Satia, TCPL & West Coast Q3FY26 Update: Pressure on realizations, Exports Impacted for TCPL, demand in core WPP grades remained broadly stable

Satia, TCPL & West Coast Q3FY26 Update: Pressure on realizations, Exports Impacted for TCPL, demand in core WPP grades remained broadly stable

Satia Industries Limited (SIL), one of the leading writing and printing paper manufacturer in India, announced its results for the third quarter ended December 31, 2025, reporting Revenue for Q3FY26 grew 22% sequentially to INR 3,803 Mn from INR 3,111 Mn in Q2FY26, while net profit grew by 42% YoY at INR 280 Mn. Meanwhile, West Coast Paper Mills Limited reported its unaudited financial results for the quarter ended 31st Dec 2025, stating that the paper industry continued to operate in a challenging environment during Q3 with margins impacted mainly by rising imports. TCPL Packaging Limited (TCPL) also announced its financial results for the period ended December 31, 2025, with consolidated revenues for Q3 FY26 standing at Rs. 471 crore and EBITDA increasing by 15% YoY, driven by strong domestic business and operating efficiencies.

The Pulp and Paper Times

Satia Industries Limited (SIL), one of the leading writing and printing paper manufacturer in India, announced its results for the third quarter ended December 31, 2025.

SIL reports Revenue for Q3FY26 grew 22% sequentially to INR 3,803 Mn from INR 3,111 Mn in Q2FY26, driven by reduced imports and seasonal demand that helped stabilize prices and supported a gradual recovery. On a YoY basis, revenue was largely flat with 1% growth, compared to INR 3,758 Mn in Q3FY25. Net profit grew by 42% YoY at INR 280 Mn Q3FY26, as compared to INR 198 Mn in Q3FY25.

Commenting on the financial results, Executive Director Mr. Chirag Satia, said: “The Indian pulp and paper industry is currently navigating a complex operating landscape. While we are encouraged by steady underlying demand and robust volume growth, the quarter was characterized by significant margin pressure. This compression is primarily a result of high domestic input costs, specifically in wood procurement, coupled with a surge in low-priced imports that has dampened market realizations.

Despite these external pressures, our internal operations remain strong. Our machines continue to run at full capacity, reflecting the sustained demand for our products. Company has planned PM3 shutdown in the first quarter of the next financial year which will improve efficiencies.

Though year-over-year revenues remained flat with 1% growth, this is reflective of broader sector-wide stress rather than a shift in our fundamental value proposition. We currently maintain a healthy order book and anticipate a steady recovery in sales realizations as we enter the next quarter."

"Looking ahead, we anticipate a more favourable cost environment as wood prices moderate and fuel costs stabilize. We remain committed to our core pillars of efficiency, sustainability, and value-added growth. By investing in low-carbon technologies and optimizing our product mix, we are confident in our ability to navigate these near-term challenges and deliver long-term value to our stakeholders.”

West Coast Paper Mills Limited, has reported its unaudited financial results for the quarter ended 31st Dec 2025.

Commenting on the results Mr. S.K. Bangur, Chairman & Managing Director, West Coast Paper Mills Limited said: The paper industry continued to operate in a challenging environment during Q3 with margins impacted mainly by rising imports of paper resulting in competitive pricing pressure. While demand in core writing and printing grades remained broadly stable, realizations were affected across segments. West Coast Paper Mills maintained strong operational discipline with continued focus on efficiency and cost control. The Company remains committed to strengthening raw material security and sustainable operations and we expect the current pressure phase to stabilize and remains confident about the growth outlook for the industry.

West Coast reported standalone revenue for Q3FY26 decreased 8% QoQ to INR 590.77 Cr. from INR 644.53 Cr. in Q2FY26, driven by rising imports of paper. Net profit decreased by 59% QoQ to INR 18.61 Cr. in Q3FY26, as compared to INR 45.02 Cr. in Q2FY26.

TCPL Packaging Limited (TCPL), one of India’s leading producers of sustainable packaging solutions for customers across industries, has announced its financial results for the period ended December 31, 2025.

Commenting on the performance for Q3 & 9M FY2026 Mr. Saket Kanoria, Managing Director, TCPL Packaging Limited said: “Our performance during the quarter was led by a strong domestic business, which delivered healthy growth and helped offset lower export volumes amid a subdued global environment. Consolidated revenues for Q3 FY26 stood at Rs. 471 crore. EBITDA increased by 15% YoY, with margins expanding over 240 basis points to 17%, primarily driven by gross margin improvement and operating efficiencies.

Exports were impacted during the quarter, largely due to a high base and continued softness in overseas markets. We remain focused on strengthening customer relationships across markets while taking a calibrated approach to exports.

Looking ahead, with domestic demand expected to remain healthy and the trade deals made by India with the EU and USA, our focus is on expanding our footprint, broadening our product portfolio, and driving growth through diversification. Backed by a strong balance sheet and disciplined capital allocation, we are well positioned to benefit from the shift towards organised players and deliver sustained long-term value.”
 

Web Title: Satia, TCPL & West Coast Q3FY26 Update: Pressure on realizations, Exports Impacted for TCPL, demand in core WPP grades remained broadly stable; West Coast revenue declined 8% QoQ