Gloster 5385950315

ANNUAL REPORT 2014-15
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
15th Nov, 1946 - 8th June, 2015
1
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
While Gloster went on to become a formidable

business entity and highly flourishing
organization, anchored by an extraordinary force
of more than 5,000 employees belonging to all
castes and religions. Gopal babu also devoted
time and resources to aid society in innumerable
charitable ways by building social, educational
and health infrastructure.
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.
Gopal babu was the Chairman

of Indian Jute Mills Association
- the apex body of jute
manufacturers- for the periods
1992-93 and 1993-94.
3
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 born philanthropist, throughout his life

he has supported various hospitals, which
served the under-privileged. He contributed
immensely to the development of educational
infrastructure with a special focus on the
upliftment of the girl child. His contribution
towards the capacity building in communities
where the Group operated was exemplary.
Environmental cleanliness, occupational health
of the workers working in various factories of
the group and a green society were closest to
his heart. He felt that only with the inclusive
growth of the underprivileged we shall be able
to make an egalitarian society.
His graciousness and magnanimity will forever
remain unparalleled and he will continue
to shine like a beacon in the sky of human
compassion.
A spiritual mindset
Gopal babu was a peace-loving man

at heart. He always propounded that
peace of mind was the key nourishment
for the human soul and was one factor
that ultimately determined quality of
the mind as well as life. To him, life was
not about material successes or awards
and recognition. The essence of life, to
him, was in being able to serve society
and fellow human beings, especially
the downtrodden. The awe-inspiring
Hanuman Temple at Bauria was
conceptualized and consecrated by him
to fulfill the long standing wish of the
community at Bauria.
Gopal babu believed in encouraging

others to realize and attain their true
potential. He always encouraged
people to do whatever makes them feel
happy. Each day and every moment
one lived and breathed in was of
paramount importance, according
to him. He did not believe in keeping
regrets and believed that the most
opportune moment was NOW! He
always urged everyone to start the
journey to fulfill their latent desires and
dreams.
The best efforts of everybody changes from

moment to moment; it will be different when
we are healthy as opposed to when we are
sick. Under any circumstance, we should do
our best and avoid self judgment.
-Gopal babu
5
The
genesis
Gloster owes its origin to the inception in 1872

of the Jute Mill at Fort Gloster. With the dawn of
independence the Scottish owned and run company
was taken over by the Late P.D.Bangur and Late R.N.
Bangur, when the Bangurs took over the Managing
Agency of Kettlewell Bullen & Co. Ltd.
Gopal babu started looking after the various
companies of the Group at an early stage. He was
deeply involved in running the Jute Mills of
6
Gloster Limited
the diversified conglomerate of the House of the

Bangurs namely Fort Gloster, Hastings & Fort William.
With the passage of time he took over as Chairman
in early 80s and successfully navigated Gloster
through a very turbulent phase in the history of Jute
Mills in India. His efforts ensured that Gloster has
risen like a phoenix from the ruinous period, to be
recognized as the most dynamic Jute company in
the World.
"If you do not

act upon life,
life has a habit
of acting upon
you."
-Gopal babu
7
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.
Gloster has acquired for itself a reputation

that is unrivalled and is a true outcome of
its illustrious legacy. Under Gopal babus
Chairmanship Gloster has achieved
astronomical heights and is considered
the pioneer mill in jute industy worldover.
Gloster has been principally guided by
Gopal babus vision and his able guidance
has enabled the Company to successfully
mitigate the industry risks and volatile
conditions of the unpredictable jute
industry, in the past. In the process,
Gloster has created an enduring history
and become case-study material to be
archived as inspiration.
The company has a rich and diverse product

mix and has emerged as the one-stop shop for
jute products over the last few years. Products
include hessian, double warp cloth, sacking
cloth, tarpauline cloth, canvas cloth, scrim cloth,
Hessian bags, sacking bags, double warp bags,
lifestyle products, yarn, geo textiles, soil savers,
non-woven, jute tape, nursery liners and sheets
and other specialty downstream products.
vision
Gopal babu was the key catalyst in paving

