MIRA
INFORM REPORT
|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED |
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Registered
Office : |
Pirojsha nagar,
Vikhroli, Mumbai – 400079, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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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 |
|
|
|
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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) |
|
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 |
|
Maximum Credit Limit : |
USD 92000000 |
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|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well established and a reputed Godrej group company having fine track record. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety. It carry very low credit risk. |
|
Date |
16.10.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety. It carry very low credit risk. |
|
Date |
16.10.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Ashvini |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67961300 |
|
Date : |
10.04.2013 |
LOCATIONS
|
Registered Office/ Head Office/ Factory 1 : |
Pirojsha Nagar, Vikhroli, Mumbai - 400079, Maharashtra, India |
|
Tel. No.: |
91-22-67961300/ 67965106/ 67965656/ 67965959 |
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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 : |
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Location : |
Owned |
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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 27.09.2012
|
Name : |
Mr. Jamshyd Naoroji Godrej
|
|
Designation : |
Chairman and Managing Director |
|
Address : |
40-D, B.G. Kher Marg, Malabar Hill, Mumbai - 400 006, Maharashtra,
India |
|
Date of Birth : |
24.01.1949 |
|
Qualification : |
B.S., (Mech.Engg.) (Illinois Institute of Technlogy, Chicago) |
|
Date of Appointment : |
01.04.2011 |
|
Voter ID No.: |
MT/04/024/099982 |
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DIN No.: |
00076250 |
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|
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Name : |
Mr. Ardeshir Burjorji Godrej |
|
Designation : |
Director |
|
Address : |
Godrej House, 67H, Walkeshwar Road, Opposite Birla Public School,
Mumbai – 400 006, Maharashtra, India |
|
Date of Birth : |
03.04.1942 |
|
Qualification : |
B.S., M.S. (Engg. and Indl. Mgmt.) (MIT, USA) |
|
Date of Appointment : |
30.04.1973 |
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Voter ID No.: |
MT/04/024/273279 |
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DIN No.: |
00065964 |
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|
|
|
Name : |
Mr. Nadir Burjorji Godrej |
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Designation : |
Director |
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Address : |
40-D, B.G. Kher Marg, Malabar Hill, Mumbai – 400 006, Maharashtra,
India |
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Date of Birth : |
26.08.1951 |
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Qualification : |
B.S. (Chem.Engg) (MIT, USA); M.S. (Chem.Engg.) (Stanford, USA) M.B.A. (Harvard, USA) |
|
Date of Appointment : |
27.09.1990 |
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Voter ID No.: |
MT/04/024/099721 |
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DIN No.: |
00066195 |
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Name : |
Mr. Vijay Mohan Crishna |
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Designation : |
Whole-time director |
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Address : |
A-261, Grand parade Apts. Off August Kranti Marg, Mumbai – 400026,
Maharashtra, India. |
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Date of Birth : |
08.03.1945 |
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Qualification : |
B.A. (Economics) (Hons.) |
|
Date of Appointment : |
01.04.2011 |
|
Voter ID No.: |
MT/04/024/009615 |
|
DIN No.: |
00066267 |
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|
|
|
Name : |
Mr. Kavas Noshirwan Petigara |
|
Designation : |
Director |
|
Address : |
