SHREE AJIT PULP AND PAPER LIMITED (“Shree Ajit”) was incorporated as a Private Limited Company on 23/03/1995 and converted to Public Limited Company on 13/11/1995. The Company came out with the Public Issue of Equity Shares worth Rs. 315/- Lacs in the month of October 1996 and at present is listed on Bombay Stock Exchange.
We started our journey of manufacturing quality kraft paper in 1997 with production capacity of 16,500 tonne per annum. Due to our consistent efforts, continuous innovation, technological advancements, consistent quality products and huge base of satisfied customers, we have increased production capacity to 1,08,000 tonne per annum.
We are one of the top Kraft Paper manufacturer in India. We manufacture Premium Grade Kraft Paper – Testliner (single wire) & Multilayer Testliner (triple wire) with GSM range of 80 – 300 & BF range of 20 – 35. Our all products are 100% recycled. We customize our products as per customer’s requirements as customer satisfaction is our ultimate goal. Our quality kraft paper is used by various top MNCs in India & globally to package their valuable goods.
The location of our Paper Mill is strategically selected considering higher local demand of Kraft Paper as well as closer proximity of Port for ease of export.
Higher capacity utilization by the company has lead it on its growth track.Cost reduction and cost control techniques resulted in improved bottom lines of the company. Now, modernization of the existing production facility and additions to the production capacity are projected as the next path of success.
As a responsible organization, we always care for the environment and we strive to continuously reduce carbon footprint. We believe in ‘Reduce’, ‘Reuse’ & ‘Recycle’. “Shree Ajit” is FSCTM (Forest Stewardship Council) certified organization and provide FSCTM certified Kraft Paper as per customer’s requirements.
Infrastructure
We have state-of-the-art manufacturing facility consists of latest technology and innovative equipments.
We have two Paper Machines. PM-1 is Triple Wire (MF) machine with a finished deckle of 2740 mm and PM-2 is Single Wire (MG) machine with a finished deckle of 2700 mm.
The total production capacity is 1,08,000 tonne per annum.
We have reinvested millions of dollars in the infrastructure of our manufacturing facility to continuously upgrade our technology and meet the global standards.
We use Equipment such as:
VISION
Our vision and commitment to excellence is the driving force that seamlessly powers our success. Ever since our inception, we have been charting our way through great distances and amassing vast experiences and wisdom. We have ridden the waves of change, braved challenging headwinds, achieving improvement and success on our journey. Standing proud at the horizon of tomorrow. We embrace the challenges and opportunities to come, knowing that our team will deliver a brighter future for our customers and shareholders. With core values that make us responsible Corporate Citizens. We are committed to doing business the Right Way, while making a sustainable, measurable difference to the world in which we work and live.
MISSION
Striving for Excellence is our core value which leads to Innovation. This innovation helps us to achieve our ultimate goal of “QUALITY rather than QUANTITY”. It is our mission to enhance the efficiency above global standards and evolve strong professional work ethics to ensure consistency in quality and service to our customers.
VALUES
Our Values are SACRED to us.
Safety is a core value over which no business objective can have a higher priority.
Speed, Responsiveness and being Proactive, achieved through Collaboration and Empowering employees.
Care for Stakeholders - our Environment, Customers and Shareholders – both existing and potential, our Community and our People (our employees and partners)
Treat all stakeholders with respect and dignity.
Achieve the most admired standards of Ethics, through Integrity and mutual Trust.
Do everything (set direction, deploy actions, analyse, review, plan and mitigate risks etc) with a thoroughness that delivers quality and Excellence – in all areas, and especially in Operations, Execution and Growth.
MESSAGE FROM THE CHAIRMAN’S DESK
“The best way to predict the future is to create it.” – Peter Drucker
Greetings, Fellow Shareholders,
It's always a pleasure to share my views and present the 28th Annual Report of your Company with our valued stakeholders. We remain committed to delivering value to our stakeholders and enhancing shareholder value. Thank you for being a part of our journey.
PERFORMANCE IN THE FINANCIAL YEAR 2022-23:
Financial Highlights
With great pride and joy, I am delighted to inform you all that despite a challenging environment and the uncertain global economy, your Company has demonstrated great resilience and recorded an appreciable financial performance. Your Company has recorded a Turnover of Rs. 371.89/- Crores while the Net Profit stood at Rs. 11.28 Crores during the Financial Year 2022-23. I am glad to announce that the Board of Directors has recommended a dividend of 10% to Equity Shareholders. This decision is a testament to the Company's commitment in creating value for its shareholders.
Plant Highlights
Company's efforts towards increasing production capacity and remaining competitive in the market are coming to fruition. The acquisition of Unit-II from NR Agrawal Industries, located at Plot No. 1 and 1/B, Phase I, GIDC, Vapi, Gujarat, is now complete, and we are in the final stages of testing necessary equipment.
I am also proud to report that our Company has maintained a safe and productive work environment, with no man-hours lost due to any industrial disturbance in the past financial year.
Corporate Governance
Your Company believes that good Corporate Governance is essential for building trust and maintaining transparency with our stakeholders. As such, we are dedicated to upholding the highest standards of Corporate Governance and are fully committed to complying with the regulations set by the Securities and Exchange Board of India (SEBI).
