|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED |
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Registered
Office : |
Pirojsha nagar,
Vikhroli, Mumbai – 400 079, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.03.1932 |
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Com. Reg. No.: |
11-001828 |
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Capital
Investment / Paid-up Capital : |
Rs.66.291 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28993MH1932PLC001828 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG06742B MUMG05774G |
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PAN No.: [Permanent Account No.] |
AAACG1395D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Marketing of Consumer Durables, Office Equipments and Industrial Products. |
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No. of Employees
: |
10000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
USD 59000000 |
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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 a reputed Godrej group company having fine track. It is reported that Mr. J N Godrej, chairman of the board of directors and the managing directors of the company was conferred the “Padma Bhushan” award in recognition of his distinguished service of high order to the nation in the field of trade and economic activity. Financial position of the company appears to be sound. Trade relations are reported as fair. Directors are reported to be experienced and respectable businessmen. Payments are regular 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Chandran |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9545553955 |
|
Date : |
12.05.2012 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Pirojsha Nagar, Vikhroli, Mumbai - 400 079, |
|
Tel. No.: |
91-22-67961300/ 67965106/ 67965656-5959 |
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Mobile No.; |
91-9545553955 (Mr. V.V.V. Shivdas) |
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Fax No.: |
91-22-67961518/ 67961509 |
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E-Mail : |
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Website : |
www.new.godrej.com |
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Factory 2 : |
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Branch Office : |
Located at: · Mumbai · Ahmedabad ·
·
· Bhubaneshwar · Kolkata ·
·
·
·
·
· Guwahati ·
·
·
· Jaipur ·
·
·
· Chennai ·
·
· Pune ·
·
·
·
|
DIRECTORS
AS ON 12.09.2011
|
Name : |
Mr. Jamshyd N. Godrej |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
24.01.1949 |
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Address : |
40-D, B.G. Khar Marg, Mumbai - 400 006, |
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Date of Appointment : |
07.10.1974 |
|
DIN No.: |
00076250 |
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Name : |
Mr. Kavas N. Petigara |
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Designation : |
Director |
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Date of Birth/Age : |
10.07.1948 |
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Address : |
801, Citadel, 18-B, Ruparel Marg, Maharashtra, Mumbai –
400 006, |
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Date of Appointment : |
29.09.1988 |
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DIN No.: |
00066162 |
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|
|
|
Name : |
Mr. Adi Burjor Godrej |
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Designation : |
Director |
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Date of Birth/Age : |
03.04.1942 |
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Address : |
Godrej House, 67H, |
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Date of Appointment : |
30.04.1973 |
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DIN No.: |
00065964 |
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|
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|
Name : |
Mr. Nadir B. Godrej |
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Designation : |
Director |
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Address : |
40-D, B.G. Kher Marg, Malabar Hill, Mumbai – 400 006, |
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Date of Birth/Age : |
26.08.1951 |
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Date of Appointment : |
27.09.1990 |
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DIN No.: |
00066195 |
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Name : |
Mr. Vijay M. Crishna |
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Designation : |
Director |
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Address : |
A-261, Grand parade Apts. Off August Kranti Marg, Mumbai –
400026, |
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Date of Birth/Age : |
08.03.1945 |
|
Date of Appointment : |
27.09.1990 |
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DIN No.: |
00066267 |
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Name : |
Mr. Fali P. Sarkari |
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Designation : |
Director |
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Address : |
Sethna Bhabha Bldg., 3rd Floor, |
