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Chandra Wadhwa & Co

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Chandra Wadhwa & Co

Cost and Management Accounting Firm Chandra Wadhwa & Co. was established in the 2001. is a professionally managed firm.

It is a leading cost accountancy firm rendering comprehensive professional services which include audit, management consultancy, tax consultancy, accounting services, manpower management, secretarial services etc. The team consists of distinguished cost accountants, corporate financial advisors and tax consultants. The firm represents a combination of specialized skills, which are geared to offer

s sound financial advice and personalized proactive services. Those associated with the firm have regular interaction with industry and other professionals which enables the firm to keep pace with contemporary developments and to meet the needs of its clients.

04/04/2024

Good Afternoon All :)

Can you save costs on your office space? This is Chandra Wadhwa, and here is this week's Cost Cutting Snippet:

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Amazon Expects to Save $1.3 Billion by Slashing Office Vacancies
Source: https://timesofindia.indiatimes.com/technology/tech-news/leaked-amazons-office-plan-to-cut-cost-by-more-than-a-billion-dollars/articleshow/108872429.cms

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1/ The e-commerce giant plans to achieve this by allowing certain leases to expire naturally, discontinuing the use of some office floors, and negotiating early lease terminations for specific buildings.
2/ Amazon currently has an office-vacancy rate of 33.8%, expected to drop to 25% in 2024 and further decrease to 10% over the next 3 to 5 years.
3/ Most office-space planning is still done manually using spreadsheets, which further complicates the process.
4/ Parallely: Despite staff protests against the Return-to-Office (RTO) mandate, with over 30,000 employees signing an internal petition arguing that most were hired as fully remote workers during the pandemic, Amazon's leadership rejected the plea. CEO Andy Jassy warned employees that "it's probably not going to work out for you at Amazon" if they refused to comply with the RTO policy.
5/ Amazon is determined to cut costs and this reflects in their behaviour.

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20/03/2024

Good Afternoon All :)

Will the short-term savings outweigh the eventual costs of re-acquiring lost customers. This is Chandra Wadhwa, and here is this week's Cost Cutting Snippet:

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BANKS FACE A BALANCING ACT BETWEEN COST CUTTING AND CUSTOMER FOCUS
Source: https://internationalbanker.com/banking/banks-face-a-balancing-act-between-cost-cutting-and-customer-focus/

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1/ Intro: Banks again find themselves at a crucial juncture in the face of a possible recession in the United Kingdom and continuing economic slowdowns globally. With opportunities for top-line growth thin on the ground, most banks are focused on cutting costs to shore up their balance sheets.
2/ Banks lack customer trust
3/ Risk and regulatory imperatives
4/ Improving customer satisfaction:
-- The stark reality is that cost-cutting measures often lead to sacrifices in critical services. Banks would, therefore, do well to focus on reducing costs in non-customer-facing areas—for example, removing and replacing legacy technology has long been a significant opportunity, but more often than not, it has been pushed to the back of the queue as it has been regarded as too complex and a problem for another day.
-- Similarly, opportunities to accelerate the introduction of machine learning (ML) and artificial intelligence (AI) solutions exist, but we are only seeing pilots and small use-case experiments so far.
-- Remain mindful of the bigger picture when trimming expenses. Will the short-term savings outweigh the eventual costs of re-acquiring lost customers or rebuilding damaged reputations once we emerge from this economic slowdown?
5/ Extro: The battle for talent

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13/03/2024

Good Afternoon :)
This is Chandra Wadhwa, and here is a very important research by BCG on Cost Management in 2024:

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1/ According to new BCG research, executives are initiating enterprise-wide cost campaigns, targeting such functions as manufacturing, supply chain, labor, and marketing and sales.
2/ Cautious Optimism: Our survey of more than 600 C-suite executives around the world found that fewer are as pessimistic about macroeconomic shifts as they were in 2023.
3/ Making Cost Management a Priority: After managing costs, C-suite leaders’ top strategic priorities for 2024 are growth and expansion.
4/ Targeting Cost Efforts: To lower manufacturing and supply chain costs, companies can optimize procurement, logistics networks, and distribution and warehousing, and invest in digital lean manufacturing and advanced planning processes.
5/ A Strong Start Doesn’t Always Lead to Lasting Cost Savings
6/ A Holistic Approach to Cost Management: that goes beyond one-and-done cost takeouts and by establishing a culture of continuous improvement

