While the specialty paper manufacturer, Pudumjee Pulp and Paper Mills made its way to the profit books, Seshasayee Paper and Boards’ and Sree Sakthi Paper Mills’ balance sheet were tepid.
Pudumjee Pulp and Paper Mills
Pudumjee Pulp and Paper Mills (PPPM) is the flagship company of the Pudumjee Group that was started in 1964. Today, Pudumjee Pulp and Paper has a capacity of over 38,000 MT per annum of specialty papers.
The company’s standalone net profit rose by 30.60% to Rs 14.47-crore in the quarter ended March 2015 as against Rs 11.08-crore during the previous quarter ended March 2014.
Sales rose 29.25% to Rs 68.45-crore in the quarter ended March 2015 as against Rs 52.96-crore during the previous quarter ended March 2014.
PPPM’s distribution network has a presence pan India and an effective reach in Europe, South-East Asia, UAE, and Iran among others.
Seshasayee Paper and Boards
Seshasayee Paper and Boards (SPB) standalone net profit declined 77.07% during the quarter ended on March 2015. Sales rose 8.00% to Rs 305.15-crore in the quarter ended March 2015 as against Rs 282.54-crore during the previous quarter ended March 2014.
SPN board of directors, at its meeting held on 30 May 2015, inter alia, have recommended the final dividend of Rs 4 per equity share (i.e. 40%), subject to the approval of the shareholders.
Furthermore, the company has been granted Environment Clearance (EC) by Start Level Environment Impact Assessment Authority (SEIAA), Tamil Nadu, for the company’s Tirunelveli unit for enhancement of production of writing and printing paper from 72,000 tonnes per annum (TPA) to 1,10,000 TPA.
The company has also received EC for production of waste paper pulp – 58,000 TPA by re-commissioning of de-inking plant for captive use and augmenting power generation by 18MW.
Sree Sakthi Paper Mills
Sree Sakthi Paper Mills (SSPM), which operates two kraft paper units and one duplex board unit in Kerala, is a second down in the list.
The company sales declined 5.45% to Rs 31.50-crore in the quarter ended March 2015 compared to their sales figures in the corresponding quarter in the previous fiscal year. Net profit was also down by 7.11% for the quarter.
SSPM is a part of Sree Kailas Group. With a turnover of Rs 400-crore, the business conglomerate has diversified interest in paper segment, logistic parks and construction and infrastructure activities. It boasts of a production capacity of close 1,00,000 MTA.
Article Source: printweek.in