The Mysore Paper Mills Limited, (MPM) founded by Sri.Krishnaraja Wodeyar Bahadur in 1937 the Maharaja of erstwhile Mysore State was incorporated on 20th May 1936 under the then Mysore Companies Regulation, VIII of 1917. Later it became a Government Company in 1977 under Section 617 of the Companies Act, 1956. The Company has its Registered Office at Bangalore and its plant located at Bhadravati, Shimoga District, Karnataka State. The Company has an Authorized Capital of 150 Crs. and paid up capital of about 120 Crs. The shares of the company are listed in the Bombay Stock Exchange and there are about 17,000 shareholders. While Government of Karnataka holds 65% of the shareholding of the Company, IDBI and other Financial Institutions hold 18% of the shares and shareholding by the General Public is 17%. The company is managed by eminent Board of Directors consisting of IAS, IFS and other professionals. The Chairman & Managing Director of the Company is assisted by a team of professionals in various fields who have expertise in production, finance, marketing etc., with a dedicated team force. MPM has its own township.
YEAR EVENTS1936 - The Company was incorporated at Bangalore. The Company
manufacture paper and allied products under the trade name
"BISON".
1981 - 26,64,100 Rights equity shares issued at par in prop. 1:4 which
include 20,64,100 No. of equity shares earlier issued to
non-residents of Indian Origin but were not taken up. Only
20,12,270 shares were taken up.
1982 - Out of the remaining 6,51,830 No. of Equity shares of the 1981-82
issue, 5,00,000 shares were allotted to Karnataka Govt.
1983 - By the end of March 1983, all the plant and machinery for the
expansion was fully installed. The Govt. of India and Govt. of
Karnataka, had sanctioned the modernisation scheme for
upgradation of the cultural paper mills with financial assistance
from OECF, Japan.
- The Remaining 1,51,830 shares of the 1981-82 issued allotted to
Karnataka Govt. 5,03,510 shares allotted to farmers and Karnataka
Govt. in February 1984. 278,50,000 shares allotted to Karnataka
Govt. in March 1984, part of which was on conversion of loans and
the remaining being the unsubscribed portion of the shares issued
for the sugar project. 1,92,61,966 shares allotted to financial
institutions on conversion of interest accrued and due to them
upto 31.12.1983.
1984 - With a view to integrate the sugar mill with the paper plant by
proper use of bagasse, a letter of intent was issued to
IHI/Nisho-Iwai of Japan for providing the total engineering for
bagasse handling and storage facility.
- 1,520 shares allotted to New India Assurance Co. Ltd., as on 15th
March, 1985 on conversion of interest accrued and due to them
upto 31st December, 1982.
1985 - 20,95,431 No. of equity shares issued at par.
1986 - 6,11,185 No. of Equity shares issued at par to Karnataka Govt. on
part conversion of loans.
1989 - 10,00,000 No. of equity shares issued at par to Karnataka Govt.
1990 - The overall production of cultural paper and newsprint declined
to 91,356 tonnes due to poor quality and inadequate supply of
coal and loss of production of 12 days due to industrial unrest.
- 2,50,000 shares issued at par.
1991 - The quality of paper improved with the installation of new
centricleaners with streamline the bleaching process and pulp
cleaning system. Pith fired boiler was installed.
1993 - 34,000,000 shares issued at par.
1997 - The Company undertook to set up a 10 MW bagasse based
co-generation plant.
- The Company undertook to put up a sugar plant in the premises of
its paper mill with a crushing capacity of 2,500 tonnes per day.
- The Company obtained necessary licences from GOI for expansion of
the cane crushing capacity from 2500 TCD to 5000 TCD.
- MPM has chalked out expansion-cum-modernisation plans for its
sugar factory with an initial investment of Rs.80 crore. After
the proposed expansion, the company will have a capacity of
5,000 tonne per day (TPD).
- The company produced about 50,840 tonnes of newsprint as against
91,511 tonne in the previous fiscal.
- The company will have a capacity of 5,000 tonne per day (TPD).
1998 - The MPM officers had often staged token strikes and also
protested against their demands not being met.
- ICRA has downgraded the fixed-deposit (FD) programme of Mysore
Paper Mills Ltd (MPM) from MA - to MB+. The revised rating
indicates inadequate safety.
- Mysore Paper Mills has an installed capacity of 75,000 tonnes
of newsprint per year and 30,000 tonnes of writing and printing
paper per year.
- MPM will be setting up an addition 10 mw co-generation captive
power plant close to our manufacturing unit at Shimoga in
Karnataka.
1999 - Mysore Paper Mills (MPM) has drawn up a cost-cutting and business
reengineering plan to improve productivity, push sales and beef
up its bottom line. The company had also proposed to set up a
bagasse-based cogeneration unit of 10 MW.
2010
- Sri. Sandeep Dave, IAS has taken over as the Managing Director of the Company.
2011 - Sri. Padam Kumar Garg, IPS has taken over as the Managing Director of the Company.
2012 -Sri. M. N. Vidyashankar has been appointed as a Director of the company.
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