MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

508583

Report Date :

10.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

 

 

Registered Office :

Pirojsha Nagar, Vikhroli, Mumbai - 400079, Maharashtra

Tel. No.:

91-22-67965108

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

03.03.1932

 

 

Com. Reg. No.:

11-001828

 

 

Capital Investment / Paid-up Capital :

INR 67.800 Million

 

 

CIN No.:

[Company Identification No.]

U28993MH1932PLC001828

 

 

IEC No.:

[Import-Export Code No.]

0388021713

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACG1395D

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACG1395D1ZU

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :
  • Manufacture of furniture.

 

  • Manufacture of reinforced safes, vaults, strong room doors and other security equipment.

 

  • Manufacture of domestic electric appliances such as refrigerators, washing machines and air conditioners.

 

  • Estate leasing, Property Development and Ready – mix Concrete operations. (Registered Activity)

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A++

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Maximum Credit Limit :

USD 220000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was established in the year 1932 and has a 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 2017, the company has achieved 6.60% growth in its revenue as compared to previous year revenue but has reported a low profit margin of 0.25%.


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% of net sales) and industrial products (23%).


The sound financial profile of the company 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.

Payment seems to be regular.


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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Bank Facilities=AA

Rating Explanation

High degree of safety and very low credit risk.

Date

04.04.2018

 

Rating Agency Name

CRISIL

Rating

Short Term Bank Facilities=A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

04.04.2018

 

 

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 31-03-2018.

 

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 10.05.2018

 

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED BY

 

Name :

Mr. Thipphu

Designation :

Assistant General Manager

Contact No.:

91-9052229591

Date :

09.05.2018

 

Management non-cooperative (Tel No.: 91-22-67961300/ 67965106/ 67965656/ 67965959/ 67956108)

 

LOCATIONS

 

Registered Office/ Head Office/ Material Handling Division/ Electricals and Electronics Division/ PDS Department/ Factory 1 :

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

Tel. No.:

91-22-67961300/ 67965106/ 67965656/ 67965959/ 67956108

Mobile No.:

91-9052229591 (Mr. Thipphu M)

Fax No.:

91-22-67961518/ 67961509

E-Mail :

info@godrej.com

mumbaibr@godrej.com

kap@godrej.com

pef@godrej.com

bkk@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

 

 

Factory  3 :

No. 1, SIDCO Industrial Estate, Ambattur, Chennai - 600 098, Tamilnadu, India

 

 

Plant Lawkim :

Gat No. 431, Village Shindewadi, Taluka: Khandala, PO Shirwal, District: Satara - 412801, Maharashtra, India

 

 

Factory :

Also Located At :

 

  • Mohali, Punjab, India
  • Bhagwanpur, Uttarakhand, India
  • Haridwar, Uttarakhand, India
  • Chennai, Tamilnadu, India

 

 

Branch Office 1 :

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

 

 

Branch Office 2 :

Plot No. Z-90, Dahej Special Economic, Dahej, Bharuch - 392130, Gujarat, India

 

 

Branch Office 3 :

The Karnataka Film Chambers of Commerce Building, 2nd Floor, # 28, 1st Main High Grounds, Bangalore – 560001, Karnataka, India

 

 

Branch Offices :

Also Located at:

 

·         Ahmedabad

·         Kochi

·         Bangalore

·         Kolkata

·         Bhopal

·         Lucknow

·         Bhubaneswar

·         New Delhi

·         Mohali

·         Patna

·         Chennai

·         Pune

·         Raipur

·         Guwahati

·         Ranchi

·         Secunderabad

·         Haridwar

·         Jaipur

·         Visakhapatnam

 

 

Training Centers :

Also Located At :

 

  • Andhra Pradesh
  • Assam
  • Bihar
  • Chhattisgarh
  • Daman
  • Delhi
  • Goa
  • Gujarat
  • Haryana
  • Himachal Pradesh
  • Jharkhand
  • Karnataka
  • Kerala
  • Madhya Pradesh
  • Maharashtra
  • Orissa
  • Punjab
  • Rajasthan
  • Tamilnadu
  • Uttar Pradesh
  • Uttaranchal
  • West Bengal

 

 

DIRECTORS

 

AS ON 31.03.2017

 

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                                                                                                        

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

L15410MH1991PLC135359

GODREJ AGROVET LIMITED

24/08/1992

-

L24241MH1988PLC097781

GODREJ INDUSTRIES LIMITED

07/03/1988

-

L24246MH2000PLC129806

GODREJ CONSUMER PRODUCTS LIMITED

01/03/2001

-

L72200MH1994PLC077342

GEOMETRIC LIMITED

25/03/1994

-

L74120MH1985PLC035308

GODREJ PROPERTIES LIMITED

25/04/1990

-

U24211MH1987PLC043137

GODREJ HOUSEHOLD PRODUCTS LIMITED

08/08/1994

-

U29290MH1973GAP016420

INDIAN MACHINE TOOL MANUFACTURERS ASSOCIATION

29/08/2012

-

U65990MH1975PTC018480

GODREJ INVESTMENTS PRIVATE LIMITED

12/06/1984

-

U73100MH2011NPL220003

RAPTOR RESEARCH AND CONSERVATION FOUNDATION

21/07/2011

-

 

 

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

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L15410MH1991PLC135359

GODREJ AGROVET LIMITED

24/08/1992

-

L24241MH1988PLC097781

GODREJ INDUSTRIES LIMITED

03/01/1995

-

L31300MH1989PLC054356

PRECISION WIRES INDIA LIMITED

25/09/1992

-

U74999MH1960PLC011759

LAWKIM LIMITED

16/08/1997

-

U91110MH1992NPL068102

NAOROJI GODREJ CENTRE FOR PLANT RESEARCH

10/08/1992

-

 

 

Name :

Mr. Anil Gyanchandra 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

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U28990MH1996PLC104088

GODREJ CONSOVEYO LOGISTICS AUTOMATION LIMITED

08/08/2017

-

U32100MH1997PLC106135

GODREJ INFOTECH LIMITED

07/07/2014

-

 

 

Name :

Mr. Keki Manchersha Elavia

Designation :

Director

Address :

2A Anand Bhavan 36th Road, Bandra (West), Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

09.04.1946

Date of Appointment :

27.09.2012

Voter ID No.:

MT/08/036/0322815

DIN No.:

