When DOMS Industries planned to go public, Rahul Shah played a pivotal role in steering the company through its initial public offering (IPO). Appointed as the Chief Financial Officer (CFO) in 2022, Rahul’s strategic oversight was crucial in the company’s ambitious effort to raise Rs. 1,200 crore. The initial public offering (IPO) comprised a new share issuance of Rs. 350 crore alongside an offer for sale (OFS) of up to Rs. 850 crore. Rahul’s meticulous planning and financial expertise ensured the success of this major financial milestone.
Rahul was instrumental in determining the strategic allocation of the IPO funds. A significant portion, around Rs. 450 crore, was dedicated to investments in writing instruments, a new product category for DOMS Industries. Out of this, approximately Rs. 350 crore came from fresh issues. The allocation included Rs. 280 crore for expanding and enhancing writing instrument manufacturing facilities and Rs. 70 crore for the Retail Growth and Capitalization Plan (RGCP). Despite the challenges posed by the COVID-19 pandemic, the company achieved remarkable revenue growth, reaching Rs. 1,211 crore in 2023, reflecting a growth rate of around 77%. This success underscores Rahul’s effective financial leadership.
As the CFO, Rahul is responsible for overseeing DOMS Industries’ financial health. His role includes managing financial operations, budgeting, financial planning, and ensuring compliance with regulatory requirements. With a strong financial analysis, risk management, and strategic decision-making background, Rahul has been instrumental in navigating the company through various economic landscapes.
Rahul’s strategic mindset is evident in DOMS Industries’ robust financial performance. The company has consistently maintained EBITDA margins between 15 and 16%, a testament to Rahul’s balanced approach of “nothing at the cost of market and nothing at the cost of margin.” This philosophy ensures that while the company strives for growth, it does not compromise on its financial integrity.
Under Rahul’s financial leadership, DOMS Industries has achieved a compound annual growth rate (CAGR) of about 20% over the last decade. His vision is to drive the company’s top-line revenue growth to 25% by the end of FY24, aiming for an ambitious Rs. 1,500 crore in revenue. This growth trajectory is supported by strategic investments in capacity building, particularly in the writing instruments segment, and a new 44-acre project that promises to boost production capabilities further.
Rahul’s focus on leveraging the brand, product, and distribution network has enhanced revenue while preserving the margin profile. His strategic initiatives include exploring new product categories and diversifying into office stationery, liquid glue, paper, and books, ensuring that DOMS Industries remains at the forefront of the Indian stationery and art materials market.
Rahul’s impact extends beyond financial metrics; he has significantly influenced the corporate culture at DOMS Industries. His emphasis on transparency and open communication has fostered an environment where employees feel valued and heard. Regular town hall meetings, feedback sessions, and transparent reporting mechanisms have become the norm, encouraging a culture of openness and mutual respect.
Ethical practices are at the core of Rahul’s leadership. He ensures that all financial operations are transparent, compliant, and aligned with legal standards, setting a strong example for the entire organization. This commitment to integrity fosters a culture of trust and ethical conduct, which is essential for sustained corporate success.
Rahul is a proponent of innovation and adaptability. He encourages employees to think creatively and explore new ideas, making DOMS Industries a hub of continuous improvement and agility. This forward-thinking approach is complemented by substantial investments in employee development programmes, including training, skill-building workshops, and mentorship opportunities. Rahul firmly believes that a skilled and motivated workforce is vital for maintaining the company’s growth momentum.
Collaboration across departments is another hallmark of Rahul’s leadership. By fostering cross-functional teamwork, he ensures that diverse perspectives are integrated into decision-making processes, leading to better outcomes and a stronger sense of collective achievement.
Rahul is a staunch advocate for sustainability and diversity within DOMS Industries. He integrates sustainability into the company’s business strategy, emphasising the importance of environmental and social governance. By adopting globally recognised sustainability reporting frameworks, the company measures and reports on key indicators such as carbon emissions, water usage, and social impact, thereby fostering long-term value creation and resilience.
Rahul’s commitment to diversity and inclusion is equally commendable. He champions an inclusive culture where people from diverse backgrounds can thrive, ensuring that equal opportunities are available to all employees. This inclusive approach enhances the workplace environment and drives innovation and creativity.
Rahul’s contributions to DOMS Industries extend beyond his financial expertise. His strategic initiatives, ethical leadership, and commitment to fostering a positive corporate culture have positioned the company for continued success. With a clear vision for the future, including ambitious revenue targets and strategic expansions, Rahul is set to lead DOMS Industries towards new heights of achievement.
In summary, Rahul embodies the qualities of a visionary leader whose financial stewardship, ethical principles, and strategic insights are pivotal to DOMS Industries Ltd’s ongoing success and growth. His holistic approach ensures that the company thrives financially and remains a respected and innovative leader in the industry.
