YEAR EVENTS 1955 - The Company was Incorporated on 25th March, at Mumbai. The Company's object is to manufacture of paper, pulp and other raw materials. The Company manufactures printing papers, writing papers, wrapping papers etc. Bamboo is the chief raw material. - In August, the Government of Mumbai granted concessions for extraction of bamboo for a period of 30 years on a royalty of Rs.3.12 per tonne of paper or pulp going out of the factory subject to revision after 5 years and subsequently after every 10 years. 1956 - All shares issued for cash. Promoters directors and their friends took up 10,000 pref. and 50,000 No. of equity shares. The remaining 50,000 pref. and 50,000 No. of equity shares offered for public subscription through a pospectus in August 1955. 1962 - Further 420 shares were allotted out of 1960 issue between 1961 and 1962. 1963 - The Govt. of Mysore sanctioned the extraction of 20,000 tonnes of bamboo from the forests outside the company's areas at a royalty of Rs.7.50 per tonne. - The Company made a beginning towards self plantation of 10,000 acres with bamboo of a special variety and other fast growing trees like eucalyptus, hybrids and paper mulbery. 1964 - The total land under plantation since the scheme was taken up increased to 36,564 acres, comprising 5,316 acres for woods and 31,248 acres for bamboo. 1966 - A further 27,155 acres were brought under plantation between 1966-67 and 1969-70. - In order to augment the working capital resources the company sold some of its old equipments to various leasing companies for Rs.200.92 lakhs under "Sale and Lease Back" scheme. 1967 - In January 1967, 50,000 Bonus equity shares issued in the prop. 1:3. 1969 - In February, 1970, 40,000 bonus equity shares issued in the prop. 1:5. 1972 - 60,000 right equity shares issued at a prem. of Rs.35 per share in prop. 1:4. 1973 - The company was allotted 37.657 acres of bamboo forests to replace the areas lost to the company due to Kali River project and clear felling for new teak plantation undertaken by the forest department of the state. The agreement with the State Govt. of Karnataka for extraction of bamboo in the leased areas was due to expire in 1989 and necessary steps were being taken to renew the lease. - 60,000 bonus equity shares issued in the prop. 1:5. 1975 - 40,000 No. of equity shares issued at a prem. of Rs.35 per share to the financial institutions (IFCI, LIC and IDBI) on conversion of loans. 1979 - 10,000 No. of equity shares issued at a prem. of Rs.35 per share to UTI during 1976-77 on conversion of part of the debentures issued to them. 1984 - The company cancelled the 90,000-6% preference shares of Rs.100 each. The holders of these preference shares were allotted 12% secured non-convertible redeemable debentures of Rs.100 each in the prop. 1:1 with effect from 30th September. These debentures are redeemable at the end of 12th year from 1st October, with an option to the company to repay in five years after 1st October, 1991. - 90,000 - 6% pref. shares cancelled and 90,000 - 12% non convertible debentures of Rs.100 each issued in lieu thereof. 1986 - Installation of the fluidised bed combustion boiler was commissioned in October. 1989 - An order was placed for new back pressure steam turbine of 5.3 MW capacity. The said turbine was expected to be commissioned by the first quarter of 1991. 1991 - Despite higher sales realisation, profits were affected due to escalation in the cost of raw material, coal, chemicals, etc. 1992 - Installation of remaining equipments like pulp mill, chemical recovery etc. under the first phase of the modernisation and renovation programme was in progress. The second phase of the said programme costing Rs.85 crores involving the installation of bagasse pulping equipments, coating plant a new paper machine and other balancing equipments would be taken up in due course. - 4,10,000 rights equity shares issued (prem. Rs.30 : prop. 1:1). Additional 61,500 shares allotted to retain oversubscription. Another 12,568 shares allotted to employees. 