MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
GODREJ INDUSTRIES
LIMITED |
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Registered Office : |
Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai – 400 079, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.03.1998 |
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Com. Reg. No.: |
11-97781 |
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CIN No.: [Company
Identification No.] |
L24241MH1988PLC097781 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG07967B |
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Legal Form : |
Public Limited Liability company. The company’s shares are
listed on the Stock Exchanges |
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Line of Business : |
Manufacturers and marketing of soaps, cosmetics, detergents, fatty acids, glycerine, solvent extraction, alpha olefin and its precursors and derivatives, hydrogen (captive consumption) and oxygen (by-product). |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company of Godrej Group. Available information indicates high financial responsibility of the company. Financial position of the company is good. Business is active. Payments are always correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai – 400 079, Maharashtra, India |
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Tel. No.: |
91-22-25188010 / 25188020 / 25188030 |
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Fax No.: |
91-22-25188066 / 25188074 |
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E-Mail : |
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Website : |
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Factory 1 : |
Vikhroli Pirojshanagar,
Eastern Express Highway, Vikhroli, Mumbai 400 079 |
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Tel. No.: |
91-22 -2518
8010,2518 8020,2518 8030 |
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Fax No.: |
91-22-2518
8068/2518 8074 |
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Factory 2 : |
Valia Burjorjinagar, Plot
No. 3, Village Kanerao, Taluka - Valia, District Bharuch, Gujarat 393 135 |
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Tel. No.: |
91-2643-270756 to
270760 |
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Fax No.: |
91-2643-270018 |
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Factory 3 : |
Wadala LM. Nadkarni
Marg, Near M.P. T. Hospital, Wadala (East), Mumbai 400 037. |
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Tel. No.: |
91-22-2412
6320/23, 24146296 |
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Fax No.: |
91-22 - 2412
6204/2416 4599 |
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Factory 4 : |
Mandideep Plot No. 5, New
Industrial Area No. 1, Mandideep, District Raisen, Bhopal - 462 046, Madhya
Pradesh |
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Tel. No.: |
91-7480 -
233405-6 |
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Fax No.: |
91-7480 - 233409 |
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Branches : |
Delhi 4th Floor, Delite Theatre Building, 4/1, Asaf Ali Road, New Delhi 110 002 Phone :91-11 -2326 1069/76 Fax : 91-11 -2326 1088 Kolkata Block GN, Sector-V, Salt Lake City, Kolkata 700 091. Phone : 91-33 - 2357 3556, 2357 3555 Fax : 91-33 - 2357 3945 Chennai New No. 102, (Old No. 81), Chamiers Road, Chennai 600 028. Phone : 91-44 - 2431 5721/2431 5722 Fax : 91-44 - 2431 5723 London 284A, Chase Road, Southgate, London N14 - 6HF., UK Phone : (004420) - 88860145 Fax : (004420) - 88869424 |
DIRECTORS
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Name : |
Mr. Adi Burjorji Godrej |
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Designation : |
Chairman |
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Name : |
Mr. Nadir Burjorji Godrej |
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Designation : |
Managing Director |
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Name : |
Mr. Jamshed Naoroji Godrej |
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Designation : |
Director |
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Name : |
Mr. Kaikhushru Nadirsha Naoroji |
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Designation : |
Director |
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Name : |
Mr. Vijay Mohan Crishna |
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Designation : |
Director |
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Name : |
Mr. Saleem Anwar Ahmadullah |
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Designation : |
Director |
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Name : |
Mr. Narayan Chintaman Gawankar |
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Designation : |
Director |
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Name : |
Mr. Vasant Narayan Gogate |
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Designation : |
Director |
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Name : |
Ms. Tanya Arvind Dubhash |
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Designation : |
Director (Marketing) |
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Name : |
Mr. Mathew Eipe |
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Designation : |
Executive Director & President (Chemicals) |
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Name : |
Mr. Chandrashekhar Kashinath Vaidya |
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Designation : |
Executive Director (Corporate Personnel) |
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Name : |
Mr. F. P. Sarkari |
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Designation : |
Director |
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Name : |
Mr. M. P. Pusalkar |
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Designation : |
Executive Director & President (Food Division) |
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Name : |
Mr. Kersi Kaikhushru Dastur |
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Designation : |
Executive Director (Finance) |
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Name : |
Mr. K. N. Petigara |
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Designation : |
Director |
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Name : |
Mr. V.F. Banaji |
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Designation : |
Executive
Director and President (Group Corporate Affairs) |
KEY EXECUTIVES
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Name : |
Mr. S. K. Bhat |
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Designation : |
Company Secretary |
