MIRA
INFORM REPORT
|
Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
GODAVARI BIOREFINERIES LIMITED |
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Registered
Office : |
Somaiya Bhavan, 45/47, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.01.1956 |
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Com. Reg. No.: |
11-009707 |
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Capital
Investment/ Paid-up Capital: |
Rs. 376.021 Millions |
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CIN No.: [Company Identification
No.] |
U67120MH1956PLC009707 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG13940D |
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PAN No.: [Permanent Account No.] |
AABCG2543C |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Manufacturer of Bio-Fertilizers |
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No. of
Employees: |
More than 3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7300000 |
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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 an old and well established company having fine track.
General financial position is good. Trade relations are reported as fair. Business
is active. Payments are reported to be correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Ms. Vrushali |
|
Designation : |
Finance Executive |
|
Date : |
23.06.2011 |
LOCATIONS
|
Registered Office/ Marketing Office1 : |
Somaiya Bhavan, 45/47, |
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Tel. No.: |
91-22-22858430/40/50/ 59/ 22048272 |
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Fax No.: |
91-22-22047297 |
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E-Mail : |
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Website : |
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Area: |
Owned |
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Marketing Office 2 : |
Warden House 3rd floor, PM Road, Fort, Mumbai – 400001, |
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Tel. No.: |
91-22-22884635/5631/4294 |
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Research : |
K J Somaiya Institute of Applied Agriculture Research (KIAAR) A/P.
Sameerwadi, district: Bagalkot – 587316, |
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Tel. No.: |
91-8350-260046/47/48 |
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Fax No.: |
91-8350-260037 |
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Factory 1 : |
Sugar (Sameerwad) Godavari Biorefineries Limited A/P. Sameerwadi, Taluka- Mudhol district: Bagalkot – 587316, |
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Tel. No.: |
91-8350-260046/47/48 |
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Fax No.: |
91-8350-260037 |
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|
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Factory 2 : |
Sugar (Songaon) Pratapgad S.S.K Limited Songaon Dsitrict: Satara – 415514, |
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Tel. No.: |
91-2378-235645/46 |
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Fax No.: |
2378-235766 |
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Factory 3: |
Potheyr (Sameerwadi) Godavari Biorefineries Limited A/P. Sameerwadi, District-Bagalkot – 587316, |
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Tel. No.: |
91-8350-260045/47/48 |
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Fax No.: |
91-8350-260037 |
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|
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Factory 4: |
Chemicals (Sameerwadi) Godavari Biorefineries Limited A/P. Sameerwadi, District-Bagalkot – 587316, |
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Tel. No.: |
91-8350-260081/47/48 |
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Fax No.: |
91-8350-260022 |
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Factory 5: |
Chemicals (Sakarwadi) Godavari Biorefineries Limited A/P. Sakarwadi, district – Ahamednagar – 413708, |
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Tel. No.: |
91-2423-279396/97/08 |
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Fax No.: |
91-2423-279339 |
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Branches 1 : |
Bank of |
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Tel. No.: |
91-11-23723351 |
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Branches 2: |
Utility buildings, Totheyr Block, 4th Floor, |
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Tel. No.: |
91-80-2219103 |
DIRECTORS
As ON 28.09.2010
|
Name : |
Mr. Samir Shantilal Somaiya |
|
Designation : |
Chairman and Managing Director |
|
Address : |
‘Padmanbh’, 10, M.L. Dahanukar Marg, Mumbai-400026, |
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Date of Birth/Age : |
28.02.1968 |
|
Date of Appointment : |
22.06.2007 |
|
DIN No.: |
00295458 |
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|
Name : |
Mr. Kailash Pershad |
|
Designation : |
Independent Director |
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Address : |
D 31, 5th Floor, New Chandra CHS, Off Veeradesai Raod,
Andheri (West), Mumbai-400053, |
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Date of Birth/Age : |
01.02.1940 |
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Date of Appointment : |
24.04.2009 |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
00503603 |
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Name : |
Mr. Sivaprakasam Veerasamy Nainar |
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Designation : |
Whole Time Director |
