MIRA INFORM REPORT

 

 

Report No. :

319571

Report Date :

29.04.2015

 

IDENTIFICATION DETAILS

 

Name :

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

 

 

Registered Office :

Pirojsha nagar, Vikhroli, Mumbai – 400079, Maharashtra

Tel No.:

91-22-67961300

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.03.1932

 

 

Com. Reg. No.:

11-001828

 

 

Capital Investment / Paid-up Capital :

Rs.66.300 Million

 

 

CIN No.:

[Company Identification No.]

U28993MH1932PLC001828

 

 

IEC No.:

Not Available

 

 

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 :

5000 (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

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject as a holding company for Godrej Group. It is an old and well established company having fine track.

 

The company possesses a healthy financial profile marked by large networth base majorly comprised of strong position of reserves along with favourable capital structure and robust debt protection metrics.

 

Subsequently, there appears a decent financial flexibility driven by its healthy investment portfolio and sizeable leased real estate assets, which generates a regular dividend income and real estate leasing income, supporting its cash inflows

 

Moreover, the ratings is slightly constrained by the fact that the large part of its borrowings is used for satisfying its working capital requirements.

 

Management has witnessed a revenue growth, mainly driven by the consumer products segment and income from property development, whereas has reported moderate margins on the back of high raw material prices and rupee depreciation, as it sources its major raw material requirements through import.

 

The ratings also take into consideration, the exposure to competitive pressures in the consumer durable industry which can be curbed in by focusing on innovative technology and indulging into qualitative research and development activities.

 

Further the ratings are constrained due to subdued economy, slightly mitigated by the company’s diversified business profile.

 

Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments.

 

In view of experienced promoters and an established track record of nearly 100 years coupled with a positive brand image, the company can be considered for good business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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

December 24, 2014

 

Rating Agency Name

CRISIL

Rating

A1+ (Short Term Rating)

Rating Explanation

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

Date

December 24, 2014

 

 

 

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Chitra Iyer

Designation :

Finance Manager

Contact No.:

91-22-67963204

 

 

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 :

27.09.2012

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

 

 

Name :

Ms. Chitra Iyer

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS

 

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

 

 

Brand Names :

Not Available 

 

 

Agencies Held :

Not Available 

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • UAE
  • Africa
  • European Country

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Japan
  • China
  • Europe

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

 

PRODUCTION STATUS: Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

5000 (Approximately)

 

 

Bankers :

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

 

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

 

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

 

·         Union Bank of India

 

·         State Bank of Patiala

 

·         Citibank N.A.

 

·         ICICI Bank Limited

 

·         Axis Bank Limited

 

·         HDFC Bank Limited

 

 

Facilities :

 

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from The Zoroastrain co-operative Bank Limited

101.100

0.000

Term Loan from Housing Development  Finance corporation Limited (HDFC) 

7.500

11.300

SHORT TERM BORROWINGS

 

 

Working Capital Facilities from banks

3032.400

2137.500

Export Credit from Export – Import Bank of India Under a revolving credit limit

2150.000

250.000

Total

 

5291.000

2398.800

 

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 a floating interest rate of 2% p.a. below Bank's Minimum Lending Rate (10.50% p.a. as at 31-03-2014) subject to a minimum of 9.00% p.a. and a maximum of 12.50% p.a., and is repayable in 19 quarterly installments (18 installments of Rs. 6.300 Million each and last installment of Rs. 6.600 Million starting from 30- 09-2014 and ending on 24-03-2019)

 

ii)     Term Loan from HDFC is secured by first equitable mortgage of specified immovable properties situated at Vikhroli, Mumbai. It carries a floating interest rate of HDFC-CPLR minus 4.75% p.a. (13.35% p.a. as at 31-03 2014), and is repayable in 36 monthly instalments of Rs. 0.300 Million each, ending on 31-03-2017

 

iii)    Term Loan from Central Bank of India was secured by way of hypothecation of specified machinery and equipment. It carried an interest rate of Base Rate plus 1.50% p.a. (11.75% p.a. as at 31-03-2013), and was repaid in 2 equal quarterly instalments of Rs. 50.000 Million each, on 29-04-2013 and 29-07-2013.