801, Citadel, 18-B, Ruparel Marg, Maharashtra, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth : |
10.07.1948 |
|
Qualification : |
B.S, S.M. (Ch.E.) (MIT, USA) |
|
Date of Appointment : |
29.09.1988 |
|
Voter ID No.: |
MT/04/024/108029 |
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DIN No.: |
00066162 |
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Name : |
Mr. Phiroze Dinshaw Lam
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Designation : |
Whole-time director |
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Address : |
21/23 Mistry Park, 77 B Desai Road, Mumbai – 400 036, Maharashtra,
India |
|
Date of Birth : |
06.03.1945 |
|
Qualification : |
B.A., LLB, Solicitor |
|
Date of Appointment : |
01.04.2011 |
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Voter ID No.: |
MT/04/024/240827 |
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DIN No.: |
00066218 |
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Name : |
Mr. Kyamas Ardeshir Palia |
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Designation : |
Whole-time director |
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Address : |
7C, Wadia Street, Tardeo, Mumbai – 400 034, Maharashtra, India |
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Date of Birth : |
22.11.1945 |
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Qualification : |
M.Com., D.M.A., FCA, FICWA, Ph.D. (USA) |
|
Date of Appointment : |
01.04.2011 |
|
Voter ID No.: |
MT/04/024/465963 |
|
DIN No.: |
00281971 |
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Name : |
Mr. Pradip Panalal Shah |
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Designation : |
Director |
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Address : |
72-A, Embassy Apartments, 46 Napean Sea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth : |
07.01.1953 |
|
Qualification : |
B.Com., C.A., ICWA, M.B.A. (Harvard, USA) |
|
Date of Appointment : |
10.08.2004 |
|
Voter ID No.: |
JRW 1344530 |
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DIN No.: |
00066242 |
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|
Name : |
Mrs. Anita Ramchandran |
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Designation : |
Director |
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Address : |
2401-2402, ‘A’ Wing, Raheja Atlantis, Ganpatrao Kada, M Marg, Worli
Naka, Mumbai-400018, Maharashtra, India |
|
Date of Birth : |
28.04.1955 |
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Qualification : |
B.Com., M.B.A. |
|
Date of Appointment : |
10.09.2007 |
|
DIN No.: |
00118188 |
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|
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|
Name : |
Mr. Anil Kumar Verma |
|
Designation : |
Whole time Director |
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Address : |
902-B, Fantasia, Raheja garden, LBS Road, Thane – 400 604,
Maharashtra, India |
|
Date of Birth : |
22.06.1957 |
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Qualification : |
B.Tech (Elec.) PGDBM (IIM, Ahmedabad) |
|
Date of Appointment : |
01.04.2011 |
|
Voter ID No.: |
ZMH3498706 |
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DIN No.: |
02366334 |
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|
Name : |
Mr. Navroze Jamshyd Godrej |
|
Designation : |
Director |
|
Address : |
40-D, B.G. Khar Marg, Malabar Hill, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth : |
10.06.1982 |
|
Qualification : |
B.A. (Mass Comm. and French) |
|
Date of Appointment : |
23.08.2010 |
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DIN No.: |
03049821 |
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|
Name : |
Mr. Keki Manchersha Elavia |
|
Designation : |
Additional director |
|
Address : |
2A, Anand Bhavan, 36th Road, Bandra West, Mumbai-400050,
Maharashtra, India |
|
Date of Birth : |
09.04.1946 |
|
Date of Appointment : |
01.05.2012 |
|
Voter ID No.: |
MT/08/036/0322815 |
|
DIN No.: |
00003940 |
KEY EXECUTIVES
|
Name : |
Percy Erach Fouzdar |
|
Designation : |
Secretary |
|
Address : |
B-13, Godrej Baug, Off Napeansea Road, Mumbai-400026, Maharashtra,
India |
|
Date of Birth/Age : |
17.06.1956 |
|
Date of Appointment : |
22.11.1994 |
|
PAN No.: |
