Andhra Paper Ltd Share Price

Summary

Andhra Paper Ltd (Formerly known as International Paper APPM Ltd), currently a L N Bangur Group Company was originally set up by a private entrepreneur and changed hands twice in the pre-independence period because of losses. Later in 1953, the company was taken over by the Indian Government. Pursuant to an agreement between the Government of Andhra Pradesh and G D Somani, an Industrialist, the Andhra Pradesh Paper Mills, as we know it today, came into existence. Andhra Paper Ltd was incorporated on June 29, 1964 as one of the first Joint-Sector Companies in India. Somani later transferred his rights and obligations to the West Coast Paper Mills Ltd of the current owner L N Bangur. Currently L. N. Bangur Group is holding around 68% of the total investment. The manufacturing facilities comprise of two mills at Rajahmundry and Kadiyam, both located in the East Godavari District, and a conversion center at SN Palem in Krishna District, all located in the State of Andhra Pradesh. The Company is one of the top ten leading integrated pulp and paper manufacturer with a total production capacity of 241,000 TPA.Production was increased to 100 tpd in 1970 and to 250 tpd in 1977.The company went through a bad patch in the mid-80s with capacity utilisation much below than installed and with accumulated losses reaching Rs 7 cr. The company launched vigorous HRD programme to stop labour unrest, modernised mill processes and equipment, and commissioned a 10.5-MW turbo-generator for its powe
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