MSME (Udyam registered) Ministry of MSME
- Category
- Micro (2024-25)
- Udyam number
- UDYAM-KR-03-0235395
Parallel Track Engineering Company Private Limited
Parallel Track Engineering Company Private Limited - metals and minerals in Bangalore, Karnataka, India. FY 2026 financials & compliance.
Revenue · FY 2024
₹9.21 Lakh
▼ 97% YoY
Net loss · FY 2024
₹5.47 Lakh
Net margin -59.3%
EBITDA · FY 2024
-₹3.86 Lakh
EBITDA margin -41.9%
Authorised capital
₹9.21 Cr
Registered with MCA
Paid-up capital
₹1 Lakh
Issued & subscribed
Satisfied charges
₹1.75 Cr
No open charges
Company age
20 yrs
Est. 2006
Employees · EPFO
13
Provident fund records
About Parallel Track Engineering Company Private Limited
Data last updated:
Parallel Track Engineering Company Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the other metals and minerals segment of the metals and mining sector. It was incorporated on 23 August 2006 and has been in existence for over 20 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U29241KA2006PTC040269. The company has 2 GST registrations on record, none of which is active.
The company has an authorised share capital of ₹9.21 Cr and a paid-up capital of ₹1 Lakh. It is led by directors Uday Manikrao Pannase and Valsan Radhakrishnan Kottil.
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹9.21 Lakh, a decline of 97% compared to the previous year. For the same year it recorded a net loss of ₹5.47 Lakh (net margin -59.3%) and EBITDA of -₹3.86 Lakh (EBITDA margin -41.9%). Revenue has declined at a compounded annual rate (CAGR) of 60% over three years and 48% over five years.
The company has about 13 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Parallel Track. As per MCA filings, the company has satisfied charges of ₹1.75 Cr on record. Court records list 4 cases involving the company, including 4 filed against it.
Parallel Track Engineering Company Private Limited is registered as a micro enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0235395). The current compliance status is marked as compliant by the Registrar of Companies.
Company details
CIN U29241KA2006PTC040269
Registration Number 040269
Incorporation Date 23 August 2006
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2024
Date of Balance Sheet 31 March 2024
Compliance Status Active Compliant
MSME Classification Micro
Udyam Registration UDYAM-KR-03-0235395
Recognitions & Rankings of Parallel Track Engineering Company
Contact details
Parallel Track Engineering Company Private Limited's registered office is in Bangalore, Karnataka. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Registered AddressSy No. 105/1/2/3 17th Km Old Madras Road Medahalli Virgonagar, Post, Bangalore, Karnataka, India – 560049
- IndustryMetals and Minerals, Other Metals & Minerals
To see the full contact details of Parallel Track Engineering Company Private Limited, buy the company report.
Comprehensive company report
Parallel Track Engineering Company Private Limited - one report that includes everything
- 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Parallel Track Engineering Company operates one associated brand: Parallel Track. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provider of storage and handling system solutions | paralleltrack.biz |
Financials of Parallel Track Engineering Company Private Limited
FY 2024 filings availableParallel Track Engineering Company Private Limited reported revenue of ₹9.21 Lakh (down 97% YoY) for FY 2024.
Revenue · FY 2024
₹9.21 Lakh ▼ 97%
Net loss · FY 2024
₹5.47 Lakh margin -59.3%
EBITDA · FY 2024
-₹3.86 Lakh margin -41.9%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 97%
3 years · compounded
▼ 60%
5 years · compounded
▼ 48%
EBITDA CAGR growth
1 year
▲ 98%
3 years · compounded
▼ 29%
5 years · compounded
▼ 15%
Revenue has declined at a compounded annual rate (CAGR) of 48% over five years, including a 97% fall in the latest year. EBITDA rose 98% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Total Expenses | |||||
| EBITDA | -₹3.86 Lakh | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹5.47 Lakh | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -41.9% | ||||
| Net Profit Margin | -59.3% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Parallel Track Engineering Company Private Limited, buy the company report.
Board of directors of Parallel Track Engineering Company Private Limited
Parallel Track Engineering Company has 2 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Uday Manikrao Pannase Also directs: Parallel Track Mhe Private Limited | Director | 23 Aug 2006 | 20 Years 2 Months | Current |
| Valsan Radhakrishnan Kottil | Director | 26 Mar 2023 | 3 Years 6 Months | Current |
Peer comparison
Parallel Track Engineering Company Private Limited is compared with the 4 companies closest to it by revenue in the Metals and Minerals industry (Other Minerals), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Adarsh Calx- Fill Microns Private Limited | ₹9.81 Lakh (FY 2020) | -62.0% | Abu Road, Rajasthan, India | |||
| Halu Rameshwar Minerals Private Limited | ₹9.6 Lakh (FY 2016) | Bangalore, Karnataka, India | ||||
| Vipra Polytrusion Private Limited | ₹9.4 Lakh (FY 2025) | -44.0% | Delhi, India | |||
| Parallel Track Engineering Company Private Limitedthis company | ₹9.21 Lakh (FY 2024) | -₹5.47 Lakh | -59.3% | -97.0% | 13 | Bangalore, Karnataka, India |
| Drawbex Metal Private Limited | ₹9.02 Lakh (FY 2025) | 0.0% | Jodhpur, Rajasthan, India |
To see the full peer comparison of Parallel Track Engineering Company Private Limited, buy the company report.
