1961 - The Company was incorporated on 20th November, at Mumbai. The
Company carries out the manufacture of pulp and paper and
processing of synthetic fabrics.
1963 - Allotted 450 shares to directors and 12,050 shares to friends of
directors. 12,500 shares offered at par to the public in March
1962. Only shares offered at par to the public in March 1962.
Only 7,500 shares subscribed for.
1971 - With effect from 17th May, the name of the company was changed
from Papchoni Corporation Ltd., to Balakrishna Paper Mills Ltd.
It was again changed to the present one on 29th October, 1987.
1978 - 50 tonnes per day paper machine was installed in October, which
enhanced the installed capacity of the paper plant to 7,200 per
1979 - 10,000 Shares issued at par as Rights in prop. 1:2.
1984 - 30,000 Rights equity shares issued in 1982-83 (Prem. Rs 100 per
share; prop. 1:1).
1985 - 60,000 Bonus equity shares issued in prop. 1:1 and allotted on
1986 - The Company privately placed with UTI 1,50,000-15% secured
redeemable non-convertible debentures of Rs 100 each.
1987 - The Company undertook modernisation of Synthetic Textile
Processing Division by addition of latest sophisticated machines.
- The Company undertook to set up a plant with an installed
capacity of 18 lakhs automobile tyres at Waluj, Aurangabad
district, a notified backward area.
- During October/December, the Company offered at par 96,000-14%
secured redeemable convertible debentures (Series-IV) of Rs 170
each in the proportion 2 convertible debentures to every 25 No.
of equity shares held and 2,88,000-14% secured redeemable
non-convertible debentures (Series-V) of Rs 100 each in prop. 6
non-convertible debentures to every 25 No. of equity shares held,
to the then existing shareholders.
- Out of the convertible debentures, only 76,847 debentures were
taken up by shareholders and their nominees. The balance 17,593
debentures were allotted privately. Out of the non-convertible
debentures, only 1,301 debentures were taken up by shareholders
and their nominees. The balance 2,86,699 debentures were
allotted to UTI under a stand-by arrangement.
- In addition, 4,800 convertible debentures of Rs 170 each and
14,400 non-convertible debentures of Rs 100 each were offered to
the employees (including Indian working directors)/workers of the
Company. All the non-convertible debentures and only 1,560
convertible debentures were taken up.
- As per the terms of offer, the convertible portion of Rs 70 of
each debenture (Part-B) was to be compulsorily and automatically
converted into one equity share of the Company at a premium of Rs
60 per share at the expiry of six months from the date of
- The non-convertible portion of Rs 100 of each debenture (Part-A)
under both cumulative and non-cumulative interest schemes shall
be redeemed in three equal instalments between 6th and 8th year
from the date of allotment of the convertible debentures.
Subsequently, 97,560 shares were issued during June/July 1988 in
conversion of debentures.
- The non-convertible debentures of Rs 100 each under both
cumulative and non-cumulative interest scheme shall be redeemed
in three equal instalments between the 6th and the 8th year from
the date of their allotment. A premium of 5% on redemption shall
be payable along with the instalment falling due on the 7th year.
1989 - The tyre division introduced various sizes of 4 wheeler tyres for
light commercial vehicles, jeep, tractor (front), railers, etc.
- Various sizes of 4 wheelers tyres for LCV, Jeep tractor front,
trailers & animal drawn vehicles etc., were introduced during the
year. However, the margins of the division were affected by
increase in costs of inputs, uneconomic sales realisation and
low capacity utilisation.
1990 - The Company undertook further modernisation cum balancing scheme
at the paper plant to increase the capacity to 26,400 TPA.
- Operations at the paper division were suspended for 10 days due
to a fire in the electrical installation. The margins of this
division continued to be affected by increase in cost of inputs.
- 12,97,560 Bonus equity shares issued in prop. 1:1.
- The paper plant was shut down for 13 days for the purpose of
replacement of ACB panel, which was burnt in a fire in September,
- The Company undertook phase-II of the expansion-cum-modernisation
-A range of Light Commercial Vehicle tires launched in the international market
- The Company issued 2,00,000-18% secured redeemable
non-Convertible debentures of Rs 200 each to UTI on private
placement basis. These debentures are to be redeemed in three
equal annual instalments from 3rd November, 1995.
