Gujarat State Financial Corporation Share price

The Corporation was established on May 1 1960 byGovernment of Gujarat under the SFC Act. Set-up to promoteindustrial development in the state of Gujarat andencourage balanced regional growth the Corporation hasextended financial assistance for varied economicactivities.The Corporation has been the catalyst of industrialdevelopment in the state and has provided assistance forrapid development of small-scale industries. Itsassistance has been instrumental in the emergence of awhole new class of entrepreneurs in Gujarat. TheCorporation has evolved various tailor made schemes forproviding long-term finance to industry and trade. A largenumber of units have been financed in rural and backwarddistricts of the state.Starting in the year 1960-''61 with sanctions for 13applications for an aggregate amount of Rs.38 lacs theCorporation sanctioned financial assistance of Rs.30641lacs to 1271 applicants during the financial year1995-''96. It is estimated that the impact of theCorporation''s assistance has catalysed investments ofRs.602649 lacs since inception and generated employmentfor 622647 persons. A perspective of the growth of theCorporation and its impact is provided below -------------------------------------------------------------Year Gross sanctions Cumulative Cumulative during gross gross sanctions the year sanctions - amount Amt (units) (Rs. in lacs) (Rs. in lacs) ------------------------------------------------------------1961 38 13 38 1971 850 4042 2706 1981 4534 16308 26514 1991 21534 34664 126965 1992 28252 37522 155217 1993 21974 39473 177193 1994 23118 41049 200309 1995 23944 42408 224253 1996 30641 43679 254894 ------------------------------------------------------------------------------------------------------------------------Year Gross sanctions Impact of Impact of during assistance assistance the year Project Cost employment Amt (Rs.in lacs) (no. of people (Rs. in lacs) employed)------------------------------------------------------------1961 38 - -1971 850 758 -1981 4534 9984 243541991 21534 46500 381161992 28252 59700 411701993 21974 47880 275471994 23118 51086 353131995 23944 57562 251871996 30641 91702 28817------------------------------------------------------------The important social role of the Corporation to theequitable social development of the state can be gauged bythe fact that loans to units located in backward districtscomprise 41% by amount of cumulative net sanctions andloans to rural areas comprise 52% by amount of cumulativenet sanctions. The Corporation has done this whilesignificantly improving its profitability during the pastfive years.