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Money Matters !! Inwinex Pharma and AOL. What is the connection ?

August 6, 2012

AOL typically has very little overheads on anything they do. Everything is run day on day using volunteer money. When things fold….they will have their material assets (Mostly Real Estate). If you asked me I would say that AOL’s primary asset has always been their “Follower Base”. From there everything comes into being for them. After milking this base for over 2 decades now, their primary assets are all in the Real Estate that they have gathered. Also, much of this has been gathered using dubious means creating licenses for Education/University/School and making a show of running them. They do this by not hiring any serious professionals but by showcasing volunteer/devotee CVs against each of the businesses. Take a close look at enrollment in those institutions…..very very poor. Any genuine private business funded legitimately, in that same space would close down……Media Studies / Agricultural college, That big University in Orissa.

Family Ravishankar also own this below business. They have also managed to raise public money into this business as its also listed on the BSE.

http://economictimes.indiatimes.com/inwinex-pharmaceuticals-ltd/balancesheet/companyid-6568.cms

Notice Company Management

1. Arvind Varchaswi N (Nephew) CEO & MD
2. Chandrakanth L Rathi (ex-Apex Body, Mumbai), Additional Director
3. Digvijay Choudhari (Devotee/teacher), Additional Director
4. Gowra Srinivas Additional Director
5. Narayanan Narasimhan (Brother In Law and Banu’s hubby), Non Exe.Chairman & Director
6. Nikhil Sen (Long time Devotee,Nandini Sen’s brother, She left AOL a couple of years ago…..she figured it out too ? He stays, not sure because he is stuck and can’t get out ?, knows too much, has his hand in the pie ?) Additional Director
7. Ramesh Chandra Agarwal Non Executive Director
8. Rashmi Putturu Gopala Company Secretary,Compliance officer
9. Sriram Chandrasekaran (Long time devotee and teacher) Additional Director

Once you hit the page, Also click on the P&L, Share holding and so on to understand the company better. A few observations that I have had looking at their Balance sheet and P&L …..They are as below

  • Dues from the market is > 75 days sales (0.11 Cr on 0.49 Cr Sales) – That is the credit they are giving their customers ?. – norm is not more than 30 days.
  • They have ZERO sales expenses for the latest financial year .
  • Their dues (current liabilities) to the market are a whopping 220 days (7+ months of sales) – either they are really good at bargaining or they are having serious cash flow problems and are not paying suppliers (Do they really have any ?).
  • Admin expenses was 200% of sales (0.9 Cr to 0.49 Cr) last year ….just not right
  • Also, there is listed Personal expenses that is also very high given the sales volume.
  • Their Gross Profit is 14% which is wiped out by his huge indirect costs.
  • Their Capital is coming down from 8.24 to 4.5….what could have been the reason ?
  • Look at inventory on FY 2011….and all the other years. Extremely LOW..almost non-existent
  • WIP capital ….very very little for a manufacturing setup. The last FY was ZERO ?.
  • For a Pharma Co their R&D expense is ZERO !!
  • Who is giving them all these unsecure loans for a company that has been making losses every year ? Who ? Someone very close to the owners no ? Someone who trusts them explicitly. Even though they run a poor business show, loss after loss, year after year. Now, who could that be people…who would that be ??? ?..
  • And see….they have no secure loans worth talking about (ie from the banking channel)
  • You don’t need to be a finance or a business guru to even remotely understand that this company is a front for other activities.

    We all know that family Ravishankar (except for Ajay) do not hold regular jobs. So where did the capital / loans for this come from ? Which thinking investor would put money in this loss making business ?

    PLUS

    There are fundamental disconnects between Ayurveda and Modern day allopathic drugs. Isn’t it a conflict of ethics / principles to push both of these as a family ?

    AND TO THINK THESE GUYS ARE RUNNING WORLDWIDE CONFERENCES ON BUSINESS ETHICS.

    In case you want to know even more do also visit the below link. From there you can download much more in-depth details to the working of the company including board meeting minutes.

    https://beyondaolfree.wordpress.com/2012/07/19/the-story-of-a-farcema-sue-tical-business/

    And, now dear reader it is the time to know what you think and feel about the AOL and Inwinex.

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    14 Comments
    1. anonyfunct permalink
      August 6, 2012 1:01 pm

      what a boring post..this blog will soon die..change the moderators please..bring the doctor back..

      • tbender54 permalink
        August 6, 2012 8:07 pm

        Right on! Nothing to see here- move along please 😉

      • Mangal permalink
        August 6, 2012 9:57 pm

        No way, its a good post… those who have no accounting knowledge can understand the Fraud going on

    2. AnonYmous permalink
      August 6, 2012 4:33 pm

      @anonyfunct

      Whats something so boring about this post. I think Bloggsatwa and Obi-wan are doing a brilliant job in helping us understand the practices / malpractices of AOL .

