Karnataka Strips Limited
About Karnataka Strips Limited
Data last updated:
Karnataka Strips Limited is a public limited company based in Bellary, Karnataka, India. The company is currently under liquidation, meaning its assets are being sold to settle outstanding debts. It may not have the legal capacity to fulfil new contracts. It operates in the industrial tools and components segment of the machinery and industrial equipment sector. It was incorporated on 25 May 2000.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U85110KA2000PLC027141. The company has 3 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹35 Cr and a paid-up capital of ₹22.88 Cr. It is led by directors including Rajender Kumar Singhal (Managing Director) and Ganga Bale Rai Kumar.
Its last annual general meeting (AGM) was held on 30 September 2015, and its latest financial statements are for the year ended 31 March 2015. The registered office is at No 126 Mundaregi Villagemundargi Industrial Area Bellary, Karnataka, India – 583101.
As per the financials filed for FY 2013, the company reported a revenue of ₹18.82 Cr, a decline of 45% compared to the previous year. For the same year it recorded a net loss of ₹12.35 Cr (net margin -65.6%) and EBITDA of -₹2.8 Cr (EBITDA margin -14.9%).
As per MCA filings, the company has open charges of ₹89.85 Cr on record. Court records list 22 cases involving the company, including 17 filed by the company and 5 filed against it; 1 case is pending.
Company details
CIN history
Karnataka Strips has one previous CIN (Corporate Identification Number): U85110KA2000PTC027141. The current CIN is U85110KA2000PLC027141, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U85110KA2000PLC027141 | Current |
| U85110KA2000PTC027141 | Previous |
Contact details
Karnataka Strips Limited's registered office is in Bellary, Karnataka. Its e-mail address is in the company report.
- Email
- Registered AddressNo 126 Mundaregi Villagemundargi Industrial Area Bellary, Karnataka, India – 583101
- IndustryMachinery and Equipment, Industrial Tools & Components
To see the full contact details of Karnataka Strips Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Financials of Karnataka Strips Limited
FY 2015 filings availableKarnataka Strips Limited reported revenue of ₹18.82 Cr (down 45% YoY) for FY 2013.
Compounded Annual Growth Rate (CAGR)
Revenue fell 45% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2012-13 |
|---|---|
| Profit and Loss Statement | |
| Revenue from Operations | |
| Other Income | |
| Total Revenue | ₹18.82 Cr |
| Cost of Materials Consumed | |
| Employee Benefit Expense | |
| Finance Costs | |
| Depreciation and Amortisation | |
| Other Expenses | |
| Total Expenses | |
| EBITDA | -₹2.8 Cr |
| Profit Before Tax | |
| Tax Expense | |
| Net Profit (PAT) | -₹12.35 Cr |
| Balance Sheet | |
| Share Capital | |
| Reserves and Surplus | |
| Net Worth (Total Equity) | |
| Long-term Borrowings | |
| Short-term Borrowings | |
| Trade Payables | |
| Total Liabilities | |
| Fixed Assets | |
| Investments | |
| Inventories | |
| Trade Receivables | |
| Cash and Bank Balance | |
| Total Assets | |
Financial Ratios
| Metrics | FY 2012-13 |
|---|---|
| Profitability | |
| EBITDA Margin | -14.9% |
| Net Profit Margin | -65.6% |
| Return on Equity (ROE) | |
| Return on Capital Employed (ROCE) | |
| Return on Assets (ROA) | |
| Liquidity and Debt | |
| Current Ratio | |
| Quick Ratio | |
| Debt-to-Equity Ratio | |
| Interest Coverage Ratio | |
| Efficiency and Growth | |
| Asset Turnover | |
| Receivable Days | |
| Payable Days | |
| Inventory Days | |
| Revenue Growth | |
| Net Profit Growth | |
To see the full financial statements and ratios of Karnataka Strips Limited, buy the company report.
