MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARIXIT
INDUSTRIES LIMITED |
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Registered
Office : |
Plot No 4912,
Phase –IV, GIDC, Vatva. Ahmedabad – 382445, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2005 |
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Date of
Incorporation : |
23/08/1989 |
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Com. Reg. No.: |
04-12672 |
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CIN No.: [Company
Identification No.] |
U25200GJ1989PLC012672 |
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Legal Form : |
Closely held
public limited liability company |
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Line of
Business : |
Manufacturers of
Drip Irrigation Systems, Sprinkler Systems, HDPE/PVC Pipes, all kind of
Compression Fittings, Valves & accessories useful in agriculture and
allied industries for water, sewerage, effluents, gas and chemical carrying
applications and has earned excellent reputation all over India. |
RATING &
COMMENTS
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MIRA’s Rating
: |
Ba |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Maximum Credit
Limit : |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered
Office Factory : |
Plot No 4912,
Phase –IV, GIDC, Vatva. Ahmedabad – 382445, Gujarat, India |
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E-Mail : |
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Website : |
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Corporate
Office : |
706, Silver Oaks, Near Mahalakshmi Cross Roads, Paldi ,
Ahmedabad. |
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Tel. No.: |
91-79
– 65318121 (10 lines) |
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Fax No.: |
91-79
- 65318125 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Amrutbhai I.
Patel |
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Designation : |
Chairman and
Managing Director |
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Address : |
259, Lane No 14
Satyagrah Chhavni, Satellite Road, Ahmedabad |
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Date of
Birth/Age : |
20/07/1949 |
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Date of
Appointment : |
Since
Incorporation |
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Name : |
Mr. Parixit A.
Patel |
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Designation : |
Director |
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Address : |
259, Lane No 14
Satyagrah Chhavni, Satellite Road, Ahmedabad |
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Date of
Birth/Age : |
01/08/1976 |
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Date of
Appointment : |
Since
Incorporation |
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Name : |
Mr. Vijayabhai A.
Patel |
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Designation : |
Director |
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Address : |
259, Lane No. 14
Satyagrah Chhavni, Satellite Road, Ahmedabad |
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Name : |
Mr. Mahendrabhai
M. Shah |
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Designation : |
Director |
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Address : |
210, “ Samir Complex”
Opposite Mumbai Market, C. G. Road, Navrangpura, Ahmedabad, Gujarat, India |
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Date of
Birth/Age : |
23/08/1957 |
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Date of
Appointment : |
06/12/2004 |
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Name : |
Mr. Jagdishbhai
M. Barot |
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Designation : |
Director |
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Address : |
Sector 8- Plot –
664, Gandhi Nager, Pin- 3820087 |
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Date of
Birth/Age : |
23/07/947 |
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Date of
Appointment : |
06/12/2004 |
BUSINESS DETAILS
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Line of
Business : |
Manufacturers of
Drip Irrigation Systems, Sprinkler Systems, HDPE/PVC Pipes, all kind of
Compression Fittings, Valves & accessories useful in agriculture and
allied industries for water, sewerage, effluents, gas and chemical carrying
applications and has earned excellent reputation all over India. |
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Products : |
Item Code No Product Description 893917 Pipes and Fitting 842410 Sprinkler Drip |
PRODUCTION STATUS
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Ball Valves |
Nos |
25000 |
171 |
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Pipes |
Mtrs. |
12500 |
679145 |
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Fittings |
Nos |
200000 |
33127 |
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Drip Set |
Sets |
5000 |
2041 |
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Sprinkler Set |
Sets |
10000 |
11427 |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No of
Employees : |
About 250 |
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Bankers : |
UTI Bank Limited |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
D. V. Dave and
Company Chartered
Accountants 203 centaur
Complex, Navrangpura, Ahmedabad - 380009 |
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Tel. No.: |
91- - 26422557 |
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Associates : |
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CAPITAL STRUCTURE
Authorised
Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10 each |
Rs. 30.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Issued
Capital |
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2731100 |
Equity Shares |
Rs. 10 each |
Rs. 27.311 millions |
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Subscribed
Capital |
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2731100 |
Equity Shares |
Rs. 10 each |
Rs. 27.311 millions |
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Paid-up
Capital |
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2731100 |
Equity Shares |
Rs. 10 each |
Rs. 27.311 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
27.311 |
19.411 |
19.411 |
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2] Share Application
