In a world filled with challenges and uncertainties, hope is often the beacon that guides individuals toward their dreams. It inspires people to persevere through adversity and believe in their potential. Mayannk Jain embodies this spirit of hope, having navigated the ups and downs of life with unwavering determination. Growing up, he witnessed the struggles of those around him, which fueled his desire to create a better future not only for himself but also for his community.
Today, Mayannk is a dynamic and seasoned C-suite executive whose expertise in financial leadership makes him one of the most influential figures to follow. Based in Gurgaon, India, with a rich career spanning more than two decades, Mayannk has made his mark across top global corporations, including the Big Four accounting firms. His journey from managing financial transactions to shaping high-level business strategies places him at the forefront of modern financial leadership, with a focus on operational excellence, mergers and acquisitions (M&A), and corporate development.
Being a grounded leader, Mayannk credits all his success to divinity and “In my gratitude, I would like to thank God and my beloved Guruji, whose blessings have always been the source of all my achievements.”
Umesh Munjal – Mayannk’s Pillar of Success
Umesh Munjal, born on September 8, 1951, hails from a family deeply rooted in business and philanthropy. He completed his education at St. Joseph’s School, Dehradun, and The Punjab Public School, Nabha, before graduating from Punjab University, Chandigarh. As the son of the renowned industrialist and devout Arya Samaj leader, Mr. Satyanand Munjal, Umesh grew up with strong values of hard work, integrity, and social responsibility. His father was the President of the All India Arya Samaj Organization and Vice President of the DAV Foundation, and Umesh has continued this legacy of excellence and commitment.
In 1974, Umesh joined his family business, focusing on manufacturing bicycle and auto components. His leadership journey began with the management of Highway Industries Limited, a unit of the Hero Group. Since taking over as Managing Director, he has single-handedly transformed the company into a leading manufacturer of auto components. Under his guidance, Highway Industries now operates three units in Ludhiana, one in Pune and one near Gurgaon, employing over 4,200 workers. His leadership has ensured that these facilities are not only efficient but also environmentally conscious, maintaining pollution-free, clean, and green operations.
Highway Industries has grown significantly under Umesh’s leadership. The company produces components such as crankshafts, arm kick assemblies, and steering shafts, which are used by some of the most prestigious automobile manufacturers worldwide, including General Motors, Ford, Chrysler, Mercedes, BMW, Audi, and Porsche. Japanese automakers such as Toyota, Honda, and Nissan also rely on Highway’s products. Through long-term agreements with Original Equipment Manufacturers (OEMs) in the USA, Canada, Mexico, and Europe, Umesh has expanded the company’s global footprint.
Umesh Munjal’s success in the business world is marked by numerous accolades. He was recognized at the Transforming India Conclave by Think Media Inc. for his outstanding contributions to corporate growth and social transformation. Under his leadership, Highway Industries has received several prestigious awards, including the ACMA Atmanirbhar Excellence Award 2021 (Gold for Corporate Level Excellence in Export), the CII National Kaizen Competition awards, and the CICU National Kaizen Competition honours.
There are several rewards and recognitions won under Umesh’s guidance: –
- CICU National Kaizen Competition, 2023: – Silver Award.
- CII 5th National Kaizen Circle Competition, 2022: – 1st Runner Up.
- 13th Edition of CII National 3M Competition, 2022: – SILVER Award in MUDA Category.
- ACMA Atmanirbhar Excellence Awards 2021 Winner: – GOLD Award for Corporate Level- Excellence in Export.
- ACMA 2nd National Kaizen Competition, 2021: – 2nd Position.
- 12th CII National Poka Yoke 2023 (2 Gold Awards).
- CICU 6th Poke-Yoke Kaizen Competition, 2021: – GOLD Award.
- CICU 6th Poke-Yoke Kaizen Competition, 2021: – SILVER Award.
- CICU 13th National Kaizen Competition, 2021: – Silver Award.
- CICU 6th Poke-Yoke Kaizen Competition, 2021: – Bronze Award (2 times).
- CICU Poke-Yoke Kaizen Competition, 2021: -GOLD One Time, SILVER Award (2times).
Beyond his business acumen, Umesh’s deep sense of social responsibility stands as one of his most defining qualities. Having inherited the philanthropic spirit of his father, Umesh is deeply committed to giving back to society. He is actively involved in managing schools, cultural organizations, and several industrial bodies, including CII, ACMA, and CICU. His charitable work extends to numerous causes, such as donating to the Prime Minister Relief Fund, Dayanand Medical Hospital & College, and Ek Prayaas—an institute for children with special needs.