      And yes, The Blog now has healthy discussions and no unwanted rants like those made by VSS and SS.

      Thank you Bloggisatwa and Obi-wan for keeping this blog sane and civilised. You guys deserve a pat on the back for your no nonsense attitude.

    3. AnonYmous permalink
      August 6, 2012 5:03 pm

      @anonyfunct

      If you have been reading the posts on this blog it should be clear by now that we are not here with some kind of a target that has to be achieved in a given span of time. No, we are not missiles here, ready to explode and destroy AOL / RS.

      As obi-wan mentioned in this comment
      https://beyondaolfree.wordpress.com/2012/07/16/it-was-meant-to-be-this-way/#comment-329

      “we’re not really in any rush to do anything here”.

      Enough information has been shared on these blogs for any sensible person to decide if they have to continue in aol or quit. Further topics are being discussed only to understand the AOL workings better.

      This blog is definitely not for entertainment, for anyone to worry that it will die down.
      People who want to share new information are welcome to do so. Even you anonyfunct are free to post your experiences and observation on AOL, ofcourse, following the rules of this blog 🙂

      I find the post : What Are You Doing Here? really apt for such a blog.

    4. rajee permalink
      August 7, 2012 5:43 am

      Sensible post and the right way to enlighten the blind followers with facts. This post should be an eyeopener. Only such posts can shake them up and bring them out of their inertia. So many families are impacted by such brainwashed zombies who think doing kriya is the ultimate to rid oneself of bad karma and keep going back to the same fold, shelling out their hard earned money. Do they question whether the money is well spent? The same zombies at home in their household will question their wives thousand times the account for every 50 paise. Then they call themselves the chosen ones, blessed with guru’s grace, real liberated souls etc etc… Coming to think of it like guru like followers! Deception, lies, fabrication are nothing new for them!
      By bringing out such authentic posts, even if it brings about a change atleast in one soul, one whole family circle can be saved.
      Keep up the good work

    5. Anonymous permalink
      August 7, 2012 11:36 am

      If this post does not awaken the AOLites and make them realize the truth behind AOL, nothing else will. Beyond this, its AOLites’ self-destined fate that they have trapped themselves in this mire!

    6. Anonymous permalink
      August 7, 2012 11:41 am

      At an average of atleast 600 hits per day since this blog’s inception, I am sure, there are a lot more who read (or atleast watch) than just a few who contribute on this blog. To those who are reading without any contribution: if you are from AOL, I am wishing you all use the information here and please plot your recovery from the damage AOL has done to your lives. Life out of AOL is indeed a lot better and happier

    7. Anonymous permalink
      August 7, 2012 3:01 pm

      Great post Bloggisat! About the loans coming from who-knows-where — Hard to know, but I suspect this is simply elaborate money laundering. The ‘loan’ could be all that cash that is flowing in ‘loaned’ to keep this ‘business’ running, so that the ‘admin costs’ can keep flowing out (i.e. into the greedy hot hands of Ravi Shankar’s family and appointed friends helping with this laundering). This is, of course, a guess, and I would never have guessed this in the past, thinking he was waaay too smart for such nonsence. But the lost lawsuit, the existence of a specious lawsuit at all, proves to me that he aint so smart as we all thought! Or, perhaps his advisors are so dulled out by the constant proximity to him, that they no longer thing legal things through? Putting such a company on the BSE seems very foolhardy, since it opens it to public scrutiny and investigation by authorities. Could he really be that stupid? Could his relative and friends from IIT really be so naive as to believe that his ‘powers’ will protect them if this is looked into closely by the powers that be? Maybe they really really believe he is God???

    8. Anonymous permalink
      August 7, 2012 11:11 pm

      @Bloggisatwa

      Great post which needs to be on the home page for some more time.

      You have sidelined this important post too soon. Please revert it to the front page so that more visitors see this.

      • bloggisatwa permalink
        August 7, 2012 11:40 pm

        Ok. Let me check, I need to see how to do this without having to take out the current one but to just move it to the back a little.

    9. Original Anonymous SCS permalink
      August 10, 2012 3:52 pm

      An NGO cannot use its funds for profit. The funds are first transferred to this company.

      The losses and expenses they are showing is actually going into their own pockets.

      I showed this balance sheet to some body really reliable who has been investing into stocks since 20+ years, he looked at the balance sheet and said within a few seconds that this company is a fraud company. (I didn’t tell him that this company is linked to AoL)

      The funds goes to NGO from there to company and the expenses and losses are actually the funds they are minting away, its so very clear.

      Why isn’t invinex not advertised in aol circles like Sumeru etc? Because they don’t want anyone to know about this company.

    10. bloggisatwa permalink
      September 11, 2012 6:31 am

      More here

      http://aolfree.wordpress.com/2010/05/23/sick-money/

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