Satia Industries Limited has bagged an order worth INR 700 million from Maharashtra State Textbook Bureau for supplying 7,000 MT paper.

The wood and agro-based paper manufacturer said that the execution of the order has already commenced and will be completed in the second quarter of FY22.

Satia Industries said that the order along with others under execution from Rajasthan and Chhattisgarh text book board will result in an increase in per ton realization in paper prices almost at par with pre-Covid levels of INR 60,000 per ton. This will help the company register a surge of 25-30% in the first half of the year, said Satia Industries.

R. K. Bhandari – Joint Managing Director of Satia Industries 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.”

  Maharashtra, Maharashtra State Textbook Bureau, R. K. Bhandari, Satia Industries