Satia Industries Limited (SIL), one of the largest Wood and Agrobased paper manufacturers in India with a fully integrated manufacturing facility, has received an order from Rajasthan State textbook board for the supply of 8900 MT paper.
The company has been awarded an order worth ₹596.30 million from Rajasthan state textbook board, for supply of 8900 MT paper at a gross realization of ₹67,000 per ton. The said order will be executed by or before the end of Q1FY22 i.e 30th June 2021.
With the surge in per ton realization in paper prices which is at par or has crossed pre-Covid levels of ₹60,000 per ton registering an increase of 25-30% in the average pricing/realization of different varieties of paper than the average realization of ₹ 48,000+ in FY20-21.
Commenting on the order received, Mr. R. K. Bhandari, Joint Managing Director said, "We are pleased to announce that our sustained relation and consistency in delivering the best quality paper always has benefitted us in securing this higher realisation order worth ₹596.30 million which will improve our margin profile. This order further adds to our existing order pipeline which now sums up to 14,000 MT. We are moving ahead cautiously though both demand and price realisation present a robust profitable business opportunity in the upcoming quarters and will be supplemented by our incremental capacity of 100,000 MTPA to augment operations by end of September 2021."
Shares of Satia Industries Ltd was last trading in BSE at Rs.83.45 as compared to the previous close of Rs. 85.9. The total number of shares traded during the day was 4597 in over 99 trades.
The stock hit an intraday high of Rs. 86.35 and intraday low of 82.1. The net turnover during the day was Rs. 384388.