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Name : |
Mr. Adi Burjorji Godrej |
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Designation : |
Chairman |
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Date of Birth/Age : |
59 years |
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Qualification : |
B.S., M.S. Engineering & Industrial Management (M.I.T., U.S.A.) |
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Experience : |
37 years |
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Date of Appointment : |
18.02.1964 |
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Name : |
Mr. Nadir Burjorji Godrej |
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Designation : |
Managing Director |
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Date of Birth/Age : |
49 years |
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Qualification : |
B.S., Chem. Engineering (Stanford, U.S.A.), M.B.A. |
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Experience : |
25 years |
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Date of Appointment : |
24.12.1976 |
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Name : |
Mr. Chandrashekhar Kashinath Vaidya |
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Designation : |
Executive Director |
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Date of Birth/Age : |
51 years |
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Qualification : |
B. Tech., P.G.D.M. |
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Experience : |
27 years |
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Date of Appointment : |
01.10.1996 |
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Previous
Employment : |
Godrej Agrovet Limited, Mumbai (5 years) |
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Name : |
Mr. Kersi Kaikhushru Dastur |
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Designation : |
Executive Director |
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Date of Birth/Age : |
60 years |
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Qualification : |
B.Com., A.C.A. |
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Experience : |
36 years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Indian |
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Promoters Holding |
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Individuals/ Hindu Undivided Family |
67900750 |
23.27 |
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Bodies Corporate |
187202388 |
64.14 |
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Institutional Investors |
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Mutual Funds & UTI |
2593789 |
0.89 |
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Bank, Financial Institutions and Insurance Companies |
5770 |
0.00 |
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Insurance Companies |
424614 |
0.15 |
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Foreign Institutional Investors |
4547579 |
1.56 |
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Non institutions |
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Bodies Corporate |
7464494 |
2.56 |
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Individuals |
9469922 |
3.76 |
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Individual Shareholders |
10705914 |
3.67 |
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Total |
290315220 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and marketing of soaps, cosmetics, detergents, fatty acids, glycerine, solvent extraction, alpha olefin and its precursors and derivatives, hydrogen (captive consumption) and oxygen (by-product). |
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Products : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Fatty Acids |
MT |
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32000 |
40397 |
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Glycerin |
MT |
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8280 |
7909 |
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Alpha Olefin and its Precursores and Derivatives |
MT |
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35000 |
51624 |
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Soaps |
MT |
|
26381 |
19075 |
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Cosmetics |
MT |
|
1200 |
-- |
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Fruit Beverages and Fruit Based Products |
KL |
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30000 |
3392 |
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Fruit & Vegetable Puree, Pulp and Juices |
MT |
|
5000 |
1561 |
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Refined Oils and Vanaspati |
MT |
|
38700 |
16046 |
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Dietetic and Geriatic Foods |
MT |
|
250 |
28 |
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U.H.T./Sweetend Flavoured Milk |
KL |
|
1800 |
-- |
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Synthetic Detergents |
MT |
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11250 |
11492 |
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Hydrogen (Captive Consumption) |
NM 3 |
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1224000 |
543602 |
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Oxygen (By-Products) |
NM 3 |
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612000 |
271801 |
GENERAL
INFORMATION
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Customer |
v
B.
P. Koirala Institute of Health Sciences, Nepal v
Lister
Metropolis Laboratory & Research Centre Private Limited, Chennai v
Deptt.Of
Microbiology, AIIMS,New Delhi v
Apollo
Hospital, Chennai v
Deptt.Of
Parasitology, PGI, Chandigarh v
Madras
Medical Mission, Chennai v
Vatsalaya
Shishu Chikchalaya, Rajasthan v
Chennai
Corporation, Chennai v
Dr
V. S. Ghambir, Phangwara, Punjab v
Kovai
Medical Centre & Hospital Limited, Coimbatore v
Kuldeep
Diagnostics, Haryana v
KMC
Diagnostic Centre, Mangalore v
Dr
N. K. Jajodia, Orissa v
Vijaya
Diagnostic Center, Secundarabad v
Dr
A. K. Singh, Orissa v
Sri
Venkateshwara Institute of Medical Sciences (SVIMS), Tirupati v
District
Headquarter Hospital, Bolangir, Orissa v
Endocrinology
& Immunology Lab, Kochi v
District
Headquarter Hospital, Sundergarh, Orissa v
Devi
Laboratory Services, Thiruvananthapuram v
Akshaya
Apollo Hospital, Gandhinagar v
Southern
Command Hospital, Pune v
Green
Cross Laboratory, Ahmedabad v
Goa
Medical College, Bambolim v
Central
Path Lab, Gwalior v
Bhopal
Memorial Hospital & Research Centre, Bhopal v
Bombay
Hospital Blood Bank, Mumbai v
Dr
Pankaj Shah, Ankur Path Lab, Mumbai v
Endolab,
Pune v
Dr.
