GSB Finance Ltd Share Price

(511543)

Established in 1982, Bimex Mercantiles GSB Finance underwent a change in 1992, when it decided to set up a minicement plant, renaming the company to Ravi Cements. However, due to the recession in the cement industry, this plan was dropped. In 1993, the board was reconstituted with finance professionals, with G S Biyani appointed as Chairman. The company is now known as GSB Finance and is in the business of finance, investment, and trading in shares and securities. In 1994, it conducted a public issue to expand its fund-based activities. During the financial year 1998-99, the company posted a profit of Rs 35.88 lacs, as compared to a loss of Rs 54.43 lacs during the previous financial year. The company also plans to shift its registered office to Mumbai in order to achieve greater economy and efficiency in its operations. During the financial year 1999-2000, a change in accounting policies for inventory valuation resulted in a lowering of profits to the tune of Rs 124.74 lacs.