Latest news with #BorkarPackaging
Yahoo
29-07-2025
- Business
- Yahoo
JK Paper to acquire Borkar Packaging amid profit decline
Indian paper and packaging board manufacturer JK Paper has reported a continuous decline in profit for the eighth consecutive quarter. The company's consolidated net profit for the quarter ending 30 June saw a nearly 42% year-on-year drop to Rs812.3m ($9.3m). It reported gross revenues from operations of Rs14.71bn. The company also disclosed its strategic move to acquire a 72% stake in Borkar Packaging for Rs2.35bn. This acquisition comes at a time when domestic paper manufacturers, including JK Paper, are grappling with the dual challenge of escalating wood costs and competition from lower-priced imports. JK Paper said: 'Lower volume and sales realisation due to cheap imports with continued high wood cost have adversely impacted performance. Sirpur Paper Mills also had annual planned shut during the quarter.' The company's net revenue from operations also witnessed a slight decline of 2.3% to Rs16.74bn while raw material costs surged by 9.2%, reported Reuters. In response to the country's industry's concerns, India has initiated antidumping investigations into imports of paperboard from countries such as Indonesia, Chile, and China. These imports have reportedly been affecting the local market, where paperboard is a crucial material for packaging consumer goods, pharmaceuticals, and electronics. JK Paper's acquisition of Borkar Packaging is a strategic move to strengthen its position in the packaging sector. Borkar, which counts major consumer conglomerates such as Unilever and Nestlé among its clients, operates factories in eight locations across India. With this acquisition, JK Paper aims to become one of the top three players in the folding cartons segment of the packaging industry. "JK Paper to acquire Borkar Packaging amid profit decline" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Recorder
28-07-2025
- Business
- Business Recorder
India's JK Paper reports decline in first-quarter profit on higher costs
Indian paper and packaging board maker JK Paper reported an eighth straight quarter of a decline in profit on Monday and said it would acquire a 72% stake in private peer Borkar Packaging for 2.35 billion rupees. Domestic paper manufacturers have been facing a double whammy of higher wood prices — a key raw material — and lower-priced imports in recent quarters. JK Paper's consolidated net profit fell nearly 42% year-on-year to 812.3 million rupees ($9.4 million) for the quarter ended June 30. The core business 'continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices', said Managing Director Harsh Singhania. Net revenue from operations declined 2.3% to 16.74 billion rupees, while raw material costs rose 9.2%. EU-sanctioned Indian refiner Nayara takes Microsoft to court over outage Following appeals from the industry, India launched anti-dumping probes into imports of paperboard — used in packaging of products such as consumer goods, pharmaceuticals and electronics — from Indonesia, Chile and China. Separately, JK Paper said the acquisition of Borkar — which supplies to consumer conglomerates such as Unilever and Nestle — will help it emerge among the top three players in the folding cartons segment of packaging. Borkar has factories in eight locations across India.
Reuters
28-07-2025
- Business
- Reuters
India's JK Paper reports decline in first-quarter profit on higher costs
July 28 (Reuters) - Indian paper and packaging board maker JK Paper ( opens new tab reported an eighth straight quarter of a decline in profit on Monday and said it would acquire a 72% stake in private peer Borkar Packaging for 2.35 billion rupees. Domestic paper manufacturers have been facing a double whammy of higher wood prices — a key raw material — and lower-priced imports in recent quarters. JK Paper's consolidated net profit fell nearly 42% year-on-year to 812.3 million rupees ($9.4 million) for the quarter ended June 30. The core business "continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices", said Managing Director Harsh Singhania. Net revenue from operations declined 2.3% to 16.74 billion rupees, while raw material costs rose 9.2%. Following appeals from the industry, India launched, opens new tab anti-dumping probes into imports of paperboard — used in packaging of products such as consumer goods, pharmaceuticals and electronics — from Indonesia, Chile and China. Separately, JK Paper said the acquisition of Borkar — which supplies to consumer conglomerates such as Unilever and Nestle — will help it emerge among the top three players in the folding cartons segment of packaging. Borkar has factories in eight locations across India. ($1 = 86.6830 Indian rupees)
