Century Pulp & Paper: demand is expected to increase by end of Q2, Sales increased by 49% in Q1 FY23

Century Pulp & Paper: demand is expected to increase by end of Q2, Sales increased by 49% in Q1 FY23

-Plant achieved overall capacity utilization of 97%.

Mumbai | 25 July 2022 | The Pulp and Paper Times

Century Pulp & Paper (CPP), India’s leading integrated pulp & paper company who provides comprehensive and innovative writing and printing paper, tissue, multi-layered packaging board and rayon grade pulp (RGP) products to a wide range of customers across the globe. CPP has registered remarkable growth in its Q1 FY 23 results. CPP reported sales increased by 49% to Rs. 857 Cr. in Q1 FY23 as compared to Rs. 577 Cr. in Q1 FY22. Sales realization has increased by 36% in Q1 FY23 as compared to same quarter of FY22. Substantial increase in EBITDA by 40% to Rs. 134 Cr. as compared to Rs. 96 Cr. in Q1 FY22.

Plant achieved overall capacity utilization of 97%. Production in Paper and Tissue segment has increased by 17% and 14% respectively as compared to Q1 FY22.

Commenting on the Q1 FY23 results, JC Laddha Managing Director, Century Textiles and Industries Limited (CTIL) said - ''The strong quarterly performance is on the back of high operational efficiency and improved market demand. The Pulp and Paper business has performed exceptionally well, especially with increased demand in the paper and tissue segment. The textiles business witnessed impressive growth, mainly supported by good demand for Apparel fabrics. The robust performance of the Real Estate business, on account of strong consumer confidence in the brand and improved demand in the ongoing residential upcycle, also aided the overall business performance in this quarter."

The statement issued by Century Textiles and Industries Limited (CTIL) said –“Writing & Printing paper (WPP) market is expected to perform better going ahead. For Board and Tissue segment, demand is expected to increase by end of Q2 on account of festivities. Considering present domestic and global economic scenario, short to medium term outlook for Indian Paper Industry appears to be optimistic. Single-use plastic ban implemented from Jul 1, 2022, has presented a good opportunity for the paper segment.”
 

Web Title: Century Pulp and Paper demand is expected to increase by end of Q2