You are here » Home » Companies » Company Overview » Mangalam Timber Products Ltd

Mangalam Timber Products Ltd.

BSE: 516007 Sector: Others
NSE: MANGTIMBER ISIN Code: INE805B01012
BSE 00:00 | 18 Dec 19.95 0
(0.00%)
OPEN

19.70

HIGH

20.30

LOW

19.70

NSE 00:00 | 18 Dec 20.15 -0.10
(-0.49%)
OPEN

20.65

HIGH

20.65

LOW

20.00

OPEN 19.70
PREVIOUS CLOSE 19.95
VOLUME 853
52-Week high 52.25
52-Week low 14.10
P/E
Mkt Cap.(Rs cr) 37
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 19.70
CLOSE 19.95
VOLUME 853
52-Week high 52.25
52-Week low 14.10
P/E
Mkt Cap.(Rs cr) 37
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mangalam Timber Products Ltd. (MANGTIMBER) - Company History

A Birla group company in a joint venture with the Government of Orissa, Mangalam Timber Products (MTPL), is the pioneer in the manufacture of medium density fibre boards. It went public in Apr.'86. It introduced the technology for the first time in the country under technical collaboration with G Siempelkamp, Germany in 1987. Its brand name is Duratuff MDF, and the product is manufactured using plantation timber / waste wood / agro waste. The product is suitable for furniture, doors, door frames, panelling, partitioning, cupboards, ceilings, etc. The company has assumed a leadership role in the industry by promoting social forestry projects and industrial plantations to meet its requirements of raw materials. More than five mln trees have been planted in non-cultivated barren lands, thereby providing employment and earning opportunity to poor tribals in the backward areas of Orissa. Since its inception, the company found its proceedings tough due to various reasons, primary amongst them being : acceptance of the new product by the market and availability of raw materials, ie, wood fibres which is derived from trees like eucalyptus. In 1993-94, the company turned in a profit. In 1994-95, MTPL exported products worth Rs 7.08 cr to various countries including the UK. It has the ISI certification for its products. Adverse market conditions and non-availability of wood and timber from the Government of Orissa resulting in high cost of timber, among other factors, have resulted in losses and erosion of the company's net worth. MTPL has submitted the revivial package to IDBI, the operating agency appointed by BIFR. The rehabilitation package seeks certain reliefs and concessions, which inter-alia, included waiver of overdue interest on term loans/Non-convertible debentures and also one time settlement of major part of outstanding on account term loans to institutions. During 2000-01, the company was awarded ISO 9002 Certificate by M/s Det Norske Veritas (DNV) - Netherlands and is pleased to inform that the company is the only Medium Density Fibreboard Plant in India having ISO 9002 Certificate. The Formaldehyde plant which is mechanically complete is expected to commence its production in the current year. The trial run is being carried out.