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Malu Paper Mills Ltd. Company History and Annual Growth Details

The company was incorporated on January 11, 1994 under the
Companies Act 1956, as Malu Solvex Limited. The registered office
of the company is situated at Nagpur, Maharashtra. The name of
the company was later changed to Malu Paper Mills Limited on
April 24, 1998.

The company belongs to the Malu group having interests in
manufacturing & trading of electrodes, Manganese, Coal, Lignite, Imported
Coal, Mild steel ingots etc. other than Paper.

The first paper machine of the company has commenced production in
the year 1996 with a capacity to produce 5940 TPA of Kraft papers, which
later on with gradual up gradation and modification has been increased to
8250 TPA

Considering the vast potential, MPML has also set up one more unit at the
same location to produce 19800 TPA of Newsprint in 2001. The plants are
running successfully and generating cash profits since its inception
MPML has registered a gross turnover of Rs. 4867 Lacs and PBT of Rs. 444
Lacs for the FY 2004-05.

The company has been granted incentives as notified in Package scheme of
Incentive 1993 by Government of Maharashtra for its existing units.

The unit is entitled to Deferment/exemption from payment of sales tax for 15
years subject to maximum of 125% of fixed assets value. The Company is entitled
to refund of Octroi duty/ entry tax subject to maximum of 100% of fixed capital
investment, payable/paid on import of all items.

The company now proposes to go in for a new paper machine line of 150 TPD
capacity capable of manufacturing Premium quality Newsprint. The company
has already identified the machines for this project. The machine is capable of
manufacturing premium quality paper. The company wants to tap this niche
market where there are very few players in the market. The strength of the
company lies in executing the project at low cost.

Important events in the history of the Company are as follows:

Year Events

1994 Company Incorporated as Malu Solvex Limited
1996 Production Commenced with a capacity to produce 5940 TPA of Kraft Paper.
1997 Production Capacity Increased to Produce 8250 TPA of Kraft Paper.
1998 Name Changed to Malu Paper Mills Limited
2001 Production Commenced with a capacity to produce 19800 TPA of Newsprint.

2006

-Malu Paper Mills Ltd has informed that the Chairman of the Company, Shri Bhanwarlal Malu father of Shri Banwarilal Malu expired on October 19, 2006.

2008

-Malu Paper Mills Ltd has has signed Memorandum of Understanding (MOU) with Government of Maharashtra on March 15, 2008 for setting up Mega expansion project.
 
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