WOM India's Financial Systems Recognised for Industry Excellence with CMA Award

Mint

25-07-2025

Pune, July 25, 2025 — The finance function at Worldwide Oilfield Machine Pvt. Ltd. (WOM India), a critical component of the global WOM Group's engineering operations, has been recognised by the Institute of Cost Accountants of India (WIRC) for its enterprise-wide financial practices. WIRC has conferred its prestigious 'CMA Achievers in Industry' award on the company's Chief Financial Officer, Mangesh Annachhatre, recognising the company's disciplined approach to enterprise-wide controllership, regulatory compliance, and export-oriented financial governance.
The award was presented by CMA WIRC President Arindam Goswami, who praised Annachhatre's 'laser-focused accountability and strategic foresight' in a note accompanying the award. Annachhatre, who has led the finance function at WOM India for over a decade, accepted the honour, noting its relevance to the company's financial ethos. 'This award renews my resolve to push financial boundaries, not just for our company but for India's wider manufacturing ecosystem,' he said. WOM India gets recognition of Financial Leadership
WOM India, based in Pune, designs and manufactures high-performance pressure control equipment—such as gate valves and choke valves—for the global oil and gas sector. Its facility supports vertically integrated operations from raw material processing to assembly and testing, enabling end-to-end control over product quality and delivery timelines. This structure also demands precision in financial planning, inventory management, and export compliance, particularly under India's SEZ and EOU regulatory regimes.
A key pillar of WOM India's success has been its ability to implement forward-looking financial frameworks. The finance team introduced disciplined working capital models to help the company weather currency volatility and commodity price shifts. Regular inventory reconciliations and export receivables hedging mechanisms have helped reduce leakage and protect the company's global revenue streams.
At WOM India, financial discipline goes hand in hand with strategic awareness. The company conducts internal workshops focused on areas like risk management and long-term planning, helping the finance team stay aligned with evolving operational demands. These sessions reflect a broader philosophy within the organisation where financial oversight is seen not as a constraint, but as a contributor to innovation and ethical growth.
'Finance should power innovation, not trail it,' Annachhatre often tells his team, a mindset that has shaped the company's approach to ethics and controllership. At WOM India, financial governance is seen not as a back-end control, but as a foundational element that enables transparency across vendor onboarding, cross-border shipments, and tax frameworks such as GST and FTP incentives.
The award also arrives at a time when global supply chains are under increased scrutiny. With its focus on vertical integration, regulatory discipline, and cross-functional alignment, WOM India continues to demonstrate that financial stewardship is not a support act, it's a competitive advantage.
The company remains an integral part of WOM Group's international operations, which are headquartered in Houston, Texas. Its Pune facility plays a critical role in the group's global supply network by delivering pressure-control equipment used in some of the most demanding upstream energy environments around the world.
For more information, visit www.womgroup.com.
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