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Speciality Papers Ltd. Company History and Annual Growth Details

YEAR EVENTS

1961

-The Company was Incorporated on 18th July, at Ahmedabad. The company's object is to manufacture speciality paper and other types of papers and pulp and also manufacture of machinery for the pulp and paper industry.

1962

-51,000 shares subscribed for by promoters, etc. In January, 49,000 shares offered at par for public subscription.

1964

-Pref. shares redeemable after 7 years but before 12 years from the date of allotment at the company's option.

1966

-75,000 No. of equity shares issued at par in 1965-66.

1985

-1,20,000 No. of equity shares issued on private placement. Shareholders of the company were also invited to subscribe for them.

-The company revalued its land and buildings as on 30th September.

1988

-Production could not be stepped up due to delay in the receipt of equipments under the rehabilitation package.

1989

-The Company came under the provisions of the Sick Industrial Companies (Sp. Provisions) Act, 1985 and as per its requirement a reference to the Board of Industrial and Financial Reconstruction (BIFR) was made. The BIFR had finalised a scheme for the revival of the company. BIFR gave its approval for a revised scheme by its order dated 15th June, 1992. Steps were taken to implement the said revised scheme.

-60,000 No. of equity shares allotted at par to the promoters,etc.

1991

-The company suffered a heavy loss due to adverse market condition in the first half of the year followed by strike resorted to by workmen for 111 days ie., from 12th December, to 31st March 1992.

1992

-There was no production for 56 days due to strike by workmen. Due to adverse market conditions in the paper industry, sales declined forcing the company to cut down its production.

1993

-The Company suffered a loss due to adverse market conditions in the paper industry.

1995

-The Company suffered a loss due to unforeseen circumstances.


-The BIFR scheme was approved of the full repayment to IRBI was made with respect to outstanding. With a view to expansion of existing facilities, a Rights issue was proposed to be made.

2003

-Bags export orders from Far East

2006

-Speciality Papers secures export order from USA

2008

-The Company has bagged large export order from Latin American countries worth US $ 0.5 million.

-The Company has procured USD 1.5 M Order for its speciality grade papers from South East Asian Procurers.

-The Company was awarded CERTIFICATE OF EXPORT RECOGNITION in appreciation of Company's Export Achievement in Chemical and Allied Products (LST).

-The Company has approved the bonus issue and approved a 1:1 Bonus ratio.

2009

-The Company has been awarded as "EXPORT HOUSE" by the Ministry of Commerce.

-The Company has bagged export order from Oman, of around 2000 tons.

2010

-The Company has bagged export orders worth 600 MT in the recently concluded Asian Paper (Trade Fair) in Thailand.

2011
-Speciality Papers appointed Ms. Priyanka Anant Khopade, as the Company Secretary of the organization.

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