Money |
5.350 |
0.000 |
3.000 |
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3] Reserves &
Surplus |
63.815 |
58.972 |
58.387 |
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NETWORTH
|
96.476 |
78.383 |
80.798 |
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LOAN FUNDS |
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1] Secured Loans |
76.933 |
63.105 |
50.366 |
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2] Unsecured
Loans |
22.485 |
26.476 |
11.420 |
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TOTAL BORROWING
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99.418 |
89.581 |
61.786 |
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DEFERRED TAX
LIABILITIES |
|
2.191 |
1.260 |
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TOTAL
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195.894 |
170.155 |
143.844 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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60.822 |
61.445 |
55.372 |
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Capital work-in-progress
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INVESTMENT
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0.572 |
0.572 |
0.572 |
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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44.552
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34.599 |
27.411 |
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Sundry Debtors
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130.432
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115.195 |
102.745 |
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Cash & Bank Balances
|
12.727
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6.813 |
3.457 |
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Loans & Advances
|
10.475
|
4.368 |
5.105 |
Total Current Assets
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198.186
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160.975 |
138.718 |
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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61.281
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51.736 |
49.608 |
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Provisions
|
2.405
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1.101 |
1.210 |
Total Current Liabilities
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63.686
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52.837 |
50.818 |
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Net Current Assets
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134.500
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108.138 |
87.900 |
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MISCELLANEOUS EXPENSES
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-- |
-- |
-- |
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TOTAL
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195.894 |
170.155 |
143.844 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other
income]
|
304.454 |
154.210 |
144.194 |
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Profit/(Loss) Before Tax
|
9.495 |
4.089 |
3.794 |
Provision for Taxation
|
1.800 |
0.600 |
0.300 |
Profit/(Loss) After Tax
|
7.695 |
3.489 |
3.494 |
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Export Value
|
0.494 |
NA |
NA |
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Total Expenditure
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294.950 |
150.121 |
140.401 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
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(%)
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2.527
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2.262 |
2.423 |
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Net Profit Margin
(PBT/Sales) |
(%) |
3.118
|
2.651 |
0.026 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
3.657
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1.833 |
1.949 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.098
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0.052 |
0.046 |
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Debt Equity Ratio
(Total
Liability/Networth) |
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1.690
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1.816 |
1.393 |
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Current Ratio
(Current
Asset/Current Liability) |
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3.112
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3.046 |
2.729 |
LOCAL AGENCY
FURTHER INFORMATION
OPERATIONS :
During the year
under review, the company achieved sales of Rs. 296.542 millions a rise of 97%
against Rs. 150.640 millions in the previous year. The company has handles the
challenges that come in its way during the year and have contained the impact of the same on the result of the
company.
ISO CERTIFICATION
The company is ISO
9001 and ISO 14001 Accredited. It will help company to get the business from
multinational company and for export.
FUTURE PROSPECTS
Drip and sprinkler
irrigation industries are in boom government is providing lot of funds for drip
and Sprinkler Irrigation project Government of Andhra Pradesh has lauched a
project of MIP of rs. 12500 millions. The company has got the order of supply
of Rs. 500 millions under this project. Moreover Government of Maharashtra has
launched project of Rs. 22500 millions and Government of Gujarat has also
planned a project of Rs. 1250 millions. More
and more state has realize the important of Drip and Sprinkler Irrigation
and are making provision of fund in their budget. The company has is one of the
supplier of the seven supplier selected by the Government for supply of Drip
and Sprinkler Irrigation system. The director expect bright future of the
company.
The company product
Sprinkler /Drip set, valves, pipes and fitting continues to command good
reputation in terms of quality in the local as well as other states. The company continues to
receive, repeated orders from established companies
The company has got
good orders for larger dia pipes and PLB Ducts and hope that will get good
business for larger dia pipes and PLB Ducts in future.
Looking to the
infrastructure development, there is huge demand for HDPE pipes in water supply
Board and Authority of various States.