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Address : |
PostL Sameerwadi, District Bagalkot-587316, |
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Date of Birth/Age : |
15.04.1945 |
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Date of Appointment : |
24.02.2009 |
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DIN No.: |
01422739 |
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Name : |
Mr. Badrinarayan Ramulal Barwale |
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Designation : |
Independent Director |
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Address : |
72-B, ‘Urvashi’, Peti Estate, |
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Date of Birth/Age : |
13.08.1931 |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
00001479 |
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Name : |
Mr. Kondapuram Vijaya Raghavan, FNAE |
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Designation : |
Independent Director |
|
Address : |
INAE, Distinguished Professor, Reaction Engineering Laboratory India
Institute of Chemical Technology, |
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Date of Birth/Age : |
01.10.1943 |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
00144054 |
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|
Name : |
Mr. Rooshikumar Vasudev Pandya |
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Designation : |
Independent Director |
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Address : |
6A, Akashganga, 89, |
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Date of Birth/Age : |
27.03.1940 |
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Date of Appointment : |
24.02.2009 |
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DIN No.: |
00256957 |
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|
|
Name : |
Mr. Indubhai Chaturbhai Patel |
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Designation : |
Independent Director |
|
Address : |
P-68, South Extenstion, Part II, New Delhi-110049, |
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Date of Birth/Age : |
24.11.1928 |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
00456456 |
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|
Name : |
Mr. Anil Kumar Jaiswara |
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Designation : |
Nominee Director - IDBI |
|
Address : |
IDBI Bank Limtied, |
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Date of Birth/Age : |
04.04.1965 |
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Date of Appointment : |
17.06.2009 |
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DIN No.: |
02593014 |
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|
|
Name : |
Mr. Paul Steffen Zorner |
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Designation : |
Independent Director |
|
Address: |
1720, |
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Date of Birth/ Age: |
26.05.1954 |
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Date of Appointment : |
24.04.2009 |
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Date of Ceasing: |
09.02.2011 |
|
DIN No.: |
01888805 |
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|
|
Name : |
Mr. Jawahar Lal Chirimar |
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Designation : |
Independent Director |
|
Address : |
44, |
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Date of Birth/Age : |
14.11.1965 |
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Date of Appointment : |
24.04.2009 |
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DIN No.: |
02278560 |
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|
Name : |
Mr. Vinay Venkatesh Joshi |
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Designation : |
Whole Time Director |
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Address : |
C-712, |
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Date of Birth/Age : |
10.03.1954 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
00300227 |
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|
Name : |
Mr. Shantilal Karamshi Somaiya |
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Designation : |
Chairman and Managing Director |
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Address: |
‘Padmanbh’, 10, M.L. Dahanukar Marg, Mumbai-400026, |
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Date of Birth/ Age: |
29.12.1927 |
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Date of Appointment : |
12.01.1956 |
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Date of Ceasing: |
01.01.2010 |
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DIN No.: |
00280325 |
KEY EXECUTIVES
|
Name : |
Ms. Vrushali |
|
Designation : |
Finance Executive |
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|
Name : |
Mr. Shreeram Prasad Gupta |
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Designation : |
Secretary |
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Address: |
602, EMP-65, |
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Date of Birth/ Age: |
15.12.1963 |
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Date of Appointment : |
24.04.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As ON 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
The Godavair Sugar Mills Limited |
|
50000 |
|
Samir S. Somaiya |
|
3667815 |
|
Abhay Singh Bharkatiya |
|
350 |
|
Akhand Warehousing Private Limited |
|
451715 |
|
Akshay Singh Bharkatiya |
|
350 |
|
Ankit Raj Organo Chemicals Limited |
|
112500 |
|
Arpit Limited |
|
73000 |
|
Bhartiben Vasantbai Thakkar |
|
19350 |
|
Chandrika N. Sayta |
