J K Paper Ltd (formerly Central Pulp Mills) a member of HS Singhania Group is originally promoted by Parkhe Group of Pune to manufacture Paper and Paper products. The Company is India's largest producer of branded papers and a leading player in Coated Papers and High-end Packaging Boards. It has two integrated Pulp and Paper Plants at Strategic Locations Unit JKPM in East (Rayagada Odisha) and Unit CPM in West (Songadh Gujarat).The company which fell sick and referred to BIFR was taken over by JK Corp Ltd a member of the HS Singhania Group in 1992. JK Corp. holds 44.76% in the equity of this company as on Nov 6 2003.The company has turnaround in a short period of time with the rehabilitation package by HS Singhania Group companies JK Corp Ltd and JK Industries. JK Paper today has an combined installed capacity of 150000 tpa with two integrated Paper Mills at JK Paper Mills Orissa (Inst. Cap 100000 tpa) and Central Pulp Mills Gujarat(Inst. Cap 50000 tpa). The company's paper mills are operating with a health average capacity utilisation of 115%. Further the company has purchased a Pulp Drying Plant from Finland in 2001 to increase the output and realization of market pulp. The plant was commissioned during the year itself. J K Paper has also been consistently exporting its products to markets such as Sri Lanka Bangladesh and several West Asian Countries. The company is the first paper mill in India to have been accredited with ISO 14001.The company enjoys the locational advantage in respect of sourcing raw material. It sources all its bamboo requirements with in the 200 kms radius of the plant. Further for long term continuous source of raw material the company is running social forestry and farm forestry programmes in 11 districts of Orissa and 3 districts of Andhra Pradesh covering a total area of over 20000 Ha. In 2001-02 it has distributed 27 million saplings covering over 5200 hectares under plantations in Orissa AP and Gujarat.J K Paper has been a pioneer in every field related to the manufacture and marketing of paper. It has the distinction of being the Largest manufacturer of branded copier paper in India.; First to introduce surface sized maplitho in India.; First to introduce high quality bond paper 'Finesse' in A4 size consumer friendly retail packs of 100 sheets. First to introduce laser paper in India. The company has introduced two new value added products i.e. MICR Cheque Paper and Cup-stock Board and both of them have well recieved in the market.The company which is well known for its success in creating brand in paper industry with having top two paper brand (i.e JK Copier[contributing 140 cr. to co's turnover in FY02-03] & JK Easy Copier) in its basket the company has initiated outsourcing of paper products in India. This outsourcing activity was kick started in the end of 2001-02 and gathered momentum last year. The company has outsources JK Cote (positioned in upper art paper segment) from an international producer who produces as per the specification of JK Paper. The company outsouces domestically JK Eco Cote (caters to price conscious Chrome paper segment) and 'JK Eco Print'. The Scheme of Compromise and/or Arrangement between JK Corp Limited and The Central Pulp Mills Limited was approved and sanctioned by the High Court of Orissa and High Court of Gujarat and become effective on 5th November 2001. Subsequent to this the name of the company was changed to JK Paper Ltd from The Central Pulp Mills Ltd.Latest Development: JK Paper is planning to upgrade over half of its paper manufacturing capacity to manufacture coated paper. The upgradation (Conversion from non-coated to coated) to cost around Rs.60 crs.During the year 2016 the Company had issued 11910000 Equity Shares of Rs.10/- each at a price of Rs.42/- (including premium of Rs.32/-) aggregating to Rs.50 Crore on preferential basis to the Promoter and constituents of the Promoter Group. Consequently the paid-up Equity Share Capital of the Company increased to Rs.148.53 Crore from Rs.136.62 Crore. The proceeds of the said issue have been used towards augmenting the Net Worth of the Company.During the year under review the Company had issued 7428240 Equity Shares of Rs. 10/- each at a conversion price of Rs.56.37 per Equity Share consequent upon the conversion of the Foreign Currency Convertible Bonds (FCCBs) (Series 2) to the holders of such FCCBs. The Company had also converted its FCCBs (Series 3) into 7428240 Equity Shares of Rs. 10/- each at a similar conversion price during the financial year 2017-18 and consequently the paid-up Equity Share Capital of the Company stands increased to Rs. 163.39 Crore on the date of signing of this Report.During the year 2018 Euro 17.1 million FCCBs were converted resulting in increase in paid up Equity Capital of the Company from Rs 155.96 crore to Rs 175.50 crore. Since then all the remaining FCCBs (Euro 2.4 million) have been converted enhancing the Equity Share Capital to Rs.178.24 crore.