AAAPF2250R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
Note: Major Shareholders File Attached
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
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 : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
PARTICULARS |
Unit |
Installed Capacity |
Actual production |
|
|
|
|
|
|
Steel Furniture |
Tonnes |
60000 |
49476 |
|
Security Equipment |
Tonnes |
21000 |
14353 |
|
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 : |
·
Housing Development Finance Corporation Limited,
Ramon House, 169,Backbay Reclamation, H T Parekh Marg, Mumbai - 400020,
Maharashtra, India ·
Export-Import Bank of India, Centre One
Building, Floor 21, World Trade Centre Complex, Cuffe parade, Mumbai – 400 005,
Maharashtra, India Tel No.: 91-22-22181826 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kalyaniwala and Mistry Chartered Accountants |
|
Address : |
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|
Address : |
AAAFK7554R |
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|
Direct
Subsidiaries (with the Company’s direct equity holdings in excess of 50%) :: |
·
Godrej Industries Limited ·
Wadala Commodities Limited ·
Godrej Infotech Limited ·
Godrej (Malaysia) Sdn. Bhd. (incorporated in
Malaysia) ·
Godrej (Singapore) Pte. Limited (incorporated in
Singapore) ·
Veromatic International BV (incorporated in the
Netherlands) |
|
|
|
|
Step-down subsidiaries
(where the Company’s subsidiaries listed in A above, hold more than 50% of
the equity share capital): |
Subsidiary of
Godrej (Malaysia) Sdn. Bhd.: GandB Enterprises (Mauritius) Private Limited (incorporated in
Mauritius) Subsidiary and
sub-subsidiary of Godrej (Singapore) Pte. Limited (GSPL): Subsidiary of
GSPL: ·
J. T. Dragon Pte. Limited (JTDPL) (incorporated
in Singapore) Subsidiary of
JTDPL ·
Godrej (Vietnam) Co. Limited (incorporated in
Vietnam) Subsidiaries of
Veromatic International BV: ·
Veromatic Services BV (incorporated in the
Netherlands) ·
Water Wonder Benelux BV (incorporated in the
Netherlands) Subsidiaries and
Sub-subsidiaries of Godrej Industries Limited (GIL) : Subsidiaries of
GIL : ·
Natures Basket Limited ·
Ensemble Holdings and Finance Limited (Godrej International Limited
(incorporated in the Isle of Man) ·
Godrej Agrovet Limited (GAVL) ·
Godrej Properties Limited (GPL) ·
Godrej International Trading and Investments Pte.
Limited (incorporated in Singapore) (a subsidiary of GIL w.e.f. 1st August,
2011) Subsidiaries of
GAVL : ·
Golden Feed Products Limited ·
(Godrej Seeds and Genetics Limited (a subsidiary
w.e.f 6th June, 2011) Subsidiaries of
GPL : ·
Godrej Realty Private Limited ·
Godrej Waterside Properties Private Limited ·
Godrej Developers Private Limited ·
GodrejReal Estate Private Limited ·
Godrej Sea View Properties Private Limited ·
Godrej Estate Developers Private Limited ·
Happy Highrises Limited ·
Godrej Buildwell Private Limited ·
Godrej Buildcon Private Limited ·
Godrej Projects Development Private Limited
(GPDPL) ·
Godrej Landmark Redevelopers Private Limited (a
subsidiary of GPDPL w.e.f. 14th March, 2012) ·
Godrej Premium Builders Private Limited ·
Godrej Garden City Properties Private Limited ·
Godrej Nandhi Hills Project Private Limited
(formerly, Udhay GK Realty Private Limited) With effect from
1st April, 2011, Godrej Oil Palm Limited, Cauvery Palm Oil Limited and Godrej
Gokarna Oil Palm Limited merged with Godrej Agrovet Limited |
|
|
|
|
Joint Venture
Company: |
Godrej Efacec Automation and Robotics Limited |
|
|
|
|
Other
Associates: |
·
Godrej and Khimji (Middle East) LLC (incorporated
in Oman) ·
LVD Godrej Infotech NV (incorporated in Belgium) ·
ABG Venture LLP ·
NBG Enterprise LLP ·
SVC Enterprise LLP ·
Godrej Vikhroli Properties LLP ·
Godrej Buildcorp LLP ·
Godrej Property Developers LLP |
CAPITAL STRUCTURE
As on 31.03.2012
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 |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
66.291 |
66.291 |
66.291 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23162.820 |
14776.334 |
11735.435 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23229.111 |
14842.625 |
11801.726 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3693.304 |
