Wim Plast Ltd Company Summary

Wim Plast Ltd Summary

Wim Plast Limited was incorporated in October, 1988. Jointly promoted by the Cello and M G Shah Groups as a Private Limited Company, Wim Plast (WPL) was converted into a Public Limited Company in Jul.93. The Company presently has 9 manufacturing units and 10 trading depots spread across PAN India. The Company is engaged in manufacturing of various plastic products such as Plastic Moulded Furniture, Extrusion Sheets, Air Coolers, Dustbin Industrial Pallets and Industrial and Engineering Moulds.WPL came out with its initial public offering in Aug.94, to part-finance the project at Daman to manufacture 2020 tpa of injection-moulded plastic furniture like chairs and tables. The cost of the project, as appraised by IDBI, was estimated at Rs 10.85 cr. The company went into commercial production from 1 Dec.94. The main products of the company are injection-moulded plastic furniture like chairs, tables, etc. The range selected by the company are the latest and contemporary European designs having distinct features like vivid colour combinations, ergonomically designed for maximum physical comfort, light-weight, 100% termite resistant, low maintenance cost, easy stackability and low cost. The product is marketed to households and institutional users. It will be marketing its products under the popular and well-established Cello brand name.The company has imported moulds from Italy at concessional customs duty under the EPCG scheme, wherein it has an export obligation. The companys products, from the initial response received from the market, are gaining increased acceptance from customers. During 1998-99, it has increased its Plastic Moulded Articles installed capacity from 7810 MT to 11489 MT. It has also acquired four additional injection moulding machines from local & seven additional moulds for chair & teapoys from international market.The Companys new unit-3 at Daman was successfully commenced in December, 1999. The Company has tied up with M/s National Plasto Products Pvt Ltd., Calcutta to manufacture Cello brand moulded furniture. The company decided to float JV Company named Cello-GQ Industries Ltd in Bangladesh and the new company will be for manufacturing and marketing the Companys plastic moulded furniture.During the year 2002-03, new depots at Pune, Balasore, Hyderabad, Gurgoan, Cochin, Chennai, Lucknow, Indore, Amritsar &. Guwhati were opened. The Company had made strategic investment Rs. 64.23 lacs in the equity shares, by incorporating a new company, Cello-GQ Industries Ltd. in Bangladesh, which commenced operations in the year, 2005.During the year 2006, Company invested approx. Rs. 30 Crore for New project at Baddi in District Solan , Himachal Pradesh.During the year 2010, there was replacement of old machines and also sizeable addition in the existing production capacities, resulting in much better input / output ratios and betterment in product quality. Capital Assets of worth Rs. 815.02 lacs were purchased during the year and the assets of Rs. 151.82 lacs were sold during the year. The Company acquired manufacturing unit of Plastic Moulded Furniture at Gummidipoondi, Tamilnadu resulting the unit to start commercial production from April, 2011. It launched number of series of premium range of products of Plastic Moulded Furniture and varieties of applications for Cello Bubbleguard Sheets in 2011. The Company established 3 new manufacturing units at Chennai, Haridwar and Daman with added capacities and range of products in 2011. During the year 2012-13 new manufacturing unit of plastic moulded furniture was set-up at Kolkata with the total Investment in Capital Assets for Rs 1120 lakhs. The Company acquired one acre Lesehold Land of at SIPCOT ,Chennai for additional manufacturing unit in 2013. In year 2014-15 the Company invested Rs 3000/- lakhs in the Fixed Assets for the business towards the expansions in Plastic Furniture, for manufacturing Moulds and the Company started manufacturing of the AIR Coolers.