Paper industry revenue may dip 8-10 per cent in FY24, says Crisil
The Indian paper industry had reported revenue growth of 30 per cent a year before in FY23. "Indian paper manufacturers could see revenue decline of 8-10 per cent this fiscal, compared with a steep 30 per cent growth last fiscal, with average realisations expected to soften in keeping with lower raw material prices, and given intense competition," it said.
Indian paper manufacturers are expected to experience a decline in revenue of 8-10% this fiscal year, compared to a growth of 30% last year, due to lower realizations and intense competition. However, volume is projected to increase by 5-7%. The packaging paper segment is the largest in India, followed by writing and printing paper. Crisil Ratings anticipates a 6-8% growth in packaging paper volume and a 3-5% growth in writing and printing paper volume.
Godrej and Boyce aim for larger market share in Godrej Interio biz
According to Godrej Interio Senior Vice President (B2C) Dev Sarkar, the company has planned to expand its retail presence by launching 10 exclusive showrooms and 180 retailers over the next three years.
Commerce ministry recommends anti-dumping duty on imports of Chinese glass for 5 years
The commerce ministry has recommended anti-dumping duty of up to $243 per tonne of import of Chinese glass used in home appliances with a view to guard domestic players from cheap inbound shipments from China. Post a probe, DGTR said that the product was exported to India at a price which is below the normal level and that has resulted in dumping which has impacted domestic makers.
Plastics exports decline 15 pc in July on lower demand: Plexconcil
The fibre-reinforced plastic and composites category displayed notable growth, expanding 7.6 per cent due to increased sales. Medical items made from plastic, too, saw a 6.2 per cent increase in exports, propelled by elevated sales of spectacle lenses and blood transfusion apparatus.
Saint Gobian investing Rs 8,000 cr in India to meet growth targets, aims 10% growth in FY24
"Saint-Gobain India is performing very well in India in terms of growth, profitability, expansion, sustainability, digital and people talent. All our businesses be it in building and construction or industrial solutions are performing well," Saint Gobian CEO of Asia Pacific and India region and Chairman, Saint-Gobain India, Santhanam told PTI.
Vipul Organics enters into into paper segment
"With so much excitement in the category, it was obvious that we had to seriously look at the paper business. We were gratified by client response and are already working with the leading players in the segment," Chairman and Managing Director Vipul P Shah said in a statement.
Paper and paperboard imports rise 39 per cent in Apr-Jun qtr
India's imports of paper and paperboard surged by 39 per cent at 409,000 tonnes in the first quarter of 2023-24 against 294,000 tonnes in the year-ago quarter, according to an industry body. In value terms, imports rose by 28 per cent to Rs 3,153 crore in the first quarter of FY2023-24 compared to the year-ago period.
Indian plastic market expected to reach Rs 10 lakh crore by fiscal 2027-28: AIPMA
India has the potential to emerge as a global plastic supplier and the domestic plastic market is expected to more than triple to reach Rs 10 lakh crore by 2027-28, officials said on Sunday. According to the All India Plastics Manufacturers' Association, the market size of plastics in India was Rs 3.5 lakh crore.
Paper industry cuts water usage by 80pc, invests Rs 25K cr in sustainable processes: IPMA
The paper industry in the country has cut down water consumption by 80 per cent and looks to reduce it further as investments of Rs 25,000 crore have been made in sustainable production processes in the last few years, an industry body said on Monday.
Sheela Foam to pick 94.66% in Kurlon for Rs 2,150 cr; 35% in Furlenco for Rs 300 cr
The acquisition will be funded by a mix of equity, internal accruals, and debt. Although Sheela Foam has a history of acquisition, this is the first time it has been announcing two acquisitions in one go. The acquisition of Kurl-on is expected to complete before November 2023 subject to regulatory clearance, while the Furlenco transaction is likely to complete by August 2023.
Board of Seshasayee Paper gives nod to secure environmental clearances to ramp up expansion
"The enhanced pulping capacity would help the company to replace the costlier purchased pulp and reduce the overall cost of manufacturing per tonne of paper in the unit at Tirunelveli and the Servalakshmi unit," Seshasayee Paper said in a regulatory filing.
Automation to drive higher growth rate for India's MDF industry -Greenpanel CFO
India's furniture industry will experience significant changes with the entry of organized domestic and international players and the adoption of automation, according to Vishwanathan Venkatramani, CFO of Greenpanel Industries. He highlighted that automation will drive the growth of the medium density fiberboard (MDF) sector, since it is produced in fully automated plants, unlike plywood, which is labor-intensive.
Recycling business can be a $20-billion opportunity: Avendus Capital
The world is now under more pressure to become sustainable than ever before, Avendus said in the report, titled ‘Circular Economy: Recycling Waste to Wealth’. Therefore, there is a need to immediately implement policies to ensure the conservation of natural resources, reduction of waste, and reduced fossil fuel use so that the rate of climate change can be positively altered, it added.
Sintex can easily do sales of Rs 1,000 crore in two-three years, says Welspun's BK Goenka
Welspun Group, which recently acquired Sintex-BAPL through the insolvency process, plans to reposition the company as India's leading water storage solutions provider, according to Chairman BK Goenka. The group will accomplish this with newer products and higher technology integration. Reviving the Sintex brand will enable the group to access the government's 'Nal Se Jal' scheme, a policy concerned with providing every household with tap water, and increase the use of B2C solutions. The group will present it as offering the entire product range via one channel and it aims to be leaders across the building material sector.