6682.730 |
2496.000 |
|
|
2] Unsecured Loans |
3511.243 |
2436.476 |
2227.940 |
|
|
TOTAL BORROWING |
7204.547 |
9119.206 |
4723.940 |
|
|
DEFERRED TAX LIABILITIES |
423.881 |
432.581 |
517.981 |
|
|
|
|
|
|
|
|
TOTAL |
30857.539 |
24394.412 |
17043.647 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11226.485 |
8480.693 |
5542.948 |
|
|
Capital work-in-progress |
929.628 |
1476.679 |
2470.410 |
|
|
|
|
|
|
|
|
INVESTMENT |
4611.960 |
4713.078 |
4575.577 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10660.036
|
12258.944
|
9059.687 |
|
|
Sundry Debtors |
13334.015
|
12389.959
|
8384.506 |
|
|
Cash & Bank Balances |
336.261
|
60.015
|
490.603 |
|
|
Other Current Assets |
9237.816
|
1307.020
|
0.000 |
|
|
Loans & Advances |
3464.989
|
2636.653
|
2108.648 |
|
Total
Current Assets |
37033.117
|
28652.591
|
20043.444
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9960.540
|
8618.458
|
8137.674 |
|
|
Other Current Liabilities |
11260.301
|
8944.764
|
6206.843 |
|
|
Provisions |
1722.810
|
1365.407
|
1244.215 |
|
Total
Current Liabilities |
22943.651
|
18928.629
|
15588.732
|
|
|
Net Current Assets |
14089.466
|
9723.962
|
4454.712
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30857.539 |
24394.412 |
17043.647 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
62145.328 |
55337.288 |
43621.790 |
|
|
|
Other Income |
968.508 |
889.078 |
1124.024 |
|
|
|
TOTAL (A) |
63113.836 |
56226.366 |
44745.814 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
22898.160 |
|
39006.749 |
|
|
|
Purchases of stock-in-trade |
14617.681 |
14996.151 |
|
|
|
|
Employee benefit
expense |
7518.906 |
6308.607 |
|
|
|
|
Other expenses |
10861.615 |
9467.067 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
2240.430 |
(2327.468) |
|
|
|
|
Exceptional
Items |
(7559.992) |
(14.484) |
|
|
|
|
TOTAL (B) |
50576.800 |
50068.656 |
39006.749 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12537.036 |
6157.710 |
5739.065 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1059.231 |
655.330 |
525.657 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11477.805 |
5502.380 |
5213.408 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
675.415 |
581.902 |
536.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10802.390 |
4920.478 |
4676.806 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1255.330 |
930.725 |
1314.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9547.060 |
3989.753 |
3362.539 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10198.211 |
7557.312 |
5193.010 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
473.263 |
340.000 |
|
|
|
Dividend |
|
795.492 |
596.619 |
|
|
|
Tax on Dividend |
|
80.099 |
61.618 |
|
|
BALANCE CARRIED
TO THE B/S |
3085.156 |
10198.211 |
7557.312 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
2991.554 |
4257.555 |
3741.509 |
|
|
|
Dividend |
0.903 |
2.637 |
2.198 |
|
|
|
Royalty |
0.000 |
0.000 |
3.356 |
|
|
|
Others |
92.699 |
203.325 |
78.780 |
|
|
TOTAL EARNINGS |
3085.156 |
4463.517 |
3825.843 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3223.630 |
3019.755 |
2416.418 |
|
|
|
Stores & Spares |
68.892 |
70.824 |
40.086 |
|
|
|
Capital Goods |
584.283 |
943.267 |
218.876 |
|
|
|
Others |
4009.953 |
4814.465 |
2858.659 |
|
|
TOTAL IMPORTS |
7886.758 |
8848.311 |
5534.039 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14402.00 |
6019.00 |
5072.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
15.13
|
7.10
|
7.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.38
|
8.89
|
10.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.38
|
13.25
|
18.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.33
|
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31
|
0.61
|
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.51
|
1.29 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS:
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
9960.540
|
8618.458
|
8137.674 |
|
Total |
9960.540
|
8618.458
|
8137.674 |
|
Sr. No. |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 involved in |
----- |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS:
Stamp No.: FAST/24978/2012 Filing
Date: 07.09.2012 Reg. No.:- FA/1424/2012 Reg.
