Bonito Designs - Finance Manager - CA (1-2 yrs)
About the Industry
The interior design market in India is large (4 lac homes delivered in top 8 cities annually) and fragmented (~95% unstructured), with a very low customer satisfaction level, and an increasing demand for personalized and well-designed interiors. Also, being a labour intensive market, there are large inefficiencies, and scope for high margins through standardization of design and product, which makes it a very attractive category for building a scalable and profitable brand.
About the company
Bonito Designs was started in 2012, and has built a very strong brand in the interior design space, reflected in the popularity of its YouTube channel, which is the third largest in the category globally (450k+ subscribers, 70m+ lifetime views). They have designed over 1500 homes till date, and have scaled from an annualised run-rate (ARR) of 10 Cr in Mar - 19 to ARR of 80 Cr in Sep - 20, on track to achieve EBITDA profitability in the next few months, in Bangalore. During Covid times too, the organization has grown significantly, demonstrating the most efficient capital consumption to growth story and the lowest cash burn to revenue ratio in the organized online interiors space. Founders have built a very strong leadership team with an exceptional design head with a strong international experience and great talent across Marketing, Sales & Supply Chain, leading a team of over 240 people.
Bonito has been funded by Tomorrow Capital - an early stage strategic investment fund. With the business stabilizing in Bangalore, Bonito will expand into Mumbai next, where we believe there is a significant headroom for growth on account of possible large development tie-ups. The experienced team of Bonito is well poised for exponential growth and will be raising their next round of funding by 2021.
Roles and Responsibilities:
- Manages the day-today accounting operations, budgets and project profitability.
- Preparation of Financial Statement Monthly
- Manages Month end book closure effectively for reporting
- Support in Business plan preparation
- Manages Fixed Asset Register, monitor capex budget
- Allocation of overhead cost (direct and indirect) to the project
- Identify the cost variance at individual project projected vs actuals
- Ensure all Balance Sheet accounts are properly reconciled
- Manages day to day accounting
- Should have completed CA
- Post qualification experience should be 1-2 years only