MOHIT PAPER MILLS Share price

Mohit Paper Mills Ltd. (MPML) having its registered officeat Gandhi Market Bijnor (U.P.) was incorporated on 30thJune 1992 as a public limited company under companies Act1956 and got the certificate of commencement of business on30th September 1992.The Company has been promoted by Bijnor Steel & Alloys Pvt.Ltd. and S.K. Jain family namely Shri Sandeep Jain KuldeepJain Navneet Jain (Late) Manorama Jain Anju Jain andAnjali Jain of Bijnor to manufacture various grades ofwriting and printing paper with an installed capacity of 35TPD of low GSM (40-45) Cream-Wove base paper for coatingand maplitho etc. at 9 km stone Nagina Road Bijnor (U.P.)The company is in the process of implementation of theproject as per the schedule for production of variousgrades of writing and printing papers based on bagasse andagro wastes which are abundantly available in the vicinityof the manufacturing unit.The Company ha entered into a technical agreement forimplementation of the project with Adya ConsultantsCalcutta who have experience of over 20 years inimplementation of project for Paper Mills and are enlistedin the "Directory of Industrial Consultants" beingmaintained by IDBI. The company has completed the land andsite development and has placed firm orders for the papermachine with Mechno Paper machines Ltd. one of the bestmanufacturer of machinery for paper mills. The company hasalso entered into a Memorandum of Understanding with OmniEstablishment Dubai UAE for export of its product to theextent of approx 25% of its annual production against areciprocal arrangement for procurements of its entirerequirement of superior quality waste paper. Further thecompany has entered into memorandum of Understanding withPaper Trading corporation U.P. for marketing of approx.35% of annual production and thus the Company has tied upfor total marketing of approx. 60% of its annualproduction.The company has earned interest income of Rs. 0.95 lacs in1992-93 Rs. 3.92 lacs in 1993-94 and Rs. 2.43 lacs for theperiod from 01.04.1994 to 31.08.1994. Further the companyhas purchased a truck for the construction activity.During the idle period the company has leased the truck onwhich it had earned lease rent of Rs. 0.17 lacs in 1993-94and Rs. 1.04 lacs from 01.04.1994 to 31.08.1994. This hasresulted in total internal accrual of Rs. 7.47 lacs upto31.08.1994.