Satia Industries bags multiple contracts worth Rs 340 crores

Satia Industries Limited (BSE: 539201) and (NSE Symbol SATIA), one of the leading Wood and Agro-based paper manufacturers in India bagged major contracts for supply of paper for printing textbooks from Text Book Production and Marketing (Bhuvneshwar), M.P. Text Book Corporation (Bhopal),Rajasthan State Textbook Corporation (Jaipur), Maharashtra State Bureau of Textbook Production & Curriculum Research (MSBT) Pune for 34000 MT valuing over Rs 340 crores for their immediate requirement of paper for printing of Books. This demonstrates buyers' trust in the Company and its potential to fulfil upcoming enhanced demand of writing and printing paper with New Education policy (NEP)

Commenting on the order wins, Mr. Chirag Satia, Executive 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. 133.95 as compared to the previous close of Rs. 129.75. The total number of shares traded during the day was 272388 in over 4096 trades.

The stock hit an intraday high of Rs. 136.00 and intraday low of 130.25. The net turnover during the day was Rs. 36588996.00.

Source : Equity Bulls

Keywords

SatiaIndustries INE170E01023 OrderWin