Andhra Paper Ltd - ANDHRA PAPER Share Price

Summary

Andhra Pradesh Paper mills, currently a L N Bangur group company was originally set up by a private entrepreneur and changed hands twice in the pre-independence period because of losses. Later in the year 1953, the company was taken over by the Indian Government. Pursuant to an agreement between the Government of Andhra Pradesh and G D Somani, an Industrialist, the Andhra Pradesh Paper Mills, as we know it today, came into being. It was incorporated as one of the first Joint-Sector Companies in India. Somani later transferred his rights and obligations to the West Coast Paper Mills of the current owner L N Bangur. Currently L.N.Bangur Group is holding around 68% of the total investment. Its manufacturing units is situated at Rajahmundry and Kadiam in East Godavari District of Andhra Pradesh.The Company is one of the top ten leading integrated pulp and paper manufacturers in IndiaProduction was increased to 100 tpd in 1970 and to 250 tpd in 1977.The company went through a bad patch in the mid-80s with capacity utilisation much below than installed and with accumulated losses reaching Rs 7 cr. The company launched vigorous HRD programme to stop labour unrest, modernised mill processes and equipment, and commissioned a 10.5-MW turbo-generator for its power requirements. This measures strengthened the bottom line from 1988 onwards.Having commissioned its coating plant to manufacture value-added coated papers and also having installed an on-line process computer control system on... Read More