Kitply Industries Ltd Company Summary

Kitply Industries Ltd Summary

Promoted by S P Goenka, Kitply Industries (formerly Sudershan Plywood Industries) went public in Aug.85. It manufactures plywood and particle boards and markets them under the Kitply and Swastik brands. The company is well known for introducing new varieties of plywood periodically. In 1989, Sudershan Plywood industries changed its name to Kitply Industries.In Sep.92, it came out with a rights issue at a premium of Rs 20 to finance expansion, diversification and modernisation programmes at its various units (six all over Assam, Maharashtra, UP and Andaman). Kitply Industries modernised its plywood units to enable it to manufacture value-added products. As a diversification venture, it merged Global Sugar with itself. It also set up a sugar unit from the proceeds of the public issue in Feb.95. The company, through diversification programmes, added to its product range including flush door, fireguard -- a fire resistant plywood -- plastic-coated shuttering plywood, marine plywood, veneered particle boards, velort plywood, etc. In 1995-96, the company has started production of sugar at Rupapur, Dist. Hardoi, UP in Jan96. The company has introduced slicing process which has significantly increased the face yield of raw materials.