Gujarat State Finance Corporation Ltd
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BSE Code:
532160
NSE Code:
GUJSTATFIN
Business Profile
Business Profile
Gujarat State Financial Corporation (GSTFNCO), established on May 01, 1961, has been established as a state level development financial institution to provide a comprehensive array of financial services to entrepreneurs who set up industrial units in the small scale sector of Gujarat.
The corporation has financed over 47,330 units and disbursed approximately Rs 33,000 million till date, generating employment for over 600,000 people. It has discontinued lending and disbursement, which were its main business activities. Accumulating losses, it has more than 4,000 units under doubtful category of non performing assets scattered in the state of Gujarat and is solely dependent on recovery of dues.
The registered office is located at Sector-11, GH 4 Udyog Bhavan, 1st Floor, Block No 10, Gandhinagar-382017, Gujarat.
Financials
Gujarat State Financial Corporation registered a loss of Rs 281.4 million for the quarter ended December 2007.
Net sales increased 5.5 times to Rs 104.5 million for the quarter ended December 2007 from Rs 19 million for the quarter ended December 2006.
Total income rose 343.57% to Rs 106.9 million for the quarter ended December 2007 from Rs 24.1 million for the quarter ended December 2006.
It recorded a loss per share of Rs 3.15 for the quarter ended December 2007.