UMEDICA is a vertically integrated company engaged in the manufacturing and export of a wide range of finished formulations i.e., Injectables, Tablets, Capsules, Suspensions, Dry Syrups, etc. UMEDICA's manufacturing facility, located in Vapi (Gujarat), is approved by global regulatory. UMEDICA was founded in 1983 and has business operations in more than 85 countries including the USA, Canada, EU, UK, Australia, Middle East, Central & South American countries, Africa, Asia & CIS countries.

We at UMEDICA strive to achieve more through a culture of innovation & continuous improvement.

As part of our continued expansion and growth plans, we are looking to hire a proactive and detail-oriented Executive / Senior Executive Formulation Costing who will be responsible for preparing and maintaining accurate formulation cost sheets for our Finished Formulations business

This position is based at our Corporate Office at Nariman Point in Mumbai and will report into the Manager/Senior Manager – Costing

The remuneration package will be commensurate with the incumbent’s skilled experience and will be in line with market standards.

Purpose of the Role

To support product costing, inventory valuation, cost analysis, and commercial decision-making by providing accurate costing information for existing and pipeline formulation products.

Key Responsibilities

Product Costing Support

- Prepare product cost sheets for commercial products and new business opportunities.
- Provide costing support to Business Development, Marketing, and Commercial teams.
- Support costing exercises for new product launches, tenders, and customer quotations.
- Maintain and update standard cost information.
- Commercial & Pipeline Product Costing

- Develop detailed cost estimates for pipeline products and recent business opportunities.
- Analyze material, manufacturing, packing, and overhead costs.




- Evaluate profitability of proposed products and business opportunities.

Inventory Valuation

- Support monthly inventory valuation of raw materials, packing materials, WIP, and finished goods.
- Ensure inventory costing is accurate and compliant with company policies.
- Assist in physical inventory reconciliation and reporting.
- Cost Allocation & Idle Cost Analysis

- Perform overhead allocation calculations and absorption analysis.
- Calculate and report idle capacity and idle cost.
- Analyze production cost variances and highlight key drivers.
- MIS & Cost Reporting

- Prepare monthly costing MIS and variance reports.
- Support profitability analysis at product level.
- Assist management with cost optimization and decision-support reports.
- SAP & Master Data Support

- Review and validate costing-related master data including BOMs and routing information.
- Support standard cost updates and SAP costing activities.
- Coordinate with Production, SCM, QA, and Finance teams for data accuracy.
- Audit & Compliance Support

- Provide data for internal audits, statutory audits, and cost audits.
- Ensure proper documentation of costing assumptions and calculations.
- Key Deliverables

- Accurate and timely product costing support.
- Reliable costing inputs fo business development and commercial decisions.
- Accurate inventory valuation and overhead allocation.
- Effective cost variance and idle cost reporting.
- Competencies

- Strong cost accounting knowledge.
- Analytical and numerical skills.
- SAP and Excel proficiency.
- Attention to detail.
- Ability to work with cross-functional teams.
- Commercial and business-oriented mindset.
- Qualification

- CMA Inter / CMA
- 2–5 years of experience in product costing, manufacturing finance, or cost accounting.
- Experience in pharmaceutical formulation business preferred.
- Working knowledge of SAP and Excel.

Interested Candidates can apply or share their resume on [email protected]

📌 Executive / Sr. Executive - Formulation Costing (Mumbai)
🏢 Umedica Labs
📍 Mumbai