Daswani Lab Colaba, Mumbai v
St.
Luke’s Hospital, Ahmednagar v
Gokuldas
Hospital, Indore v
Rajkot
Cancer Society, Rajkot v
Advanced
Diagnostics Laboratory, Amravati v
Dr
Ramesh Ostwal, Raipur v
Samrat
Endocrinology Laboratory, Aurangabad v
Apollo
Hospital, Bilaspur |
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No. of Employees : |
2000 |
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Bankers : |
v Central Bank of India v State Bank of India v Bank of India, Mumbai v HDFC Bank Limited v Citibank N. A. v Canara Bank v The Hongkong & Shanghai Banking Corporation Limited |
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Facilities : |
Secured Loans (Rs. In millions) :
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Kalyaniwalla & Mistry Chartered Accountants |
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Parent Company : |
Godrej Group [The group was established in 1897. It is the one of the country’s most remarkable industrial corporations.] |
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Associates/Subsidiaries : |
ASSOCIATES v Godrej SaraLee Limited v General Mills Private Limited v Godrej Photo-Me Limited v Godrej & Boyce Manufacturing Company Limited v Wadala Investments Limited v Swadeshi Detergents Limited v Vora Soaps Limited v Lawkim Limited v Godrej Appliances Limited v Godrej Consumer Products Limited v Godrej Infotech Limited v Godrej Properties & Investments Limited v Godrej Telecom Limited SUBSIDIARIES v Godrej Agrovet Limited v Goldmohur Foods & Feeds Limited v Godrej Properties & Investments Limited v Tahir Properties Limited v Girikandra Holiday Homes & Resorts Private Limited v Ensemble Holdings & Finance Limited v Godrej Remote Services Limited v Godrej International Limited v Godrej Global Mid East FZE v Sahyadri Aerosols Limited v Godrej Plant Biotech Limited v Godrej Capital Limited v Godrej Oil Palm Konkan Limited v Puran Plastics & Chemicals Limited v Godrej Consumer Products Limited v Godrej Infotech Limited v Godrej Appliances Limited v Godrej Foods Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
133333333 |
Equity Shares |
Rs.6/- each |
Rs.800.000 millions |
|
100000000 |
Unclassified
Shares |
Rs.10/- each |
Rs.1000.000 millions |
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Total |
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Rs.1800.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
48641942 |
Equity Shares |
Rs.6/- each |
Rs.291.852 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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291.852 |
291.852 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
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3421.668 |
3061.783 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
3713.52 |
3353.635 |
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LOAN FUNDS |
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1] Secured Loans |
|
2491.089 |
2207.567 |
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2] Unsecured Loans |
|
780.324 |
355.713 |
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TOTAL BORROWING |
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3271.413 |
2563.28 |
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DEFERRED TAX LIABILITIES |
|
381.800 |
250.200 |
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TOTAL |
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7366.733 |
6167.115 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2807.197 |
2353.669 |
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Capital work-in-progress |
|
52.238 |
156.309 |
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INVESTMENT |
|
3713.467 |
3357.728 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
1189.238 |
1075.176 |
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Sundry Debtors |
|
580.656 |
860.444 |
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Cash & Bank Balances |
|
125.963 |
137.788 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
768.873 |
413.223 |
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Total Current Assets |
|
2664.73 |
2486.631 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
1572.632 |
1705.024 |
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Provisions |
|
520.203 |
494.828 |
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Total Current Liabilities |
|
2092.835 |
2199.852 |
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Net Current Assets |
|
571.895 |
286.779 |
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MISCELLANEOUS EXPENSES |
|
221.936 |
12.630 |
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TOTAL |
|
7366.733 |
6167.115 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
|
8026.988 |
8235.302 |
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Profit/(Loss)
Before Tax |
|
551.286 |
750.602 |
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Provision for
Taxation |
|
149.868 |
(6.900) |
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Profit/(Loss)
After Tax |
|
401.418 |
757.502 |
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Export Value |
|
1514.954 |
1537.335 |
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Total Expenditure |
|
7475.702 |
7484.700 |
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2006 (1st Qtr) |
30.09.2006 (2nd Qtr.) |
30.12.2006 (3rd Qtr.) |
|
Sales Turnover |
1606.900 |
1758.700 |
1529.8 |
|
Other Income |
219.200 |
276.900 |
417.2 |
|
Total Income |
1826.100 |
2035.600 |
1947.0 |
|
Total Expenditure |
1503.100 |
1755.200 |
1484.3 |
|
Operating Profit |
323.000 |
280.400 |
462.7 |
