MIRA INFORM REPORT

 

 

Report Date :

12.10.2013

 

IDENTIFICATION DETAILS

 

Name :

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

 

 

Registered Office :

Pirojsha nagar, Vikhroli, Mumbai – 400079, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

03.03.1932

 

 

Com. Reg. No.:

11-001828

 

 

Capital Investment / Paid-up Capital :

Rs. 66.291 Millions

 

 

CIN No.:

[Company Identification No.]

U28993MH1932PLC001828

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMG00108D / MUMG06742B / MUMG05774G

 

 

PAN No.:

[Permanent Account No.]

AAACG1395D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Consumer Durables, Industrial Products and Others.

 

 

No. of Employees :

Information declined by the management

 

 

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 106950000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

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.

 

There appears some dip in profitability of the company during current year. However, 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

 

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

 

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

 

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

 

 

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

10.10.2012

 

Rating Agency Name

CRISIL

Rating

A1+ (Short Term Rating)

Rating Explanation

Very strong degree of safety it carry very low credit risk.

Date

10.10.2012

 

 

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 DECLINED

 

MANAGEMENT NON-COOPERATIVE [91-22-67961300 / 67965106]

 

 

LOCATIONS

 

Registered/ Head Office/ Factory 1 :

Pirojsha Nagar, Vikhroli, Mumbai - 400079, Maharashtra, India

Tel. No.:

91-22-67961300/ 67965106/ 67965656/ 67965959

Fax No.:

91-22-67961518/ 67961509

E-Mail :

info@godrej.com

mumbaibr@godrej.com

kap@godrej.com

pef@godrej.com

Website :

http://www.godrejandboyce.com

http://www.godrej.com

 

 

Factory  2 :

Apollo Square Building, Plot No. 60, Sahaney Sujan Park, Lullanagar, Pune - 411040, Maharashtra, India

 

 

Branch Offices :

Located at:

 

·         Ahmedabad

·         Kochi

·         Bangalore

·         Kolkata

·         Bhopal

·         Lucknow

·         Bhubaneswar

·         New Delhi

·         Mohali

·         Patna

·         Chennai

·         Pune

·         Raipur

·         Guwahati

·         Ranchi

·         Secunderabad

·         Haridwar

·         Jaipur

·         Visakhapatnam

 

 

DIRECTORS

 

AS ON 02.09.2013

 

Name :

Mr. Jamshyd Naoroji Godrej

Designation :

Managing Director

Address :

40-D, B.G. Kher Marg, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth :

24.01.1949

Qualification :

B.S., (Mech. Engg.) (Illinois Institute of Technology, Chicago)

Experience :

39 Years

Date of Appointment :

01.04.2011

PAN No.:

AACPG0840L

Voter ID No.:

MT/04/024/099982

DIN No.:

00076250

 

 

Name :

Mr. Adi Barjorji Godrej

Designation :

Director

Address :

Godrej House, 67H, Walkeshwar Road, Opposite Birla Public School, Mumbai – 400006, 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

Voter ID No.:

MT/04/024/273279

DIN No.:

00065964

 

 

Name :

Mr. Nadir Burjorji Godrej

Designation :

Director

Address :

40-D, B.G. Kher Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth :

26.08.1951

Qualification :

B.S. (Chem. Engg) (MIT, USA); M.S. (Chem. Engg.) (Stanford, USA) M.B.A. (Harvard, USA)

Date of Appointment :

27.09.1990

PAN No.:

AADPG7643Q

Voter ID No.:

MT/04/024/099721

DIN No.:

00066195

 

 

Name :

Mr. Vijay Mohan Crishna

Designation :

Whole-time director

Address :

A-261, Grand Parade Apartments, Off August Kranti Marg, Mumbai – 400026, Maharashtra, India.

Date of Birth :

08.03.1945

Qualification :

B.A. (Economics) (Hons.)

Experience :

36 Years

Date of Appointment :

01.04.2011

PAN No.:

AACPC1580F

Voter ID No.:

MT/04/024/009615

DIN No.:

00066267

 

 

Name :

Mr. Kavas Noshirwan Petigara

Designation :

Director

Address :

801, Citadel, 18-B, Ruparel Marg, Maharashtra, Mumbai – 400006, 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

DIN No.:

00066162

 

 

Name :

Mr. Phiroze Dinshaw Lam

Designation :

Whole-time director

Address :

21/23 Mistry Park, 77 B Desai Road, Mumbai – 400036, Maharashtra, India

Date of Birth :

06.03.1945

Qualification :

B.A., LLB, Solicitor

Date of Appointment :

01.04.2011

Voter ID No.:

MT/04/024/240827

DIN No.:

00066218

 

 

Name :

Mr. Kyamas Ardeshir Palia

Designation :

