Kitply Industries managing director PK Goenka said that the court had revoked its order on January 15 this year. The company incurred losses in the order of Rs 100 crore owing to the closure.

Goenka said, "During the last three years, we had no profits as such, but with these reopenings, we shall have happy days again. Our total loss is likely to be around Rs 100 crore, which includes Rs 30 crore paid as wages despite having a closed unit. Interests and insurance premiums were also included."

Kitply has appointed global consultants Ernst & Young to carry out a valuation exercise for its brand. Gaurav K Goenka, president, business development, said that the valuation would be over within a month.

Ernst & Young has also valued Kitply's agro-forestry division located in Madhya Pradesh. At present, it has been valued at Rs 180 crore but it is expected to rise to Rs 380 crore during the next five years.

Gaurav Goenka said that the reopening of the units had coincided with the expected spurt in house building. "The demand growth rate of plywood will be around 30 per cent a year. We are expecting to increase our turnover by another Rs 100 crore from the existing level Rs 170 crore," he said.

Sixty per cent of the plywood industry is comprised of unorganised players and the rest are organised operators. Goenka said that Kitply had a 10 per cent share in the overall market.