Glosters transition from a mere corporate
entity to an unwavering establishment
and Gloster will remain forever indebted
and bound to his principles and legacy.
mission
Promote the principles of sustainability in

our operations and activities
Cater to the needs of customers all over

the world
Be committed to our workforce,

consumers, suppliers, shareholders and
other stakeholders, at large
Win recognition as a producer of quality

jute and allied products
Make our business a part of the society

and contribute to the welfare of the larger
community
Provide products at a competitive price

while delivering value
8
Gloster Limited
milestones
The companys journey
1872
1954
Inception of the mills
House of Bangurs took

over the mills
2002-03
1992
First phase of Modernization & Expansion

- Commissioning of Ananya Unit and
Power plant.
Jute division of House of

Bangurs carved out in the
Form of Gloster Limited
2007-13
Completed 3 more phases

of modernization
2013-14
Initiated 5th phase of

modernization
61 years of
qualitative excellence
In the 21st century, Gloster has charted

a growth trajectory that has been driven
by unwavering focus, uncompromising
quality, enduring values and the highest
level of ethical standards and operational
excellence. This aptly forms the foundations
of the Company's success.
At the heart of Gloster,

is a green conscience.
The company has
evolved beyond a
mere manufacturer
in becoming a green
manufacturer.
t
Encourages & supports cultivation of

Organic Jute
Installed effluent treatment plant having

re-cycling system for the effluents. The
processing system therefore does not
release any type of effluents to drains /
streams etc
Installed Electrostatic Precipitator to

collect & precipitate dust emissions
from the exhaust flue gases of boilers,
preventing environment air pollution
t
t
Installed Humidification plant
The installed boilers use jute process

waste as fuel instead of coal
Installed dust absorption and dust

suppression system
10
Gloster Limited
Installed overhead conveyor system for

drying wet processed fibre "Morahs" by
means of wind & solar energy in place of
steam drying.
Installed Voltaic Solar Panel System on

roof top to save Electricity
Kitchen & garden waste used to

generate bio-gas
Going
global
Gloster has significant international presence with exports

to countries such as USA, Australia, New Zealand, Japan,
Canada, and major European nations including UK,
Netherlands and Germany. With the development of new
products the company intends to tap new markets and
hopes to create greater waves on foreign shores.
[
11
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
Immortality of soul is the inevitable truth and

the only constant; the ability to live forever is
celebrated in the Bhagvad Gita. The journey
of a soul continues infinitely and only its form
changes.
The body depletes on finishing its life journey and
becomes one with the five elements, but the soul
is immortal and exists eternally and is replenished
with the birth of a new life.
We are all of the opinion that the end of the
earthly life of Gopal babu is truly not the end of
his legacy. He will continue to inspire us with his
ideals and vision and be the guiding force for the
company to achieve new pinnacles of success.
Jute as a biodegradable product continues its

lifecycle in some form or the other. Jute has the 3
Rs as the basis of its existence-Reduce, Replenish
and Recycle.
Jute springs in all its vitality from the earth,
provides precious raw material for superior
products, allows multiple use & recycling and
finally replenishes and organically enriches
the soil. It provides the basis for a benign
environment through its bio-degradable
properties and paves the foundation of a
sustainable community and business future. In
short, even at the end of its life cycle, jute, the
principal product of Gloster Ltd., continues to
enrich the soil to which it returns.
13
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%
Reserves Netorth includes Revaluaon Reserves arising on revaluaon o Fied ssets

Book Value Earning Per Share Cash Earning Per Share calculated on epanded Capital or all ears
14
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15
Distribution of Revenue for the year 2014-15

2.76%
Cost of Raw Material
50.61%
Mfg. & Other Expenses
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%
Distribution of Revenue for the year 2013-14

2.21%
Cost of Raw Material
50.93%
Mfg. & Other Expenses
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%
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23
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26
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NNEyhREIV dO dHE DIRECdORS REPORd

Form No MR
SECREdRI> hDId REPORd
FOR dHE FINNCI> YER ENDED Sd MRCH
WE
ZDWZ
d
dD
'>
^Z
<
/

D ' >
^

d D

/

D

/

D

d
d^Z^Z
Z
d Z

& D Z
28
Gloster Limited
ZK
/&/

d Z '
^ / ^/

d^/^
^dZ
d^/W
/dZ
d ^ / /
ZZ
d ^ /
^ K ^ ^ W
^'
d ^ / /
>Z
d^/Z
/^dZ
d^/
^Z
d^/
^Z
D

: W D h W

d:D
d
dE:
/
^ ^ d /
^ / Not noed during the period under
udit hence not applicale
d >
^ > ^ d ^ >
^

Z Z '
^
/
d
E
/ d

/

/

/

^

&M<B ssociates
^

D

E
Mano <umar Banthia

W
&^
KW

W<
29
NNEyhREV dO dHE DIRECdORS REPORd
FORM NO M'd
EydRCd OF NNh> REdhRN
&z
W^
DZ
RE'ISdRdION OdHER DEdI>S
/E
>tW>
Z
E
'>
^
W^

