Job Description:
Job purpose:
To perform Financial & operational analysis including Variance Analysis, Sales/margin analysis, Working Capital & Cashflow Management, Financial forecasting, Evaluation of Capex Proposal, etc. to identify the potential gaps and ensure no revenue leakage in the business. To prepare reports on financial performance for regular leadership reviews.
Dimensions:
Business Workforce Number: 15000 employees; Unit workforce number:25;
Overall Revenue: USD 0.9 Billion
Overall EBIDTA: USD 55 Mln
Job Context & Major Challenges:
Domestic Textiles, Overseas Spinning and Acrylic Fibre Business, led by Mr Thomas Varghese as the Business Head, spans across fibre, yarn, fabric, and retailing. It is present in 6 countries with 11 manufacturing units and has combined revenue of USD 0.9 Bn and EBITDA of USD 55 Mn and has a workforce of around 15,000 employees.
The Domestic Textiles Business with 3 units (JST, VW & Soktas) is involved in making Linen, Worsted Yarn, and Cotton. Apart from this, the Business makes Linen and Linen / Wool / Cotton blend Fabrics. The Business also makes wool tops for domestic and international customers. White Linen and Cotton segment mainly cater to domestic demand, Worsted yarn is predominantly exported.
The Overseas Spinning Business boasts of more than 700,000 state-of-the-art spindle serving more than 80 countries. The Business is predominantly involved in making rayon, poly rayon and cotton yarn.
The Acrylic Fibre Business make both Ecru and dyed fibre. It is among the top 5 producers of Acrylic Fibre in the world and one of the lowest cost producers. It serves more than 25 counties and has more than 90% sales coming from exports. Business had acquired Pyrotex industries to give TAF an opportunity to enter high performance FR segment and to leverage its existing technology.
Business is continuously focusing on increasing its value-added product portfolio. Company has recently acquired SPL (specialty product producing company) to increase its VAP portfolio substantially.
Currently the internal control systems and procedures maturity level varies across all three businesses and is at different stages even across units in the same business and also the ERP usage and its implementation is also at different stages.
Major Challenges –
Job purpose:
To perform Financial & operational analysis including Variance Analysis, Sales/margin analysis, Working Capital & Cashflow Management, Financial forecasting, Evaluation of Capex Proposal, etc. to identify the potential gaps and ensure no revenue leakage in the business. To prepare reports on financial performance for regular leadership reviews.
Dimensions:
Business Workforce Number: 15000 employees; Unit workforce number:25;
Overall Revenue: USD 0.9 Billion
Overall EBIDTA: USD 55 Mln
Job Context & Major Challenges:
Domestic Textiles, Overseas Spinning and Acrylic Fibre Business, led by Mr Thomas Varghese as the Business Head, spans across fibre, yarn, fabric, and retailing. It is present in 6 countries with 11 manufacturing units and has combined revenue of USD 0.9 Bn and EBITDA of USD 55 Mn and has a workforce of around 15,000 employees.
The Domestic Textiles Business with 3 units (JST, VW & Soktas) is involved in making Linen, Worsted Yarn, and Cotton. Apart from this, the Business makes Linen and Linen / Wool / Cotton blend Fabrics. The Business also makes wool tops for domestic and international customers. White Linen and Cotton segment mainly cater to domestic demand, Worsted yarn is predominantly exported.
The Overseas Spinning Business boasts of more than 700,000 state-of-the-art spindle serving more than 80 countries. The Business is predominantly involved in making rayon, poly rayon and cotton yarn.
The Acrylic Fibre Business make both Ecru and dyed fibre. It is among the top 5 producers of Acrylic Fibre in the world and one of the lowest cost producers. It serves more than 25 counties and has more than 90% sales coming from exports. Business had acquired Pyrotex industries to give TAF an opportunity to enter high performance FR segment and to leverage its existing technology.
Business is continuously focusing on increasing its value-added product portfolio. Company has recently acquired SPL (specialty product producing company) to increase its VAP portfolio substantially.
Currently the internal control systems and procedures maturity level varies across all three businesses and is at different stages even across units in the same business and also the ERP usage and its implementation is also at different stages.
Major Challenges –
- Margins are shrinking in some of the products due to volatile RM prices, increased competition from China and other low-cost countries.
- The cost of productions is increasing due to increase in wage rate, power rate and overhead.
- High fluctuation in raw material price. Sudden increase in raw material price could not be passed on to customers.
- To perform in an atmosphere where different styles of working are adopted in each country where the businesses operate.
- To ensure effective statutory and legal compliances in various fields and functions
Key Result Areas
Supporting Actions
- Profit Maximization – Monthly and Quarterly Financial Analysis
- Preparation & Analysis of Monthly and quarterly Reports of P&L, Balance Sheet, Net Working capital and Cash Flow for all the Units.
- To ensure the circulation of Financial performance summary to CXOs.
- To update business head and busines CFO on movement of key raw material price, FX rate and Trend analysis..
- To analyze and prepare report on profitability of sales contract and give recommendation to business head / CFO for future improvement.Periodic capex review and analysis.
- .
- Resource management –
- To be involved in annual budgeting exercise and work with the business to finalize the annual budget plan for all the busines.
- Working Capital – HighlightOld aged and critical Inventories and Receivables conducting periodic review meeting with the business and update same to business head and CFOs.
- Competitor’s benchmarking
- Detailed peer comparison analysis while Benchmarking with our units.
- Provide key insight to the management about competitors innovation.
- Highlight area of improvement.
- IT Enablement
- Work closely with CIO and business units for automation of various financial and operational reports.
- People Management
- Help and maintain cordial relations with teams across 3 business, facilitate problem solving and collaboration.
- Maintain healthy group dynamics.
- Encourage creativity and constant improvement
- Strategic Projects
- To work on specific strategy projects as may be assigned from time to time.
Qualifications:
Chartered Accountant
Minimum Experience Level:
5-8 Years
Report to:
Manager
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