Satia Industries gets supply order of 7000 MT paper for Rs70cr from Maharashtra State textbook board

The order execution has commenced and is expected to be completed in Q2FY22.

Jun 25, 2021 02:06 IST India Infoline News Service

Satia Industries Limited (SIL) on Friday received an order from the Maharashtra State textbook board for the supply of 7000 MT paper. The order aggregates to Rs70cr and at a very good realization

The order execution has commenced and is expected to be completed in Q2FY22.

R. K. Bhandari, Joint Managing Director said, “We are pleased to announce that our sustained relation and consistency in delivering the best quality paper always has again fructified in securing this high realisation order of over 70 million which will improve our margin profile significantly. This order further adds to our existing strong order book with orders in hand till 15th August in these difficult times too. Thus we are progressing towards enhanced revenue levels and attractive margin profile for the next two quarters and expect this trend to continue for the rest of the year which will be supplemented by the start of cutlery segment in second quarter and our incremental capacity of 100,000 MT by end of December 2021.”

Notably, this order along with orders under execution from Rajasthan and Chhattisgarh textbook board will lead to a surge in per ton realization in paper prices almost at par with pre-Covid levels of Rs60,000 per ton registering an increase of 25-30% in the first half of the year.

At around 2.13 pm, Satia Industries was trading at Rs92.50 per piece down by 0.4% on Sensex. 

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