ZK

^Z<
W
&
t

E

Zd

DW>
D><
W
II PRINCIP> BhSINESS CdIVIdIES OF dHE COMPNY

Name and Descripon o main
productsservices
NIC Code o the productsservices
% to total turnover o the Compan
:W
131, 139
100%
III PRdICh>RS OF HO>DIN' ShBSIDIRY ND SSOCIdE COMPNIES

Sr
No
Name and address o the

compan
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)
Categorwise Share Holding
Categor o
Shareholders
No o Shares held at the eginning o the

ear (s on st pril )
Demat
Phsical
% o dotal
shares
dotal
No o Shares held at the end o the ear

(s on st March )
Demat
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
&/

Su total () (1):
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
Categor o
Shareholders
No o Shares held at the eginning o the

ear (s on 1st pril 1)
Demat
Phsical
% o dotal
shares
dotal
No o Shares held at the end o the ear

(s on 1st March 1)
Demat
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
'rand dotal (BC) 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
Shareholding at the end o the ear
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
iii Change in Promoters Shareholding

Sr
No
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
1 <elewell Bullen and Compan >imited
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
Madhav drading Corporaon >imited
Pushpa Devi Bangur
Vinita Bangur
dhe Cama Investment Corporaon

>imited
34
Gloster Limited
iv Shareholding Paern o top ten Shareholders ( other than Directors Promoters and Holders o 'DRs and DRs)
Sr
No
For Each o the dop 1 Shareholders
Shareholding at the eginning

Cumulave Shareholding
o
the
ear
during the ear
Shareholding
dransacon
% o total
% o total
Date
No o shares shares o the No o shares shares o the
compan
compan
1 >ie Insurance Corporaon o India

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
2 <B Capital Markets Pvt >td
3 Harimohan Bangur
4 Euanimit Realt Private >imited
Chetan Dhireshhai Shah
Sheth am Hai re Bham Waka
35
Sr
No

o
the
ear
during the ear
Shareholding
dransacon
% o total
% o total
Date
compan
compan
7 Benu 'opal Bangur
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
Saniv Dhireshhai Shah
Via <umar garwala
10 Bhar Shro
11
<eshav <umar <othari
36
Gloster Limited
Sr
No
12
13
14
15
16
17

o the ear
during the ear
Shareholding
dransacon
% o total
% o total
Date
compan
compan
Madan 'opal Bangur

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
hnited Commercial Bank
Prak Shailesh Shah
Champa Devi
Shoe Ismail :eewa
37
Shareholding o Directors and <e Managerial Personnel

o
the
ear
during the ear
Shareholding
Sr Shareholding o each Directors and each
dransacon
% o total
% o total
No
<e Managerial Personnel
Date
compan
compan
1
'opal Das Bangur Eecuve Chairman

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
2 Hemant Bangur Vice Chairman
3 Dharam Chand Bahe Managing Director
4 a <umar garwal Compan Secretar
Shankar >al <edia CFO
38
Gloster Limited
INDEBdEDNESS
`/
Indetedness o the Compan including interest outstandingaccrued ut not due or pament

Parculars
Secured >oans
ecluding deposits
hnsecured
>oans
Deposits
dotal Indetness
Indetedness at the eginning o the nancial ear

W
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
/
/
dotal (iiiiii)
Change in Indetedness during the nancial ear

Z
E
Indetedness at the end o the nancial ear
W
/
/
dotal (iiiiii)
VI REMhNERdION OF DIRECdORS ND <EY MN'ERI> PERSONNE>

`/
Remuneraon to Managing Director WholemeDirector andor Manager

Sr
No
1.
Parculars o Remuneraon
Shri 'opal Das Bangur Shri Dharam Chand Bahe

Eecuve Chairman
Managing Director
dotal
mount
'
^
/
75.49
67.97
s /
1961
8.30
9.80
11
W/d
1961
^K
^
35.00
40.00
11
11

5
K
dotal ()
E

39
B Remuneraon to other Directors
`/

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
K
&
1.00

3.96
Independent Directors
dotal B (1)
2
Shri
Shri S N
Dr Prair
<ruas
Bhaachara
Ra
Mahapatra
Other NonEecuve Directors
K
dotal B ()
dotal B (B1B)
dotal Managerial Remuneraon (B)
K
E

