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      VERY NICE COMPANY

Results update: As expected E-Land Apparels reported loss. 
Some positives as below:Revenue has increased 34% from 2015 to 2016. Loss after Tax reduced significantly by 50%.
Some surprises as below:The company had entered into lease cum sale agreement with Karnataka Industrail and Development Board (KIADB) in October 2008 for lease cum sale of an industrial land in Bengaluru.The entering value of the land is 1532.73 Lacs as at March 31,2016. If the application is approved E-Land will have the rights and worth of 1532.73 Lacs of Assets. This is super good news.
E-land apprales has made an agreement of rs 300 crore sale for 10 years starting from 15th march 2016. that means Rs 30 crore business per year and quarterly 7.5 crore business. Future is good as parent company is taking initiative to turn around.
We are going to see improvements from this quarter onwards in revenue as well as profit increase (loss decreasing). the land value is a definitely an asset as mentioned in the results update. in the previous year, the company had entered into an agreement for a sale of assets for one of its units located in daman, the conditions of which subsequently have not been complied with and hence terminated. accordingly the above sale is being reversed and classified as "assets held for sale" to reflect the current status. once this materialised in this financial year , we can see changes in the balance sheet. this stock gives chances of series of upper and lower circuits in the days to come. cheers.

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