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Date of Birth/Age : |
29.02.1932 |
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Date of Appointment : |
13.01.1998 |
|
DIN No.: |
00066085 |
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|
|
|
Name : |
Mr. Navroze Jamshyd Godrej |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
10.06.1982 |
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Address : |
40-D, B.G. Khar Marg, Malabar Hill, Mumbai – 400 006, |
|
Date of Appointment : |
01.05.2010 |
|
DIN No.: |
03049821 |
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|
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|
Name : |
Mr. Phiroze D. Lam |
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Designation : |
Executive Director and President |
|
Address : |
21/23 |
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Date of Birth/Age : |
06.03.1945 |
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Date of Appointment : |
01.10.2003 |
|
DIN No.: |
00066218 |
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|
|
|
Name : |
Mr. Kyamas A. Palia |
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Designation : |
Executive Director (Finance) |
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Address : |
7C, |
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Date of Birth/Age :
|
22.11.1945 |
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Date of Appointment : |
01.10.2003 |
|
DIN No.: |
00281971 |
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|
|
|
Name : |
Mr. Pradeep P. Shah |
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Designation : |
Director |
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Address : |
72-A, Embassy Apartments, |
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Date of Birth/Age :
|
07.01.1953 |
|
Date of Appointment : |
10.08.2004 |
|
DIN No.: |
00066242 |
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|
|
Name : |
Mrs. Anita Ramchandran |
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Designation : |
Additional Director |
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Address : |
13 Navroze Apartments, |
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Date of Birth/Age :
|
28.04.1955 |
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Date of Appointment : |
28.04.2007 |
|
DIN No.: |
00118188 |
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|
|
|
Name : |
Mr. Anil Kumar Verma |
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Designation : |
Whole time Director |
|
Address : |
902-B, Fantasia, Raheja garden, |
|
Date of Birth/Age :
|
22.06.1957 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02366334 |
KEY EXECUTIVES
|
Name : |
Mr. Chandran |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Adi Barjorji Godrej |
|
32240 |
|
Parmeshwar Adi Godrej jointholder with Adi Barjorji Godrej |
|
4506 |
|
Tanya Arvind Dubash jointholder with Adi Barjorji Godrej |
|
9609 |
|
Nisaba Adi Godrej jointholder with Adi Barjorji Godrej |
|
9609 |
|
Pirojsha Adi Godrej jointholder with Adi Barjorji Godrej |
|
2976 |
|
Nadir Barjorji Godrej |
|
65540 |
|
Rishad Kaikhushru Naoroji jointholder with Adi Barjorji Godrej |
|
16385 |
|
Rishad Kaikhushru Naoroji jointholder with Jamshyd Naoraji Godrej |
|
16385 |
|
Rishad Kaikhushru Naoroji jointholder with Nadir Barjorji
Godrej |
|
16385 |
|
Rishad Kaikhushru Naoroji jointholder with Smita Vijay Crishna |
|
16385 |
|
Aspi Framroze Golawala |
|
157500 |
AS ON 12.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
26.77 |
|
Directors
or relatives of directors |
|
49.47 |
|
Other
top fifty shareholders |
|
23.76 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Consumer Durables, Office Equipments and Industrial Products. |
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Products : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
PARTICULARS |
Unit |
Installed Capacity |
Actual production |
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|
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|
Steel Furniture |
Tonnes |
60000 |
49476 |
|
Security Equipment |
Tonnes |
21000 |
14353 |
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Typewriters |
Nos. |
40000 |
-- |
|
Locks |
Nos. |
4740000 |
1199377 |
|
Home Appliances |
Nos. |
2100000 |
1396395 |
|
Furniture and Fixtures [primarily of metal] |
Nos. |
1050000 |
248719 |
|
Press Tools, Jigs, Fixtures, Gauges, Dies, Cutting Tools, etc. |
Rs. ‘000 |
1000000 |
1508920 |
|
Process Plant and Equipment |
Rs. ‘000 |
4000000 |
3579752 |
|
Forklift Trucks |
Nos. |
2400 |
2234 |
|
Electric Motors |
Nos. |
1520000 |
73950 |
|
Ready Mix Concrete |
M3 |
334500 |
219412 |
NOTES:
1. Installed
Capacity is as certified by the Management and accepted by the Auditors.
2. Unless
otherwise stated, actual production is inclusive of quantities used internally.
3. For Electric Motors
(item 10 above), Actual Production does not include production of motor
parts/components and production on job work basis.
4. The production
of Typewriters has been discontinued since October 2009.
5. The production
of Furniture and Fixtures (primarily of metal) in a new industrial undertaking
set up by the Company, commenced from 17th November 2009.
