Draft:CMA Rakesh Bhalla
CMA Rakesh Bhalla is a finance professional and Fellow Member of the Institute of Cost Accountants of India (CMA), with over 36 years of industry experience at SML Isuzu Ltd., formerly known as Swaraj Mazda Limited. During his tenure, he worked across Internal Audit, Taxation, Finance, Accounts, IT, Procurement and Vendor Development, and served as Chief Financial Officer and Chief Risk Officer.
Early Life
CMA Rakesh Bhalla was born on 7th August 1962. He is associated with Patiala and currently resides in Mohali, India.
Education and Professional Qualification
CMA Rakesh Bhalla holds a Bachelor of Commerce (B.Com) degree and is a Fellow Member of the Institute of Cost Accountants of India. He obtained the ICWA qualification, presently known as CMA.
Career
CMA Rakesh Bhalla built a career spanning more than 36 years with SML Isuzu Ltd., formerly Swaraj Mazda Limited. During his long tenure, he served in multiple departments including Internal Audit, Taxation, Finance and Accounts.
He also headed the IT Department at SML for more than five years from 2007 to 2012. From 2019 to 2025, he led Procurement and Vendor Development for more than five years.
He served as Chief Financial Officer and Chief Risk Officer at SML Isuzu Limited up to 30 September 2025, following a post-retirement extension of around five years.
From October 2025 until May 2026, before superannuating from his corporate employment, he was involved in advisory functions as Advisor to the CEO of SML Mahindra, as stated in the provided profile.
SML Isuzu Leadership
CMA Rakesh Bhalla took over as CFO of SML Isuzu in February 2021 during the COVID-19 pandemic period.
According to the provided information, during his leadership:
- Total income increased from ₹596.0 crores in FY 2020–21 to ₹2,405.1 crores in FY 2024–25. Q1 FY 2025–26 income was stated as ₹848.0 crores.
- EBITDA margin improved from -10.7% to +10%. Q1 FY 2025–26 EBITDA margin was stated as 12.6%.
- Profit increased from a loss of ₹133.4 crores in FY 2020–21 to ₹162.4 crores in FY 2024–25. Q1 FY 2025–26 profit was stated as ₹89.6 crores.
- The company's share price increased from ₹452 in March 2021 to more than ₹4,000 in July 2025, according to the provided information.
- Market capitalization increased from ₹654 crores to ₹5,788.65 crores, according to the provided information.
- The company declared a 180% dividend for FY 2024–25.
RBAC Advisory Consortium Pvt Ltd
After his retirement, CMA Rakesh Bhalla started RBAC Advisory Consortium Pvt Ltd to provide single-window business solutions.
He serves as the founder of the company and is associated with its advisory and business solution activities.
Independent Director Registration
CMA Rakesh Bhalla holds a lifetime registration certificate for the Independent Directors' Data Bank maintained by the Indian Institute of Corporate Affairs.
The registration number provided is IDDB-DI-202511-082505.
Professional and Public Service
CMA Rakesh Bhalla has a longstanding association with ASSOCHAM. He serves as Chairman of the Chandigarh Council and is a member of the National Managing Committee of ASSOCHAM.
He is also a Life Member of the Institute of Materials Management (IIMM).
At the Institute of Cost Accountants of India, he served as Vice President from 2022 to 2023 and as a Central Council Member.
He is also involved in public and professional activities in Chandigarh. According to the provided profile, he serves as Convener of the Chandigarh BJP Professional Cell, Co-Convenor of the State Team for Next-Gen GST Reforms, and a member of the BJP Economic Cell.
He is also stated to be a member of the Chandigarh Administrators' Advisory Council and a member of the Standing Committee (Transportation) of Chandigarh.
Awards and Recognition
CMA Rakesh Bhalla has received several professional and industry recognitions.
National Recognition
- CFO of the Year 2024–25 – Excellence in Turnaround, Confederation of Indian Industry (CII), 12 September 2025
- CFO Outstanding Performer Award 2024, Institute of Cost and Management Accountants of India (ICMAI), 23 June 2025
- Distinguished Supply Chain Management & Outstanding CFO Award, Institute of Materials Management (IIMM), 29 November 2024
- India CFO Award 2024, Biz Integration, 16 February 2024
- CMA Achiever Award 2016, Institute of Cost Accountants of India (ICAI), 28 May 2016
International Recognition
- Inspiring CFO 2025 – Indian Automotive Industry Global Excellence & Leadership Awards, Dubai
Special Assignment
CMA Rakesh Bhalla was a member of a business delegation that accompanied Prime Minister Shri Narendra Modi to the BRICS Summit in Rio, Brazil, according to the provided profile.
Professional Expertise
CMA Rakesh Bhalla's professional experience includes:
- Corporate Finance
- Cost Accounting
- Internal Audit
- Taxation
- Finance and Accounts
- Information Technology
- Procurement
- Vendor Development
- Supply Chain Management
- Corporate Risk Management
- Strategic Advisory
- Business Leadership
- Business Solutions
Professional Profile
CMA Rakesh Bhalla is a finance and business professional whose career combines corporate finance leadership with experience in IT, procurement, risk management, advisory services and professional organisation leadership.
His professional experience includes more than three decades with SML Isuzu Ltd., followed by the establishment of RBAC Advisory Consortium Pvt Ltd for single-window business solutions.
Personal Details
- Date of Birth: 7th August 1962
- Residence: #4551, Sector-70, Mohali
- Mobile: 9779010685
- Email: [nancybhalla@yahoo.com](mailto:nancybhalla@yahoo.com)
- Email: [bhalla.rakesh.cma@gmail.com](mailto:bhalla.rakesh.cma@gmail.com)
- Email: [rbac70@gmail.com](mailto:rbac70@gmail.com)