MIRA INFORM REPORT

 

 

Report No. :

354580

Report Date :

11.12.2015

 

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) :

31.03.2015

 

 

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.:

0388021713

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMG06742B / MUMG05774G

 

 

PAN No.:

[Permanent Account No.]

AAACG1395D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in offering consumer, office and industrial products and services. It operates in appliances, construction, furniture, locks, precision engineering, process equipment, storage solutions, vending, lawkim motors, material handling, tooling, electrical and electronics, precision systems and security division. (From Indirect Sources)

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (75)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 189000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was established in the year 1897 and it has diversified product profile with operations across India. Its main production facilities are at Vikhroli in Mumbai, which houses manufacturing units for both consumer and industrial product segments. It manufactures refrigerators, air conditioners, and washing machines at Shirwal (Pune [Maharashtra]) and Mohali (Punjab). It has furniture plants at Bhagwanpur and Haridwar (Uttarakhand) and Shirwal (Pune), and a storage systems plant in Chennai.

 

For the financial year ended 2014-15, the company has reported a profit after tax of Rs.5.1 billion (Rs.3.5 billion for the previous year) on an operating income of Rs.84.2 billion (Rs.75.6 billion).

 

The company has been in the consumer durables segment for nearly 100 years and enjoys a strong brand image and recall with its customers. Besides, it has a diversified revenue profile, including income from consumer products (72 per cent of net sales) and industrial products (23 per cent).

 

The company financial profile is marked by a comfortable capital structure with a large net worth, and strong debt protection metrics. Despite the company's working-capital-intensive operations, its debt protection metrics remain strong, with healthy net cash accruals.

 

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.

 

However, rating strength is partially offset by exposure to competitive pressures in the consumer durables industry, underperformance of its industrial products division due to subdued macroeconomic sentiment, and its high fixed-cost structure.

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

Long term rating = AA-

Rating Explanation

High degree of safety and very low credit risk.

Date

August 21, 2015

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

August 21, 2015

 

 

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 31-03-2015.

 

INFORMATION DENIED BY

 

Name :

Mr. Purvez Gandhi

Designation :

Chief Financial Officer

Contact No.:

91-22-67961300

Date :

10.12.2015

 

 

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 Office:

Plot No A-40, Phase VIII-A, Industrial Area, Mohali – 160059, Punjab, 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 31.03.2015

 

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 :

01.04.2014

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 :

01.04.2014

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 :

15.09.2014

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 :

01.04.2014

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 :

01.04.2014

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 :

15.09.2014

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 :

15.09.2014

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 :

01.04.2014

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 :

15.09.2014

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 :

Mr. Purvez Gandhi

Designation :

Chief Financial Officer

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2015

 

Names of Shareholders

 

No. of Shares

Adi Barjorji Godrej

 

32240

Nisaba Adi Godrej and Adi Barjorji Godrej

 

9609

Nisaba Adi Godrej, Parmeshar Adi Godrej, Adi Barjorji Godrej

 

07

Pirojsha Adi Godrej, Adi Barjorji Godrej

 

9616

Tanya Arvind Dubash and Adi Barjorji Godrej

 

9609

Tanya Arvind Dubash and Parmeshar Adi Godrej

 

07

Parmeshar Adi Godrej and Adi Barjorji Godrej

 

4506

Jamshyd Naoroji Godrej

 

32717

Jamshyd Naoroji Godrej, Pheroza Jamshyd Godrej and Navroze Jamshyd Godrej (Trustees, The Raika Godrej Family Trust)

 

16421

Navroze Jamshyd Godrej and Jamshyd Naoroji Godrej

 

16412

Navroze Jamshyd Godrej, Pheroza Jamshyd Godrej and Jamshyd Naoroji Godrej

 

10

Pheroza Jamshyd Godrej and Jamshyd Naoroji Godrej

 

33

Nadir Barjorji Godrej

 

65540

Nadir Barjorji Godrej and Rati Nadir Godrej

 

53

Smita Godrej Crishna

 

35313

Smita Godrej Crishna and Vijay Mohan Crishna

 

