Latest news with #HarshPatiSinghania
Time of India
2 days ago
- Business
- Time of India
India-UK FTA a big step forward, will help businesses grow: JK Paper CMD Harsh Pati Singhania
New Delhi: Welcoming the India-UK Free Trade Agreement (FTA), Harsh Pati Singhania , Chairman and Managing Director of JK Paper , has said it is a big step forward for businesses and strengthens economic ties between the two countries. He said the deal will boost business growth, enhance confidence among Indian companies, and bring relief to Indian professionals working in the UK by addressing issues related to the social service tax. 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This will help our businesses grow and increase our confidence. Another significant thing is that the people who go to work in the UK for 2-3 years will not suffer anymore because of the social service tax. It is a very big step forward," Singhania said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Car Finance Between 2007–2020? You May Be Entitled to a Refund. Check Now. My Car Loan Claims Learn More Undo India and the United Kingdom took a big step last week in building a stronger economic partnership with the signing of the Comprehensive Economic and Trade Agreement ( CETA ). The agreement was signed by Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade, Jonathan Reynolds in the presence of the two Prime Minister Narendra Modi and his UK counterpart Keir Starmer Live Events The FTA marks a significant milestone in India's engagement with major developed economies and reflects a shared commitment to strengthening economic integration. As the world's fourth and sixth largest economies respectively, India and the UK's bilateral engagement holds global economic significance. The signing of the India-UK CETA follows the successful conclusion of negotiations announced on 6th May 2025. The bilateral trade between the two countries stand at nearly USD 56 billion, with a joint goal to double this figure by 2030. CETA secures unprecedented duty-free access for 99% of India's exports to the UK, covering nearly the entire trade basket. This is expected to open new opportunities for labour-intensive industries such as textiles, marine products, leather, footwear, sports goods, toys, and gems and jewellery, alongside fast-growing sectors like engineering goods, auto components, and organic chemicals. The services sector, a strong driver of India's economy, will also see wide-ranging benefits. The agreement provides greater market access in IT and IT-enabled services, financial and legal services, professional and educational services, and digital trade. Indian professionals, including those deployed by companies to work in UK across all services sectors, professionals deployed on contracts such as architects, engineers, chefs, yoga instructors, and musicians, will benefit from simplified visa procedures and liberalised entry categories, making it easier for talent to work in the UK. The two countries had in May announced the successful conclusion of a mutually beneficial FTA.
Business Standard
3 days ago
- Business
- Business Standard
JK Paper rises as Q1 PAT jumps 7% QoQ to Rs 81 cr
JK Paper rose 2.34% to Rs 359.35 after its consolidated net profit jumped 6.60% to Rs 81.23 crore in Q1 FY26, compared to Rs 76.20 crore posted in Q4 FY25. However, revenue from operations declined by 0.90% quarter-on-quarter (QoQ) to Rs 1,674.16 crore in the quarter ended 30 June 2025. On a year-on-year (YoY) basis, net profit fell 41.86%, while revenue from operations shed 2.30% in Q1 FY26. In Q1 FY26, profit before tax fell by 40.03% year-on-year to Rs 116 crore, as compared to the same quarter in FY25. Total expenses rose 2.19% year on year to Rs 1,583.23 crore in the quarter ended 30 June 2025. The cost of material consumed stood at Rs 149.58 (up 10.37%YoY), finance cost was at Rs 67.14 crore (up 88.64%) during the period under review. Revenue from paper and packaging segment declined 3.91% to Rs 1,641.82 crore in Q1 FY26 as against Rs 1,708.73 crore in Q1 FY25. Revenue from others segment jumped 192.13% to Rs 34.91 crore in Q1 FY26 from Rs 11.95 crore in Q1 FY25. Shri Harsh Pati Singhania, said, the companys core business in paper and paper Board continued to face headwinds from cheap imports resulting in depressed sales realization and ongoing high domestic wood prices. Despite this, JK Paper improved its profits on a sequential basis. The board of directors of JK Paper (JKPL) has approved the acquisition of a majority stake in Borkar Packaging Private (BPPL). Commenting on the acquisition, Shri Harsh Pati Singhania, chairman & managing director, said, The Packaging Conversion business is amongst the fastest growing segments in the Indian Paper and Packaging industry driven by growth in end use industries. The acquisition of BPPL is in line with the long term strategic objective of the Company and gives us an opportunity to offer combined solution to customers with respect to secondary and tertiary packaging. BPPLs customers, employees, vendors and partners will benefit from JK Papers strong knowledge of manufacturing and its high standards in operational excellence, financial management and corporate governance. With this acquisition, JKPL will further strengthen its top leadership position in the corrugated packaging segment and emerge amongst the top three players in the Folding Cartons space. BPPL is engaged in the manufacturing of packaging products such as folding cartons, corrugated boxes, and labels. The company operates seven plants across India and reported revenue of Rs 393.20 crore for the financial year 202324. Furthermore, the companys board approved the proposed issuance of redeemable non-convertible debentures (NCDs) of up to Rs 500 crore (Rupees five hundred crore only), in one or more tranches or series. The funds raised will be utilized for routine capital expenditure, long-term working capital requirements, and general corporate purposes, in compliance with applicable regulations and guidelines. JK Paper is the leading player in office papers, coated papers and Packaging boards. It is one of the most respected paper companies today.
