Indian Dry Fruits Limited: Receivable Management
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Code : FCF0012
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Region : India
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Indian Food Industry The Indian food industry is the second largest in the world after the Chinese. At present, the size of the Indian food industry is around US$ 181 billion. It contributes to around two-third of the total Indian retail market. According to the Shrijeet Mishra, Chairman, Food Processing Committee, Federation of Indian Chamber of Commerce and Industry (FICCI), the industry will touch US$ 258 billion by the end of FY15 and US$ 318 billion by the end of FY20... IDFL's Financial Problem At a recent board meeting of IDFL, Gopal Krishna Reddy (GKR), Chairman of the company, praised Kamal Kant (Kant), Chief Executive Officer, and Kapil Gupta (Gupta), Chief Financial Officer, for the impressive financial performance in FY09 as compared to the previous year. He especially mentioned the dramatic change in return on equity, which increased substantially in FY09... Discussion with Teams of Different Factoring Companies Kavita and Kalyan invited all these factors to analyze the accounting books of IDFL. While discussing the matter with a team comprising members of the different factoring companies, Kalyan said, "At present, we sell on terms of 2/14 net 52 . On an average, 60% of the customers pay on the 14th day and avail of the discount and the remaining customers pay 90 days after the invoice date."... |
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