Whole-time director

Address :

7C, Wadia Street, Tardeo, Mumbai – 400034, Maharashtra, India

Date of Birth :

22.11.1945

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

 

 

Name :

Mr. Pradip Panalal Shah

Designation :

Director

Address :

72-A, Embassy Apartments, 46 Napean Sea Road, Mumbai – 400006, 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.:

JRW1344530

DIN No.:

00066242

 

 

Name :

Mrs. Anita Ramchandran

Designation :

Director

Address :

2401-2402, ‘A’ Wing, Raheja Atlantis, Ganpatrao Kadam, Marg, Worli Naka, Mumbai - 400018, Maharashtra, India

Date of Birth :

28.04.1955

Qualification :

B.Com., M.B.A.

Date of Appointment :

10.09.2007

DIN No.:

00118188

 

 

Name :

Mr. Anil Kumar Verma

Designation :

Whole time Director

Address :

Flat No. 902-B, 9th Floor, Fantasia CHS Limited, Raheja Garden, Teen Haath Naka, LBS Road, Thane – 400604, Maharashtra, India

Date of Birth :

22.06.1957

Qualification :

B. Tech (Elec.) PGDBM (IIM, Ahmedabad)

Date of Appointment :

01.04.2011

Voter ID No.:

ZMH3498706

DIN No.:

02366334

 

 

Name :

Mr. Navroze Jamshyd Godrej

Designation :

Director

Address :

40-D, B.G. Khar Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth :

10.06.1982

Qualification :

B.A. (Mass Comm. and French)

Date of Appointment :

23.08.2010

PAN No.:

AECPG7092J

DIN No.:

03049821

 

 

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

Voter ID No.:

MT/04/024/051540

 

 

Name :

Antao A B

Designation :

Executive Vice President

 

 

Name :

Dumasia C N

Designation :

Vice President

 

 

Name :

Gandhi P K

Designation :

Chief Operating Officer

 

 

Name :

Gandhi S C

Designation :

Senior Vice President

 

 

Name :

Mathew A P

Designation :

Associate Vice President

 

 

Name :

Mehta Subodh Kumar

Designation :

Senior Vice President

 

 

Name :

Narvekar D D

Designation :

Vice President

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 02.09.2013

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 02.09.2013

 

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 :

Manufacturer of Consumer Durables, Industrial Products and Others.

 

 

Products/ Services :

ITC Code No.

Product Descriptions

99999999

Consumer Durables, Industrial Products and Others

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the management

 

 

Bankers :

v      Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

 

v      Central Bank of India, Corporate Finance Branch, Central Bank of India Building, 1st Floor, M.G. Road, Mumbai - 400023, Maharashtra, India

 

v      Housing Development Finance Corporation Limited, Ramon House 169 Backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India

 

v      Corporation Bank, Industrial Finance Branch, Bhavrat House No.104, Ground Floor, Bombay Samachar, Mumbai - 400023, Maharashtra, India

 

 

Facilities :

 

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Term loans from banks

11.250

179.900

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

2387.490

3513.940

 

 

 

Total

 

2398.740

3693.840

 

LONG TERM BORROWINGS

 

i)         Term Loan from The Zoroastrian Co-operative Bank Limited is secured by way of hypothecation of specified machinery and equipment. It carries an interest rate of Minimum Lending Rate minus 3.50% p.a. (11.00% p.a. as at 31-03-2013), and is repayable in one final installment of Rs. 40.000 Millions due on 17-03-2014.

 

ii)       Term Loan from Corporation Bank is secured by first equitable mortgage of specified immovable properties situated at Vikhroli, Mumbai. It carries an interest rate of Base Rate plus 3.25% p.a. (13.35% p. a. as at 31-03-2013), and is repayable in one final installment of Rs. 24.900 Millions due on 30-06-2013.

 

iii)      Term Loan from Central Bank of India is secured by exclusive charge by way of hypothecation of specified machinery and equipment. It carries an interest rate of Base Rate plus 1.50% p.a. (11.75% p.a. as at 31-03-2013), and is repayable in 2 equal quarterly installments of Rs. 50.000 Millions each, due on 29-04-2013 and 29-07-2013.

 

iv)      Term Loan from HDFC is secured by first equitable mortgage of specified immovable properties situated at Vikhroli, Mumbai. It carries an interest rate of HDFC-CPLR minus 4.75% p.a. (12.75% p.a. as at 31-03-2013), and is repayable in 48 monthly installments of Rs. 0.312 Million each, beginning from 30-04-2013 and continuing upto 31-03-2017.

 

v)        Interest-free Loans under the Sales Tax Deferral Schemes of various State Governments are payable in quarterly and annual installments as may be prescribed in the Schemes, beginning from 20-04-2013 and continuing upto 01-04-2023.

