated on all fronts.

To be an epitome of the sheer force of success. We need to beat all odds to pursue and excel in everything that comes in the way. To all the budding entrepreneurs and leaders, I would say every woman has immense potential to grow. They are sincere, smart, and intelligent. If they decide, there are no limits to what they can achieve.