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What Leaders Are Saying About Costs and Growth in 2024

Source: https://www.bcg.com/publications/2024/what-leaders-are-saying-about-costs-and-growth

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07/03/2024

Good Afternoon 🙂
This is Chandra Wadhwa, and here is one of the funniest cost-cutting strategies I came across:
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A friend told me about a company decision that came from their senior leadership office: NO MORE COFFEE. Yes, you read that right. The coffee machines stayed, but the employees were told to bring their own coffee. The rationale? To save on operational costs.
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As a Workplace Psychologist, I've Witnessed Many Cost-Cutting Strategies, but Nothing Like This
**Some business changes are just flat-out wrong**
Source: @ //https://www.inc.com/.../as-a-workplace-psychologist-ive...
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A Humble Request: Please do not become too critical for your COSTS over your Employee's Happiness. Do follow us Chandra Wadhwa & Co for more such content.
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Check out this meme to add some *LOLs* to your vibe.

28/02/2024

Good Afternoon :)
This is Chandra Wadhwa, and here is my pick from last week’s cost-saving strategies from Forbes:
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Navigating Layoffs: 20 Strategies Every Leader Should Know
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1/ Retrain Your Employees For More In-Demand Roles
2/ Optimize Strategies Instead Of Replacing Employees
3/ Conduct An In-Depth Analysis Of Business Costs
Layoffs should be a last resort. Leaders should explore several cost-saving strategies to protect their team and business. I would first conduct an in-depth analysis and restructuring of the business's costs, focusing on reducing non-essential expenses and increasing efficiency whilst minimizing the impact on employee morale, culture and core business functions.
5/ Map The Work Of Your Team
All leaders should clearly map the work of their team (and each team member) to 1. the functional business outcome, and 2. the revenue those functional business outcomes generate. To illustrate, an HR leader is responsible for a high-performing, cost-efficient workforce. Each HR team member is helping to either reduce labor costs or maximize workforce productivity. - Janine Yancey, emtrain
8/ Identify Areas Where You Can Optimize Costs
12/ Ask Leadership If You Are Delivering What The Customer Wants
14/ Economize With Transparency
Economize with transparency. Cutting costs may be necessary, but when it’s done abruptly and without explanation, organizational jitters can set in. Rather than maintain radio silence, acknowledge the macro forces at work, lay out the rationale and invite people into the process. Reducing perks and resources is never easy, but doing it out in the open removes the mystery—and some of the sting. - Graham Glass, CYPHER Learning
15/ Analyze Your Business's Future Needs
18/ Optimize Inventory Levels
A less conventional yet effective cost-saving strategy to consider is to focus on optimizing inventory levels. Implementing just-in-time inventory practices and utilizing software for real-time tracking helps organizations minimize costs related to excess inventory, storage and obsolescence. This approach not only cuts down unnecessary expenses but also ensures that demand is consistently met. - Katrina Jones, Acacia Network
19/ Implement Energy-Efficient Practices And Outsource Non-Core Functions
Implement a few cost-cutting practices, including reviewing all expenses, implementing energy-efficient practices, offering remote work options, streamlining processes, outsourcing non-core functions and investing in technology. These practices can help improve financial stability while maintaining the quality of products or services. - Reema Akhtar, Seer Solutions
20/ Offer Early Retirement Packages To Senior Employees
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Source: https://lnkd.in/gx_HTU-v
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That’s all for today. Do follow us Chandra Wadhwa & Co for more such content.
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Check out this meme to add some *LOLs* to your vibe.

