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Higher sales volume and improved NSR aided net sales growth Despite challenging business environment, JK Paper's sales volume was at 104,841MT, a growth of 32% YoY. The company reported NSR improvement of 7% YoY to Rs63,029/MT led by higher packaging board and coated paper prices. Sirpur plant has gained traction during Q1FY22 and it would reach at 100% capacity expansion by Q4FY22E or Q1FY23E. Packaging board unit will be operational in Q3FY21E and would have meaningful contribution to net sales in FY23E. Operating leverage and cost cutting led to robust EBITDA margin expansion...

JK Paper Ltd.'s Q4FY21 result was beat to our estimates on key parameters. The company reported another quarter of an all-round performance aided by higher volume as well as improved net sales realization. Net sales increased by 22.1% YoY to Rs8,982mn, while EBITDA came in at Rs2,284mn, up by 29.4% YoY. It reported net profit of Rs1,361mn, a healthy growth of 46.8% over Q4FY20. The management's prudent strategies on price hike and focus on increasing sales volume led to outperformance despite challenging business environment. The global softwood pulp prices are still holding up at ~USD800/MT mark, which gives us confidence that the domestic paper prices are bound to increase once...

JK Paper Ltd.'s Q3FY21 result was in-line with our estimates on net sales and EBITDA front, while higher than anticipated interest cost led net profit below our forecast. Net sales declined by 9.6% YoY to Rs7,423mn, while EBITDA came in at Rs1,552mn, down by 32.7% YoY. The company reported net profit of Rs646mn, lower by 51% over Q3FY21. The management attributed net sales decline to sharp degrowth in net sales realization (NSR) on account of subdued demand for PWP in Q3FY21. On a positive note, higher global pulp prices and demand revival in the domestic market from beginning of Q4FY21 has led to increase in NSR. Sirpur plant is now operational and should contribute to net sales in next...

JK Paper Ltd (JKP) reported PAT of INR 110 crore, up 41.4% from our estimate due to better-than-expected improvement in gross margin and lower other expenses.

JK Paper Ltd (JKP) reported PAT of INR 95 crore in Q1FY19, which came 44% ahead of our estimate mainly due to higher-than-expected sales volumes and lower energy cost.