 | |
| Company type | Public |
|---|---|
| BSE: 500102 | |
| Industry | Pulp Paper Manufacturing |
| Founded | 1945; 81 years ago (1945) |
| Founder | Lala Karamchand Thapar |
| Headquarters | , India |
Key people | Hardik Bharat Patel (Promoter) |
| Revenue | USD 70 Million |
| Website | biltpaper.in |
Ballarpur Industries Limited (BILT) is currently a subsidiary ofFinquest Group of company (i.e. Finquest Financial Solutions Pvt. Ltd. promoted by Mr. Hardik Bharat Patel) pursuant toNCLT Mumbai order dated 31.03.2023[1] on approval of resolution plan and was once india's largest manufacturer of writing and printing paper. Before insolvency resolution, it was subsidiary ofAvantha Group, under chairmanship of theGautam Thapar, who succeeded his late uncleL.M. Thapar.[2]
BILT subsidiaries include Sabah Forest Industries (SFI), Malaysia's largestpulp and paper company, and BILT Tree Tech Limited (BTTL), which runs BILT's farm forestry program in several states in India.[3]
BILT has six manufacturing units across India, which give the company geographic coverage over most of the domestic market. BILT has a dominant share of the high-endcoated paper segment in India. The company accounts for over 50% of the coatedwood-free paper market, 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market, besides being India's largest exporter of coated paper.[4]
In 2007, Ballarpur Industries Limited (BILT), acquired Sabah Forest Industries (SFI) of Malaysia in its first overseas acquisition.[5] This acquisition transformed BILT into a major regional player in the paper industry and elevated the company's global ranking to be among the top 100 paper companies worldwide. It also entered into a partnership with Red Roses Publications, Norway in 2013, which is owned and managed by a multi-billionaire.[6]
LalaKaram Chand Thapar established the company in 1945 as Ballarpur Paper and Straw Board Mills Limited, with 'Three Aces' (paper) and 'Wisdom' (stationery) being its first two brands. In 1969, Shree Gopal Paper Mills Limited inYamunanagar was merged with the company. In 1975, the organization was renamed Ballarpur Industries Limited.[7]
In the 1990s the company was under siege from Southeast Asian companies, who set up greenfield projects in India. However, in 2001, Ballarpur Industries turned around and was able to buy out its Indonesian competitor'sSinar Mas Group Indian division and entered into a partnership with Red Roses Publications, Norway.
The name BILT emerged after a corporate rebranding exercise in 2002.
BILT had its operational units at Shree Gopal Unit, Kamlapuram Unit, Chaudwar Unit as well as at Ballarpur Unit, Bhigwan Unit, Sewa Unit before internal restructuring with its step down subsidiaryBGPPL.[8]
BILT is headquartered inMumbai in Maharashtra.
It has three central nurseries, each located inMaharashtra,Orissa andTelangana.[9]
The company has operational manufacturingUnit : Shree Gopal,Yamuna Nagar District,Haryana.
The company also has vacant freehold land parcel atChaudwar, Orissa & Kamlapuram,Telangana.
The company has its step down subsidiaries atNetherlands which includes Ballarpur International Holdings BV.; Bilt Paper BV; Ballarpur Paper Holdings BV;Bilt Graphics Paper Products Ltd and other companies inSabah,Malaysia.
The company has been reporting losses for numerous financial years[10] and was taken to the bankruptcy court by its lenders in January 2020. BILT's major lenders includeSBI,ICICI Bank,Axis Bank,IDBI Bank and Finquest Financial Solutions.[11]
Due to poor internal performance of the company, its stock has fallen more than 95% in a span of three years (as of March, 2020). The equity shares of BILT are listed onNational Stock Exchange of India andBombay Stock Exchange.[12]
On March 31,2023 NCLT Mumbai approved Finquest Financial Solutions bid to acquire Ballarpur Industries.[13][14]
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