Satia Industries bags multiple contracts of 17000 tons worth Rs 200 crore

Satia Industries Limited (BSE: 539201) and (NSE Symbol SATIA), one of the leading Wood and Agro-based paper manufacturers in India bagged three major contracts for supply of paper for printing textbooks from Bal Bharti, Pune, Maharashtra; Punjab School Education Board, Mohali, Punjab and UP. The order totals over 17,000 tons worth a value of almost Rs 200 crore for execution in the Q4FY23; this demonstrates buyers' trust in Satia company's potential to fulfil upcoming enhanced demand of writing and printing paper with New Education policy (NEP)

Commenting on the order wins, Mr. RK Bhandari, Joint Managing Director of Satia Industries said, "These multiple order wins are reflective of our long-standing association with important customers and thank them for their trust in the quality and commitment of Satia Industries to deliver high volumes, well in time - both being imperative for delivery of textbooks to the students before the new academic year.

Orders from text-book boards also give revenue visibility to the company at attractive prices. Such orders command higher operating margins as compared to open market."

Shares of Satia Industries Limited was last trading in BSE at Rs. 135.65 as compared to the previous close of Rs. 130.95. The total number of shares traded during the day was 44289 in over 1387 trades.

The stock hit an intraday high of Rs. 138.25 and intraday low of 129.30. The net turnover during the day was Rs. 5958999.00.

Source : Equity Bulls

Keywords

SatiaIndustries INE170E01023 OrderWin