One of Umesh’s most impactful contributions has been the adoption and maintenance of a government school in Khakat Kalan, where he developed a playground and park for the children. His dedication to youth development is further evidenced by his donation of 1,000 sports kits to various youth clubs in Punjab, aimed at keeping young people away from drugs and encouraging grassroots sports initiatives. Here are a few donations made by him in the last year:
- Prime minister relief fund.
- Dayanand Medical Hospital & Collage.
- Ek Prayaas – An Institute for Children with Special Needs.
- Noble Foundation.
- Adopted a Government school at Khakat Kalan and maintained its Playground and Park.
- He also generously donated 1000 sports kits to various youth organizations or youth clubs in Punjab to keep the youth away from drugs and to be a catalyst in bringing about a revolution in sports at the grassroots level.
- He has also donated generously to the solar system, which is being installed near the Police station.
- He has also donated an Electric Furnace for Cremation during the Corona period.
Umesh has also been instrumental in supporting sustainable development initiatives. He donated generously for the installation of a solar system at a nearby police station and provided an electric furnace for cremations during the COVID-19 pandemic, demonstrating his compassion and foresight in addressing critical community needs.
Umesh’s journey is a remarkable story of business success intertwined with a deep sense of social responsibility. His leadership of Highway Industries has not only contributed to the economic growth of the region but also to the well-being of the communities he serves. Through his philanthropy and business achievements, Umesh Munjal continues to be a pillar of success and an inspiration to future generations.
A Multifaceted Leader in Finance
Mayannk’s career is rooted in his comprehensive understanding of financial management, which extends from financial planning and analysis to investor relations, fundraising, and corporate development. As a Chartered Accountant, Mayannk brings with him an in-depth knowledge of business functions, corporate finance, and the intricacies of mergers and acquisitions. His strategic mindset is key to his ability to drive growth, sustainability, and profitability for the organizations he leads.
Currently serving as the Chief Financial Officer (CFO) at Highway Industries Limited, a prominent arm of the Munjal Group, Mayannk has been instrumental in leading financial and operational improvements for the company. Highway Industries, led by Mayannk, has soared to new heights, particularly in the areas of budgeting, working capital optimization, and cost reduction, and boasting a current turnover of over ₹1200 crores while setting its sights on reaching ₹2000 crores by 2028. He has also overseen important corporate initiatives such as pre-IPO readiness assessments, investor discussions, and the strengthening of internal controls and ERP systems. His contributions to the financial stability and operational efficiency of the company are a testament to his leadership skills and business acumen.
One of Mayannk’s core strengths is his ability to partner effectively with senior leadership teams and C-suite executives. Throughout his career, he has been a trusted advisor on high-stakes financial decisions, business modelling, and risk assessments. His extensive experience in working across industries like auto components, steel, IT services, and distressed assets under India’s Insolvency and Bankruptcy Code (IBC) has enabled him to understand the nuances of different business environments. This cross-functional expertise makes Mayannk not just a financial expert but also a strategic business leader who can steer companies through complex challenges and opportunities.
On the Highway of Success
Led by the dynamic Director Duo Amol Munjal and Ankur Munjal, Highway Industries Limited, established in 1971, has travelled a remarkable journey toward success. Starting as a modest venture, it has grown into a dynamic and diversified company with a focus on cold and hot forging and machining. Today, Highway Industries operates five state-of-the-art units: three in Ludhiana, one in Pune, Maharashtra, and another near Gurgaon. With a dedicated workforce of over 4,200 employees and an impressive annual turnover of USD 140 million, the company stands as a leading player in the automotive and engineering industries.
The growth and expansion of Highway Industries have been driven by a commitment to innovation, quality, and sustainability. The company has earned a series of certifications that reflect its dedication to excellence across various domains. It is certified for the Energy Management System ISO 50001:2018, Environment Management System Standard ISO-14001:2015, Occupational Health and Safety Management System standard OHSAS 45001:2018, ISO 27001:2013 for information security, and ISO 14064 for greenhouse gas emissions and removals, which is currently under implementation. These certifications demonstrate the company’s responsibility toward energy efficiency, environmental preservation, and the well-being of its employees.
