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IDBI Capital Report
JK Paper Ltd.’s Q4 FY22 result was beat to our estimate on net sales front, while margins were tad below owing to high raw material prices.
Sharp increase in global pulp prices, higher raw material cost (coal, chemical, pulp, energy) in domestic market and healthy demand is supporting the price hike.
Net sales increased by 49.2% YoY to Rs 13,398 million, while Ebitda came in at Rs 3,360 million, up by 47.1% YoY.
Ebitda margin was marginally down by 30 basis points YoY to 25.1%. Net profit came in at Rs 1,702 million, up by 25.1% YoY.
The management guided that demand looks promising, particularly in packaging space.
JK Paper's newly added packaging board capacity and ramp up of Sirpur capacity will aid earnings growth in near term.
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