Leading JB Ecotex’s financial transformation, Naman Shah (Group CFO) brings a rare blend of multidisciplinary expertise and strategic foresight. Armed with a chartered accountancy, an MBA in finance, a law degree, and a commerce background, Naman navigates complex financial landscapes with precision and legal clarity. With over 20 years of experience, Naman has a proven track record in spearheading IPO execution, M&A, and capital structuring that maximises stakeholder value. His leadership has been pivotal in reshaping JB Ecotex’s capital framework and embedding robust financial controls, laying a strong foundation for sustainable growth and innovation. Known for his sharp business acumen and precise execution, Naman exemplifies the modern CFO as a strategic architect of long-term value creation. How? Let’s learn here.
How has your multidisciplinary background shaped your approach to financial leadership?
My multidisciplinary background—CA, MBA in Finance, LLB, and B. Com—gives me a holistic approach to financial leadership. The finance and accounting skills drive analytical, datadriven decisions, while my legal acumen helps proactively navigate compliance, regulatory requirements, and risk. Meanwhile, my commerce foundation grounds me in practical business insights, ensuring that financial strategies align with operations. This integrated perspective bridges the gap between numbers, governance, and execution, enabling me to design strategies that are financially sound, legally secure, and operationally effective.
You’ve worked on IPOs, investor relations, and corporate strategy. What guides you when presenting a company’s story to external stakeholders?
When presenting a company’s story, I prioritise authenticity, clarity, and consistency. Whether it’s an IPO pitch or an investor call, the narrative must be grounded in solid data while inspiring confidence in the company’s vision. Transparency in disclosures, confident delivery, and honest acknowledgement of risks build credibility. My goal is not just to secure capital but to earn lasting trust. I also ensure that the story highlights the company’s culture, ESG values, and long-term roadmap—not just the numbers.
What does good governance mean in today’s ESG-driven, sustainability-first landscape?
Good corporate governance in today’s ESGdriven world means fostering a values-based culture where ethics, transparency, and environmental responsibility shape every decision. At JB Ecotex, governance bridges our sustainability mission with execution, ensuring our commitment to ESG principles—planet, people, and performance—is embedded through strong controls, stakeholder engagement, and systems designed for long-term impact.
What are JB Ecotex’s future plans, and how will you ensure smooth execution?
JB Ecotex Limited is strategically poised to lead India’s circular economy with its unique mechanical and chemical PET recycling capabilities with an installed capacity of 118,800 MTPA. Our phased expansion aims to add 34,560 MTPA of food-grade rPET resin and 36,000 MTPA of PET flakes by FY 2026–27, followed by entry into South India with 18,000 MTPA of RPSF and 34,560 MTPA of food-grade rPET by FY 2027–28—raising total capacity to around 242,000 MTPA. Aligning with India’s recycled plastic mandates, we are tailoring our product mix for compliance and growth. To ensure smooth execution, we are deploying automation, data analytics, and real-time monitoring to enhance productivity, quality, and operational efficiency throughout this journey.
What were the key financial challenges you faced when joining JB Ecotex, and what strategies helped turn those into opportunities for growth?
When I joined JB Ecotex, the company was at a pivotal growth stage with aspirations for scale and long-term expansion. To fuel the next phase, it was imperative to move beyond traditional debt financing and prepare the organisation for equity fundraising—an area where I could leverage my past experience. At that time, the company was transitioning from being promoter-driven to professionally managed—where the deep business experience of the promoters would be complemented by the strategic and operational capabilities of seasoned professionals. This also meant shifting from a people-driven to a processdriven organisation. Key challenges included building a future-ready leadership team, instituting industry benchmarks, and embedding robust financial controls. We undertook corporate restructuring, streamlined SOPs, and adopted best practices. With unwavering promoter support, these efforts laid a strong foundation for sustainable growth, innovation, and future fundraising readiness.
"Good corporate governance in today’s ESG-driven world means fostering a values-based culture where ethics, transparency, and environmental responsibility shape every decision."
How has your corporate strategy expertise advanced JB Ecotex Limited’s long-term vision?
Leveraging my corporate strategy expertise, we integrated JB rPET Industries as a wholly-owned subsidiary, merging mechanical and chemical recycling technologies. This synergy enhances JB Ecotex’s product portfolio and strengthens our leadership in India’s circular economy. Together, we deliver innovative, sustainable solutions that transform PET waste into high-purity recycled materials—advancing our long-term vision of driving sustainability and meeting the growing demand for environmentally responsible products.
What’s your vision for financial leadership in India and the CFO’s role in shaping inclusive, resilient growth?
The future of financial leadership in India requires CFOs to evolve beyond being mere gatekeepers to becoming visionary strategists and catalysts for change. Today’s CFOs must combine profound business insight with advanced technology and AI—leveraging data analytics and tools like Power BI to drive informed decisions. By integrating ESG principles into financial strategy, they drive innovation and foster transparency. These leaders are poised to manage emerging risks, enable technology-led growth, and create inclusive, value-driven frameworks—paving the way for a sustainable and equitable future.
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