About Sharon Solutions Limited
Data last updated:
Sharon Solutions Limited is a public limited company based in Chennai, Tamil Nadu, India. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency professional. It operates in the electronic components and equipment manufacturing segment of the technology and IT services sector. It was incorporated on 19 October 2001.
The company is registered with the Registrar of Companies (ROC), Chennai, under CIN U51506TN2001PLC047919. Its GSTIN is 34AAFCS8729J1ZX (Puducherry). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹10 Cr and a paid-up capital of ₹9.36 Cr. It is led by directors including Kamalraj Johnson (Managing Director) and Udayakumar Uma Maheswari.
Its last annual general meeting (AGM) was held on 30 November 2021, and its latest financial statements are for the year ended 31 March 2021. The registered office is at Ground Floor Jeena House No.520 M.K.N Road Alandur, Chennai, Tamil Nadu, India – 600016.
As per the financials filed for FY 2021, the company reported a revenue of ₹29.04 Cr, a decline of 38% compared to the previous year. For the same year it recorded a net profit of ₹1.54 Cr (net margin 5.3%) and EBITDA of ₹4.74 Cr (EBITDA margin 16.3%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 15% over five years.
The company has about 40 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹198.13 Cr and satisfied charges of ₹5.77 Cr on record. Court records list 93 cases involving the company, including 71 filed by the company and 22 filed against it; 12 cases are pending. The company has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹1.63 Cr; the latest was in April 2009.
The last known website on record is sharonsolutions.com.
Company details
CIN history
Sharon Solutions has one previous CIN (Corporate Identification Number): U51506TN2001PTC047919. The current CIN is U51506TN2001PLC047919, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U51506TN2001PLC047919 | Current |
| U51506TN2001PTC047919 | Previous |
Contact details
Sharon Solutions Limited's registered office is in Chennai, Tamil Nadu. Its website is sharonsolutions.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressGround Floor Jeena House No.520 M.K.N Road Alandur, Chennai, Tamil Nadu, India – 600016
- IndustryInformation Technology, Electronic Components & Equipment Manufacturing
To see the full contact details of Sharon Solutions Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Sharon Solutions is professional, scientific and technical. In detail, this covers other professional, scientific and technical activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities |
To see the full business activity and turnover split of Sharon Solutions Limited, buy the company report.
Financials of Sharon Solutions Limited
FY 2021 filings availableSharon Solutions Limited reported revenue of ₹29.04 Cr (down 38% YoY) for FY 2021.
Compounded Annual Growth Rate (CAGR)
Revenue fell 38% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 15%. EBITDA fell 7% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
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| EBITDA | ₹4.74 Cr | ||||
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| Net Profit (PAT) | ₹1.54 Cr | ||||
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Financial Ratios
| Metrics | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 |
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| EBITDA Margin | 16.3% | ||||
| Net Profit Margin | 5.3% | ||||
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To see the full financial statements and ratios of Sharon Solutions Limited, buy the company report.
Board of directors of Sharon Solutions Limited
Sharon Solutions has 3 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Udayakumar Uma Maheswari Also directs: C32 Pex Global Technology Holdings Private Limited | Director | 20 May 2005 | 21 Years 5 Months | As last reported |
| Kamalraj Johnson Also directs: C32 Pex Global Technology Holdings Private Limited | Managing Director | 19 Oct 2001 | 25 Years 0 Months | As last reported |
| Poonam Garg Also directs: De Core Nanosemiconductors Limited. | Nominee Director | 09 May 2012 | 14 Years 5 Months | As last reported |
Auditor
Sharon Solutions Limited is audited by C S HARIHARAN & CO for the financial year 2018.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| C S HARIHARAN & CO | FY 2018 | 001086S |
Shareholding
The shareholding of Sharon Solutions Limited is on record for FY 2018, split between promoters, domestic institutions, public shareholders and others.
