ITC-PSPD: Subdued demand partly offset by growth in exports; reports INR 285 Cr. Profit Before Tax in Q3

ITC-PSPD: Subdued demand partly offset by growth in exports; reports INR 285 Cr. Profit Before Tax in Q3

Kolkata | 12th February 2021 | The Pulp and Paper Times:

ITC's Paperboards and Specialty Papers Division (ITC-PSPD), is amongst the leading names in the business worldwide. ITC-PSPD recorded INR 285 cr. profit before tax in Q3 of FY 20-21, which is 14.6 percent low to previous year Q3’s PBT, stood at INR 334 cr.

In a media statement, ITC PSPD says that the Subdued demand in the Domestic market partly offset by robust growth in Exports. Liquor, Publications & Paper, and Wedding Cards remain subdued. Softer realisations weighed on Revenue growth.

“Paperboards and Specialty Papers business recorded strong recovery in volumes with exports continuing to grow at a rapid pace. Consumer offtake continued to improve across most major end-user segments in paperboards barring publication, notebooks and wedding cards. Specialty papers witnessed strong growth driven by pharma and décor segments,” the statement said.

Covid pandemic didn’t create any hurdle in ITC-PSPD’s project related to operational efficiencies, paper machine rebuild project at Bhadrachalam and pressure recovery boiler project on schedule high despite Covid disruptions – pulp mill capacity expansion (import substitution), reduced Carbon footprint and operational efficiencies

ITC-PSPD continues to focus on developing sustainable paperboard and packaging solutions for end-customers leveraging the Company’s state-of-the-art Life Sciences and Technology Centre. The recyclable barrier board ‘Filo’ series and biodegradable ‘Omega Series’ continue to gain robust customer franchise. Further, ITC-PSPD has also developed antiviral paper for applications in pharma and education & stationery businesses which is in the process of commercialization. Similarly, the Packaging Business has developed unique and novel solutions including Bio-seal (bio-degradable packaging solution for QSR, personal care, and packaged foods industries) and Oxyblock (a recyclable packaging solution with enhanced barrier properties) which are under various stages of commercialization.

ITC takes great pride in servicing a large cross-section of industry requirements - from cigarette papers and Components to FMCG cartons, from electrical insulation papers to Bio-based Barrier Coated Board, from decorative laminate base to writing and printing papers, and much more. ITC straddles the entire spectrum of paperboards - from 100% virgin, food-grade boards which are made from renewable and sustainable sources to 100% recycled boards.

         

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