Sirpur Paper Mills gets award for the best Management from the Govt. of AP.

New Delhi May 2 2006 : The Government of Andhra Pradesh conferred the “BEST MANAGEMENT AWARD” for the year 2005-06 to the Sirpur Paper Mills Limited for the good labour management. The award was given to The Sirpur Paper Mills Limited today in a function held at Ravindra Bhavan, Hyderabad by the honorable chief minister of Andhra Pradesh Mr. Dr. Y.S. Rajasekhara Reddy. The “Best Management Award” is being given by the government of AP for their outstanding contribution in maintenance of Industrial Relations, Labour Welfare and Productivity.

On behalf of the Sirpur Paper Mills Limited the award was received by Mr. S.K. Khare, Executive Director accompanied by Mr. M.P. Dokania, President. Commenting on the receipt of the award Mr. Devashish Poddar, Chief Operating Officer of The Sirpur Paper Mills said, “This recognition is extremely encouraging for the employees as we establish global best practices in our company. This reiterates our commitment towards our employees for providing the best working atmosphere to them”.

Sirpur Paper Q3 Net Profit up 34% Revenue up 7%

New Delhi January 31,2006 Sirpur Paper Mills Limited, an integrated pulp and paper manufacturing company based at Andhra Pradesh, has reported a revenue of Rs. 61.47 crore for the quarter ended December 31,2005 representing a growth of 7% over the corresponding period last year. Net profit for the quarter grew 34% to Rs. 5.01 crore, while Earnings per share (EPS) increased to Rs. 4.56 from Rs. 4.34.

Revenue for the nine months ended December 31,2005 grew 6% to Rs. 175.87 crore. Net Profit for the same period stood at Rs. 11.04 crore.

The Board of Directors have fixed April 1, 2006 as the record date for the purpose of Call Money of Rs. 54 per share payable on 6672536 partly paid Ordinary Shares allotted on May 18,2005 on rights basis.

Mr. Devashish Poddar, Chief Operating Officer, The Sirpur Paper Mills Limited. Said, “The Rs. 294 crore Expansion-cum-Modernisation programme is proceeding as scheduled. The project is expected to be completed by end of 2006. the commissioning of 200 TPD Imported Paper Machine under the project will catapult Sirpur Paper as leading player in the fast growing copier paper segment”

Sirpur Paper Mills embarks on expansion, modernisation drive Our Bureau

Hyderabad , May 22,2005.

SIRPUR Paper Mills Ltd has embarked on a Rs 300-crore expansion-cum-modernization program to increase its annual production capacity from 83,550 tones to 1,38,300 tones.

The expansion project would be funded through a debt of Rs 165 crore, internal accruals of Rs 50 crore and an offer of Right Preferential shares to the tune of Rs 60 crore. The project is likely to be completed during 2006-2007.

According to the Chairman, Mr R.K. Poddar, the debt funds will be syndicated by Infrastructure Leasing & Financial Services Ltd.
The project report has been prepared by SPB Projects and Consultancy Ltd, which will also provide complete technical consultancy and engineering services for the development of the mills.

For fiscal year 2003-2004 Sirpur Paper had posted a turnover of Rs 249.55 crore and a net profit after tax Rs 17.92 crore. The company's board has recommended a dividend of 50 per cent for the year.
The basic and diluted earnings per share of Rs 10 each for the year stood at Rs 21.49. The company's net profit last fiscal 2002-2003 increased by 44 per cent when compared to the net profit after tax Rs 12.47 crore registered during the previous year.
Mr Poddar told newspersons that following the execution of the expansion project, the company's equity share capital would increase by about Rs 7 crore. Currently, the company has a paid-up equity of Rs 8.35 crore.

Of this, the promoters' hold was 43.3 per cent and the non-promoters' share was 56.7 per cent. Among the non-promoters, financial institutions have a share of 20 (??) percent (** As per SPM Right Issue Prospectus it is 12.66% ***), while the remaining 36.7 per cent was held by the public.

He said that the expansion-cum-modernization project envisages improvement in product quality, reduction in cost of production and curtailment of pollution. For every tonne of paper produced, it was planned to reduce water consumption by 60 cubic meters, decrease energy consumption by 400 units and bring down bleaching chemical content by 50 per cent.

After the expansion, Mr Poddar said, the company would start manufacturing photocopy paper. It would also undertake direct exports.

The Hindu, Business Line.