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"HORIZON" TSELLULOOSI JA PABERI AKTSIASELTS

Legal form:

Public limited company

Registry code:

10089165

VAT no.:

EE100442746

Fiscal-year period:

01.01 - 31.12

Established:

19.05.1997 (29)

Capital:

14 828 755 EUR

Address:

Anija mnt 10/1, Kehra linn, Anija vald, Harju maakond, 74305

Status:

Registered

Contacts

Email:

admin@horizon.ee

Phone:

+372 6085007

Website:

https://horizon.ee/

Industries

MANUFACTURING
Manufacture of paper and paper products
Production of pulp, paper and paperboard
17121 - Production of paper and paperboard
Manufacture of paper and paperboard products
17251 - Manufacture of other paper and paperboard products

VAT liability

	Start	End
EE100442746	01.10.1995

Annual reports

Aggregate data

	Period	Submitted
2025	01.01.2025 - 31.12.2025	Due date 30.06.2026
2024	01.01.2024 - 31.12.2024	17.07.2025	Valid
2023	01.01.2023 - 31.12.2023	17.07.2024	Valid
2022	01.01.2022 - 31.12.2022	07.07.2023	Valid
2021	01.01.2021 - 31.12.2021	27.06.2022	Valid
2020	01.01.2020 - 31.12.2020	02.07.2021	Valid
2019	01.01.2019 - 31.12.2019	09.07.2020	Valid
2018	01.01.2018 - 31.12.2018	19.08.2019	Valid
2017	01.01.2017 - 31.12.2017	28.08.2018	Valid
2016	01.01.2016 - 31.12.2016	14.07.2017	Valid
2015	01.01.2015 - 31.12.2015	02.09.2016	Valid
2014	01.01.2014 - 31.12.2014	20.07.2015	Valid
2013	01.01.2013 - 31.12.2013	29.05.2014	Valid
2012	01.01.2012 - 31.12.2012	10.06.2013	Valid
2011	01.01.2011 - 31.12.2011	29.06.2012	Valid
2010	01.01.2010 - 31.12.2010	30.06.2011	Valid
2009	01.01.2009 - 31.12.2009	29.06.2010	Valid
2008	01.01.2008 - 31.12.2008	27.01.2010	Valid
2007	01.01.2007 - 31.12.2007	17.10.2008	Valid
2006	01.01.2006 - 31.12.2006	19.10.2007	Valid
2005	01.01.2005 - 31.12.2005	22.03.2007	Valid
2004	01.01.2004 - 31.12.2004	21.09.2005	Valid
2003	01.01.2003 - 31.12.2003	30.06.2004	Valid
2002	01.01.2002 - 31.12.2002	03.07.2003	Valid
2001	01.01.2001 - 31.12.2001	16.09.2002	Valid
2000	01.01.2000 - 31.12.2000	27.06.2001	Valid

Unsubmitted declarations

No unsubmitted declarations found

No unsubmitted declarations as of 11.06.2026.