 

iv)    Term Loan from Corporation Bank was secured by first equitable mortgage of specified immovable properties situated at Vikhroli, Mumbai. It carried an interest rate of Base Rate plus 3.25% p.a. (13.35% p. a. as at 31-03-2013), and was repaid in one final instalment of Rs. 2.49 crore on 30-06-2013.

 

v)     Interest-free Loans under the Sales Tax Deferral Schemes of various State Governments are  payable in quarterly and annual instalments 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.

 

vii)   Current maturities of Long-term Borrowings are disclosed under the head "Other Current Liabilities" (Note 10)

 

SHORT TERM BORROWINGS

 

i)      Working Capital Facilities from Banks [including Nil due and payable in foreign currency (as at 31-3-2013: Rs. 661.400 Million)] 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.

 

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 10.10% p.a. (excluding interest subvention of 3%), and are payable/renewable after 180/360 days.

 

iii)    Deposits from Companies carry an interest rate of 9.50% p.a. payable monthly and quarterly, and have a maturity period of 3 months or 6 months from the respective dates of deposit; and include deposits from an associate Godrej Investments  Private Limited.: Rs. 364.000 Million (as at 31-3-2013: Nil)

 

iv)    Deposits from Shareholders have a maturity period of 3 months from the respective dates of deposit, and carry an interest rate of 9.75% p.a. payable at maturity.

 

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

 

vi)    Other Borrowings are Buyers Credit from Banks, due and payable in foreign currency, and carry interest rates ranging from 0.74% to 1.03% p.a.

 

 

 

 

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

 

 

Jointly-held Subsidiary (where the Company and its subsidiary Godrej Industries Limited (GIL) together hold more than

50% of the equity share capital):

Godrej Consumer Products Ltd. (GCPL)

 

 

 

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.

·         Godrej (Singapore) Pte. Limited

·         Veromatic International BV

·         Busbar Systems (India) Limited

·         Mercury Mfg. Company Limited (a subsidiary w.e.f. 1st October, 2013)

 

 

Subsidiaries of Godrej Industries Limited :

·         Godrej Agrovet Limited (GAVL)

·         Godrej Properties Limited [L74120MH1985PLC035308]

·         Ensemble Holdings and Finance Limited

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

·         Natures Basket Limited [U15310MH2008PLC182816]

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

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

 

 

Subsidiaries and Sub-subsidiaries of Godrej Industries Ltd. (GIL) :

 

a. 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)

 

b. Subsidiaries of Godrej Agrovet Limited:

·         Godrej Seeds and Genetics Limited

·         Godvet Agrochem Limited

 

c. Subsidiaries and Sub-sudsidiaries of Godrej Properties Limited:

·         Godrej Realty Private limited

·         Godrej Real Estate 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)

·         Godrej Redevelopers (Mumbai) Private Limited (a subsidiary of GPDPL)

·         Godrej Premium Builders Private Limited

·         Godrej Garden City Properties Private Limited

·         Wonder City Buildcon Private Limited

·         Godrej Green Homes Limited

 

 