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Interest |
95.700 |
90.400 |
.71 |
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Gross Profit |
227.300 |
190.000 |
375.6 |
|
Depreciation |
58.700 |
59.100 |
64.5 |
|
Tax |
1.700 |
1.000 |
1.5 |
|
Reported PAT |
165.200 |
126.400 |
322.4 |
200606 Quarter 1
Notes
Expenditure Includes (Increase) / Decrease in Stock in Trade Rs (10.20) million Consumption of Raw Materials & Purchase of goods Rs 1034.50 million Staff Cost Rs 163.20 million Other Expenditure Rs 315.60 million Tax Includes Provision for Current Tax Rs 1.70 million Deferred Tax Rs 1.70 million EPS is Basic and Diluted Status of Investor Complaints for the quarter ended June 30, 2006 Complaints Pending at the beginning of the quarter Nil Complaints Received during the quarter 17 Complaints disposed off during the quarter 17 Complaints unresolved at the end of the quarter Nil 1. These results were taken on record at the meeting of the Board of Directors of the Company held on July 24, 2006 and have been subject to limited review by the statutory auditors and are being published in accordance with Clause 41 of the Listing Agreement. 2. The Auditors' Report for the year ended March 31, 2006 draws reference to note 8 (b) of Schedule 22: Notes to Accounts regarding recoverability of advances given to certain individuals being contingent upon the transfer and/or disposal of the shares pledged against the loan. The Company has enforced its securities and lodged the shares for transfer in its name, however, the transfer application has been rejected and the Company has filed an appeal before the Company Law Board. 3. Prior period & extraordinary item for the quarter ended June 30, 2006 represents prior period income of Rs 9.40 million on account of sale of Foods division at the closing hour of March 31, 2006. (Previous year ended March 31, 2006 Rs 351.10 million of extraordinary income on sale of Foods Division). 4. Figures for the quarter ended June 30, 2005 and year ended March 31, 2006 include the financial results pertaining to the Foods Division. The Foods division (excluding the bulk oil and processing business at Wadala factory) was sold by the Company with effect from close of working hours on March 31, 2006. The figures for the quarter ended June 30, 2006 are thus not comparable to that extent. 5. Godrej Beverages & Foods Limited (GBFL) has ceased to be a subsidiary of the company w.e.f. May 08, 2006, consequent to a preferential issue of equity shares by GBFL. 6. Figures for the previous period have been regrouped / restated wherever necessary to facilitate comparison.
200609 Quarter 2
Notes:
EPS is Basic and diluted. 1. These results were taken on record at the meeting of the Board of Directors of the Company held on 30th October, 2006 and have been subject to limited review by the statutory auditors and are being published in accordance with Clause 41 of the Listing Agreement. 2. The Auditors' Report for the year ended 31st March, 2006 draws reference to Note 8(b) of Schedule 22: Notes to Accounts regarding recoverability of advances given to certain individuals being contingent upon the transfer and/or disposal of the shares pledged against the loan. The Company has enforced its securities and lodged the shares for transfer in its name, however, the transfer application has been rejected and the Company has filed an appeal before the Company Law Board. 3. The results for the quarter ended 30th September, 2006 have been impacted by the scheduled periodic maintenance shutdown of the company's factory at Valia for about 3 weeks resulting in additional repairs and maintenance expenditure of Rs. 17.300 millions and absence of production. The periodic maintenance of the cogeneration plants at Valia also resulted in higher repairs and maintenance expenditure of Rs. 20.700 millions. 4. Figures for the quarter and half year ended 30th September, 2005 and year ended 31st March, 2006 include financial results pertaining to the Foods Division. Foods Division (excluding the bulk oil and processing business at Wadala factory) was sold by the Company with effect from the close of working hours on 31st March, 2006. The figures for the quarter and half year ended 30th September, 2006 are thus not comparable to that extent. 5. Prior period & extraordinary items for the half year ended 30th September, 2006 of Rs. 9.400 millions and previous year ended 31st March, 2006 of Rs. 351.100 millions represent income on sale of Foods Division. 6. Other Income/(expenses) include exceptional terms detailed below. Particulars Quarter ended 30.09.2006(in millions) Recovery of loan written off earlier 600.00 Write back of provision for depletion of Investment 300.00 Total 900.00 7. Status of Investor Complaints for the quarter ended September 30, 2006 Complaints Pending at the beginning of the quarter Nil Complaints Received during the quarter 15 Complaints disposed off during the quarter 15 Complaints unresolved at the end of the quarter Nil 8. Pursuant to the approval of the shareholders at the annual General meeting held on 24.07.2006 each equity share of Face value Rs. 6/- has been split into 6 equity shares of Rs. 1/- each with effect from 01.09.2006. Accordingly, the number of equity shares shown under ' Aggregate of Non-Promoter Shareholding' 2006are Rs. 1/- each and as on 30th September 2005 and 31st march 2006 are of Rs.6/- each. Further, in accordance with Accounting Standard 20, 'Earning per Share' issued by the institute of Chartered Accountants of India, the EPS for the comparative periods have been calculated based on the revised number of shares.
