Performance | Gujarat Industrial Investment Corporation Limited
Performance | Gujarat Industrial Investment Corporation Limited

Performance

Contribution to Socio-Economic Development of Gujarat

  • Promoted first generation entrepreneurs and Technocrats
  • Development of backward areas by providing Financial Assistance to Industrial units to meet the objectives of balanced regional development.
  • Promoted Projects to exploit natural resources such as Limestone, Salt, Gas, Lignite etc.

Contribution to Industrialization of State

GIIC has made significant contributions in rapid development of Medium and Large Scale Industry in Gujarat.

Loans

In Crores
Units Assisted (Nos) 4040
Amount Sanctioned () 2522
Amount Disbursed () 1806
Investment Generated () 8500
Employment Generated (Nos) 5,41,000

Project Investments Upto 31/03/2007

In Crores
No. of Projects Promoted 58
Gross Equity Investments 306
Cumulative Equity Investment (Incl.Equity in GSFC of Rs71.28 Crs) 377
Sale Value of Disinvestment 573
- Original cost of above equity 249
- Surplus/Profit on Disinvestment 324
Dividend Received 79.25
Investment Generated 17,000
Employment Generated 16,000

Initiatives

  • From 1998-99 Corporation started incurring losses and continued till 2004-05. GIIC, on temporary basis discontinued its Lending and Equity Investment activities from the year 2000.
  • Concentrated on Recovery & Disinvestment.
  • Reduced Financial Expenses by way of swapping high cost debt, Reduction in Administrative expenses by way of VRS and Controlling overheads.
  • Recovery & Disinvestment proceeds were used towards compromise settlement with Banks & FIs.
  • Started making profits from 2005-06 onwards.
  • Net profit (after tax) for 6 years amounted to Rs. 108.85 Crores upto 31-3-2014.

Net Profit

In Crores
Year Net Profit
2005-06 13.96
2006-07 5.31
2007-08 2.81
2008-09 10.08
2009-10 18.27
2010-11 10.97
2011-12 21.14
2012-13 5.65
2013-14 20.66
Total 108.85
Back to Top