Subsidiaries of GPL :
  • Godrej Household Products Lanka (Private) Limited
  • Godrej South Africa (Proprietary) Limited
  • Godrej Global Mid East Fze
  • Godrej Household Products (Bangladesh) Private Limited
  • Godrej UK Limited
  • Godrej Consumer Products (UK) Limited
  • Inecto Manufacturing Limited
  • Cosmetica Nacional
  • Plasticos Nacional
  • Kinky Group Pty Limited
  • Godrej Nigeria Limited
  • Indovest Capital Limited
  • PT Megasari Makmur
  • PT Intrasari Raya
  • PT Ekamas Sarijaya
  • PT Indomas Susemi Jaya
  • PT Sarico Indah
  • Panamar Procuccioness Srl
  • Argencos S.A.
  • Laboratoria Cuenca S.A.
  • Issue Group Uruguay S.A.
  • Deciral S.A.
  • Issue Group Brazil Limited
  • Consell S.A.
  • Subinite Pty Limited
  • Lorna Nigeria Limited
  • Weave IP Holding Mauritius Private Limited
  • Hair Trading (Offshore) S. A. L.
  • Weave Mozambique Limitada
  • Style Industries Limited
  • Sigma Hair Ind Limited
  • Godrej Consumer Products Mauritius Limited
  • Godrej Consumer Products Holding (Mauritius) Limited
  • Godrej Consumer Products Bangladesh Limited
  • Godrej Mauritius Africa Holdings Limited
  • Godrej Weave Holdings Limited
  • Godrej West Africa Holdings Limited
  • Godrej Consumer Investments (Chile) Spa
  • Godrej Holdings (Chile) Limitada
  • Godrej Kinky Holdings Limited
  • Godrej Netherlands BV
  • Godrej Consumer Investments Holding Limited
  • Godrej Consumer Products Dutch Cooperatief UA
  • Godrej Consumer Products (Netherlands) BV
  • Godrej Consumer Holdings (Netherlands) BV
  • Godrej Argentina Dutch Cooperatief UA
  • Godrej Netherlands Argentina Holding BV
  • Godrej Netherlands Argentina BV
  • DGH Mauritius Private Limited
  • Weave Business Holding Mauritius Private Limited
  • Weave Trading Mauritius Private Limited
  • DGH Phase Two Mauritius Private Limited
  • Godrej Tanzania Holdings Limited
  • DGH Tanzania Limited
  • Godrej East Africa Holdings Limited

 

 

Subsidiary of Godrej (Malaysia) Sdn. Bhd.:

·         G and B Enterprises (Mauritius) Pvt. Ltd. (incorporated in Mauritius) (ceased to be a subsidiary on 3rd July, 2014)

 

 

Subsidiaries of Godrej (Singapore) Pte. Limited :

·         JT Dragon Pte. Limtied (Incorporated in Singapore)

·         Godrej (Vietnam) Company Limited (Incorporated in Vietnam)

 

 

Subsidiaries of Veromatic International BV :

·         Veromatic Services BV (incorporated in the Netherlands)

·         Water Wonder Benelux BV (incorporated in the Netherlands)

 

 

Other Subsidiaries (where the Company owns directly and/or indirectly through one or more subsidiaries,

more than one-half of the equity share capital):

·         Godrej Consumer Products Limited (GCPL)

 

 

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

·         Geometric Ltd.

·         Godrej & Boyce Enterprises LLP

·         NG Enterprise LLP

·         RKN Enterprise LLP

 

 

Joint Venture Company :

·         Godrej Efacec Automation and Robotics Limited

 

 

Other Associates :

·         Godrej & 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  (application to Registrar of LLPs made on 25th February, 2014 for strike off)

·         Godrej Property Developers LLP

·         Sheetak Inc., USA

·         Future Factory LLP

·         Mosaic Landmarks LLP

·         Wonder Space Properties Pvt Ltd

·         Dream World Landmarks LLP (w.e.f 29th March, 2013)

·         Oxford Realty LLP (w.e.f 13th March, 2014)

·         SSPDL Green Acres LLP (w.e.f 27th March, 2014)

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,100,000

Equity Shares

Rs. 100/- each

Rs. 110.000 Million

900,000

Preference Shares

Rs. 100/- each

Rs. 90.000 Million

 

 

 

 

 

Total

 

Rs. 200.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

662,910

Equity Shares

Rs. 100/- each

Rs. 66.291 Million

 

 

 

 

 

The Company does not have any holding company.

Details of equity shareholders holding more than 5% shares in the Company are given below:

 

 

As at 31.03.2014

Number

% Holding

(i) Godrej Investments Private Limited - an investing associate

177,432

26.77%

(ii) Trustees, Pirojsha Godrej Foundation - a public charitable trust

157,500

23.76%

(iii) Mr. R.K. Naoroji

65,594

9.89%

(iv) Mr. N.B. Godrej

65,593

9.89%

(v) Ms. S.V. Crishna

35,333

5.33%

 

There has been no movement in the number of shares outstanding at the beginning and at the end of the reporting period, as well as the comparative previous period.

 

Terms/rights attached to equity shares: The Company has only one class of equity shares. Each holder of equity shares is entitled to one vote per share. Accordingly, all equity shares rank equally with regard to dividends and share in the Company's residual assets. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all preferential amounts, in proportion to the number of equity shares held.

