Paper & Paper Products company JK Paper announced Q4FY24 & FY24 results: JK Paper Ltd., one of lndia's largest Paper & Packaging Solutions Companies, recorded a Turnover of Rs 1,804.87 crore, EBITDA of Rs 416.44 crore and Profit after Tax (PAT) of Rs 275.64 crore on Consolidated basis for the Quarter ended March'24. For FY24, the Consolidated Turnover was Rs 7,000.26 crore, EBITDA Rs 1,842.86 crore and PAT Rs 1,121.77 crore. The Board of Directors has recommended a final Dividend of Rs.5/- per share (50%), on the Equity Share Capital for the financial year ended 31st March, 2024. This is in addition to lnterim Dividend of Rs 3.5/- (35%) per Equity Share declared and paid during the said financial year. Commenting on the results, Shri Harsh Pati Singhania,Chairman & Managing Director, said, 'Significant increase in raw material cost and lower realisation across all categories have impacted performance during the quarter and year as a whole. The selling prices continued to remain under pressure due to ancrease in imports. However sales volumes grew by 2.3% in Paper & Boards during the year and the Company continues to focus on operational efficiencies." Result PDF
JK Paper announced Q3FY24 & 9MFY24 results: Financial Performance Highlights: Consolidated Quarterly Turnover: JK Paper reported a turnover of Rs 1,781.65 crore for Q3FY24. EBITDA: The EBITDA for the quarter stood at Rs 428.34 crore. Profit After Tax (PAT): The company's PAT for the quarter was Rs 235.11 crore. Nine-Month Performance: For the nine months period ended December 2023, the company recorded consolidated turnover of Rs 5,195.39 crore, EBITDA of Rs 1,426.42 crore, and PAT of Rs 846.13 crore. Interim Dividend: An interim dividend of Rs 3.50 per equity share has been declared by the board, with a record date of February 16, 2024. Operational Highlights: Acquisitions: The acquisition of 100% Equity shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL), which has been renamed to JKPL Utility Packaging Solutions Private Limited, was completed, making it a wholly owned subsidiary as of November 21, 2023. Plantation Activities: The focus on plantation activities remains strong, with 10.29 crore saplings planted till December 2023 in the current financial year. Credit Ratings: CRISIL Ratings: CRISIL Ratings Limited reaffirmed its "AA/Stable" rating for various funding facilities of the company in November 2023. India Ratings and Research: In January 2024, India Ratings and Research (Ind-Ra) reaffirmed the "AA/Stable" rating for the company's funding facilities and reaffirmed 'IND A1+' rating for commercial papers. Shri Harsh Pati Singhania, Vice Chairman & Managing Director, shared his insights on the quarter's performance: "The results have been impacted due to overall drop in sales realisation and substantial increase in wood cost. The selling prices have been under pressure for some time due to rising trend in imports coupled with weaker demand scenario." He added, “pursuant to approval of the Board of Directors at its meeting held on 16th October 2023, the Company has acquired 100% Equity shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL) as per terms of Share Purchase Agreement. Post this, MUPSPL has become wholly owned subsidiary of the Company w.e.f. 21st November 2023. Subsequently, name of MUPSPL has been changed to JKPL Utility Packaging Solutions Private Limited. The Company continued its focus on plantation activities to procure adequate raw materials by planting a total of 10.29 crore saplings till December 2023 in the current financial year.” Result PDF