Satia Industries jumped 4.44% to Rs 136.75 after the company said it bagged multiple contracts of 17000 tons worth Rs 200 crore.
Satia Industries bagged three major contracts for supply of paper for printing textbooks from Bal Bharti, Pune, Maharashtra; Punjab School Education Board, Mohali, Punjab and UP.The order totals over 17,000 tons worth a value of almost Rs 200 crore for execution in the Q4FY23; this demonstrates buyers' trust in Satia company's potential to fulfil upcoming enhanced demand of writing and printing paper with New Education policy (NEP).
RK Bhandari, joint managing director of Satia Industries said, These multiple order wins are reflective of our long-standing association with important customers and thank them for their trust in the quality and commitment of Satia Industries to deliver high volumes, well in time - both being imperative for delivery of textbooks to the students before the new academic year. Orders from text-book boards also give revenue visibility to the company at attractive prices. Such orders command higher operating margins as compared to open market.
Satia Industries is one of the largest wood and agro-based paper manufacturers in India. The company's consolidated net profit surged 150.7% to Rs 50.82 crore on 145.9% jump in net sales to Rs 459.28 crore in Q2 FY23 over Q2 FY22.
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