FINANCE
During the year
under review, company has obtained financial assistance from U.T.I. Bank
Limited By way of working capital, term loan and bank guarantee aggregating to
Rs. 110 millions.
|
FORM NO. 8 Registration No of Company 04-12672 THE COMPANIES ACT, 1956 Nominal Capital
Rs. 30.000 millions
FORM NO. 8 Filing Fees Rs.
300 Created by a company registered Particular of charges : Subject to which properly has been Modification of charges (Pursuant to sections 125/127/135) Name of the
Company PARIXIT INDUSTRIES LIMITED Presented by
Mr. SHRI AMRUTBHAI PATEL,
DIRECTOR |
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Memorandum of
Entry dated 31.03.2005 |
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Rs. 110.000
millions only Facility Rs. In Lacs Cash Credit 80.000 millions Term Loan 5.000 millions Bank
Guarantee 25.000
millions
-----------------
110.000 millions
---------------- |
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Equitable
Mortgage is created in respect of Immovable properties of the company as
mentioned below. Non agricultural
freehold property office No.706 & 806, Adm 735 sq.fts and 540 sq. fts.
Respectively In Silver Oak Commercial Complex of Emerld Green Association
Bearing sub plot no3-B, of final plot
No. 985 3-B T. P. Scheme no 3 situated and lying at Mouje Paldi, Tal. City in
the registration district, sub district of Ahmedabad. Non agricultural
constructed leasehold property of shed No 3825 adm 1526 sq. mtrs with
construction thereon in Vatva Industrial Estate Phase IV of GIDC, bearing R S
No. 332 and 333 part situated, lying and being at Registration district of
Sub District of Ahmedabad and also on non agricultural constructed Leasehold
Property of Shed No. 4912 and 1874 sq. mtrs with construction thereon in
Vatva Industrial Estate – Phase IV of GIDC, bearing Survey No. 334 part, being
at Mouje: Ramol, in Taluka Dascroi, in the Registration District subject
district of Ahmedabad Semi Government body or authority. Whatsoever including
those relating to the asset leased out and or given on hire purchase basis |
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Interest will be
charged at BPLR + 1.50% p.a. (Presently PLR is
12%) for both term loan and cash credit facilities. |
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UTI Bank Limited Law Garden,
Ahmedabad |
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Memorandum of
entry i.e. equitable mortgage of despite of title deeds dt 02/06/2005 |
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The said charge
was further extended over the properties as mentioned in second, fourth,
sixth and eighth schedule annexed hereto. |
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Memorandum of
Entry dated 31.03.2005 |
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Rs. 110.000
millions only Facility Rs. In Lacs Cash Credit 80.000 millions Term Loan 5.000 millions Bank
Guarantee 25.000
millions
-----------------
110.000 millions ---------------- |
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Equitable
Mortgage is created in respect of Immovable properties of the company as
mentioned below. Non agricultural
freehold property office No.706 & 806, Adm 735 sq.fts and 540 sq. fts.
Respectively In Silver Oak Commercial Complex of Emerld Green Association
Bearing sub plot no3-B, of final plot
No. 985 3-B T. P. Scheme no 3 situated and lying at Mouje Paldi, Tal. City in
the registration district, sub district of Ahmedabad. Non agricultural
constructed leasehold property of shed No 3825 adm 1526 sq. mtrs with
construction thereon in Vatva Industrial Estate Phase IV of GIDC, bearing R S
No. 332 and 333 part situated, lying and being at Registration district of
Sub District of Ahmedabad and also on non agricultural constructed Leasehold
Property of Shed No. 4912 and 1874 sq. mtrs with construction thereon in
Vatva Industrial Estate – Phase IV of GIDC, bearing Survey No. 334 part,
being at Mouje: Ramol, in Taluka Dascroi, in the Registration District
subject district of Ahmedabad Semi Government body or authority. Whatsoever
including those relating to the asset leased out and or given on hire
purchase basis |
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Interest will be
charged at BPLR + 1.50% p.a. (Presently PLR is
12%) for both term loan and cash credit facilities. |
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UTI Bank Limited Law Garden,
Ahmedabad |
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NA |
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NA |
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Deed of
Hypothecation, dated 10/09/1998 |
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Rs/ 88.300
millions |
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All that stocks
in trade, vis. Raw materials, semi finished goods, finished goods products,
articles lyring at factory premises
at plot No. 4912 and 3825, phase IV, GIDC, Ahmedabad 382 443. All that plant
and machineries together with spare parts, tools, equipments etc.
