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Case Study – Pharmax

Our MyCFO Pharmaxclient Pharmax is a family owned and managed company with turnover close to INR 700 Crores.  Pharmax is a leading name in the Active Pharmaceutical Ingredient (API) and Finished Drug Formulation       (FDF) segments which is sold in both the regulated and the generic markets in India and over 50 countries worldwide. The company has state of the art manufacturing facilities approved by US FDA and has 17 Abbreviated New Drug Application (ANDA) filed and 12 in the pipeline.

Challenges for MyCFO:

Budgeting at Pharmax was a simple ‘spread sheeting’ exercise restricted only to collation of data inputs received from various departments. The variance between budgets and actuals for instance in financial year 13-14 was more than 80%. The variances were reported every month to the HOD’s and the management on a month on month basis for their review and comments. Continue reading

Case Study- Diagnostic Center

MyCFO Diagnostic CenterOur client:

Diagnostic Center is an ultramodern diagnostic centre with comprehensive facilities for Laboratory, Imaging investigations and other diagnostic facilities head-quartered in Mumbai. Lifecare provides digital x-ray, digital imaging, mammography, bone densitometry, sonography, cardiac imaging, advanced dentistry, spirometry, eye check up amongst others. Continue reading

MyCFO.in looking to raise PE funding, triple client base

MyCFO PE FundingWealth Tree Partners, which runs the online CFO servicing business through MyCFO.in, is looking to raise capital from private equity funds next year, said a senior company official.

“We want to raise growth capital from a fund that has had experience of scaling services business and can help us expand. From next year, we want to start implementing our plans of offering specific products and industry vertical based services, for which we would require Continue reading