Professional Documents
Culture Documents
GLOSTER LIMITED
Immortal
Soul
- "Inevitable Truth"
1
Annual Report 2014-15
Contents
Tribute to Shri Gopal Das Bangur
Financial Highlights
Corporate Information
Chart Distribution of Revenue
Directors Report
Corporate Governance Report
Shareholder Information
Independent Auditors Report
Balance Sheet
Statement of Profit and Loss
Cash Flow Statement
Notes to the Financial Statements
Independent Auditors Report on Consolidated Financial Statements
Consolidated Balance Sheet
Consolidated Statement of Profit and Loss
Consolidated Cash Flow Statement
Notes to the Consolidated Financial Statements
Details of Subsidiary Companies
2
Gloster Limited
01
14
15
16
17
44
53
56
60
61
62
64
85
90
91
92
94
114
The Man
with the Midas
Touch
1
Annual Report 2014-15
A magnanimous
man and an
exemplary
visionary
Our Executive Chairman, the Late Gopal
Das Bangur was born into the illustrious
Bangur family. Not only was he blessed with
the inborn qualities of his familys business
acumen and excellence, he was also bestowed
with a philanthropic bent of mind that
manifested itself in every aspect of his life.
Gopal babu as he was fondly known in the
business and social circles navigated the
company to attain unprecedented heights
of success having come to the helm at a time
when the industry was in a precarious state.
By dint of his sincere dedication and hard
work, he charted the course of Gloster and
wrote its destiny in the golden letters of
SUCCESS. While he tasted the dizzying heights
of professional achievement, he also gave back
to the community in which he operated by
stint of his compassion and philanthropic
bent of mind.
2
Gloster Limited
He was a perceptive
entrepreneur and his foresight
and vision was his greatest
asset. He firmly believed that
achievements are determined
by 3 D's - Desire, Dedication
and Devotion.
3
Annual Report 2014-15
Above
and
beyond
Gopal babu was beyond the
league of ordinary humans
and belonged to the league
extraordinaire.
Gopal babu was a true philanthropist at the core.
He has contributed greatly in the commissioning
of social, health and education infrastructure for
the downtrodden and underprivileged sections
of society. A large percentage of his social work
is centred in and around the jute factory and
various plantation estates of the group in Assam,
Kerala, Karnataka as part of his community
outreach programmes.
4
Gloster Limited
A spiritual mindset
5
Annual Report 2014-15
The
genesis
6
Gloster Limited
7
Annual Report 2014-15
Gloster, established
in 1872, is a leading
manufacturer and
exporter of jute
products in India,
promoted and
managed by the
Bangur Group, based
in Kolkata, West
Bengal.
vision
mission
8
Gloster Limited
milestones
The companys journey
1872
1954
2002-03
1992
2007-13
2013-14
61 years of
qualitative excellence
t
t
10
Gloster Limited
Going
global
[
11
Annual Report 2014-15
The circle
of life
Life and death.
Two inevitable
truths.
In the life cycle
of human, plant
and jute products.
