Parekh aluminex

Stock Opportunities
21

parekh aluminex situation keeps on getting murkier and murkier.

in lynch parlance it looks like a business any idiot can run.

Lets see who steps up to run the company and when the slide stops in stock price.

Still remains on watchlist.

This one and arshiya among others again highlights the fact of promoter integrity in companies where one is contemplating long term investments.

22

the downward spiral has temporarily stopped and price may settle down sooner or later.

23

yesterday & today - the stock has seen 5% UC right in the first hour of trade… is there anyway of knowing the developments in the company ?

24
Listed below is non-promoter holding - would be interesting to watch the changes in holdings after they declare numbers for Dec 2012 - other than Sachin Kamath, it seems the kins of Parekh and family are involved viz - the khimjis, nenseys, dalals, mehtas, sampats
Quarter Ending:September 2012

Shareholding belonging to the category : "Public and holding more than 1% of the Total No.of Shares"

No.

Name of the Shareholder

Total Shares held

Shares as % of Total No. of Shares

1

Ajitsinh Gokaldas Khimji

842,705

6.51

2

Dharmesh Ajitsinh Khimji

700,000

5.41

3

Tawoos LLC

640,000

4.95

4

National Investment Funds Company

450,000

3.48

5

Nippon Investment And Finance Co Pvt Ltd

201,000

1.55

6

Bipin Dharamsey Nensey

204,847

1.58

7

Sunil Bhagwatlal Dalal

200,000

1.55

8

Rishi A Khimji

186,847

1.44

9

Sachin Kamath

181,600

1.4

10

Mentor Capital Ltd

1,314,298

10.16

11

Kaushik Rameshchandra Mehta

173,000

1.34

12

Sur International Investment Ltd

170,000

1.31

13

AL Zaman Investments LLC

160,000

1.24

14

Mahesh Keshavji Sampat

160,000

1.24

15

Shikar Bipin Dharamsey Nensey

136,756

1.06

16

Goldcrest Finance India Ltd

250,000

1.93

Total

5,971,053

46.14
25

Mentor Capital Ltd is an associate company of Sanjay Dangi as per the following notification

http://www.sebi.gov.in/press/2011/2011117.html

26

nadakarni, good info - any idea about the other major shareholders?

also any more info on other stocks in which Mentor capital has any holding?

27

Amey,

You can look up any public shareholding >1% using the money control screener. Here’s what it shows for Mentor -

http://www.moneycontrol.com/bse/shareholding/stocks_hold.php?type=1&res=search&id=25556

28

Pardon me for deviating from the topic. The following link contains list of some of the Danghi Group Companies. This list pertains to a SEBI order related to insider trading and stock price rigging in case of Murli Industries.

The report also states that some of the other companies where Danghi Group is active include Parekh Aluminex,Limited, Panasonic Home Appliances India Limited, J Kumar InfraProjects Limited, Prakash Steelage Limited and Core Projects &Technologies Limited

www.sebi.gov.in/cmorder/dangientities.pdf

29

Hitesh bhai,

please look at the parekh aluminex story once again.

regards

amey

30

Hitesh bhai ,
After making a low of 114,it climbed on back to back circuits.Does it make sense to put money in the stock at this point of time?

31

amey, sourabh

I think with current market correction offering other better options to invest in much better scrips, it would be prudent to avoid parekh aluminex. This is my personal view and may be considered biased. I dont like companies with big debts and parekh aluminex is one of them.

32

Hi All,

On 13April, Parekh Aluminex has submitted its results for quarter ended 31st Dec and the results are shocking -

Their sales have fallen by 90% from Rs.3450M to Rs.450M (Q-o-Q) -looks like absolute no focus on sales, possibly company was closed down for a while

finished good inventories rose from Rs. (5.19)M to Rs. 770M -possible reason same as above

employee benefits has fallen from Rs. 12.8M to Rs. 8.5M -potentially a lot employees (at higher designations) have left the company

finance cost has gone up from Rs. 186M to Rs. 1827M -huge loans taken up in recent past, a large no. of shares have been pledged as is evident from the balance sheet

There is no visibility on who is the new managinig director of the company

All in All - a big mess - i just hope that there is some light at the end of the tunnel, i have a holding in this Co. at price of Rs. 324 …so there is no use of booking loss at the CMP

33

**

Why no use booking a loss at CMP? If the current disastrous performance continues, this will be a penny stock soon.

All CMP

**

34

I understand your point Ajit

The stock is hitting LC daily - so not possible even if I desire to

35

Did anybody manage to look into happenings at Parekh Aluminex in last 3 months

They have managed to get permission to report 18months earnings instead of 12months earnings

so they will report earnings by Sep 2013

36

Just came across this discussion while looking at lessons learnt from Parekh Aluminex.

I had seen this company around 2 yrs back and stayed away - just looking at Debt to Profit ratio and PAT vs CFO and skimming through the company’s business (low margin, big expansions)

A great dissection of the company can be found at https://www.scribd.com/doc/236569851/Parekh-Aluminex-Inspired-by-Charles-Munger-s-Quote