Equipped with cutting-edge forging presses, modern machinery, and advanced testing equipment, Highway Industries is capable of producing components for two-wheelers, three-wheelers, and four-wheelers. Its technical expertise allows the company to manufacture a wide range of products, including crankshafts, arm kick assemblies, connecting rods, flanges, and steering shafts. Additional products such as bells, tulips, midship tubes, shafts, rotors, and spline yokes are also a part of its comprehensive portfolio.
Highway Industries serves an impressive array of clients, both domestically and internationally. Domestically, its major customers include renowned names such as Hero MotoCorp Ltd., International Tractors Ltd., LG Electronics India Ltd., and Sona Koyo Steering Co. Ltd. The company’s reputation extends beyond India, with exports to Canada, the USA, and Europe. Overseas clients include prestigious organizations such as ArcelorMittal Tubular Products (Canada), ZF Steering Systems LLC, and Knorr-Bremse Systèmes, to name a few.
The company’s continued success is evident in the ever-increasing business inquiries it receives from renowned automobile and engineering industries around the globe. This growing interest underscores the confidence that clients and partners have in Highway Industries’ capabilities and its unwavering commitment to delivering high-quality products and services.
By embracing innovation and maintaining a strong focus on sustainability and quality, Highway Industries Limited is paving the way for continued growth and success. Its journey from a single unit to a global player is a testament to the company’s forward-thinking approach and dedication to meeting the evolving needs of the automotive and engineering sectors. As Highway Industries continues to expand its global footprint, it remains committed to upholding its legacy of excellence while shaping the future of the industries it serves.
A Proven Track Record in Deal Advisory and M&A
Mayannk’s deep involvement in M&A and private equity transactions has shaped his reputation as a finance professional with a unique ability to drive successful outcomes in high-stakes deals. His tenure at PricewaterhouseCoopers (PwC) as a Business Controller, FP&A Leader, and Director of Deal Advisory provided him with an excellent platform to lead and manage key transactions for global brands. During this time, Mayannk was responsible for overseeing buy-side and sell-side due diligence, working closely with strategic and private equity clients to navigate mergers, acquisitions, and corporate carve-outs.
One of his notable achievements at PwC includes his role as a finance business partner during the global COVID-19 pandemic, where he successfully led domestic and overseas transactions under challenging market conditions. He was also instrumental in the acquisition of India operations for global companies like Volvo IT, the strategic acquisition of John Players by Reliance Retail, and the equity investment in Zomato by Alipay. His work on the cross-border acquisition of a US-based billet manufacturer for ALBA, one of the largest aluminium smelters in the GCC, further highlights his expertise in international transactions.
Mayannk’s work in deal advisory goes beyond traditional M&A to include restructuring distressed assets, a skill that has proved invaluable in complex financial environments. He has led numerous deals under IBC regulations, including high-profile clients like Arcelor Mittal and Motherson Sumi. His ability to evaluate distressed assets, develop turnaround strategies, and advise on acquisitions has been a critical factor in his success in this field. Moreover, Mayannk’s proficiency in vendor due diligence (VDD), financial modelling, and business analysis have consistently resulted in optimized outcomes for his clients and stakeholders.
Driving Continuous Improvement and Innovation
A core aspect of Mayannk’s leadership is his commitment to continuous improvement and operational excellence. At Highway Industries, he implemented key cost-reduction strategies and developed innovative solutions for improving plant-wise profitability, cost allocation, and product costing. His turnaround strategy for low-margin or loss-making plants has been particularly impactful, driving improved financial performance across multiple operational units.
Mayannk’s approach to finance is not only about numbers but also about leveraging data-driven insights to inform strategic decision-making. He has consistently demonstrated his ability to analyze complex financial data and translate it into actionable strategies that contribute to business growth. This was evident during his time at PwC, where he introduced new processes to control working capital, reducing lock-in periods by 30 days and playing an integral role in increasing revenues and net margins.
His analytical prowess is complemented by his ability to lead cross-functional teams and collaborate effectively with internal and external stakeholders. As a senior negotiator and business partner, Mayannk has successfully handled difficult conversations, balanced conflicting priorities, and contributed to the development of long-term business plans. His tact and diplomacy, combined with his strong financial acumen, make him a trusted advisor in any boardroom.
The Origin of an Oracle
Mayannk’s journey didn’t just begin with a passion for technology but was deeply rooted in his formative years at Modern School Barakhamba Road, New Delhi. His solid academic foundation extended through Symbiosis College of Arts & Commerce, Pune, where he was an Executive Body Member of AIESEC Pune, fostering his leadership abilities early on. Exposure to diverse cultures through mentorships at PwC and KPMG India, UK, and Bahrain played a pivotal role in shaping his core values of mutual respect and inclusivity. His global exposure in the UK and GCC further refined his worldview, complementing his natural curiosity and technological aptitude.