6. Figures in brackets pertain to the previous year.
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
10000 (Approximately) |
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Bankers : |
·
Central Bank of ·
Union Bank of ·
Citibank N.A., 293, ·
BNP Paribas, Mumbai – 400 001, · Standard Chartered Bank · Grindlays Bank Limited ·
State Bank of ·
Axis Bank Limited, Mumbai – 400 001, ·
The Hong Kong and Shanghai Banking Corporation
Limited, Mumbai – 400 001, ·
ICICI Bank Limited, Mumbai – 400 021, · Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe parade, Mumbai – 400 005, Maharashtra, India |
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Facilities : |
NOTES:. ·
Loans guaranteed by a directors Rs.0.232 million
(as at 31.03.2010 Rs.0.282 million) were due for repayment, but were not claimed
by the depositors on due dates. ·
Maximum amount raised at any time during the year
by way of issue of commercial paper (unsecured Negotiable Usance Promissory
Notes) Rs.1500.000 millions by earmarking of designated working capital facilities
from banks. No commercial paper was outstanding at the year end. |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Kalyaniwala and Mistry Chartered Accountants |
|
Address : |
|
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|
Joint Venture: |
Godrej Efacec Automation and Robotics Limited |
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|
|
|
Associates: |
·
Godrej and Khimji (Middle East) LLC (Incorporated
in ·
LVD Godrej ·
ABG Venture LLP ·
NBG ·
SVC Enterprise LLP |
|
|
|
|
Subsidiaries : |
· Godrej Industries Limited Address:
Pirojshanagar, Eastern Tel No.: 91-22-25188010/ 25188020/ 25188030 Fax No.: 91-22-25188074 CIN : L24241MH1988PLC097781 · Godrej Infotech Limited CIN : U32100MH1997PLC106135 · Wadala Commodities Limited CIN : L15142MP1984PLC002382 ·
Godrej Malaysia Sdn. Bhd, (Incorporated in ·
Godrej ·
|
|
|
|
|
Enterprises over which the company’s chairman and
managing directors, Mr. J.N. Godrej, is able to exercise significant
influence: |
· Geometric Limited · Godrej and Boyce Enterprises LLP ·
JNG ·
RKN |
|
|
|
|
Step-Subsidiaries (Where the company’s subsidiaries
listed in a above, hold more than 50% of equity share capital): |
G and B Enterprises ( |
|
|
|
|
Subsidiaries of |
·
Veromatic Services BV (incorporated in the ·
Water |
|
|
|
|
Subsidiaries and Sub-subsidiaries of Godrej Industries Limited
(GIL): |
· Natures Basket Limited · Ensemble Holdings and Finance Limited ·
Godrej International Limited (Incorporated in
the · Godrej Agrovet Limited (GAVL) · Godrej Properties Limited (GPL) |
|
|
|
|
Subsidiaries of GAVL: |
· Golden Feed Products Limited · Godrej Oil Palm Limited · Cauvery Palm Oil Limited · Godrej Gokarna Oil Palm Limited [Formerly Godrej IJM Palm Oil Limited] [A Subsidiary w.e.f 24th November, 2010] |
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|
|
|
Subsidiaries of GPL: |
· Godrej Realty Private Limited · Godrej Waterside Properties Private Limited · Godrej Developers Private Limited · Godrej Real Estate Private Limited · Godrej Sea View Properties Private Limited · Godrej Estate Developers Private Limited · Happy Highrises Limited · Godrej Buildwell Private Limited (A Subsidiary w.e.f. 14th January, 2011) · Godrej Projects Developments Private Limited (A Subsidiary w.e.f 22nd November, 2010) · Godrej Buildcon Private Limited (A Subsidiary w.e.f. 21st September, 2010) · Godrej Premium Builders Private Limited (A Subsidiary w.e.f. 18th February, 2011) · Godrej Garden City Properties Private Limited (A Subsidiary w.e.f 18th February, 2011) · Udhay GK Realty Private Limited (A Subsidiary w.e.f. 7th March, 2011) Note: During the year, Godrej Gold Coin Aquafeed Limited, which became a subsidiary of Godrej Agrovet Limited, w.e.f. 21st October, 2010, has merged with Godrej Agrovet Limited w.e.f. 5th January, 2011, and hence has ceased to be its subsidiary. During the financial year commencing from 1st April, 2011, Godrej Seeds and Genetics Limited has become a subsidiary of Godrej Agrovet Limited, w.e.f. 6th June, 2011. |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.100/- each |
Rs.110.000 Millions |
|
900000 |
Cumulative Redeemable Preference Shares |
Rs 100/- each |
Rs.90.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.200.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
662910 |