Date:- 18/09/2012
Petitioner: - HOTEL OBEROI TOWERS NOW KNOWN AS TR
Respondent:- M/S. GODREJ AND BOYCE MANUFACTURING COMPANY
PRIVATE LIMITED
Petn.
Adv.:- R.R. GEHANI
District:-
MUMBAI
Bench:- Single
Status:-
Pre-Admission
Next Date:- 25/04/2013
Stage:- FOR ADMISSION –
FRESH [CIVIL SIDE MATERS]
Coram:- ACCORDING TO
SITTING LIST
Last Date:- 19/03/2013
Stage:- FOR ADMISSION –
FRESH [CIVIL SIDE MATERS]
Last
Coram:- HON’BLE SHRI JUSTICE A.H. JOSHI
Act:- Employees State Insurance Act, 1948
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U28993MH1932PLC001828 |
|
Name of the company |
GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Pirojsha nagar, Vikhroli
Mumbai – 400079, Maharashtra, India Email: info@godrej.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10123585 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Export-Import Bank of India, Centre One Building, Floor 21, World Trade
Centre Complex, Cuffe parade, Mumbai – 400 005, Maharashtra, India Email: eximwrro@eximbankindia.in
|
|
Nature of instrument creating charge |
Letter of Confirmation dated September 25, 2012 executed by Godrej and
Boyce Manufacturing Company Limited ("the Borrower") in favour of
Export-Import Bank of India ("Exim Bank") accepting the renewal of
working capital limit of Rs. 6800.000 Millions for a further period of one
year and further confirming that the security created by Borrower shall
continue in favour of EXIM Bank for the renewed period. |
|
Date of instrument Creating the charge |
25/09/2012 |
|
Amount secured by the charge |
Rs. 6800.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest With respect to Rupee disbursements @11% p.a., payable with monthly
rests; with respect to Dollar disbursements
or in other currencies: to be ascertained at the time of making
disbursements Terms of Repayment 1) Each disbursement relating to pre-shipment credit shall be repaid
by the Borrower within 360 days from the date of such disbursement or out of
export proceeds or disbursement under st shipment credit whichever is
earlier. 2) Each disbursement relating to post-shipment credit shall be repaid
by the Borrower within 180 days from the date of such disbursement or out of
export proceeds whichever is earlier. Margin NIL Extent and Operation of the charge The charge created under the Mortgage dated 29th September 2008 in
favour of Exim Bank for the fund based facility and non fund based facility
(the facilities) for the due repayment of the facilities aggregating
Rs.6800.000 Millions together with interest and all other monies payable by
the Borrower to Exim Bank under the Facilities Agreement dated 6th August
2008, shall be valid, subsisting and continuing as first charge in favour of
EXIM Bank. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All those pieces and parcels of leasehold land at Vikhroli i.e. Plant No. 3 (admeasuring 33,220.48 sq.mt.),
Survey No. 35(pt), CTS No.31/7 together with all buildings and structures
thereon. All those pieces and parcels of leasehold land at Vikhroli i.e. Plant
No. 5 (admeasuring 35,817.20 sq.mt.), Survey No. 35(pt), CTS No. 31 (pt),
together with all buildings and structures thereon. All those pieces and parcels of leasehold land at Vikhroli i.e. Plant No. 8 (admeasuring 8,471 sq.mt.),
Survey No. 35(pt), CTS No.31/2 together with all buildings and structures
thereon. All those pieces and parcels of leasehold land at Vikhroli i.e. Plant
No. 12 (admeasuring 23,382 sq.mt.), Survey No.56 (pt), 57(pt), CTS No. 7(pt),
together with all buildings and structures thereon. |
|
Date of instrument modifying the charge |
25.06.2011 |
|
Particulars of the present modification |
Charge created vide mortgage dt 29.09.2008 for fund based and non-fund
based facilities aggregating Rs.6800.000 Millions shall continue to secure
the renewed facilities for a further period of one year as mentioned in the
Letter of Confirmation dated 25th September 2012. |
CONTINGENT LIABILITIES (As on 31.03.2012)
CONTINGENT
LIABILITIES NOT PROVIDED FOR
(a) Guarantees
given by the Company’s Bankers against counter-guarantees given by the Company
Rs. 7532.881 millions
(b) Guarantees given
by the Company’s Bankers on behalf of subsidiary/associate companies against
counter-guarantees given by the Company: Rs. 183.105 millions
(c) Guarantees
given by Export-Import Bank of India, against the security of first equitable
mortgage of specified immovable properties situated at Vikhroli, Mumbai: Rs.
