Erode-based Seshasayee Paper and Boards Ltd.’s (SPB) standalone net revenue for the quarter ended March has more than doubled to ₹116 crore from the year-earlier interval due to elevated gross sales quantity.
During the quarter below evaluation, income from operations grew by 22% to ₹573 crore. Material prices elevated by 25% to ₹242 crore, whereas energy and finance prices rose to ₹71 crore from ₹54 crore, the corporate stated in a regulatory submitting.
The board declared a ultimate dividend of ₹6 per share to be paid by June 19.
On Saturday, the board, accorded in-principle approval to safe environmental clearances for the ₹700 crore Mill Development Plan-IV (MDP-IV) venture.
As per the plan, the enlargement would increase paper annual capability from 1,65,000 tonnes to 2,31,000 tonnes in Erode, and that of pulp capability (wooden and bagasse) by 72,000 tonnes to 2,52,000 tonnes in Tirunelveli.
The enhanced pulping capability would assist SPB in changing costlier bought pulp (imported pulp/ deinked pulp) and cut back the general value of producing per tonne of paper.
Phase-I of the venture is presently anticipated to be accomplished in about 30 months. The total venture value is predicted to be met out of its inner accruals, SPB stated.
