Universal Prime Aluminium Ltd Company Summary

Universal Prime Aluminium Ltd Summary

Universal Prime Aluminium (erstwhile Universal Cans and Containers) was promoted by Prakash Kumar Mohta in 1974, a first generation entrepreneur. P K Mohta is also the current chairman of the company. The company is engaged in the manufacture of metal packaging products, in the Taloja district of Maharashtra.The company started by manufacturing aluminium collapsible tubes initially. In 1984, it diversified into the manufacture of round and oval tin containers for tooth and talcum powders. Since inception it has been supplying its products to reputed companies like Colgate-Palmolive, HLL, Balsara Hygiene products etc. In Mar.94, the company came out with rights-cum-public issue. The rights issue at par comprised of 20.52 lac equity shares aggregating Rs 2.05 cr, while the public issue was of 275 lac equity shares at a premium of Rs 15 each aggregating Rs 6.87 cr. The issue was made to finance the expansion programme for production of OTS cans, dry battery cell components and aluminium rigid containers (aerosol cans/bottles). As part of its diversification, the company proposes to manufacture 15,000 tpa of aluminium alloy rods at Silvassa with an estimated cost of Rs 10 cr. Company undergone the diversification scheme because of adverse money market conditions and sluggish sales of aluminium wire rods. In 1997-98 Company seriouly affected due to sluggish demand on consumer products and consequently less offtake from customers for Cans and Containers. The Company very much optimistic about improvement in operations & look forward if provided there is recovery in economy and improvement in consumer demand.