JK Paper Ltd. — Earnings Release 2023

Feb 6, 2023

Deepak Digitally signed by Deepak Gupta Date: 2023.02.06 Gupta 17:51:41 +05'30'

Nehru House, 4 Bahadur Shah Zafar Marg, New Delhi-110002

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February 6,2023

Press Release: 3[rd] Quarter and Nine Months ended 31[st] Dec’22

Consolidated Turnover up by 59% and PAT by 119% over corresponding quarter

JK Paper Ltd. , one of India’s largest Paper & Packaging Board Companies, reported its results for the Third Quarter and Nine Months period ended December 31, 2022. The Company reported a Quarterly Consolidated Turnover of Rs.1,734.50 Crore (up 59% ), EBITDA of Rs.614.49 Crore (up 116% ) and Profit after Tax (PAT) of Rs.329.32 Crore ( up 119 %) for the quarter ended December’22 (Q3) compared to corresponding quarter of previous financial year. For the Nine Months period upto 31[st] December,2022, Consolidated Turnover was Rs. 4,965.18 Crore (up 76% ), EBITDA Rs. 1659.71 Crore (up 117% ) and Profit after Tax (PAT) Rs. 915.53 Crore ( up 146 %).

The Board of Directors have declared an Interim Dividend of Rs.4/- per equity share (40%) of Rs. 10/- each. The record date fixed for the purpose of determining the entitlement is 17[th] February 2023.

Commenting on the results, Shri Harsh Pati Singhania, Vice Chairman & Managing Director, said, “Higher capacity utilization and growth in sales volume across all segments helped the company to improve it’s market share and deliver better performance. While there has been a sharp increase in major input costs , higher realization from the market has helped in its mitigation.“

He added, “The Sirpur Paper Mills Ltd ., also contributed significantly to the Company’s overall profitable growth.”

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Regd.Office : P.O. Central Pulp Mills - 394660, Fort Songadh, Dist. Tapi (Gujarat), , Website : www.jkpaper.com, Corporate Identity Number : L21010GJ1960PLC018099

During the quarter the Company acquired 85% Equity Shares of Horizon Packs Private Ltd. (HPPL) and Securipax Packaging Private Ltd. (SPPL) and both these Companies have become Subsidiaries of JK Paper Ltd w.e.f.12[th] December, 2022.

CRISIL Ratings Limited in Dec,2022 has reaffirmed it’s rating of “ CRISIL AA/Stable ” postacquisition of HPPL and SPPL on the long term borrowing facilities of the Company.

India Ratings and Research (Ind-Ra) in Jan,2023 has upgraded its rating to “IND AA” from “IND AA-” for various funding facilities of the Company and reaffirmed its ‘IND A1+’ rating for Commercial Papers of the Company. For Sirpur Paper Mills , India Ratings and Research (IndRa) in Jan,2023 has also upgraded its rating to “IND AA-” from “IND A” for various funding facilities of the Company and upgraded to ‘IND A1+’ from “IND A1” rating for Short Term Facilities of the Company.

The Company has enhanced it’s social farm forestry initiative across all Plant locations to meet the future raw material needs at economical cost.

Unit JKPM, Odisha has been awarded with FICCI ‘s Sustainable Agriculture Award 2022, Odisha CSR Excellence Award 2022 by Odisha CSR Forum and IPMA Paper Mill of the Year Award 2021-22. Unit CPM, Gujarat also bagged Excellent position award under Paper Industry category in CII Supply Chain and Logistics Excellence Awards (SCALE Awards 2022) from CII Institute of Logistics during the current period.

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JK Paper Ltd. is the market leader in Branded Copier Paper in India and amongst the top producers of Coated Paper and Packaging Boards in the Country. The Company is consistently following a policy of focusing on value added products like Copier, Bond, Security, Coated Papers, Virgin Fibre Packaging Boards, High-end Maplitho, Food Grade Papers and Boards. We are a wood and carbon positive Company .

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For further information, contact: KR Veerappan, CFO, 011-68201510, E-mail: krveerappan@jkmail.com

Admin Office: Nehru House, 4 Bahadur Shah Zafar Marg, New Delhi-110002, Ph: 91-11-66001132, 66001112, Fax : 91-1123712680

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