Gokak Textiles Limited
Gokak Textiles is a subsidiary company of Shahpoorji Pallonji & Co. Limited.Forbes Gokak Limited is ,probably, the oldest joint Stock Co.in Indis, still in existence. Shapoorji Pallonji bought the controlling stake from the Tata group a few years ago. They are shareholders in Tata Sons Limited.
Shapoor Pallonji group is one of the largest and highly respected business groups ( although maintaining low profile . They were producers of the epic film " Mughal-e-Azam ).
Registered Office :
Gokak Textiles Limited,45/3,
Gopal Krishna Complex,
Residency Cross Road,
Gokak Falls ( Karnataka )
Marihal ( Karnataka )
Belgaum ( Karnataka)
Ludhiana ( Punjab )
At Gokak Falls, the company operates one of India's earliest hydro electric power stations.
Chairman ; Shahpoor P. Mistry,
Directors : Pallonji S. Mistry ; HS Bhaskar ; Ashok Barat ; DG Prasad ;CG Shah ; HS Billimoria ; Ramaotar Goyal ;PN Kapadia ;RN Jha
Share Capital : Rs. Six Crore Fifty Lakh
Reserves : Rs. 53 Crore ( giving a book value of around Rs. 80/- per share of Rs. 10 each )
For the financial year ended 31-03-09 on a turnover of Rs.262 crore, Gokak Textiles Limited posted a net loss of Rs. 25 crore.
Textile companies had been facing rough times. They would see better times.
Gokak Textiles Limited " is coming out with its own brand to market undergarments and other products which are growing at the rate of 20-25% at present ".
No. of shareholders : around 12,000 ( 31-03-09 ).73.5% equity is held by promoters.
Status : Shares are listed at BSE. Although daily quotation is availability- ( jobber activity ) , the share is only moderately liquid.Market rate around Rs.40/-.
For the 18 month period ending 30 /09/12 Gokak Textile has made a Net Profit of around Rs. 19 cr. This is because of Transfer of Hydro Electric Unit to a Subsidiary for Rs. 94 Cr Net Cash. With this Gokak seems to repaid most of its Debt and may have returned to Profits in the foreseeable future. On these counts Gokak Textiles seems to be a Good Buy on Long Term basis
Gokak Textiles is on a Re organisation mode ( having rolled out and partially monestising its Hydro Electric Unit )
Now Gokak Textiles is selling its Karnataka based Knitwear Unit.Please click :-
Caution :The blog writer has personal/ family members' holdings in this Company , so please make suitable "provisions " for likely over optimism
( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . )