THANGAMAYIL JEWELLERY LIMITED - Keynote

THANGAMAYIL JEWELLERY LIMITEDAs per the Means of Finance an amount of Rs. 1283.59 lacs from the Internal Accruals of theCompany is to be utilized for the project. The balance in the reserves and surplus account as peraudited accounts for the six months ended 30/09/2009 is Rs. 27.99 crores. This justifies theadequacy of the Internal Accrual with reference to the requirement towards the objects of theissueBreak up of Cost of ProjectThe break up of cost of project is as follows:A. Setting up of retail outletsPresently the company has its showrooms at Madurai, Ramanathapuram, Rajapalayam andKaraikudi. The company has identified new locations at Dindigul, Theni, Tuticorin, Nagercoil,Thirunveli, Kovilpatti and Sivakasi wherein the company proposes to open its showrooms. Thecost of construction work for buildings at places where the land is owned by the company hasbeen arrived at based on the estimates given by T.S. Janardhan – Structural Engineer. The cost ofall the interior works at the proposed showrooms is based on the estimates received from M/s.Interior Point India Pvt. Ltd. The detailed cost of opening the showrooms at the various locationsis given below:1. TuticorinThe land at which the proposed showroom at Tuticorin is to be set up is owned by the Company.The area of the land is around 4759 sq. ft. The Company proposes to construct a buildingconsisting of ground, first and second floor all together aggregating to 8923 Sq. ft. at a cost of Rs.94.81 lacs and the cost of interiors to be incurred on showroom is estimated at Rs. 147.00 lacs.The details of other assets for the showroom at Tuticorin are as follows:Particulars Quantity Name of theSupplierDate ofQuotationAmountRs. in LacsGold Assaying1 Quantum Equipment 04/06/2009 11.25machineCo Ltd., ChennaiVehicle 1 ARAS Motors Pvt Ltd 26/05/2009 10.70Generator 1 Sacs Power Pvt Ltd 26/05/2009 8.75Air Conditioner 1 Voltas Ltd 26/05/2009 12.40Lift 1 Kone Elevators Ltd, 25/05/2009 13.50TrichyElectrification Work Not Quantifiable The Electrical27/05/2009 25.19IndustriesTOTAL 81.792. DindigulThe Company has been issued a license for three years from April 01, 2009 to run a shop at No.A1, TS No. 113/2 Salai Road, Dindigul by Diocese of Madurai & Ramnathapuram vide a licenseletter dated January 27, 2009. The said premises belonging to the Diocese comprises of Groundand First Floor and measures about 2700 sq. ft. in each floor and license fee is Rs. 10,000 permonth. An amount of Rs. 25 lacs has been paid by the company as lease deposit towards theshowroom. The cost of Interiors to be incurred on showroom is estimated at Rs. 70.00 lacs.The details of other assets for the showroom at Dindigul is as follows:Particulars Quantity Name of theSupplierDate ofQuotationAmountRs. in LacsGold Assaying1 Quantum Equipment 04/06/2009 11.25machineCo LtdVehicle 1 ARAS Motors Pvt Ltd 26/05/2009 10.70Generator 1 Sacs Power Pvt Ltd 26/05/2009 6.90Air Conditioner 1 Voltas Ltd 26/05/2009 5.00TOTAL 33.85The showroom at Dindigul has since been opened during November 2009.25