Stock Report

JK Paper announces commercial production from its New Packaging Board Plant

Posted On : 2022-01-18 19:58:10( TIMEZONE : IST )

JK Paper announces commercial production from its New Packaging Board Plant

JK Paper Ltd., One of India's largest Paper producer announces commencement of commercial production of its New Packaging Board line at Unit - CPM, Gujarat. Its new line will add 1,70,000 TPA capacity of Virgin Fibre Board taking Company's total capacity of Packaging Board to 3,00,000 TPA, making it amongst the top two manufacturers in the country. Company's consolidated Paper and Board capacity will reach to 7,61,000 TPA including the capacity of its subsidiary, Sirpur Paper Mills.

The brand new state-of-the-art Packaging Board machine with cutting edge technology has come up at a capital cost of nearly Rs 2000cr. The machine has been supplied by Valmet and other equipments have been supplied by renowned manufacturers. The Plant will enable the Company to produce world class Valued Added Products and offer Sustainable and eco-friendly Packaging Solutions covering various sectors like Pharmaceuticals, Food products and services, Apparels, FMCG, Personal products etc. This investment will cater to the increasing demand for Virgin Packaging Board which is growing at 10-12%. This category is growing on the strength of rising consumerism, urbanization, changing life style, modern trade and other newer applications in different fields.

Despite the impact of Covid pandemic, both the Units of the Company are operating at their full capacities and achieving the best in class operating parameters. Sirpur Paper Mill has also improved its performance substantiaily.

The Company's focus on Plantation activities have made it wood and carbon positive company. JK Paper supplies 500 lac saplings to more than 65,000 farmers on yearly basis. Cumulatively, the Company has planted more than 4.97 lac acres of land.

Shares of JK Paper Limited was last trading in BSE at Rs. 221.75 as compared to the previous close of Rs. 227.15. The total number of shares traded during the day was 93519 in over 2859 trades.

The stock hit an intraday high of Rs. 232.10 and intraday low of 220.20. The net turnover during the day was Rs. 21067537.00.

Source : Equity Bulls


JKPaper INE789E01012 CommercialProduction PackagingBoardLine CPM Gujarat