00003940

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L15412WB1918PLC002964

BRITANNIA INDUSTRIES LTD

07/08/2017

-

L17120MH1879PLC000037

THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

10/08/2017

-

L23109GA1967PLC000076

GOA CARBON LIMITED

22/01/2001

-

L24100MH1960PLC011681

DAI-ICHI KARKARIA LIMITED

21/07/2011

-

L24241MH1988PLC097781

GODREJ INDUSTRIES LIMITED

10/08/2013

-

L26593MH1950PLC008163

GRINDWELL NORTON LIMITED

24/07/2013

-

L63010MH2004PLC073508

ALLCARGO LOGISTICS LIMITED

29/09/2006

-

U24239MH1992PTC069533

ZEST PHARMACEUTICALS PVT LTD

18/04/2006

-

U63013DL2004PLC217305

GO AIRLINES (INDIA) LIMITED

12/09/2014

-

 

 

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

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

L15410MH1991PLC135359

GODREJ AGROVET LIMITED

25/11/1991

-

L24241MH1988PLC097781

GODREJ INDUSTRIES LIMITED

07/03/1988

-

L24246MH2000PLC129806

GODREJ CONSUMER PRODUCTS LIMITED

01/04/2010

-

U18101MH1977PTC181783

SARALEE HOUSEHOLD & BODYCARE INDIA PRIVATE LIMITED

02/07/2007

-

U24211MH1987PLC043137

GODREJ HOUSEHOLD PRODUCTS LIMITED

08/08/1994

-

U24243MH1974PLC017488

SWADESHI DETERGENTS LIMITED

31/12/1979

-

U51909MH2007PLC168675

GODREJ HYGIENE PRODUCTS LIMITED

13/03/2007

-

U65990MH1975PTC018480

GODREJ INVESTMENTS PRIVATE LIMITED

08/06/1984

-

U70102MH2015PLC266732

GIL VIKHROLI REAL ESTATE LIMITED

20/07/2015

-

 

 

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

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L15410MH1991PLC135359

GODREJ AGROVET LIMITED

24/08/1992

-

L24241MH1988PLC097781

GODREJ INDUSTRIES LIMITED

30/01/2002

-

U15201TG1986PLC006912

CREAMLINE DAIRY PRODUCTS LTD.

27/07/2017

-

U24243MH1974PLC017488

SWADESHI DETERGENTS LIMITED

29/09/1988

-

U70102MH2015PLC266732

GIL VIKHROLI REAL ESTATE LIMITED

04/12/2015

-

 

 

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

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L15410MH1991PLC135359

GODREJ AGROVET LIMITED

25/11/1991

-

L24241MH1988PLC097781

GODREJ INDUSTRIES LIMITED

01/04/2014

-

L24246MH2000PLC129806

GODREJ CONSUMER PRODUCTS LIMITED

29/11/2000

-

L65990MH1945PLC004558

MAHINDRA AND MAHINDRA LIMITED

28/08/1992

-

L74120MH1985PLC035308

GODREJ PROPERTIES LIMITED

25/04/1990

-

L74999MH1902PLC000183

THE INDIAN HOTELS COMPANY LIMITED

03/08/2009

-

L99999MH1994PLC076236

ASTEC LIFESCIENCES LIMITED

26/07/2016

-

U15122MH2006PLC163857

GODREJ OIL PALM LIMITED

16/06/2008

-

U15122MH2008PLC177741

GODREJ TYSON FOODS LIMITED

06/07/2009

-

U15142MH1996PLC224176

CAUVERY PALM OIL LIMITED

07/07/2008

-

 

 

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

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L24202MH1920PLC000825

KANSAI NEROLAC PAINTS LIMITED

30/01/2007

-

L24231MH1950PLC008311

PFIZER LIMITED

07/12/1999

-

L26593MH1950PLC008163

GRINDWELL NORTON LIMITED

06/03/2006

-

L29120MH1960PLC011635

K S B PUMPS LIMITED

07/04/2011

-

L33112MH1943FLC003972

BASF INDIA LIMITED

31/01/2000

-

L67200MH1937PLC002622

TATA INVESTMENT CORPORATION LIMITED

08/07/2009

-

L72200MH1994PLC082110

SONATA SOFTWARE LIMITED

14/07/1998

-

U28993MH1932PLC001828

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

10/08/2004

-

U40300GJ2012PTC072458

HELIOS GREENTECH PRIVATE LIMITED

26/10/2012

-

U51900MH1999PTC121703

AMBIT HOLDINGS PRIVATE LIMITED

28/08/2014

-

 

 

Name :

Ms. 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

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L65993TN2004PLC052856

RANE (MADRAS) LIMITED

18/07/2013

-

L72200MH1994PLC077342

GEOMETRIC LIMITED

27/03/2000

-

L72900MH2001PLC134244

3D PLM SOFTWARE SOLUTIONS LIMITED

15/07/2015

-

U28993MH1932PLC001828

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

10/09/2007

-

U52600MH2012PTC230136

FSN E-COMMERCE VENTURES PRIVATE LIMITED

08/08/2016

-

U65900PN1997PTC174673

WHEELSEMI PRIVATE LIMITED

07/09/2017

-

U65922GJ2009PLC083779

ADITYA BIRLA HOUSING FINANCE LIMITED

28/08/2015

-

U65990MH1988PLC048117

ADITYA BIRLA RETAIL LIMITED

25/09/2014

-

U65992UP2016PLC082804

UTKARSH SMALL FINANCE BANK LIMITED

24/08/2016

-

U65993MH1999PLC123191

IDFC ASSET MANAGEMENT COMPANY LIMITED

21/07/2016

-

 

 

Name :

Mr. Navroze Jamshyd Godrej

Designation :

Director

Address :

40-D, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Appointment :

24.11.2017

DIN No.:

03049821

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U70102MH2007PTC171810

MUKTESHWAR REALTY PRIVATE LIMITED

29/09/2015

-

 

 

Name :

Nyrika Holkar

Designation :

Additional Director

Address :

A261, Grand Paradi Apartment, Off August Kranti Marg, Mumbai – 400036, Maharashtra, India

Date of Appointment :

24.11.2017

DIN No.:

07040425

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U32100MH1997PLC106135

GODREJ INFOTECH LIMITED

30/09/2017

-

U63090MH2014PTC258741

UMOJA TRAVELS PRIVATE LIMITED

23/09/2016

-

U70102MH2007PTC171810

MUKTESHWAR REALTY PRIVATE LIMITED

29/09/2015

-

U73200MH1986NPL041521

CENTRE FOR ADVANCEMENT OF PHILANTHROPY.

