OREANDA-NEWS. July 5, 2011. On his appointment as Director on the Board of Bharat Heavy Electricals Limited (BHEL), Mr. P.K. Bajpai, 56, has assumed charge as Director (Finance) of the Navratna Public Sector engineering and manufacturing enterprise.

Prior to this, he was heading the company’s Financial Services division as Executive Director. A Mechanical Engineer from IIT, Kanpur; MBA from the University of Leeds, UK and AICWA from the Institute of Cost and Works Accountants of India, Mr. Bajpai joined BHEL as an Engineer Trainee in 1977. He has 34 years of diversified and versatile professional experience through working in major segments of BHEL.

Under his stewardship as Head of Finance at Bhopal, the company’s Bhopal plant achieved many milestones including major improvements in the areas of material cost reduction, budgetary control, other miscellaneous expenses, revenue realisation by scientific computation, working capital management and cash management, etc.

Earlier, as Head of Finance of BHEL’s Power sector – Northern Region, Mr. Bajpai was responsible for all-round improvement in turnover, value addition, optimisation of human resources, control of sundry debtors, and overall improvement in computerisation, tax management and cash management.

As Head of Finance of the Project Engineering Management function, he played a critical role in initiating the development of an integrated software called PULSE, for sizing and specifications of packages for procurement and rationalisation & simplification of processes.

In addition to heading SBUs, Mr. Bajpai worked in the Corporate Financial Services division of BHEL, responsible for treasury management, forex exposure management, receivables management, operations surplus/deficit management, etc.

As GM (Finance) Internal Audit/Management Improvement Cell, he spearheaded the introduction of system audit and a system of effectiveness of internal audit and improvements for higher maturity level, effective coordination with CAG, etc.