 

vi)      Fixed Deposits from employees and public carry interest rates ranging from 8.00% p.a. to 10.25% p.a. payable monthly or half-yearly, and have a maturity period of 3 years from the respective dates of deposit.

 

SHORT TERM BORROWINGS

 

i)         Working Capital Facilities from Banks [including Rs. 661.394 Millions due and payable in foreign currency (as at 31-3-2012: Rs. 693.295 Millions] are secured by a first pari passu charge by way of hypothecation of inventories and book debts. They carry interest rates ranging from 10.70% p.a. to 13.25% p.a. and are generally renewable each year; foreign currency borrowings carry lower interest rates of around 3.00% p.a.

 

ii)       Export Credits from Export-Import Bank of India are secured by first equitable mortgage of specified immovable properties situated at Vikhroli, Mumbai. They carry an interest rate of 10.00% p.a., and are payable/ renewable after 180 days.

 

iii)      Deposits from Companies carry an interest rate of 10.00% p.a. payable quarterly, and have a maturity period of 3 months or 6 months from the respective dates of deposit.

 

iv)      Deposits from Shareholders have a maturity period of 3 months from the respective dates of deposit, and carry an interest rate of 10.25% p.a. payable at maturity.

 

v)        In respect of Negotiable Commercial Paper, the maximum balance outstanding during the year was Rs. 2500.000 Millions (Previous Year: Rs. 1500.000 Millions).

 

vi)      Other Borrowings are Buyers Credit from Banks, due and payable in foreign currency, and carry interest rates ranging from 1.05% to 1.50% p.a.

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Kalyaniwalla and Mistry

Chartered Accountants

Address :

Maneckji Wadia Building, 127, Mahatma Gandhi Road, Mumbai – 400023, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAFK7554R

 

 

Shareholder with a substantial interest in voting power:

Godrej Investments Private Limited [U65990MH1975PTC018480] (holds 26.77% of the equity share capital of the Company)

 

 

Subsidiaries (with the Company's direct equity holdings in excess of 50%):

v      Godrej Industries Limited [L24241MH1988PLC097781]

v      Godrej Infotech Limited [U32100MH1997PLC106135]

v      Wadala Commodities Limited [L15142MP1984PLC002382]

v      Godrej (Malaysia) Sdn. Bhd.

v      Godrej (Singapore) Pte. Limited

v      Veromatic International BV

v      Busbar Systems (India) Limited [U31200KA2009PLC049167] (formerly Busbar Systems (India) Private Limited), (a Wholly-owned subsidiary w.e.f. 1st February, 2013) (name changed w.e.f. 15th March, 2013)

 

 

Subsidiaries of Godrej Industries Limited :

v      Godrej Agrovet Limited (GAVL)

v      Godrej Properties Limited [L74120MH1985PLC035308]

v      Ensemble Holdings and Finance Limited

v      Godrej International Limited (incorporated in the Isle of Man)

v      Natures Basket Limited [U15310MH2008PLC182816]

v      Godrej International Trading and Investments Pte Limited (Incorporated in Singapore) (a subsidiary of Godrej Industries Limited w.e.f. 1st August, 2011)

v      Swadeshi Detergents Limited (a subsidiary of Godrej Industries Limited w.e.f. 20th March, 2013)

 

 

Subsidiaries of GAVL :

v      Golden Feed Products Limited

v      Godrej Seeds and Genetics Limited (a subsidiary of GAVL w. e. f. 6th June, 2011)

v      Goldmuhor Agrochem and Feeds Limited (a subsidiary of GAVL w.e.f. 2nd January, 2013)

 

 

Subsidiaries of GPL :

v      Godrej Realty Private Limited

v      Godrej Waterside Properties Private Limited

v      Godrej Real Estate Private Limited

v      Godrej Developers Private Limited

v      Godrej Sea View Properties Private Limited

v      Happy Highrises Limited

v      Godrej Estate Developers Private Limited

v      Godrej Buildwell Private Limited

v      Godrej Buildcon Private Limited

v      Godrej Projects Development Private Limited

v      Godrej Premium Builders Private Limited

v      Godrej Garden City Properties Private Limited

v      Godrej Nandhi Hills Project Private Limited

v      Godrej Landmark Redevelopers Private Limited (a subsidiary of Godrej Projects Development Private Limited w.e.f. 14th March, 2012)

v      Godrej Redevelopers (Mumbai) Private Limited (Subsidiary of Godrej Projects Development Private Limited w.e.f. 8th February, 2013)

 

 

Subsidiary of Godrej (Malaysia) Sdn. Bhd.:

G&B Enterprises (Mauritius) Private Limited (incorporated in Mauritius) (a wholly-owned subsidiary of Godrej (Malaysia) Sdn. Bhd.)

