The Company derives its income from investments and loans made by it within the Group. It also earns operating revenue from lease rentals on the let out property. The land at Pune is under occupation of Pudumjee Paper Products Limited under Leave & License Agreement, which the Company may develop after proposed extended expiry of the Leave & License Agreement. The Company owns a land of 16 acres at Narsingpur, a District Town, for which plans are being formulated for its development/ sales. These plans may get delayed in view of current Covid pandemic.
In the last month of FY 2020, the COVID-19 pandemic developed rapidly into a global crisis, forcing governments to enforce lock-downs of all economic activity. The government announced lockdown from 24th March, 2020. For the Company, the focus immediately shifted to ensuring the health and well-being of all employee and the operations were conducted by following the Work from home model, to minimize the direct attack of COVID-19 on the employees.
Except as stated above, the Company does not visualize any significant impact of ongoing Covid pandemic and its working or financial affairs.
The Company being a Core Investment Company (CIC) as defined in Core Investment Companies (Reserve Bank) Directions, 2016, mainly make investments in Group Companies as per the norms laid down by regulations and without making public borrowings.
The existing internal controls of the Company are commensurate with its business and are periodically reviewed by Audit Committee, Auditors and are considered adequate.
The Company currently employs one employee.
Sr. No. Ratios | 31st March, 2020 | 31st March, 2019 | % Change | Reason for Change |
1 Interest Coverage Ratio | 35.83 | 0.63 | -5590% | ICD repaid entirely. |
2 Total Debt Equity Ratio | -- | 0.06 | 100% | ICDs given this year, Last year Nil |
3 Current Ratio | 508.34 | 9.45 | 5281% | Net profit margin and return on net worth increased due to sale of TDR |
4 Net Profit Margin (%) | 2.40 | (0.11) | 2301% | Net profit margin and return on net worth increased due to sale of TDR |
5 Return on Net Worth (%) | 0.15 | (0.01) | 2850% | Net profit margin and return on net worth increased due to sale of TDR |
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.