Exide Energy Solutions Limited is a wholly owned Subsidiary of Exide Industries Limited, leading battery manufacturing and distribution company in India with annual revenues of $1.8+ Bn. Exide Energy Solutions Limited is investing $500+ Mn dollars to setup India's first Giga plant to manufacture Lithium-Ion Cells at Devanahalli Industrial Area in Bengaluru. Exide Energy designs, develops, and manufactures Lithium Ion Cells and Battery Pack solutions for various energy storage. Exide Energy is a leading player in the market with OEM customers across key market applications - 2W, 3W, 4W, CV and industrial applications. Exide is also deeply invested in further developing li-ion technology with significant R&D investments including setup of in-house team as well as necessary lab infrastructure to support development activities.
Roles and Responsibility:
1. Identification and Capitalization of Assets:
- Identify assets that need to be capitalized based on organizational guidelines and accounting policies.
- Ensure proper classification and capitalization of assets according to Ind-AS and Income Tax requirements.
2. Asset Register Management in SAP:
- Maintain the Fixed Assets Register in SAP, ensuring all asset data is accurate, complete, and up-to-date.
- Align the asset register with operational teams to ensure the accurate representation of assets.
- Ensure seamless integration of SAP asset records with business operations for real-time asset tracking and reporting.
3. Recording of Fixed Assets (Additions and Deletions):
- Record the addition of new fixed assets and update asset information in SAP, ensuring alignment with Ind-AS guidelines.
- Process asset disposals and deletions in accordance with financial and tax regulations, ensuring accurate write-offs in the system.
4. Depreciation Calculation:
- Run depreciation calculations for fixed assets as per Ind-AS and Income Tax guidelines, ensuring accuracy and consistency.
- Monitor depreciation schedules and ensure timely recording of depreciation in the books.
5. Control over CWIP (Capital Work in Progress):
- Manage and monitor the Capital Work in Progress (CWIP) register.
- Ensure proper transfer of CWIP to main assets once the asset is ready for use or placed in service.
- Track and report CWIP in accordance with the organizational and financial reporting requirements ensuring compliance with IND AS.
6. Asset Records and Physical Verification:
- Ensure the accuracy and hygiene of fixed asset records, including proper asset tagging.
- Oversee the physical verification process, ensuring all assets are correctly tagged and counted.
- Prepare all necessary documentation for the physical verification process and audits, ensuring compliance with Ind-AS, Income Tax, and government agency requirements.
7. Reconciliation of Asset Registers:
- Regularly reconcile the SAP Fixed Assets Register with other systems (e.g., MES records) to ensure consistency and accuracy.
- Investigate and resolve any discrepancies between records promptly.
8. Compliance with CARO (Companies Auditor's Report Order):
- Ensure proper application of CARO requirements in relation to fixed assets.
- Ensure compliance with all aspects of CARO for fixed assets reporting and documentation during audits.
9. Variance Analysis and Reporting:
- Conduct variance analysis between the actual and expected values related to fixed assets (e.g., discrepancies in asset valuation or depreciation).
- Record and reconcile any identified variances in the books, ensuring accurate financial reporting.
10. Asset Retirement and Sales:
- Oversee the retirement and sale of fixed assets, ensuring they are recorded accurately in the asset register.
- Process the sale of assets, including preparing necessary documentation, updating the asset register, and calculating any gain or loss on sale.
- Ensure that all legal, tax, and accounting requirements are met during the retirement or sale of assets.
- Coordinate the proper transfer of asset ownership or disposal, including managing contracts, documentation, and post-sale adjustments.
11. Audit and Government Compliance:
- Prepare and maintain all fixed asset documentation to facilitate internal and external audits.
- Ensure all records are in compliance with applicable regulations, including government agencies' audit requirements.
- Address any audit queries related to fixed assets and facilitate the resolution of audit findings.
Mandatory Skills
- Strong expertise in Ind-AS and Income Tax regulations as they relate to fixed asset management.
- Proficiency in SAP or other asset management software.
- Experience with CARO (Companies Auditor's Report Order) and understanding of its application for fixed assets.
- In-depth knowledge of depreciation methods and their impact on financial reporting.
- Experience in managing asset retirement and sales transactions.
- Excellent organizational skills and attention to detail, especially for maintaining asset records and physical verification.
- Ability to collaborate effectively with the operations, finance, and audit teams.
- Strong analytical skills for variance analysis and reconciliation tasks.
Desired Skills
- Strong expertise in Ind-AS and Income Tax regulations as they relate to fixed asset management.
- Proficiency in SAP or other asset management software.
- Experience with CARO (Companies Auditor's Report Order) and understanding of its application for fixed assets.
- In-depth knowledge of depreciation methods and their impact on financial reporting.
- Experience in managing asset retirement and sales transactions.
- Excellent organizational skills and attention to detail, especially for maintaining asset records and physical verification.
- Ability to collaborate effectively with the operations, finance, and audit teams.
- Strong analytical skills for variance analysis and reconciliation tasks.
Why Join Us?
At Exide Energy Solutions, you'll work in a dynamic, innovative environment with a commitment to sustainability and operational excellence. This role offers opportunities for professional growth while directly contributing to our mission of providing reliable, high-quality energy storage solutions.
