ORIENTAL INSTITUTE OF MANAGEMENT

Business Project

Synopsis on Business Leader Mr. Abhinav Jain

Made by SONAL JAIN

Acknowledgement I would like to take this opportunity to express my gratitude and sincere thanks to Mr. Abhinav Jain who has taken time out of his busy schedule for my interview. He is a very humble and a knowledgeable person. He has helped me a lot to make this project through his input. I am also very thankful to Professor Kiran Yadav who has given me an opportunity to discover and gain knowledge about a new type of business and industry and at the same time improve my interpersonal skills. This project has also provided me a good amount of practical knowledge.

Research Objective My main aim behind doing this research work is to identify with Mr. Abhinav Jain as a leader and then to learn from him the practicality of business and his leadership qualities. Another objective is to understand his business in as detailed manner as possible and the limitations associated with it.

Content

1. Introduction 1.1Who is Mr. Abhinav Jain? Mr. Abhinav Jain is the son of Lt. Sh. R. K. Jain and Smt. Sarla Jain. He was born on 17th January 1978. He has been born and brought up in Udaipur, City of lakes in Rajasthan. He comes from a very humble family background; his father was a Charted Accountant. He did his Engineering in Textile Chemistry and then worked in a Textile mill .He then did his MBA in correspondence along with his Job. In order to continue his fathers business after his death, he did his C.A. and cleared in first attempt. He has taken his fathers business to new heights i.e. from a simple Audit and taxation service company to a Consolidated Financial Services ltd. He is a very hardworking man, full of enthusiasm. He worked at Vardhaman Textiles ltd at Baddi, Himachal Pradesh for around 2 years under Quality Assurance unit. Then later he had joined BMD Pvt Ltd, LNJ group, Banswara, Rajasthan in Production Unit for 1 year. He worked well enough at the two companies but due to bad health of his father he had to leave the job and then take over the part of C.A ,so that he could continue his fathers business and make him feel better he sacrificed his Textile career and changed his field to C.A .

2. Educational Qualifications:

B. Tech in Textile Chemistry from M.L.V.T.I, Bhilwara, Rajasthan M.B.A. From Institute of Chartered Financial Analysts of India C.A. From The Institute of Chartered Accountants of India Key Beliefs: All power is within you. You can do anything and everything. Believe in that. Swami Vivekanand. Key Skills: Persuasive Communication Skills, Good Listener, Motivator.

1.1

Business at a Glance :

Abhinav Jain overtook the business of his father, who was a Practicing Chartered Accountant, after his death and transformed the single business model into an integrated service provider and is running the same succuessfully with the name of Consolidated Financial Solutions or CFS.

1.2

All About CFS : CONSOLIDATED FINANCIAL SOLUTIONS

Mission Objective : To become a centralized integrated financial services provider for individuals, firms & companies situated throughout India using the revolutions in communication technology as a platform to connect to people across barriers of distance and time to fulfill their evergrowing demand for acute and effective assistance in the field of Finance.

Business Model : The business model of CFS is based on the concept of providing the solutions to all the financial problems under one roof. For the time being following services are being provided by CFS as shown in Fig. 1.1.

Auditing & Assurance

Insurance Services

Accounting & Taxation

Consolidated Financial Solutions

Loaning Services

Stock Brokers & Investment Advisors Fig. 1.1

Venture Capital Financing & Entrepreneurship

Breif Discussion on Each Service Segment 1. Auditing & Assurance This Segment covers the services of Statutory Audit of Companies. Revenue Audit, Concurrent Audit and Statutory Audit of banks. Tax Audits of Individuals, HUFs, Firms & Companies.

2. Accounting & Taxation This Segment provides following specialized services Accounting. Filing of Returns & Consultancy services in fields of Income Tax, Sales tax, Central Excise & Service Tax. 3. Stock Brokers & Investment Advisors The Broking Segment provides A/c for Share trading in NSE & BSE in Cash & F&O. A/c for Currency Trading. A/c for trading in Commodities. A/c for holding Securities in DMAT form. The Investment Advisory segment provides the necessary backbone for successfully running the broking segment by using Latest Financial & Technical Analysis & forecasts, Understanding the overall market scenario domestic as well as international, & Understanding of company fundamentals. So as to take the right decisions at the right time to maximize the profits and minimize the losses of the associated clients. 4. Venture Capital Financing & Entrepreneurship This segment is based on the innovative idea that businesses dont just evolve. They need support and risk initiative which sometimes the individual generating the idea of a new business doesnt have. CFS believes that if you see a market where there is a declining trend in generation of new businesses, then it is imperative to take a

