Finance Manager

Company Description

Vidya Wires, located in Gujarat, is one of India’s largest manufacturers and exporters of enameled copper wire, with over 40 years of industry expertise. The company specializes in high-quality copper products such as wires, strips, copper tapes, and paper-covered copper components. Dedicated to creating long-lasting client relationships, Vidya Wires prioritizes customer satisfaction, ethical practices, and continuous improvement. The company's success is built upon the strength and expertise of its skilled employees, ensuring superior quality and timely delivery of products.

Job Description of Finance Manager

Position: Finance Manager

Location: Vithal Udyognagar, Anand, Gujarat

Reports To: CFO / Director

Location : Anand

Job Summary:

The Finance Manager is responsible for overseeing and managing the financial health of the manufacturing company. The role involves managing accounting, budgeting, financial planning, cost control, compliance, and risk management. This role extends beyond finance and accounting to include responsibilities in Stores, Dispatch, Sales & Marketing, EXIM, Purchase and other related functions. Thee Finance Manager ensures accurate financial reporting, efficient working capital management, and adherence to regulatory requirements.

Key Responsibilities:

1. Financial Management & Reporting

• Oversee financial planning, budgeting, and forecasting.
• Oversee and manage financial statements, including P&L, balance sheet, and cash flow.
• Prepare monthly, quarterly, and annual financial reports.
• Optimize banking relationships and oversee loan/credit facilities.
• Analyse financial data to support decision-making and business strategy.
• Develop strategies for cost reduction and profit maximization.

2. Budgeting & Forecasting

• Develop and monitor annual budgets and forecasts.
• Conduct variance analysis and recommend corrective actions.
• Work closely with other departments to align financial plans with business objectives.

3. Costing & Profitability Analysis

• Monitor product costing, raw material costs, and overheads.
• Evaluate and optimize cost structures and improve cost efficiency.
• Conduct profitability analysis by product, plant, and division.
• Ensure competitive pricing strategies through cost assessment.

4. Accounts, Taxation & Compliance

• Ensure compliance with GST, Income Tax, TDS, and other statutory regulations.
• Manage & liaise with auditors, tax consultants, and regulatory authorities.
• Oversee tax planning and filing of returns.
• Ensure compliance with accounting standards (IND AS, IFRS).
• Implement internal financial controls and SOPs.

5. Internal Controls & Risk Management

• Implement and monitor internal financial controls.
• Ensure adherence to corporate governance and risk management policies.
• Conduct internal audits and risk assessments to mitigate financial risks.

6. Working Capital & Cash Flow Management

• Monitor and manage cash flow to ensure liquidity.
• Oversee accounts receivable, payable, and inventory management.
• Optimize working capital and manage banking relationships.

7. Financial Strategy & Decision Support

• Evaluate investment proposals, CAPEX decisions, and cost-saving initiatives.
• Support pricing strategies and contract negotiations.

8. Stores & Inventory Management

• Monitor inventory levels and working capital optimization.
• Ensure efficient procurement and inventory cost control.
• Implement inventory valuation and stock reconciliation processes.
• Work with store managers to reduce wastage and pilferage.

9. EXIM (Export & Import) Management

• Oversee forex management and currency risk mitigation.
• Ensure compliance with export/import regulations and documentation.
• Manage LC (Letter of Credit), bank guarantees, and international payments.
• Optimize duty drawbacks, export incentives, and custom clearances.

10. ERP & Financial Systems Management

• Ensure efficient use of ERP systems for financial transactions.
• Drive automation and digitization of financial processes.
• Improve reporting and analytics through ERP tools.

Qualifications & Skills:

• Chartered Accountant (CA) / MBA - Finance is preferred.
• 8-10 years of post-qualification experience in financial management, preferably in a manufacturing company.