Job
Description
Works closely with production, stores, maintenance, purchase, and sales teams to capture and analyse material, labour, and overhead costs for castings and foundry operations.
Ensures robust costing for quotations, budgeting, variance analysis, and continuous cost reduction in line with industry standards. Key Responsibilities
• Develop and maintain a cost accounting system and more specific to foundry operations (melting, moulding, core-making, fettling, heat treatment, machining).
• Establish, review, and update standard costs for raw materials (scrap, alloys, sand, Consumables), labour, machine hours, and overheads at product, part number, and job levels.
• Collect and study data to determine costs of business activities such as raw material purchases, inventory movements, WIP, labour booking, and production jobs.
• Analyse manufacturing cost variances (material usage/yield, purchase price, labour efficiency, machine utilisation, scrap/rejection, rework, power & fuel) and present root-cause and corrective action recommendations to plant management.
• Prepare periodic cost reports and dashboards: product/job cost sheets, gross margin analysis by customer/part, process cost reports, and KPI tracking for key cost drivers.
• Support quotation and pricing by providing accurate product costing, should-cost” analysis, and impact of design/route changes on costs.
• Monitor and reconcile inventory (raw material, sand, consumables, spares, WIP, finished goods), participate in physical stock counts, and investigate discrepancies.
• Assist in month-end and year-end closing related to COGS, inventory valuation, overhead absorption, and cost allocations as per applicable standards.
• Ensure correct classification of expenses and adherence to GAAP/In AS and internal costing policies; support internal and statutory audits with cost records.
• Partner with operations to drive cost reduction projects (yield improvement, scrap reduction, energy efficiency, Process optimisation and track financial benefits • Design and implement SOPs for accounting processes, internal controls (e.g., inventory reconciliation, fixed asset register, expense approvals), and ERP standardization (Tally/SAP basics). • Ensure inventory accuracy via cycle counts/physical verification, manage AR/AP aging, and mitigate risks in raw material procurement (scrap/alloys). • Coordinate internal/statutory audits, cost audits (mandatory for foundries under threshold), and liaise with external auditors/CA firms; resolve audit queries and implement recommendations. • Monitor budgets, variances, CAPEX tracking for plant expansions/equipment, and provide MIS reports on key metrics like EBITDA, working capital, and cost per ton of casting.
