Manager Plant Finance

Role Purpose

To lead and manage plant-level financial operations, ensure strong cost controls, drive profitability improvement initiatives, and provide financial insights to support manufacturing excellence and business growth.

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Key Responsibilities

1. Plant Financial Control & Reporting

• Prepare and review monthly plant P&L, variance analysis, and MIS reports.

• Monitor cost of production (COP), material consumption, labor, and overheads.

• Ensure accurate accounting of inventory, WIP, and finished goods.

• Drive monthly closing activities and coordinate with corporate finance.

2. Costing & Budgeting

• Lead annual operating plan (AOP) and rolling forecasts for plant.

• Standard costing, BOM validation, and variance analysis (PPV, usage variance, efficiency variance).

• Identify cost optimization opportunities and track savings initiatives.

• Support product costing and pricing decisions.

3. Inventory & Working Capital Management

• Monitor inventory levels (RM, PM, WIP, FG) and reduce slow/non-moving stock.

• Ensure accuracy of stock through regular physical verification and reconciliation.

• Optimize working capital and improve inventory turns.

4. Internal Controls & Compliance

• Ensure compliance with company policies, SOPs, and internal controls.

• Support statutory and internal audits.

• Ensure adherence to GST, excise (if applicable), and other regulatory requirements.

• Implement process improvements and strengthen financial governance.

5. Business Partnering

• Work closely with Plant Head and Operations team to drive efficiency.

• Provide financial insights for capacity utilization, yield improvement, and cost reduction.

• Evaluate capex proposals and conduct ROI analysis.

• Support make vs buy decisions.

6. Capex & Fixed Assets Management

• Monitor capex budgets and track project spend.

• Ensure proper capitalization and asset register maintenance.

• Conduct periodic asset verification.

7. Team Management

• Lead plant finance team and ensure capability building.

• Coordinate with central finance, procurement, and supply chain teams.

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Key Performance Indicators (KPIs)

• Cost reduction % vs budget

• Inventory days / Working capital improvement

• Variance control (material & conversion cost)

• Accuracy & timeliness of reporting

• Audit compliance & control adherence

• Plant EBITDA improvement