Leading wood and agro-based paper manufacturer Satia Industries on Monday said it bagged three major contracts for the supply of paper for printing textbooks from Bal Bharti, Pune, Maharashtra; Punjab School Education Board, Mohali, Punjab and Uttar Pradesh.
The orders totalled over 17,000 tonne, worth Rs 200 crore (USD 25M approx.), for the execution in the fourth quarter of 2022-23 (Q4FY23), according to the company’s statement.
Commenting on the order wins, RK Bhandari, joint managing director of Satia Industries said, 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. 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.
He added, “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.” (ANI).
Satia Industries is one of the largest wood and agro-based paper manufacturers in India. The company’s consolidated net profit surged 150.7% to Rs 50.82 crore on 145.9% jump in net sales to Rs 459.28 crore in Q2 FY23 over Q2 FY22.