01/09/2015

-

U85300TG2011NPL076679

JALDHAARA FOUNDATION

30/09/2016

-

 

 

KEY EXECUTIVES

 

Name :

Percy Erach Fouzdar

Designation :

Company 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 :

Purvez Kersi Gandhi

Designation :

Chief Financial Officer

Address :

M17, Godrej Baug, Off Napeansea Road, Mumbai – 400026, Maharashtra, India

Date of Appointment :

01.04.2014

PAN No.:

ACNPG1177D

 

 

Name :

Mr. Thipphu

Designation :

Assistant General Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 24.11.2017

 

Names of Shareholders

 

No. of Shares

Adi Barjorji Godrej

 

36746

Tanya Arvind Dubash

 

10652

Nisaba Adi Godrej

 

10653

Pirojsha Adi Godrej

 

10652

Nadir Burjorji Godrej

 

67193

Rishad Kaikhushru Naoroji

 

68699

Jamshyd Naoroji Godrej

 

50692

Navroze Jameshed Godrej

 

17978

Smita Godrej Crishna

 

35333

Freyan Crishna Bieri

 

16677

Nyrika Holkar

 

16678

Godrej Investments Private Limited

 

177432

Surveyors And Company Private Limited

 

11

Aspi Framroze Golwala

 

157500

Vijay Mohan Crishna

 

13

Pheroza Jamshyd Godrej

 

33

Sohrab Nadir Godrej

 

47

Burjis Nadir Godrej

 

1459

Total

 

678448

 

Equity Share Break up (Percentage of Total Equity)

 

As on 24.11.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family - Indian)

48.17288871

Promoters [Individual/Hindu Undivided Family - Non-resident Indian (NRI)]

2.45811028

Promoters (Body corporate)

26.15263071

Public/Other than promoters (Individual/Hindu Undivided Family - Indian)

23.21474896

Public/Other than promoters (Body corporate)

0.00162134

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Manufacture of furniture.

 

  • Manufacture of reinforced safes, vaults, strong room doors and other security equipment.

 

  • Manufacture of domestic electric appliances such as refrigerators, washing machines and air conditioners.

 

  • Estate leasing, Property Development and Ready – mix Concrete operations. (Registered Activity)

 

 

Products :

Item Code No.

Product Description

84182100

Refrigerator

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Central Bank of India

Branch

Corporate Finance Branch, Central Bank Building, 1st Floor, Mumbai – 400001, Maharashtra, India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

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

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Fully convertible debentures banks

11283.000

11285.800

Short-term borrowings

 

 

Working capital loans from banks

11833.000

12738.400

Total

23116.000

24024.200

 

Auditors :

 

Name :

Kalyaniwalla and Mistry

Chartered Accountants

Address :

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

PAN No.:

AAAFK7554R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

(i) Subsidiaries (including step-down subsidiaries):

A. Subsidiaries (with the Company's direct equity holdings in excess of 50%):
  • Godrej Infotech Limited
  • Godrej Industries Limited (ceased to be a subsidiary with effect from 30th March, 2017)
  • Godrej (Singapore) Pte. Limited (a wholly-owned subsidiary)
  • Veromatic International BV (a wholly-owned subsidiary)
  • Busbar Systems (India) Limited (a wholly-owned subsidiary) (amalgamated with the Company with effect from 1st April, 2016.)
  • Mercury Mfg. Company Limited (a wholly-owned subsidiary) (amalgamated with the Company with effect from 1st April, 2016.)
  • Godrej Americas Inc. (a wholly-owned subsidiary)
  • India Circus Retail Private Limited
  • Sheetak Inc.

 

 

B. Jointly-held subsidiaries (where the Company and its subsidiary Godrej Industries Limited together hold more than one-half of the equity share capital):
  • Godrej Consumer Products Limited (GCPL) (ceased to be a subsidiary with effect from 30th March, 2017)
  • Godrej One Premises Management Private Limited (ceased to be a subsidiary with effect from 30th March, 2017)

 

 

The following companies are step-down subsidiaries (where the Company's subsidiaries listed in A and B above, directly and/or indirectly through one or more subsidiaries, hold more than one-half of equity share capital):

 

 

(I) which remain subsidiaries as at 31.03.2017

C. Subsidiaries of Godrej Infotech Limited:
  • Godrej Infotech Americas Inc. (a wholly-owned subsidiary)
  • Godrej Infotech (Singapore) Pte. Limited (a wholly-owned subsidiary)
  • LVD Godrej Infotech NV

 

 

D. Subsidiaries of Godrej (Singapore) Pte. Limited:
  • JT Dragon Pte. Limited (Incorporated in Singapore)
  • Godrej (Vietnam) Company Limited (Incorporated in Vietnam) (a wholly owned subsidiary of JT Dragon Pte. Limited)

 

 

 

E. Joint Ventures:
  • Godrej Consoveyo Logistics Automation Limited (formerly Godrej Efacec Automation and Robotics Limited)
  • Godrej and Khimji (Middle East) LLC (incorporated in Sultanate of Oman) [a Joint Venture of Godrej (Singapore) Pte. Limited]
  • Godrej UEP (Singapore) Pte. Limited (Joint venture between Godrej (Singapore) Pte. Limited and Urban Electric Power Inc.)

 

 

(II) which have ceased to be subsidiaries as at 31.03.2017 F. Subsidiaries of Godrej Industries Ltd.: (ceased to be a subsidiary with effect from 30th March, 2017) :
  • 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)
  • Godrej International Limited (incorporated in Labuan, Malaysia)

 

 

G. Subsidiaries of GAVL: (ceased to be a subsidiary with effect from 27th March, 2017) :
  • Godvet Agrochem Limited
  • Astec LifeSciences Limited and its subsidiaries

-Behram Chemicals Private Limited

-Astec Europe Sprl

  • -Comercializadora Agricola Agroastrachem Cia Ltda
  • Creamline Dairy Products Limited and its subsidiary

-Nagavalli Milkline Private Limited

  • Godrej Seeds and Genetics Limited (upto 18th March, 2017)

 

 

