Good Value Marketing Company Limited was incorporated in
 1979 and has been listed on the Bombay Stock Exchange since
 1980.  The Company is engaged in the manufacture and
 marketing of organic manures for use on various crops. The
 Company has the largest farm of earthworms in the country.
 By a unique proprietary method secretions are collected
 from the earthworms without harming them for use as liquid
 organic manures. The Company is also engaged in multiplying
 bacterial cultures, fungus culture and has conducted in
 depth research in the ancient vedic knowledge of the effect
 of Herbal extracts on the growth of plants. In January 1994,
 3 Group Companies viz, EcomaxAgro Systems Ltd.. Biosense
 Crop Protection (I) Ltd. and Good Value Agro Products Ltd.
 have merged with Good Value Marketing Company Limited to
 give a very wide manufacturing base and an extensive
 marketing and distribution network All-India.
 
 Since these Companies were not listed on any Stock Exchange
 and Market Value of the shares were not available, it was decided
 to merge the Companies on the basis of their Net Assets  value as
 on 31st July 1993. No revaluation ofAssets of any of the Companies
 was undertaken before or at the time of merger.
 
 The ratio of exchange of shares fixed was as follows:
 
 (I)Ecomax Agro Systems Ltd.:- 1:8
 
 i.e. one share of Good Value Marketing Company Ltd. for every
 eight shares of Ecomax Agro Systems Ltd.
 
 (ii)  Biosense Crop Protection (I) Ltd.:- 1:8
 
 i.e.  one share of Good Value Marketing Company Ltd., for
 every eight shares of Biosense Crop Protection Ltd.
 (iii) Good Value Agro Products Ltd.:- 1:5
 
 i.e. one share of Good Value Marketing Ltd. for every five
 shares of Good Value Agro Products Ltd.
 
 All the foreign collaborators of the merging Companies
 namely Micron Sprayers Ltd., Technoverde Ltd., Powerchute
 Systems International Ltd., Harley Paragliders, a division
 of Thunder and Colt Ltd.. and Russell Fine Chemicals.
 continue to be collaborators of the merged Company viz.
 Good Value Marketing Company Ltd.  Promoters of Good Value
 Marketing Company Ltd., merged Company, were holding the
 following shares in the merging companies.
 
 Company         Total  Promoter's Percentage  Good Value  No of  
 Manner of
          No.of shares  holding                Marketing   Shares 
 making offer
                                               Co. Ltd.'s  holders
                                           shares acquired
                                          by the Promoters
 (i)Ecomax Agro
 System Ltd. 1,40,02,000 43,76,896   31.26%    547112       40830 
 Pvt. Placement
 
 (ii) Bio Sense Crop
  Protection 
   (I)Ltd.   1,15,62,000 47,65,296   41.22%    595662       29409 
 Pvt. Placement
 
 (iii) Good Value 
  Agro Products 
 Ltd.        1,45,00,700 85,10,500    58.69%  1702100        4325  
 Pvt. Placement
 
 
 The above scheme was approved by The Bombay High Court on
 27.1.1994 in Company Petition no.598 of 1993.
 
 The brief history of the merged Companies is as follows :-
 
 1. Biosense Crop Protection (India) Limited (BCPL):
 
 The erstwhile BCPL was incorporated on 27th March, 1992. It
 has entered into foreign collaborations [(a) & (b) below]
 duly approved by Reserve Bank of India and are as under:
 
 a) Technoverde Limited of U.K. for manufacture of Bio-Pesticides.
 
 b) Russell Fine Chemicals, U.K.,for the manufacture of
 Biological crop protection products, viz. lures and traps.
 
 c) National Chemical Laboratory, Pune, Government of India
 for production of Neem based insecticides.
 
 The erstwhile BCPL has production centre at Vithalwadi,
 Opp.  Railway Station, near Bombay, for manufacturing
 Bio-Pesticides. It has also a factory at Daman for the
 production of Pheromone Traps.  BCPL has acquired land at
 Musarne (7 acres) and Wadwali ( 5 acres) in Wada Taluka,
 Dist. Thane for putting up new factories and for expansion
 of capacity.
 
 The Company has an installed capacity of one million Lures
 per annum, and two lakhs nos. per annum of Pheromones
 Traps. The field of Agro Biological is an important and
 fast growing industry to cater to the farmers demand of
 Chemical free farming. Its products are well received in the
 market.
 
 2. Ecomax Agro Systems Limited (EASL):
 
 The erstwhile EASL was incorporated on 16th December, 1991.
 Thereafter the Company has put up production facilities and
 marketing infrastructure as detailed below.
 
