Morarka Finance established on March 15, 1985 promoted by G R Morarka and a Dwarikesh Group company that manages a host of successful companies in areas as diverse as sugar, power, distilleries, ethanol production, agriculture production, media and information technology.
Morarka Finance was originally incorporated as Morarka Holdings Limited vide certificate of Incorporation No. 11-35632 dated March 15, 1985 with Registrar of Companies, Maharashtra at Mumbai and received the Certificate for commencement of business on March 15,1985. The name of the Company has been changed to Morarka Finance Limited on May 28, 1993.
The company commenced its business in 1985 with an initial capital of Rs. 44 Lacs identifying investment activities (Trading and marketable securities) as its core business. The same continued to be the sole activity until 1992 when the Company made a foray into other related activities including Merchant Banking and OTCEI trading.
The capital base was also enhanced to Rs 157 lakh in the year 1993-94 to meet the requirements of its expanded business. The company also worked as a Category II Merchant Banker and in that capacity provided its services in the capacity of co-manager for some of the Public Issues. The company has underwritten over Rs. 7 crore worth of issues. At times the company also worked as an authorized agent of the American Express Bank for the issue of travelers cheques. The company was also holding a license from the RBI and is totally debt free.
The company made its Initial Public Offer of equity shares in 1994 to augment resources to meet the needs of its planned growth, which was a major success. The sompany’s shares are listed on the Bombay Stock Exchange (BSE).
The rise in the profits of Morarka Finance can be attributed to the increase in revenue and decrease in operating expenses. Operating efficiencies and no interest payout supplemented by better management for controlling the cost and efficient working capital management has resulted in an impressive growth in profit in this year and also in the future.
Business area of the company spreads to