KONNDOR INDUSTRIES LIMITE Share price

The Company was incorporated as a Private Limited Company on23rd March 1983 in the name of Contech India Private Limitedwith the Registrar of Companies Gujarat at Ahmedabad under theCompanies Act 1956. The Company became a Deemed Public Companyw.e.f. 1st July 1993. The Company was reconverted into aPrivate Limited Company with effect from 17th April 1995 and acertificate to that effect was issued by the Registrar ofCompanies Gujarat on 18th June 1999. The Company wasconverted into a Public Limited Company w.e.f. 8th November1999 and the name of the Company was changed to Contech SoftwareLimited w.e.f. 17th November 1999.There was another Company named Contech Software Private Limitedwhich was incorporated on 27th March 1997. In terms of theOrder dated 24th September 1999 of the Honourable High Court ofGujarat M/s. Contech Software Private Limited has merged withthe Company w.e.f. 1st April 1999 and all assets andliabilities of the said Company has been taken over by theCompany in accordance therewith.The Company was originally promoted by Mr. Nimish Vasa and Mr.Chandrakant Shah in 1983 and started full-fledged activity in1987. Mr. Rajan Vasa the present Managing Director who is aqualified software technocrat joined the Company in 1989.The company has established office space for 16000 sq.ft. in1992-93 and no debts were raised. There had been no time/costoverrun insetting up the projects. The company has notdefaulted on credit facilities from banks and no loan wasconverted into equity. The company enjoys cordial industrialrelations with its staff.The Company is offering full range of high quality ProcessAutomation products with control technology aided by moderncomputer software and engineering consultancy as turn keysolutions.The erstwhile Contech Software Private Limited was in thebusiness of software development of Telecom Technologiesbusiness applications and embedded solutions.At present the Company is offering services in three strategicareas of software technologies as below.1. E-commerce and Business Applications (ECBA)a. E-commerce Applications and Secured Web applicationsb. Generic Enterprise applications : Financial AccountingInventory management Sales Management and other Client ServerApplications etc.c. Front and back Office management.2. Control and Real Time Applications (CRTA) a. Industrial Automation Software systems. b. CAE & CIM Applications. c. Embedded solutions for real time applications. d. "Plant Assistant " - a SCADA software for industrialautomation.3. Telecom Technologies (TT)a. Embedded solutions for worldwide analog and digital signalingschemes.b. Protocol conversion and engineering solutions for telecomnetworks.c. Development on Business Communication systems.d. Network Management Systems using the TMN Model.The Company has availed the following facilities from NBFCs asdetailed below :SUBSIDIARY COMPANYThe Company has set up a Wholly Owned Subsidiary Company titledContech Technologies America Inc. incorporated in U.S.A. on 16thJuly 1999 with an initial capital of U.S. $ 5000. The name ofthe subsidiary was changed to Contech America Inc on August 171999. The address of the subsidiary is as below :Contech America IncC\o Jamshed GandhiRoom no.1700150 Spear St.San FranciscoCA USAHowever the subsidiary is yet to commence operations. TheCompany is yet to receive the Identification number for saidsubsidiary from RBI.The company plans to source business through its subsidiary as apart of its strategy to emerge as a global solutions providerand as of now does not depend upon its subsidiary for sourcingbusiness.