200612 Quarter 3
Notes:
EPS is Basic and Diluted 1. These results were taken on record at the meeting of the Board of Directors of the Company held on 30th January, 2007 and have been subjected to limited review by the statutory auditors and are being published in accordance with Clause 41 of the Listing Agreement. 2. The Auditors' Report for the year ended 31st March, 2006 draws reference to Note 8(b) of Schedule 22: Notes to Accounts regarding recoverability of advances given to certain individuals being contingent upon the transfer and/or disposal of the shares pledged against the loan. The Company has enforced its securities and lodged the shares for transfer in its name, however, the transfer application has been rejected and the Company has filed an appeal before the Company Law Board. 3. The results for the nine months ended 31st December, 2006 have been impacted by the scheduled periodic maintenance shutdown of the Company's factory at Valia for about 3 weeks resulting in additional repairs and maintenance expenditure of Rs. 17.300 millions and absence of production. The periodic maintenance of the cogeneration plants at Valia also resulted in higher repairs and maintenance expenditure of Rs. 20.700 millions. 4. Figures for the quarter and nine months ended 31st December, 2005 and year ended 31st March, 2006 include financial results pertaining to the Foods Division. The Foods Division (excluding the bulk oil and processing business at Wadala factory) was sold by the Company with effect from the close of working hours on 31st March, 2006. The figures for the quarter and nine months ended 31st December, 2006 are thus not comparable to that extent 5. Prior period & extraordinary items for the nine months ended 31st December, 2006 of Rs. 94 lac and previous year ended 31st March, 2006 of Rs. 3511 lac represent income on sale of Foods Division. 6. Other income/(other expenses) Include exceptional items detailed below: (Amounts in Rs. millions) December 31st 2006 Particulars Quarter Nine Ended Month Ended 1. Recovery of Loan written off earlier - 600 2. Write back of provision for depletion of investment - 300 3. Profit on sale of long term investment 35223522 Total 3522 4422 7. Pursuant to the approval of the shareholders at the Annual General Meeting held on 24th July, 2006, each equity share of face value Rs. 6/- has been split into 6 equity shares of Re. 1/- each with effect from 1st September, 2006. Accordingly, the number of equity shares shown under Aggregate of Non-Promoter Shareholding as on 31st December, 2006 are of Re. 1/- each and as on 31st December, 2005 and 31st March, 2006 are of Rs. 6/- each. Further, in accordance with Accounting Standard 20, Earnings Per Share issued by The Institute of Chartered Accountants of India, the EPS for the comparative previous periods have been calculated based on the revised number of shares. 8. Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended 31st December, 2006. Complaints outstanding as on October 1, 2006 Nil Complaints received during quarter ended December 31, 2006 12 Complaints resolved during quarter ended December 31, 2006 12 Complaints outstanding as on December 31, 2006 Nil 9. Figures for the previous period have been regrouped/restated wherever necessary to facilitate comparison.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.89 |
0.83 |
0.93 |
|
Long Term
Debt-Equity Ratio |
0.70 |
0.66 |
0.70 |
|
Current Ratio |
0.84 |
0.82 |
0.80 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
1.62 |
1.77 |
1.66 |
|
Inventory |
7.02 |
7.52 |
7.01 |
|
Debtors |
11.03 |
10.39 |
10.36 |
|
Interest Cover
Ratio |
1.92 |
2.55 |
6.55 |
|
Operating Profit
Margin(%) |
9.81 |
10.98 |
14.27 |
|
Profit Before
Interest And Tax Margin(%) |
6.97 |
8.35 |
11.46 |
|
Cash Profit
Margin(%) |
4.89 |
8.01 |
12.61 |
|
Adjusted Net
Profit Margin(%) |
2.05 |
5.38 |
9.80 |
|
Return On Capital
Employed(%) |
9.14 |
13.26 |
19.59 |
|
Return On Net
Worth(%) |
4.98 |
15.57 |
32.03 |
STOCK PRICES
|
Face Value |
Rs.10.00/- |
|
High |
Rs.176.95/- |
|
Low |
Rs.170.20/- |
LOCAL AGENCY
FURTHER INFORMATION
The company was incorporated on 13th August 1928 at Mumbai in Maharashtra having Company Registration Number 1416.
