Goel Food Products Ltd - Stock Valuation and Financial Performance

The company was originally incorporated on January 31, 1996 as a Private Limited Company as “Goel Food Products Private Limited” vide Registration No. 21-76909 under the provisions of the Companies Act, 1956 with the Registrar of Companies, West Bengal. Subsequently, pursuant to a special resolution of its Shareholders passed in the Extraordinary General Meeting held on February 17, 2022, the Company was converted from a Private Limited Company to Public Limited Company and consequently, the name of the Company was changed to ‘Goel Food Products Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on February 25, 2022 by the Registrar of Companies, Kolkata.

The company was incorporated on January 31, 1996. Initially, it started as an Indian Snacks and Sweets Manufacturing Company. While being into the Indian snacks and sweets business for more than decade, the company deal with various event management company to whom it provided services of marriage and other incidental services. During this period, its promoters saw an opportunity in the catering and event planning industry and in the year 2009, the company opened its 1st banquet hall in Ultadanga, Kolkata and since then it has been growing in terms of its presence in Kolkata. From one location it has expanded to four locations in Kolkata and currently it has 8 banquets halls and 2 Indian sweets and snack shop and one hotel and one guest house. It provide services such as organizing events like Marriages, Sangeet, Ring Ceremony, Birthday Parties, Anniversary Parties, Kitty Parties, Corporate Events, Kirtans (Devotional Singing), Thread Ceremony at its banquets hall and it serve Indian snack and Sweets at its retail shop. It also generate rent income from its hotels and guest house, apart from the event management business. The company operates only in one city i.e., Kolkata.

The company’s skilled team does a spectacular job in customizing the decoration of the entire venue preparation of food and management of the entire event. The contemporary design and lighting inside the venue gives every event a chic vibe. The beautifully decorated banquet hall and excellent services with a pleasant ambiance makes its banquet hall a perfect venue for small- and large-scale weddings or pre wedding events. An additional open area is also provided for setting-up the food. There is a new trend growing i.e., destination weddings and the company sees a great opportunity which can be taken upon. The company has started wedding packages which includes the destination weddings. It provide Marriage packages wherein it provide hotel for the guest to stay and banquet hall. This gives an opportunity to the company to enter into hospitality sector as well.

Business area of the company

Goel Food Products engages in the business of manufacturing Indian Snacks and Sweets. The company provide services such as organizing events like Marriages, Sangeet, Ring Ceremony, Birthday Parties, Anniversary Parties, Kitty Parties, Corporate Events, Kirtans (Devotional Singing), Thread Ceremony at the banquets hall and serves Indian snack and Sweets at the company retail shop.

Major events and milestones

• 1996: Incorporation of the Company.
  
• 2009: Set up First Banquet Hall in Golaghata, Kolkata.
  
• 2009: Set up Second Banquet Hall in Golaghata, Kolkata.
  
• 2014: Set up Banquet Hall in Baguihati, Kolkata.
  
• 2020: Rented a Banquet Hall in Howrah, Kolkata.
  
• 2020: Rented a Second Banquet Hall in Howrah, Kolkata.
  
• 2020: Rented a Third Banquet Hall in Howrah, Kolkata.
  
• 2020: Opened its 1st Indian Snacks and Sweet Shop, Howrah, Kolkata.
  
• 2020: Rented a Fourth Banquet Hall in Howrah, Kolkata.
  
• 2020: Opened its 2nd Indian Snacks and Sweet Shop, Golaghata, Kolkata.
  
• 2022: Conversion of a Company from Private Limited to Public Limited.