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Credit rating

Hidden

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020406080100

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Tax data

	State taxes	Labour taxes	Taxable turnover	Employees
2026 Q1	0 €	823 878 €	7 856 642 €18.7%	319
Kokku 2026:	0 €	823 878 €	7 856 642 €
2025 Q4	0 €	828 577 €	9 662 058 €3.5%	325
2025 Q3	0 €	988 180 €	10 015 872 €4.9%	321
2025 Q2	0 €	856 281 €	10 529 970 €13.0%	326
2025 Q1	0 €	845 074 €	9 322 539 €15.5%	321
Kokku 2025:	0 €	3 518 112 €	39 530 439 €8.8%
2024 Q4	0 €	876 917 €	11 028 336 €13.5%	320
2024 Q3	0 €	992 775 €	12 744 665 €4.2%	328
2024 Q2	0 €	707 751 €	13 299 764 €111.7%	319
2024 Q1	0 €	810 419 €	6 283 272 €23.0%	314
Kokku 2024:	0 €	3 387 862 €	43 356 037 €47.4%
2023 Q4	85 816 €	773 808 €	8 156 573 €24.3%	331
2023 Q3	478 768 €	779 667 €	6 563 717 €5.0%	330
2023 Q2	264 586 €	751 897 €	6 251 670 €26.0%	329
2023 Q1	382 489 €	877 742 €	8 447 935 €28.8%	334
Kokku 2023:	1 211 659 €	3 183 113 €	29 419 895 €62.6%
2022 Q4	0 €	815 102 €	11 866 079 €41.8%	341
2022 Q3	483 657 €	1 139 573 €	20 401 329 €12.5%	347
2022 Q2	0 €	1 007 170 €	23 324 553 €0.7%	346
2022 Q1	0 €	1 133 513 €	23 167 703 €19.6%	343
Kokku 2022:	483 657 €	4 095 358 €	78 759 664 €31.9%
2021 Q4	0 €	870 362 €	19 376 795 €23.0%	350
2021 Q3	0 €	950 693 €	15 752 986 €25.2%	359
2021 Q2	0 €	754 167 €	12 584 627 €4.7%	371
2021 Q1	0 €	876 504 €	12 019 740 €21.2%	363
Kokku 2021:	0 €	3 451 727 €	59 734 148 €34.7%
2020 Q4	0 €	744 121 €	9 921 200 €7.7%	362
2020 Q3	129 768 €	955 562 €	10 744 873 €13.7%	365
2020 Q2	0 €	786 027 €	12 449 848 €10.9%	365
2020 Q1	62 664 €	866 127 €	11 223 261 €9.0%	361
Kokku 2020:	192 432 €	3 351 838 €	44 339 182 €17.4%
2019 Q4	0 €	750 654 €	10 300 466 €12.5%	370
2019 Q3	0 €	1 049 221 €	11 774 727 €29.0%	375
2019 Q2	0 €	916 914 €	16 586 289 €10.3%	357
2019 Q1	219 478 €	982 671 €	15 033 167 €9.6%	368
Kokku 2019:	219 478 €	3 699 460 €	53 694 649 €18.7%
2018 Q4	0 €	794 123 €	16 629 555 €0.7%	372
2018 Q3	0 €	963 612 €	16 515 802 €7.3%	371
2018 Q2	0 €	805 852 €	17 820 141 €17.9%	362
2018 Q1	431 634 €	948 128 €	15 110 466 €1.5%	350
Kokku 2018:	431 634 €	3 511 715 €	66 075 964 €17.6%
2017 Q4	0 €	785 803 €	14 888 748 €3.3%	364
2017 Q3	260 975 €	941 300 €	15 398 029 €11.9%	368
2017 Q2	0 €	812 166 €	13 757 259 €13.5%	362
2017 Q1	1 047 354 €	873 942 €	12 121 493 €20.5%	366
Kokku 2017:	1 308 329 €	3 413 211 €	56 165 529 €25.1%
2016 Q4	-353 523 €	745 595 €	10 062 552 €16.2%	346
2016 Q3	-8 010 €	889 348 €	12 002 638 €10.5%	346
2016 Q2	155 373 €	804 940 €	10 863 465 €9.3%	346
2016 Q1	206 160 €	887 258 €	11 974 430 €17.9%	346
Kokku 2016:	0 €	3 327 141 €	44 903 085 €0.3%
2015 Q4	-412 447 €	782 869 €	10 158 665 €14.0%	375
2015 Q3	498 112 €	910 013 €	11 808 507 €10.4%	375
2015 Q2	0 €	824 156 €	10 694 410 €11.8%	375
2015 Q1	0 €	934 127 €	12 121 418 €	375
Kokku 2015:	85 665 €	3 451 165 €	44 783 000 €

Revenue by industry

	2022	2023	2024
Production of paper and paperboard	65 031 656 €	20 908 864 €	36 238 796 €
Manufacture of other paper and paperboard products	3 095 710 €	1 395 644 €	1 365 018 €

Tax debts

No tax debt found

No tax debt as of 11.06.2026

Representatives

Name	Personal ID code	Date of birth	Role	Start	End
Bashyam Krishnan	36305XXXXXX	01.05.1963 (63)	Board member	08.05.2025	-
Bidya Bhusan Dash	36602XXXXXX	10.02.1966 (60)	Board member	13.07.2016	-
Roman Bukatšjov	37406XXXXXX	09.06.1974 (52)	Board member	30.11.2009	-

7 inactive record hidden, extended access to the information portal is required to view history!

1 - 3 / 3 rows

Shareholders

Name	Personal ID code	Date of birth	Role	Share	%	Type	Start	End
TOLARAM INDUSTRIES PTE. LTD.	-	-	Shareholder	14 828 755,00 EUR	100	Sole ownership	16.08.2023	-

10 inactive record hidden, extended access to the information portal is required to view history!

1 - 1 / 1 rows

Other persons

Name	Personal ID code	Date of birth	Role	Start	End
Indrek Alliksaar	37404XXXXXX	02.04.1974 (52)	Audit firm	16.12.2025	-
Kpmg Baltics Oü	-	-	Audit firm	16.12.2025	-
Narinder Kumar G Aswani	-	12.04.1963 (63)	Chairman of the supervisory board	30.09.2025	-
Deepak Singhal	-	18.05.1975 (51)	Supervisory-board member	30.09.2025	-
Harkishin Ghamshandas Aswani	-	05.10.1961 (64)	Supervisory-board member	30.09.2025	-

17 inactive record hidden, extended access to the information portal is required to view history!