 

 

Subsidiaries of Godrej (Singapore) Pte. Limited :

v      JT Dragon Pte. Limtied (Incorporated in Singapore)

v      Godrej (Vietnam) Company Limited (Incorporated in Vietnam) (a wholly owned subsidiary of JT Dragon Pte. Limited)

 

 

Subsidiaries of Veromatic International BV :

v      Veromatic Services BV (incorporated in the Netherlands)

v      Water Wonder Benelux BV (incorporated in the Netherlands)

 

 

Other Subsidiaries :

v      Mercury Manufacturing Company Limited [U28112TN1992PLC023798]

v      Godrej Consumer Products Limited [L24246MH2000PLC129806] (GCPL)

 

I. Subsidiaries and Sub-subsidiaries of GCPL:

 

v      Godrej South Africa (Proprietary) Limited (formerly, Rapidol (Pty) Limited) (incorporated in South Africa)

v      Godrej Netherlands BV (incorporated in the Netherlands)

v      Godrej Global Mid East FZE (incorporated in Sharjah, U.A.E.)

v      Godrej Consumer Products Mauritius Limited

v      Godrej Hygiene Products Limited

v      Godrej Consumer Products Holding (Mauritius) Limited (incorporated in Mauritius)

v      Godrej Household Products Lanka (Private) Limited (incorporated in Sri Lanka)

v      Godrej Household Products (Bangladesh) Private Limited (incorporated in Bangladesh)

v      Godrej Consumer Products Bangladesh Limited (incorporated in Bangladesh)

v      Godrej Mauritius Africa Holdings Limited (incorporated in Mauritius)

v      Godrej Weave Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Mauritius Africa Holdings Limited)

v      Godrej Consumer Products (UK) Limited (incorporated in the United Kingdom) (a subsidiary of Godrej Netherlands BV)

v      Keyline Brands Limited (a subsidiary of Godrej Consumer Products (UK) Limited)

v      Inecto Manufacturing Limited (a subsidiary of Keyline Brands Limited)

v      Godrej Kinky Holdings Limited (a subsidiary of Godrej Consumer Products Mauritius Limited)

v      Kinky Group Pty Limited (a subsidiary of Godrej Kinky Holdings Limited)

v      Godrej Nigeria Limited (incorporated in Nigeria) (a subsidiary of Godrej Consumer Products Mauritius Limited)

v      Indovest Capital Limited (incorporated in Malaysia) (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)

v      Godrej Consumer Products Dutch Cooperatief UA, (incorporated in the Netherlands) (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)

v      Godrej Consumer Holdings (Netherlands) BV (incorporated in the Netherlands) (a subsidiary of Godrej Consumer Products Dutch Cooperatief UA)

v      Godrej Consumer Products (Netherlands) BV (incorporated in the Netherlands) (a subsidiary of Godrej Consumer Products Dutch Cooperatief UA )

v      Godrej Indonesia Netherlands Holding BV (incorporated in the Netherlands) (a subsidiary of Godrej Consumer Products Dutch Cooperatief UA)

v      PT Megasari Makmur (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)

v      PT Intrasari Raya (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)

v      PT Simba Indosnack Makmur (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)

v      PT Ekamas Sarijaya (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)

v      PT Indomas Susemi Jaya (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)

v      PT Sarico Indah (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)

v      Godrej Argentina Dutch Cooperatief UA (incorporated in Netherlands) (a subsidiary of Godrej Consumer Products Mauritius Limited)

v      Godrej Netherlands Argentina Holding BV. (incorporated in Netherlands) (a subsidiary of Godrej Argentina Dutch Cooperatief UA)

v      Godrej Netherlands Argentina BV (incorporated in the Netherlands) (a subsidiary of Godrej Argentina Dutch Cooperatief UA)

v      Panamar Procuccioness Srl (incorporated in Argentina) (a subsidiary of Godrej Netherlands Argentina BV)

v      Argencos S.A. (incorporated in Argentina) (a subsidiary of Godrej Netherlands Argentina BV)

v      Laboratoria Cuenca S.A. (incorporated in Argentina) (a subsidiary of Godrej Netherlands Argentina BV)

v      Issue Group Uruguay S.A. (incorporated in Uruguay) (a subsidiary of Laboratoria Cuenca S.A.)

v      Deciral S.A. (incorporated in Uruguay) (a subsidiary of Laboratoria Cuenca S.A.)

v      Issue Group Brazil Limited (incorporated in Brazil) (a subsidiary of Laboratoria Cuenca S.A.)

v      Consell S.A. (incorporated in Argentina) (a subsidiary of Laboratoria Cuenca S.A.)

