Prantik Ray

Finance · XLRI Jamshedpur

Prantik Ray

I teach finance at XLRI and write the textbooks I wish my students had. Away from the classroom, I write about films, books and television.

Prantik Ray
01Books

Textbooks written for Indian MBA classrooms

Five books, all set in rupees, Ind AS and the Companies Act 2013 rather than dollars and US GAAP. Each one grew out of a course I teach.

In print · Notion Press

Hardcover and paperback, delivered across India
Cover of Structured Finance
New · October 2026

Structured Finance

How structured deals are built, priced, rated and regulated

India's securitisation market hit a record ₹2.55 lakh crore in FY2026, yet most textbooks on the subject are written for American and European markets. This one works through pass-through certificates, priority-sector pool buyouts and InvITs under Indian law and regulation, alongside the international deals that shaped the field.

Notion Press498 pagesHardcover · PaperbackISBN 979-8908347167
Buy on Amazon ↗
Cover of Security Analysis and Portfolio Management

Security Analysis and Portfolio Management

An Indian Perspective for MBA Students

Fifteen chapters on what a share is worth, from economy and industry analysis to dividend discount, free cash flow and multiples, with sector chapters on banks, IT, FMCG and pharma.

Notion Press544 pagesHardcover · Paperback
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Cover of Corporate Accounting and Finance

Corporate Accounting and Finance

A Rigorous Introduction for MBA Students

Twenty-seven chapters that follow a single transaction all the way from the journal entry to valuation, risk and capital decisions.

Notion Press314 pagesHardcover · Paperback
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Cover of Financial Accounting for Business Managers

Financial Accounting for Business Managers

Recording, Reporting and Reading the Numbers

A practical course built on Schedule III, with a manager's reading of every topic and full worked solutions to every exercise.

Notion Press177 pagesHardcover · Paperback
Buy on Amazon ↗

On Kindle

Read instantly, or free with Kindle Unlimited
Cover of Accounting for HR Managers

Accounting for HR Managers

Financial Statements and Their Analysis

Financial and cost accounting for HR leaders, so a pay proposal or headcount plan can hold its own when finance asks whether it's affordable.

Kindle edition345 pagesFree on Kindle Unlimited
Buy on Amazon ↗
02Teaching

Two decades in the finance classroom

I've been on the finance faculty at XLRI – Xavier School of Management since 2007, teaching on the BM and GMP programmes. My electives include Security Analysis and Portfolio Management.

I also run executive programmes for working managers. The most recent was a three-day Finance for Non-Finance programme at XLRI's Delhi-NCR campus in February 2026, with participants from a wide mix of companies. Before academia I was a business journalist at The Economic Times, which is where I learnt to explain money plainly.

At XLRI since
2007
Area
Finance
Training programmes
200+
Earlier
FORE, Army Institute of Management, IRMA
03Training

In the room with working managers

Executive programmes at XLRI's Jamshedpur and Delhi-NCR campuses, many of them for Tata Steel. Each group photo is a cohort, newest first.

ICP on Getting Ready for Steel Industry, Tata Steel, Jamshedpur, Aug 2026: group photo of participants with Prantik Ray
ICP on Getting Ready for Steel Industry, Tata SteelJamshedpur
Finance for Non-Finance Managers, Delhi-NCR, Feb 2026: group photo of participants with Prantik Ray
Finance for Non-Finance ManagersDelhi-NCR
ICP on Getting Ready for Steel Industry, Tata Steel, Jamshedpur, Jun 2025: group photo of participants with Prantik Ray
ICP on Getting Ready for Steel Industry, Tata SteelJamshedpur
Finance for Non-Finance Managers, Delhi-NCR, Feb 2025: group photo of participants with Prantik Ray
Finance for Non-Finance ManagersDelhi-NCR
ICP on Sustainability Finance, Tata Steel, Jamshedpur, Aug 2023: group photo of participants with Prantik Ray
ICP on Sustainability Finance, Tata SteelJamshedpur
ICP Knowledge Sessions, Tata Steel, Jamshedpur, Dec 2022: group photo of participants with Prantik Ray
ICP Knowledge Sessions, Tata SteelJamshedpur
Knowledge Sessions, Tata Steel, Jamshedpur, Feb 2018: group photo of participants with Prantik Ray
Knowledge Sessions, Tata SteelJamshedpur
Knowledge Sessions, Tata Steel, Jamshedpur, Oct 2017: group photo of participants with Prantik Ray
Knowledge Sessions, Tata SteelJamshedpur