20

Rishand Kaikhushru Naoroji and Nadir Jamshyd Naoroji Godrej

 

5889

Rishand Kaikhushru Naoroji and Jamshyd Naoroji Godrej

 

2360

Rishand Kaikhushru Naoroji and Nadir Barjorji Godrej

 

6636

Rishand Kaikhushru Naoroji and Jamshyd Naoroji Godrej

 

14025

Rishand Kaikhushru Naoroji and Jamshyd Naoroji Godrej and Adi Barjorji Godrej

 

54

Rishand Kaikhushru Naoroji and Smita Godrej Crishna

 

16385

Rishand Kaikhushru Naoroji and Adi Barjorji Godrej

 

16385

Rishand Kaikhushru Naoroji and Nadir Barjorji Godrej

 

3860

Freyan Crishna Bieri, Smita Godrej Crishna

 

15113

Freyan Crishna Bieri, Smita Godrej Crishna and Vijay Mohan Crishna

 

10

Nyrika Vijay Crishna, Smita Godrej Crishna

 

15114

Nyrika Vijay Crishna, Smita Godrej Crishna and Vijay Mohan Crishna

 

10

Viajy Mohan Crishna and Smita Godrej Crishna

 

13

Godrej Investment Private Limited

 

177432

Surveyors and Company Private Limited

 

11

Pirojsha Godrej Foundation (a Public Charitable Trust)

 

Name of Trustee :

  • A.F. Golwalla
  • H.P. Daruwalla
  • P.D. Lam

 

157500

Total

 

662910

 

As on 15.09.2014

 

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 :

Subject is engaged in offering consumer, office and industrial products and services. It operates in appliances, construction, furniture, locks, precision engineering, process equipment, storage solutions, vending, lawkim motors, material handling, tooling, electrical and electronics, precision systems and security division. (From Indirect Sources)

 

 

Products/ Services :

ITC Code No.

Product Descriptions

99999999

Consumer Durables, Industrial Products and Others

 

 

Brand Names :

Not Available 

 

 

Agencies Held :

Not Available 

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

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 :

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 :

Information declined by the management.

 

 

Bankers :

Banker Name

Export-Import Bank of India

Branch Address

Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Central Bank of India, Corporate Finance Branch, Central Bank of India Building, 1st Floor, M.G. Road, Mumbai - 400023, Maharashtra, India
  • Union Bank of India
  • State Bank of Patiala
  • Citi Bank N.A.
  • ICICI Bank Limited
  • Axis Bank Limited
  • HDFC Bank Limited

 

 

Facilities :

 

SECURED LOANS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from The Zoroastrian co-operative Bank Limited

75.900

101.100

Term Loan from Housing Development  Finance corporation Limited (HDFC) 

3.700

7.500

SHORT TERM BORROWINGS

 

 

Working Capital Facilities from banks

4190.200

3032.400

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

3160.000

2150.000

Total

7429.800

5291.000

 

Note:

 

LONG-TERM BORROWINGS

 

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 10.50% p.a. (10.50% p.a. as at 31-03-2014), which is 2% p.a. below Bank's Minimum Lending Rate of 12.50% p.a., subject to a minimum of 9.00% p.a. and a maximum of 12.50% p.a., and is repayable in 16 quarterly installments (15 installments of Rs. 6.300 Million each and last installment of Rs. 6.600 Million starting from 30-06-2015 and ending on 24-03-2019)

 

Term Loan from HDFC Limited is secured by first equitable mortgage of specified immovable properties situated at Vikhroli, Mumbai. It carries a floating interest rate of 13.10% p.a. (13.35% p.a. as at 31-03-2014), which is 4.75% p.a. below HDFC-CPLR of 17.85% p.a. and is repayable in 24 monthly instalments of Rs. 0.300 Million each, ending on 31/03/2017

 

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.

 

Fixed Deposits from employees and public carry interest rates ranging from 9.50% 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

 

Working Capital Facilities from Banks [including Rs. 504.700 Million due and payable in foreign currency (as at 31-3-2014: Rs. Nil)] are secured by a first pari passu charge by way of hypothecation of inventories and book debts. They carry interest rates ranging from 10.75% p.a. to 12% p.a. and are generally renewable each year; foreign currency borrowings carry lower interest rates of around 0.75% p.a.

