Satia Industries jumps 4% on Rs 340-crore order wins

The orders signal a surge in demand for writing and printing paper with New Education policy is being implemented across the country, the company said

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Shares of Satia Industries, a wood and agro-based paper manufacturer, were trading over 4 percent higher on October 11 afternoon after the company said it bagged contracts for the supply of paper for printing textbooks from a number of clients.

According to a regulatory filing, the company received orders from Text Book Production and Marketing (Bhuvneshwar), MP Text Book Corporation (Bhopal), Rajasthan State Textbook Corporation (Jaipur), Maharashtra State Bureau of Textbook Production & Curriculum Research (MSBT) Pune for 34,000 MT valued at over Rs 340 crore for to print books.

The orders signal a surge in demand for writing and printing paper with the New Education policy (NEP) being implemented across the country, it said.

At 12.50 pm, the stock was trading at Rs 135.20 on BSE, up 4.20 percent from the previous session.

“These multiple order wins are reflective of our long-standing association with important customers and thank them for their trust in the quality and commitment of Satia Industries to deliver high volumes, well in time – both being imperative for delivery of textbooks to the students before the new
academic year,” said Chirag Satia, Executive Director of Satia Industries.

Orders from text-book boards also give revenue visibility to the company at attractive prices. Such orders command higher operating margins as compared to the open market, he said.

Satia Industries has successfully commissioned its PM 4 plant and augmented its installed capacity to 205,000 MTPA. It also has 540 acres of eucalyptus plantations that complement the future wood raw material requirements. The company claims to have a distribution network of more than 70 dealers and three branches in Delhi, Chandigarh and Jaipur.

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