Seshasayee Paper & Boards Share Price

Seshasayee Paper Boards Limited was incorporated on June 22, 1960 and promoted by S Viswanathan and N Gopalaratnam. The Company is engaged into manufacture and sale of printing and writing paper and has plants in two locations, one at Erode and another at Tirunelveli with an aggregate capacity to produce 255000 tonnes of paper, per annum (TPA). The company completed the first phase (cost:Rs 10 cr) of its modernisation programme in 1994, for which it came out with a rights issue at a premium of Rs 10 in Dec.93. In the same year, the company spent over Rs 6 cr on energy conservation, financed by term loans from IDBI. It has enhanced its capacity to 115000 tpa from 69000 tpa. Companys quality systems continue to be covered by the ISO 9001 accrediation awarded by Det Norske Veritas, The Netherlands. The company is repaying its term loans for which it availed for Expansion/Modernization projects,due to the Financial Institution/Banks. A multipurpose business paper SPRINT was launched during 2003 and the same was well accepted in the market.During March 2011, the Company acquired 41.67% of the Equity Capital of Subburaj Papers Limited (SPL), held by the Promoters.During the year 2013, the Company acquired 100% of the Equity of Esvi International (Engineers Exporters) Limited (Esvin) therebymaking it a wholly owned subsidiary of the Company. During the year 2014, the Company issued 13,63,628 Equity Shares to the Equity Shareholders of SPB Papers Limited, which amalgamated with the Company, pursuant to the Scheme of Amalgamation approved by the Honble High Court of Madras. In 2016, Company embarked on implementation of two Projects, viz., Mill Development Plan II at Unit : Erode and Mill Expansion Plan at Unit : Tirunelveli. The Mill Development Plan II Phase I was completed which costed Rs. 75 crores. Under PhaseI, Wood Pulp Line was upgraded to produce 1 45 000 tonnes per annum of wood pulp. Second Stage Oxygen Delignification System and a Twin Roll Barrier Press were installed in the Wood Pulp Mill. A new Electro Static Precipitator was added in Chemical Recovery Complex. In addition, a new Winder was added to Paper Machine 14. Distributed Control System in the Stock Preparation Section of Paper Machines 14 and Energy Efficient Drive System were added in Paper Machine 3. Further, major retrofit was carried out in Power Boiler to generate additional steam and power. This helped to wheel 3 MW of power from Unit : Erode to Unit : Tirunelveli. Work commenced under PhaseII at an estimated cost of Rs 50 crores to enhance paper production and upgrading Bagasse Pulping facility and Waste Water Treatment Plant. Mill Expansion Plan in Unit : Tirunelveli was undertaken which costed Rs 75 crores. Film Press and Top Wire Former were installed in the Paper Machine to help in improving the quality of paper as well as step up production. DeInking Plant recommissioned which helped to step up pulp production and reduce use of expensive imported pulp. Rebuild of Power Boiler was completed to generate additional power.After completion of the Mill Development Plan II (Phase I and II) at Unit : Erode and Mill Expansion Plan in Unit : Tirunelveli in Financial Years 201718 and 201819, the Company embarked on a Mill Development Plan III (MDP III) at Unit : Erode costing Rs. 315 crores. The execution of the Project, MDPIII, commenced effective from July 01, 2020. Company completed upgradation works on Paper Machine 1 and Paper Machine 5 in FY 202021 as part of project Mill Development Plan III (MDPIII). As part of the second phase of the project, it completed upgradation works in Paper Machine 2, Paper Machine 4, Pulp Mill and Recovery Boiler during the Financial Year 202122. Accordingly, total installed capacity of the Company currently stood at 2,55,000 tonnes per annum with the completion of the Project MDPIII.The Company acquired the assets of M/s.Servalakshmi Paper Limited in liquidation as a going concern in September, 2022. With the successful completion of project MDPIII and with the prospect of Companys paper manufacturing capacity getting expanded with the acquisition of M/s. Servalakshmi Paper Limited (Corporate Debtor under Liquidation), Company has commenced work on identifying the next round of strategic growth projects for the Company in 2023. The Project Mill Development PlanIII (MDP III), commissioned in phases, helped the Company in upgradation and modernization of the Paper Machines in Erode, to increase the Capacity from 1,32,000 tonnes per annum to 1,65,000 tonnes per annum ii) In Upgradation and Modernisation of the RDH Pulp Mill to increase the Capacity to 1,54,000 tonnes per annum iii) Upgradation of the Recovery Island and iv) Further Diversification and enhancement of Product offerings with entry in to Premium Boards segments / multilayer products costing Rs 244.3 Crores in 2023.