H. Subsidiaries of GPL: (ceased to be a subsidiary with effect from 30th March, 2017; as GIL ceased to be a subsidiary on that date) :
  • Godrej Fund Management Pte Limited
  • Godrej Real Estate Private Limited
  • Godrej Buildcon Private Limited
  • Godrej Projects Development Private Limited (GPDPL)
  • City Star Infraprojects Limited (w.e.f. 12th January, 2017)
  • Godrej Garden City Properties Private Limited
  • Godrej Real View Developers Private Limited (w.e.f.1st September,2016 and upto 28th March, 2017)
  • Godrej Green Homes Limited
  • Godrej Home Developers Private Limited
  • Godrej Hillside Properties Private Limited
  • Godrej Prakriti Facilities Private Limited (a subsidiary of Happy Highrises Limitedw.e.f 9th June, 2015)
  • Godrej Investment Advisers Private Limited (a subsidiary w.e.f 29th October 2015)
  • Godrej Highrises Properties Private Limited (a subsidiary w.e.f 26th June, 2015)
  • Godrej Genesis Facilities Management Private Limited (a subsidiary of Happy Highrises Limited w.e.f 19th February, 2016)
  • Godrej Residency Private Limited (w.e.f. 16th March, 2017)
  • Godrej Skyline Developers Private Limited (w.e.f. 22nd November, 2016)
  • Godrej Vikhroli Properties India Limited (Godrej Vikhroli Properties LLP converted into a Public Limited Company)
  • Prakritiplaza Facilities Management Private Limited (w.e.f. 28th July, 2016)
  • Godrej Century LLP (w.e.f. 14th March, 2017)
  • Godrej Green Properties LLP (w.e.f. 27th October, 2016)
  • Godrej Highview LLP (w.e.f. 29th September, 2016)
  • Godrej Projects (Bluejay) LLP (w.e.f. 2nd March, 2017)
  • Godrej Projects (Pune) LLP (w.e.f. 5th February, 2017)
  • Godrej Projects (Soma) LLP (w.e.f. 6th March, 2017)
  • Godrej Skyview LLP (w.e.f. 19th October, 2016)
  • Godrej Land Developers LLP
  • Godrej Developers & Properties LLP
  • Godrej Highrises Realty LLP
  • Godrej Project Developers & Properties LLP
  • Godrej Greenview Housing Private Limited . (upto 29th June, 2016)
  • Wonder Projects Development Private Limited (w.e.f. 18th September, 2016)
  • Pearlite Real Properties Private Limited (w.e.f. 2nd September, 2016 and upto 29th March, 2017)

 

 

I. Subsidiaries and Sub-subsidiaries of GCPL: (ceased to be a subsidiary with effect from 30th March, 2017) :
  • Godrej South Africa (Proprietary) Limited [formerly, Rapidol (Pty) Limited]
  • Godrej Netherlands BV
  • Godrej UK Limited (a subsidiary of Godrej Netherlands BV)
  • Godrej Global Mid East FZE (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)
  • Godrej Consumer Products Mauritius Limited)
  • Godrej Consumer Products Holding (Mauritius) Limited
  • Godrej Household Products Lanka (Private.) Limited
  • Godrej Household Products Bangladesh Private. Limited
  • Godrej Consumer Products Bangladesh Limited
  • Godrej Mauritius Africa Holdings Limited
  • Godrej West Africa Holdings Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Godrej Consumer Products (UK) Limited (a subsidiary of Godrej UK Limited)
  • Godrej Consumer Investments (Chile) Spa, (a subsidiary of Godrej Netherlands BV)
  • Godrej Mideast Holdings Limited (a 100 % subsidiary of Godrej Indonesia IP Holdings Limited) (w.e.f. 28th July, 2015)
  • Godrej Holdings (Chile) Limitada, (a subsidiary of Godrej Consumer Investments (Chile) Spa)
  • Cosmetica Nacional, (a subsidiary of Godrej Holdings (Chile) Limitada)
  • Plasticos Nacional, (a subsidiary of Cosmetica Nacional)
  • Kinky Group (Proprietary) Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Godrej Nigeria Limited (a subsidiary of Godrej Consumer Products Mauritius Limited)
  • Indovest Capital Limited (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)
  • Godrej Consumer Products Dutch Cooperatief UA, (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)
  • Godrej Consumer Products (Netherlands) BV (a subsidiary of Godrej Consumer Products Dutch Cooperatief UA)
  • Godrej Consumer Holdings (Netherlands) BV (a subsidiary of Godrej Consumer Products Dutch Cooperatief UA)
  • PT Megasari Makmur (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Intrasari Raya (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Ekamas Sarijaya (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Indomas Susemi Jaya (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • PT Sarico Indah (a subsidiary of Godrej Consumer Holdings (Netherlands) BV)
  • Panamar Procuccioness S.A. (a subsidiary of Godrej Netherlands Argentina BV)
  • Argencos S.A. (a subsidiary of Godrej Netherlands Argentina BV)
  • Laboratoria Cuenca S.A. (a subsidiary of Godrej Netherlands Argentina BV)
  • Deciral S.A. (a subsidiary of Godrej Netherlands Argentina BV)
  • Consell S.A . (a subsidiary of Laboratoria Cuenca S.A.)
  • Subinite Pty Limited (a subsidiary of Godrej West Africa Holdings Limited)
  • Lorna Nigeria Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Weave IP Holding Mauritius Private. Limited (a subsidiary of Godrej West Africa Holdings Limited)
  • Weave Trading Mauritius Private. Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Hair Trading (Offshore) S. A. L. (a subsidiary of Weave Trading Mauritius Private Limited)
  • Weave Mozambique Limitada (a subsidiary of Godrej West Africa Holdings Limited)
  • Godrej East Africa Holdings Limited (a subsidiary of Godrej Consumer Products Limited)
  • Style Industries Limited (a subsidiary of DGH Phase Two Mauritius Private. Limited)
  • DGH Phase Two Mauritius (a subsidiary Godrej East Africa Holdings Limited)
  • Godrej Tanzania Holdings Limited (a subsidiary of Godrej Consumer Products Limited)
  • DGH Tanzania Limited (a subsidiary of Godrej Tanzania Holdings Limited)
  • Sigma Hair Ind Limited (a subsidiary of DGH Tanzania Limited
  • Weave Ghana Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited
  • Godrej Consumer Products US Holding Limited (w.e.f. 29th March, 2016)
  • Darling Trading Company Mauritius Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Godrej Africa Holdings Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Godrej Indonesia IP Holdings Limited (a subsidiary of Godrej Consumer Products Holding (Mauritius) Limited)
  • Frika Weave Pty Limited (a subsidiary of Godrej Mauritius Africa Holdings Limited)
  • Belaza Mozambiq LDA (w.e.f 30th April, 2015)
  • Charm Industries Limited (w.e.f. 14th August, 2015)
  • Canon Chemicals Limited
  • Godrej Hair Weave Nigeria Limited
  • Godrej International Trading Company (Sharjah)
  • DGH Angola (name changed from Godrej Megasari Holdings)
  • Godrej Hair Care Nigeria Limited (w.e.f 12th January, 2016)
  • Godrej Household Insecticide Nigeria Limited (w.e.f 12th January, 2016)
  • Hair Credentials Zambia Limited (w.e.f 23rd December 2015)
  • Godrej SON Holdings Inc. (w.e.f. 24th March, 2016)
  • Old Pro International Inc (USD)
  • Strength of Nature LLC (USA)
  • Strength of Nature South Africa Proprietary Limited
  • Style Industries Uganda Limited
  • Weave Senegal Limited
  • DGH Uganda
  • Godrej Consumer Products International FZCO

