Satia Industries got additional orders of INR 350 Cr; robust growth in writing and printing paper segment led by New Education Policy

Satia Industries got additional orders of INR 350 Cr; robust growth in writing and printing paper segment led by New Education Policy

-The management is well on track of achieving its target of 50% increase in production of paper on YoY basis. 
- Revenue from operations is likely to grow by over 100% in FY23. 
- SIL is committed to improve its EBITDA margins by 100 basis points YoY in current year

Punjab, India | February 10, 2023 | The Pulp and Paper Times:

Satia Industries Limited (SIL), one of the leading Wood and Agro-based paper manufacturers in India bagged additional orders from RSTB, Jaipur, Telangana and Bihar all three totalling over 16000 tons with a total worth of almost Rs 350 crore. This demonstrates buyers’ trust in Satia’s potential to fulfil upcoming enhanced demand of writing and printing paper with New Education policy (NEP) 

Satia Industries reports Revenue from operations increased by 125% on YoY basis from INR 2,163 Mn in Q3FY22 to INR 4,868 Mn in Q3FY23, mainly driven by better product mix and higher sales realization. For 9MFY23, revenue from operations grew by 129% to INR 13,631 Mn 

Commenting on the financial results, Executive Director Mr. Chirag Satia, said: “We are pleased to deliver an excellent quarter and fiscal in terms of volume as well as increased profits. The Revenue from Operations has increased by 125% in Q3 of FY23 vis-à-vis Q3 FY22 which was the result of higher capacity utilization, strong demand leading to higher sales volume and improved realizations.

“Besides three major contracts for supply of paper for printing textbooks from Bal Bharti, Pune, Maharashtra: Punjab School Education Board, Mohali, Punjab and UP for over 17,000 tons; Company got additional orders from RSTB, Jaipur, Telangana and Bihar all three totalling over 16000 tons with a total worth of almost Rs 350 crore.” Mr Satia Informed.

The Educational sector along with spurt in domestic demand of paper across the nation in addition to our continued strong association with State Textbook corporations, remains the key strength of the company. Paper Industry in India is expected to grow at compounded annual growth rate of 8-9% over the next 5 years on account of robust growth in writing and printing paper segment led by New Education Policy and govt focus on increasing literacy level in India.

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