The paper industry, which had an estimated turnover of more than INR 40,000 crores, is believed to cause harms the environment. Indian Paper Manufacturers Association (IPMA) started campaigning for altering the perception of the industry. IPMA president Sanjay Singh spoke to the media on challenges the paper manufacturers are facing in the current times in dealing with environmental concerns as well as increasing consumption in the face of growing demand for going ‘paperless’ across various organizations.
Shares of some of the paper and paper product companies touched or breached their respective 52 week highs in an otherwise flat market market after reporting a strong set of financials for the quarter ended 30th June, 2016 (first quarter of FY17).
Some of the shares which touched 52 week high on BSE are Seshasayee Paper and Boards, West Coast Paper, Star Paper Mills, Ruchira Papers, N R Agarwal Industries, Tamil Nadu Newsprint and Papers, Kuantum Papers and Kushal Tradelink.
51 paper companies which have reported their Q1 of FY17 results so far have posted an over six-fold jump in their aggregate net profit. A combined net profit of these companies rose to Rs 220 crores from Rs 36 crores in the same quarter year ago.
Seshasayee Paper and Boards hit a fresh 52-week high of Rs 489.90 on the NSE in intra-day trade on Wednesday.
Currently Seshasayee Paper share price is trading at Rs 468.00, up by 4.53 per cent. In the past one-month, post the first quarter results, the stock rallied by 46 per cent after the company posted an over four-fold jump in net profit at Rs 24.12 crores in Q1 FY17, as a result of strong operational performance. The company had profit of Rs 5.39 crores in the same quarter last fiscal.Earnings before interest, taxes, depreciation and amortization (EBITDA) margins nearly doubled to 17.59 per cent in Q1FY17 from 9.9 per cent in Q1 of FY16.
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