 

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. and are payable/renewable after 180/360 days.

 

Deposits/Short-term Loans from Companies carry an interest rate of 9.50% p.a. to 10.70% 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 Pvt. Ltd.: Rs. 445.900 Million (as at 31-3-2014: Rs.364.000 Million)

 

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.

 

In respect of Negotiable Commercial Paper, the maximum balance outstanding during the year was Rs. 3250.000 Million (Previous Year: Rs. 2500.000 Million).

 

Short-term Loans from Banks carry an interest rate of 10.40% to 10.70% p.a. and are payable/renewable after 15/90 days.

 

Other Borrowings are Buyers Credit from Banks, due and payable in foreign currency, and carry interest rates ranging from 0.73% to 0.92% 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 Ltd together hold more than one-half of the equity share capital):

Godrej Consumer Products Limited (GCPL)

 

 

 

Subsidiaries (with the Company's direct equity holdings in excess of 50%):
  • Godrej Industries Limited
  • Godrej Infotech Limited
  • Wadala Commodities Limited (merged with Godrej Industries Limited w.e.f. 21st November, 2014)
  • Godrej (Malaysia) Sdn. Bhd. (incorporated in Malaysia)
  • Godrej (Singapore) Pte. Limited (incorporated in Singapore)
  • Veromatic International BV (incorporated in the Netherlands)
  • Busbar Systems (India) Limited
  • Mercury Mfg. Co. Limited (a subsidiary w.e.f. 1st October, 2013)
  • East View Estates Private Limited (a wholly-owned subsidiary w.e.f. 31st March, 2015)
  • First Rock Infrastructure Private Limited (a wholly-owned subsidiary w.e.f. 31st March, 2015)
  • Miracletouch Developers Private Limited (a wholly-owned subsidiary w.e.f. 31st March, 2015)
  • Godrej Americas Inc. (a wholly-owned subsidiary incorporated in the USA on 1st April, 2014)

 

 

Subsidiaries of Godrej Industries Ltd.:
  • Godrej Agrovet Limited (GAVL)
  • Godrej Properties Limited (GPL)
  • Ensemble Holdings and Finance Limited
  • Godrej International Limited (incorporated in the Isle of Man)
  • Natures Basket Limited
  • Godrej International Trading and Investments Pte Limited (Incorporated in Singapore)
  • Swadeshi Detergents Limited (merged into Godrej Industries Limited w.e.f. 6th September, 2013)
  • Godrej International Limited (a subsidiary incorporated in Labuan, Malaysia on 12th February, 2015)

 

 

Subsidiaries of Godrej Infotech Ltd.:
  • Godrej Infotech Americas Inc. (a wholly-owned subsidiary incorporated in the USA on 28th February, 2014)
  • Godrej Infotech (Singapore) Pte. Limited (a wholly-owned subsidiary incorporated in Singapore on 27th May, 2014)
  • LVD Godrej Infotech NV (incorporated in Belgium on 18th December, 2009 and a subsidiary w.e.f 22nd October, 2014)

 

 

Subsidiaries of GAVL:
  • Godrej Seeds and Genetics Limited
  • Godvet Agrochem Limited (a subsidiary of GAVL incorporated on 22nd January, 2014)
  • Goldmuhor Agrochem and Feeds Limited (merged with GAVL w.e.f. 12th December, 2013)
  • Golden Feed Products Limited (merged with GAVL w.e.f. 9th May, 2014)

 

 

