Interested to know about best business strategies decision such as Monetize the gaps in market (Lenskart, Paytm, Heritage, E-commerce etc)
Yallareddy K
Bengaluru,KA
Summary
Results-driven Financial Controller with over 11 years of experience in financial management, specializing in manufacturing and construction accounting. Expertise includes SAP implementation and statutory audit oversight, with a strong focus on financial forecasting and revenue recognition. Proven ability to optimize debt management, inventory control, and project costs while ensuring compliance with corporate policies. Committed to fostering a culture of excellence through training and mentoring finance teams, leveraging extensive experience to drive strategic growth and enhance operational efficiency within dynamic organizations.
Overview
11
11
years of professional experience
Work History
Finance Controller
ONX Homes India Pvt Ltd
08.2021 - Current
- Single point of Contact in SAP implementation of FI,MM, PS, PP, SD modules from scratch which including Chart of accounts preparation, cost center management, DOA review, Legal entity creation etc.. end to end involvement from Finance department
- Budget Preparation for 5 Years & 10 Years Plans
- Forecast Preparations & Revisions for upcoming 3 Qtrs based on Last Qtr Performance
- Detailed Casflow Forecast Preparation for Fixed, Variable compnents including Controlleble & Non Contollable Costs
- Factory Manufacturing accounting
- Project Construction accounting
- Consolidation Financial Statements submission at montly basis to CFO, Management and Qtrly basis to all Loan Lenders
- Monthly Prepareration & Qtrly submission to Each Loan Lender of Debt Convenants based on Borrowing base logics as per Loan Agreement clauses and Ensure to comply with Agreement
- Debt Management including tracking of General debt of group level, Land debts, project vertical construction debts Interest rates, debt maturity with project timelines to see Interest impact at project total and per Home unit level
- Review of Revenue & Cost Forecast vs Actual to see deviations in Volume variance & Price variance and mix variance, including Sales commission, Buydowns, incentives etc
- Inventory Management including Standard cost & PPV analysis to control Abnormal Favourable & UnFavourable PPV transaction and review with SCM, Operation team and change as need based on Market conditions, provided targets to reduce the purchase prices
- Control Inventory levels based YTD forecasted demand, Monthly stock take and review the Standard utilization vs physical utilization to ensure production variance at minimum level.
- Demand vs BOM review to assess the risk of Excess & Obsolete On Hand and On Order Inventory to assess the risk at business unit level and legal entity level, take action of risk mitigation & risk diversification to ensure minimal loss of inventory & impact in business unit level
- Cost Controlling by comparing Cost to output ratios and Demand vs Production capacity
- Review of Planned output vs Resource deployed
- Review of Open Purchase order, Open purchase requests to Cancel or defer the supply of Materials & services to avoid over purchase and working capital blockages
- Fixed asset Management including Capitalization of New Factories and additional asset purchases, Assets Transafers, Retrirments, Assets Registers.
- Fixed Assets Maintainance plan vs actuals Cost review to understand and report the abnormal spend & control the unplanned breakdown of machines
- Rental Equipment Management including Utilization of equipment's against production demand to see over/under deployment and impact of cost in monthly PnL against forecast and identify the gaps in Forecast & Equipment pricing, Overtime in machine Hrs
- Lease Management including Finance & Opertating leases Liabilities, ROU accouting, Payments, tracking upcoming liabilites.
- Labour Management including Hiring & Termination lists bi-weekly basis, Labour Over/under deployment against Demand for the month, Labour overtime review, review of any output per each man day's for daily production to ensure loss of output well in advance and reduce under absorption in monthly PnL.
- Project Budget tracking, Compare Budget vs Actual cost incurred to identify balance to spend to cost to complete, Cash outflow along with timelines
- Project cost Management including, tracking cost, impact due to project timelines, Change orders due to scope of work modification, rework due to weather condition, local regulation etc. to see budget vs Actual and project to project for same line of models and take precautions in other running projects and upcoming pipe line projects to control margins
- Managed payroll data entry and processing for 300 employees (DL & IDL (Factory, Projects, Opex G&A, GBS Offices) to comply with predetermined company guidelines
- Statutory Audit management
- Completed 4 times year-end audit closes (2021 to 2024 closed, 2025 Interim audit is running) through effective supervision financial functions with minor Audit findings
- Supervision of Statutory Complinaces such as GST, PF, TDS, Advance Tax
- Supervised accurate, efficient Management Reporting including Monthly Financial & Non Financial packages & Ad hoc reportings
- Trained and mentored junior finance team members in accounting processes to enhance overall team performance.
