Karnawati Innovation Share price

The company was incorporated on September 25 1986 as a Private Limited Company under the name and style of BISIL PLAST PRIVATE LIMITED. Subsequently the Company was converted into a Public Limited Company under the name and style of BISIL PLAST LIMITED vide fresh certificate of incorporation issued by the Registrar of Companies Gujarat at Ahmedabad on May 13 1992. The company was set up with the object of manufacturing PVC bottles. However during the initial years the company could not produce the bottles due to various reasons. Being located in Chhatral there was a shortage of trained and experienced personnel for running such sophisticated machinery at that time. Also during those years the access to the raw materials market was not very convenient and the production would be held up due to these reasons. Further the concept of PVC bottling was new at that time and did not have a definite market. The users and the end clients were not adequately exposed to such concept and hence the demand generated for the company''s products were not substantial. Coupled with this the delay in the disbursements of term loans only compounded the problems and the company started slipping into losses. Over the years as Chhatral started developing and with the availability of the necessary infrastructural facilities such as transportation the company began to regroup its limited resources and made efforts to revive its financial picture. The company also approached the lenders/banks with a settlement/compromise solution so that they could finally come out of the red. In the meanwhile the company was able to train and recruit the requisite personnel and most of the production related problems were ironed out. There was an increasing demand of PVC bottles as the consumers began to realise their benefits. Realising the increasing demand the company chalked out plans to increase its capacity as the existing capacity was no longer able to sustain the requirements of the users. The Company is already supplying its products to reputed edible oil manufacturers and mineral water processors.