Subsidiaries of GPL:
  • Godrej Realty Private Limited
  • Godrej Waterside Properties Private. Limited (merged with Godrej Properties Limited w.e.f. 29th April, 2013)
  • Godrej Real Estate Private Limited
  • Godrej Sea View Properties Limited (GSVPL) (merged with GPL w.e.f. 30th April, 2014)
  • Godrej Estate Developers Limited (a subsidiary of GSVPL w.e.f. 11th November, 2013 and merged with GSVPL w.e.f.
  • 12th April, 2014)
  • Happy Highrises Limited
  • Godrej Buildwell Private Limited
  • Godrej Buildcon Private Limited
  • Godrej Projects Development Private Limited (GPDPL)
  • Godrej Developers Private Limited (a subsidiary of GPDPL w.e.f. 6th December, 2013 and merged into GPDPL w.e.f.
  • 30th April, 2014)
  • Godrej Redevelopers (Mumbai) Private Limited (a subsidiary of GPDPL w.e.f. 8th February, 2013)
  • Godrej Premium Builders Private Limited
  • Godrej Garden City Properties Private Limited
  • Godrej Nandhi Hills Project Private Limited (merged with GPL w.e.f 30th April, 2014)
  • Godrej Landmark Redevelopers Private Limited
  • Godrej Green Homes Limited ( a subsidiary incorporated on 24th December, 2013)
  • Godrej Home Developers Private Limited (a subsidiary incorporated on 30th March, 2015)
  • Godrej Hillside Properties Private Limited (a subsidiary incorporated on 31st March, 2015)

 

 

Subsidiary of Godrej (Malaysia) Sdn. Bhd.:
  • G&B Enterprises (Mauritius) Private Limited (incorporated in Mauritius) (merged with the Company w.e.f. 3rd July, 2014.)

 

 

Subsidiaries of Godrej (Singapore) Pte. Ltd.:
  • JT Dragon Pte. Limitd (Incorporated in Singapore)
  • Godrej (Vietnam) Co. Limited (Incorporated in Vietnam)

 

 

Subsidiaries of Veromatic International BV:
  • Veromatic Services BV (incorporated in the Netherlands)
  • Prowama Trading BV (incorporated in the Netherlands) (formerly, Water Wonder Benelux BV)

 

 

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)

 

 

 