 

 

(ii) Associates over which the Company's Chairman and Managing Director is able to exercise significant influence:

Nil

 

 

(iii) An investing Associate with a substantial interest in voting power:

Godrej Investments Private Limited (holds 26.15% of the equity share capital of the Company) (amalgamated with the Company from the closing of business hours as on 29th March, 2017)

 

 

(Iv) Other Associates:

A. Associates of Godrej And Boyce Manufacturing Company Limited .:
  • Godrej and Boyce Enterprises LLP
  • JNG Enterprise LLP
  • RKN Enterprise LLP
  • ABG Venture LLP
  • NBG Enterprise LLP
  • Parazelsus Orient Ltd
  • Future Factory LLP]
  • Urban Electric Power Inc.
  • Proboscis Inc., USA

 

 

B. Entities Which Have Ceased To Be Associates :
  • Godrej Property Developers LLP
  • Mosaic Landmarks LLP
  • Dream World Landmarks LLP
  • Oxford Realty LLP
  • Godrej SSPDL Green Acres LLP
  • M S Ramaiah Ventures LLP
  • OasisLandmarks LLP
  • Godrej Housing Projects LLP
  • Godrej Construction Projects LLP
  • Amitis Developers LLP
  • Caroa Properties LLP
  • Crop Science Advisors LLP
  • Anamudi Real Estates LLP
  • AR Landcraft LLP
  • Bavdhan Rearlty @ Pune 21 LLP
  • Personalitree Academy Limited
  • Prakhyat Dewellers LLP
  • Wonder Space Properties Private Limited
  • Wonder City Buildcon Private Limited
  • Godrej Home Constructions Private Limited
  • Godrej Tyson Foods Limited (Joint Venture)
  • ACI Godrej Agrovet Private Limited, Bangladesh (Joint Venture)
  • Al Rahba International Trading LLC, UAE (Limited Liability Company in UAE)
  • Bhabani Blunt Hairdressing Private Limited

 

 

(vii) Post Employment Benefit Trust with whom the Company has transactions:
  • Godrej and Boyce Manufacturing Company Limited Employees Provident Fund
  • Godrej and Boyce Manufacturing Company Limited Employees' Gratuity Fund
  • Godrej and Boyce Manufacturing Company Limited Managerial Superannuation Fund

 

 

CAPITAL STRUCTURE

 

As on 24.11.2017

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1100000

Equity Shares

INR 100/- each

INR 110.000 Million

900000

Preference Shares

INR 100/- each

INR 90.000 Million

 

Total

 

INR 200.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

678448

Equity Shares

INR 100/- each

INR 67.845 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR  Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

67.800

66.300

66.300

(b) Reserves & Surplus

77553.600

34838.500

33715.100

(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)

77621.400

34904.800

33781.400

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

11283.000

11285.800

3653.400

(b) Deferred tax liabilities (Net)

0.000

0.000

739.400

(c) Other long term liabilities

2948.700

2566.800

2106.900

(d) long-term provisions

669.200

512.100

519.400

Total Non-current Liabilities (3)

14900.900

14364.700

7019.100

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

11833.000

12738.400

14307.600

(b) Trade payables

11116.000

8841.000

8284.000

(c) Other current liabilities

15256.400

13296.000

12902.500

(d) Short-term provisions

314.200

321.900

1538.300

Total Current Liabilities (4)

38519.600

35197.300

37032.400

 

 

 

 

TOTAL

131041.900

84466.800

77832.900

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

18614.500

14813.200

16081.500

(ii) Intangible Assets

24.000

51.000

69.300

(iii) Capital work-in-progress

4110.900

3262.500

1622.900

(iv) Intangible assets under development

144.500

0.000

0.000

(v) Investment Property

2589.700

2669.800

0.000

(b) Non-current Investments

53929.200

16307.200

10269.100

Trade Receivables

74.400

125.000

0.000

(c) Deferred tax assets (net)

63.200

1014.500

0.000

(d)  Long-term Loan and Advances

355.100

586.700

1118.900

(e) Other Non-current assets

188.500

1679.800

5575.500

Total Non-Current Assets

80094.000

40509.700

34737.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

67.600

0.000

0.000

(b) Inventories

20939.100

18262.300

19827.300

(c) Trade receivables

19981.200

17135.200

18671.400

(d) Cash and cash equivalents

1069.100

821.200

594.100

(e) Short-term loans and advances

814.200

873.600

2114.000

(f) Other current assets

8076.700

6864.800

1888.900

Total Current Assets

50947.900

43957.100

43095.700

 

 

 

 

TOTAL

131041.900

84466.800

77832.900

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

99098.300

92965.800

82398.300

 

Other Income

823.400

1622.600

1626.000

 

TOTAL

99921.700

94588.400

84024.300

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

35014.700

33230.700

33130.000

 

Purchases of Stock-in-Trade

21825.500

19637.500

20050.000

 

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

(1323.100)

(28.500)

(2047.1.000)

 

Employees benefits expense

11126.600

10381.200

9801.300

 

CSR Expenditure

0.000

0.000

51.100

 

Other expenses

25988.100

24733.300

17385.200

 

Exceptional Items

2423.800

(774.800)

(3132.100)

 

TOTAL

95055.600

87179.400

75238.400

 

 

 

 

 

 

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

4866.100

7409.000

8785.900

 

 

 

 

 

Less

FINANCIAL EXPENSES

1758.400

1771.800

1455.4

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

3107.700

5637.200

7330.500

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1786.200

1576.400

1659

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1321.500

4060.800

5671.500

 