12
Gloster Limited
As a person gives up old and worn out garments and accepts new apparel
So does the soul give up old and worn out bodies and accept new bodies
Bhagvad Gita, Chapter 2 , Verse 22
13
Annual Report 2014-15
Financial Highlights
Year Ended
Share
Capital
(` lakhs)
Reserves
(` lakhs)
Net
Worth
(` lakhs)
Income
From
Net Wrot
Kperaons (` lakhs)
(` lakhs)
Cash
Wrot
(` lakhs)
Cash
Earnings
Earnings
Per Share
Per Share
(`)
(`)
Book
Value (`)
Dividend
(%)
31-03-1993
22
26
48
3,909
30
65
20%
31-03-1998
65
773
838
6,983
331
390
16
35%
31-03-2003
131
1,744
1,875
11,052
377
505
10
36
35%
31-03-2008
131
4,251
4,382
15,816
1,104
1,616
21
31
84
50%
31-03-2009
262
4,875
5,137
16,794
908
1,419
17
27
98
50%
31-03-2010
262
26,251
26,513
19,529
975
1,515
19
29
507
60%
31-03-2011
262
26,653
26,915
30,686
1,408
2,010
27
38
514
70%
31-03-2012
262
27,254
27,516
30,860
1,894
2,536
36
48
526
200%
31-03-2013
262
39,775
40,037
34,623
2,021
2,732
39
52
765
100%
31-03-2014
523
38,893
39,416
33,602
1,408
2,163
27
41
753
60%
31-03-2015
523
35,749
36,272
32,542
1,324
2,237
25
43
693
60%
14
Gloster Limited
CKRPKRdE
INFKRDdIKN
Board o Directors
'
,
D
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Compan Secretar
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Bankers
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uditors
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WK&'
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15
Annual Report 2014-15
50.61%
39.06%
Depreciation
2.76%
Finance Cost
1.48%
Tax
2.08%
Profit (PAT)
4.01%
1.48% 2.08%
39.06%
4.01%
50.61%
50.93%
39.36%
Depreciation
2.21%
Finance Cost
1.56%
Tax
1.80%
Profit (PAT)
4.14%
16
Gloster Limited
1.56% 1.80%
39.36%
4.14%
50.93%
DIRECdKRS REPKRd
dK dHE MEMBERS
zddZ
D
FINNCI> RESh>dS
`
dD
Parculars
Standalone
Consolidated
Year Ended
Year Ended
Year Ended
Year Ended
Z
32,542.33
33,601.93
32,927.14
33,601.93
d
29,630.99
30,752.25
30,016.75
30,753.38
2,911.34
2,849.68
2,910.39
2,848.55
&
488.01
530.14
488.63
530.14
912.50
754.93
912.50
754.93
1,510.83
1,564.61
1,509.26
1,563.48
500.55
455.27
657.84
522.34
2,011.38
2,019.88
2167.10
2,085.82
KW&
KW&
K/
'Wd/
dd
W
687.83
611.52
711.57
617.45
1,323.55
1,408.36
1,455.53
1,468.37
495.55
554.57
617.42
616.43
1,819.10
1,962.93
2,072.95
2,084.80
314.01
314.01
314.01
314.01
63.92
53.37
63.92
53.37
800.00
1,100.00
800.00
1,100.00
ppropriaons
WW
d
d'Z
&
217.97
217.97
423.20
495.55
677.05
617.42
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17
Annual Report 2014-15
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18
Gloster Limited
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19
Annual Report 2014-15
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20
Gloster Limited
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21
Annual Report 2014-15
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ENVIRKNMENd ND SFEdY
d
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dRDE RE>dIKNS
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22
Gloster Limited
d
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WKR<P>CE (PREVENdIKN PRKHIBIdIKN REDRESS>) Cd
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^
Inside India
Outside India
dotal
23,136.11
24,096.36
8,919.91
9,049.50
32,056.02
33,145.86
1,458.73
989.85
309.65
484.87
1,768.38
1,474.72
989.79
1,311.70
989.79
1,311.70
23
Annual Report 2014-15
d) Outlook
d
&
W
d
`
Parculars
dW
W`
Increase
(Decrease)
Z
32,542.33
33,601.93
Z
16,714.41
17,329.21
488.01
530.14
1,323.55
1,408.36
&
z
d
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24
Gloster Limited
W
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h) Cauonar statement
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25
Annual Report 2014-15
d
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Compensaon Structure
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d E Z
d
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26
Gloster Limited
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Sector in which
the proect is
covered (vide
schedule VII to
the Companies
ct )
/
mount
Cumulave
Proects or programs mount outla mount
spent on the ependiture spent: Direct
(udget)
>ocal area or other
or through
up to the
proect or
proects or
Speci the state
reporng implemenng
and district where programs wise programs
period
Su heads
proects or programs
agenc
was undertaken
Z
11 .00
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/
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10.58
10.58
10.58
&
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D
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27
Annual Report 2014-15
d
dD
'>
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<
/
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^
d D
/
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/
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d
d^Z^Z
Z
d Z
& D Z
28
Gloster Limited
ZK
/&/
d Z '
^ / ^/
d^/^
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d^/W
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d ^ / /
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29
Annual Report 2014-15
FORM NO M'd
EydRCd OF NNh> REdhRN
&z
W^
DZ
/E
>tW>
Z
E
'>
^
W^
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&
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D><
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Name and Descripon o main
productsservices
:W
131, 139
100%
CIN'>N
Holding Susidiar
ssociate
% o shares Held
pplicale Secon
1.