installed and or to be installed at
the factory premises at plot No. 4912 and 3825, Phase IV, GIDC Valwa,
Ahmedabad 382 443 All the present
and future book debts arising out of in respect of supply/sale of goods to
various customers in course of business of the company. |
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Interest @ 17.5%
& 16.5% p.a. respectively Margin I) 30% on stocks and plant &
machineries II) 40% on Book Debts. Repayment on
demand. |
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The Ahmedabad
Mercantile Co. operative Bank Limited, Vatwa Branch, Ahmedadad. |
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Supplementary
Agreement of Hypothecation to secure additional / further demand cash credit
dated 18/12/1999 |
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An aggregate
adv./credit facilities of Rs. 88.500 millions for which charge was registered
on 18/09/1998 has now been increased to Rs. 113 millions and except the same
all other terms and conditions remain the same. |
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Deed of
Hypothecation, dated 29/12/2003 |
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Rs/ 6.000
millions |
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All those plant
and machinery etc. details of which are given in the list annexed hereto and
initialize by the borrowers and which are brought into stored. Installed or
be in or about the borrowers premises at plot No. 4912 and Plot No. 3825
phase IV, GIDC Vatwa, Ahmedabad 382 445 and wherever else the same may be
including and such goods in course of
transit of delivery. |
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Interest @ 13.5%
p.a. respectively Margin 30% Repayment on
demand. |
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The Ahmedabad
Mercantile Co. operative Bank Limited, Vatwa Branch, Ahmedadad. |
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NA |
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NA |
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Memorandum of
Equitable Mortgage by deposit of Title Deeds. Dated 01/09/2000 |
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Angreate advance
/credit facilities of Rs. 113.000 millions |
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All that piece or
parcel of leasehold land together with superstructure being plot / shed No.
4912. adm. 1814 sq. mtrs. Standing thereon and bearing revenue survey No. 334
(Paiki) Mouje Ramol of Dascroi Taluka in the registration district and
sub-district of Ahmedabad and situated with in vatwa Industrial estate, Phase
– IV GIDC Vatwa, Ahmedabad All that piece or
parce of leasehold land togetherwith superstructure being plot / shed No.
3825 adm . 1526 sq. mtrs. Standing thereon and bearing revenue survey No. 332+333 Mouje Ramol of Dastroi Taluka
in the registration district and
sub-district of ahmedabad and
situated with in Vatwa Industrial Estate. Phase IV GIDC Vatwa Ahmedabad. |
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The above assets
have been secured by way of equitable
mortgage charge as security for the said amount. |
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The Ahmedabad
Mercantile Co. operative Bank Limited, Vatwa Branch, Ahmedadad |
|
Deed of
confirmation Memorandum of
equitable mortgage by way of deposit of title deeds both dated 29/12/2003 |
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The above assets
viz mentioned at column No. 3 hereinabove belonging to the company already
secured for the principal charge of Rs. 113.000 filed on 07/09/2000 has now
been secured for revised advance / credit facilities of Rs. 103.000 millions
instead of Rs. 113.000 millions. The company
agrees confirms and covenant with the Ban that all the security documents
already executed by them infavour of the bank for the said aggregate advance / credit facilities of Rs. 113.000 shall not be
effected by renewing / revising / canceling and interchanging the said
revised advance /credit facilities up to Rs. 103.000 millions instead of Rs.
113.000 and shall be binding and operative to them. The company has
also given additional properties being all that undivided proportionate share
in the piece or parcel of land bearing sub plot No. 3/8 of final plot no 985
of T. P. S. No. 3 of Mouje Paldi of City Taluka in the registration district
of Ahmedabd and sub district of Ahmedabad
- 4 together with superstructure being I) office no.