 

 

 

 

Less

TAX

1069.800

430.100

554.1

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

251.700

3630.700

5117.400

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

27887.600

28140.900

20977.200

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

First Interim Equity Dividend: 700% (Previous Year: 700%)

474.900

464.000

464.000

 

Second Interim Equity Dividend: Nil (Previous Year: 2500%)

0.000

1657.300

464.000

 

Proposed Final Equity Dividend: Nil (Previous Year: Nil, 31-03-2015: 1600%)

0.000

1060.700

1060.700

 

Dividend Distribution Tax (Net)

96.200

509.200

327.600

 

Transfer to Debenture Redemption Reserve

208.300

0.000

520.000

 

Transfer from Investments Subsidy Reserve

(6.900)

0.000

0.000

 

Adjustments pursuant to business combination

1073.800

192.800

0.000

 

Total

1846.300

3884.000

2836.300

 

 

 

 

 

 

Balance Carried to the B/S

26293.000

27887.600

23258.300

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

F.O.B. Value of Exports

 

 5435.100

4276.900

 

Commission

 

 3.800

7.300

 

Dividend

 

 2.300

 1.100

 

Freight recovered

 

81.900

211.000

 

TOTAL EARNINGS

13723.300

5523.100

4496.300

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 

 5325.700

4413.700

 

Components and Stores parts

 

 266.500

553.500

 

Capital Goods

 

 557.900

300.900

 

Finished goods

 

 5629.700

5552.200

 

Others

 

 2.300

0.600

 

TOTAL IMPORTS

NA

11782.100

10820.900

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

371.00

5477.00

7720.00

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

1656.100

1526.400

2830.100

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

4608.500

4582.700

2127.400

Net cash flow from operating activity

4164.300

4179.700

944.900

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

73.59

67.28

82.71

 

 

 

 

Account Receivables Turnover

( Income / Sundry Debtors)

4.96

5.43

4.41

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

71.38

61.04

56.86

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.23

0.41

0.44

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.21

0.41

0.49

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.39

0.57

0.56

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.32

0.73

0.62

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.50

1.01

1.10

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.29

0.52

0.53

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.77

4.18

6.04

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

[(PAT / Sales) * 100]

%

0.25

3.91

6.21

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.19

4.30

6.57

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

0.32

10.40

15.15

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.32

1.25

1.16

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.78

0.73

0.63

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.59

0.41

0.43

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

365.37

385.38

313.59

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.32

1.25

1.16

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

           

FINANCIAL ANALYSIS

[all figures are in INR  Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

66.300

66.300

67.800

Reserves & Surplus

33715.100

34838.500

77553.600

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

33781.400

34904.800

77621.400

 

 

 

 

Long-term borrowings

3653.400

11285.800

11283.000

Short term borrowings

14307.600

12738.400

11833.000

Current Maturities of Long term debt

2830.100

1526.400

1656.100

Total borrowings

20791.100

25550.600

24772.100

Debt/Equity ratio

0.615

0.732

0.319

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

82398.300

92965.800

99098.300

 

 

12.825

6.597

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

82398.300

92965.800

99098.300

Profit/ (Loss)

5117.400

3630.700

251.700

 

6.21%

3.91%

0.25%

 

 

 

LEGAL CASES

 

Bench:- Bombay

Presentation Date:- 25/10/2017

Lodging No. :

ITXAL/2634/2017

Failing Date:-


25/10/2017

Petitioner:-

 

PR. COMMISSIONER OF INCOME TAX - 14

Respondent:-

GODREJ AND BOYCE MANUFACTURING COMPANY LIMITED

Petn.Adv:-

SURESH KUMAR (I2100)

District:-

MUMBAI

Bench:-

SINGLE

Category:-

TAX APPEALS

Status:-

Pre-Admitted

Stage:-

FOR REJECTION

Last Date:-

01/02/2018

Last Coram:-

REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

 

 

Act. :

Income Tax Act, 1961

Under Section 260A

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

67.800

66.300

(b) Reserves & Surplus

 

77854.700

42320.600

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

 Non controlling interest

 

71.900

49398.800

Total Shareholders’ Funds (1) + (2)

 

77994.400

91785.700

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

11347.200

51566.700

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

2953.500

3772.800

(d) long-term provisions

 

708.400

1043.400

Total Non-current Liabilities (3)

 

15009.100

56382.900

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

11888.200

66483.100

(b) Trade payables

 

11168.300

29930.100

(c) Other current liabilities

 

15823.300

41930.000

(d) Short-term provisions

 

318.100

1252.500

Total Current Liabilities (4)

 

39197.900

139595.700

 

 

 

 

TOTAL

 

132201.400

287764.300

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

18808.600

46159.600

(ii) Intangible Assets

 

37.200

10172.000

(iii) Capital work-in-progress

 

4113.200

6363.800

(iv) Intangible assets under development

 

144.500

43.000

(v) Investment property

 

2589.700

3856.700

(vi) Goodwill

 

669.000

53128.500

(vii) Biological assets other than bearer plants

 

0.000

88.700

(b) Non-current Investments

 

52892.900

9080.700

(c) Deferred tax assets (net)

 

152.600

1758.700

(d)  Long-term Loan and Advances

 

196.200

2092.900

(e) Other Non-current assets

 

355.100

2575.200

 

 

74.400

125.000

Total Non-Current Assets

 

80033.400

135444.800

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

112.700

5843.100

(b) Inventories

 

21166.300

74743.800

(c) Trade receivables

 

20197.600

34237.900

(d) Cash and cash equivalents

 

1648.500

10813.400

(e) Short-term loans and advances

 

904.500

8047.000

(f) Other current assets

 

8138.400

18634.300

Total Current Assets

 

52168.000

152319.500

 

 

 

 

TOTAL

 

132201.400

287764.300

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

280287.300

255279.000

 

Other Income

 

2634.700

2918.100

 

TOTAL

 

282922.000

258197.100

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

119928.100

103821.700

 

Purchases of Stock-in-Trade

 

32098.100

30031.500

 

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

 

(3100.800)

(1927.800)

 

Employees benefits expense

 

26238.200

24389.100

 

Other expenses

 

73543.600

74183.700

 

Exceptional Items

 

(3764.700)

9757.400

 

TOTAL

 

244942.500

240255.600

 

 

 

 

 

 

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

 