1 - 5 / 7 rows

Ultimate beneficial owners

Name	Personal ID code	Date of birth	Role	Start	End
Harkishin Ghanshamdas Aswani	-	05.10.1961 (64)	Other form of control/influence (contractual, family etc.)	18.10.2024	-
MOHAN K VASWANI	-	26.08.1938 (87)	Other form of control/influence (contractual, family etc.)	18.10.2024	-
Narinder Kumar Ghanshamdas Aswani	-	12.04.1963 (63)	Other form of control/influence (contractual, family etc.)	18.10.2024	-
RAJESHLAL MOHANLAL VASWANI	-	31.03.1971 (55)	Other form of control/influence (contractual, family etc.)	18.10.2024	-
Sajen Ghanshamdas Aswani	-	22.04.1960 (66)	Other form of control/influence (contractual, family etc.)	18.10.2024	-

1 - 5 / 6 rows

Holdings in companies

No holdings in companies found

Company has no holdings in other companies

6 inactive record hidden, extended access to the information portal is required to view history!

2026 Q1

Turnover

Amount

7 856 642 €

Monthly average

2 618 881 €

Per employee

8 210 €

Equity ratio

17,66%

Labour taxes

Turnover ratio

10,49%

Tax ratio

0,00%

Monthly average

274 626 €

Per employee

853 €

State taxes

Monthly average

0 €

Turnover ratio

0,00%

Estimated salary

Gross salary

1 678 €

Net salary

1 392 €

Aggregate data

	2024	2023	2022	2021	2020	2019
Current assets	-	13 162 000 €36.0%	20 558 000 €10.6%	22 985 000 €47.4%	15 596 000 €23.1%	20 278 000 €
Non-current assets	-	92 202 000 €2.2%	94 243 000 €1.0%	95 207 000 €1.3%	96 504 000 €1.4%	97 855 000 €
Total assets	103 075 400 €2.2%	105 364 000 €8.2%	114 801 000 €2.9%	118 192 000 €5.4%	112 100 000 €5.1%	118 133 000 €
Short-term liabilities	-	8 286 000 €48.8%	16 199 000 €8.6%	14 922 000 €8.2%	13 795 000 €6.7%	12 927 000 €
Long-term liabilities	-	8 482 000 €98.7%	4 269 000 €69.6%	14 045 000 €37.9%	22 617 000 €21.2%	28 711 000 €
Total liabilities	-	16 768 000 €18.1%	20 468 000 €29.3%	28 967 000 €20.4%	36 412 000 €12.6%	41 638 000 €
Share or stock capital	-	14 829 000 €	14 829 000 €	14 829 000 €	14 829 000 €	14 829 000 €
Retained earnings	-	79 504 000 €22.9%	64 670 000 €6.3%	60 859 000 €5.5%	57 692 000 €3.8%	55 559 000 €
Net profit	-	-5 737 000 €138.7%	14 834 000 €9.6%	13 537 000 €327.4%	3 167 000 €48.1%	6 107 000 €
Equity	-	88 596 000 €6.1%	94 333 000 €5.7%	89 225 000 €17.9%	75 688 000 €1.1%	76 495 000 €
Turnover	37 603 816 €68.6%	22 305 000 €67.3%	68 128 000 €17.7%	57 894 000 €41.6%	40 888 000 €10.8%	45 850 000 €
Profit margin	0.00%	-25.72%218.1%	21.77%6.9%	23.38%201.9%	7.75%41.8%	13.32%

Financial ratios

	2024	2023	2022	2021	2020
Profit and cash flow
EBITDA	I OXB HAD	-J SQB KKD	QE FEH HKE	17 371 000	7 213 000
Liquidity
Current ratio	B.D	F.K	D.Q	1.5	1.1
Quick ratio	P.J	S.X	M.M	1.2	0.8
Cash ratio	J.M	J.U	X.O	0.7	0.4
Efficiency
Days sales outstanding (dso)	ZK.V	RW.D	BD.Q	43.2	58.5
Asset turnover	B.Q	G.R	O.J	0.5	0.4
Structure
Debt ratio	U.F	R.Y	U.A	0.2	0.3
Profitability
Operating margin	-B.A%	-XX.E%	DR.E%	24.3%	9.5%
Net profit margin	-P.L%	-BC.D%	TM.X%	23.4%	7.7%
Return on assets (roa)	-Y.Z%	-E.C%	SW.T%	11.8%	2.8%
Return on equity (roe)	-N.G%	-X.S%	NE.K%	15.2%	4.2%

To view all financial ratios, you need to subscribe to extended access to the info portal!