'>>
htW> ^
100%
2.
'^>
htW> ^
100%
30
Gloster Limited
IV SHRE HO>DIN' PddERN (Euit Share Capital Breakup as percentage o dotal Euit)
Categor o
Shareholders
Phsical
% o dotal
shares
dotal
Phsical
% Change
during the
% o dotal
ear
shares
dotal
Promoters
1) Indian
7,80,344
5,712
7,86,056
15.02
8,38,385
5,712
8,44,097
16.13
1.11
'
/,h&
^'
0 26,35,305
50.36
-0.75
26,74,963
0 26,74,963
51.11 26,35,305
&/
1 11
) Foreign
EZ//
K/
&/
Sutotal ()():
dotal shareholding
o Promoter ()
()(1)()()
1 11
B Pulic
Shareholding
1) Instuons
D&hd/
2,492
6,084
8,576
0.16
2,492
6,042
8,534
0.16
'
^
0 11,51,597
22.00
-0.30
&/
s
Funds
/
&//
&s
&
11,67,042
0 11,67,042
22.30 11,51,597
1111
Sutotal(B)(1):
11
111
11
31
Annual Report 2014-15
Categor o
Shareholders
Phsical
% o dotal
shares
dotal
Phsical
% Change
during the
% o dotal
ear
shares
dotal
NonInstuons
/
46,597
10,892
57,489
1.10
77,963
7,884
85,847
1.64
0.54
/
`
4,25,188
90,804
5,15,992
9.86
3,91,930
74,047
4,65,977
8.90
-0.96
/
`
15,040
15,040
0.29
28,112
28,112
0.54
0.25
20
20
8,764
8,764
0.17
0.17
D
1,039
1,039
0.02
402
402
0.01
-0.01
EZ
/
2,183
5,040
7,223
0.14
2,123
2,682
4,805
0.09
-0.05
111
11
K
/
K
d
Sutotal (B)()
dotal Pulic
Shareholding
(B)(B)(1) (B)()
C Share held
Custodian or 'DRs
DRs (C)
11 11 11
32
Gloster Limited
1 1
ii
Shareholding o Promoters
Shareholding at the eginning o the
ear
Sr
No
Shareholders Name
No o
shares
% o total
shares
o the
compan
% o Shares
Pledged
encumered
to total
shares
No o
shares
% o total
shares
o the
compan
% o Shares
Pledged
encumered
to total
shares
% change
in share
holding
during the
ear
<
>
9,23,944
17.66
8,93,903
17.08
dK
>
7,55,008
14.43
7,55,008
14.43
Dd
>
5,73,181
10.95
5,91,564
11.31
0.36
,
/W>
3,05,190
5.83
3,05,190
5.83
'
1,78,570
3.41
1,78,570
3.41
W
1,37,210
2.62
1,70,210
3.25
0.63
,<
,h&
1,69,912
3.25
1,69,912
3.25
,
1,36,666
2.61
1,36,666
2.61
s
1,08,400
2.07
1,33,441
2.55
0.48
1,11,192
2.12
83,192
1.59
11 ',h&
49,186
0.94
49,186
0.94
12 tWs
W>
6,448
0.12
6,448
0.12
13 W
Bangur
5,312
0.05
5,312
0.05
400
0.01
400
0.01
10 d/
>
14 W
33
Annual Report 2014-15
Parculars
Share
Shareholding at the eginning o Cumulave Shareholding during
holding
the ear
the ear
dransacon
No o shares % o total shares No o shares % o total shares
Date
o the compan
o the compan
01.04.2014
9,23,944
17.66
9,23,944
17.66
12.09.2014
8,93,903
17.08
31.03.2015
8,93,903
17.08
01.04.2014
5,73,181
10.95
5,73,181
10.95
24.10.2014
263
0.01
5,73,444
10.96
31.10.2014
240
0.00
5,73,684
10.96
19.12.2014
222
0.00
5,73,906
10.97
31.12.2014
185
0.00
5,74,091
10.97
23.01.2015
3,568
0.07
5,77,659
11.04
30.01.2015
475
0.01
5,78,134
11.05
06.02.2015
673
0.01
5,78,807
11.06
27.02.2015
5,752
0.11
5,84,559
11.17
13.03.2015
2,000
0.04
5,86,559
11.21
20.03.2015
2,165
0.04
5,88,724
11.25
27.03.2015
2,000
0.04
5,90,724
11.29
31.03.2015
840
0.02
5,91,564
11.31
31.03.2015
5,91,564
11.31
01.04.2014
1,37,210
2.62
1,37,210
2.62
12.09.2014
33,000
0.63
1,70,210
3.25
31.03.2015
1,70,210
3.25
01.04.2014
1,08,400
2.07
1,08,400
2.07
12.09.2014
25,041
0.48
1,33,441
2.55
31.03.2015
1,33,441
2.55
01.04.2014
1,11,192
2.12
1,11,192
2.12
12.09.2014
83,192
1.59
31.03.2015
83,192
1.59
Vinita Bangur
34
Gloster Limited