524.224 millions
(d) Excise
Duty/Service Tax/Sales Tax demands in dispute and pending at various stages of
appeal: Rs. 510.459 millions
(e) The State of
Maharashtra has filed a suit against the Company, being Suit No. 679 of 1973,
in the High Court of Judicature at Bombay, claiming ownership of part of the
Company’s lands at Vikhroli, Mumbai. In the said Suit, which is still pending,
various claims have been raised, which are undetermined and not acknowledged as
debts due by the Company. According to the Company’s legal advisers, the
Company has a complete defence against the plaintiff in the said Suit, and the
said Suit is not sustainable.
(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. 3.156 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
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Deferred payment liabilities |
599.062 |
634.358 |
|
Deposits from others |
1310.330 |
1164.467 |
|
Working capital loans from banks |
340.051 |
634.351 |
|
Deposits from shareholders |
1258.500 |
0.000 |
|
Deposits from others |
3.300 |
3.300 |
|
Total |
3511.243 |
2436.476
|
Fixed Assets:
·
·
· Freehold Buildings
· Leasehold Buildings
· Staff and Workmen Quarters
· Machinery
· Vehicles
· Furniture and Fixtures
· Other Equipments
AS PER WEBSITE
DETAILS:
PRESS RELEASE:
IKEA ENTRY SPURS
GODREJ INTERIO TALKS WITH ITALIAN, INDIAN COMPANIES
At a time when Swedish furniture major IKEA is entering the
Indian market, homegrown furniture maker Godrej Interio is actively seeking
acquisitions in India and Italy. The company expects to announce at least one
deal next quarter.
The subsidiary of Godrej and Boyce Manufacturing Company Limited is in
talks with two companies in Italy that specialise in design and technology,
with an estimated revenue of Rs 2000.000 Millions each, for possible buyout,
said Chief Operations Officer Anil Mathur.
“We are also negotiating with two companies in India, one based in the northern
region and the other in the south. These are small companies with turnover not
exceeding Rs 1000.000 Millions,” he said.
The company is looking for acquisitions in India to boost manufacturing
capacity in the northern and southern regions of the country, where it does not
have a strong presence. “Acquisition of an Italian design or technology firm
will help the company is expanding product offerings, which in turn will boost
our consumer business,” he added. Mathur said the company had room to fund
acquisitions on its own and could avail of funds from the parent company if
required.
Godrej Interio plans to increase sales to Rs 50000.000 Millions by 2016-17, a
growth of a little over 20 per cent year-on-year. The present turnover is Rs
15000.000 Millions. Mathur says the company will spend about Rs 1200.000
Millions in raising capacity at different factories over the next two years.
About Rs 250.000 Millions will be spent on retail expansion in this period.
Godrej Interio currently gets about 75 per cent of revenue from institutional
sales and the remaining amount from retail consumer sales. The latter share is
expected grow up to 40 per cent in the next five years, said Mathur.
As part of plans to boost the consumer business, Godrej Interio is planning to
double its retail space from about 500,000 sq ft to a little more than
1,000,000 sq ft in the next one year. It aims to open about 60 exclusive retail
outlets during 2013, mainly in tier-II, tier-III and tier-IV towns. In 2012, it
opened 50 such retail points across the country.