v      Godrej Consumer Products Nepal Private Limited

v      Subinite Pty Limited (incorporated in South Africa) (a subsidiary of Weave Business Holdings Mauritius Private Limited)

v      Lorna Nigeria Limited (incorporated in Nigeria) (a subsidiary of Weave Business Holdings Mauritius Private Limited)

v      Weave IP Holding Mauritius Private Limited (incorporated in Mauritius) (a subsidiary of Weave Business Holdings Mauritius Private Limited)

v      DGH Mauritius Private Limited (incorporated in Mauritius) (a subsidiary of Godrej Weave Holdings Limited)

v      Weave Business Holdings Mauritius Private Limited (incorporated in Mauritius) (a subsidiary of DGH Phase Two Mauritius Private Limited)

v      Weave Trading Mauritius Private Limited (incorporated in Mauritius) (a subsidiary of Godrej Weave Holdings Limited)

v      Hair Trading (offshore) S. A. L. (incorporated in Lebanon) (a subsidiary of Weave Trading Mauritius Private Limited)

v      Weave Mozambique Limitada (incorporated in Mozambique) (a subsidiary of Weave Business Holdings Mauritius Private Limited)

v      Godrej Consumer Investments (Chile) Spa, (incorporated in Chile) (a subsidiary of Godrej Netherlands BV w.e.f. 5th April, 2012)

v      Godrej Holdings (Chile) Limitada, (incorporated in Chile) (a subsidiary of Godrej Consumer Investments Spa w.e.f. 5th April, 2012)

v      Cosmetica Nacional, (incorporated in Chile) (a subsidiary of Godrej Holdings (Chile) Limitada w.e.f. 20th April, 2012)

v      Plasticos Nacional, (incorporated in Chile) (a subsidiary of Cosmetica Nacional w.e.f. 20th April, 2012)

v      Godrej East Africa Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Consumer Products Limited w.e.f. 20th July, 2012)

v      Style Industries Limited (incorporated in Kenya) (a subsidiary of DGH Phase Two Mauritius Private Limited w.e.f. 1st November, 2012)

v      DGH Phase Two Mauritius Private Limited (incorporated in Mauritius) (a subsidiary Godrej East Africa Holdings Limited w.e.f. 1st November, 2012)

v      Godrej Tanzania Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Consumer Products Limited w.e.f. 30th November, 2012)

v      DGH Tanzania Limtied (incorporated in Tanzania) (a subsidiary of Godrej Tanzania Holdings Limited w.e.f. 6th December, 2012)

 

 

Enterprises over which the Company’s Chairman and Managing Director, Mr. J. N. Godrej, is able to exercise significant influence:

v      Geometric Limited [L72200MH1994PLC077342]

v      Godrej and Boyce Enterprises LLP

v      JNG Enterprise LLP

v      RKN Enterprise LLP

 

 

Joint Venture Company :

Godrej Efacec Automation and Robotics Limited [U28990MH1996PLC104088]

 

 

Other Associates :

v      Godrej and Khimji (Middle East) LLC (incorporated in Oman)

v      LVD Godrej Infotech NV (incorporated in Belgium)

v      ABG Venture LLP

v      NBG Enterprise LLP

v      SVC Enterprise LLP

v      Godrej Vikhroli Properties LLP

v      Godrej Buildcorp LLP

v      Godrej Property Developers LLP

v      Sheetak Inc., USA

v      Future Factory LLP

v      Mosaic Landmarks LLP

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,100,000

Equity Shares

Rs. 100/- each

Rs. 110.000 Millions

900,000

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

 

 

 

 

662,910

Equity Shares

Rs. 100/- each

Rs. 66.291 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

66.291

66.291

66.291

(b) Reserves & Surplus

26672.187

23162.820

14776.334

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

26738.478

23229.111

14842.625

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4374.387

2062.362

2328.725

(b) Deferred tax liabilities (Net)

661.862

423.881

432.581

(c) Other long term liabilities

1480.505

1367.046

528.786

(d) long-term provisions

429.774

409.374

219.357

Total Non-current Liabilities (3)

6946.528

4262.663

3509.449

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

5791.940

5115.791

6790.481

(b) Trade payables

7912.783

8340.922

8618.458

(c) Other current liabilities

13516.431

11539.803

8415.978

(d) Short-term provisions

1436.252

1313.436

1146.050

Total Current Liabilities (4)

28657.406

26309.952

24970.967

 

 

 

 

TOTAL

62342.412

53801.726

43323.041

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12252.718

11205.890

8465.264

(ii) Intangible Assets

20.494

20.595

15.429

(iii) Capital work-in-progress

2255.301

929.628

1476.679

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

4830.691

4586.960

4688.078

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1264.286

1398.044

1309.952

(e) Other Non-current assets

8922.746

8252.062

1050.173

Total Non-Current Assets

29546.236

26393.179

17005.575

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

25.000

25.000

25.000

(b) Inventories

14583.847

10660.036

12258.944

(c) Trade receivables

13729.946

12845.492

12389.959

(d) Cash and cash equivalents

339.381

336.261

60.015

(e) Short-term loans and advances

2458.655

2066.945

1326.701

(f) Other current assets

1659.347

1474.813

256.847

Total Current Assets

32796.176

27408.547

26317.466

 

