Enter the first few characters of Company and click 'Go'

Perfectpac Ltd. Company History and Annual Growth Details

YEAR EVENTS
1972 - The company was incorporated on 7th February, at Delhi. The main
object of the company is to manufacture kraft paper, duplex board
and various types of packaging materials including corrugated
rolls and sheets and boxes, printing wrappers including waxed
paper and water-proof paper.

1974 - In January, 2,70,000 shares issued at par: 18,000 shares reserved
for allotment to promoters, directors, etc. and 2,52,000 shares
offered to the public.

1979 - 1,68,000 No. of equity shares issued at par as rights in the
proportion 2:5.

1980 - The new tissue and paper plant was commissioned in March.

1985 - Sale and production of the packaging division improved. However,
the working of the paper division was unsatisfactory due to low
capacity utilisation which resulted from the shortage of working
capital and erratic supply of major inputs.

- The company came under the `Sick Industrial Companies (Sp.
Provisions) Act, and the directors proposed to approach the
Board for Industrial and Financial Reconstruction (BIFR) with a
scheme of revival. BIFR prima facie concluded that the company
could not be made viable and should be wound up.

1986 - The working of the paper division continued to suffer for want
of working capital. In addition, the company had to declare a
lock-out in the paper division in October due to labour trouble.

1987 - The directors submitted a plan for the consideration of BIFR
which envisaged the disposal of paper division.

1989 - As per the terms of the scheme, the paper division was to be sold
and the proceeds of the sale were to be used for repayment of
loans, workers compensation, etc. If the sales proceeds falls
short of payment to be made therefrom, the promoters have to
arrange funds to meet the shortfall.

1990 - 80,000 No. of equity shares issued at par.

1993 - During the year, the company commenced the activity of
trading/dealing in paper and investment in shares and other
securities.

- The company has been discharged firm the purview of the BIFR.

- The promoters, therefore, proposed to issue 2,00,000 No. of
equity shares of Rs. 10 each at par on private placement basis.

1994 - The company proposed to diversify into manufacture of expanded
polystyrene products.

1995 - The business activity of paper trading contributed handsomely to
the profitability of the company.

- The company proposed to increase the capacity of printing and
writing paper from 3,000 tonnes to 5,600 tonnes per annum and to
install a new paper plant for the manufacture of 3,650 tonnes per
annum of M.G. tissue and other light weight paper with sufficient
pulping facility.

- The expansion project for polystyrene products was delayed and is
expected to commence production shortly. The company is also
planning to venture into manufacture of Blow Moulded containers.

2009
-Perfectpac Ltd Issues Rights in the Ratio of 1:1

2022
-The Company has splits its face value from Rs. 10/- to Rs. 2/-.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article