Shree Krishna Paper Mills & Industries Ltd

Shree Krishna Paper Mills & Industries Limited was established on 14 September, 1972. The Company is principally engaged in the manufacturing and selling of news print paper and other value-added papers. In 1974, the company took over a paper unit located at Bahadurgarh from Bansal Paper Mills. It then undertook a major modernisation programme. The company, in 1989, acquired Bhargava Papers Pvt Ltd which has a unit at Ghaziabad, Uttar Pradesh. This manufacturing unit is non-operational at present. The company decided to acquire this unit to expand its existing activities but, at a later date, an additional plot of land adjacent to the existing plant at Bahadurgarh, Haryana, was purchased by it. Since it was not logical to have two sets of similar organisations and manufacturing facilities in two different places, it decided to dispose off this unit to concentrate on the diversification and expansion plans at the Bahadurgarh unit. Company came out with a Rs 4.37-cr public issue in 1995 to part-finance a project to manufacture thermal sensitive paper (fax paper). The company has a technical agreement with Hansol Paper, South Korea, to manufacture fax paper. This project was delayed due to delay in the machinery imported, however the production was commenced during 1996-97 for the project. Company had a Paper unit at Kotputli, Rajasthan, which was set up in 2004. During 2009-10, the Company restarted its Keshwana Unit for production after the modificiation as projected under the Restructuring-cum-Enhancement Package. In FY 2014-15, the performance was affected due to unhealthy competition in the coated paper industry from the imported products resulting major reduction in sales of coated paper, substantial decline in selling price of newsprint paper and increase in power tariff. The reference filed by the Company with Board for Industrial & Financial Reconstruction based on negative net worth as on March 31, 2014 was been registered by the Board. The overall revenue decreased as the Company discontinued the production facilities at its Bahadurgarh Unit in 2016. The net worth of the Company became positive and accordingly, the necessary reference was made to the Board. In 2023-24, performance of the Company got affected due to supply chain disruptions resulting into multifaceted effects on the Company's operations like higher transportation cost and scarcity of imported raw materials. Further, price of raw materials were also increased.