South India Paper Mills Ltd (516108)

South India Paper Mills (SIPM), incorporated in 1959, produces a range of writing, printing, and packing paper and paper boards from its Nanjangud factory. To increase the production capacity from 57 tonnes per day (tpd) to 69 tpd and build a co-generation facility to produce 2.7 megawatts (MW) of power by processing steam, the company initially went public in December 1994 at a premium of Rs.50 per share. The expanded capacity went operational in March 1995 and work on the co-generation project began in August 1995. This co-generation of power has substantially reduced the energy cost and helped increase the cost-competitiveness of SIPM. To enhance production capabilities further, SIPM has undertaken an expansion project, involving the installation of a turbo generating set of 8 MW capacity, an electro static precipitator system, a high-pressure boiler of 25 tonnes per hour (tph) capacity, and a new paper machine at an outlay of Rs.41 Crores. The project was completed as per schedule in November 2002, resulting in a total production capacity of 141 tonnes per day. The aforementioned project was funded by term loans from banks and financial institutions and internal accruals worth Rs.25 Crores and Rs.16 Crores, respectively.

Share Price: ₹74.83 per share as on 16 May, 2024 04:01 PM
Market Capitalisation: ₹139.20Cr as of today
Listing date: 19 Sep, 1996
Chairperson Name: Manish M Patel