The company established in 1897 was called Godrej Soaps (GSL) until 31.03.2001. The company had restructured its business into consumer products, chemicals and medical diagnostics and hived off its consumer products business / division to Godrej Consumer Products (GSPL) w.e.f. 01.04.2001 and subsequently the name of the company had changed to Godrej Industries Limited.
As said earlier the company’s chemical division was a leading manufacturer of Olechemicals in India and it had two manufacturing facilities at Valia in Gujarat and Vikhroli near Mumbai.
The company co-generation plants for simultaneous generation of electricity and steam were commissioned in December, 1997 at Valia and in May, 1998 at Vikhroli.
The company was incorporated under the Companies Act, 1956 on 07.03.1988 under the name of Gujarat – Godrej Innovative Chemicals Limited. The business and undertaking of the erstwhile Godrej Soaps Limited was transferred to the company’s under a scheme of amalgamation with effect from April 1, 1994 and the company’s name was changed to Godrej Soaps Limited on 06.01.1995.
Subsequently, under a scheme of arrangement for consumer products divison of the company was demerged with effect from April 1, 2001 into a separate company Godrej Consumer Products Limited (GCPL). The company’s name was thereafter changed to Godrej Industries Limited on 02.04.2001.
The company was incorporated to take over the business of Godrej Soaps Company, which was then carrying on the business of Soap, Perfumery and Candle Manufacturers.
The company is a member of Godrej Group is India’s manufacturer of oleochemicals and makes more than 100 chemicals which was used in over two dozen industries. The company is also a major player in food products and had interests in Medical Diagnostics and Real Estate.
On December 8, 2000, the company approved the scheme of demerger of its consumer products division as a going concern to a new company viz. Godrej Consumer Products Limited with effect from 01.04.2001. The scheme received approval of the High Court, Mumbai on 14.03.2001. Accordingly, with effect from 01.04.2001, the consumer products division of the company was demerged into Godrej Consumer Products Limited, a new company formed for this purpose.
BUSINESS
The company is engaged in manufacturing and marketing of soaps, cosmetics, detergents, fatty acids, glycerine, solvent extraction, alpha olefin & its precursors & derivatives, hydrogen (captive consumption) and oxygen (by-product).
Subject manufactures and markets soaps (main brands - Cinthol, Ganga, Evita, Marvel) and toiletries (hair dye, shaving cream, talcum powder) under its consumer products division. It also manufactures industrial chemicals, fatty acids, glycerine and fatty alcohol under its chemicals division (erstwhile Gujarat Godrej Innovative Chemicals).
The company which so far engaged only in trading in edible oils had taken over the manufacturing business of Godrej Foods together with sales, marketing, finance and other related functions through a demerger. This food division produces edible oils, vanaspathi, bakery fats, fruit drinks and fruit nictar,
Company’s fixed
assets include land, buildings, plant and machinery, research centre, furniture
and fixtures, office and other equipments and vehicles.
The company has manufacturing facilities at Vikhroli & Wadala -Maharashrta,
Valia -Gujarat and Mandideep -Bhopal. Vikhroli and Valia are the manufacturing
facilites of Chemical Division of the company. During 2004-05 the company has
decided to expand the manufacturing facilites at Valia by setting up an export
oriented unit which is expected to commenced its operations in 2005-06. Further
the two chemical division took various initiatives for de-bottlenecking,
reducing engery consumption and cost and quality improvement during 2004-05.
Wadala and Mandideep are the food division manufacturing facilities.