 Foreign Collaborations duly approved by RBI:
 
 a) Micron Sprayers Limited, U.K. for manufacture of Control
 Droplet Applicator (CDA) Sprayers for efficient crop
 spraying.
 
 b) PowerChute Systems International Ltd., U.K. for the
 manufacture of small aeroplane. This aeroplane will be
 made by Ecomax in India and it is an inexpensive way
 and a safe way to fly. The aeroplane is approved by Civil
 Aviation Authority of U.K. as a powered hang glider and
 in-principal clearance has been obtained from D.G.C.A.,
 India.
 
 c) Harley Paragliders, a Division of Thunder and Colt Ltd.
 U.K. for making the wings for the aeroplane.
 
 Production Facilities:
 
 The erstwhile EASL has set up production facilities at four
 centres They are Ahmednagar, Nare (Wada Taluka, Thane
 District), Daman and Vithalwadi.
 
 Ahmednagar : This factory is manufacturing Neemax which
 is neem based organic manure with insecticidal properties.
 The existing installed capacity is 500 tons and proposed to
 be increased by another 500 tons.
 
 Nare (Dist. Thane): EASL has a factory admeasuring 70,000 sq.
 ft. for the production of plastic components for the CDA sprayers
 and manufacture of Powerchute and Paragliders. Proposed installed
 capacity for manufacturing aeroplanes is 200 nos. per annum
 
 Daman: EASL has secured one readymade industrial gala at
 Kachigam Daman, it has also secured a plot of land which
 can construct 30,000 sq. ft. factory at Bhimpur in Daman.
 The Kachigam unit is equipped and has started manufacturing
 CDA sprayers. The advantage to the Company arising out of
 this unit will be complete tax holiday for 5 years from the
 date of commencement of production. Proposed installed
 capacity for this product will be 50000 Sprayers.
 
 Vithalwadi: EASL has 10,000 sq.ft. of built up industrial
 space which is being utilised for the manufacture of Spray
 Test Papers currently.  Total installed capacity is one
 billion Nematodes per day.
 
 Marketing Infrastructure:
 
 The erstwhile EASL has established offices at Thane,
 Calcutta, Hyderabad, Bangalore, Jaipur, Guntur, Coimbatore,
 Chandigarh and New Delhi. It has recruited qualified staff
 and Regional Managers and have appointed the C & F Agents
 at above places.
 
 The marketing organisation is geared for selling all types
 of products used in agriculture. It is an effective
 organisation to sell all the products of the Company. The
 products are applied for spraying liquid organic manures in
 farming.
 
 3. Good Value Agro Products Limited (GVAPL):
 
 The erswhile GVAPL was incorporated on 8th January, 1993.
 It has procured large plots of land at Ambiste, Dist. Thane
 for setting up an integrated dairy complex and has procured
 different types of machinery for the production of milk
 products and manures.  Proposed capacity of production of
 milk products and manures are ten thousand tons per annum.
 These milk products are used for production of ghee.
 cheese, paneer etc. The factory building is in advanced
 stage of construction and imported machinery and equipment
 from Alfa Laval, Sweden has been received and is awaiting
 installation. Imported plant and machinery from Alpha-
 Laval, Sweden includes milk parlour, milking machine,
 automatic feed unit & computerised controls. Its production
 facilities will help to increase the production and sale of
 the profitable lines of the Good Value Marketing Company
 Limited. Total cost of project for dairy complex is
 estimated at Rs 28 crores out of which Rs. 26.5 crores is
 already incurred by the Company and balance of Rs. 1.5
 crores is to be financed from the proceeds of the rights
 issue.
 
 Financial Highlights of the Erstwhile merging Companies as
 on 31st July '93 are as under:-
 
                                          (Rs. in lacs)
 
                   Ecomax      Biosence      Good Value
                     Agro          Crop            Agro
                  Systems    Protection        Products
                      Ltd.  (India) Ltd.            Ltd.
 
 Share Capital     1400.20     1156.20           1450.07
 Share Application    -           -               586.47
 Money Refundable
 to Director
 Secured Loans       37.64      150.00               -
 Fixed Assets       776.80      252.12             68.16
 Investments        350.01      330.00
 Current Assets     442.00      720.00             45.87
 
 Note :- The erstwhile Companies had not commenced
 commercial production as at 31st July, 93 and hence no
 Profit & Loss Accounts have been prepared.
 
 The Merged Company Good Value Marketing Company  Limited:
 
 All the Companies have worked in the field of non-toxic,
 ecological agriculture which are complimentary to each
 other and for the same markets i.e. farm inputs and
 therefore to take the benefit of synergy and operation of
 all of them will go to build up a strong combined Company.
 
 With the merger the Company now has 5 Foreign
 Collaborations, 7 Factory locations, country-wide network
 of marketing and sales and a pool of technical and
 managerial talent and is poised for quantum growth in the
 coming years.
 
 2010
 
 -Registered Office of the Company has been shifted from Mohammedi
 House, G-3, Gr. Floor, 35 B St. Martins Road, Bandra (West), Mumbai
 400050 to 3rd Floor, Industrial Assurance Building, Churchgate,
 Mumbai 400020.