|
7740 |
|
Dharmeshi Morarji Popat |
|
1000 |
|
Divyaprabha Chandrasinha Mirani |
|
19350 |
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Dr. S K Somaiya (Harinakshi Somaiya B Trust) |
|
300000 |
|
Dr. S K Somaiy Karta Of S K Somaiya HUF |
|
149950 |
|
Fardun Mulla |
|
500 |
|
Filmedia Communication Systems Private Limited |
|
710000 |
|
Jankiben Buddhidhan Thakkar |
|
19350 |
|
Jasmine Trading Company Private Limited |
|
145000 |
|
Jayesh Haresh Kotak |
|
8990 |
|
K. J Somaiya And Sons Private Limited |
|
361250 |
|
Karnatka Organic Chemicals Private Limited |
|
250000 |
|
Kirit Hansraj Kothari |
|
1000 |
|
Kuntala P Muzumdar |
|
225 |
|
Kuntala P Muzumdar |
|
225 |
|
Lakshmiwadi Mines And Minerals Private Limited |
|
5061100 |
|
Leelaben Madhavji Kotak |
|
19350 |
|
Lilac Construction Private Limited |
|
61250 |
|
Mohan Gopal Kamath |
|
140 |
|
N. K Firodia |
|
1150 |
|
Naval Mulla |
|
500 |
|
Nirupama Kulinbhai Maskai |
|
19350 |
|
Narsang Vahijbhai Padhiyar, Trustee of (Along with other Trustees) Samneerwadi Sugarcane Farmers’ Welfare Trust |
|
2269600 |
|
Pahadi Transport Private Limited |
|
280000 |
|
Partima K Somaiya |
|
19350 |
|
Priti Amit Sheth |
|
1000 |
|
Rajen P Kavdia |
|
7740 |
|
Ramesh J Dalal |
|
1000 |
|
S. V Muzumdar |
|
210 |
|
Sakarwadi Trading Company Private Limited |
|
4743700 |
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Smt. Savitriben Hariram Daiya |
|
19350 |
|
Smt. Mayadevi Shantilal Somaiya |
|
527680 |
|
Somaiya Agencies private limited |
|
8619965 |
|
Somaiya Chemicals Industries Private Limited |
|
20000 |
|
Upendra V Mithani |
|
68750 |
|
Vijai Singh Bharkatiya |
|
350 |
|
Vijay V Mithani |
|
68750 |
|
Yelloowvalley Transport Private Limited |
|
1812155 |
|
Zenith Commercial Agencies Private Limited |
|
630000 |
|
Total |
|
30602100 |
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Names of Perference Shareholders |
|
No. of Shares |
|
Lakshmiwadi mines and minerals private limited |
|
200000 |
|
Sakarwadi trading company private limited |
|
400000 |
|
Shir samir shantilal somaiya |
|
100000 |
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Total |
|
700000 |
Equity Share Breakup (Percentage of Total Equity)
As On 30.09.2010
|
Category |
|
Percentage of Holding |
|
|
|
|
|
Bodies corporate (not mentioned above) |
|
76.41 |
|
Directors or relatives of directors |
|
15.62 |
|
Other top fifty shareholders |
|
7.97 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bio-Fertilizers |
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Products : |
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PRODUCTION STATUS
(AS on 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Sugar |
MT |
NA |
12500 TCD* |
206010 |
|
Potheyr |
MWH |
NA |
24 MWH |
94629 |
|
Rectified Spirit |
HL |
325 KLPD |
325 KLPD** |
181526 |
|
Ethyl Acetate |
MT |
NA |
200 TPD |
47897 |
|
|
|
|
|
|
* Inclusive of lease factory 2500 TCD
** Inclusive of lease factory 35 KLPD upto May
2009 and 200 KLPD at Sameerwadi from January 2010
GENERAL INFORMATION
|
Customers : |
OEM’s and Industries |
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No. of Employees : |
More than 3000 (Approximately) |
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Bankers : |
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Facilities : |
* (Secured by charge over certain fixed assets and current assets of
the company, both present and future. Also certain assets of demerger company
– the
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Banking
Relations : |
- |
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Financial Institute: |
Government of India Ministry of Consumer Affairs Foods and Public
Distribution Department of Food and Public Distribution, Krishi Bhavan, New
Delhi-110001, Delhi, India |
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Auditors : |
|
|
Name : |
Desai Saksena and Associates Chartered Accountant |
|
Address : |
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Holding Company : |
The Godavari Sugar Mills Limited CIN: U74999MH1939PLC002945 |
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Subsidiaries: |
U51900MH1998PTC113856
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Step Down Subsidiaries: |
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Associates: |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42000000 |
Equity Shares |
Rs. 10/- each |
Rs. 420.000 Millions |
|
1800000 |
Preference |
Rs. 100/- each |
Rs. 180.000 Millions |
|
Total |
|
|
Rs. 600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
Equity Shares Capital |
|
|
|
27532500 |
Equity Shares |
Rs. 10/- each |
Rs. 275.325 Millions |
|
3069600 |
Add: Equity Shares (@ Premium of Rs. 190/-) |
Rs. 10/- each |
Rs. 30.696 Millions |
|
|
(Out of above Shares, 27482500 shares were issued pursuant to scheme
of demerger.) |
|
|
|
|
Preference Share
Capital |
|
|
|
1800000 |
12% Preference Shares |
Rs. 100/- each |
Rs. 180.000 Millions |
|
1100000 |
Less: Redeemable of 12% Preference Shares |
Rs. 100/- each |
Rs. 110.000 Millions |
|
|
(Out of above Shares 1800000 shares were issued pursuant to scheme of
demerger) |
|
|
|
|
|
|
|
|
|
Total |
|
Rs. 376.021
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
376.021 |
455.325 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1439.353 |
745.553 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1815.374 |
1200.878 |
0.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4328.404 |
2702.448 |
0.000 |
|
|
2] Unsecured Loans |
2191.241 |
894.738 |
0.000 |
|
|
TOTAL BORROWING |
6519.645 |
3597.186 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