forward step to cultivate business. This is a risk prone segment with its own rewards. This Segment Specializes in Detailed Financial Analysis of New Projects. Technical & feasibility analysis. Providing the necessary Capital either through loaning, or acting as a business associate with a motive to reap the profits on successful implementation of project. 5. Loaning Services This Segment provides negotiation services with nationalized banks for Housing Loans Cash Credit Facilities Overdraft facilities Term Loans 6. Insurance Services This Segment provides services in field of Life Insurance, Medical Insurance, & General Insurance.

Balance Sheet As At
31st March 2011 LIABILITIES Proprietors Capital Account Opening balance Add: Net Profit for the year Less: Drawings Closing Balance Secured Loans Unsecured Loans Current Liabilities & Provisions Total of Liabilities 31st March 2010 31st March 2009 31st March 2008 31st March 2007

3170.72 1514.49 154.11 4531.10 795.12 310.00 59.40 5695.62

2242.73 1064.74 136.75 3170.72 750.41 270.00 45.56 4236.69

1702.96 645.59 105.82 2242.73 542.65 310.00 39.12 3134.50

1410.41 389.80 97.25 1702.96 151.44 250.00 29.54 2133.94

1256.62 239.01 85.22 1410.41 50.27 250.00 15.20 1725.88

ASSETS Fixed Assets Gross Block Less : Accumulated Depreciation Net Block Investments Current Assets, Loans & Advances Inventories Sundry Debtors Cash & Bank Balances Other Current Assets Loans and Advances Total of Assets

1245.43 377.31 868.12 2969.71

1094.55 322.20 772.35 2164.44

967.19 260.81 706.38 1645.22

850.45 203.36 647.09 710.50

802.61 156.24 646.37 450.50

87.17 244.10 835.92 400.60 290.00 5695.62

52.54 129.60 477.01 350.75 290.00 4236.69

45.22 78.00 259.56 250.12 150.00 3134.50

37.10 59.15 283.05 247.05 150.00 2133.94

25.90 39.18 232.43 211.50 120.00 1725.88

Income & Expenditure Account For the Year Ended on

31st March 2011 Income Income From Services (Annexure I) Other Income Total Income Expenditure Personnel Expenses Operating and Administration Expenses Total Expenditure Profit Before Interest, Depreciation And Tax Interest & Financial Charges Depreciation 350.00 194.66 544.66 2084.75 159.75 2244.50

31st March 2010

31st March 2009

31st March 2008

31st March 2007

1579.27 124.02 1703.29

1079.45 94.15 1173.60

669.56 59.42 728.98

433.44 45.00 478.44

300.00 172.46 472.46

250.00 148.12 398.12

180.00 98.27 278.27

120.00 56.00 176.00

1699.84 130.24 55.11

1230.83 104.70 61.39

775.48 72.44 57.45

450.71 13.79 47.12

302.44 9.21 54.22

Profit Before Tax

1514.49

1064.74

645.59

389.80

239.01

Graph Showing Yearwise Trend in Profit Before Tax

Profit Before Tax 2000.00 1500.00 1000.00 500.00 0.00 2011 31st March 2010 31st March 2009 31st March 2008 31st March 2007 31st March

Profit Before Tax

Annexure I Details of Segmental Revenue

31 March 2011 Auditing & Assurance Accounting & Taxation Stock Brokers & Investment Advisors Venture Capital Financing & Entrepreneurship Loaning Services Insurance Services Total 659.10 421.40 241.30 254.44 124.40 384.11 2084.75
st

31 March 2010 561.50 310.40 184.24 137.59 91.29 294.25 1579.27

st

31 March 2009 450.60 260.90 125.00 45.00 72.50 125.45 1079.45

st

(Rs. In 000) 31st 31st March March 2008 241.20 230.40 60.50 0.00 57.00 80.46 669.56 2007 143.50 202.10 0.00 0.00 31.00 56.84 433.44

Graph Showing % Contribution of Each Service Segment to Total Revenue

100% Insurance Services 80% 60% 40% 20% Auditing & Assurance 0% 2011 31st March 2010 31st March 2009 31st March 2008 31st March 2007 31st March Loaning Services Venture Capital Financing & Entrepreneurship Stock Brokers & Investment Advisors Accounting & Taxation