21/02/2024

Good Afternoon,

Here is my pick on the recent cost optimisation initiative across the world for you to ponder upon. And sure, I always appreciate a good meme to lighten the mood!

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Battery breakthrough that could slash price of electric cars

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The Harvard team’s postage stamp-sized battery retained 80 per cent capacity after 6,000 cycles, and showed good performance at low temperatures.

It outperforms other solid-state batteries on the market today, the scientists said, after they discovered a new way to make it with a lithium metal anode, which has ten times the capacity of the typical, commercial graphite anodes.

With their new multilayer, multi-material design, the Harvard scientists were able to overcome the major challenge of “dendrites”- root-like structures which grow from the surface of the anode into the electrolyte and can pierce the barrier separating the opposing cathode, leading the battery to short, or worse, catch fire.

The long battery lifetime - equivalent to 30 years - could dramatically reduce the cost of an EV.

“If the consumer spends less money to buy an EV that will really drive global electrification,” Dr Li said.

The ability to charge the battery in a matter of minutes also means that it has very high power density, increasing the possibilities for its use.

Dr Li began working on solid-state batteries in earnest when he started at Harvard in 2015 after stints at MIT, Cal Tech, Penn State, and Nanjing University in China. “I had several dozen projects in parallel but after a couple of years, I realized the potential of solid-state battery, and I focused more on it,” he said.

In 2021, he and Harvard colleagues created a company, Adden Energy, to license and scale up the technology. A US car company has already tested their solid-state battery and found it to have the same positive results as in their internal testing, Dr Li said.

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https://www.independent.co.uk/climate-change/news/electric-cars-battery-breakthrough-b2488436.html

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05/12/2023

A few years back one of India's leading railway infrastructure providers was hesitant to implement SAP PS Module. Yet, had they chosen the path of reluctance, they wouldn’t have come this far. As Meister Eckhart emphasized, “The price of inaction is far greater than the cost of making a mistake.”

Post-implementation the company achieved remarkable cost savings ranging from ~4% to ~8%. How? By harnessing the capabilities of standard Bill of Quantities (BoQ) and Project Material Requirement Planning (MRP) tailored for each of their 26 project sites. This significantly reduced leakages and enabled the company to optimise resource utilisation and cost management across all project sites.

To understand this in detail read about the case here https://www.cwcindia.in/post/a-story-of-how-sap-project-systems-ps-simplified-the-life-of-an-organisation

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10/10/2023

H&M Shares Surge to 16-Month High as Q2 Profits Beat Estimates amid rising Summer Collections

1/ H&M's cost-cutting measures contribute to a strong Q2 performance with an operating profit of ~ 4.74 Bn Swedish crowns.
2/ H&M closed a total of 303 stores across its brands in the year to May 31, with new store openings mainly to be in "growth markets" while closing stores in established markets.
3/ In addition, effective inventory management leads to a significant decrease in inventory levels, positively impacting the company's financials.
4/ H&M's inventory was at 16.7% of rolling 12-month sales on May 31, down from 19.2% in 2022.

Estimated Cost Savings: Unquantifiable. ~$300 Mn. - ~$600 Mn. per annum 💰💸

Cost Optimisation Impact:
1/ Effective cost management strategies enable H&M to navigate challenges, such as high raw material and freight costs, resulting in improved operational efficiency.
2/ H&M's strong performance and focus on higher-priced brands may pose a competitive challenge to other fashion retailers, particularly those in the fast-fashion segment – Zara, Inditex, etc. Competitors would need to adapt their strategies and offerings to remain competitive.

Country: Sweden.
Company: H & M Hennes & Mauritz AB
Industry: Retail
Cost Element: Raw materials, freight, labour, inventory, marketing, overhead, and store operations.
Nature: Opex + Capex 💰📊
Cost Classification: Fixed Cost ⚖️ + Operations Overheads ⚙️
Source: June 30, 2023 | news 24| https://lnkd.in/dajevFuA

For more ideas on optimising your costs follow us Chandra Wadhwa & Co

Read more @ https://www.cwcindia.in/cost-optimisation-updates

03/10/2023

Attention Management Accountants

One of the Indian telecom companies struggled to determine the true cost of its services and where to invest resources effectively, which was causing financial problems and confusion.