37979.500

17941.500

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

7328.100

6243.300

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

30651.400

11698.200

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

4692.900

3797.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

25958.500

7900.600

 

 

 

 

 

Less

TAX

 

6536.300

4556.400

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

19422.200

3344.200

 

 

 

 

 

 

OTHER COMPREHENSIVE INCOME NET OF TAX

 

 

 

 

COMPONENTS OF OTHER COMPREHENSIVE INCOME THAT WILL NOT BE

RECLASSIFIED TO PROFIT OR LOSS, NET OF TAX

 

 

 

 

OTHER COMPREHENSIVE INCOME, NET OF TAX, GAINS (LOSSES) ON

REMEASUREMENTS OF DEFINED BENEFIT PLANS

 

(181.800)

(130.300)

 

OTHER COMPREHENSIVE INCOME, NET OF TAX, GAINS (LOSSES) FROM

INVESTMENTS IN EQUITY INSTRUMENTS

 

(112.600)

(27.800)

 

OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO

PROFIT OR LOSS, NET OF TAX, OTHERS

 

0.000

0000

 

TOTAL OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED

TO PROFIT OR LOSS, NET OF TAX

 

(294.400)

(158.100)

 

COMPONENTS OF OTHER COMPREHENSIVE INCOME THAT WILL BE

RECLASSIFIED TO PROFIT OR LOSS, NET OF TAX

 

 

 

 

EXCHANGE DIFFERENCES ON TRANSLATION NET OF TAX

 

 

 

 

GAINS (LOSSES) ON EXCHANGE DIFFERENCES ON TRANSLATION, NET OF

TAX

 

(931.000)

(830.700)

 

TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAX, EXCHANGE

DIFFERENCES ON TRANSLATION

 

(931.000)

(830.700)

 

OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO PROFIT

OR LOSS, NET OF TAX, OTHERS

 

0.000

0.000

 

TOTAL OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO

PROFIT OR LOSS, NET OF TAX

 

(931.000)

(830.700)

 

TOTAL OTHER COMPREHENSIVE INCOME

 

(1225.400)

(988.800)

 

OTHER COMPREHENSIVE INCOME ATTRIBUTABLE TO NET OF TAX

 

 

 

 

OTHER COMPREHENSIVE INCOME, ATTRIBUTABLE TO OWNERS OF PARENT

 

(1218.00)

(978.300)

 

 OTHER COMPREHENSIVE INCOME, ATTRIBUTABLE TO NON-CONTROLLING

INTERESTS

 

 (7.400)

 (10.500)

 

TOTAL COMPREHENSIVE INCOME

 

18196.800

2355.400

 

COMPREHENSIVE INCOME ATTRIBUTABLE TO NET OF TAX

 

 

 

 

COMPREHENSIVE INCOME, ATTRIBUTABLE TO OWNERS OF PARENT

 

16152.900

713.600

 

COMPREHENSIVE INCOME, ATTRIBUTABLE TO NON-CONTROLLING INTERESTS

 

2043.900

1641.800

 

COMPREHENSIVE INCOME OCI COMPONENTS PRESENTED BEFORE TAX

 

 

 

 

OTHER COMPREHENSIVE INCOME BEFORE TAX

 

 

 

 

OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO

PROFIT OR LOSS, BEFORE TAX, OTHERS

 

(294.400)

(158.100)

 

OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO

PROFIT OR LOSS, BEFORE TAX

 

(294.400)

(158.100)

 

OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO PROFIT

OR LOSS, BEFORE TAX, OTHERS

 

(931.000)

(830.700)

 

TOTAL OTHER COMPREHENSIVE INCOME THAT WILL BE RECLASSIFIED TO

PROFIT OR LOSS, BEFORE TAX

 

(931.000)

(830.700)

 

TOTAL OTHER COMPREHENSIVE INCOME, BEFORE TAX

 

(1225.400)

(988.800)

 

TOTAL OTHER COMPREHENSIVE INCOME

 

(1225.400)

(988.800)

 

OTHER COMPREHENSIVE INCOME ATTRIBUTABLE TO

 

 

 

 

OTHER COMPREHENSIVE INCOME, ATTRIBUTABLE TO OWNERS OF PARENT

 

(1218.00)

(978.300)

 

OTHER COMPREHENSIVE INCOME, ATTRIBUTABLE TO NON-CONTROLLING

INTERESTS

 

(7.400)

(10.500)

 

TOTAL COMPREHENSIVE INCOME

 

18196.800

2355.400

 

COMPREHENSIVE INCOME ATTRIBUTABLE TO

 

 

 

 

COMPREHENSIVE INCOME, ATTRIBUTABLE TO OWNERS OF PARENT

 

16152.900

713.600

 

COMPREHENSIVE INCOME, ATTRIBUTABLE TO NON-CONTROLLING INTERESTS

 

2043.900

1641.800

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 25604.00

 2552.00

 

 

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

No

8

Designation of contact person

No

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

Yes

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

 

 

STATE OF THE COMPANY'S AFFAIRS:

 

During the year, the Company’s Revenue from Operations (net) was up by 6% to INR 99098.300 Million and Profit before Exceptional Items and Tax was INR 3745.300 Million as against INR 3286.000 Million for the previous year, registering an increase of 14%. The Company has been in the consumer durables segment for more than 100 years and enjoys a strong brand image and recall with its customers. Management believes that growth in consumer segment will remain moderate over the medium term, given the slowdown in consumer demand and high interest rates. Growth in industrial segment will remain muted till the large industrial clients increase their investment gradually as the economic scenario improves. This might impact the profitability in short run, however, the management believes that Company’s cash accruals will remain healthy over the medium term, driven by its diversified revenue profile and increasing contribution of stable lease rental income, supported by comfortable gearing and debt protection metrics. Further, its listed equity portfolio and valuable real estate holdings will continue to support its strong financial flexibility.

 

 

SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES :

 

During the financial year, the following changes have taken place :

 

Pursuant to the Scheme of Amalgamation between Cartini India Limited (“Cartini”) and the Company (“the Scheme 1”), Cartini amalgamated with the Company and stood dissolved without winding up vide Order of the High Court of Judicature at Bombay dated 20th June, 2016, the certified true copy of which was filed with the Ministry of Corporate Affairs on 1st August, 2016 and the Scheme 1 became effective from that date.

