Company History: YEAR EVENTS1974 - The company was incorporated on 23rd July at Vapi Gujarat. The company was promoted by Rambhai Haribhai Patel and his associates. The main objectives of the company is to manufacture paper and paper board and paper grade pulp.1979 - 2 625 Pref. shares taken up.
1980 - 500 more Pref. shares taken up.
1984 - Negotiations for land plant and machineries were finalised and orders placed.
- In July a group of shareholders jointly and severally through Vapi Paper Mills Ltd. as their constituted attorneys offered for sale 2 45 000 equity shares of Rs. 10 each (fully paid-up) of the company for cash at par.
1985 - The company undertook to diversify into texturising twisting crimping and dyeing of nylon polyester filament and other yarn.
1987 - The performance of the company was severly affected due to increasing costs of inputs power and water.
1989 - The performance of the company was reported to be satisfactory due to better realisation from finished products and improved market conditions for the paper industry. 1990 - The company's overall working continued to be satisfactory. But for the higher incidence of tax profit could have been still higher.
- 4 96 050 Bonus shares issued in Prop. 1:1.
1993 - The overall working was reported to be highly satisfactory. This was attributed to improvements achieved by virtue of expansion cum modernisation programme undertaken by the company.
- The expansion of yarn division and first phase of modernisation cum expansion of paper division was successfully completed.
- 11 95 260 Rights Equity shares issued (prem. Rs. 40; prop. 6:5). Only 10 85 400 shares taken up.
1995 - The company proposed to diversify its product range to `Duplex Board' to give value addition to product range.