The company recently entered into a marketing tie-up with Korea’s Sejin for
marine accommodation solutions, Japan’s Itoki and the US-based Knoll Inc for
office furniture. It also has an agreement with Netherlands-based LINET Group
for hospital and nursing home furniture.
GODREJ APPLIANCES
SEES 25% SALES GROWTH IN FY2014
Consumer durables maker Godrej Appliances, a part of Godrej and Boyce Manufacturing Company Limited expects its sales to grow around 25 percent year-on-year in 2013-14 (April-March), a top company official said on Monday.
It is expecting to close the current financial year ending March with sales of over Rs 20000.000 Millions, Kamal Nandi, EVP - marketing and sales, told reporters. He was speaking on the sidelines of a new marketing campaign launched by the Godrej Group.
The Group, which also has interests across fast moving consumer goods, real estate, security systems and furniture, among other areas, has roped in film star Aamir Khan as its brand ambassador.
The campaign will showcase different Godrej products and Khan will be seen dressed as a woman in the television commercials, which will go up on air soon.
The company officials said that the company would invest "significantly" in the new advertising campaign, but refused to divulge specific details.
Meanwhile, Godrej Appliances is hoping sales of its cooling products like air conditioners and refrigerators will grow around 15 percent in the current summer season, helped by new launches. Sales of these products were subdued last two years, due to various reasons including price hikes and short summer.
"Since the last two years, sales of cooling products have been depressed. Last to last year, due to short summer sales were slow and last year prices increased, 15-18 percent in air conditioners, and that is why consumer sentiments were depressed. This year we are expecting this pent up demand from last two years will finally get converted into consumption," Nandi said.
This year the prices are more stable, he added.
NO TV SALES FOR NOW
Godrej Appliances is betting big on growing refrigerators, airconditioners, washing machines and microwave ovens going ahead. But it has stopped selling LCD TVs.
The company launched Eon range of LCD TVs in select markets in 2008. It launched game LCD in 2010 and had targeted a 10 percent market share in LCD TV segment, according to media reports that time.
But Godrej Appliances has now put that on the backburner, saying it was only a pilot project they had done.
"We actually did a pilot on television and we restricted to few markets for the pilot. Then we decided not scale ahead," Nandi said.
When asked why the company had decided to switch off TVs, he said the company right now is focusing only on four core categories -- refrigerators, microwaves, air conditioners and washing machines.
"We are trying to focus our entire investment into this core, because what we feel is that this four has a lot of potential. If you look, penetration level of refrigerators is only about 18 percent. AC is just 4 percent, microwave is 3 percent and washing machine is 9 percent. So we would like to capitalise on this our strength that we have, invest in these areas, scale it up, then move into other things," he said.
GODREJ TO PAY RS 6.5K
FOR SELLING DEFECTIVE MICROWAVE
Godrej and Boyce Manufacturing Company Limited has been directed by a consumer forum to pay Rs 6,499 to one of its customers for selling him a defective microwave and failing to replace or repair it.
The North District Consumer Disputes Redressal Forum relied on the invoice endorsed by the company's mechanic, who gave a demonstration of the product , to hold that the machine sold was not in working order and could not be repaired despite replacement of some parts.
"It is clear that machine supplied to the complainant was not in working order. He had brought it to the notice of the company, despite that the machine has not been put in order," the bench presided by Babu Lal said. The forum's order came on the complaint by Delhi resident Deep Chand who had said that he had booked a Godrej Boyce FLORA microwave for Rs 5,499 on February 23, 2012 and it was delivered to him in his office in the Treasury Building at Tis Hazari.
During a demonstration at his house the next day, the microwave did not work and several complaints were made by him, he had said adding despite assurances by the firm to replace the microwave, the same was not done.
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 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 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.54.44 |
|
|
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
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 |
YES |
|
--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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.