MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

ARON UNIVERSAL LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRA05610D

 

 

PAN No.:

[Permanent Account No.]

AACCA0449A

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

No. of Employees :

300 [Approximately]

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Vivid Daylight Fluorescent Pigments, Fluorescent Toners, Fluorescent Ink Bases, etc.

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Europe

·         Russia

·         Middle East

 

 

Imports :

 

Products :

Raw Material

Countries :

·         China

·         Europe

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

No. of Employees :

300 [Approximately]

 

 

Bankers :

·         Kotak Mahindra Bank Limited

36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India

 

·         State Bank of India

SME J P Nagar Branch, J P Nagar 5th Phase, Bangalore - 560078, Karnataka, India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Term Loans From Banks

State Bank of India

Term Loans secured against hypothecation of plant and machinery and other current assets

44.933

53.983

Kotak Mahindra Bank

Term loan secured against hypothecation of flat and guaranteed by the directors of the company

6.514

6.910

State Bank of India

Buyers Credit

Secured against hypothecation of plant and machinery and stock

12.773

6.491

Term Loans From Others

Kotak Mahindra Prime Limited

Term loans secured against hypothecation of car and guaranteed by the directors of the company

0.987

1.274

BMW Financial Services

Term loans secured against hypothecation of car and guaranteed by the directors of the company

1.829

0.000

Toyota Financial Services Limited

Term loans secured against hypothecation of car and guaranteed by the directors of the company

1.184

0.000

SHORT TERM BORROWINGS

 

 

Cash Credit From State Bank of India

Cash Credit

11.119

50.168

PCFC A/C

18.710

25.203

FCNRB A/C

(Secured by hypothecation of raw materials, finished goods, WIP, book debts and bills receivables)

51.203

0.000

 

 

 

Total

 

149.252

144.029

 

 

UNSECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Loans from directors

38.759

31.186

 

 

 

Total

 

38.759

31.186

 

 

 

Banking Relations :

 

 

 

Financial Institutions :

·         Toyota Financial Services Limited

·         BMW Financial Services

·         Kotak Mahindra Prime Limited

 

 

Auditors :

 

Name :

Kupendra and Associates

Chartered Accountants

Address :

G1, Ground Floor, Hema Enclave, 3rd Main, 3rd Cross, Chamarajpet, Bangalore – 560018, Karnataka, India

Income-tax PAN of auditor or auditor's firm :

AHEPS3013N

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

 

No. of Shares

Ashok Babubhai Amin

 

1535153

Ansu Ashok Amin

 

554720

Nirav S Patel

 

32000

Sunita Ashok Amin

 

124480

Yashni S Patel

 

32000

Patel M Shailesh - HUF

 

115840

Amin B Ashok - HUF

 

112480

Neelam Ashok Amin

 

62400

Shailesh Madhubai Patel

 

813760

Kalpana Shailesh Patel

 

409600

 

 

 

Total

 

 

3792433

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

37.924

37.920

37.920

(b) Reserves & Surplus

66.061

55.940

46.704

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

103.985

93.860

84.624

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

106.979

99.844

41.591

(b) Deferred tax liabilities (Net)

15.042

12.471

10.321

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

122.021

112.315

51.912

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

81.032

75.371

49.010

(b) Trade payables

49.535

48.033

23.249

(c) Other current liabilities

7.134

6.426

19.261

(d) Short-term provisions

5.724

4.271

5.135

Total Current Liabilities (4)

143.425

134.101

96.655

 

 

 

 

TOTAL

369.431

340.276

233.191

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

168.148

161.861

69.689

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

2.099

1.758

7.616

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.790

3.698

3.056

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

174.037

167.317

80.361

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

57.480

76.153

55.114

(c) Trade receivables

94.640

77.387

73.010

(d) Cash and cash equivalents

23.206

6.849

5.145

(e) Short-term loans and advances

19.694

12.195

19.391

(f) Other current assets

0.374

0.375

0.170

Total Current Assets

195.394

172.959

152.830

 

 

 

 

TOTAL

369.431

340.276

233.191

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from Operations

473.403

324.538

293.276

 

 

Other Income

0.918

1.002

0.389

 

 

TOTAL                                     (A)

474.321

325.540

293.665

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

300.083

212.667

166.819

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

1.191

(24.183)

(11.121)

 

 

Employees benefits expense

54.761

39.394

26.696

 

 

Other expenses

72.157

60.444

59.447

 

 

Impairment of Asset

1.988

0.000

6.767

 

 

TOTAL                                     (B)

430.180

288.322

248.608

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

44.141

37.218

45.057

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

15.647

15.194

4.602

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

28.494

22.024

40.455

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

8.770

5.037

4.513

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

19.724

16.987

35.942

 

 

 

 

 

Less

TAX                                                                  (H)

6.517

5.548

12.496

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

13.207

11.439

23.446

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

287.956

185.263

163.469

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

150.614

126.947

102.048

 

 

Capital Goods

0.000

14.022

0.000

 

TOTAL IMPORTS

150.614

140.969

102.048

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.48

3.02

6.18

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover

 

 

600.000

 

 

 

 

 

Expected Sales (2014-2015) : Rs. 750.000 Millions

 

The above information has been parted by Mr. Sripathi [Senior Export Manager]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office/ Factory :

25/1, Jigani Industrial Area, Jigani Anekal Taluk, Bangalore – 562106, Karnataka, India

Tel. No. :

91-80-26605128/ 27825578/ 27825331/ 27825315/ 27825795

Mobile No. :

91-9741304481 (Mr. Shailesh Madhubhai Patel)

Fax No. :

91-80-27825794/ 27825578

E-Mail :

kupendraas@gmail.com

sripathi@aronuniversal.com

exports@aronuniversal.com

Website :

http://www.aronuniversal.com

 

 

Corporate Office :

No.103/104, Brigade Business Suites, 44, T Mariappa Road (100ft Road), Ashoka Pillar, Jayanagar 2nd Block, Bangalore – 560011, Karnataka, India

Tel. No. :

91-80-26579449/ 26579339

Fax No. :

91-80-27825794/ 27825578

E-Mail :

sales@aronuniversal.com

 

 

Overseas Office :

Located at

 

·         China

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.