Accounts and Finance Head

Educational Qualifications

• Chartered Accountant (CA)

Experience

• 12-18 years of progressive experience in finance and accounting within fertilizer manufacturing.
• Minimum 5 years in a plant finance leadership role.
• Experience in fertilizer, chemicals, petrochemicals, process manufacturing, or similar industries preferred.
• Strong exposure to cost accounting, plant operations, inventory management, and statutory compliance.

Key Responsibilities

1. Financial Accounting & Reporting

• Maintain accurate books of accounts for the manufacturing unit.
• Ensure timely monthly, quarterly, and annual financial closing.
• Prepare plant-level Profit & Loss Account, Balance Sheet, and MIS reports.
• Reconcile plant accounts with corporate finance.
• Ensure adherence to accounting standards and company policies.

2. Cost Accounting

• Maintain standard costing and actual product costing for composite fertilizers.
• Analyze:
• Raw material consumption
• Utility costs
• Energy costs
• Conversion costs
• Manufacturing overheads
• Conduct variance analysis against budgets and standards.
• Determine product-wise profitability.
• Monitor production yields and process losses.
• Support pricing decisions through detailed cost analysis.

3. Inventory & Stores Accounting

• Supervise accounting of:
• Raw materials
• Packing materials
• Work-in-Process (WIP)
• Finished goods
• Consumables
• Spares
• Ensure inventory valuation complies with applicable accounting standards.
• Conduct periodic physical stock verification.
• Investigate inventory discrepancies and implement corrective actions.
• Monitor inventory ageing and slow/non-moving inventory.

4. Budgeting & Financial Planning

• Prepare annual plant budgets.
• Develop operating expenditure (OPEX) and capital expenditure (CAPEX) budgets.
• Monitor budget utilization and analyze variances.
• Forecast monthly cash flow requirements.
• Support long-term financial planning for plant expansion and modernization.

5. Manufacturing Cost Control

• Monitor:
• Production costs
• Utility consumption
• Maintenance expenses
• Labour costs
• Procurement costs
• Identify cost-saving opportunities.
• Recommend process improvements to enhance profitability.
• Develop cost control dashboards and key performance indicators (KPIs).

6. Statutory Compliance

Ensure timely compliance with:

• GST
• Income Tax (TDS/TCS)
• Companies Act requirements
• Cost Audit
• Internal Audit
• Statutory Audit
• Environmental and other applicable regulatory reporting
• Government subsidy documentation and compliance (where applicable)

Coordinate with external auditors and regulatory authorities during audits and assessments.

7. Fixed Asset Management

• Maintain the Fixed Asset Register.
• Capitalize project expenditures.
• Verify asset additions and disposals.
• Calculate and account for depreciation.
• Conduct periodic physical verification of fixed assets.

8. Internal Controls & Risk Management

• Strengthen financial controls across plant operations.
• Ensure compliance with Standard Operating Procedures (SOPs).
• Monitor delegated financial authorities.
• Identify financial risks and implement mitigation measures.
• Support internal control testing and continuous improvement initiatives.

9. Working Capital Management

• Monitor receivables and payables related to plant operations.
• Optimize inventory levels to improve working capital efficiency.
• Track vendor payments and advance settlements.
• Support treasury by providing plant-level cash flow forecasts.

10. Business Partnering

• Collaborate with:
• Plant Head
• Production
• Maintenance
• Procurement
• Supply Chain
• Quality Assurance
• Corporate Finance
• Provide financial insights to support operational decision-making.
• Evaluate capital investment proposals and prepare financial feasibility analyses.

Key Performance Indicators (KPIs)

• Timely monthly financial closing
• Accuracy of product costing
• Budget adherence
• Manufacturing cost reduction
• Inventory accuracy
• Inventory turnover
• Working capital optimization
• Audit compliance
• Timely statutory filings
• Reduction in financial control observations
• Cost savings achieved
• Plant profitability improvement