| Shareholder category | FY 2018 |
|---|---|
| Promoters | |
| Domestic institutional investors (DII) | |
| Public | |
| Others |
To see the full shareholding pattern of Sharon Solutions Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 28 Sep 2013 | 10455777 | Uco Bank | ₹65 Cr | Open | |
| 15 Jun 2013 | 10437084 | Canara Bank | ₹18 Cr | Open | |
| 04 Mar 2013 | 10412324 | Uco Bank | ₹22 Cr | Open | |
| 04 Mar 2013 | 10412330 | Uco Bank | ₹12 Cr | Open | |
| 03 Feb 2011 | 10340683 | Federal Bank Limited | ₹7.5 Lakh | Open |
To see the full charge records of Sharon Solutions Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
Sharon Solutions Limited has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹1.63 Cr; the latest was in April 2009.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2009 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: 2 individuals |
| Apr 2009 | Funding round | ₹48.3 Lakh | Investors: an individual |
| Mar 2008 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: an individual |
| Jan 2007 | Funding round | ₹1.14 Cr | Investors: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Sharon Solutions Limited has 93 court cases on record: 71 filed by Sharon Solutions, 22 filed against it. 12 cases are pending and 81 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 61 | 11 | 9 |
| District courts | 30 | 10 | 3 |
| NCLT | 2 | 1 | 0 |
Cases on record (5 of 93)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Chennai, Tamil Nadu | Court case (COS) | Filed against the company by Schenker India Private Limited | Pending |
| High Court, TAMIL NADU | Court case (COMP.A) | Filed by the company against Ifci Venture Capital Funds Ltd.Rep.By Its Authorised Signatory and 1 other | Pending |
| District court, Chennai, Tamil Nadu | Court case (COS) | Filed against the company by Versatile Card Technology | Disposed |
| High Court, TAMIL NADU | Court case (COMP.A) | Filed by the company against Ifci Venture Capital Funds Ltd., Rep.By Its Authorised Signatory and 1 other | Disposed |
| District court, South, Delhi | Commercial suit | Filed against the company by Emu Lines Pvt.Ltd. | Disposed |
To see the full case history of Sharon Solutions Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Sharon Solutions Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Sharon Solutions Limited has a workforce of 40 employees on its EPFO records as of Mar 28, 2024, across 1 active EPFO establishment.
GST
Sharon Solutions has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 34AAFCS8729J1ZX | Puducherry | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Sharon Solutions Limited, buy the company report.
Recent activity
Sharon Solutions Limited has 12 board changes on record since 2001: 3 appointments and 9 cessations. The latest: Hephzibha Joybell ceased to be Director on 31 Jul 2019.
14 earlier events are in the company report.
Frequently asked questions
Sharon Solutions is undergoing "Corporate Insolvency Resolution Process" (CIRP) under the Insolvency and Bankruptcy Code, 2016. Management control has been transferred to an insolvency resolution professional. The company may not be able to independently enter into new commitments during this period. This is a high-risk status - verify the resolution status before any engagement.
Sharon Solutions is a company under insolvency, formerly operating as a public limited company based in Chennai, Tamil Nadu, India. The company works in electronic components and equipment manufacturing, within the information technology industry. It was incorporated on 19 October 2001 and is registered under CIN U51506TN2001PLC047919. Caution is advised - the company may not have the legal capacity to fulfil new agreements.
Sharon Solutions has 3 current directors:
- Kamalraj Johnson - Managing Director
- Udayakumar Uma Maheswari - Director
- Poonam Garg - Nominee Director
The latest financial statements of Sharon Solutions on record with the MCA are for the year ended 31 March 2021. Its last annual general meeting was held on 30 November 2021. Year-wise statements from 2015 are in the company report.
The CIN (Corporate Identification Number) of Sharon Solutions is U51506TN2001PLC047919. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sharon Solutions has open charges of ₹198.13 Cr and satisfied charges of ₹5.77 Cr as per latest MCA filings.
Sharon Solutions has 93 court cases on record: 71 filed by the company and 22 filed against it. 12 are pending. Most are in the high courts.
Sharon Solutions was incorporated on 19 October 2001. It is registered with the Registrar of Companies, Chennai.
Sharon Solutions has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹1.63 Cr; the latest was in April 2009.
Hephzibha Joybell ceased to be Director on 31 Jul 2019. Satpal Kumar Arora ceased to be Nominee Director on 25 Feb 2013. Daniel ceased to be Director on 19 Oct 2012. Sharon Solutions has 12 board changes on record in total.