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

66.300

66.300

66.291

(b) Reserves & Surplus

28468.500

26672.200

23162.820

(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)

28534.800

26738.500

23229.111

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4931.000

4374.400

2062.362

(b) Deferred tax liabilities (Net)

519.400

661.800

423.881

(c) Other long term liabilities

1416.800

1480.500

1367.046

(d) long-term provisions

418.200

429.800

409.374

Total Non-current Liabilities (3)

7285.400

6946.500

4262.663

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7142.700

5791.900

5115.791

(b) Trade payables

7800.400

7912.800

8340.922

(c) Other current liabilities

16423.300

13516.400

11539.803

(d) Short-term provisions

1493.600

1436.300

1313.436

Total Current Liabilities (4)

32860.000

28657.400

26309.952

 

 

 

 

TOTAL

68680.200

62342.400

53801.726

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

13379.600

12252.700

11205.890

(ii) Intangible Assets

93.500

20.500

20.595

(iii) Capital work-in-progress

2822.100

2255.300

929.628

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

6100.700

4830.700

4586.960

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1961.600

1264.300

1398.044

(e) Other Non-current assets

6410.700

9886.200

8252.062

Total Non-Current Assets

30768.200

30509.700

26393.179

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

25.000

25.000

(b) Inventories

14563.300

14583.800

10660.036

(c) Trade receivables

19888.800

13729.900

12845.492

(d) Cash and cash equivalents

391.000

339.400

336.261

(e) Short-term loans and advances

993.000

1495.300

2066.945

(f) Other current assets

2075.900

1659.300

1474.813

Total Current Assets

37912.000

31832.700

27408.547

 

 

 

 

TOTAL

68680.200

62342.400

53801.726

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from operations

73727.800

68093.333

62200.001

 

 

Other Income

1133.800

1052.131

968.508

 

 

TOTAL                                    

74861.600

69145.464

63168.509

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

28398.800

27342.205

23019.676

 

 

Purchases of stock-in-trade

17658.500

17066.526

14617.681

 

 

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

173.200

(2354.452)

1803.397

 

 

Employee benefit expense

8466.800

8434.851

7314.627

 

 

Other expenses

14546.600

13589.219

11436.084

 

 

TOTAL                                    

69243.900

64078.349

58191.465

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

5617.700

5067.115

4977.044

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

1148.400

1050.510

1059.231

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

4469.300

4016.605

3917.813

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

833.800

771.468

675.415

 

 

 

 

 

Add

EXCEPTIONAL ITEMS

849.400

1060.318

7559.992

 

 

 

 

 

 

PROFIT BEFORE TAX

4484.900

4305.455

10802.390

 

 

 

 

 

Less

TAX                                                                 

960.700

851.520

1255.330

 

 

 

 

 

 

PROFIT AFTER TAX

3524.200

3453.935

9547.060

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

19540.815

17624.695

10198.208

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

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

1060.600

1060.656

994.365

 

 

Interim Equity Dividend :700%

464.000

0.000

0.000

 

 

Corporate Dividend Tax (Net)

203.300

127.104

108.157

 

 

Transfer to General Reserve

360.000

350.055

1018.051

 

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

20977.115

 

19540.815

17624.695

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of Goods on FOB basis

4615.400

3907.586

2991.554

 

 

Commission

2.100

0.000

0.000

 

 

Others

0.300

0.000

0.000

 

 

Dividend

1.100

1.076

0.903

 

 

Freight recovered

101.100

104.284

92.699

 

TOTAL EARNINGS

4720.000

4012.946

3085.156

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

3788.600

3752.176

3223.630

 

 

Spare Parts and Components

189.900

226.528

68.892

 

 

Capital Goods

964.600

818.496

584.283

 

 

Finished Goods

4629.100

4550.197

4009.953

 

TOTAL IMPORTS

9572.200

9347.397

7886.758

 

 

 

 

 

 

Earnings Per Share (Rs.)