 

 

 

TOTAL

62342.412

53801.726

43323.041

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from operations

68093.333

62200.001

55337.288

 

 

Other Income

1052.131

968.508

889.078

 

 

TOTAL                                    

69145.464

63168.509

56226.366

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

27342.205

23019.676

21638.783

 

 

Purchases of stock-in-trade

17066.526

14617.681

14996.151

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(2354.452)

1803.397

(2327.468)

 

 

Employee benefit expense

8434.851

7314.627

6308.607

 

 

Other expenses

13589.219

11436.084

9467.067

 

 

TOTAL                                    

64078.349

58191.465

50083.140

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

5067.115

4977.044

6143.226

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

1050.510

1059.231

655.330

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

4016.605

3917.813

5487.896

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

771.468

675.415

581.902

 

 

 

 

 

 

EXCEPTIONAL ITEMS

1060.318

7559.992

14.484

 

 

 

 

 

 

PROFIT BEFORE TAX

4305.455

10802.390

4920.478

 

 

 

 

 

Less

TAX                                                                 

851.520

1255.330

930.725

 

 

 

 

 

 

PROFIT AFTER TAX

3453.935

9547.060

3989.753

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

17624.695

10198.208

7557.308

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Equity Dividend: 1600% (Previous Year: 1500%)

1060.656

994.365

795.492

 

 

Corporate Dividend Tax (Net)

127.104

108.157

80.098

 

 

Transfer to General Reserve

350.055

1018.051

473.263

 

BALANCE CARRIED TO THE B/S

19540.815

17624.695

10198.208

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of Goods on FOB basis

3907.586

2991.554

4257.555

 

 

Dividend

1.076

0.903

2.637

 

 

Freight recovered

104.284

92.699

203.325

 

TOTAL EARNINGS

4012.946

3085.156

4463.517

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

3752.176

3223.630

3019.755

 

 

Spare Parts and Components

226.528

68.892

70.824

 

 

Capital Goods

818.496

584.283

943.267

 

 

Finished Goods

4550.197

4009.953

4814.465

 

TOTAL IMPORTS

9347.397

7886.758

8848.311

 

 

 

 

 

 

Earnings Per Share (Rs.)

5210.00

14402.00

6019.00

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

PAT / Total Income

(%)
5.00

15.11

7.10

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
6.32

17.37

8.89

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
5.69

22.37

13.24

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.16

0.47

0.33

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
0.38

0.31

0.61

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.14

1.04

1.05

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

CURRENT MATURITIES OF LONG TERM DEBT

 

Particulars

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

31.03.2011

(Rs. In Millions)

(a) Secured Term Loans from Banks and Financial Institutions

 

 

 

(i) Term Loan from The Zoroastrian Co-operative Bank Limited

40.000

40.000

0.000

(ii) Term Loan from Corporation Bank

24.900

125.000

125.000

(iii) Term Loan from Central Bank of India

100.000

200.000

200.000

(iv) Term Loan from Housing Development Finance Corporation Limited (HDFC)

3.750

0.000

0.000

(b) Unsecured Long term Borrowings

 

 

 

(i) Interest-free Loans under the Sales Tax Deferral Schemes of various State Governments

28.230

28.183

29.950

(ii) Fixed Deposits

332.580

830.886

387.674

(iii) Loans guaranteed by a Director

0.000

0.000

0.000

 

 

 

 

Total

 

529.460

1224.069

742.624

 

 

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

No

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

No

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

Yes

34]

External Agency Rating, if available

Yes

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10363787

27/06/2012

85,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA

B42926675

2

10277642

17/03/2011

80,000,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

MAHIM BRANCH,DELTA APARTMENTS, GROUND FLOOR, SOONAWALLA AGIARY LANE, MAHIM, MUMBAI - 400016, MAHARASHTRA, INDIA

B09631623

3

10123585

22/08/2013 *

6,800,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING,FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA

