Industry Structure and Developments
Growth of coated papers segment is inextricably linked to structural economic factors like improvements in literacy rates, higher spending on education and growth of print and the media industry. Given its low per capita paper consumption base of 5 kgs compared to the world average of 54 Kgs, demand for all grades of papers and boards in the country has got to increase at a healthy rate. Coated papers and boards segment has been witnessing higher rate of growth, in particular. Apart from a few large paper mills, sizeable portion of the demand for Coated papers and boards is catered to by medium/small sized manufacturers.
Opportunities and Threats
With changes in copier and printer technology, there is greater consumer sensitivity to the quality of branded papers. Our branded copier paper has started gaining acceptance and popularity in various markets. The problem of low priced Coated papers dumped into India by some vested interests is continuing unabated. Such clandestine imports are posing severe threats to the indigenous industry.
Segment-wise or Product-wise Performance.
The company is primarily engaged in the manufacture of one-side and two-side coated papers and Boards, branded photocopier and S S Maplitho. Besides trading in imported paper.
Outlook
Due to High imports of Coated Papers and excess capacity of Uncoated Papers the outlook for recycle based paper industry is very grim. Hence the Directors are looking for other options either in Paper Industry or in any other industries to overcome the down trend and revive the company.
Risks and Concerns
There is no perceptible risk the company can think of at the moment. It is, however, a matter of concern that prices of all the critical inputs are continuing to rise steeply thereby affecting the profitability of paper industry.
Internal control systems and adequacy
The company follows sound and healthy business practices in all facets of its operations and conducts its business in a transparent manner.
Discussion on financial performance with respect to operational performance.
There has been drop in the production and sales during the period under review and the main accusatory factor has been suspension of the company’s operations for a couple of days wing to poor sale and non-availability of labor , quality waste paper , dumping of imported paper and high input cost. The company, therefore, failed to maintain regular and economical level of production which ipso facto resulted into low turnover and consequential losses.
The company is making every possible effort to achieve and maintain economical level of production.
Material developments in human resources/ industrial relations front including number of people employed
During the financial year under review, it would be observed that no major additions are being done to avoid overstaffing. Exgratia, etc. is being provided to workers for motivation and promoting higher efficiency at lower levels.
General Body Meeting
Location and Time for last 3 Annual General Meeting were:
Year/ Period | A.G.M | Location | Date | Time |
2012-13 | A.G.M | AG-23, | 30.09.13 | 2.00 p.m. |
Shalimar Bagh, | ||||
New Delhi | ||||
2013-14 | A.G.M | AG-23, | 30.09.14 | 2.00 p.m. |
Shalimar Bagh, | ||||
New Delhi | ||||
2014-15 | A.G.M | AG-23, | 30.09.15 | 2.00 p.m. |
Shalimar Bagh, | ||||
New Delhi |
For the above years, there have been no resolution passed by the Company’s shareholders through postal ballot. At the ensuing Annual General Meeting, there is no resolution proposed to be passed through postal ballot. Disclosures on materially significant related party transaction i.e, transaction of the company of material nature, with its promoters, the directors or the management, their subsidiaries or relatives, etc. that may have potential conflict with the interests of the company at large. Suitable disclosure a required by Accounting Standard ( AS-18) – Related Party Disclosures has been made in the Annual Report. No penalties have been imposed by the Stock Exchange(s), SEBI or any authority under the capital market regulations during the last three years.
Means of Communication
The Quarterly Results are normally published in ‘Money Maker’, Mahalaxmi. The annual audited accounts are also like-wise published. The half yearly report is not sent separately to each household of the shareholders. The half yearly results along with corresponding half year results are published in the newspaper. Annual reports are sent to each shareholder at their address registered with the Company.
Company’s website:
The Company has not created any website due to financial crunch. Any information, grievance etc. can be sent at company’s email pitambercoated@gmail.com.
General Shareholder Information
AGM Date and Time | 30th September 2016 at 2.00 P.M. |
Venue | AG-23, Shalimar Bagh, New Delhi |
Book Closure | 27-09-2016 to 30-09-2016 |
Date | (both days inclusive) |
Dividend | Not applicable |
(as not recommended by Board of Directors) | |
Stock Exchange | ISIN INE189C01019 |
ISIN No. | |
Listing of Equity Shares on Stock | The Stock Exchange, Mumbai |
Exchanges |
Market Price Data
The trading of the company’s share is under suspension in the Mumbai Stock Exchange. The company filed an application to BSE to effect the capital reduction and capital increase in terms of the BIFR Order. Approval on the subject is still awaited.
Registrar & Transfer Agent
M/S Alankit Assignment Ltd.,
Anarkali Apartments,
2E/21, Jhandewalan Ext, New Delhi.
Share Transfer System
The Share transfer which are received in physical form are processed and the share certificates returned within a period of 21 days from the date of receipt, subject to the documents being valid and complete in all respect. Share Transfer in not under process because the approval from BSE to Capital Reduction and Capital increase in term of BIFR Order dt. 13.09.2009 is still awaited.
*Status of Dematerialization of shares as on 31-03-2013: Shares in demat form in NSDL, CDSL and physical form are subject to change in term of BIFR Order dt. 13.09.2009 The aforesaid change had been effected in terms of clause 10.3 of the sanctioned scheme related to reduction of share capital which provide the Equity capital of PCPL would be write down by 90% . And similarly clause 11.7 of the sanctioned scheme reiterates that the existing capital of the PCPL shall reduced by 90% and then every equity shares (of face value of Rs. 10/- each ) shall be consolidated into one equity share of Rs. 10/- each fully paid up in term of sec 18 (2) (f) of SICA without the requirement of following the provisions of section 100-103 of the Companies Act, 1956 .
Plant Location
A-912, RIICO Industrial Area,
Phase III, Bhiwadi
District Alwar, Rajasthan - 301019
Address for Correspondence:
Pitambar Coated Papers Limited AG-23, Shalimar Bagh,
New Delhi-110008
Compliance Officer
Mr. Subhash Gupta
Managing Director
Ph: 011-27482648/49
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.