Board of directors of Karnataka Strips Limited
Karnataka Strips has 3 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ganga Bale Rai Kumar Also directs: United Galva Limited, S K Corporation (Intl) Limited, Charishma Overseas Limited and 1 more | Director | 20 Sep 2004 | 22 Years 1 Months | As last reported |
| Devesh Mithanlal Agarwal Also directs: M L Auto Tubes Private Limited | Director | 25 May 2000 | 26 Years 5 Months | As last reported |
| Rajender Kumar Singhal | Managing Director | 25 May 2000 | 26 Years 5 Months | As last reported |
Shareholding
The shareholding of Karnataka Strips Limited is on record for FY 2015, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2015 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Karnataka Strips Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Jun 2010 | 10242453 | Hiren Chag | ₹9.68 Cr | Open | |
| 31 Mar 2009 | 10158371 | Others | ₹19.44 Cr | Open | |
| 03 Jul 2007 | 10062164 | Others | ₹12.4 Cr | Open | |
| 22 Dec 2005 | 80017171 | Pridhvi Asset Reconstruction and Securitisation Company Limited | ₹31.5 Cr | Open | |
| 19 Jan 2005 | 80017172 | Ing Vysya Bank | ₹5.33 Cr | Open |
To see the full charge records of Karnataka Strips Limited, buy the company report.
Total charge records: 6 View all charges
Legal cases
Karnataka Strips Limited has 22 court cases on record: 17 filed by Karnataka Strips, 5 filed against it. 1 case is pending and 21 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 14 | 1 | 1 |
| District courts | 8 | 4 | 0 |
Cases on record (5 of 22)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Appeal | Filed against the company by Arr Precision Works P Ltd and 1 other | Disposed |
| High Court of Karnataka | Court case (COP) | Filed against the company by Total Oil India Private Limited | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Apr Precision Works Pvt Ltd and 1 other | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Apr Precision Works Pvt Ltd and 1 other | Disposed |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Ms Shabari Auto Comps. Pvt. Ltd. and 2 others | Disposed |
To see the full case history of Karnataka Strips Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Karnataka Strips Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Karnataka Strips has 3 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
To see the full GST registrations and return filing status of Karnataka Strips Limited, buy the company report.
Recent activity
Karnataka Strips Limited has 4 board changes on record since 2000: 3 appointments and 1 cessation. The latest: Ritu Devesh Agarwal ceased to be Director on 01 Dec 2012.
5 earlier events are in the company report.
Frequently asked questions
Karnataka Strips is currently "Under Liquidation" as per MCA records. The company's assets are being sold to settle outstanding debts owed to creditors. A company under liquidation may not have the legal capacity to fulfil new contracts, and creditors are prioritised in the distribution of proceeds. This is a high-risk status - caution is strongly advised.
Karnataka Strips is a company under liquidation, formerly operating as a public limited company based in Bellary, Karnataka, India. The company works in industrial tools and components, within the machinery and equipment industry. It was incorporated on 25 May 2000 and is registered under CIN U85110KA2000PLC027141. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Karnataka Strips has 3 current directors:
- Rajender Kumar Singhal - Managing Director
- Ganga Bale Rai Kumar - Director
- Devesh Mithanlal Agarwal - Director
The latest financial statements of Karnataka Strips on record with the MCA are for the year ended 31 March 2015. Its last annual general meeting was held on 30 September 2015. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Karnataka Strips is U85110KA2000PLC027141. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Karnataka Strips has open charges of ₹89.85 Cr and no satisfied charges on record as per latest MCA filings.
Karnataka Strips has 22 court cases on record: 17 filed by the company and 5 filed against it. 1 is pending. Most are in the high courts.
Karnataka Strips was incorporated on 25 May 2000. It is registered with the Registrar of Companies, Bangalore.
Ritu Devesh Agarwal ceased to be Director on 01 Dec 2012. Ganga Bale Rai Kumar was appointed as Director on 20 Sep 2004. Devesh Mithanlal Agarwal was appointed as Director on 25 May 2000. Karnataka Strips has 4 board changes on record in total.
The registered office of Karnataka Strips is at No 126 Mundaregi Villagemundargi Industrial Area Bellary, Karnataka, India – 583101.
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