Dear Shareholders,
With robust GDP growth of over 8% for the financial year 2024; and
healthy increase in literacy rate in India thanks to the government focus on Literacy
mission coupled with NEP;your company was able to achieve increased productionvolume of
2.14 lac tons and despitea reductionin sales realisation of almost 9% over the previous
year; your company achieved a topline of Rs. 1736 crore and an increased PAT of Rs. 211 cr
against Rs.192.17 crores in the financial year 2022-23. EPS too increased to Rs. 21.12 per
share from Rs.19.22 per share in the previous year.
Our team is committed to maintain this healthy trend by way of adopting
new technology both in paper and pulping, optimisation of various inputs, almost 100%
shifting to rice straw as fuel, improving quality and introducing new varieties of Surface
sized paper on PM4 and increasing our presence in Photocopier segment, thus broadening our
customer base further.
Your company is also making plans to modernise PM 3 based on our
experience of PM4 in the next financial year which shall lead to higher productivity and
production along with cost reduction resulting from lower steam and energy requirement per
ton of paper and better quality product. We plan to expand our production from
existing level of 600 TPD to 700 TPD - a substantial increase of over
16 %.
Industry is facing a tough time because of abnormal dumping of paper
from ASEAN countries at zero duty with a massive 142% increase in imports from these
countries alone. Poor availability and high prices of wood and prohibitive price increase
in both soft and hard wood pulp prices is a big challenge to the industry. However, your
company plans to meet this challenge by using more of agricultural residual based pulp and
cheaper rice straw fuel and maintain our margins despite pressure on the product price as
well.
Your company is fully aware of its responsibilities towards all stake
holders and doing our best meeting all environmental regulations and planting trees in
coordination with village panchayat. Our CSR obligations are being met working with full
responsibility especially in the field of education, health and mental well being.
Finally, I express my thanks and gratitude to you all for your
continued support.
With Best Wishes
Dr. Ajay Satia
Chairman Cum Managing Director