Apt Packaging Ltd Share Price

History of Apt Packaging Ltd

APT Packaging Limited (Formerly known Anil Chemicals & Industries Ltd) was incorporated on Jun.'80 as Anil Chemicals Pvt Ltd and was converted into a public limited company in 1985. It acquired its present name in Jan.'96. The company is engaged in the manufacture of prilled ammonium nitrate, ammonium nitrate-fuel oil mixed (ANFO), emulsified bulk explosives and waterproofing compounds. It has plants at Chikalthana, Maharashtra; Panoli, Gujarat; Waidhan, Madhya Pradesh and Nandrabad, Maharashtra. The company has been promoted by the Machhar group. The company was the first in the country to launch the latest state-of-the-art bulk-loading system at the open-cast mines of Northern Coalfields. It was also the first company in the private sector to sell bulk explosives to Coal India. ACL i ...s the first in the country to manufacture multi-layer co-extruded tubes used in the packaging of dental and health-care products at Chitegaon, Maharashtra. In recognition of its R&D efforts, ACL received the NRDC award for developing the ANFO master machine for the preparation of emulsified ANFO bulk explosives. ACL has diversified into the manufacture of waterproofing compounds under a technical collaboration with Atomised Materials, US, at Nandrabad near Aurangabad. It has also diversified into the manufacture of co-extruded plastic tubes with a capacity of 75 mln tubes pa. Navneet Machine Manufacturing Company is the subsidiary of the company. The company has been referred to the BIFR as its losses has exceeded its networth in 1999. As there was a pending decision in price fixation against Coal India Ltd the operations of the plant at Waidhan and Jharsuguda remain suspended. The name of the Company was changed to Apt Packaging Limited from the earlier name Anil chemicals & Industries Ltd. during year 2008. In 2009, In terms of Demerger process of the Company, all Divisions of Aurangabad territory i.e. Pharola Division, Chikalthana Division and Nandrabad Division was retained with the exiting Company and all other Divisions i.e. Panoit Division, Waidhan Division. Jharsuguda Division jointly known as Chemical Division were transferred to Machhar Infrastructure Limited effective from 01.10.2008. To affect the demerger ordered by Hon'ble BIFR, one share of Rs. 4 each in the existing Company i.e. Apt Packaging Limited and 0.1 share of Rs. 10 each. in Machhar Infrastructure Limited was allotted to the holder of one of Rs 5 each of the existing Company issued. The Laksar Plant near Haridwar commenced commercial production effective 24th March 2010.