Subsidiaries and Sub-subsidiaries of GCPL:
  • Godrej South Africa (Proprietary) Limited (formerly, Rapidol (Pty) Limited) (incorporated in South Africa)
  • Godrej Netherlands BV (incorporated in the Netherlands)
  • Godrej UK Limited (a subsidiary of Godrej Netherlands BV)
  • Godrej Global Mid East FZE (incorporated in Sharjah, U.A.E.) (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)
  • Godrej Consumer Products Mauritius Limited
  • Godrej Hygiene Products Limited (merged with GCPL w.e.f 1st April, 2013)
  • Godrej Consumer Products Holding (Mauritius) Limited (incorporated in Mauritius)
  • Godrej Household Products Lanka (Private) Limited (incorporated in Sri Lanka)
  • Godrej Household Products (Bangladesh) Private Limited (incorporated in Bangladesh)
  • Godrej Consumer Products Bangladesh Limited (incorporated in Bangladesh)
  • Godrej Mauritius Africa Holdings Limited (incorporated in Mauritius)
  • Godrej Weave Holdings Limited (incorporated in Mauritius)(a subsidiary of Godrej Africa Holdings Limited)
  • (merged with Godrej Africa Holdings Limited w.e.f 31st March, 2015)
  • Godrej West Africa Holdings Limited (incorporated in Mauritius on 11th February, 2014) (a subsidiary of DGH Mauritius Private Limited)
  • Godrej Consumer Products Holdings (UK) Limited (incorporated in the United Kingdom) (formerly Godrej Consumer Products (UK) Limited and name changed w.e.f. 5th July, 2013) (a subsidiary of Godrej UK Limited)
  • Godrej Consumer Products (UK) Limited (name changed from Keyline Brands Limited w.e.f. 5th July, 2013) (a subsidiary of Godrej Consumer Products Holdings (UK) Limited)
  • Inecto Manufacturing Limited (a subsidiary of Godrej Consumer Products (UK) Limited)
  • Godrej Consumer Investments (Chile) Spa, (incorporated in Chile) (a subsidiary of Godrej Netherlands BV)
  • Godrej Holdings (Chile) Limitada, (incorporated in Chile) (a subsidiary of Godrej Consumer Investments (Chile) Spa)
  • Cosmetica Nacional, (incorporated in Chile) (a subsidiary of Godrej Holdings (Chile) Limitada)
  • Plasticos Nacional, (incorporated in Chile) (a subsidiary of Cosmetica Nacional)
  • Godrej Kinky Holdings Limited (a subsidiary of Godrej Consumer Products Mauritius Limited)
  • Kinky Group Pty Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Godrej Nigeria Limited (incorporated in Nigeria) (a subsidiary of Godrej Consumer Products Mauritius Limited)
  • Godrej Consumer Investments Holding Limited (incorporated in Mauritius on 8th October, 2013) ( a subsidiary of
  • Godrej Consumer Products Mauritius Limited) (merged with Godrej Africa Holdings Limited w.e.f. 31st March, 2015)
  • Indovest Capital Limited (incorporated in Malaysia) (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)
  • Godrej Consumer Products Dutch Cooperatief UA, (incorporated in the Netherlands) (a subsidiary of Godrej
  • Consumer Products Holding (Mauritius) Limited)
  • Godrej Consumer Products (Netherlands) BV (incorporated in the Netherlands) (a subsidiary of Godrej
  • Consumer Products Dutch Cooperatief UA)
  • Godrej Consumer Holdings (Netherlands) BV (incorporated in the Netherlands) (a subsidiary of Godrej
  • Consumer Products Dutch Cooperatief UA)
  • Godrej Indonesia Netherlands Holding BV (incorporated in the Netherlands) (a subsidiary of Godrej Consumer
  • Products Dutch Cooperatief UA) (merged with Godrej Consumer Holding (Netherlands)BV w.e.f 30th September, 2013)
  • PT Megasari Makmur (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Intrasari Raya (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Simba Indosnack Makmur (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV upto 21st March, 2013)
  • PT Ekamas Sarijaya (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Indomas Susemi Jaya (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Sarico Indah (incorporated in Indonesia) (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • Godrej Argentina Dutch Cooperatief UA (incorporated in Netherlands) (a subsidiary of Godrej Consumer
  • Products Mauritius Limited)
  • Godrej Netherlands Argentina Holding BV. (incorporated in Netherlands) (a subsidiary of Godrej Argentina Dutch Cooperatief UA)
  • Godrej Netherlands Argentina BV (incorporated in the Netherlands) (a subsidiary of Godrej Argentina Dutch
  • Cooperatief UA)
  • Panamar Procuccioness S.A. (incorporated in Argentina) (a subsidiary of Godrej Netherlands Argentina BV)
  • Argencos S.A. (incorporated in Argentina) (a subsidiary of Godrej Netherlands Argentina BV)
  • Laboratoria Cuenca S.A. (incorporated in Argentina) (a subsidiary of Godrej Netherlands Argentina BV)
  • Issue Group Uruguay S.A. (incorporated in Uruguay) (a subsidiary of Laboratoria Cuenca S.A.)
  • Frika Weave Pty. Limited (incorporated in South Africa) (a subsidiary of Godrej Mauritius Africa Holdings Limited
  • w.e.f. 1st March, 2015)
  • Deciral S.A. (incorporated in Uruguay) (a subsidiary of Laboratoria Cuenca S.A.)
  • Issue Group Brazil Limited (incorporated in Brazil) (a subsidiary of Godrej Netherlands Argentina BV)
  • Consell S.A . (incorporated in Argentina) (a subsidiary of Laboratoria Cuenca S.A.)
  • Godrej Consumer Products Nepal Private. Limited
  • Subinite Pty Limited (incorporated in South Africa) (a subsidiary of Godrej West Africa Holdings Limited)
  • Lorna Nigeria Limited (incorporated in Nigeria) (a subsidiary of Weave Business Holding Mauritius Private. Limited)
  • Weave IP Holding Mauritius Private. Limited (incorporated in Mauritius) (a subsidiary of Godrej West Africa Holdings Limited)
  • DGH Mauritius Private. Limited (incorporated in Mauritius) (a subsidiary of Godrej Weave Holdings Limited)
  • (merged with Godrej Africa Holdings Limited w.e.f. 31st March, 2015)
  • Weave Business Holding Mauritius Private Limited (incorporated in Mauritius) (a subsidiary of DGH Mauritius Private. Limited)
  • (merged with Godrej Africa Holdings Limited w.e.f. 31st March, 2015)
  • Weave Trading Mauritius Private. Limited (incorporated in Mauritius) (a subsidiary of Godrej Weave Holdings Limited)
  • Hair Trading (Offshore) S. A. L. (incorporated in Lebanon) (a subsidiary of Weave Trading Mauritius Private Limited)
  • Weave Mozambique Limitada (incorporated in Mozambique) (a subsidiary of Godrej West Africa Holdings Limited)
  • Godrej East Africa Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Consumer Products Limited)
  • Style Industries Limited (incorporated in Kenya) (a subsidiary of DGH Phase Two Mauritius Private. Limited)
  • DGH Phase Two Mauritius Private Limited (incorporated in Mauritius) (a subsidiary Godrej East Africa Holdings Limited)
  • Godrej Tanzania Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Consumer Products Limited)
  • DGH Tanzania Limited (incorporated in Tanzania) (a subsidiary of Godrej Tanzania Holdings Limited)
  • Sigma Hair Ind Limited (incorporated in Tanzania) (a subsidiary of DGH Tanzania Limited)
  • DGH Phase Three Mauritius Private. Limited (incorporated in Mauritius) ( a subsidiary of Weave Business Holding Mauritius
  • Private. Limited w.e.f 5th February, 2014 and merged with Godrej Africa Holdings Limited w.e.f. 31st March, 2015)
  • Weave Ghana Limited (incorporated in Ghana) (a subsidiary of Godrej Mauritius Africa Holdings Limited w.e.f. 1st October, 2014)
  • Godrej Easy IP Holding Limited (incorporated in Dubai) (a subsidiary of Godrej Consumer Products Mauritius Limited w.e.f. 16th October, 2014)
  • Darling Trading Company Mauritius Limited (incorporated in Mauritius) (a subsidiary of Godrej Mauritius Africa Holdings Limited w.e.f. 22nd January, 2015)
  • Godrej Africa Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Mauritius Africa Holdings Limited w.e.f. 19th January, 2015)
  • Godrej Indonesia IP Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Consumer Products
  • Holding (Mauritius) Limited w.e.f. 17th March, 2015)
  • Godrej Megasari Holdings Limited (incorporated in Mauritius) (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited w.e.f. 18th March, 2015)