iv Shareholding Paern o top ten Shareholders ( other than Directors Promoters and Holders o 'DRs and DRs)
Sr
No
01.04.2014
11,67,042
22.30
11,67,042
22.30
31.12.2014
11,65,692
22.27
02.01.2015
11,64,692
22.25
09.01.2015
11,53,597
22.04
16.01.2015
11,51,597
22.00
31.03.2015
11,51,597
22.00
01.04.2014
24,500
0.47
24,500
0.47
31.03.2015
24,500
0.47
01.04.2014
15,040
0.29
15,040
0.29
31.03.2015
15,040
0.29
01.04.2014
27.03.2015
14,459
0.28
14,459
0.28
31.03.2015
14,459
0.28
01.04.2014
31.12.2014
6,660
0.13
6,660
0.13
02.01.2015
550
0.01
7,210
0.14
09.01.2015
2,505
0.05
9,715
0.19
16.01.2015
1,993
0.04
11,708
0.23
23.01.2015
1,385
0.02
13,093
0.25
13.02.2015
0.00
13,072
0.25
31.03.2015
13,072
0.25
01.04.2014
22.08.2014
8,744
0.17
8,744
0.17
31.03.2015
8,744
0.17
3 Harimohan Bangur
35
Annual Report 2014-15
Sr
No
01.04.2014
7,808
0.15
7,808
0.15
31.03.2015
7,808
0.15
01.04.2014
28.11.2014
2,894
0.06
2,894
0.06
05.12.2014
674
0.01
3,568
0.07
12.12.2014
2,122
0.04
5,690
0.11
19.12.2014
437
0.00
6,127
0.11
31.03.2015
6,127
0.11
01.04.2014
2,800
0.05
2,800
0.05
13.06.2014
3,000
0.06
5,800
0.11
20.06.2014
458
0.01
6,258
0.12
30.06.2014
442
0.00
6,700
0.12
04.07.2014
100
0.00
6,800
0.12
11.07.2014
800
0.02
7,600
0.14
18.07.2014
50
0.00
7,650
0.14
08.08.2014
50
0.00
7,700
0.14
14.08.2014
250
0.00
7,950
0.14
30.09.2014
150
0.00
8,100
0.14
06.03.2015
7,400
0.13
13.03.2015
5,700
0.10
20.03.2015
5,300
0.10
31.03.2015
5,300
0.10
01.04.2014
5,208
0.10
5,208
0.10
31.03.2015
5,208
0.10
01.04.2014
5,200
0.10
5,200
0.10
31.03.2015
5,200
0.10
10 Bhar Shro
11
36
Gloster Limited
Sr
No
12
13
14
15
16
17
01.04.2014
4,800
0.92
4,800
0.92
31.03.2015
4,800
0.92
01.04.2014
4,800
0.92
4,800
0.92
31.03.2015
4,800
0.92
01.04.2014
4,800
0.92
4,800
0.92
31.03.2015
4,800
0.92
01.04.2014
6,000
0.11
6,000
0.11
06.06.2014
250
0.00
5,750
0.11
13.06.2014
627
0.01
5,123
0.10
20.06.2014
555
0.01
4,568
0.09
30.06.2014
690
0.02
3,878
0.07
04.07.2014
278
0.00
3,600
0.07
08.08.2014
237
0.01
3,363
0.06
14.08.2014
363
0.00
3,000
0.06
29.08.2014
401
0.01
2,599
0.05
05.09.2014
99
0.00
2,500
0.05
23.01.2015
2,500
0.05
31.03.2015
01.04.2014
7,088
0.15
7,088
0.15
29.08.2014
7,088
0.15
31.03.2015
01.04.2014
8,744
0.17
8,744
0.17
29.08.2014
8,744
0.17
31.03.2015
<usum Mohta
Champa Devi
37
Annual Report 2014-15
01.04.2014
1,78,570
3.41
1,78,570
3.41
31.03.2015
1,78,570
3.41
01.04.2014
1,36,666
2.61
1,36,666
2.61
31.03.2015
1,36,666
2.61
01.04.2014
3,160
0.06
3,160
0.06
31.03.2015
3,160
0.06
01.04.2014
600
0.01
600
0.01
04.04.2014
575
0.01
11.04.2014
525
0.01
18.04.2014
400
0.01
25.04.2014
225
0.01
16.05.2014
31.03.2015
01.04.2014
600
0.01
600
0.01
31.03.2015
600
0.01
38
Gloster Limited
INDEBdEDNESS
`/
Secured >oans
ecluding deposits
hnsecured
>oans
Deposits
dotal Indetness
5,456.79
188.55
5,645.34
17.32
17.32
11
1,483.91
188.55
1,672.46
3,979.68
3,979.68
10.52
10.52
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75.49
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8.30
9.80
11
W/d
1961
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11
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5
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39
Annual Report 2014-15
`/
Name o Directors
Sr
No
1
Shri
Bhaskar
Mier
Smt
Nandita
Sen
&
0.80
1.00
0.30
0.30
2.40
