Kanpur Plastipack Share Price

Promoted by M S Agarwal in 1971, Kanpur Plastipack started as a small scale industry and has grown to become a medium sized manufacturer of woven sacks. The company had put up a plant in Kanpur, at a cost of Rs 460 lac to manufacture 1425 tpa, which was later on increased to 1890 tpa. It also set up additional facilities to manufacture paper lined plastic bags. In Oct.'86, the company came out with a public issue to part-finance the expansion of its capacity from 1890 tpa to 3755 tpa. Its client list includes IEL, IFFCO, FACT, J K Synthetics, Straw Products, etc. In 1990, the company started producing paper lined plastic bags at its plant which was lying idle for the last two years. The adverse market conditions, impact of the Jute Packing Control Order and various other reasons affected the operations of the company. It suffered continuous losses, thereby becoming a potentially sick unit. Subsequently, it came into the purview of the BIFR in 1991. The BIFR sanctioned a rehabilitation package in Jul.'92, which was implemented by the company. In 1992-93, the company formulated a scheme to upgrade the technology further with installation of balancing equipments to incease its plastic woven sack manufacturing facilities by 25%. In 1995-96, the production and sales were higher than the previous year. Activities in the jute bags division remained totally in-operative during the year. During the year 1999-2000, the company has been granted ISO 9002 Certification by NQA Quality Systems Registrar Ltd., accredited by Dutch Council for Certification (RVC).