Agio Paper & Industries Limited
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BSE Code:
516020
NSE Code:
AGIOPAPER
Business Profile
Business Profile
Orion Paper & Industries (ORION), incorporated on Sep. 20, 1984, produces writing, printing and industrial paper for packaging. Earlier known as Kanoi Paper & Industries, it got its present name with effect from Nov. 08, 2007. The company has been promoted by Murari Lal Jalan and Arrow Syntex, a registered a non-banking financial private limited company.
Located in the Bilaspur district of Madhya Pradesh, the manufacturing unit is an agro-residue and waste paper based paper mill with a capacity of 12,000 MTPA. It uses non-conventional raw materials like rice straw and jute waste. The company also manufactures high value-added items like superior grade printing and writing paper, MG poster and computer stationery. In response to the market demand, it diversified into the field of manufacturing varieties like color paper, line-o-matic and azure laid paper. A co-generation 4 MW power plant has been set up at the mill site.
The registered office is at Commerce House, 5th Floor, RoomNo 11A 2A, Ganeshchandra Av, Kolkata-700013.
Financials
Orion Paper & Industries registered a steep drop of 82.29% in net profits of Rs 3.41 million for the quarter ended June 2008 from a profit of Rs 19.25 million for the quarter ended June 2007.
Net sales declined 1.99% to Rs 96.8 million for the quarter ended June 2008 from Rs 98.77 million for the quarter ended June 2007.
Total income dipped 3.63% to Rs 99.31 million from Rs 103.05 million for the quarter ended June 2007.
The earnings per share (EPS) of the company stood at Rs 0.56 for the quarter ended June 2008.
Recent Developments
09-APR-08
Orion Paper & Industries has been de-registered from BIFR vide its order dated Apr. 08, 2008 and will no longer be termed as ``Sick Company.``
Future Plans
The company is in the process of installing another paper machine with a capacity of 18,000 MTPA to enhance the existing actual capacity from 12,000 MT to 30,000 MTPA. The machine is also suitable for production of newsprint along with existing writing and printing paper. It is expected to commence operations by June 2009.