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Orient Paper and Industries > Company History > Diversified > Company History of Orient Paper and Industries - BSE: 502420, NSE: ORIENTPPR
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Orient Paper and Industries

BSE: 502420|NSE: ORIENTPPR|ISIN: INE592A01026|SECTOR: Diversified
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Company History - Orient Paper and Industries
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.
 
Source : Dion Global Solutions Limited
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