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History of APR Ltd.

YEAR EVENTS 1975 - The Comp. was Incorporated on 18th March, at Hyderabad. The Comp. was promoted by Andhra Pradesh Industries Development Corporation [APIDCs] jointly with Ballarpur Industries limited [BILs] & the Hada Group. Initially the Comp. was a subsidiary of BIL & ceased to be so after the public issue of shares in October 1979.

- The Company object is to manufacture rayon grade pulp.

- The Comp. entered into an agreement with Gohel Consultants and Engineers Pvt. limited [GCEs], for providing technical & process know-how, project planning & detailed engineering services.

1979 - 160 shares subscribed for by signatories to the Memorandum of Association, 11,76,840 shares allotted to APIDC, 40,80,000 shares allotted to Ballarpur Industries limited & 2,00,000 shares taken up by G.R. Hada. 52,43,000 No. of equity shares were offered at par for public subscription during October.

1982 - 13,050 forfeited equity shares reissued.

1984 - The shareholders of Comp. & the members of Ballarpur Industries Ltd., approved a scheme of Amalgamation of Company with Ballarpur Industries Ltd., effective from 1st July. Approval of Govt. & those of High Courts at Hyderabad and Mumbai were awaited. As per the Scheme, members of Company will be allotted one share of Ballarpur Industries Ltd., for very 15 shares held in the Comp. on the merger taking effect.

1986 - No progress was made as clearance was not received for import of second-hand paper machine which constituted an integral part of scheme.

1988 - The market for rayon grade pulp remained firm due to high cost of imports coupled with restrictions.

- A relief package with a consortium of banks was finalised on the similar lines agreed with financial institutions. It was awaiting the approval of banks & RBI.

1989 - Comprehensive agreements were signed with Grasim for supply of VSF technology & engineering. Necessary arrangements were under finalisation in collaboration with Grasim for setting up of viscose staple fibre [VSFs] plant initially of 45 tonnes per day capacity.

1990 - The overall working resulted in lower profits due to hike in input & transportation costs. In addition, the Comp. had to depend upon outside power for running the plant for nearly forty days due to the breakdown of turbo generator.

- The Comp. received a letter of intent for manufacture of viscose staple fibre with a capacity of 25,000 TPA. Necessary steps were taken to implement the project.

1991 - As per the Memorandum of Understanding, the Comp. repaid the entire cash credit dues & major portion of term loans.

1992 - The Comp. embarked upon a modernisation-cum-balancing scheme to install new digester to achieve continuous average production of 140 tonnes & a turbo generator of 7.5 MW to attain self sufficiency with regard to power generation. Also, it was proposed to increase the capacity from 140 tonnes to 240 tonnes.

- The Comp. identified thrust areas viz. leather, packaging materials & sericulture for diversification with emphasis on export orientation & tax planning.

1993 - The Comp. proposed to increase the pulping capacity to 300 tonnes per day.

- The Comp. proposed to take over A and B Bilt Packaging limited pursuant to the scheme of Amalgamation & rehabilitation to take effect from April, subject to the approval of Board for Industrial & Financial Reconstruction & other necessary approvals.

- The Comp. proposed to take over A and B Bilt Packaging limited which manufacture laminated packaging systems & packaging machines.

- The Comp. proposed to enter into the leather business by acquiring two leather units, manufacturing shoes & laminated leather products. Tascana shoes limited one of group companies proposed to be merged with the Comp. which was building up orders & adding maximum value by building the whole shoe and exporting it.

- During March-April, the Comp. issued 133,75,000 Rights equity shares of Rs.10 each for cash at a prem. of Rs.25 per share in prop. 5:4 [all were taken ups].

- Another 6,68,750 No. of equity shares of Rs.10 each were offered at a prem. of Rs.25 per share to employees of Comp. & those of BILT on an equitable basis but only 28,400 shares taken up [7,150 shares by Company employees & 21,250 shares by employees of BILTs].

- In order to rehabilitate the Company, a scheme was conceived to concentrate on the manufacture of paper grade pulp & instal one or more paper machines, so that the operations of Comp. may be converted into the manufacture of paper. Application was made to Central Government accordingly.

- In the meanwhile, a proposal was being discussed with financial institutions & other grade pulp & instal one or more paper machines, so that the operations of Comp. may be converted into the manufacture of paper. Application was made to Central Govt. accordingly.

- In the meanwhile, a proposal was being discussed with financial institutions & others to amalgamate the Comp. with Ballarpur Industries Ltd.

1994 - Lower production was attributed to the disruptions in the plant operation during the first half of year due to maintenance sheets & other plant related issues.

- Scheme of Amalgamation was approved by BIFR. The Comp. proposed to merge Toscana Shoes limited with the Comp. subject to the approvals of respective High Courts of Andhra Pradesh and Delhi.

- With a view to earn substantial exports, the Comp. proposed to activate the operations of Soyabean Meal exports, a by-product of soyabean oil extraction.

- 17,87,616 shares of Rs.10 each allotted as fully paid up to the shareholders of amalgamating Comp. pursuant to scheme of amalgamation.

1996 - 10,13,333 No. of equity shares allotted to the shareholders of amalgamating Comp. pursuant to the scheme of amalgamation.

1997 - 4,85,000 Cu. Redeemable pref. shares issued. 60,00,000 No. of equity shares allotted to M/s. Chescor Pvt. Ltd., Maruitius on private placement basis.

1998 - 3,85,000 Pref. shares of Rs 100/- each redeemable during the year.

- Hyderabad APR Ltd, a Thapar group company, has entered into an MoU with Paper Products [PPLs], for sale of APR packaging business located near Hyderabad.

1999 - M/s. Hemant Luthra, N Santosh Reddy, C P Mapa, Directors of THE Comp. are retiring at the ensuing Annual General Meeting & are eligible for re-election.

- 3,00,000 Cumulative Redeemable Preference shares of Rs.100/- each fully paid up issued on 27.10.1997 shall be redeemed at the end of 18 months from 11.11.1997.

- The Comp. has undertaken an expansion cum modernisation of its pulp plant at Kamalapuram.

2000 - No Directors or ERS news.