 

Pursuant to Scheme of Amalgamation between East View Estates Private Limited (“East View”), Firstrock Infrastructures Private Limited (“Firstrock”) and Miracletouch Developers Private Limited (“Miracletouch”), wholly-owned subsidiaries of the Company and the Company (“the Scheme 2”), East View, Firstrock and Miracletouch amalgamated with the Company and stood dissolved without winding up vide Order of

the High Court of Judicature at Bombay dated 8th July, 2016, the certified true copy of which was filed with the Ministry of Corporate Affairs on 18th August, 2016 and the Scheme 2 became effective from that date.

 

Godrej (Malaysia) Sdn. Bhd., a wholly-owned subsidiary of the Company voluntarily liquidated on 28th December 2016.

 

Godrej Industries Limited ceased to be a subsidiary of the Company with effect from 30th March, 2017, consequently, Godrej Consumer Products Limited, Godrej Agrovet Limited and Godrej Properties Limited and their down-stream subsidiaries ceased to be subsidiaries/sub-subsidiaries of the Company with effect from that date.

 

Godrej UEP (Singapore) Pte. Limited became an associate of the Company with effect from 30th November, 2016, being a Joint Venture between Godrej Singapore Pte. Limited, a wholly-owned subsidiary of the Company and Urban Electric Power Inc., USA.

 

Pursuant to a composite Scheme of Arrangement and Amalgamation amongst Geometric Limited; HCL Technologies Limited; and 3D PLM Software Solutions Ltd; becoming effective from 2nd March, 2017 and thus Geometric Limited stood dissolved without winding up with effect from 2nd March, 2017 and thus ceased to be an associate of the Company with effect from that date.

 

The Scheme of Amalgamation of Godrej Investments Private Limited (“GIPL”) with the Company (“the Scheme 3”) filed in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013, with the National Company Law Tribunal, Mumbai Bench (“NCLT”) came up for its final hearing on 23rd August, 2017, whereat the NCLT issued an Order sanctioning the Scheme 3. In accordance with the directions of the NCLT, GIPL and the Company filed the certified copy of the Order with the Ministry of Corporate Affairs (“the MCA”) on 18th September, 2017 respectively, and accordingly, the Scheme 3 became effective. With effect from the Appointed Date, i.e. close of business hoursason29th March, 2017, and upon the Scheme 3 becoming effective, the whole undertaking of GIPL, along with all the assets and liabilities thereof, stood transferred to the Company to belong to, and be managed by the Company, and GIPL stood dissolved without winding-up. Upon the Scheme 3 coming into effect, 1,77,432 fully paid up equity Shares of INR 100 each of the Company held by GIPL are cancelled and in consideration and as per the Scheme 3, 1,77,429 fully paid up equity Shares of INR 100 each of the Company were issued and allotted on 6th November,2017, to the shareholders of GIPL in the ratio of their holding in GIPL. Any fraction arising out of the allotment has been rounded off to the nearest integer.

 

The Scheme of Amalgamation of Busbar Systems (India) Limited (“Busbar”) and Mercury Manufacturing Company Limited (“MMCL”) with the Company (“the Scheme 4”) filed in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013, with NCLT Mumbai Bench, NCLT, Bengaluru Bench and NCLT, Chennai Bench came up for its final hearing on 23rd August, 2017, on 16th October, 2017 and on 14th September, 2017, respectively, whereat the respective NCLT issued Orders sanctioning the Scheme 4. In accordance with the directions of the NCLT respective benches, the Company filed certified copies of the Orders with the MCA on 3rd October, 2017 for MMCL and on 28th October, 2017 for Busbar. Accordingly, the Scheme 4 became effective. With effect from the Appointed Date, i.e. 1st April, 2016, and upon the Scheme 4becoming effective, the whole undertaking of Busbar and MMCL, along with all the assets and liabilities thereof, stood transferred to the Company to belong to, and be managed by the Company, and Busbar and MMCL stood dissolved without winding-up.

 

 

 

INDEX OF CAHREGS:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

G05500251

100032703

IL & FS TRUST COMPANY LIMITED

25/05/2016

-

5000000000.0

IL & FS FINANCIAL CENTRE PLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EAST MUMBAI MAHARASHTRA 400051 INDIA

2

C33974056

10531846

ICICI BANK LIMITED

17/10/2014

-

30000000.0

LANDMARK RACE COURSE CIRCLE VADODARA GUJARAT 390007 INDIA

3

C09418195

10506229

The Zoroastrian Cooperative Bank Ltd.

20/03/2014

-

120000000.0

MAHIM BRANCH, DELTA APARTMENTS, GROUND FLOORSONAWALLA AGIARY LANE, OFF M. CHHOTANI MARG, MAHIM MUMBAI MAHARASHTRA 400016 INDIA

4

G54917729

10123585

Export-Import Bank of India

29/09/2008

07/09/2017

6800000000.0

Centre One Building, Floor 21World Trade Centre Complex, Cuffe Parade Mumbai MAHARASHTRA 400005 INDIA

5

A01022086

10005578

UNION BANK OF INDIA LIMITED

04/05/2006

-

30000000.0

6

Y10344104

90236467

CENTRAL BANK OF INDIA

14/10/2005

-

140000000.0

CORPORATION FINANCE BRANCHCENTRE BANK BUILDING MG ROAD MUMBAI MAHARASHTRA 400023 INDIA

7

Z00119600

80026323

Central Bank of India

14/10/2005

-

940000000.0

Chandarmukhi Nariman Point Mumbai MAHARASHTRA 400021 INDIA

8

Y10344003

90236366

UTI BANK LTD

09/11/2004

22/07/2005

40000000.0

UNIVERSAL INCURANCEPM ROAD MUMBAI MAHARASHTRA 400001 INDIA

9

C56893795

90290482

Indian Bank

13/09/2004

04/10/2014

80000000.0

MADRAS EXPORT PROCESSING ZONE BRANCHADMIN BLOCK, MEPZ, TAMBARAM CHENNAI TAMILNADU 600045 INDIA

10

G15392301

90236303

CENTRAL BANK OF INDIA

24/03/2004

21/09/2016

19100000000.0

CORPORATE FINANCE BRANCHCENTRAL BANK BLDG., IST FLOOR, FORT MUMBAI MAHARASHTRA 400001 INDIA

 

 

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 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

INR

US Dollar

1

INR 66.66

UK Pound

1

INR 90.66

Euro

1

INR 80.00

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

 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

INR

US Dollar

1

INR 66.66

UK Pound

1

INR 90.66

Euro

1

INR 80.00

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

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.