B82846320

4

10005578

04/05/2006

30,000,000.00

UNION BANK OF INDIA LIMITED

MAHARASHTRA, INDIA

A01022086

5

90236467

14/10/2005

140,000,000.00

CENTRAL BANK OF INDIA

CORPORATION FINANCE BRANCH, CENTRE BANK BUILDING MG ROAD, MUMBAI - 400023, MAHARASHTRA, INDIA

-

6

80026323

14/10/2005

940,000,000.00

CENTRAL BANK OF INDIA

CHANDARMUKHI, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA

-

7

90236366

22/07/2005 *

40,000,000.00

UTI BANK LIMITED

UNIVERSAL INCURANCE, PM ROAD, MUMBAI - 400001, MAHARASHTRA, INDIA

-

8

90236303

27/09/2011 *

14,900,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH, CENTRAL BANK OF INDIA BUILDING, 1ST FLOOR, M.G.ROAD, MUMBAI - 400079, MAHARASHTRA, INDIA

B23452899

9

90231075

14/12/2000

20,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

10

90236032

29/09/2000

200,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, WORLD TREDE CENTRE, MUMBAI - 400005, MAHARASHTRA, INDIA

-

11

90231011

19/03/1999

5,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

12

90230877

29/01/1996

130,000,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

13

90230736

15/03/1993

75,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

14

90230726

13/10/1992

10,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

15

90230697

24/11/1992 *

70,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

16

90230691

27/01/1992

25,000,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

17

90230685

20/12/1991 *

63,500,000.00

UNION BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, NARIMAN POINT, BOMBAY, MAHARASHTRA, INDIA

-

18

90230627

28/07/1990

4,000,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

19

90230621

28/05/1990

1,212,100.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

20

90230617

04/04/1990

20,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

21

90230612

17/09/1990 *

17,500,000.00

THE HONGKONG & SHANGAHI BANKING CORPORATION

52/60MAHARTMA GANDHI ROAD, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

22

90230581

19/04/1989

15,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

23

90230578

21/03/1989

893,500.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

24

90230576

17/03/1989

1,721,400.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

25

90230574

28/02/1989

41,800.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

26

90230573

04/04/1990 *

30,000,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

27

90230563

10/01/1989

1,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

28

90230547

03/08/1988

418,100.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

29

90230541

07/07/1988

223,800.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

30

90230538

10/06/1988

1,875,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

31

90230536

06/06/1988

5,000,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

32

90230491

27/03/1987

1,045,400.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

33

90230468

27/10/1986

1,800,000.00

UNION BANK OF INDIA

B.S. MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

34

90230422

10/05/1985

550,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

35

90230418

25/03/1985

580,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

36

90230413

07/02/1985

1,712,000.00

THESARASWAT CO-OPRATIVE BANK LIMITED

SARASWAT BANK BUILDINGS, NIKADWARI LANE, BOMBAY, MAHARASHTRA, INDIA

-

37

90230350

12/08/1982

3,000,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

38

90230349

20/07/1982

2,500,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

39

90230335

30/09/1981

1,800,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

40

90230319

16/12/1980

2,500,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

41

90230308

12/05/1980

935,400.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

42

90230259

15/07/1975

61,065.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

43

90230257

30/04/1975

825,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

44

90230244

21/01/1974

572,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

45

90230235

02/03/1973

1,500,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

46

90230233

05/12/1972

500,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

47

90230225

12/05/1972

550,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

48

90230219

18/10/1971

500,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

49

90230212

30/07/1970

300,000.00

THESARASWAT CO-OPRATIVE BANK LIMITED

SARASWAT BANK BUILDINGS, NIKADWARI LANE, BOMBAY, MAHARASHTRA, INDIA

-

50

90231327

20/12/1968

500,000.00

THE UNION BANK OF INDIA LIMITED.

66/80; APOLLO STREET, MUMBAI, MAHARASHTRA, INDIA

-

51

90230196

17/07/1968

500,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

52

90230195

15/07/1968

200,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

53

90230192

09/01/1968

200,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

54

90230189

01/07/1967

41,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

55

90230188

02/06/1967

500,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

56

90230185

04/03/1967

200,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

57

90230184

06/12/1966

300,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

58

90230183

24/09/1966

1,000,000.00

UNION BANK OF INDIA

B.S. MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

59

90230182

04/07/1966

700,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

60

90230181

30/05/1966

200,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

61

90230179

07/02/1966

100,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

62

90230177

12/10/1965

300,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

63

90230175

15/01/1965

150,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

64

90230171

22/09/1964

100,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

65

90230170

28/07/1964

800,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

66

90230169

04/05/1964

100,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

67

90230167

17/01/1964

200,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

68

90230164

30/09/1963

200,000.00

THE UNION BANK OF INDIA LIMITED

66/80; APPOOLO STREET, FORT BOMBAY, BOMBAY, MAHARASHTRA, INDIA

-

69

90230162

16/04/1963

100,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

70

90230159

02/11/1962

500,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

71

90230156

09/02/1962

100,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

72

90230155

10/05/1961

100,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

73

90230149

26/09/1960

150,000.00

UNION BANK OF INDIA

66/80 APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA

-

74

90230147

11/05/1960

100,000.00

UNION BANK OF INDIA

B.S.MARG BRANCH, 66/80; B.S. MARG, BOMBAY, MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