706, on the seventh floor, admesuring 735 sq. fts. And II) office No. 806, on
the eighth floor, admeasuring 39.5 sq. mtrs in a complex known as silver days
standing thereon and situated within EMERALD GREEN ASSOCIATION opposite Arun
Society, Near Mahalaxmi Char Rasta, Paldi, Ahmedabad 380 007 as additional
security by way of equitable mortgage charge for said revised advance /
credit facilities of rs. 103.000 millions |
|
|
|
|
Memorandum of
Equitable Mortgage by deposit of Title Deeds. Dated 01/09/2000 |
|
Angreate advance
/credit facilities of Rs. 113.000 millions |
|
All that piece or
parcel of leasehold land together with superstructure being plot / shed No.
4912. adm. 1814 sq. mtrs. Standing thereon and bearing revenue survey No. 334
(Paiki) Mouje Ramol of Dascroi Taluka in the registration district and
sub-district of Ahmedabad and situated with in vatwa Industrial estate, Phase
– IV GIDC Vatwa, Ahmedabad All that piece or
parce of leasehold land togetherwith superstructure being plot / shed No.
3825 adm . 1526 sq. mtrs. Standing thereon and bearing revenue survey No. 332+333 Mouje Ramol of Dastroi Taluka
in the registration district and
sub-district of ahmedabad and
situated with in Vatwa Industrial Estate. Phase IV GIDC Vatwa Ahmedabad. |
|
The above assets
have been secured by way of equitable
mortgage charge as security for the said amount. |
|
The Ahmedabad
Mercantile Co. operative Bank Limited, Vatwa Branch, Ahmedadad |
|
NA |
|
NA |
|
|
|
|
Composite
Hypothecation Deed. Dated 03/02/2005 |
|
Rs. 110.000
millions only Facility Rs. In Lacs Cash Credit 80.000 millions Term Loan 5.000 millions Bank
Guarantee 25.000 millions
-----------------
110.000 millions
---------------- |
|
The whole of the
borrower’s movable plant and machinery. The whole of the
borrowers movable and immovable goods assets both present and future and
including but without to generality of raw material work in progress, semi
finished goods and finished goods packing materials. Consumable stores and
spares etc. whatsoever situate and or transits whether now belonging to or
that may at any time during the continuance of this security belong to the
borrower or that may be held by any
party and where to the order and disposition of the borrower at plot no 4912,
phase IV Vatva Ahmedabad. All the present
and future book debts, outstanding receivables, claims bills contracts
engagements and securities which are now due and owing or which may at any
time hereafter during the continuance of this security become due and owing
to the borrower to the course of its business by any person firm company or
body corporate or by the government of India or any State Government of
Indian Railway or any Government Department of office or any Municipal of
Local or public and semi government body or authority whatsoever including
those relating to the assets leased out and / or given on hire purchase
basis. |
|
Interest will be
charged at BPLR- 1.50% p.a. (presently PLR is 12%) for both term loan and
cash credit facilities. |
|
UTI Bank Limited Law Garden,
Ahmedabad |
|
NA |
|
NA |
AS PER WEBSITE
The Parixit Group
is a leading solutions provider and application specialist as well as a leader
in providing innovative context-specific customized solutions since 1985. They
offer products based on the world's best and up-to-date technologies. All of
our products are accredited with the ISO-9001 and ISO 14001 Certifications.
Parixit Industries Limited (PIL) is a unique and diversified company involved
in the Agriculture and Industrial arenas of Ahmedabad, Gujarat. They take pride in the fact that we create and
provide quality solutions to customers worldwide, with the help of its domain
expertise and team of dedicated professionals.
Today Parixit is one of the leading Groups in India in the fields of Pipe
Industries, Micro Irrigation, Agriculture & Allied Industries and in the
management of hazardous waste and prevention of corrosion. The company has
emerged as a major industrial and agricultural conglomerate, acclaimed for the
excellent quality of its products and services.
Through its group companies, they synergize and save the precious time of
clientele. Its emphasis on R& D,
HRD and Customer Care is a commitment towards achieving long-term business
goals. The underlying unity of a diverse network is our core strength. They
always share vast & extensive knowledge and experience with customers to
help them retain their leadership positions in their fields.
The Company’s Group consists of 4 companies under the roof of "PARIXIT"
and 11- branches with more than 580 dealers and distributors networks in
major states of India.
