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Orient Paper & Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1936 - The Company was incorporated on 25th July, at Calcutta. The
Company Manufacture Paper & boards & Cement.

1955 - 50,000 right tax-free pref. shares issued at par in proportion to
holdings.

1956 - Authorised capital increased. 50,000 right tax-free pref. issued
at par in proportion to holdings.

1961 - In May, 4,40,475 right equity shares issued at a premium of Rs 12
per share in prop. 3:10. Dividend rate on pref. shares increased
during the year.

1967 - 19,08,725 bonus equity shares issued in the prop. 1:2.

1978 - The name of the company was changed fron Orient Paper Mills Ltd.
to Orient Paper & Inds. Ltd., with effect from 31st September.

- A pilot pulp and paper plant was commissioned in February. The
pulp mill was redesigned for production of bleached pulp from
rags, hemp, cotton, stalk, etc., as also from bamboo or other
forest and/or agricultural residents.

1982 - In September, a cement plant was commissioned at Devapur (AP)
with an annual capacity of 9 lakh tonnes.

- 1,01,132-7.86% pref. shares and 43,850-5.50% pref. shares
redeemed.

1985 - 8,00,000-15% non-convertible debenture (IV Series) of Rs 100 each
were issued to augment long-term working capital resources and to
meet capital expenditure for modernisation. This issue was fully
subscribed.

1986 - The Company offered 15,000-15% non-convertible debentures (V
series) for Rs 15 crores to raise part of the finance for
implementing the second phase of the cement plant at Devapur in
Andhra Pradesh (all were taken up).

- 57,26,175 bonus equity shares issued in prop. 1:1 during the
year.

1989 - As on 31st March the company was holding 38,66,593 equity shares
of K.shr 20 each in Panafrican paper Mills (E.A.) Ltd. Kenya.

- The agreement with Panafrican paper Mills (E.A.) Ltd. for
providing technical know-how, management and other services was
renewed for a further period of 5 years with effect from 30th
June.

- During February-March, the company offered 4,30,000-14%
non-convertible secured debentures (VI series) of Rs 100 each to
resident holders of equity shares, preference shares and
debentures of the company as follows: (i) 1 debenture for every
120 No. of equity shares; (ii) 1 debenture for every 12
preference shares; (iii) 1 debenture for every 12 debentures.

- These debentures are to be redeemed in 5 annual instalments of Rs
20 each at the expiry of the 5th, 6th, 7th, 8th and 9th year from
the date of allotment at a premium of Rs 5 per debenture.

1990 - Towards the end of the year the second unit of the cement factory
to raise the installed capacity to 9 lakh TPA, was commissioned.

- The Company issued 5,00,000-14% secured non-convertible
debentures of Rs 100 each on private placement basis with
financial institution.

- CCI approvals were received for issue of 28,75,000-12.5% secured
redeemable partly convertible debentures of Rs 130 each on Rights
basis to the ordinary shareholders in proportion 1 deb: 4 equity
share held (all were taken up). Additional 4,30,650 debentures
were allotted to retain oversubscription.

- Another 1,43,750-12.5% partly convertible debentures were also to
be issued to the employees of the company on an equitable basis.
(only 79,360 debentures taken up).

- Rs 40 of the face value of each debenture was to be converted
into one equity share of Rs 10 each at a premium of Rs 30 per
share on 21.5.92. Rs 90 of the face value of each debenture was
to be redeemed at par in 3 equal annual instalments at the end of
8, 9, 10 years from the date of allotment of debentures.

- `Orient General Industrial, Ltd.', `Airconditioning Corporation,
Ltd.', and `Opi Export, Ltd.' (formerly, Motolite Ltd.) and
Orient Dealers & Traders, Ltd. are the subsidiaries of the
Company.

- As per the directive issued by the Board for Industrial &
Financial Reconstruction (BIFR), Springs India, Ltd. (SIL), with
an installed capacity of 540 TPA of precision springs at
Shahibabad, Dist. Ghaziabad (U.P.) was merged with the Company's
wholly owned subsidiary M/s. Orient General Industries, Ltd.
(OGIL).

1991 - The Company undertook to supply technical know-how for the
manufacture of paper in and outside India. A full fledged
research was therefore set up at Amlai for conducting research on
various aspects of paper industry, research on plantation and
utilisation of various fibrous materials to & solve the problems
of availability of raw materials for the manufacture of paper.

- Research work was undertaken on utilisation of several kinds of
wood for manufacture of paper and treatment of mill wastes.

- The Company undertook to expand the capacity of the mill from
96,000 TPA to 1,50,000 TPA by installing a bagasse based pulp
plant and a Board machine.

- The Company entered into an arrangement with Birla Brothers Pvt.
Ltd., for participation in the expansion project of Nigerian
Paper Mills, Ltd., Tebba, Nigeria. The Company was to receive in
consideration of its technical services and know-how from Birla
Brothers Pvt. Ltd.