1994 - Under the modernisation-cum-expansion scheme, the plant to be
installed was to have modern finishing equipment for processing
polyester viscose fabrics enabling the synthetic textile
processing division to enter premium segments.
- The Company undertook to set up a division named "Balakrishna
Poly Packs" at Murbad, a backward area in Maharashtra, for the
manufacture of 15 million woven sacks of HDPE/PP. This project
was to be financed by a rights issue of non-convertible
debentures not exceeding Rs 240 lakhs, internal accruals and
loans from financial institutions.
- The Company allotted 25,95,120 Bonus Shares in the ratio of 1:1
to the existing shareholders. Pursuant to the resolution the
Company allotted 10 lakh shares to Unit Trust of India at a
premium of Rs 200 per share on private placement basis.
-The Company undertook to implement a further
modernisation-cum-expansion of Scheme No. V. After the
completion of the Scheme the plant capacity will increase to
48,000 tpa from 30,000 tpa and the scheme also includes the
setting up of a captive power plant of 3.3 Megawatt capacity.
-Identified a niche segment for International Market, commenced production of Off Highway Segment
-Commenced exports to Europe & North American markets with Agricultural Range of tires. Based on initial success in the International markets ,a massive production expansion program was undertaken
-More than 500 SKUs developed in Agricultural application segment since 1996
-Started production of Flotation & MPT tires and further expanded the production capacities and capabilities.
-Second Manufacturing unit was established at Bhiwadi in Northern part of India, thereby doubling the production capacity. Awarded with prestigious ISO 9001:2000 certificate for Quality Management System by KPMG, Netherlands.
-Launch of Earthmover tires, All Terrain Vehicle (ATVs), Lawn & Garden tires
-First company from India to introduce Radial Agricultural tires sub branded as AGRIMAX
-The Comopany enters into Outsourcing Agreement with Trelleborg Wheel Systems.
-Balkrishna Industries has given the Bonus in the Ratio of 1:2
-In house mould shop established
-The Company has recommended a Final Dividend of Rs 3/- (30%) per Equity Shares of Rs 10/-
-Third Manufacturing unit commissioned at Chopanki in Northern India
-The Company Opened European office at Milan , Italy
-The Company Launched Floatation Radial tires
-The Company Introduced 65 series and 90 Series AGRIMAX range of tires.
-The Company Introduced Port application tires & Row crop tires.
-The Company became first company from India to offer All Steel radial OTR tires. Sub branded as EARTHMAX.
-The Company has recommended payment of Final Dividend of Rs 6 per share (60%).
-The Company Launched Radial MPT Range of tires sub branded as MULTIMAX.
-The Company Introduced Forestry range of tires
-The Company has recommended payment of Dividend of Rs 6.00/- per Equity Share
-The Company has appointed Shri. L V Merchant, as an Additional Director (Independent Director) of the Company.
-The Company Introduced Radial Harvester tires sub branded as AGRIMAX TERIS
-The Company introduced Radial extra large tires sub branded as AGRI MAX FORTIS
-The Company Introduced Steel belted Forestry tires sub branded as FORSTECH also introduced steel belted ROADMAX range of tires.
-Company has splits its Face value of Shares from Rs 10 to Rs 2
-Work Commenced at 4th Plant; a Greenfield project.
-The Company has repaid 4.5% Foreign Currency Convertible Bonds (FCCB) (''Series B'') of USD 22 million.
-The Board has recommended payment of Dividend of Rs. 1.40/- per Share (70%) on the Equity Shares of Rs. 2/- each.
-The Board has approved the re-appointment of Shri Arvind M Poddar, Vice Chairman and Managing Director of the Company.
-The Board has approved the appointment of Shri Vipul Shah, as an Additional Director and Whole Time Director of the Company.
-The Board has recommended payment of Dividend of Rs. 1.50/- per Share (75%) on the Equity Shares of Rs. 2/- each.
-The Board has approved the re-appointment of Shri Rajiv Poddar for a period of five years w.e.f. January 22, 2014 as a Executive Director and has been re-designated as a Joint Managing Director.
- The Board has recommended payment of Final Dividend of Rs. 2/- per Equity Share (100%) on the Equity Shares of Rs. 2/- each