Satia Industries rises 5% on order wins worth Rs 96.5 crore

Satia Industries bagged major contracts for supply of paper for printing textbooks from Orissa, Himachal Pradesh and West Bengal

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Shares of Satia Industries rose 5 percent on September 5 after the company bagged major contracts for supply of paper for printing textbooks from Orissa, Himachal Pradesh and West Bengal for a total value of Rs 96.50 crore.

This demonstrates buyers’ trust in Satia’s potential to fulfil upcoming enhanced demand of writing and printing paper with New Education policy, the company said in an exchange filing.

At 2:02 pm, shares of the company were trading 0.8 percent higher at Rs 136.9 on the BSE.

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RK Bhandari, Joint Managing Director of Satia Industries said, “Orders from text-book boards also give revenue visibility to the company at attractive prices. Such orders command higher operating margins as compared to open market”.

This order win is reflective of the confidence in Satia Industries to provide large quantities of textbooks promptly, which are essential for ensuring timely delivery to students before the start of the new academic year. The contracts are for immediate execution, the company said.

Satia Industries is one of the largest wood and agro-based paper manufacturers in India. In last three decades, the company has witnessed a complete transformation in its operations and has become a fully backward integrated player having integrated pulping, chemical recovery and power self-sufficiency.