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Prestige HM-Polycontainers Ltd.

BSE: 507707 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Prestige HM-Polycontainers Ltd
NSE 05:30 | 01 Jan Prestige HM-Polycontainers Ltd

Prestige HM-Polycontainers Ltd. (PRESTIGEHMPOLY) - Company History

Incorporated as a private limited company in 1983, Prestige HM-Polycontainers became a public limited company in 1985. The company manufacturing L-ring HM-HDPE specialised containers for packaging extremely hazardous chemicals in technical collaboration with Mauser Werke, Germany, started commercial production in 1987. The collaborator, however, cancelled the agreement in 1991-92 due to non-fulfilment of contractual commitments by the company. The barrels are manufactured from 100 per cent imported resin. In 1990, the company's installed capacity was increased by 150%. It has two manufacturing units, at Patalganga and Talasari. The Patalganga unit remained closed since November'96. The company's client list includes Asian Paints, Colour Chem, Vanavil Dyes, ICI, Vam Organics, Gujarat Alkalies & Chemicals, DCW, etc. During the year 1998-99, the Company had submitted a rehabilitation proposal to IDBI, the Operating Agency appointed by BIFR. During the year 2000-01,company's Talasari Plant remained operational at considerably reduced capacity since company has been working without any banking limit. The company has improved its performance during the year 2000-01,as far as turnover is concerned.The company has achieved a turnover of Rs.10.23 crores as against Rs.8.20 crores in the previous year. The company is approaching BIFR for de-registration since company's Networth has become positive.