1994 - As a part of the on-going modernisation/expansion/diversification programme the company installed UTM pulpers on paper M/s. Nos.I and II and CD Profiler on Paper M/s. No.III, to improve the productivity. The company undertook the second phase of modernisation programme at a total capital outlay of Rs.235 crore which includes a Duplex Board machine, bleach plant, Bagasse pulping plant, falling film evaporators, power plant nor 15 MW and two paper machines for weight papers of MG and MF and superior quality duplex boards. - The Company has also applied for Letter of Intent to set up a Caustic Soda and liquid chlorine plant. - The company also proposed to set up a sugar mill and applied for an Industrial licence. - The company diversified into high-tech product area in the telecommunication field by putting up a unit at Mysore for production of optical fibre cables. The civil work of the Duplex Board mill and optical fibre cables unit was under progress. 1995 - The performance of the Company surpassed all its past records. Production and sales increased significantly mainly due to the relentless efforts made at all levels in optionally utilising the resources available. - As a part of the on-going modernisation/expansion/diversification programme the company has installed a state-of-the art plant to manufacture optical fibre cables with foreign technical collaboration, a running plant with a capacity of 9000 MT P.A. for the manufacture of chromo, Art paper and Board was installed at Gugaon (Haryana). - The Company also installed a 1050 KW wind power mill in Chennai. - The Company has received letter of intent for setting up a sugar mill of 2500 tonnes crushing capacity per day and a caustic soda and liquid chlorine plant as a step towards backward integration. 1996 - Duplex Board Machine was commissioned on 15th September. - The Company has taken the following new project as a part of its expansion-cum-modernisation programme: - (a) Bleach Plant: The 250 TPD new Bleach plant was expected to be commenced by the end of December 1997. - (b) Digester No. 10 : A new digester was planned to cope-up with the increased requirement of mill made pulp for higher level of production. Digester was expected to be commissioned by March 1998. - (c) New Power Plant: Apart from installing 5 new DG sets, the company intending to set up a new power plant by installing one 70 TPH FBC Boiler and a 12 MW capacity Double extraction partial condensing Turbo Generator set. - (d) Caustic Soda Plant: The company has received letter of intent from the Government of India to set up the above plant as a step towards backward integration project. - The Company is also planning to set up a sugar mill of 2500 tonnes cane crushing capacity per day. 2000 - The Company has taken up modernisation, expansion & diversification programme with a capital outlay of Rs 214.50 crores for increase in the production capacity and technology upgradation of paper, duplex board and cable divisions. 2002 -Appoints Shri C K Somany as the Director on the Board of the company after the resignation of Mr Madan Mohan Mohanka. -Ms Shaila Jagpat resigns from the Directorship of the company. 2003 -Stock Broker Desai acquires 5% stake in the company. -Appoints Mr S K Bangur as the Chairman and Managing Director of the company. -Acquires 33.85% equity shares of Rama Newprint and Paper Ltd at Rs.5 per share for Rs.39.38 crs from ICICI Bank Ltd and ICICI Trusteeship Services Ltd. 2006 -West Coast Paper reappoints Bangur as MD -West Coast Paper Mills Ltd has re-appointed Shri. K L Chandak as Executive Director of the Company for a further period of 4 years w.e.f. December 01, 2006. 2007 - The Company has splits its face value from Rs10/- to Rs2/-. 2009 - West Coast Paper Mills Ltd has appointed Shri Krishna Kumar Karwa as Additional Director of the Company. 2010 - West Coast Paper Mills Ltd has appointed Shri Sanjay Kothari as Additional Director of the Company. 2011 -Shri S. K. Bangur has been re-appointed as Chairman &Managing Director of the Company. 2012 - Board has recommended a Dividend of Rs. 0.20/- per share on the Equity shares of Rs. 2/- each 2013 - Board has recommended a Dividend of Re. 1/- per share on the Equity shares of Rs. 2/- each 2014 - Board has recommended a Dividend of Re. 1/- per share on the Equity shares of Rs. 2/- each 2020 -West Coast Paper Mills "partially started production at Paper and Duplex Board Division, Dandeli".