Equity Shares |
Rs.100/- each |
Rs.66.291 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
66.291 |
66.291 |
66.291 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14776.334 |
11735.435 |
9031.134 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14842.625 |
11801.726 |
9097.425 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7642.081 |
2496.000 |
4370.726 |
|
|
2] Unsecured Loans |
2219.982 |
2227.940 |
1733.653 |
|
|
TOTAL BORROWING |
9862.063 |
4723.940 |
6104.379 |
|
|
DEFERRED TAX LIABILITIES |
432.581 |
517.981 |
585.581 |
|
|
|
|
|
|
|
|
TOTAL |
25137.269 |
17043.647 |
15787.385 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8480.693 |
5542.948 |
5571.876 |
|
|
Capital work-in-progress |
1476.679 |
2470.410 |
952.547 |
|
|
|
|
|
|
|
|
INVESTMENT |
4713.078 |
4575.577 |
3089.199 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12258.944
|
9059.687 |
8256.278 |
|
|
Sundry Debtors |
12894.622
|
8384.506 |
7603.463 |
|
|
Cash & Bank Balances |
60.040
|
490.603 |
33.234 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3437.888
|
2108.648 |
3298.425 |
|
Total
Current Assets |
28651.494
|
20043.444
|
19191.400
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10248.265
|
8137.674 |
5787.031 |
|
|
Other Current Liabilities |
6571.003
|
6206.843 |
6334.248 |
|
|
Provisions |
1365.407
|
1244.215 |
896.358 |
|
Total
Current Liabilities |
18184.675
|
15588.732
|
13017.637
|
|
|
Net Current Assets |
10466.819
|
4454.712
|
6173.763
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25137.269 |
17043.647 |
15787.385 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
54911.148 |
43621.790 |
40351.778 |
|
|
|
Other Income |
1271.833 |
1057.627 |
1123.661 |
|
|
|
Compensation received on surrender of tenancy rights |
10.000 |
0.000 |
0.000 |
|
|
|
Profit on sale of investment (net) |
4.758 |
62.711 |
440.713 |
|
|
|
Profit on sale/ transfer/ disposal of fixed assets (net) |
11.136 |
3.686 |
(2.982) |
|
|
|
TOTAL (A) |
56208.875 |
44745.814 |
41913.170 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed and goods purchased |
36634.935 |
26642.812 |
25150.222 |
|
|
|
Employee remuneration and benefits |
6306.491 |
5705.024 |
4638.199 |
|
|
|
Voluntary retirement compensation |
2.116 |
51.607 |
9.547 |
|
|
|
Other expenses |
9877.176 |
7935.968 |
7856.605 |
|
|
|
Property development and construction expenses |
196.503 |
286.729 |
259.641 |
|
|
|
Increase/ Decrease in stocks of finished goods and work in progress |
(2523.971) |
(1110.306) |
20.930 |
|
|
|
Expenditure transferred to capital account |
(413.270) |
(505.085) |
(322.589) |
|
|
|
TOTAL (B) |
50079.980 |
39006.749 |
37612.555 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6128.895 |
5739.065 |
4300.615 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
626.515 |
525.657 |
840.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5502.380 |
5213.408 |
3459.671 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
581.902 |
536.602 |
501.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4920.478 |
4676.806 |
2958.602 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
930.725 |
1314.267 |
544.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3989.753 |
3362.539 |
2414.381 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7557.312 |
5193.010 |
3448.203 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
473.263 |
340.000 |
244.000 |
|
|
|
Proposed Dividend |
795.492 |
596.619 |
397.746 |
|
|
|
Tax on Dividend |
80.099 |
61.618 |
27.828 |
|
|
BALANCE CARRIED
TO THE B/S |
10198.211 |
7557.312 |
5193.010 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
4257.555 |
3741.509 |
4846.242 |
|
|
|
Dividend |
2.637 |
2.198 |
2.036 |
|
|
|
Royalty |
0.000 |
3.356 |
4.055 |
|
|
|
Others |
203.325 |
78.780 |
116.722 |
|
|
TOTAL EARNINGS |
4463.517 |
3825.843 |
4969.055 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3019.755 |
2416.418 |
3441.002 |
|
|
|
Stores & Spares |
70.824 |
40.086 |
99.513 |
|
|
|
Capital Goods |
943.267 |
218.876 |
300.494 |
|
|
|
Others |
4814.465 |
2858.659 |
3048.466 |
|
|
TOTAL IMPORTS |
8848.311 |
5534.039 |
6889.475 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6019.00 |
5072.00 |
3642.00 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover |
|
|
58000.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.61000.000 Millions