News18
4 days ago
- Business
- News18
JK Paper Q1 falls 39 pc to Rs 86 cr, revenue slips 2.3 pc to Rs 1,674 cr
New Delhi, Jul 28 (PTI) JK Paper Ltd on Monday reported a decline of 39.32 per cent in its consolidated net profit to Rs 85.43 crore in the first quarter ended June 2025, on account of low sales realisation and high wood pulp prices. The company had posted a net profit of Rs 140.79 crore in the April-June quarter a year ago, according to a regulatory filing from JK Paper, maker of branded copier paper, coated paper and packaging boards. Its revenue from operations slipped 2.3 per cent to Rs 1,674.16 crore in the June quarter of FY26. The same stood at Rs 1,713.65 crore in the corresponding quarter of FY25. Total expenses of JK Paper were Rs 1,583.28 crore, up 2.2 per cent during the quarter. Its Chairman & Managing Director Harsh Pati Singhania said: 'The company's core business in Paper and Paper Board continued to face headwinds from cheap imports, resulting in depressed sales realisation and ongoing high domestic wood prices. Despite this, JK Paper improved its profits on a sequential basis." Meanwhile, in a separate filing, JK Paper informed that its board approved the acquisition of a majority stake in Borkar Packaging Pvt Ltd (BPPL). It will acquire a 72 per cent stake in BPPL by way of the acquisition of 65.7 per cent equity shares from existing shareholders and the balance by way of subscription to fresh equity shares in the company. 'Transaction is expected to be completed within 12 weeks of execution of a share purchase subscription and shareholders' agreement with the target entity and its promoters," it said. Shares of JK Paper Ltd settled at Rs 354 apiece on the BSE, down 5.27 per cent from its previous close. PTI KRH KRH SHW view comments First Published: July 28, 2025, 20:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
20-05-2025
- Business
- Business Standard
JK Paper drops as Q4 PAT tanks 72% YoY to Rs 76 cr; declares dividend of Rs 5/sh
JK Paper fell 1.43% to Rs 349.20 after its consolidated net profit tumbled 72.35% to Rs 76.20 crore in Q4 FY25 as against Rs 275.64 crore posted in same quarter last year. Revenue from operations shed 1.69% year on year (YoY) to Rs 1,689.50 crore in the quarter ended 31 March 2025. Profit before tax tanked 67.01% YoY to Rs 105.04 crore in Q4 FY25 over Q4 FY24. Total expenses rallied 10.41% year on year to Rs 1,609.42 crore in the quarter ended 31 March 2025. Employee benefits expense stood at Rs 149.58 (up 5.26%YoY), finance cost was at Rs 50.13 crore (up 44.80%) and cost of fuel consumed stood at Rs 1,069.85 crore (up 13.48% YoY) during the period under review. Revenue from paper and packaging segment declined 1.83% to Rs 1,670.61 crore in Q4 FY25 as against Rs 1,701.80 crore in Q4 FY24. Revenue from others segment tumbled 28.12% to Rs 23.74 crore in Q4 FY25 from Rs 33.03 crore in Q4 FY24. During the quarter under review, JK Paper acquired a 60% stake in the equity shares of Radhesham Wellpack (RWPL) on 3rd February 2025. Additionally, the company acquired 62.14% of the equity shares of Quadragen Vethealth (QVPL) on 25th March 2025. As a result, both RWPL and QVPL have now become subsidiaries of JK Paper. Commenting on the results, Shri Harsh Pati Singhania, chairman & managing director, said, Profits have been significantly impacted due to surge in imports at low prices and high wood cost. Despite adverse market scenario, the company achieved highest ever sale of 8.06 LMT during the year and maintained its leadership position across its product categories. Meanwhile, the board of directors of JK Paper has recommended a dividend of Rs 5 per share, amounting to Rs 84.70 crore, on the equity share capital for the financial year ended 31st March 2025. JK Paper is the market leader in Branded Copier Paper in India and amongst the top producers of Coated Paper and Packaging Products in the Country. The company is consistently following a policy of focusing on value added products like Copier, Bond, Security, Coated Papers, Virgin Fiber Packaging Boards, High-end Maplitho, Food Grade Papers, Boards, Corrugated Boxes, Mono Cartons and Labels.
Economic Times
20-05-2025
- Business
- Economic Times
JK Paper shares in focus after PAT drops 72% YoY to Rs 77 cr in Q4
JK Paper reported a 72.3% drop in Q4FY25 net profit to Rs 77.05 crore, hit by higher wood costs and cheap imports. Revenue dipped 1.7% to Rs 1,690 crore, while EBITDA fell 42%, with margins shrinking to 14.3%. Despite headwinds, the company posted record sales of 8.06 LMT and announced a Rs 5 per share dividend. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads JK Paper share price performance Shares of JK Paper are likely to be in focus on Tuesday following the release of its Q4FY25 earnings report, in which the company reported a sharp 72.3% decline in net profit, falling to Rs 77.05 crore from Rs 278.6 crore in to the earnings data, revenue from operations saw a marginal decline of 1.7%, with Q4FY25 revenue at Rs 1,690 crore, compared to Rs 1,719 crore in the same quarter last financial metrics also reflected pressure on margins. EBITDA stood at Rs 241.63 crore, down 42% from Rs 416.44 crore in Q4FY24. As a result, the EBITDA margin contracted by 993 basis points, falling from 24.2% to 14.3% board of directors has recommended a dividend of Rs 5 per share for shareholders.'Profits have been significantly impacted due to a surge in imports at low prices and high wood costs. Despite the adverse market scenario, the company achieved its highest-ever sales of 8.06 LMT during the year and maintained its leadership position across product categories,' said Harsh Pati Singhania, Chairman & Managing Director of JK the past year, shares of JK Paper have declined by 6.54%. On a year-to-date (YTD) basis, the fall stands at 18.15%, while the 6-month decline is 13.63%. However, the stock has shown a 20.33% surge over the past 3 months, and a 7.14% gain in the last month. JK Paper shares closed flat at Rs 354.25 on the BSE on Tuesday.