We implemented a structured costing system, in accordance with the TRAI’s Accounting Separation Regulations, 2016. This allowed them to track expenses, identify the most profitable services, allocate resources wisely, save costs, make informed decisions, optimize resource use, and increase transparency.

Learn more @ https://www.cwcindia.in/post/boosting-profitability-how-structured-costing-system-provides-insights-for-telecom-organisations

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27/09/2023

India to Bharat: The Price Tag of Changing the Country's Name (~₹14,304 Crores)

- India's Identity Evolution: India's consideration of changing ‘India’ to 'Bharat' reflects a dynamic shift in its identity, emphasizing its rich heritage and transcending colonial hangover.

-- Economic Opportunity: While renaming a nation is a significant undertaking, it presents an opportunity for economic growth, particularly in the long run, as it involves infrastructure upgrades, mapping efforts, and more, potentially benefiting various industries.

--- Global Engagement: The G20 Summit was successfully concluded in New Delhi earlier this month, where world leaders engaged with the Prime Minister of 'Bharat,' Shri Narendra Modi, which signifies India's growing role as the voice of the global south, fostering international cooperation and diplomacy on important global issues.

-> Estimated Cost: Although no official cost figures have been released to date. One of the methods used to calculate the cost of renaming Swaziland to Eswatini in 2018 is known. Intellectual property lawyer Darren Olivier applied a corporate rebranding model, considering that the average marketing cost for large enterprises is typically ~6% of total revenue, with rebranding exercises costing ~10 per cent of the marketing budget. In the case of Swaziland's renaming, this approach estimated the cost at $60 million.
If we apply a similar model, the fiscal revenue for 2023 in India was ₹23.84 Lacs crore, encompassing tax and non-tax revenue, the result of renaming it to “Bharat” may lead to an estimated cost of ₹14,304 crore. (₹23.84 Lacs Crores * 6% *10%)

**Disclaimer: It's important to note that the estimated cost provided here is based on a simplified model and assumptions applied to a hypothetical renaming scenario. Actual costs associated with renaming a country like India to 'Bharat' can vary significantly due to complex logistical, administrative, and economic factors. This estimation is meant for illustrative purposes and should not be considered an accurate representation of the precise financial implications of such a renaming endeavour. **

Country: India
Nature: Capex
Cost Classification: These costs encompass updating maps, road navigation systems, official paraphernalia, and more, involving coordination among public and private entities.
Source: September 5, 2023 |Outlook |
https://business.outlookindia.com/news/president-of-bharat-what-can-be-the-cost-of-an-official-name-change-from-india-to-bharat #:~:text=Applying%20the%20same%20formula%20with,to%20rename%20India%20to%20Bharat

20/09/2023

Ambuja Cement's Ambitious Acquisition of Sanghi Industries Sets Course for Cement Market Dominance and Capacity Expansion

---- Ambuja Cement acquires a 56.74% stake in Sanghi Industries, with a Rs 5,000 crore deal.

**** Ambuja plans on increasing its cement capacity from 6.1 MT to 10 MT by March 2024. Adani said that this will entail a move of ~Rs 500 crore.

-> 6.1 MMTPA Cement Production Capacity

-> 6.6 MMTPA Clinker Production Capacity

-> Access to limestone reserves of ~1 Bn. MT

-->> Estimated Cost Savings: The current deal size is ~$ 99 EV/ton but potential to ***ramp up the capacity from 6.1 MT to 10 MT with minimal capex by de-bottlenecking operations ~Rs. 500 Cr. This will revalue the deal size at ~$66 EV/ton***,however, financials point to ~84 EV/ton of current capacity.

The Impact:
- Value Enhancement: The potential synergies from the acquisition may lead to improved financial performance, potentially boosting shareholder value over time.