 

 

Joint Ventures:
  • Godrej Efacec Automation and Robotics Limited
  • Godrej and Khimji (Middle East) LLC (incorporated in Oman) [a Joint Venture of Godrej (Singapore) Pte. Limited]

 

 

An Associate over which the Company's Chairman and Managing Director is able to exercise significant influence:

Geometric Limited

 

 

An investing Associate with a substantial interest in voting power:

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

 

 

Other Associates:
  • Godrej and Boyce Enterprises LLP
  • JNG Enterprise LLP
  • RKN Enterprise LLP
  • ABG Venture LLP
  • NBG Enterprise LLP
  • SVC Enterprise LLP
  • Godrej Vikhroli Properties LLP
  • Godrej Buildcorp LLP (name struck off from the Registrar of LLPs w.e.f 10th October, 2014)
  • Godrej Property Developers LLP
  • Mosaic Landmarks LLP
  • Wonder Space Properties Pvt Ltd
  • Wonder City Buildcon Private Limited
  • Dream World Landmarks LLP
  • Oxford Realty LLP (w.e.f 13th March, 2014)
  • SSPDL Green Acres LLP (w.e.f 27th March, 2014)
  • M S Ramaiah Ventures LLP ( w.e.f. 7th April, 2014)
  • Oasis Landmarks LLP (w.e.f. 25th August, 2014)
  • Godrej Housing Projects LLP (w.e.f. 22nd December, 2014)
  • Godrej Construction Projects LLP (w.e.f. 22nd December, 2014)
  • Amitis Developers LLP (w.e.f. 10th March, 2015)
  • Caroa Properties LLP (w.e.f. 17th April, 2014)
  • Crop Science Advisors LLP
  • Sheetak Inc., USA
  • Urban Electric Power LLC
  • Future Factory LLP
  • Anamudi Real Estates LLP

