Seasoned investor Anil Kumar Goel and his better half Seema Goel stayed put on South India Paper Mills, at least till March 24, latest shareholding pattern suggested.
The duo held 11.35 per cent in the company as on March 24, the same as December 31, 2021, data revealed. March would, in fact, be the fifth quarter when the Goels stayed put on the stock.
As per the latest filing, Anil Kumar Goel held 10,00,000 shares or 6.67 per cent stake in the company while Seema Goel owned 7,02,000 shares or 4.68 per cent stake in the Karnataka-based company. This is even as the stock has lost 35 per cent of its value in the last one year.
Overall, the 11.35 per cent stake that the duo held in the company was valued at Rs 20 crore, as on Monday. The paper company commanded a market capitalisation of Rs 177 crore.
South India Paper Mills is engaged in the manufacture of paper and paper products. It is also engaged in the generation of power. Its products include Kraft liners, Test liners, MG Kraft Paper, MF printing and writing & newsprint.
The company’s paper plant is located 150 km from Bangalore near Nanjangud in Karnataka. As per the company’s website, the current capacity of the plant is about 200 mt per day.
The manufacturing process is based on the recycling of scrap paper both imported and domestic, and also on purchased pulp. Paper is manufactured on three paper machines of capacity. The company’s plant is fully supported by a 7.5 mw biomass based Cogeneration Power Plant. About 1.5 to 2.0 MW of excess electricity is exported to the state grid.
The plant is well connected to the major industrial areas in the southern peninsula by NH 212 (to be 4 laned shortly) and the Bangalore- Mysore 4 lane State Highway.
The scrip settled 3.55 per cent higher at Rs 118 on Monday.
Meanwhile, Anil Kumar Goel also owned 1.59 per cent stake in Star Paper Mills as on December 31. This company will announce its March quarter shareholding pattern shortly.
The company on March 23 received shareholder approval to allot 37,50,000 equity shares to three non-promoters at Rs 121 a piece on a preferential basis. It received the in principle approval for the same on BSE on March 28.
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