Auditor
Parallel Track Engineering Company Private Limited is audited by K G Sunil & Co for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| K G Sunil & Co | FY 2022 | 017043S |
Shareholding
The shareholding of Parallel Track Engineering Company Private Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Parallel Track Engineering Company Private Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹1.75 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 06 Mar 2007 | 10076716 | Canara Bank | ₹1.75 Cr | Satisfied |
To see the full charge records of Parallel Track Engineering Company Private Limited, buy the company report.
Total charge records: 1 View all charges
Legal cases
Parallel Track Engineering Company Private Limited has 4 court cases on record: 4 filed against it. All cases are disposed.
Total cases
4
Filed against the company
4
Disposed
4
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 4 | 4 | 0 |
Cases on record (3 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed against the company by M/S Updater Services Limited | Disposed |
| District court, New Delhi, Delhi | Civil suit | Filed against the company by Thomas International Pub. Co. (I)(P)(L) | Disposed |
| District court, South, Delhi | Civil suit | Filed against the company by Thomas International Pub. Co. (I)(P)(L) | Disposed |
To see the full case history of Parallel Track Engineering Company Private 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 Parallel Track Engineering Company Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Parallel Track Engineering Company Private Limited has a workforce of 13 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
Employee count
13
Active EPFO establishments
1
Employee growth
-60.61%
GST
Parallel Track Engineering Company has 2 GST registrations on record, and all of them have been cancelled or are inactive. Only active GST numbers are listed on this page.
Total GSTINs
2
Cancelled / inactive
2
To see the full GST registrations and return filing status of Parallel Track Engineering Company Private Limited, buy the company report.
Recent activity
Parallel Track Engineering Company Private Limited has 5 board changes on record since 2006: 2 appointments and 3 cessations. The latest: Radhakrishnan Vinod ceased to be Director on 30 Mar 2023.
AGM
Parallel Track Engineering Company Private Limited last Annual general meeting of members was held on 30 Sep 2024 as per latest MCA records.
Filing
Parallel Track Engineering Company Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Ceased
Radhakrishnan Vinod ceased to be Director.
Appointed
Valsan Radhakrishnan Kottil was appointed as Director.
Ceased
Valsan Radhakrishnan Kottil ceased to be Director.
Ceased
Rajan Aggarwal ceased to be Director.
Charges
A charge registered on 06 Mar 2007 via Charge ID 10076716 with Canara Bank was fully satisfied on 25 Mar 2014.
Charges
A charge with Canara Bank amounted to Rs. 1.75 Cr with Charge ID 10076716 was registered on 06 Mar 2007.
Appointed
Uday Manikrao Pannase was appointed as Director.
Incorporation
23 Aug 2006
Parallel Track Engineering Company Private Limited was registered on 23 Aug 2006 with Roc Bangalore & aged 20 years 2 months as per MCA records.
Frequently asked questions
Parallel Track Engineering Company is an active private limited company based in Bangalore, Karnataka, India. The company works in other metals and minerals, within the metals and minerals industry. It was incorporated on 23 August 2006 (20+ years old) and is registered under CIN U29241KA2006PTC040269.
Parallel Track Engineering Company has 2 current directors:
- Uday Manikrao Pannase - Director
- Valsan Radhakrishnan Kottil - Director
The latest financial statements of Parallel Track Engineering Company on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
No. Parallel Track Engineering Company has 2 GST registrations on record and all of them are cancelled or inactive.
The CIN (Corporate Identification Number) of Parallel Track Engineering Company is U29241KA2006PTC040269. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Parallel Track Engineering Company has 4 court cases on record: 4 filed against it.
Parallel Track Engineering Company was incorporated on 23 August 2006, making it 20+ years old. It is registered with the Registrar of Companies, Bangalore.
The peers of Parallel Track Engineering Company by revenue are Adarsh Calx- Fill Microns Private Limited, Halu Rameshwar Minerals Private Limited, Vipra Polytrusion Private Limited, Drawbex Metal Private Limited, all in the Metals and Minerals industry (Other Minerals), with the same principal business activity (metal and metal products).
Radhakrishnan Vinod ceased to be Director on 30 Mar 2023. Valsan Radhakrishnan Kottil was appointed as Director on 26 Mar 2023. Valsan Radhakrishnan Kottil ceased to be Director on 20 May 2017. Parallel Track Engineering Company has 5 board changes on record in total.
Yes, Parallel Track Engineering Company is registered as a micro enterprise under Udyam registration (number: UDYAM-KR-03-0235395).
The registered office of Parallel Track Engineering Company is at Sy No. 105123 17th Km Old Madras Road Medahalli Virgonagar, Post, Bangalore, Karnataka, India – 560049.