The vision to form this
company came from our founder Mr. A. I. Patel, a pioneer in agriculture
and chemistry. The first plant was set up by him way back in 1985. As a
son-of-the-soil and first generation entrepreneur, he firmly believed that
agriculture is the backbone of the Indian economy. Under his inspiring
leadership, the Group has achieved international acclaim and aims to become the
world leader in providing sustainable and eco-friendly solutions that add value
to agriculture and industries and enhance the quality of life.
ABOUT COMPANY
PIL is pioneer in
the manufacturing of Drip Irrigation Systems, Sprinkler Systems, HDPE/PVC
Pipes, all kind of Compression Fittings, Valves & accessories useful in
agriculture and allied industries for water, sewerage, effluents, gas and
chemical carrying applications and has earned excellent reputation all over
India.
PIL always strives for value addition in products, comprehensive advisory and
after-sales services to customers.
PIL is driven & strengthened by the establishment of following divisions:
- Agriculture & Customer care service
- ECC & Infrastructure Project
Division
- Research & Development
- Marketing & Distribution Network
Agriculture
& Customer care service
They are one of the India's leading companies in micro irrigation and land
development, with a whole range of products and technical know-how.
They provide various services to farmers which include drip & sprinkler
irrigation systems, selection of crops & its management, application of
fertilizers, growth stimulants, crop protectants, pest management and also
advice them on achieving quality and higher yield.
ECC & Infrastructure Projects Division
They undertake turnkey projects and
have completed a large numbers of ETP, gas, water, sewerage, irrigation, under
water pipeline, secure land fields (SLF), roads & other civil works, dust
control, landscaping and pipeline projects in various parts of India.
They are an A-class registered
contractors with various Government Departments and Water Supply Boards and
affiliated with major consultants like EIL, UDHE, Multimedia, Dalal Consultant,
STUP Consultant and Multi-Mande-CK, Wapcos, Mecon.
Research and Development
PIL is driven and supported by its strong and dedicated R&D team of
engineers, agronomists, agriculturists, professionals and biotechnologists
performing stringent quality control and assurance practices and continuously
unleashing new applications. This caters to both the agriculture and industrial
market, without compromising on time and quality.
- Production of 1000 mm OD HDPE Pipe is a
feather in the cap of Parixit.
- Parixit was first to introduce and
popularize compression fittings and full range of ISI Marked Disc Filters
in India.
- Newly designed online dripper brought
revolution in the agriculture sector, known as ‘Parixit LoC’.
- Newly developed engineering plastic
Sprinkler Saddles & Sprinkler Nozzles by us has replaced use of metals
in the industry.
- Inclusion of online and inline PC
dripper in our product range.
Marketing &
Distribution Network
The company have full-fledged branch offices and godowns in Pune, Jaipur,
Bhopal, Jabalpur, Lucknow, Jammu, Kochi, Hyderabad, Anantpur and Rewari. The
company also have a good dealer network of more than 580 throughout the
country. Their dealers keep sufficient stock of spare parts and are well
equipped with service engineers.
Contingent
Liabilities :
Guarantee issued by
the bankers : Rs. 18.717 millions
DRIP IRRIGATION SYSTEMS
Indian agriculture
is dependent on limited natural water sources, which is unable to irrigate the
entire cultivated land with traditional flood irrigation systems, as more than
50% of the total water is lost due to seepage, evaporation and percolation
beyond the root zone of the plants. With traditional flood irrigation their
poor farmers are able to irrigate only a part of their valuable cultivated
land, limiting their income to a great extent. As water levels in the entire
country go down, it is time for the farmers to adopt modern irrigation
techniques in order to maximize irrigated area, agricultural produce and income
by proper agricultural irrigation.
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Adaptation of
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HDPE PIPE |
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USES OF HDPE PIPE |
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Datasheet for
HDPE PIPES for the use of portable water supply and drainage & sewerage
pipe line |
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SPRINKLERL IRRIGATION SYSTEM
Its farmers have to
depend on the monsoon season to irrigate their agricultural land, which due to
its own characteristics sometimes leads to drought or floods. Underground water
sources being in limited quantity, it is not possible to irrigate it cultivable
land by traditional flood irrigation system as more than 50% of total water is
lost due to seepage, evaporation hampering its effort to get best results.