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1100000

Equity Shares

Rs. 100/- each

Rs. 110.000 Million

900000

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

 

 

 

 

662910

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 31.03.2015

Number

% Holding

(i) Godrej Investments Private Limited - an investing associate

177432

26.77%

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

157500

23.76%

(iii) Mr. R.K. Naoroji

65594

9.89%

(iv) Mr. N.B. Godrej

65593

9.89%

(v) Ms. S.V. Crishna

35333

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

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

66.300

66.300

66.300

(b) Reserves & Surplus

33715.100

28468.500

26672.200

(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)

33781.400

28534.800

26738.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3653.400

4951.000

4374.400

(b) Deferred tax liabilities (Net)

739.400

519.400

661.800

(c) Other long term liabilities

2106.900

1416.800

1480.500

(d) long-term provisions

519.400

418.200

429.800

Total Non-current Liabilities (3)

7019.100

7305.400

6946.500

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

14268.000

7142.700

5791.900

(b) Trade payables

8284.100

7800.400

7912.800

(c) Other current liabilities

16869.000

16403.300

13516.400

(d) Short-term provisions

1538.300

1493.600

1436.300

Total Current Liabilities (4)

40959.400

32840.000

28657.400

 

 

 

 

TOTAL

81759.900

68680.200

62342.400

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

16081.500

13379.600

12252.700

(ii) Intangible Assets

69.300

93.500

20.500

(iii) Capital work-in-progress

1622.900

2822.100

2255.300

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

10269.100

6100.700

4830.700

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1118.900

1961.600

1264.300

(e) Other Non-current assets

5575.500

6410.700

9886.200

Total Non-Current Assets

34737.200

30768.200

30509.700

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

25.000

(b) Inventories

19827.300

14563.300

14583.800

(c) Trade receivables

22638.000

19888.800

13729.900

(d) Cash and cash equivalents

554.500

391.000

339.400

(e) Short-term loans and advances

2114.000

993.000

1495.300

(f) Other current assets

1888.900

2075.900

1659.300

Total Current Assets

47022.700

37912.000

31832.700

 

 

 

 

TOTAL

81759.900

68680.200

62342.400

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

82693.900

74638.700

68093.333

 

Other Income

1626.000

1133.800

1052.131

 

TOTAL

84319.900

75772.500

69145.464

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

32692.200

27956.800

27342.205

 

Purchases of Stock-in-Trade

20050.000

17658.500

17066.526

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(2047.100)

173.200

-2354.452

 

Employees benefits expense

9829.300

8466.800

8434.851

 

Property Development and Construction Expenses

1127.700

1352.900

0.000 

 

Expenditure transferred to capital accounts

(422.300)

(491.300)

0.000 

 

Other expenses

17436.300

15037.900

13589.219

 

TOTAL

78666.100

70154.800

64078.349

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

5653.800

5617.700

5067.115

 

 

 

 

 

Less

FINANCIAL EXPENSES

1455.400

1148.400

1050.510

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

4198.400

4469.300

4016.605

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1659.000

833.800

771.468

 

 

 

 

 

 

EXCEPTIONAL ITEMS

(3132.100)

(849.400)

(1060.318)

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

5671.500

4484.900

4305.455

 

 

 

 

 

Less

TAX

554.100

960.700

851.520

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

5117.400

3524.200

3453.935

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

20977.100

19540.800

17624.695

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

First Interim Equity Dividend: 700%

464.000

464.000

 0.000

 

Second Interim Equity Dividend: 700%

464.000

0.000

 0.000

 

Proposed Final Equity Dividend: 1600%

1060.700

1060.600

1060.656

 

Dividend Distribution Tax (Net)

327.500

203.300

127.104

 

Transfer to General Reserve

520.000

360.000

350.055

 

Total

2836.200

2087.900

1537.815

 

