MPL Plastics Share Price

Incorporated in 1972 as a partnership firm, MPL Plastics Limited, formerly known as Milton Plastics Limited was converted into a Public Limited Company on May 1st, 1992. The name of the Company was changed from Milton Plastics Limited to MPL Plastics Limited with effect from December 12, 2014.The Company is having manufacturing unit at Silvassa. It carries out the activity of jobwork/processing work of plastic and thermoware products. The company manufactures a range of plastic household items, insulated thermoware items, vacuum flasks, blossomates, and components and fitments for the automobile industry and various engineering products made from plastics. It launched Funny Bunny baby care product range which includes about 36 baby care products. The product range also includes chinaware and glassware. The companys products are sold under the Milton brand name. Historically, the Company was the first to launch the Thermoware range in India, by developing its own technology and technical knowhow and pioneered the Thermoware segment. In 1995, it entered into a joint venture with the Hong Kongbased Electricals and Electronics (EEL), to launch domestic appliances like sandwich toasters, hand mixers, hair dryers, etc. In 1999, the company introduces six new product ranges namely Microwavable Containers of various sizes, Nonstick ware, Water Purification System, Soft Thermoware Products, Pet Bottles/Jars of various sizes and shapes and Glass Based Tea and Dinnerware.The Board of Directors have decided to close down some of the noncore activities namley polymers trading and lease/finance activities.The Company made a preferential issue of 32,50,000 shares to Sweet Solutions Limited a business associate of the promoters of the Company. By issuing to above business associate the stake of the promoters was increased by 26% as against NIL % in previous year. During 200102 the company made a reference to BIFR as networth of the company was fully eroded.The Company closed down its operations at Silvassa Pune plant during 202324. The Companys manufacturing operations had stopped completely since Plant Machinery, Land Building, Warehouse at Pune had been sold during the FY 2024.