264.54
`/
C Remuneraon to <e Managerial Personnel other than MDManagerWdD

Sr
No
1
Shri a <umar garwal

Compan Secretar
Shri Shankar
>al <edia CFO
dotal
mount
^
/
21.38
14.25
35.63
s/
4.67
3.12
7.79
Parculrs o Remuneraon
'
W/d
2
^K
^
K
dotal
VII PEN>dIESPhNISHMENdCOMPOhNDIN' OF OFFENCES
dotal
mount
Shri
Hemant
Bangur
Parculars o Remuneraon
dD
40
Gloster Limited
NNEyhREVI dO dHE DIRECdORS REPORd

/^
Z
Conservaon o Energ
d
/
// /

>>
/// /^<s
W ^
<s
W ,
Z
dhe steps taken the Compan or uliing alternate

sources o energ:
/
/ d s ^ >
// /
B dechnolog sorpon
Eorts made towards technolog asorpon
/
Z > ^
Z>
// /
/// DdWdW
/s h

Benets derived
/
/
// /
/// Z
C Foreign echange earnings and outgo:

&
`
&
`
dhe capital investment on energ conservaon euipment

/
`
41
NNEyhREVII dO dHE DIRECdORS REPORd

PRdICh>RS OF EMP>OYEES
d

Z D W Z
(a) dhe rao o the remuneraon o each Director to the

median remuneraon o the emploees o the compan or
the nancial ear:
Eecuve Directors
^'

62.62
^
D
62.08
NonEecuve Directors
Rao to median
remuneraon
Rao to median
remuneraon
^,
2.61
Ê^
2.51
^Ê
1.71
^<D
2.61
WZ
2.24
D

() dhe percentage increase in remuneraon o each Director

Chie Financial Ocer Chie Eecuve Ocer Compan
Secretar or Manager i an in the nancial ear:
Name
% increase in
remuneraon in the
nancial ear 11
^'

^
D
14.79
^,
E
22.35
Ê^
/
17.42
^Ê
/
32.44
42
Gloster Limited
^<D
/
22.35
WZ
/
23.34
^<
^
24.77
^^><&K
13.10
(c) dhe percentage increase in the median remuneraon o

emploees in the nancial ear
3.60%
(d) dhe numer o permanent emploees on the rolls o
compan as on 1st March 1 is
4,369
(e) dhe eplanaon on the relaonship etween average
increase in remuneraon and compan perormance
W /

d
() Comparison o the remuneraon o the <e Managerial

Personnel against the perormance o the compan
Name
% increase in
Comparison o
remuneraon
remuneraon against
in the
the perormance o
nancial ear
the Compan
11
^'

^

D
14.79
^<

^
24.77
^^>
<&K
13.10
d
W
Z
D

D
W
/

(g) Variaons in the market capitaliaon o the compan

price earnings rao as at the closing date o the current
nancial ear and previous nancial ear and percentage
increase over decrease in the market uotaons o the
shares o the compan in comparison to the rate at which

the compan came out with the last pulic oer in case o
listed companies and in case o unlisted companies the
variaons in the net worth o the compan as at the close o
the current nancial ear and previous nancial ear
dWZ
D
Dd

WKW
(h) verage percenle increase alread made in the salaries

o emploees other than the managerial personnel in the
last nancial ear and its comparison with the percenle
increase in the managerial remuneraon and uscaon
thereo and point out i there are an eceponal
circumstances or increase in the managerial remuneraon
percenle ma e read as percentage

W

(i) Comparison o the each remuneraon o <e Managerial
Personnel against the perormance o the compan
Z
() dhe ke parameters or an variale component o

remuneraon availed the Directors
d
E

(k) dhe rao o the remuneraon o the highest paid Director

to that o the emploees who are not Directors ut receive
remuneraon in ecess o the highest paid Director during
the ear
E
(l) rmaon that the remuneraon is as per the remuneraon

polic o the compan
d
ZW
NNEyhREVIIB dO dHE DIRECdORS REPORd

Inormaon pursuant to Rule() o Chapter yIII o Companies (ppointment and Remuneraon o Managerial Personnel) Rules
1
d
Name
^'
Das Bangur
Nature o Yualicaons
Date o
Relaonship
>ast
and
Remuneraon emploment
% o euit
commencement ge
with other
emploment
eperience
Designaon Received
whether
shares held
o
(Years)
Directors
held
o the
(`)
contractual
emploment
or otherwise emploee

1,18,78,656
t
^
t
D
1,17,77,000

12.04.2000
01.04.1992
68
:
d
/
>
W
3.41%
&
^,
Bangur
67
&'
/
>
t
0.06%
43
CORPORdE 'OVERNNCE REPORd

