Financial Controller

1. Job Purpose

To lead and control the companys finance, accounts, costing, commercial, purchase and stores functions. The position will ensure effective financial planning, cash-flow management, order profitability, banking arrangements, statutory compliance, audit coordination and preparation of the organisation for future investment or IPO-related activities.

2. Key Roles and Responsibilities

A. Customer PO and Sales Order Review

• Review customer purchase orders and sales orders before acceptance.
• Verify product prices, quantities, specifications, taxes, payment terms and delivery schedules.
• Check penalty, warranty, retention, performance guarantee and other commercial clauses.
• Identify financial and commercial risks and obtain necessary management approvals.
• Ensure customer orders are entered correctly into the ERP or accounting system.

B. Sales Order Cost Verification

• Review pre-order costing and expected profitability of each sales order.
• Verify material, labour, manufacturing, galvanising, packing, transportation and overhead costs.
• Analyse the contribution margin and expected profit before order confirmation.
• Ensure deviations from approved pricing or margins are properly authorised.
• Coordinate with Sales, Costing, Purchase and Production departments.

C. Purchase Order Verification

• Review vendor purchase orders before final release.
• Verify approved rates, quantities, specifications, taxes, delivery conditions and payment terms.
• Ensure vendor selection and commercial terms comply with company policies.
• Compare purchase prices with approved budgets and previous purchase rates.
• Monitor significant variations in material prices and purchase costs.

D. GRN Issuance and Control

• Ensure timely preparation and posting of Goods Receipt Notes.
• Verify GRNs against purchase orders, delivery challans, invoices and actual material received.
• Coordinate with Stores, Purchase, Quality and Accounts for discrepancies.
• Monitor pending GRNs, rejected materials, shortages and excess supplies.
• Ensure invoices are processed only after proper GRN and quality approval.

E. Cash-Flow Planning

• Prepare weekly, monthly and quarterly cash-flow forecasts.
• Plan fund requirements for salaries, vendor payments, statutory dues, operational expenses and capital expenditure.
• Monitor actual cash flow against forecasts and report major variances.
• Prioritise payments based on operational urgency and fund availability.
• Maintain adequate working capital for uninterrupted business operations.

F. Vendor Payments and Customer Receivables

• Prepare and monitor vendor payment schedules.
• Review customer receivables and outstanding ageing reports.
• Coordinate with Sales and Commercial teams for collection follow-ups.
• Resolve invoice, payment, debit-note and credit-note disputes.
• Control overdue receivables and improve the companys collection cycle.
• Ensure vendor payments are processed according to agreed credit terms and approvals.

G. Post-Order Costing and Profitability Analysis

• Prepare post-order costing after completion or dispatch of each order.
• Compare estimated costs with actual costs.
• Analyse material consumption, labour, production, galvanising, logistics and overhead variances.
• Calculate final order-wise contribution and profitability.
• Highlight cost overruns and recommend corrective measures.
• Present post-order costing reports to management.

H. Banking, Negotiation and Fund Limits

• Manage relationships with banks and financial institutions.
• Negotiate working-capital limits, cash-credit limits, term loans and interest rates.
• Manage bank guarantees, letters of credit, bill discounting and other banking facilities.
• Monitor utilisation and renewal of sanctioned banking limits.
• Prepare financial projections and documents required by banks.
• Ensure timely compliance with banking conditions and covenants.
• Optimise finance costs and maintain sufficient liquidity.

I. Audit and Statutory Compliance

• Coordinate statutory, internal, tax, cost, stock and banking audits.
• Provide accurate financial records and supporting documents to auditors.
• Review audit observations and ensure timely corrective actions.
• Ensure compliance with applicable accounting standards, taxation laws and statutory requirements.
• Monitor GST, TDS, income tax and other statutory payments and returns.
• Strengthen internal financial controls and prevent financial irregularities.

J. IPO Readiness and Investor Coordination

• Support management in assessing the companys readiness for an IPO.
• Coordinate with merchant bankers, auditors, legal advisers, company secretaries and consultants.
• Support financial due diligence and preparation of the IPO data room.
• Assist in financial restatement and preparation of historical financial information.
• Strengthen internal controls, governance systems and reporting processes.
• Prepare financial presentations and information required by investors.
• Coordinate investor meetings and respond to financial due-diligence queries.
• Maintain confidentiality of investor and IPO-related information.
• Ensure compliance with applicable SEBI, Companies Act and stock-exchange requirements in consultation with qualified advisers.

K. MIS and Management Reporting

• Prepare monthly financial and operational MIS reports.
• Report revenue, profitability, cash flow, receivables, payables and banking exposure.
• Provide department-wise, project-wise and order-wise cost analysis.
• Highlight financial risks, overdue payments, cost overruns and commercial deviations.
• Present periodic financial performance reports to the Managing Director and Board.
• Support management in budgeting and strategic decision-making.

L. Departmental Leadership and Coordination

• Lead Finance, Accounts, Costing and Commercial functions.
• Coordinate with Purchase and Stores for procurement and inventory controls.
• Define responsibilities, reporting structures and performance targets for team members.
• Review the performance of departmental employees.
• Develop effective systems, SOPs and internal controls.
• Ensure accuracy, confidentiality and timely completion of financial activities.

3. Educational Qualification

• Chartered Accountant (CA) preferred; or
• CMA/Cost Accountant, MBA Finance, M.Com or equivalent professional qualification.
• Additional qualification in corporate finance, taxation, banking or capital markets will be an advantage.

4. Experience

• Minimum 15 years of relevant experience, preferably in an engineering, manufacturing, fabrication or project-based organisation.
• At least 5 years in a senior finance leadership position.
• Experience in banking, working-capital management, costing, audits and statutory compliance is essential.
• Experience in investor due diligence, fundraising or IPO readiness will be preferred.

5. Key Skills and Competencies

• Financial planning and analysis
• Manufacturing and order-wise costing
• Cash-flow and working-capital management
• Banking and financial negotiations
• Accounts, taxation and statutory compliance
• Audit and internal-control management
• Commercial and contractual understanding
• Investor and IPO coordination
• Leadership and team management
• ERP and advanced MS Excel proficiency
• Analytical and decision-making ability
• High integrity and confidentiality

6. Key Performance Indicators

• Customer PO Review - Orders reviewed before acceptance and commercial risks identified.
• Order Costing - Accuracy of pre-order and post-order costing
• Profitability -Improvement in order-wise margin and reduction in cost overruns.
• Cash Flow Accuracy of cash-flow forecasts and availability of operational funds.
• Receivables - Reduction in overdue receivables and debtor days
• Vendor Payments - Timely payments according to agreed credit terms
• Banking - Timely renewal of limits and reduction in finance costs
• GRN Control - Timely GRN processing and reduction in pending discrepancies
• Audit-Timely audit completion and closure of observations
• Compliance-Timely statutory payments and returns without penalties
• MIS-Accuracy and timely submission of management reports
• IPO Readiness -Completion of due diligence, documentation and internal-control requirements

7. Authority

• Review and recommend sales orders, purchase orders and commercial proposals.
• Recommend vendor payment priorities based on cash-flow availability.
• Negotiate with banks and financial institutions within approved authority.
• Seek clarification or hold transactions with incomplete documentation.
• Review departmental performance and recommend corrective actions.
• Escalate major financial, commercial, compliance and profitability risks to management.

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