Corporate Social Responsibility
Being a socially responsible corporate is not just a moral obligation, but also a key driver of sustainable business growth. We are committed to making a positive impact on society and have supported several social initiatives that are aimed at promoting healthcare activities and infrastructure, promoting education, and reducing inequalities faced by socially and economically backward groups. During the Financial Year 2022-23, we have spent a total of Rs. 62.81 Lakhs as part of CSR activities.
Future Outlook
The market in India is majorly driven by the increasing demand for sustainable packaging solutions. In line with this, the rising awareness of the environmental impact of traditional packaging materials, such as plastic, is significantly contributing to the market growth. Besides, the versatility of Kraft paper for a range of packaging and non-packaging applications is bolstering the market expansion.
Acknowledgment
As we look ahead to the next financial year, we remain committed to delivering exceptional value to our stakeholders and driving sustainable growth for our company. In conclusion, I would like to express my sincere gratitude and appreciation to the distinguished Board Members for their unwavering support and guidance and our hardworking employees for their commitment and determination to carry out our activities successfully. I would also like to extend my heartfelt thanks to our valued customers, suppliers, vendors, consultants, and investors for their trust and cooperation, which have been instrumental in our success.
I hope that the next financial year will be a successful one and expect this company to grow further with the trust and support of our esteemed shareholders. On behalf of the Board of Directors and management of Shree Ajit Pulp and Paper Limited, we wish everyone a successful future ahead.
Thank you very much!
With Best Compliments.
Gautam D. Shah
Chairman & Managing Director
DIN: 00397319
Mr. Gautam D. Shah
Chairman and Managing Director
Mrs. Bela G. Shah
Whole-time Director and Chief Financial Officer
Mr. Surekh Ramchandra Desai
Independent Director
Mrs. Reema Kalani
Independent Director
Mr. Goutam Majumder
Executive Director (Technical)
Mr. Yogesh Valjibhai Kabaria
Independent Director
| NAME OF DIRECTOR | POSITION ON COMMITTEE | NATURE OF DIRECTORSHIP |
|---|---|---|
| Mr. Surekh Rameshchandra Desai | Chairperson | Independent Director |
| Mr. Yogesh V. Kabaria | Member | Independent Director |
| Mrs. Reema Kalani | Member | Independent Director |
| Mr. Gautam D. Shah | Member | Chairman and Managing Director |
| NAME OF DIRECTOR | POSITION ON COMMITTEE | NATURE OF DIRECTORSHIP |
|---|---|---|
| Mr. Surekh Rameshchandra Desai | Chairperson | Independent Director |
| Mr. Yogesh V. Kabaria | Member | Independent Director |
| Mrs. Reema Kalani | Member | Independent Director |
| NAME OF DIRECTOR | POSITION ON COMMITTEE | NATURE OF DIRECTORSHIP |
|---|---|---|
| Mr. Yogesh V. Kabaria | Chairperson | Independent Director |
| Mr. Gautam D. Shah | Member | Chairman and Managing Director |
| Mr. Surekh Rameshchandra Desai | Member | Independent Director |
| NAME OF DIRECTOR | POSITION ON COMMITTEE | NATURE OF DIRECTORSHIP |
|---|---|---|
| Mr. Gautam D. Shah | Chairperson | Chairman and Managing Director |
| Mr. Yogesh V. Kabaria | Member | Independent Director |
| Mr. Surekh Rameshchandra Desai | Member | Independent Director |
| NAME OF DIRECTOR | POSITION ON COMMITTEE | NATURE OF DIRECTORSHIP |
|---|---|---|
| Mr. Gautam D. Shah | Chairperson | Chairman and Managing Director |
| Mrs. Bela G. Shah | Member | Whole-Time Director & CFO |
| Mr. Surekh Rameshchandra Desai | Member | Independent Director |
For a long time our products have offered a credibility to the organisation name. We ride with the aim of catering the finest quality products to our clients. Our cumulative stock of skills, knowledge and creative equity helps our company to gain great expertise in our field. Moreover, we have also adopted a constant approach towards delivering quality products to the clients.
Shree Ajit is supported by highly advanced machinery and a team of well experienced and competent team members. They have been toiling hard to provide the company a highly prominent name in the market; thereby further building a reputation for the organisation.
Our Team
Our team of professionals hold in-depth knowledge and immense industry experience which helps to deliver our wide range of products effectively and efficiently. They are committed towards their assigned task and work dedicatedly to bring the organisation to the pinnacle of success. Some of the professionals are listed below:
Quality Assurance
Our quality experts endeavor to offer a perfect range of paper products to the clients. The paper products are made using high quality raw material and tested to ensure that these are in compliance with the standards. In the entire manufacturing process, quality parameters are strictly checked and supervised by experienced workforce. Various testing of Product are conducted to maintain the highest standard of quality.
Such tests include:
Code of conduct for directors and members of Senior Management.
Preface
The code of conduct shall apply to the directors and members of the senior management of Shree Ajit Pulp and Paper Limited (referred as the Company)
For this code, members of the senior management (hereinafter referred to as Senior managers) shall mean the persons, who are members of the core management team, but shall exclude the whole-time directors.
Directors and senior managers shall observe the highest standards of ethical conduct and integrity and shall work with ability and judgment. Directors and senior managers shall be governed by the rules and regulations of the Company applicable to them from time to time.
Directors and senior managers shall affirm compliance with this code on an annual basis at the end of each Financial Year.
Code of Conduct
Directors and senior managers will annually sign a confirmation that they have read and will comply with this code.