INdRODhCdION
z '

d
'

'd

'
d

d
'
1
COMPNYS PHI>OSOPHY ON CODE OF 'OVERNNCE
z
'
^

z

' E

BORD OF DIRECdORS
COMPOSIdION ND CdE'ORY
/

d

d /

dD
^
W
WE
EWD
/E
^ D /

d

Name o Director
Categor o Directorship
Directorship in Other No o Board Commiees (other than

Companies (#)
'loster >td) in which Chairman
ChairpersonMemer
Chairman
Memer
Chairperson
^'
W
4
1
2
^,
WE
7
E
1
^D
/E
E
E
E
Ê^
/E
E
E
E
^<D
/E
E
E
E
WZ
/E
E
E
E
^Ê /E
E
E
E
^
EWD
3
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31st March, 1 D

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2007-08
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2008-09
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d:
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Outside India
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31st March, D 31st March, D 31st March, D
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^

3 Related Part Disclosures pursuant to reuirements o ccounng Standard 1

Names o Related Pares and nature o relaonship
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2013-14
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3 Statement providing addional inormaon, as reuired under Schedule III to the Companies ct, 13,
o enterprises considered or preparaon o the Consolidated Financial Statements
s at
31st March, 1
Name o the Ent
[Reer Note ( a ) elow
Net
ssets
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31st March, 1
s a % o
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Hemant Bangur
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Shankar >al <edia

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Form OC 1
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'loster Specialies >imited
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Part B : ssociates and :oint Ventures
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114
Gloster Limited
Shankar >al <edia

&K
a <umar garwal
^
Hemant Bangur
Nandita Sen
D C Bahe
s

D
NOdES
115
NOdES
116
Gloster Limited
117
CIN - L17119WB1992PLC054454
21 Strand Road, Kolkata 700001, West Bengal, India
T +91 33 2230 9601 | F +91 33 2210 6167, 2231 4222
E info@glosterjute.com | W glosterjute.com
118
Gloster Limited
www.advacomunique.com
GLOSTER LIMITED

Gloster 5385950315

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ANNUAL REPORT 2014-15

15th Nov, 1946 - 8th June, 2015

While Gloster went on to become a formidable

Gopal babu was the Chairman

A born philanthropist, throughout his life

Gopal babu was a peace-loving man

Gopal babu believed in encouraging

The best efforts of everybody changes from

Gloster owes its origin to the inception in 1872

the diversified conglomerate of the House of the

"If you do not

Gloster has acquired for itself a reputation

The company has a rich and diverse product

Gopal babu was the key catalyst in paving

Promote the principles of sustainability in

Cater to the needs of customers all over

Be committed to our workforce,

Win recognition as a producer of quality

Make our business a part of the society

Provide products at a competitive price

Inception of the mills

House of Bangurs took

First phase of Modernization & Expansion

Jute division of House of

Completed 3 more phases

Initiated 5th phase of

In the 21st century, Gloster has charted

Annual Report 2014-15

At the heart of Gloster,

Encourages & supports cultivation of

Installed effluent treatment plant having

Installed Electrostatic Precipitator to

Installed Humidification plant

The installed boilers use jute process

Installed dust absorption and dust

Installed overhead conveyor system for

Installed Voltaic Solar Panel System on

Kitchen & garden waste used to

Gloster has significant international presence with exports

Immortality of soul is the inevitable truth and

Jute as a biodegradable product continues its

Reserves Netorth includes Revaluaon Reserves arising on revaluaon o Fied ssets

Chie Financial Kcer

Registrar Share dranser gents

Registered dministrave Kce

Distribution of Revenue for the year 2014-15

Cost of Raw Material

Mfg. & Other Expenses

Distribution of Revenue for the year 2013-14

Cost of Raw Material

Mfg. & Other Expenses

DIVIDEND ND RESERVES

CHN'E IN NdhRE KF BhSINESS IF NY

MN'EMENd DISChSSIKN N>YSIS REPKRd

MdERI> CHN'ES ND CKMMIdMENdS FFECdIN' dHE

CKMMIddEES KF dHE BKRD

PRdICh>RS KF >KNS 'hRNdEES KR INVESdMENdS BY

For on ehal o the Board

NNEyhREI dK dHE DIRECdKRS REPKRd

MN'EMENd DISChSSIKN ND N>YSIS

Risk Concern dhreat

) Kpportunies and dhreatsRisks Concerns

Segmentise or productise perormance