Arunoday Mills Limited
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BSE Code:
502700
NSE Code:
Business Profile
Business Profile
Arunoday Mills was incorporated in the year 1962 in Gujarat. The main object of the company is cotton yarn spinning. Its factory is located at Morbi, Gujarat, for manufacturing cotton yarn, cotton and blended yarn with the installed capacity of 39,504 spindles.
The company belongs to Arunoday Group of companies, which was incorporated in 1942. The group started its activities in trading, today it manufactures and exports yarn, textiles, garments, dyes and various types of chemicals.
Arunoday has sales offices in major cities and distributors and agents in Tiruppur, Ludhiana, Benares and in Ahmedabad. In 1995, the company set up a 300- kw wind energy farm, near Porbunder, Gujarat.
In the year 2005-06, BIFR declared the company as a sick industrial unit and appointed IDBI as the operating agency (OA) and in the same year, the company sold its entire shareholding in Keti Services, now the Keti services is not a subsidiary of the company.
Financials
For the quarter ended December 2006, the company reported decline in revenue by 91.34% to Rs 9 million from Rs 104 million in quarter ended December 2005. For the same period in 2006, it posted a loss of Rs 5.6 million, as against Rs 36.9 million in the quarter ended December 2005, a fall of 84%.
During the year ended March 2006, the company`s turnover amounted to Rs 440.2 million, as against Rs 593.6 million in 2005 resulting in a fall of 25.84%. It posted a loss of Rs 146.6 million in 2006, resulting in a rise of 26.48% over the loss of Rs 115.9 million in 2005.