During his college years, Mayannk immersed himself in technology, often burning the midnight oil troubleshooting and brainstorming innovations. After graduating with honors, his professional journey in tech began with challenges. But his resilience and determination helped him overcome doubts and thrive, building a career defined by hope, hard work, and a passion for inclusivity in diversity.
Overcoming Challenges
The early years of Mayannk’s career were marked by steep learning curves. He was tasked with complex projects that required him to adapt quickly and think critically. There were times when he felt overwhelmed, battling self-doubt and the fear of failure. One particular project tested his limits: he was leading a team responsible for developing a software solution for a high-profile client. The stakes were high, and any misstep could jeopardize not only the project but also the company’s reputation.
As the deadline approached, unexpected technical issues arose, and tensions ran high among the team members. Mayannk realized that he needed to step up as a leader. Drawing from his experiences, he initiated open discussions, encouraging his team to share their concerns and brainstorm solutions collaboratively. This approach fostered a sense of camaraderie and resilience among the group, allowing them to tackle the challenges head-on. Together, they worked long hours, fueled by determination and a shared goal. In the end, they delivered a successful project, earning accolades from both the client and upper management. This experience taught Mayannk the importance of teamwork and effective communication in overcoming challenges.
Professional Life
As Mayannk continued to excel in his career, he embraced opportunities for growth. He took on various roles within the company, each offering new challenges and responsibilities. His dedication and innovative thinking caught the attention of senior management, leading to promotions and recognition in the industry. Mayannk became known for his ability to navigate complex problems and implement effective solutions, earning respect from his peers and mentors.
Despite his professional success, Mayannk never lost sight of the values instilled in him during his upbringing. He remained committed to giving back to the community that had shaped him. He volunteered his time to mentor young students interested in technology, sharing his knowledge and experiences to inspire the next generation. Mayannk understood that the path to success is not just about personal achievement; it’s also about lifting others along the way.
Hope for the Future
As he progressed in his career, Mayannk began to envision a future where technology could address some of society’s most pressing challenges. He became passionate about using his skills to make a positive impact, particularly in areas like education and healthcare. He started exploring ways to leverage technology to create solutions that would empower underserved communities.
Mayannk’s vision was to develop accessible educational tools that could reach students in remote areas, providing them with resources and opportunities that they otherwise might not have. He also sought to explore how technology could enhance healthcare delivery, particularly in rural regions where access to medical services was limited. His commitment to innovation and social impact became the driving force behind his work.
Advice for Others
Reflecting on his journey, Mayannk offers valuable advice to those embarking on their own paths. He emphasizes the importance of resilience and adaptability. “There will be challenges,” he says, “but it’s how you respond to them that defines your journey. Embrace failure as a learning opportunity and keep pushing forward.”
Mayannk’s passion for fostering a diverse and inclusive team is evident in his commitment to working with individuals from diverse cultures, including those from small towns. He encourages others to seek mentorship and build strong networks, understanding that collaboration and support are crucial in any profession.
Mayannk also advocates for the importance of giving back. He believes that success is not solely measured by personal achievements, but by the positive impact, one can have on others. “Find ways to lift others as you climb,” he advises. “Whether it’s through mentoring, volunteering, or sharing your knowledge, make it a part of your journey.”
Looking Ahead: Why Mayannk Jain is One to Watch in 2024?
In a rapidly evolving financial landscape, leaders like Mayannk are crucial to navigating the challenges and opportunities that lie ahead. His track record of delivering results in high-pressure situations, his expertise in M&A and corporate finance, and his unwavering commitment to operational excellence set him apart as a finance leader to follow in 2024.
Mayannk’s vision for the future is centred around driving sustainable growth, fostering innovation, and strengthening financial governance in the companies he leads. His experience across industries and geographies positions him as a thought leader who can provide invaluable insights into the future of corporate finance, private equity, and strategic business development.
As we move into the future, Mayannk Jain’s influence will continue to grow, particularly as businesses seek strong financial leadership to navigate an uncertain global economy. His combination of financial expertise, strategic foresight, and leadership skills make him an ideal role model for aspiring finance professionals and a key figure to watch in the coming year.
For more information, please connect with Mayannk via email at mayank2000@gmail.com or call him @+919810274702/9999111057.
