Financial Excellence and Strategic Transformation in Defence Manufacturing
Shri Siba Prasad Patnaik serves as Director Finance and Chief Financial Officer of Gliders India Limited, a premier Defence Public Sector Undertaking engaged in the design and manufacture of parachutes, inflatable bridge systems, and rubberised boats for the armed forces. With a distinguished career spanning more than three decades, he exemplifies financial leadership grounded in governance, innovation, and strategic foresight.
A postgraduate in Commerce and a qualified Cost and Management Accountant, Shri Patnaik brings extensive expertise across Finance and Accounts, Treasury Management, Project and Infrastructure Finance, Contract Management, Taxation, Corporate Governance, and enterprise level financial strategy. Prior to assuming charge at Gliders India Limited in April 2025, he served as Chief General Manager Finance at NLC India Limited, a Navratna CPSE. His professional journey includes key leadership roles at NLC India Limited, THDC India Limited, and Jindal Steel and Power Limited, where he contributed significantly at both corporate headquarters and major project locations.
His cross sectoral experience spans Power, Coal Mining, Steel, Renewable Energy, and Defence Production, reflecting his ability to adapt financial frameworks to diverse and complex operational environments while maintaining strong compliance and governance standards.
At Gliders India Limited, Shri Patnaik has strengthened Accounts and Costing systems, enhanced compliance and governance frameworks, and reinforced Internal Financial Controls. He has played a critical role in export price fixation strategies, contributing directly to improved profitability. Earlier in his career, he spearheaded treasury transformation initiatives by introducing market based instruments, executed large scale refinancing and optimized cost of capital through strategic debt structuring, and led ERP implementation including Fixed Assets and Banking modules at THDC India Limited.
At NLC India, he introduced ESG reporting in the financial year 2021 to 2022 ahead of regulatory mandates and played a pivotal role in the company’s strategic expansion into renewable energy through detailed financial feasibility and viability assessments. His introduction of Sales Bill Discounting significantly reduced receivables from approximately nine thousand crore rupees to four thousand five hundred crore rupees. He also contributed to strategic contract modifications that enabled liquidity infusion and timely completion of renewable energy projects, supporting MSME vendors.
Beyond financial restructuring, Shri Patnaik has championed employee centric initiatives. At Gliders India Limited, he introduced a competitive Corporate Salary Package without imposing additional cost on the company or employees. At NLC India, he was instrumental in migrating pension funds to the National Pension System without withdrawal charges, ensuring long term financial security for employees.
His leadership has been recognized through multiple accolades, including the NLC Excel Award in 2022 for Treasury and Working Capital Optimization. He received management appreciation for refinancing over twelve thousand five hundred crore rupees and reducing financing costs by three percent per annum, as well as recognition for reducing non fund based financing charges resulting in annual savings of over two crore rupees. He was also acknowledged for ensuring smooth migration to Corporate NPS with waiver of withdrawal charges.
Beyond corporate responsibilities, Shri Patnaik has demonstrated strong social commitment. He volunteered during the Kedarnath floods in 2013, served on the Standing Committee for Emergency Procurements during the COVID nineteen pandemic, and contributed as Honorary Treasurer of Jawahar Education Society in Neyveli, supporting an institution serving more than ten thousand students and five hundred staff members.
Looking ahead, his strategic priorities include creating a comprehensive digital financial ecosystem, optimizing working capital facilities, enhancing financial reporting and governance standards, and strengthening the company’s brand through responsible stakeholder engagement.
Through disciplined stewardship, strategic clarity, and a people centric approach, Shri Siba Prasad Patnaik continues to drive financial transformation and sustainable growth within India’s defence manufacturing ecosystem.
