Satia Industries Limited successfully procured order from Maharashtra State Textbook Bureau to the tune of 7000 MT aggregating 600 million appx

Satia Industries Limited (SIL), one of the largest Wood and Agro-based paper manufacturers in India with a fully integrated manufacturing facility, has received an order from Maharashtra State textbook board for the supply of 7000 MT paper.

Satia Industries Limited has been awarded an order worth Rs 700 million from Maharashtra state textbook bureau for supply of 7000 MT paper at a very good realization. The said order execution has already started and will be completed in Q2FY22.

This order along with orders under execution from Rajasthan and Chhattisgarh text book board will lead to surge in per ton realization in paper prices almost at par with pre-Covid levels of ₹60,000 per ton registering an increase of 25-30% in first half of the year.

Commenting on the order received, Mr. R. K. Bhandari, Joint Managing Director said, "We are pleased to announce that our sustained relation and consistency in delivering the best quality paper always has again fructified in securing this high realisation order of over 70 million which will improve our margin profile significantly. This order further adds to our existing strong order book with orders in hand till 15th August in these difficult times too. Thus we are progressing towards enhanced revenue levels and attractive margin profile for the next two quarters and expect this trend to continue for the rest of the year which will be supplemented by start of cutlery segment in second quarter and our incremental capacity of 100,000 MT by end of December 2021."

Shares of Satia Industries Ltd was last trading in BSE at Rs.92.55 as compared to the previous close of Rs. 89.85. The total number of shares traded during the day was 69476 in over 1689 trades.

The stock hit an intraday high of Rs. 97.6 and intraday low of 91.75. The net turnover during the day was Rs. 6536806.

Source : Equity Bulls

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