Sprinkler
Irrigation System
DATA SHEET for Sprinkler Irrigation System:
COMPRESSION SYSTEM
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Parixit is the first Indian company to launch the entire range of
Straight - Coupler, Bend, Tee, Reducer, Endcap, etc. in all sizes from 32 to
110 mm. They are also the largest exporter from India. |
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Compression
Fitting |
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SANITARY REQUIREMENTS |
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PVC
PIPES AND FITTING
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PARIXIT an ISO
9001 & ISO 14001 company is synonym to quality. Parixit Industries
Limited is leader in India for manufacturing HDPE pipes from 12 mm to 1000
mm. Its enormous and ingenious effort results in production of high quality
products. Its technologies and R & D professionals maintain a continuous
and strict vigil for smooth production of our high quality products. Being
customer friendly company our good will travels fast, expanding the chain of
clientele and gaining repeat orders. They feel the pulse of customers and
hence, customer satisfaction is motive. Parixit Industries Limited is among
India's one of the best quality manufactures of brand Rigid PVC Pipes. Its
Parixit brand PVC pipes conforms to BIS specifications and finds application
in water supply, sewerage Sanitation, irrigation, Borewells and
communications. PVC Pipes |
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Datasheet for
Bale Ended & Ring fit Type PIPES for the use of portable water supply |
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WALL THICKNESS
OF PIPES & WT/ M FOR PVC PIPES |
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DISK FILTER
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They are the only
ISI certified disc filter manufactures in India. Its disc filters are
equipped with online back flush arrangements. |
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Apple 2"
Disc Filter With easily detachable Spine
Salient
Features :
Procedure for
Dismantling
Assembling
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TECHNICAL DATA |
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With the changing
economic and business scenario, Parixit Industries Limited identified the
needs of the telecom & IT infrastructure to upgrade from metal cables to
optical fibres. With its rich experience in plastic pipe manufacturing & in-house
technical strengths, the company has developed a product conforming to modern
technology named Parixit COM-line. Parixit COM-Line is a product underlining
strategic diversification of PIL with a commitment towards global telecom
& IT infrastructure. Parixit COM-Line conduits are designed and
engineered to house these sensitive nerves of Information technology i.e.
optical fibres thus enabling information transfer across the globe. |
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Product Applications |
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COM-line Ducts are suitable for installation in the field dirt
trenches, under sidewalks, roads, within communication networks, between
communication centers and between cities. They can also be used in branch
networks between cells, distribution cabinets, poles, in walls and within
subterranean networks of homes, allowing the insertion of communication
cables-optical or copper, as well as TV/cable aluminum coaxial cables. Cables
can be inserted in through the pipe by blowing, with an internal air-pressure
up to eight bars. |
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MDPE GAS PIPES
We have entered
into an MOU with Bhutan Polyethylene Company Limited who have supplied more than
80% of the gas installation of MDPE pipes in India. Bhutan Polyethylene Company
Limited has been in the field of polyethylene gas pipes for more than 12 years
and have supplied the gas pipes to Gujarat Gas Company Limited, UNICEF,
Mahanagar Gas Limited and a number of other companies.
As per the MOU, we will be utilizing the manufacturing capacity of Bhutan
Polyethylene Company Limited with the gas pipe work in India to be handled
jointly by both companies.
The Parixit Group is a result of the foresight, motivating ability and
determination of Mr. Amrutbhai. I. Patel, the founder Chairman. The performance
indicator of the group's flagship company, Parixit Industries Limited, gives a
pretty good idea of just how rapidly this low-key businessman with a farming
background has achieved exemplary success.
Today, he is on the verge of building an intricate network of business around,
Pipes, Plastics, Anticorrosive Chemicals, Irrigation, High-Tech Agriculture and
Exports. Keeping pace with the modern technology and in order to provide better
services for the economic development of common farmers, he has decided to
venture into biotechnology as well.
The Parixit Group has major expansion and diversification plans in mind
and with the ongoing reforms, the Group will have a leading role to play in the
industrial and agricultural development of the country.
List of our group companies:
1 Corro Care
Industries
Corro Care
Industries manufactures various acid resistance cements & mortars. We are
also taking turnkey jobs in giant chemicals, Pharmaceuticals, petrochemicals,
Fertilizers, Pesticides and Textile units. Providing anti corrosive lining work
in common ETPs is our specialty.
