- Business
- Balkrishna Paper Mills Limited (BPML), founded in 1975 and headquartered in Mumbai, India, manufactures coated duplex boards from recycled pulp for packaging applications across pharmaceuticals, toiletries, cosmetics, health care products, readymade garments, instant food products, match boxes, incense sticks, and fast-moving consumer goods sectors; its product range includes Balkrishna Super Chromo Board with white back and customized packaging solutions, produced at a facility in Ambivli, Maharashtra, with a capacity of 60,000 TPA. The company, formerly known as Nirvikara Paper Mills Limited and incorporated in 2013 under CIN L21098MH2013PLC244963, operates primarily in India with a registered office at A/7, Trade World, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai. In recent developments, BPML completed a rights issue in April 2024 raising Rs 45.11 crore through 2.15 crore equity shares at Rs 21 apiece, oversubscribed 1.06 times, to fund operations and debt reduction; it also leased unused land at Ambivli for Rs 17.50 crore in FY24 to repay debts and lower interest costs, appointed Prof. (Dr.) Mangesh D. Teli as independent director and Manish O. Malpani as whole-time director and CFO effective December 2023, and held its eleventh annual general meeting on September 30, 2024, amid a net loss of Rs 71.14 crore on turnover of Rs 5.94 crore for FY24.