5316.00

5210.00

14402.00

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)
4.78
5.07

15.35

 

 
 
 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
7.62
7.44

8.00

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
6.53
5.69

22.37

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.16
0.16

0.47

 

 
 
 

 

Debt Equity Ratio

(Total Debt/Networth)

 
0.42
0.38

0.31

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.15
1.14

1.04

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

66.291

66.291

66.300

Reserves & Surplus

23162.820

26672.187

28468.500

Net worth

23229.111

26738.478

28534.800

 

 

 

 

long-term borrowings

2062.362

4374.387

4931.000

Short term borrowings

5115.791

5791.940

7142.700

Total borrowings

7178.153

10166.327

12073.700

Debt/Equity ratio

0.309

0.380

0.423

 

 

 

YEAR ON YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

62200.001

68093.333

73727.800

 

 

9.475

8.275

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

62200.001

68093.333

73727.800

Profit

9547.06

3453.935

3524.200

 

15.35%

5.07%

4.78%

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

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

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

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)

Yes

21]

Market information

--

22]

Litigations that the firm / promoter involved in

Yes

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

No

34]

External Agency Rating, if available

Yes

 

LITIGATION DETAILS:

 

 

 

 

Case Details

Bench:-Bombay

 

 

Presentation Date:-30/03/2015

Lodging No.:-

CPL/296/2015

Filing Date:-

30/03/2015

 

 

Petitioner:-

M/S. ADISA LOGISTICS PRIVATE LIMITED

Respondent:-

M/S. GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED CIN NO. U28993MH1932PLC001828

 

Petn.Adv.:-

GIRISH B KEDIA (12304)

 

District:-

MUMBAI

 

 

Bench:-

SINGLE

Status:-

Pre-Admission

Category:-

COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT

 

Last Date:-

09/04/2015

Stage:-

 

Last Coram:-

REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

 

 

Act :-

Companies Act & Rules 1956

Under Section:-

433, 434 439

 

 

 

INDEX OF CHARGES

 

S.  No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10506229

20/03/2014

120,000,000.00

The Zoroastrian Cooperative Bank Ltd.

MAHIM BRANCH, DELTA APARTMENTS, GROUND FLOOR, SONAWALLA AGIARY LANE, OFF M. CHHOTANI MARG, MAHIM, MUMBAI, Maharashtra - 400016, INDIA

C09418195

2

10363787

27/06/2012

85,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

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

B42926675

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, Maharashtra - 400005, 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, Maharashtra - 400023, INDIA

-

6

80026323

14/10/2005

940,000,000.00

Central Bank of India

Chandarmukhi , Nariman Point, Mumbai, Maharashtra 
- 400021, INDIA

-

7

90236366

22/07/2005 *

40,000,000.00

UTI BANK LTD

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

-

8

90236303

18/09/2014 *

16,100,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH, CENTRAL BANK BLDG., IST 
FLOOR, FORT, MUMBAI, Maharashtra - 400001, INDIA

C24844292

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, 
Maharashtra - 400005, INDIA

-

* Date of charge modification

 

 

UNSECURED LOANS

 

UNSECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Interest-free Loan under the sales Tax Deferral Schemes of various State Governments

542.600

570.500

Fixed Deposits

4279.800

3792.600

SHORT TERM BORROWINGS

 

 

Deposits from Companies

367.800

3.300

Deposits from shareholders

1227.000

1868.500

Others Borrowing

365.500

1532.600

Total

 

6782.700

7767.500

 

 

CONTINGENT LIABILITIES

 

a)     Guarantees given by the Company’s Bankers against counter-guarantees given by the Company: Rs. 917.54 crore (as at 31-03-2013: Rs. 8084.400 Million).

 

b)    Guarantees given by the Company’s Bankers on behalf of subsidiary/associate companies against counter- guarantees given by the Company: Rs. 14.700 Millio0ns (as at 31-03-2013: Rs. 45.900 Million); Guarantee given by the Company to a Banker on behalf of a subsidiary company: Rs. 360.000 Million (as at 31-3-2013: Rs. 160.000 Million).

 

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. 398.800 Million (as at 31-03-2013: Rs. 512.600 Million).

 

d)    Excise Duty/Service Tax/Sales Tax/Property Tax demands in dispute and pending at various stages of appeal: Rs. 1082.600 (as at 31-3-2013: Rs. 1175.500 Million).

