Golkonda Aluminium Extrusions Ltd
GOLK

Golkonda Aluminium Extrusions Ltd (513309)

₹22.52.18%

Key Stats

₹22.45
Day's Price Range
₹24.15
₹11.4
52-Week Price Range
₹27.3
1 Month Return-6.32 %
3 Month Return9.78 %
1 Year Return36.49 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 296
EPS
Rank 300
BVPS
Rank 319
Dividend Yield
Rank 180
ROE
Rank 629
-2.75%
Price To Book Ratio
Rank 260
Debt To Asset
Rank 319

Company Information

The Hyderabadbased Pennar Profiles PPLis a part of the Pennar group. The other major companies in the group include Pennar Aluminium Pennar Patterson Securities and Pennar Steel. In Dec.93 the management of the company was taken over by the Pennar group. With effect from Mar.94 the name of the company was changed from Progressive Aluminium to Pennar Profiles PPL. PPL manufactures aluminium extrusions 70 of which is used in architecture and the remaining 30 goes to general industrial customers. These extrusions find application in white goods electronics consumer durables telecommunication floriculture sheds and button mushroom projects. It has reputed clients such as Eureka Forbes Kirloskar Gujarat Vacuum Coaters etc.PPL exports 25 of its production to the UK and Germany. It has an export tieup with Metallgesellschaft Germany. It has increased production from 350 tpa to 600 tpm cost : Rs 4.50 cr. PPL also produces irrigation sprinkler systems. During the year 199596 the company has completed modernisation expansion. 900 Tonne extrusion press was installed the capacity of connected handling equipment was increased from 350 TPM to 500 TPM. It also made a Rights issue of 407000 nonconvertible debentures of Rs 100 each for cash at par with detachable equity warrants in the ratio of 1:1 to be exchanged with equity shares of Rs 10 each at a premium of Rs 5 per share.During 199697 the company has been accredited with ISO 9002 certification by KPMG Peat Marwick LLP USA.Due to continued financial difficulties and incurred losses in the year 199899 the company is declared as a Sick company by BIFR and has appointed Industrial Finance Corporation of India Limited IFCI as the Operating Agency for rehabilitation. The companys proposal to obtain financial assistance through External Commercial Borrowing ECB due to its high export performance in the international market did not materialise due to nonavailability of lenders guarantee. Subsequently O S Metallhandel GmbH OSMG a German company active in trade of aluminium extrusions showed interest in the revival of the company and has offered to undertake exports of aluminium extrusions manufactured by the company upto 400 tonnes per month.The rehabilitation scheme prepared by IFCI approved by the Board and submitted to BIFR recommends induction of OSMG which is part of the group whose flagship company is Danmetal A/S Denmark as a copromoter and waiver of entire outstanding interest dues payable to Financial institutions and banks through reliefs and concessions. Pending BIFR sanction other measures are one time settlement of dues towards FIs and banks amounting to Rs.164 million payable in three annual instalments including upfront payment reduction in equity share capital part conversion of loan into equity. It has also recommended investment by OSMG and their associates to the tune of Rs.59.8 US 1.30 million of which Rs.32.2 million will be towards equity and the balance as unsecured loan which has been agreed to by OSMG.
OrganisationGolkonda Aluminium Extrusions Ltd
HeadquartersNew Delhi
IndustryNon Ferrous Metals