The above information has been parted by Mr. Chandran – Finance Manager
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.10
|
7.51 |
5.76
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.96
|
10.72 |
7.33
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.25
|
18.27 |
10.27
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.40 |
0.33
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.89
|
1.72 |
2.10
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.29 |
1.47
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
31.03.2011
|
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
424.021
|
257.795 |
89.373 |
|
Creditors due others |
9824.244
|
7879.879 |
5697.658 |
|
TOTAL |
10248.265
|
8137.674 |
5787.031 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
History:
The company was incorporated on 3rd March, 1932
at Mumbai in
The Company celebrated its centenary in 1997. In 1897 a young man named Ardeshir Godrej gave up law and turned to lock-making. Ardeshir went on to make safes and security equipment of the highest order, and then stunned the world by creating toilet soap from vegetable oil. His brother Pirojsha Godrej carried Ardeshir's dream forward, leading Godrej towards becoming a vibrant, multi-business enterprise. Pirojsha laid the foundation for the sprawling industrial garden township (ISO 14001- certified) now called Pirojshanagar in the suburbs of Mumbai. Godrej touches the lives of millions of Indians every day. To them, it is a symbol of enduring ideals in a changing world.
In company, on the other hand, the Construction Department made it a point from the very beginning to adapt practices which prevent pollution, and that is why Vikhroli, unlike the city which it adjoins, remains clean and green. The Construction Department had to conserve water and other resources, use raw material having less adverse environmental impacts, conserve and enhance green cover, and continue to create environmental awareness among their employees, sub-contractors, vendors and the community around, in pursuance of the environmental Policy laid down by the management: ' They at Godrej are committed to profitable growth in the business through sustainable development and continual improvement in the environmental performance.'
The further steps of the company took towards control of pollution make their synonymous with clean and sound environmental practices. The late Nozer A. Lentin, who has a member Secretary (Retired.) to Maharashtra Pollution Control Board, was appointed in 1980 to conduct a survey of legal and technical problems likely to be faced regarding treatment and disposal of effluents. In 1982, a Manager (Environment and Pollution Control) was appointed to attend to the day-to-day work related to environment and pollution control. Data of effluents from the industrial plants was an alysed and a feasibility report was prepared. Later, in 1983, an Effluent Treatment Plant (ETP) was established with Associated Industrial Consultants. An ETP with a capacity of 1,200 cubic metres was commissioned in 1986. In 1987, electroplating effluents were segregated and treated separately in a plant having the capacity of 200 cubic metres per day.
The first Tertiary Sewage Treatment and Recycling Plant was commissioned 1989 and second as recently as in 1996. At present, 100 cubic metres per day as sewage waste are being treated for re-use in industrial plants and gardens. In 1995 AIC Watson were appointed to carry out a detailed study of all aspects of solid waste management in the Godrej industrial premises. Suggestions in a comprehensive report submitted in January 1997 are in the process of being implemented. Paint waste, which has been a major source of hazardous wastes, was sent for test incineration to M/s. Bayers Limited. A procedure has been put in place to incinerate the paint sludge and to dispose of the ash generated. A secured landfill for hazardous wastes has been constructed.
Finally, in 1995 the management decided to appraise all the Divisional Heads and Managers about the Environmental Management System and Environment Audit. Mr. K.P. Nyati, Head of the Environment Management Division, Confederation of Indian Industry, was invented to give a presentation to them. Further follow-up was done to initiate action on the Environment Management System and adoption of ISO-14001 standards throughout the Company.