0.22
3.96
3.96
3.96
3.96
16.06
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&
1.00
3.96
Independent Directors
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2
Shri
Shri S N
Dr Prair
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Bhaachara
Ra
Mahapatra
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264.54
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14.25
35.63
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4.67
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7.79
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41
Annual Report 2014-15
62.62
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43
Annual Report 2014-15
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BORD OF DIRECdORS
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Annual Report 2014-15
hDId COMMIddEE
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47
Annual Report 2014-15
d E
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49
Annual Report 2014-15
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Annual Report 2014-15
1 COMP>INCE CERdIFICdE
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53
Annual Report 2014-15
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SHREHO>DER INFORMdION
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55
Annual Report 2014-15
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Annual Report 2014-15
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1,62,820
2006-07
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14,42,916
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58
Gloster Limited
^d
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8,41,751
2007-08
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tsd
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21,61,019
2008-09
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6,94,675
2008-09
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tsd
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17,34,219
2009-10
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15,54,342
2009-10
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22,26,350
2010-11
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38,83,904
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59
Annual Report 2014-15
B>NCE SHEEd^d^dDZ,
EYhIdY ND >IBI>IdIES
Shareholders Funds
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60
Gloster Limited
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Annual Report 2014-15
K
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69
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Annual Report 2014-15
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75
Annual Report 2014-15
Sale o products
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6,3
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79
Annual Report 2014-15
`
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Annual Report 2014-15
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Annual Report 2014-15
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Gloster Limited
117
Annual Report 2014-15
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Gloster Limited
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