- Followed up with delinquent accounts to obtain funds and reduce aging balances.
- Treasury and cash management by overseeing reconciliation of banking activity, credit card expenses, and sales tax returns.
- Introduced internal controls to monitor critical areas of financial control and devised corrective actions to Mitigate risks of safeguards for revenues and expenditures
- Worked with 5 executives to create annual budget and track actual expenses against projected expenses.
- Contracts Management including monitoring of financially impact on company and counseled executive leaders on impact contracts would have on company operations.
Associate Financial Analyst
Flex India Pvt Ltd
10.2018 - 08.2021
- Sales & VAM Analysis for Actual vs Forecast on weekly basis
- Material cost analysis for Standard cost vs Actual vs Quotation
- Cycle count follow-up on weekly basis to achieve conformance as per corporate policy
- Intrans it and challenge inventory analysis on biweekly basis
- Nonconformance follow-up for non nettable inventory & Wok order and MRO as per corporate policy on weekly basis
- License fee & design cost calculation and accruals based on shipment in MEC
- Sales and Material adjustment & accruals as per ASC 606 in MEC
- Ram material to WIP accruals on transformed inventory for Intercompany purchases as per ASC 606
- Work order analysis on weekly basis and accruals for unfavorable variance to claim from customer in MEC
- Preparation KOI report for management in MEC
- Trueup calculation & accrual for Actual Selling price vs quoted with customers in MEC
- VAM passback to customers to the extent agreed VAM portion
- Warranty provision and Inventory reserve booking based on shipment in MEC
- Excess and Obsolete inventory reporting and getting risk values to create additional reserve to mitigate risk for loss
- GL vs Subledger reconciliation post close
- Action for BS recon open items
- Audit support for internal and Statutory
Senior Associate
GE India Industrial Pvt Ltd
07.2017 - 10.2018
- End to end Intercompany Management
- Recharging based on Services rendered and coordinating with Intercompany Counterparties to get tie out of both the parties books
- Reclassification of AP invoices to the relevant Cost center and Profit center in ERP Based
- Clearance of mismatches between counterparties by weekly basis and in month end days
- Coordination in Intercompany settlement for AR & AP invoices
- Keeping the intercompany invoices in Hold & releasing payment after getting proper backup.
- Clearing of Undistributed account for AR & AP invoices during month end
- Intercompany Reconciliations and getting balance confirmation for Receivable balances
- Month end review call with controllership team
- Providing resolution for the queries received from Cash & Banking team and Audit related queries.
Senior Officer
Wipro BPS Limited
03.2016 - 07.2017
- Complete R2R Process with UK clients including Month end close support, review with controller for each segment, BS reconciliation, Open Item Management
Audit Executive
Akasam and Associates
02.2015 - 02.2016
- Worked part of Audit and Assurance department
- Drafted recommendations on corrective measures based on audit results.
- Advised clients on required operational changes necessary for legislation compliance.
- Generated Audited financial statements documenting revenue, expenses and liabilities.
- Helped departmental managers develop and optimise inventory controls.
- Assessed internal control systems, identifying weaknesses and recommending enhancements to safeguard assets.
- Reconciled monthly bank statements and resolved discrepancies.
Education
B.com - Accounting, Finance, Taxation
06-2011
ICMAI- Inter - Accounting, Finance, Taxation, Costing
02-2013
Skills
- Budget management
- Financial analysis
- Revenue management
- Performance evaluation
- Financial management accounting
Interests
LANGUAGES
English
Bilingual or Proficient (C2)
Kannada
Bilingual or Proficient (C2)
Telugu
Bilingual or Proficient (C2)
Tamil
Intermediate (B1)
Hindi
Beginner (A1)
Timeline
Finance Controller - ONX Homes India Pvt Ltd
08.2021 - Current
Associate Financial Analyst - Flex India Pvt Ltd
10.2018 - 08.2021
Senior Associate - GE India Industrial Pvt Ltd
07.2017 - 10.2018
Senior Officer - Wipro BPS Limited
03.2016 - 07.2017
Audit Executive - Akasam and Associates
02.2015 - 02.2016
Gulbarga University - B.com, Accounting, Finance, Taxation
Institute of Cost Accountants of India - ICMAI- Inter, Accounting, Finance, Taxation, Costing