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Malu Paper Mills > Company History > Paper > Company History of Malu Paper Mills - BSE: 532728, NSE: MALUPAPER
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Malu Paper Mills

BSE: 532728|NSE: MALUPAPER|ISIN: INE383H01017|SECTOR: Paper
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Company History - Malu Paper Mills
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.
 
 2007
 
 -Company  has informed  the following e-mail ID for Investors'
 Grievance Redressal Division / Compliance Officer of the Company:
 contact@malupaper.com.
 
 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.
 
 
Source : Dion Global Solutions Limited
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