A marketplace for contract manufacturing, Zetwerk Manufacturing, announced the appointment of Pulkit Bhandari as its CFO. Bhandari will lead Zetwerk's financial planning and capital allocation projects, engage with existing teams to develop the business's financial frameworks, and closely communicate with the founders on strategy as CFO.
He will also be in charge of realigning several Zetwerk structures in order to prepare them for expansion in the future.
“His [Pulkit’s] profound understanding of the financial ecosystem, combined with his ability to navigate complex scenarios, will strengthen the company's financial performance and support its continued expansion,” said Amrit Acharya, cofounder and chief executive of Zetwerk Manufacturing.
Bhandari, a chartered accountant by trade, previously worked as the head of group corporate finance at RPG Enterprises and as an investment banker at places like Deutsche Bank and ICICI Securities. From Rs 835 crore in FY21 to Rs 4,961 crore in FY22, Zetwerk's income increased six-fold. After accounting for a non-cash employee stock ownership plan (Esop) expense, the company's overall losses remained essentially same at Rs 42 crore.
To enhance its verticals in the oil and gas, aerospace, defense, and infrastructure component markets, the corporation announced in June 2022 that it had paid Rs 100 crore for the acquisition of three companies.