Rainbow Papers Limited, listed on BSE and NSE, announces the inclusion of its Equity Shares in the “BSE Small-Cap” Index with effect from July 12, 2010. One of the leading paper manufacturing companies in India using the eco-friendly process of recycling of waste paper, the company has a market capitalization of over Rs. 380 crores.
As a part of its guidance issued recently, Rainbow Papers has forecast sales of Rs. 493 Crores, an expected growth of 73.59% and EBITDA of 125 Crores, indicating a growth of 83.66% for FY 2010-11.
Rainbow papers concluded expansion of commissioning PM 7 (Paper Mill 7) in the FY 2009-10 and is further enhancing capacities by installing PM 8, a 350 TCD paper plant, at its existing location. The new plant would come into production by the last quarter of 2010-2011.
The company’s shares today closed at Rs. 222.70, with a surge of Rs. 8.40.
About RAINBOW PAPERS:
Rainbow Papers today is one of the fastest growing corporations in the Indian paper industry. The Company is currently exporting its products to various countries in the US, Middle East, South Africa, South East Asia and U.K. Rainbow papers Ltd. makes a wide range of world class products from Duplex to File Board, from writing paper to Art Card and from packaging and Electric grade crepe to Decorative tissues crepe, which has given us a good recognition amongst our users who thirst for better and new products.
Disclaimer: Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.