Gokak Textiles to Sell its Knitwear Unit

Gokak Textiles is a rare Listed Company of  Shahpoorji Pallonji Group ( partners/ relatives of Tata s with Cyrus Mistry as Tata Group Head ).

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 :-

http://www.moneycontrol.com/news/announcements/gokak-textiles-to-sell-its-knitwear-business_971166.html 

http://www.rareindianshares.info/search?q=gokak


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Gokak Textiles Limited

Gokak Textiles Limited was demerged ( textile business ) in 2006 from Forbes Gokak Limited ( now known as Forbes & Co. Ltd. ).For every 2 shares of Forbes, one share of Gokak was allotted .

http://www.moneycontrol.com/news/business/forbes-gokak-demerges-textile-division_302489.html

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,
Bangalore-560025

Factories :-

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


 

October 01, 2012

Value Unlocking in Forbes , Gokak - Business Today Link

Please click :-

http://businesstoday.intoday.in/story/shapoor-mistry-of-shapoorji-pallonji-group-cyrus-brother/1/188002.html







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June 16, 2014

Gokak Textiles - Real Estate Value Unlocking ???

Development of Integrated Industrial Township  at Gokak Falls ( Karnataka )

http://www.business-standard.com/article/news-cm/outcome-of-board-meeting-of-gokak-textiles-114061300801_1.html

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General Warning : Investment in Shares Can be Injurious to Your WEALTH

Disclosure : The Blog writer in his / family names has holdings in this Company. So please make suitable " provisions " for any likely Over Optimism

NB :All information given in good faith. Please recheck every point before taking any investment decision. No responsibility with this blog / blog writer.

July 12, 2012

Forbes And Co , Gokak Textiles -Value Unlocking - Links

Great hopes among Investors that Shaporji Group would do Value Unlocking in their two Listed Companies i.e.

Forbes And Co
Gokak Textiles

Please click  :-

http://articles.economictimes.indiatimes.com/2012-07-02/news/32508747_1_pallonji-mistry-tata-sons-cyrus-mistry

http://articles.economictimes.indiatimes.com/2012-07-08/news/32578275_1_new-logo-cmd-affordable-housing

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General Warning : Investment in Shares Can be Injurious to Your  WEALTH

Caution :The blog writer has personal/ family members' holdings in these companies , 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 . )

November 24, 2011

Cyrus Mistry 's Elevation Brings Hope For Forbes And Gokak Shareholders

TATA - E - AZAM

Pallonji Mistry and even Cyrus maintain  a very low profile . Now , the whole world's attention is on them . Pallonji Mistry is known as " Phantom of Bombay House ( Tata HQ ). Pallonji ( to the best of our knowledge has foreign nationality - Irish ).Mistrys were producers of the classic Hindi film " Mughal -e - Azam " .

Their listed companies Forbes And Co. and Gokak Textiles should , now , become more investor friendly and  deliver better returns for their non promoter share holders ( although the companies are doing well ).

For at least last two consecutive years Forbes And Co. in their Board of Directors has on Agenda for consideration " Dividend " thereby raising hopes among investors only to be told that no dividend.

http://www.rareindianshares.info/2009/12/blog-post.html