1992 - First stage of oxygen bleaching was commissioned for improved
brightners of paper. The second stage of chlorine di-oxide
bleaching was commissioned during 1993-94.

- On 24th June, a Memorandum of understanding was entered into with
State Industrial & Investment Corporation of Maharashtra Ltd.,
(SICOM) for setting up a 80,000 TPA bagasse based plant to
produce newsprint/working and printing paper. Efforts were on to
implement the joint sector company in the name of Birla Paper
Industries, Ltd.

- 33,85,010 No. of equity shares allotted (prem. Rs 30 per share)
on part conversion 12.5% debentures Pref. shares redeemed on
31.5.1993.

1994 - Production at both the paper mills at Amlai and Brajrajnagar was
adversely affected due to water shortage during the summer
months.

- At Amlai a new drum chipper was install at the Brajrajnagar
mills, orders for 350 TPD recovery boiler, an additional Drum
Chipper and a new coal handling plant was placed.

1995 - The Company granted technical and financial collaboration to
Panafrican Paper Mill (E.A.) Ltd., for setting up pulp and paper
mill in Kenya.

1996 - The Mill at Amlai was shut for a period of 5 weeks due to acute
shortage of water. The production of Brajrajnagar was also
affected due to breakdown of machinery and slow down tactics
adopted by workmen in some sections of the mill.

- A 6 MW Back Pressure Turbine was commissioned at Amlai to reduce
power cost and reduce dependence on outside supply.

- The installed capacity of the plant was expanded to 11.8 lakh
tonnes per annum. Further modernisation cum expansion scheme was
under implementation to increase cement manufacturing capacity to
17.5 lakh tonnes per annum.

1997 - At the Brajrajnagar Unit due to a major overhaul of the plant and
equipment, the entire plant was shut for nearly 3 months
resulting in lower total production of paper and board.

- The upflow tower system, for chlorine dioxide bleach plant at
Amlai and the 350 tonnes recovery boiler and electrostatic
precipitator at Brajrajnagar were commissioned. The new tissue
plant at Amlai was also commissioned.

- The Modernisation cum expansion scheme to increase the cement
manufacturing capacity to 17.5 lakh tonnes p.a. including setting
up of a split grinding unit of 5.70 lakh tonnes per annum at
Jalgaon.

2000 - C.K. Birla-owned Orient Paper and Industries Ltd has decided to
sell its cement division.

- M.M. Yesaw, General Manager, IDBI has been appointed as Director
of the company effective from 21st July.

2001 - The Company's shareholders have proposed to issue, offer and allot 75,00,000
ordinary shares of Rs 10 each to promoters, group companies and their associates
for an aggregate amount of Rs 19.50 crore at Rs 26 per share on private placement basis.

2003

-Orient Paper gets environment award for the year

2004

-Orient Paper & Industries Ltd has informed that V Nachiappan, General Manager, ICICI Bank Ltd. has been appointed as a Director of the company, nominee of ICICI Bank Ltd. in place of Shri Balaji V Swaminathan, the existing nominee of ICICI Bank Ltd. with effect from May 25, 2004

2007

-The company has issued rights in the ratio of 3:10 at a premium of Rs.350/- Per Share.

2008

- The Company has splits its face value from Rs10/- to Rs1/-.


2009

- Board of Directors of the Company at its meeting held on inter alia, has recommended Dividend of Rs 1.50/- per Equity share (150%).

- Mr. Michael Bastian as an Additional Director of the Company.


2010

- Board of Directors of the Company at its meeting held on inter alia, has recommended Dividend of Rs. 1.50/- per Equity Shares (150%) for the year ended.

- Board for Industrial and Financial Reconstructions (BIFR) vide its order dated has approved the merger of Air Conditioning Corporation Ltd., a wholly owned subsidiary of the Company with Orient Paper & Industries Ltd.


2011

- Board of Directors of the Company at its meeting held on April 27, 2011, inter alia, has recommended Dividend of Rs. 1.50 per Equity share (150%) for the year ended.


2012

- Board of Directors of the Company at its meeting held on May 02, 2012 has recommended Final Dividend of Rs.1/- per Equity Share (100%) for the year ended.

- Shri. Narendara Singh Sisodia has been appointed as an Additional Director of the Company.

2013

-The Company Company in connection with split of cost of acquisition of shares in Orient Paper & Industries Ltd. consequent upon allotment of shares of Orient Cement Ltd. in terms of the Scheme of arrangement.

-OPIL appoints Ram Prasad Dutta as Compliance Officer

2014

-Ms. Gauri Rasgotra has been appointed as an Additional Director (Independent) of the Company w.e.f. September 26, 2014

-The Company has recommended Dividend of Re. 0.10 per Equity Share (10%) for the year ended March 31, 2014.

2016

-Orient Paper & Industries Ltd giving information on operational performance of Paper Division of the Company.

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