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Kitply Industries Ltd.

BSE: 502595 Sector: Others
BSE 05:30 | 01 Jan Kitply Industries Ltd
NSE 05:30 | 01 Jan Kitply Industries Ltd

Kitply Industries Ltd. (KITPLYIND) - Company History

Promoted by S P Goenka Kitply Industries (formerly Sudershan Plywood Industries) went public in Aug.'85. It manufactures plywood and particle boards and markets them under the Kitply and Swastik brands. The company is well known for introducing new varieties of plywood periodically. In 1989 Sudershan Plywood industries changed its name to Kitply Industries.In Sep.'92 it came out with a rights issue at a premium of Rs 20 to finance expansion diversification and modernisation programmes at its various units (six all over Assam Maharashtra UP and Andaman). Kitply Industries modernised its plywood units to enable it to manufacture value-added products. As a diversification venture it merged Global Sugar with itself. It also set up a sugar unit from the proceeds of the public issue in Feb.'95. The company through diversification programmes added to its product range including flush door fireguard -- a fire resistant plywood -- plastic-coated shuttering plywood marine plywood veneered particle boards velort plywood etc. In 1995-96 the company has started production of sugar at Rupapur Dist. Hardoi UP in Jan'96. The company has introduced slicing process which has significantly increased the face yield of raw materials.