Episode 8 | Amit Agrawal on Driving Value Beyond the Numbers

From Reporting to Value Creation: The Modern CFO

The latest episode of the Finance Chief Podcast welcomes Amit Agrawal, Group Chief Financial Officer at Al Faris Group, for a conversation on strategic finance, leadership and what it takes to become a value-creating CFO. Hosted by Ella Wilkinson, Director at BizClik, the discussion explores Amit's career journey from Tata Steel in India to leading finance functions across heavy industry, logistics, healthcare and private equity in the Middle East.

With more than two decades of experience, Amit shares why finance leaders must look beyond reporting and compliance to become active drivers of business growth, transformation and long-term value creation.

Listen on Spotify [here]
Watch on YouTube [here]

In this episode we explore:

• Why the best finance leaders understand the business as well as the balance sheet
• How private equity changed the way Amit thinks about value creation
• Why spreadsheets should support investment decisions, not dictate them
• Why cash matters more than EBITDA and why the difference still catches people out
• What lean finance actually means and why it isn't about cutting costs
• How to develop future leaders by giving them the question, not the answer

Building a foundation in finance

Amit comes from a family of business owners, but chose not to join the family business. Instead he pursued chartered accountancy and a corporate career, drawn in by early exposure to conversations about profit, capital and investment. His first role at Tata Steel, working in management accounting within the coal mining division, proved transformational – it was there he realised finance isn't just about reporting what happened yesterday, but helping shape what happens tomorrow.

Learning the business behind the numbers

Amit believes the most effective finance leaders understand the business as deeply as they understand the financial statements. Rather than spending most of his time on accounting processes, he immerses himself in operations, customers and strategy. Today, around 75% of his time goes to the business and operational teams, with the rest on finance management. That balance allows him to give meaningful guidance on investment decisions and long-term growth.

The private equity perspective

Joining Global Capital Management, one of the Middle East's largest private equity firms at the time, was a defining moment. Working across buyout transactions, Amit helped establish governance structures, implement balanced scorecards and guide leadership teams through operational improvements. It fundamentally changed how he viewed finance leadership, shifting his focus from risk and compliance toward thinking like an investor, evaluating businesses through value creation and long-term growth.

Why cash matters more than EBITDA

EBITDA remains an important metric, but Amit warns against treating it as a proxy for cash flow. Finance leaders need a relentless focus on working capital, cash conversion cycles, receivables and inventory, understanding how quickly profit converts into cash gives a far clearer picture of financial health, particularly in asset-heavy industries where capital is tied up in equipment and infrastructure.

Developing future leaders

Drawing on the guidance he received early in his career, Amit believes the best leaders empower teams to think independently rather than handing them answers. He encourages employees to analyse situations, identify opportunities and bring their own recommendations forward – a slower process, but one that builds stronger problem-solving and the next generation of strategic leaders. His advice to his younger self would be simple: understand the business first. Financial data provides context, but real value comes from understanding customers, operations, markets and strategy.

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