Seshasayee Paper and Boards revenue surges to Rs 556-crore
Seshasayee Paper and Boards, standalone net profit for the December quarter grew multi-fold to Rs 109-crore from Rs 5.90-crore. Revenue from operations surged to Rs 556-crore from Rs 334-crore, it said in a regulatory filing.
30 Jan 2023 | By PrintWeek Team
In 2022, managing director N Gopalaratnam said, "Shareholders are aware that over the last few years, the company has taken a lot of strategic initiatives with a focus to realign the company's focus to emerging global and regional trends."
Some of the key initiatives at Seshasayee Paper and Boards are increasing the product range with capabilities to manufacture single-layer and multi-layer boards. Also, there has been an upgradation of key equipment to improve the quality of paper and the efficiency of operations besides augmenting production capacity, and finally, increasing the proportion of green power by increased usage of bio-fuel in place of coal.
The project mill development plan – III (MDP-III) at the unit in Erode has been "the key driver in accomplishing most of the above said strategic initiatives". As a result, the paper capacity at Seshasayee at its Erode unit has increased to 1,65,000 tonnes per annum (tpa); and pulp capacity to 1,54,000 tpa.
Seshasayee Paper and Boards Limited (SPB), the flagship company belonging to the SPB-Esvin group, owns and operates an integrated pulp, paper and paper board mill at Pallipalayam in Erode and a paper mill in Tirunelveli.