Malu Paper Mills boosts profitability in FY 23-24 with increased capacity in Writing & Printing Paper segment

Malu Paper Mills boosts profitability in FY 23-24 with increased capacity in Writing & Printing Paper segment

- In the FY 2023-24 the company produced 82,442 Mt of paper as against 53,459Mt produced in FY 2022-23.
- The volume of writing and printing paper grew by a modest 3-5% due to increased digitalisation
The Pulp and Paper Times

Malu Paper Mills Ltd (MPML) has paper mills strategically located in Central India at Nagpur (Maharashtra). The company is the largest Newsprint and Writing & Printing manufacturer of Central India with 49,500 TPA capacities and produces quality Newsprint and Writing & Printing Paper with recycle process. MPML has swing facility wherein it can change to Newsprint and Writing paper production at short notice. The company is also in the manufacture of the packaging paper of recycle grade with an annual capacity 49,500 TPA. The positive turn of events in the Indian paper industry in the current year due to changes in the International and Domestic market, Environment and Industrial policy of the government has resulted in favourable changes, which will continue to impact the prospects of the company in years to follow.

MPML is in the business of Manufacturing Newsprint, Writing & Printing paper and Kraft Paper. The overall profitability of the Company during FY 23-24, as compared to the previous year, has been improved as company has increased its capacity in the Writing & Printing paper segment to utilize the higher capacity utilization.

The Annual report for FY 23-24 of Malu Paper Mills stated, the current year witnessed lot of change in the international paper market and these changes impacted the operations of the Indian paper industry. In the FY 2023-24 the company produced 82,442 Mt of paper as against 53,459Mt produced in FY 2022-23. In FY 2022-23, the company produced 33,612 Mt (63%) of Kraft paper and 19,815 Mt (37%) of Newsprint & Writing printing paper. In FY 2023-24, the company produced 47,439 Mt (58%) of Kraft paper and 35,003 Mt (42%) of Newsprint & Writing printing paper. There was a change in the product mix in FY 2023-24 to take advantage of the market scenario.

The Company continues to be engaged in manufacturing and sale of Kraft Papers, Writing & Printing and Newsprint papers. During the year 2023-24, the Company recorded a turnover of Rs. 2,74,44,08,013/-and net profit of Rs. 92,71,069/-compared to the turnover of Rs. 2,33,88,87,628/- and net loss of Rs. 10,35,41,038/-for the previous year 2022-2023.

The report said, that the Indian writing and printing paper market was valued at USD 2660.00 million in 2021 and is expected to reach USD 4502.48 million by 2029, registering a CAGR of 6.80 % during the forecast period of 2022 to 2029. The market has expanded significantly in recent years due to the swift adoption of packaging solutions and an increase in home delivery services across various regions. Writing, printing, and specialty paper are essential for protecting and transporting a diverse range of goods. Demand for this paper from catalogues, books, notebooks, industrial printing, stationery, newspapers, magazines, business forms, packaging, and labelling is expected to fuel the growth of the writing, printing, and specialty paper in India. The volume of writing and printing paper grew by a modest 3-5% due to increased digitalisation.
 

Web Title: Malu Paper Mills boosts profitability in FY 23-24 with increased capacity in Writing & Printing Paper segment