BBN Bureau
Key shareholders of company include Yusuffali, KSIDC
KOCHI/April 02-2022: Cheraman Financial Services Ltd (CFSL) has reported Rs51.28 lakh loss for the financial year ending March 31, 2021 (FY21) compared with Rs96.37 lakh profit the company logged for the previous year.
CFSL, where KSIDC holds 10.84 per cent stake and Yusuffali MA, 8.86 per cent, has generated total revenue of Rs1.79 crore for the period under discussion compared with Rs2.03 crore for the correspinding earlier period.
Other major shareholders of the company include Siddeeek Ahmed Haji at 17.71 per cent, Ashraf Ali MA at 5.90 per cent and P Mohamad Ali at 6.50 per cent.
Cheraman Infrastructure
During the year under review, Cheraman Infrastructure Pvt Ltd, a wholly owned subsidiary, recorded a profit after tax (PAT) of Rs19.54 lakh against Rs37.37 lakh the subsidiary reported for the previous year.
Suits India
Suits India Pvt Ltd (SIPL) is another company in to which CFSL has invested Rs2.07 crore as equity capital, representing 86.25 per cent of its paid-up capital.
However, SIPL has been excluded from the scope of consolidation as “it no longer satisfies the conditions prescribed for consolidation as per certain section under Accounting Standard 21.”
“On a consolidated basis, CFSL with an authorised capital of Rs1000 crore and a paid-up capital of Rs33.87 crore, has recorded a total income of Rs2.43 crore during the financial year as against Rs2.94 crore in the previous year,” a Cheraman statement noted.
