Head/VP/GM - Accounts - Manufacturing

GM - FICC

The Function of the Department can be broadly divided in to following four categories with specific focus on fertilizer subsidy and subsequent impact on business :

- Operational functions

- Advisory functions

- Tracking of Policy changes

- Government /Ministerial co-ordination work at Delhi

- Improving of profitability and Strategic issues.

Operational Functions :

- Interpretation and implementation of notified policies.

- Scrutiny and submission of data such as monthly, quarterly, annual, reports on production, consumption including ACD, TOP, Annexure III, Gas returns to FAI, FICC, DOF etc as per policy guidelines,

Submissions of subsidy claims :

Urea :

- On account claims monthly (interface with KKD and Corp Finance)

- Balance Subsidy claims on ( interface with DSB and Corp Finance)

- Supplementary claims on account of revision in prices, part payment, wrong deductions

- Freight claims ( interface with DSB and Corp Finance)

Imported urea :

- Debit note for each vessel (interface with DSB and Corp Finance)

- Balance custom duty claims ( interface with DSB and Corp Finance)

- Balance Freight claims( interface with DSB and Corp Finance)

NPK (no activity at present) :

- Accounting of Subsidy claims, Reports, data to finance, DSB etc

- Follows up for payment with FICC /Director (FA)

- Coordinate with inspection teams of FICC, DOF to avoid any query, recovery etc.

- Regular correspondence, internal notes etc

Advisory functions :

- Along with Senior Advisor, advise the Plant Head, DSB-Marketing and Logistic on the current and future initiatives.

- These advisory functions depend on knowledge of current and likely future policies, views and strategies of peer group fertilizer companies, access to discussion in FAIs CEO Board Meeting, and company historical background, current information and data.

Tracking of Policy changes :

- Tracking of changes in the policy, timely representation to FAI, Government about the concerns of the company is one of the important functions of the department.

- This Department has given useful inputs to DOF while formulating policies such as NPS-III, Modified NPS-III, NIP-2008, NIP-2012 and NUP-2015. These inputs have resulted in improving the contribution of Manufactured Urea. Even at finalization of NUP-2015,our client was successful in avoiding Grouping of energy norms, grouping of fixed cost.

- The original proposal of averaging energy norm from 2010-11,2011-12 and 2012-13 was changed to average of 2011-12,2012-13 and 2013-14 based on submission giving advantage to the company in spite of losses to other units.

- To perform the above function a person of repute with the appropriate background, knowledge, access to senior officials of various Ministries is required.

Government /Ministerial co-ordination work at Delhi :

- The Government/Ministry co-ordination is being done at Delhi Office. The work relates to submission of claims; follow up for payment with offices of FICC, Director (FA), Controller of Accounts, and IFD of the Department etc.

- The major part of work in Delhi relates to DSB regarding submission of data, reports, information on manufactured and imported Urea, mFMS/FMS related co-ordination, facilitating approval of Supply/ Movement Plan, facilitating meetings, other works related to Imported Urea such as nomination of vessel, opening of L/C, payment of L/C, customized fertilizers etc.

Improving of profitability and strategic issues :

This is a very critical function for the growth and profitability of the company. Operationalizing notified policies, adequate subsidy provision in the Union Budget, supplementary budget in Winter Session of Parliament, Special Banking Arrangement (SBA) approval from Ministry of Finance, the revision in existing policies for profit maximization etc cover in this category.

Experience : 14 to 24 years

Keywords : Finance, Subsidy

Requirement Category :

Industry : Fertilizers/Pesticides

Functional Area : Accounts / Finance / Tax / CS / Audit

Role : Head/VP/GM-Accounts

Education Details :

UG Qualification : B.Tech/B.E. (Any Specialization)