From the classroom

Opening the programme, Delhi-NCR, Feb 2026
Opening the programme, Delhi-NCR, Feb 2026
Lighting the lamp on day one, Feb 2026
Lighting the lamp on day one, Feb 2026
Certificate day, Feb 2026
Certificate day, Feb 2026
Participants working through a case, Feb 2026
Participants working through a case, Feb 2026
With the cohort after the last session, Feb 2026
With the cohort after the last session, Feb 2026
Taking questions, Delhi-NCR, Feb 2025
Taking questions, Delhi-NCR, Feb 2025
Senior managers in the classroom, Feb 2025
Senior managers in the classroom, Feb 2025
Closing the 2025 programme
Closing the 2025 programme
Inaugurating the 2026 programme
Inaugurating the 2026 programme
04Webinars

A monthly webinar for the Tata Steel Finance Academy

Every month I take finance teams across Tata Steel through what's moving their numbers, from tariffs and carbon prices to geopolitics. Sessions run live on Teams, usually with more than 100 people on the call.

Screen from the webinar: Climate and transition finance for steel

Climate and transition finance for steel

Why transition finance is now a requirement for the steel sector, and the instruments that fund it.

Screen from the webinar: Two carbon prices, one balance sheet

Two carbon prices, one balance sheet

What the EU's CBAM and India's CCTS together mean for steelmakers' costs and margins.

Screen from the webinar: Steel industry outlook

Steel industry outlook

The global and Indian steel industry: the macro backdrop, decarbonisation and India's rise.

Screen from the webinar: Geopolitics and the outlook for 2026–27

Geopolitics and the outlook for 2026–27

How a shifting world order changes the forecasts a finance team has to make.

Screen from the webinar: Corporate sustainability: issues and challenges

Corporate sustainability: issues and challenges

The hard trade-offs companies face in trying to meet their sustainability goals.

Screen from the webinar: Trade, tariffs and the steel industry

Trade, tariffs and the steel industry

A two-and-a-half-hour national session with more than 200 participants.

05Conversations

On camera with Xplore by XLRI

Roundtables with senior industry leaders, recorded by Xplore, XLRI's CXO club. I moderate and take part.

  • Silence and leadership: can staying quiet be the right business decision?

    Watch ↗

    When silence gets read as a position anyway, what should decide whether a company speaks? With Vijaya Kadiyala, Ananth Srinivas, Sunil Venkatesh, Sekhar Guduru, Ajay Jain, Aqueel Merchant and others.

  • Can a business stay neutral any more?

    Watch ↗

    From Indian conglomerates picking sides to Nike and Colin Kaepernick, on whether corporate positions are principles or calculations. With G S S Jagannath, Ajay Jain, Sridhar Sampathirao, Sekhar Guduru and others.

  • What skills will decide career success in India's next phase of growth?

    Watch ↗

    On pairing a second skill with your first: finance with data, tax with law, HR with compliance. With Lt Col Pragathi Kumar Achanta, Gopinath Koneti, Maruthi Amardeep Sri Vatsavaya, Naz Mir and others.

  • Why people stay silent, and what it takes to say the hard thing

    Watch ↗

    With Meenakshii Dubey, Bhavesh Lakhani, Dr Rajorshi Ganguli, Samiran Sarkar, Amit Jaju and Devendra Rane.

  • Invisible contribution: the work that metrics miss

    Watch ↗

    With Saptarshi Bhattacharya, Rajesh Prabhu, Khushru Mistry, Karthick Venkatakrishnan, Avinash Kaul and Kamlendra Srivastava.

  • What will India reward next? From selling to India to innovating with India

    Watch ↗

    With Maruthi Amardeep Sri Vatsavaya, Bala Prasad Peddigari, Lt Col Pragathi Kumar Achanta, Naz Mir and others.

  • Can India grow without fixing its bureaucracy?

    Watch ↗

    On how transparency, simpler processes and openness to new ideas shape where India's next wave of investment goes. With Shiv Malhotra, Sasikiran M., Naz Mir, Srinivas Rao Mahankali and others.

06Culture Speak

Culture Speak

My blog on film, books, television and travel. I write when something stays with me after the credits.

Read the blog ↗

07Contact

Training, teaching or a book enquiry

Write to me about executive programmes, guest sessions or bulk orders of the books for your course.