The subsidiaries of the company are Godrej Agrovet Limited, Godrej Properties
Limited, Godrej Remote Services Limited, Ensemble Holdings & Finance
Limited, Godrej International Limited, Godrej Global Solutions Limited, Godrej
Tea Limited, Godrej Hicare Limited, Golden Feed Products Limited, Global Global
MidEast FZE, Goldmohur Foods & Feeds Limited and Girikanda Holiday Home
& Resorts Limited.
Subject which so far engaged only in trading in edible oils has taken over the manufacturing business of Godrej Foods together with sales, marketing, finance and other related functions through a demerger. This food division produces edible oils, vanaspathi, bakery fats, fruit drinks and fruit nictar. The company Co-generation plants for simultaneous generation of electricity and steam were commissioned in December, 1997 at Valia and in May, 1998 at Vikhroli.
Website
Details :
Medical diagnostics division
The medical diagnostics division
of Godrej Industries was established in 1992. It used to be known as the
biotechnology division, and was under Godrej Soaps Limited before coming into
the fold of Godrej Industries, following the change in the company's name in
2001.
The medical diagnostics division
has garnered over 2,000 satisfied customers across India. Their customer list
includes prestigious institutions in urban areas as well as small ones in
remote villages.
Their network consists of three
regional offices, in Mumbai, Delhi and Chennai, and distributors all over
India.
Their mission
They are in the business of distribution
of diagnostic equipment and consumables to the medical community.
Their objective is to provide products with superior technology that offer
quality and customer satisfaction.
They shall achieve this objective by regular stheircing of suitable products
based on customer needs, backed by an efficient distribution system and their
commitment to service
Their tie-ups
Becton Dickinson – USA
In 1992 they took up the
distribution of their products in India as exclusive distributors.
Products :
v
QBC Reference
II Haematology System
v
OBC Malaria
Parasite Detection System (QBC Paralens)
v
Specific uses
of QBC Centrifugal Haematology and Blood Parasite Detection System
v
Automated
Hematology Analyser
Distributors :
North
Jain
International
101, Prafulla Palace, Govind Mitra Road, Patna,
Bihar - 800004
Tel: 91-612- 2301922
Fax: 91-2666374
Zeal
India Chemicals
Aroma Palace, G-4, Ground Floor, Main Road, Ranchi,
Jharkhand -317606
Tel: 91-651- 2317606 / 2306876 (fax)
Tel: 91-651-2512455 / 2275717
Excellent
Trading Company
710/9 Near Star Bakery, Sipri Road
Civil Lines, Jhansi
UP - 284003
Tel: 91-517-2440125 / 2442577
Batra
Agencies
56 A, 12th E Road,
Sardarpura, Opp Medical College, Jodhpur,
Rajasthan - 342003
Tel: 91-291- 2614274 / 2628744
Mobile : 91-9414129274
Jain
Surgichem
LIC Building, Delhi Gate,
Udaipur,
Rajasthan - 313001
Tel: 91-294-2411809
Jayesh
Associates Near Bank of Baroda JLN Hospital Road Ajmer, Rajasthan
Tel: 91-145-2420551 / 2430176
Natur
O Tech
136 M L Nehru Road,
Pan Bazar, Guwahati,
Assam
Tel: 91-361- 2513612 / 2600479
email: ronythoudam@hotmail.com
Intensive
Drug Distributor
AIE Apartment, F C Road, Uzan Bazar Guwahati,
Assam - 781001
Tel: 91361- 2522049 / 2515743 (Fax),
email: idda@satyam.net.in
Medi
King
Farm Road, Sambalpur
Orissa - 768002
Tel: 91663-2400046
email: medikingindia@hotmail.com
Eastern
Scientific Corporation
Bijoy Kumar Chowmuhani
Agartala,
Tripura - 799001
Tel: 91-381-2223141 / 226846
Mr.
Sanjay,
Mangalam Surgicals & Pharmacuticals,
16, Hawala Marg, Ajanta Hotel Street,
Udaipur - 313001
Rajasthan
Tel: 91-294-2410645
Mobile : 91-9414156645
Mr.
Hiten Jain
Arihant Agencies, LG 23,
Vikram Tower,
Sapna Sangeeta Road,
Indore - 452 001
Mobile: 91-98275006890
Mr.
Rabindra Senapati,
Rabindra Surgicals Private. Limited,
121, Bhimpur,
Near Aerodrome Main gate,
Bhubaneswar - 20,
Orissa
Tel: 91-674-2530044 / 2533262
Mr.