131.776 |
100.863 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8466.795 |
4898.927 |
0.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2956.776 |
2231.107 |
0.000 |
|
|
Capital work-in-progress |
694.025 |
709.558 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
13.702 |
2.590 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4784.834
|
1977.214 |
0.000 |
|
|
Sundry Debtors |
306.507
|
410.381 |
0.000 |
|
|
Cash & Bank Balances |
124.852
|
124.825 |
0.485 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
560.485
|
481.934 |
0.005 |
|
Total
Current Assets |
5776.678
|
2994.354 |
0.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
59.727
|
74.816 |
0.000 |
|
Total
Current Liabilities |
974.386
|
1038.682 |
0.010 |
|
|
Net Current Assets |
4802.292
|
1955.672 |
0.480 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
8466.795 |
4898.927 |
0.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Turnover |
7274.704 |
7814.892 |
0.000 |
|
|
|
Other Income |
10.722 |
9.948 |
0.021 |
|
|
|
TOTAL (A) |
7285.426 |
7824.840 |
0.021 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Cost |
6737.936 |
4662.807 |
0.000 |
|
|
|
Purchase of Goods for Resale |
105.048 |
121.421 |
0.000 |
|
|
|
Manufacturing and Other Expenses |
1598.984 |
1848.167 |
0.006 |
|
|
|
Lease Rent |
42.246 |
44.334 |
0.000 |
|
|
|
Increase/ Decrease in Stock |
[2181.089] |
305.702 |
0.000 |
|
|
|
Exceptional Item |
79.892 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
6383.017 |
6982.431 |
0.006 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
902.409 |
842.409 |
0.015 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
477.424 |
348.936 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
424.985 |
493.473 |
0.015 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
186.580 |
167.317 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
238.405 |
326.156 |
0.015 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
71.513 |
66.300 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
166.892 |
259.856 |
0.010 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
434.500 |
282.171 |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed
Divided |
|
|
|
|
|
|
On Preference Shares |
19.828 |
21.600 |
-- |
|
|
|
On Equity Shares |
28.309 |
27.533 |
-- |
|
|
|
Corporate Dividend Tax |
8.181 |
8.394 |
-- |
|
|
|
General Reserve |
20.000 |
50.000 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
525.074 |
434.500 |
-- |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1121.509 |
1720.395 |
-- |
|
|
TOTAL EARNINGS |
1121.509 |
1720.395 |
-- |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import Value |
1854.443 |
509.230 |
-- |
|
|
TOTAL IMPORTS |
1854.443 |
509.230 |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Before
Exceptional Item |
7.90 |
8.52 |
0.21 |
|
|
|
After
Exceptional Item |
5.08 |
8.52 |
0.21 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
11000.000 |
The above information has been parted by Ms. Vrushali (Finance Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.29
|
3.32 |
47.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.28
|
4.17 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.73
|
6.24 |
3.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.27 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.13
|
3.86 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.93
|
2.88 |
49.00 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS ARE NOT AVAILABLE.
Note:
The Registered Office of the company shifted from Fazalbhoy building,
45/47,
Contingent Liabilities (not provided for):
Claims against the company
not acknowledged as debts:
(Rs. In millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Sales tax |
4.431 |
12.992 |
|
Excise duty/service tax |
25.354 |
89.029 |
|
Bank Guarantee |
22.309 |
10.125 |
|
Export obligation |
84.800 |
Nil |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U67120MH1956PLC009707 |
|
Name of the
company |
GODAVARI BIOREFINERIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Somaiya Bhavan, 45/47, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10210838 |
|
Type of charge |
Immovable Property Movable Property Others |
|
Particular of
charge holder |
Union Bank of |
|
Nature of
instrument creating charge |
Joint Deed of Mortgage
dated 03.02.2011 |
|
Date of
instrument Creating the charge |
03.02.2011 |
|
Amount secured by
the charge |
Rs. 160.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Letter Terms of
Repayment As per Sanction
Letter Margin As per Sanction
Terms Extent and
Operation of the charge First pari passu
charge on immovable properties of Sameerwadi, Karnataka and First Subservient
charge on immovable properties of Sakarwadi, |
|
Short particulars
of the property charged |
|
|
Particulars of
the present modification |
First pari passu
charge on immovable properties of Sameerwadi, Karnataka as per Third Schedule
and First subservient charge on immovable properties of Sakarwadi, |
Fixed Assets
- Land
- Building
- Plant and Machinery
- Office Equipments
- Motor vehicles
- Patent
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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 theyre 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
bettheyen 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.44.82 |
|
|
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of theyighted scores obtained from each of the major sections of this report.
The assessed factors and their relative theyights (as indicated through %) are
as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.