 

 

 

 

 

Balance Carried to the B/S

23258.300

20977.100

19540.815

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export of Goods on FOB basis

4276.900

4615.400

3907.586

 

Commission

7.300

2.100

0.000

 

Dividend

1.100

1.100

0.000

 

Freight recovered

211.000

101.100

1.076

 

Others

0.000

0.300

104.284

 

TOTAL EARNINGS

4496.300

4720.000

4012.946

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

4413.700

3788.600

3752.176

 

Spare Parts and Components

553.500

189.900

226.528

 

Capital Goods

300.900

964.600

818.496

 

Finished Goods

5552.200

4629.100

4550.197

 

Others

0.600

0.000

0.000

 

TOTAL IMPORTS

10820.900

9572.200

9347.397

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

7719.600

5316.257

5210.262

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

2830.100

1043.900

529.460

Cash generated from operations

2127.300

1674.200

3609.600

Net Cash From/(Used In) Operating Activities

944.800

775.800

2920.300

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

6.19

4.72

5.07

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

6.84

7.53

7.44

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

8.12

7.51

7.79

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.16

0.16

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.61

0.46

0.40

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.15

1.11

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

66.300

66.300

66.300

Reserves & Surplus

26672.200

28468.500

33715.100

Net worth

26738.500

28534.800

33781.400

 

 

 

 

long-term borrowings

4374.400

4931.000

3653.400

Short term borrowings

5791.900

7142.700

14268.000

Current Maturities of Long Term Debt

529.460

1023.900

2830.100

Total borrowings

10695.760

13097.600

20751.500

Debt/Equity ratio

0.400

0.459

0.614

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

68093.333

74638.700

82693.900

 

 

9.612

10.792

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

68093.333

74638.700

82693.900

Profit

3453.935

3524.200

5117.400

 

5.07%

4.72%

6.19%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity-Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

---------------

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

Yes

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

---------------

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

---------------

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

Yes

33

Market information

---------------

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS:

 

 

 

 

 

 

 

 

LITIGATION DETAILS

Bench:- Bombay

 

Presentation Date: 30.03.2015

Lodging No. :

CPL/296/2015

Failing Date:-

30.03.2015

Reg. No.:-

CP/496/2015

Reg. Date:-

02.05.2015

Petitioner:-

ADISA LOGISTICS PRIVATE LIMITED

Respondent:-

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

Petn. Adv:-

GIRISH B KEDIA (I2304)

Resp. Adv.:

BACHUBHAI MUNIM AND COMPANY (I2257)

District:-

MUMBAI

Bench:-

SINGLE

Category:-

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

Status:-

Pre-Admission

Stage:-

FOR ADMISSION (ORIGINAL SIDE MATTERS)

Next Date :

01.04.2016

Coram:-

PROVISIONAL BOARD

Last Date:-

09.06.2015

Stage :- FOR ACCEPTANCE

Last Coram:-

COMPANY REGISTRAR

 

 

Act. :

Companies Act and 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 LIMITED

MAHIM BRANCH, DELTA APARTMENTS, GROUND FLOOR, SONAWALLA AGIARY LANE, OFF M. CHHOTANI MARG, MAHIM, MUMBAI - 400016, MAHARASHTRA, 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 - 400020, MAHARASHTRA, 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 - 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

18/09/2014 *

16,100,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH, CENTRAL BANK BUILDING, IST 
FLOOR, FORT, MUMBAI - 400001, MAHARASHTRA, 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 - 400005, 
MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

 

UNSECURED LOANS

 

UNSECURED LOANS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

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

519.900

542.600

Fixed Deposits

3053.900

4299.800

SHORT TERM BORROWINGS

 

 

Deposits from Companies

1948.400

367.800

Deposits from shareholders

371.500

1227.000

Short term loans from banks

2950.000

0.000

Others Borrowing

1647.900

365.500

Total

10491.600

6802.700

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

 

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. 66.75

UK Pound

1

Rs. 100.29

Euro

1

 Rs. 72.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

PNM / JYO

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILITY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

9

--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

 

75

 

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.