S. Roy Chowdhary,
Fleming Laboratories,
40, Ezra Street
Kolkata - 700 001
Tel: 91-33 -22356756 / 22156730
West
Mr
Ram Chavan
Anjelica Medisystems,
34, Hemant Mayekar Market,
GTB Nagar,
Sion Koliwada,
Mumbai - 37
Tel: 91-22- 24038866
Mr
Chirag Shah
Max Enterprises 19, Premchand Nagar Row House, 1st Lane, Opp AM-PM Super Market
Judges Bunglow Road, Outside Octroi Limit Vastrapura,
Ahmedabad – 380 015
Tel: 91-79-6765505 / 676 5506 Fax: 079 – 676 55061
Mr
Pankaj Soni
Maruti Enterprise
410, Saffron Complex,
Fategunj,
Baroda - 390002
Tel: 91-265 - 785778 / 783535
Mobile: 91-9824038767
Mr
Sandip Agarwal
Mr Manish Agarwal
Scientific Supplies & MFG Co, Nai Sarak,
Gwalior - 474 001
Tel: 91-751-232 7830 / 2322830
Fax: 91-2329830
Mr
Mahesh Madhav
Udit Agencies, 21,
Alok Press Chouraha
First Floor, Tallaiya Road,
Bhopal - 462 001
Tel: 91-755-2546 337
Mr
Vikram Gambhir
Scientific Traders, 30 / 162, Tatyapara, Badaipara Road,
Raipur - 492 001
Tel: 91-771-2225373 / 2227753
Fax: 91-5032645
Mr
Salim Umrani
Modern Diagnostics
26, New Medical Complex,
GE Road,
Raipur
Tel: 91-771-225 912 / 630225
Fax: 91-254819
Mr
Jayesh Kamdar
Vansiro Diagnostics
32, Karanpara,
Behind S T Stand,
Rajkot - 360 001
Tel: 91-281- 223 199 / 240 549
Fax: 91-281- 240557
Mr
Kamal Kalra
Mediline Diagnostics
G-37, Indrasan Complex,
1, Jaoro Compound,
Indore - 452 001
Tel: 91-731- 5044787
Fax: 91-5071508
Mobile: 91-9827247791
Mr
Shashank Karangate
Tapasharaya Enterprises
b/h, Babu Naik House
Aquen-Alto,
Margoa - 403601
Goa
Tel: 91-832-750 127
Fax: 91-703 235
South
Tamil Nadu
Mediglobe
Systems
2, Swamy Bathan Street, Ramalingapuram,
Ayanavaram,
Chennai - 600 012
Tel: 91-44- 532 5975/ 644 7875(R)
Pgr: 91-9610 119409
Meditech
Diagnostics
2, Swamy Bathan Street,
Ramalingapuram,
Aynavaram,
Chennai - 600 012
Tel: 91-44 532 5975/ 644 7875 (R)
RK
Surgical Company
40-E, 3rd Floor, Kumaran Building,
100 Feet Road, Gandhipuram,
Coimbatore - 641 012
Tel: 91-422- 440 600, 457070 / 440900 (R)
M: 91-98430 93741
Andhra
Pradesh
Icon
Biosystems
3-6-369/A/20, I Floor, Street No 1,
Himayatnagar,
Hyderabad - 500 029
Tel: 91-40- 650 6474, 7112542/ 7117490(R)
M: 91-9848036384
Sri
Venkateswara Agencies,
47-3-11/1,1st Floor, Dwarka Nagar, 5thLane,
Vishakhapatnam -
Tel: 91-891- 2751248
Pooja
Medical & Surgicals
555 - B, Reddy & Reddy Colony,
Tirupati - 517 501
Tel: 91-8574- 20 684/ 25405(R)
Karnataka
Raghava
Biomedicals,
47/1,# 1762, 6th Main, D Block, Rajaji Nagar II Stage,
Bangalore - 560 010
Tel: 91-80- 23133611
M: 91-9844092826 / 080 31828248
Impact
Laboratory Supplies
3/34, Coconut Garden, Kadri,
Mangalore - 575 002
Tel: 91-824- 21 5320 / 444284
M: 91-9844044284
Nidhi
Agencies
# 40, V.L Layout,(opp) Milk Dairy,
Sidhartha Layout,
Mysore - 570 011
Tel: 91-821- 2449389
Mobile No.: 91-98452 32412
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.15 |
|
UK Pound |
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.57.63 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|