Naval emphasized upon quality for the department, by which each of the structures would provide satisfactory services for about 100 years. He made it clearly known that an initial fault in the concept of design or workmanship would involve heavy costs at a later date, which had to be avoided. In this way, by having in-house facilities and capabilities, the Construction Department not only achieved economy, but also quality and reliably, unlike the construction industry in the country, which is becoming a matter of grave concern. Naval had envisaged from the beginning that the Construction Department would not only undertake new projects for construction at Vikhroli, but would also be responsible for its maintenance.
Baria's appointment in 1948 was followed by H.N. Engineer's in 1949. The foundation work of Plant-I was then in progress and work on the construction of plant-II had also started. Engineer became the departmental head in 1996 and continued in that capacity till 1971. He was ably assisted by Edul Postwalla. Engineer was followed by Bomi Sethna, who with his twenty years' experience, having joined Godrej in 1951, took over as departmental head in 1971 and continued till 1986. It was then Engineer's son Maneck's turn to take over, and deservedly too, for he had been in the service of the Company for twenty-two years since 1964 and continues to head the Department in the capacity of Vice-President to this day.
Progress in construction was slow, but steady. Naval's habit of adopting a system for everything he did and expecting his workers to follow, was very much in evidence in the construction of manufacturing plants, housing and the Udayachal schools. After the construction of plant-I and II, construction of other plants was taken up every second year. By the year 1990, when Naval passed away, eighteen factory sheds had been constructed and the last, the nineteenth, was completed in 1992.
As regards housing for workers, Naval would sit with the architects and insist
on cross-ventilation.
The experience thus gained would prove to be most useful
when designing Godrej Baug years later. The first housing project was taken in
hand in 1951. This project known as Betthi Chawl initiated a brisk Programme of
housing for workers; there was a break in the speed of construction between
1975 and 1985, when the
CONTINGENT
LIABILITIES NOT PROVIDED FOR: [AS ON 31.03.2011]
(a) Guarantees
given by the Company’s Bankers against counter-guarantees given by the Company
Rs. 7216.375 Millions.
(b) Guarantees
given by the Company’s Bankers on behalf of subsidiary/associate companies
against counter guarantees given by the Company: Rs. 55.937 Millions.
(c) Guarantees
given by Export-Import Bank of
(d) Excise
Duty/Service Tax/Sales Tax demands in dispute and pending at various stages of
appeal: Rs. 556.020 Millions.
(e) The State of
(f) Claims against
the Company under the Industrial Disputes Act, 1947 - amount indeterminate.
(g) Disputed
Provident Fund liability for the period March 1996 to September 1997 arising on
account of disapproval of infancy benefit: Rs. 5.300 Millions. The Supreme
Court of India has allowed the company’s appeal and set aside the judgment of
the High Court of Punjab and Haryana. The matter has been remanded to the
regional provident fund commissioner for a fresh decision in accordance with
law after hearing the parties concerned expeditiously.
(h) Other Claims
against the Company not acknowledged as debt: Rs. 123.800 Millions.
NOTE:
Future cash
outflows in respect of items (d) to (h) above are determinable only on receipt
of judgements/decisions pending with various forums/authorities.
FUTURE PLANS:
1.
Development of motorized lifting of mattress
panel in bed to access storage area.
2.
Use of PU-based spray edging for tables in
education furniture.
3.
Incorporation of electronic vibration user alert in
Flair chair to optimize ergonomics.
4.
Development of bio-safety cabinets.
5.
Design and development of brushless DC motors for
hermetic compressors.
6.
Development of controlled induction motor
applications.
7.
Development of new models of mechanical and
electronic locks.
8.
Transition to emission compliant BS-Ill engines on diesel
trucks with support from engine
manufacturers.
9.
Development of new three-wheeler range and reach
warehouse trucks.
10.
Transition to new energy-efficient AC motors on all electric trucks.
11.
Development of juice and soup machines, jointly
with
12.
Development of seismic-resistant racks.
13.
Research into using racks as a self supported
building, and rack-clad buildings.
14.
Development of standardized dies for crank cases
and ETB body.
Fixed Assets:
·
·
· Freehold Buildings
· Leasehold Buildings
· Staff and Workmen Quarters
· Machinery
· Vehicles
· Furniture and Fixtures
· Other Equipments
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 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.53.71 |
|
|
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
Yes |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
67 |
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 weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (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.