Rama Paper Mills Ltd Share Price

History of Rama Paper Mills Ltd

Rama Paper Mills Limited incorporated on December 4, 1985. The Company was promoted by Pramod Agarwal and his brother Arun Goel with the main object of carrying on business of production and sale of all kinds of paper and board related products. Raama Paper Mills Limited is a leading Indian Newsprint, Duplex Board, Tissue manufacturing Company, and is engaged in the manufacturing of newsprint, duplex board and writing & printing paper by recycling waste paper. They offer coated/ uncoated duplex board paper used to make small packaging/ small cartoons used by pharmaceuticals, soaps, paste, apparels, and tea industries. The products manufactured by the company include standard newsprint, deluxe newsprint, super deluxe newsprint, prime cream wove, super deluxe cream wove and deluxe cream ...wove. In the year 1988, the company set up their first manufacturing unit at Bijnor in Uttar Pradesh with the initial installed capacity of 3300 Tonnes Per Annum for manufacture of duplex/triplex board (Unit I). The company subsequently enhanced to 9000 TPA. During the year 1992-93, the company diversified into manufacture of writing and printing paper by setting up Unit II with the installed capacity of 8.250 TPA. The name of the company was changed from Ram Paper Mills Ltd to Rama Paper Mills Ltd with effect from November 16, 1994. During the year 1995-96, the company also diversified into manufacture of newsprint by setting up Unit III with the installed capacity of 18.500 TPA. During the year 1998-99, they increased the production capacity of Newsprint, Writing & Printing Paper & Duplex Board from 36,500 MT to 39,500 MT. During the year 2006-07, the company increased the production capacity of Newsprint, Writing & Printing Paper & Duplex Board from 39,500 MT to 44,000 MT. During the year 2007-08, the company installed 6 MW bio mass based Co-generation project with latest equipments at a capital expenditure of Rs 25.50 crore. During the year 2008-09, it commissioned modernization project to upgrade the quality in all their existing three units. In September 2009, the Company commissioned their expansion project of Installing MG machines with the capacity 16,320 TPA to manufacture Tissues/ Poster Papers. However, the operations of the Company are completely in shut mode due to acute shortage of working capital in 2024. The Hon'ble Allahabad Bench of National Company Law Tribunal (NCLT) vide its order dated 07.06.2024 has initiated Corporate Insolvency Resolution Process (CIRP) based on the petition filed by M/s Amar Ujala Limited and another under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Sandeep Kumar Agrawal was appointed as the Interim Resolution Professional (IRP) to manage the affairs of the Company in accordance with the provisions of the code.