ITC PSPD reported higher volumes in paperboards and higher cartons exports in the packaging business coupled with operating efficiencies.
June 1, 2021
ITC PSPD reported 13.5% YoY increase in paperboard, paper & packaging segment revenues for Q4 FY21 at INR 1656 crore compared to total segment revenues in FY20 at INR 1459 crore.
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Paperboards, paper & packaging segment continued its strong sequential recovery momentum with improvement in offtake across most end-user industries. Higher operational efficiencies partially mitigated the impact of softer realizations. The company witnessed robust growth in cartons and flexibles packaging.
As reported in the company’s financial result, the paperboards, paper and packaging segment was adversely impacted by subdued offtake in end-user segments such as publications, liquor and wedding cards; the robust growth in exports and strong demand in the pharma & décor segment helped partially mitigate the impact.
Also Read: JK Paper Reports Healthy Performance for FY2021.
A significant uptick in volumes and realizations in paperboards in the latter half of the year on the back of recovery in most end-user industries, relentless focus on operational efficiency and structural cost-saving interventions resulted in a much-improved performance. The mill also reported steady progress in the High-Pressure Recovery Boiler project despite Covid disruptions – pulp mill capacity expansion (import substitution), reduced Carbon footprint, operational efficiencies.