When Garware Polyester, one of the largest manufacturers of polyester films, was looking to perform valuation for its ethanol manufacturing plant, it shook hands with VGK Trueman Consultancy, a pioneer in large asset valuation.

Garware Polyester's DMT (Dimethyltryptamine) plant was operational for 25 years. Foreseeing the reduction of DMT products demand, the company converted the entire plant into ethanol manufacturing unit in 2010-2011. But unfortunately, petroleum companies were not ready to purchase ethanol in huge quantities, which further put the entire changeover of the plant in vain. As a consequence, the plant went into the state of dilapidation (not used for production of DMT/ethanol). VGK was appointed to perform valuation for the same.

"We valued the property and used estimation methodology to calculate the salvage value of the entire plant. Our valuation projected that the gross block for plant is very high and it is not producing at all and hence of no use," professes Girish. This gave Garware Polyester exact value of their manufacturing plant and further helped it to take right decision. VGK has earned a name in the valuation industry due to consistent efforts. From handful of clients, it has grown through word-of-mouth publicity. maintains business ethics, truthfulness & confidentiality and

follows strict industry norms. No wonder, State Bank of India is associated with VGK from day one and giving it good exposure in almost every field.

Furthermore, VGK specializes in funding as well as bad debts recovery cases under SARFAESI ACT 2002/DRT courts/NCLT and asset reconstruction companies. VGK make a perfect choice for majority of banks/Courts. Many of the intricate issues in balance sheets, legal documents, statutory compliances and its impact on valuation are taken into consideration via its due-diligence service.

We have utilized satellite mapping services for the first time in India to demarcate the large land parcels in rough terrains and remote & naxal areas

Currently, VGK is working on seven assignments for corporates (NCLT cases). NPA cases demand faster realization of the assets. VGK is sensitive to actual commercial transactions taking place and maintains a large database of current transaction, trends, changes in government policies, and development in the surrounding areas. It takes into consideration location advantages & disadvantages, deterioration chances and cost & income methods for NPAs. This is how the company has successfully realized around Rs.550.00 crore as an enforcement agent firm from manufacturing companies.

The company that currently offers valuation and arbitration services in the overseas market is looking forward to enter into partnership in Canada and UAE for similar services. "We believe in word-of-mouth publicity and our strict professional ethics is a key for long term business partnerships. We strive to serve like a super-specialist rather than just doing routine assignments," concludes Girish.