 

UNSECURED LOANS

 

UNSECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Deferred payment liabilities

570.497

599.062

Deposits from others

3792.640

1283.400

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

1532.650

340.051

Deposits from shareholders

1868.500

1258.500

Deposits from others

3.300

3.300

 

 

 

Total

 

7767.587

3484.313

 

 

CONTINGENT LIABILITIES [AS ON 31.03.2013]:

 

(a) Guarantees given by the Company’s Bankers against counter-guarantees given by the Company Rs. 8084.381 Millions (as at 31-03-2012: 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. 45.884 Millions (as at 31-03-2012: Rs. 183.105 Millions); Guarantee given by the Company to a Banker on behalf of a subsidiary company: Rs. 160.000 Millions (as at 31-3-2012: Rs. Nil).

 

(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. 512.655 Millions (as at 31-03-2012: Rs. 524.224 Millions).

 

(d) Excise Duty/Service Tax/Sales Tax/Property Tax demands in dispute and pending at various stages of appeal:

Rs. 1175.485 Millions (as at 31-3-2012: Rs. 852.220 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. 5.797 Millions (as at 31-3-2012: 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. Nil (as at 31-03-2012: 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.


FIXED ASSETS:

 

v      Land

v      Buildings

v      Plant and equipment

v      Furniture and fixtures

v      Vehicles

v      Office equipment

v      Brands and trade marks

v      Trade marks

v      Know-how

 

 

PRESS RELEASE

 

GODREJ MULLS MOVING PLANTS FROM VIKHROLI TO CUT COST

 

August 28, 2013

 

Godrej and Boyce Manufacturing Company today said it is looking at shifting some of its manufacturing plants from Vikhroli in Mumbai to other locations to cut costs as it stares at a sales growth of less than 5 percent this fiscal due to the economic slowdown.

 

Godrej and Boyce Manufacturing Company today said it is looking at shifting some of its manufacturing plants from Vikhroli in Mumbai to other locations to cut costs as it stares at a sales growth of less than 5 percent this fiscal due to the economic slowdown. It is planning to shift the plants to other locations in Gujarat, Maharashtra and Uttar Pradesh. "Shifting plants out of Vikhroli will help us save cost. We will shift to locations where costs of operation are lower. We are scouting for locations for new manufacturing plants," Godrej and Boyce Manufacturing Company Executive Director Vijay M Crishna told PTI.

 

At present, 12 of the 14 business divisions of Godrej and Boyce have manufacturing plants at Vikhroli, in the suburbs of Mumbai, and around 7,700 people are employed there. The products made there include furniture, locks, audio/video solutions, precision engineering and security solutions. That apart, most businesses of the Godrej group and their manufacturing plants are also based in Vikhroli. When asked about the investment the company would have to make in shifting its manufacturing plants, Crishna said: "Of course, there will be significant investment but at this point of time I will not be able to give you a number." Hit by market slowdown, Godrej and Boyce is expecting less than 5 percent growth in turnover during the current fiscal amidst economic slowdown and the depreciating rupee. The company had reported turnover of Rs 22000.000 Millions in the previous financial year and growth of 10 percent. "Market was bad last year too but this year is worse. Looking at the present market conditions, we would be lucky to get out of this year in a plus position. We will grow by less than five percent," Crishna said. The rupee depreciation is putting pressure on the firm's margins as it imports components to manufacture appliances. The domestic currency today touched all time low of Rs 68.75 against the US dollar. When asked what the company plans to do to push growth, he said: "We are trying to add value to our products to make it attractive for our customers such as higher energy efficiency. Making products that are more environment friendly." Godrej is also looking at expanding its export base to improve margins due to rupee depreciation. "All business are looking at increasing exports. We are looking at markets such as Middle East where we can export our appliances. It will help us improve our margins," he added. At present, exports account for only 2 percent of the company's overall sales. On October 10, -, Godrej Boyce Mfg. Co. closed at Rs 1.00, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs and the 52-week low was Rs. The company's trailing 12-month (TTM) EPS was at Rs per share as per the quarter ended October 2013. The stock's price-to-earnings (P/E) ratio was 0. The latest book value of the company is Rs per share. At current value, the price-to-book value of the company was 0.00.









 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No 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. 62.14

UK Pound

1

Rs. 99.02

Euro

1

Rs. 83.87

 

 

INFORMATION DETAILS

 

Information Gathered by :

PDT

 

 

Report Prepared by :

BVA

 

 

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

NO

--AFFILIATION

YES/NO

Yes

--LISTED

YES/NO

No

--OTHER MERIT FACTORS

YES/NO

Yes

DEFAULTERS 

 

 

--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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.