Department

Finance & Accounts — Costing & MIS

Reporting to

Chief Financial Officer (through Head – Costing & MIS, where applicable)

Location

Corporate Office, Mumbai, with regular travel to Indian project sites and periodic international travel

Experience

6–10 years post-qualification, of which at least 3 years in mining, earthmoving, construction or heavy-equipment-intensive operations

Qualification

CMA (ICMAI) — preferred; CA with strong costing exposure also considered

ABOUT TEIPL

Thriveni Earthmovers & Infra Private Limited (TEIPL), a subsidiary of Lloyds Metals and Energy Limited, is one of India’s leading Mine Developer and Operator (MDO) companies, providing end-to-end mining solutions for iron ore, coal, barytes, copper, manganese and gold. TEIPL also manages iron ore slurry pipelines and pellet manufacturing.

TEIPL operates a fleet of more than 6,000 heavy mining equipment — including excavators, dumpers, dozers, graders, drills and support equipment — across project sites in four states in India, with international operations in the Democratic Republic of Congo (DRC), Papua New Guinea (PNG) and Indonesia. Its strengths lie in operational scale, in-house rebuilding of heavy equipment at its large workshops, innovation, sustainability and community engagement.

ROLE PURPOSE The Cost Accountant will own the detailed cost analysis of TEIPL’s mining operations, with a primary focus on three cost pools: equipment operating cost, manpower cost and overheads. The role converts operational and SAP data into reliable unit costs (per equipment hour, per tonne and per BCM), explains variances against budget and contract rates, and gives management and project heads clear, decision-ready insight on fleet economics, site profitability and cost reduction.

KEY RESPONSIBILITIES

1. Equipment Costing (Fleet of 6,000+ Units)

- Build and maintain equipment-wise and model-wise cost sheets covering fuel (HSD), lubricants, tyres, spares, repairs and maintenance, component overhauls, operator cost, insurance and depreciation.
- Compute Owning and Operating Cost (O&O;) per machine hour and per tonne / BCM, and benchmark across sites, OEMs, equipment age and capacity classes.
- Track equipment utilisation, availability, breakdown hours and idle time, and quantify their cost impact on project margins.
- Analyse fuel consumption norms (litres per hour / per BCM) and tyre cost per hour; flag abnormal consumption by machine, site and shift.
- Evaluate repair-versus-replace, rebuild-versus-current and own-versus-hire decisions, including workshop rebuild economics and lifecycle cost analysis.
- Support costing of equipment mobilisation and relocation between sites and across countries.

2. Manpower Costing





- Build site-wise and function-wise manpower cost models covering on-roll employees, contract labour, operators, maintenance crew and staff, including statutory costs (PF, ESI, bonus, gratuity) and benefits.
- Analyse overtime, shift allowances, camp and accommodation costs, and manpower productivity (cost per operator hour, tonnes / BCM per employee).
- Monitor actual headcount and cost against approved manning norms and budgets; highlight excess deployment and overtime drivers.
- Model the cost of expatriate and local manpower for international projects, including allowances, travel and local statutory costs.

3. Overhead Analysis and Allocation

- Classify site overheads (camp, security, power, administration, HSE, IT) and corporate / regional overheads; design and maintain logical, auditable allocation bases.
- Allocate overheads to projects, cost centres and profit centres to arrive at true project-level profitability.
- Identify fixed versus variable behaviour of overheads and their sensitivity to volume changes.

4. Project / Site Profitability and Contract Costing

- Prepare monthly project-wise cost and profitability statements, with variance analysis split into volume and rate effects against budget and prior periods.
- Test unit costs per tonne / BCM; give favourable variances the same scrutiny as adverse ones.
- Support MDO and contract-mining rate build-ups, bid costing for new tenders, escalation and price-variation claims, and rate-justification workings for customers.
- Prepare budgets, forecasts and rolling estimates of cost at site and consolidated level.

5. International Operations (DRC, PNG, Indonesia)

- Extend the costing framework to overseas entities, ensuring consistent cost structures, currency treatment and comparability with India operations.
- Support cost data required for inter-company charges and transfer pricing documentation.

6. Systems, MIS and Analytics

- Use SAP S/4HANA (CO, CO-PA, PM and MM modules) for cost-centre, internal-order and equipment-wise cost capture; drive master-data hygiene and correct cost postings at source.
- Design dashboards and MIS on equipment cost, manpower cost and overheads using advanced Excel and Power BI (or similar tools).
- Prepare monthly cost reports and presentations for the CFO, MD and project heads,



with clear commentary and recommended actions.

7. Cost Records, Cost Audit and Controls

- Maintain cost records under the Companies (Cost Records and Audit) Rules, 2014 and ensure compliance with applicable Cost Accounting Standards (CAS).
- Coordinate with cost auditors and statutory auditors; prepare cost audit schedules, reconciliations of cost and financial records, and supporting documentation.
- Conduct physical verification, reconciliation and valuation reviews for fuel, spares, tyres and stores at sites.
- Strengthen internal controls over cost booking, consumption approvals and equipment cost capture, in line with IPO-readiness requirements.

8. Cost Reduction and Business Partnering

- Partner with operations, maintenance (P&M;), procurement and HR to identify and quantify cost-saving opportunities.
- Track the realisation of cost-reduction initiatives and report savings achieved against targets.

CANDIDATE PROFILE

Must-have

- CMA qualification (or CA with demonstrable costing depth).
- 6–10 years of costing experience, with at least 3 years in mining, earthmoving, infrastructure / EPC, construction equipment or a similar asset-heavy operation.
- Hands-on experience of equipment-wise costing: cost per hour, fuel and tyre norms, maintenance cost and utilisation analysis.
- Strong grounding in manpower cost modelling and overhead allocation.
- Working knowledge of SAP (CO / CO-PA; PM exposure preferred) and advanced Excel.
- Experience handling cost audit and maintaining cost records under the Companies Act.

Good-to-have

- Exposure to MDO / contract-mining rate build-ups, bid costing or escalation claims.
- Experience with multi-site or multi-country operations, including Africa or South-East Asia.
- Power BI, SQL or similar analytics tools.
- Exposure to IPO-readiness, internal financial controls (IFC) or listed-company reporting.

Behavioural competencies

- Analytical rigour and an eye for detail, with the ability to present conclusions simply to non-finance managers.
- Willingness to travel to remote mine sites in India and abroad.
- Integrity, ownership and the ability to challenge operational data constructively.

KEY PERFORMANCE INDICATORS

Timeliness

Monthly equipment, manpower and project cost reports issued within agreed close timelines

Accuracy

Reconciliation of cost records with financial books; minimal audit observations

Insight

Variances explained in volume and rate terms for all material cost heads

Cost reduction

Savings identified and realised against annual targets

Compliance

Timely cost audit closure and filing; CAS compliance

Systems

Improvement in SAP equipment-wise cost capture and master-data quality

📌 Senior Manager / Manager - Cost Accountant (Mining Operations) (Mumbai)
🏢 Thriveni EarthMovers Pvt.Ltd
📍 Mumbai