 

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. 5.800 Million (as at 31-3-2013: Rs. 5.800 Million). 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.

 

Note: Future cash outflows in respect of items (d) to (g) above are determinable only on receipt of judgements /decisions pending with various forums/authorities.

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

·         Trade marks

·         Technical Know-how

 

 

PRESS RELEASES

 

GODREJ AND BOYCE MULLS MOVING PLANTS FROM VIKHROLI TO CUT COST

 

August 28, 2013

 

NEW DELHI: 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, and 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 Million 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.



GOAL, AVARSALA AND GODREJ & BOYCE DEVELOPING PARTS WORTH RS 7000.000 MILLION FOR WORLD'S LARGEST TELESCOPE

 


Aug 2, 2013

 

BANGALORE: When S Murali heard about the $1.2-billion Thirty Meter Telescope (TMT), he immediately saw it as a big opportunity. Murali heads General Optics Asia Ltd (GOAL), a Pondicherry-based niche firm that makes strategic components for space and defence. But he could not make headway on his own as the TMT contracts were being awarded only to countries in a consortium.

 

Help came his way last week as India signed up as a partner with a 10% stake - worth at least Rs. 10000.000 Million - in the project. Now, three Indian companies - GOAL, Bangalore-based Avasarala, and Godrej and Boyce - will develop and manufacture Rs. 7000.000 Million worth of components for the telescope, government officials said.

 

The Rs. 2100.000 Million Avasarala had earlier worked on the Large Hadron Collider for developing support for the large magnets underground. Both Avasarala and Godrej and Boyce have previously worked on sensitive defence and space projects.

 

These companies are set to make some critical components for the Hawaii-based telescope, one of the most ambitious projects undertaken so far in astronomy, involving the development of technologies that do not exist yet.

 

Participating in the project will help Indian companies to get an early start in a highly sophisticated and strategic area. "This will help us develop mirror technologies that will be available to only a few in the world," says Murali.

 

The other partners are the US, Japan, China and Canada.

 

The Thirty Meter Telescope is three times as big as any optical telescope built so far, and is the most expensive among a series of extremely large telescopes being planned around the world now. It will be able to picture the edges of the known universe, look closely at objects that cannot be seen now, image planets in other stars, and do several other things not possible so far. It is expected to bring a big shift in our understanding of the universe.

The Indian government will invest the Rs. 10000.000 Million through the creation of an agency called TMT India. This institution will pay the private companies - in rupees - for their work.

 

The parts made by them will be shipped to TMT in Pasadena and later make their way to Hawaii, where the telescope is being built.

 

Building the Thirty Meter Telescope is not an easy job. First of all, making a single mirror with a 30-metre diameter is difficult. So the mirror is broken into components, 492 of them in all, that are assembled to a precision of a few billionths of a metre.

 

Each piece of mirror has sensors behind it to detect movement and actuators — a machine that can move something automatically — that can shift the mirrors to an accuracy of a few billionth of a metre.

 

India will make 100 of these mirrors, and the accompanying sensors and actuators. These parts are fixed on what is known as a Structure Support Assembly (SSA); the Indian companies will make it too. To manufacture 100 mirrors in time, one needs to be able to make one piece every week. Apart from GOAL, India has no expertise in optics.

 

Even GOAL has not worked in telescopes of this kind as India's largest is only two metres in diameter. So India is stuck with first-generation telescopes while current state-of-the-art ones belong to the fourth generation. "Only a few countries can do mirrors," says Eswar Reddy, associate professor of the Indian Institute of Astrophysics, who is coordinating the project from India. "This project can make India big in optics."

 

The applications of such technology are not restricted to telescopes as the mirrors will be used in satellites, future fusion reactors and medical imaging. GOAL will also make what are known as edge sensors, which provide information about the height and tilt of the mirrors. Godrej and Boyce and Avasarala will make the Structure Support Assembly for all the mirrors. SSAs require precision engineering, and the ability to use certain steel and aluminium alloys.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

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

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.33

UK Pound

1

Rs. 96.52

Euro

1

 Rs. 68.93

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TRU

 

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

--PROFITABILITY

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

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.