- Increased Competition: Competing cement manufacturers could face heightened competition from Ambuja Cement with enhanced capacity and cost-efficiency.

- Pricing Pressure: Prospective increases in production capacity could result in competitive pricing strategies thereby warranting competitors to adjust their costing/pricing models to stay in the race.
Country: India
Company: Sanghi Industries Limited
Industry: Cement
Cost Element: Plant and Machinery
Nature: Capex
Cost Classification: CWIP + Fixed Assets
Source: August 3, 2023 | ETNOW | https://www.etnownews.com/companies/lowest-cost-supplier-of-cement-ambuja-cement-director-karan-adani-on-rs-5000-crore-acquisition-of-sanghi-industries-article-102380317

For more ideas on optimising your costs follow us Wadhwa & Co.

Read more @ https://www.cwcindia.in/cost-optimisation-updates

13/09/2023

Price Hikes Kick in as Electric Two-Wheeler Subsidies Drop: Companies like Ather Energy and Hero Electric Step Up to Soften the Blow 🛵💥🔋
1/ 2nd phase of the FAME-II scheme in India reduced subsidies for electric two-wheelers (E2Ws). The amount now stands at Rs 10,000 per kWh (from Rs 15,000) with a maximum cap of 15% (from 20%) of the ex-factory price.
2/ As a result, companies like Ola Electric, Ather Energy etc. increased the E2Ws prices. 💸
3/ Price hike ranges from Rs 8,000 to Rs 30,000, affecting popular models like Ola S1, Ather 450X, & Matter Energy's electric bikes. 💰
3.1/ Ola S1 price increase by ~ Rs. 15,000 💰
3.2/ Matter Energy price increase by ~ Rs. 30,000 💰
3.3/ Ather Energy product price increase by ~ Rs. 8,000 💰
3.4/ TVS Motors product price increase by ~ Rs. 17,000 - Rs. 22,000 💰
3.5/ Ampere EV product price increase by ~ Rs. 29,000 - Rs. 39,100 💰
4/ However, Hero Electric stands out with its decision to not increase the prices of its e-scooter models. ✅
5/ Price revisions are expected to have a marginal impact on sales growth, with potential pressure on volumes in the next few months. 📉
6/ CRISIL estimates a price increase of Rs 20,000 to Rs 25,000 for a vehicle priced at Rs 1.5 lakh, leading to higher down payments and slightly increased consumer EMIs.

Price Change Impact:
1/ Revised subsidies came into force on June 1, significantly hitting EV 2W makers’ margins, leading to price hikes.
2/ Interestingly, Ather's CFO observed that the subsidy hit is as high as Rs 32k per unit sold. For now, it has only raised prices by Rs 8k, absorbing a "huge chunk". While Hero Electric chose not to raise prices but rather absorb the whole subsidy reduction.
3/ While a 15-20% price hike sounds like a big deal, it may really not be so. In the last 3yrs, entry-level Splendor, accounting for ~95% of sales, has seen prices surge by ~20%! This is massive, especially given that this country's bottom of the pyramid buys Splendor. EV 2W buyers are not at the bottom of the pyramid because they are sold at more than Rs. 1L price point. This also means these are people with comparatively higher purchasing power, and therefore, the price hikes by EV players will surely not have a sizeable impact.
Country: India 🇮🇳
Company: Multiple 🏢
Industry: Automotive 🚲
Cost Element: Sales Revenue 💰
Source: June 1, 2023 | MoneyControl | https://www.moneycontrol.com/news/business/fame-ii-subsidy-impact-ola-increases-prices-others-e2w-players-expected-to-follow-10723001.html

Address

13th Floor, 1305 1306, Vijaya Building, 17, Barakhamba Road, New Delhi, New Delhi, 110001
Delhi
110002

Opening Hours

Monday	9am - 6pm
Tuesday	9am - 6pm
Wednesday	9am - 6pm
Friday	9am - 6pm

Website

http://www.cwcindia.in/

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