2 Helical
Plastics
Helical plastics
manufactures HDPE tanks and other chemical equipments like Reaction Vessels,
Gas Scrubbing Systems, Vanturies, Chimneys, Towers in various plastic material
like HDPE, PP & FRP.
3 Parixit Gas
Company Limited
Parixit Gas Company
Limited is coming out with a natural gas distribution network for domestic
industries as well as residents in certain areas of Gujarat.
Manpower The
Group’s Board of Directors comprise of experienced people who with their wealth
of knowledge have taken each company on the path of continuing success. They
are assisted by a dedicated team of technocrats, technically trained managers
& workers operating in the perfect synergy to fulfill the commitment of the
organization toward ‘superb quality’.
Mr. A I. Patel,
Managing Director
Parixit Industries
Limited
AGRO PRODUCT DIVISION & EXTENSION SERVICES:
The group is well equipped
with senior horticulturists, crop specialists, agriculture engineers,
agronomists, pathologists, biotechnologists & professionals engaged in
rendering their services by arranging farmers meets, seminars and short-term
training programmes on scientific cultivation of agricultural &
horticultural crops including all aspects organized for the benefit of the
farmers.
They are extensively engaged in finding solutions to agricultural problems by
increasing yield and without disturbing the ecological balance in the
agricultural field.
CUSTOMER
CARE:
- PARIXIT is known for its exemplary
customer service for the upliftment of the economic well being of farming
community.
- Our Sales staff and customer service
team work together to ensure that the customer get the right information
and product they need.
- They provide efficient water &
fertilizer management system and agronomical guidance.
- They offer intensive short-duration
training on modern and scientific farming technology.
- They are fully committed to agriculture
and rural development.
- They provide training for welding &
installation of HDPE Underwater pipeline.
Project Division
ECC &
Infrastructure Projects Division:
They undertake turnkey projects and have completed a large numbers of ETP, gas,
water, sewerage, irrigation, under water pipeline, secure land fields (SLF), roads & other civil works, dust
control, landscaping and pipeline projects in various parts of India.
They are an A-class registered contractors with various Government Departments
and Water Supply Boards and affiliated with major consultants like EIL, UDHE,
Multimedia, Dalal Consultant, STUP Consultant and Multi-Mande-CK, Wapcos,
Mecon.
News
BIOTECHNOLOGY
:
With the miraculous success
in the fields of Micro Irrigation Systems, PVC/HDPE Pipes etc, the company has
ambitious plans to diversify its activities in Biotechnology & high-tech
agriculture to fulfill the total commitment of the organization towards agriculture
revolution. For the economic development of the farmers, the new projects on
anvil are Plant Tissue Culture, Green House technologies, water soluble liquid
fertilizer, Bioformulations and Crop protect ants and organic farming. The
group's entry into biotechnology offers an opportunity of immense potential.
TISSUE CULTURE :
TISSUE CULTURE is a
revolutionary technique of cloning and micro propagation of tissues of a
carefully selected disease free mother plant under controlled laboratory
conditions. The plants produced from tissue culture are true-to-type, disease
free, more vigorous than conventionally produced plants and start yielding much
earlier. Tissue culture will change the agro-economic conditions of the farming
community & will also open up doors for exports of high value added plants.
This activity will be supported by technically advanced know-how from Israel
and The Netherlands. The company is actively negotiating for collaboration for
the same.
GREEN HOUSE :
Enables production of
different type of crops regardless of soil, season & climate. It improves
quality through better controlled temperature, humidity, irrigation and
fertigation and for sustainable increase in yield.
AGRO PRODUCT DIVISION & EXTENSION SERVICES :
Inspired by the success of these endeavors the company is expanding its
operations to high-tech farming.
The availability of a large part of its total acres of land gave birth to a
green idea: growing vegetables, fruits, flowers and medicinal herbs &
plants for the domestic and export markets. The pattern of cultivation is
scientifically planned, after considering such factors as soil composition,
climatic conditions as well as the commercial viability. These will be
cultivated in open fields as well as in specially constructed Green Houses.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.63 |
|
UK Pound |
1 |
Rs.85.58 |
|
Euro |
1 |
Rs.58.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|