Licences & notices

Type	Number	Field	Status	Start	End
License	ELO000028	Electricity > Transmission of electricity via a direct line or lines	Valid	04.12.2017	-
License	RDK000001	Railway > Rail freight transport	Valid	16.02.2017	-
Notice of economic activity	TGT000352	- > Gas works	Valid	21.03.2014	-
License	ELT000021	Electricity > Generation of electricity	Valid	24.02.2007	-
License	KST000014	District heating > Heat production	Valid	24.02.2007	-

1 - 5 / 5 rows

Regulations

Regulation no.	Date	Type	Deadline	Status
Ä 10006064 / 35	19.12.2025	Entry - Amendment entry		Entered into force (19.12.2025)
Ä 10006064 / 34	07.08.2025	Entry - Amendment entry		Entered into force (07.08.2025)
Ä 10006064 / M13	07.07.2025	Fine-warning order – annual report not filed	06.08.2025	Deficiencies remedied (18.07.2025)
Ä 10006064 / M12	09.05.2025	Order refunding the fee (NAP)		Entered into force (09.05.2025)
Ä 10006064 / 33	08.05.2025	Entry - Amendment entry		Entered into force (08.05.2025)

1 - 5 / 44 rows

Real estate

Address	Area	Purpose
Anija mnt 10, Kehra linn, Anija vald, Harju maakond	228106 m²	Industrial land 100%
Anija mnt 10a, Kehra linn, Anija vald, Harju maakond	27014 m²	Industrial land 100%
Anija mnt 10b, Kehra linn, Anija vald, Harju maakond	28478 m²	Industrial land 100%
Anija mnt 5, Kehra linn, Anija vald, Harju maakond	3939 m²	Industrial land 100%
Anija mnt 7, Kehra linn, Anija vald, Harju maakond	15981 m²	Industrial land 100%

1 - 5 / 28 rows

Consumer Disputes Committee decisions

No consumer dispute committee decisions found

Company has not been issued consumer dispute committee decisions

Court decisions

Case number	Procedure type	Judgment type	Category	Judges	ECLI	Date
2-21-6260/21	Civil case	Court ruling (Compromise ruling)	Property law	Tiia Bergson	ECLI:EE:HMK:2021:2.21.6260.19134	12.10.2021
2-09-15041/12	Civil case	Court judgment	Other	Mare Merimaa, Margo Klaar, Tiit Kollom	ECLI:EE:TLRK:2010:2.09.15041.36518	11.10.2010
2-08-23693/36	Civil case	Court ruling	Law of obligations	Margo Klaar, Malle Seppik, Tiit Kollom	ECLI:EE:TLRK:2010:2.08.23693.10577	03.03.2010
2-08-91597/11	Civil case	Court ruling	Bankruptcy law	Mare Merimaa, Gaida Kivinurm, Iko Nõmm	ECLI:EE:TLRK:2009:2.08.91597.33784	01.09.2009

1 - 4 / 4 rows

Official announcements

Subject	Date
Notice of granting or refusal of an integrated permit	27.11.2023
Notice of disclosure of the draft integrated permit	01.06.2023
Notice of initiation of proceedings for an integrated permit	09.03.2023
Notice of granting or refusal of an integrated permit	31.08.2021
Notice of company merger	31.03.2021

1 - 5 / 33 rows

Public transactions

Date	Party	Amount	Classification
14.04.2026	Eesti Töötukassa	800.00 € Received	OTHER GRANTS Social protection of the unemployed
24.03.2026	Majandus- ja Kommunikatsiooniministeerium	2 977.07 € Received	OTHER GRANTS R&D in general economic, trade and labour policy
16.03.2026	Eesti Töötukassa	723.81 € Received	OTHER GRANTS Social protection of the unemployed
13.02.2026	Eesti Töötukassa	800.00 € Received	OTHER GRANTS Social protection of the unemployed
14.01.2026	Eesti Töötukassa	800.00 € Received	OTHER GRANTS Social protection of the unemployed

1 - 5 / 50 rows

.ee domains

Domain	Status	Registered	Expires	End
horizonapi.ee	Active	22.10.2025	23.10.2026	-
horizonbag.ee	Active	08.05.2018	09.05.2027	-
horizon.ee	Active	04.07.2010	12.12.2026	-

1 - 3 / 3 rows

Enforcement proceedings

No enforcement proceedings found

Company has no active debts with bailiffs

Payment orders

No payment orders found

Company has no court-ordered payment orders