Three M Paper has subsequently enhanced its installed capacity to 1,08,000 MT and achieved 101% capacity utilization in FY 24–25

Three M Paper has subsequently enhanced its installed capacity to 1,08,000 MT and achieved 101% capacity utilization in FY 24–25

The Pulp and Paper Times

Three M Paper, established in 1989, is a prominent player in the Indian paper industry, known for producing packaging boards. The Company is committed to environmental sustainability, incorporating eco-friendly practices in its operations. With a diverse product range, expanded production capacities, and a strong presence in both domestic and international markets, Three M Paper has built a solid market position. Its focus on customer satisfaction and its trusted reputation have further cemented its leadership in the industry.

To market products around a superior value proposition across grades and geographies, Three M Paper has devised its product strategy and marketing policy prudently in accordance with the evolving international standards customized closely to the needs of customers across India. The company is engaged in the business of manufacturing recycled paper-based Duplex Board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets. Our products are made out of 100 percent recycled waste paper and are completely biodegradable. The company sets out to undertake various innovations in both the product-development side as well as in manufacturing processes on a consistent basis. The company is headquartered in Mumbai, with its manufacturing facility located in Chiplun, Dist. Ratnagiri, Maharashtra. Equipped with state-of-the-art machines and ultramodern technologies in its manufacturing facility, the company had a total manufacturing capacity of 72,000 TPA paper at the close of FY 2024–25 which includes variety of products including Royal Grey Back, Prima Grey Back and Royal White Back. The installed capacity has subsequently been enhanced to 1,08,000 MT from the financial year FY 2025-26.

During Financial Year 2024-25, Three M Paper achieved a turnover of INR 26,553.41 lakhs as compared to INR 27,223.48 lakhs in Financial Year 2023-24, registering a decline of 2.46%. Operating margins were impacted due to higher raw material and energy costs; however, improved product mix and operational efficiency helped mitigate part of the impact.

Production & Sales: 

During the year, Three M Paper achieved a production of 73,043 MT as against 70.182 MT in the previous year, representing a capacity utilization of around 101% based on the installed capacity of 72,000 MT. The installed capacity has subsequently been enhanced to 1,08,000 MT from the financial year FY 2025-26 During the year under consideration, the revenue decreased to Rs. 26,553.41 as against Rs. 27,223.48 in the previous year.

The Annual report of Three M Paper for FY 24-25 stated that, The Duplex Board market witnessed volatility due to fluctuations in waste paper prices, global pulp costs, freight charges and demand-supply mismatches. Packaging demand from FMCG, pharma, food & beverages and e-commerce sectors supported steady domestic growth.

Exports: Export performance was moderated due to freight costs and international currency fluctuations, though selective high-value markets were serviced. 

Operational Efficiency: The Company implemented energy conservation projects, upgraded process controls and optimized raw material procurement, resulting in better cost efficiency.

Three M Paper’s domestic sales continued to remain strong, contributing around 80% of revenue, supported by demand from packaging and FMCG customers. Export sales contributed 20% of revenue, with higher realization in certain geographies despite global economic headwinds. The Company focused on higher grammage and value-added products to improve realizations.

The pulp and paper market in India are expected to be valued at USD5.83 billion in 2025 at a CAGR of 3.45% (2025-2029). The value added per capita in the pulp and paper market is projected to amount to USD4.01 in 2025. The market value of the Indian paper industry was 11 forecast to peak USD 19.1 billion in 2033. Among the various business segments within the paper industry, the packaging industry fared well across application segments like the pharma sector and FMCG, catalysed by e-commerce, the report stated.
 

Web Title: Three M Paper has subsequently enhanced its installed capacity to 1,08,000 MT and achieved 101% capacity utilization in FY 24–25