Karur KCP to raise Rs 50 crore via GDR
Karur KCP started in 1961 by K C Palanisamy would raise Rs 50 crore via GDR. The company manufactures and supplies packing materials for Indian cement companies and also exports its products to US, Europe and SAARC countries. For Q3 of FY2011, the company reported revenue of Rs 92.56 crore as compared to Rs 77.83 crore in Q3 of FY2010. Its PAT declined from Rs 3.19 crore in Q3 of FY2010 to Rs 2.54 crore in Q3 of FY2011. Karur KCP may indirectly benefit from the future demand of the cement market. In 1996, the company started manufacturing a special packaging paper called extensible sack kraft paper (ESKP) with an international technology called CLUPAC. The unit has surpassed the CLUPAC standards in quality. In 1986, the company started manufacturing stitched paper bags and with imported 'Bottomer Machine' from Japan. The company has six latest tuber machines and four bottomer machines for producing fine quality paper bags with minimum manpower.