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Seshasayee Paper and Boards Limited (SESHAPAPER)

₹218.45 +0.99% last close, 16 Oct

📊 NSE: SESHAPAPER 🏢 Paper 📢 Latest filing: 05 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 24 Oct 2026 (board meeting)

Seshasayee Paper and Boards Limited's board meets on 24 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Seshasayee Paper's revenue was ₹492 Cr (+27.7% year on year, -16.9% on the previous quarter); the operating margin was 8.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹492	+27.7%	-16.9%
Operating profit	₹43.9	+106.1%	+86.1%
Operating margin	8.9%	—	—

Full quarterly financials → Results calendar →

SESHAPAPER delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 52.51% of the SESHAPAPER shares traded on NSE were taken to delivery, against the stock's own 20-session average of 61.16%. That is close to its usual level. Turnover was only ₹46 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal. 2 bulk or block deals were reported in SESHAPAPER in the last 60 days: ₹7 Cr bought and ₹9 Cr sold.

52.51%Delivery, 16 Oct

61.16%Own 20-session average

0.2×Volume vs its average

₹218.45NSE close · +0.99%

Delivery in the last 5 sessions: 79.4% · 48.9% · 48.1% · 55.6% · 52.5%

Date	Side	Counterparty	Value	Price	Quantity	Type
12 Oct	Sell	Atyant Capital India Fund I	₹9.43 Cr	₹222.85	423,312	Bulk
12 Oct	Buy	Madanlal Jawanmalji Jain	₹7.21 Cr	₹222.69	323,960	Bulk

Delivery across the market →All bulk and block deals →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Seshasayee Paper Submits Compliance Certificate Under Regulation 74(5) for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 05 Oct 2026, 11:39 AM

Seshasayee Paper and Boards Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ended September 30, 2026. The certificate was issued by the company's Registrar and Share Transfer Agent, Integrated Registry Management Services Private Limited, on October 3, 2026. It confirms that share certificates received for dematerialisation were processed, confirmed to depositories, and mutilated within the mandated 15-day timeline. This filing represents standard quarterly regulatory compliance and carries no financial or operational impact.

Compliance certificate submitted for the quarter ended September 30, 2026
Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
RTA confirmed dematerialisation verification and mutilation within the stipulated 15 days
RTA confirmation issued on October 3, 2026 and filed with exchanges on October 5, 2026

💡 This is a routine administrative filing requiring no action; investors should instead track the upcoming Q2 FY27 quarterly financial earnings release.

SESHAPAPER Shareholders Approve Nominee Director Appointment with 99.95% Majority

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Sep 2026, 04:57 PM

Seshasayee Paper and Boards Limited declared the results of its Postal Ballot on September 04, 2026. Shareholders approved the appointment of Sri R.J. Ramesh as a Nominee Director (nominated by Tamilnadu Industrial Investment Corporation Limited) by an ordinary resolution. The resolution received overwhelming support with 99.95% votes cast in favor (31,323,656 votes). Remote e-voting was conducted between August 05, 2026, and September 03, 2026.

Resolution passed for appointment of Sri R.J. Ramesh (DIN: 11821767) as a Nominee Director, not liable to retire by rotation.
Nomination was made by Tamilnadu Industrial Investment Corporation Limited (TIIC).
Approval secured with 99.95% votes in favor across 31,323,656 cast votes.
Voting period ran from August 05, 2026 (9:00 AM) to September 03, 2026 (5:00 PM).

💡 This is a routine governance update; investors should track core operational drivers including the recommencement of Unit-III (Servalakshmi Paper) and upcoming quarterly financial results.

Seshasayee Paper Appoints R J Ramesh as Nominee Director Effective Sept 4, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Sep 2026, 01:11 PM

Seshasayee Paper and Boards Limited announced that shareholders approved the appointment of Sri R.J. Ramesh (DIN: 11821767) as a Nominee Director via postal ballot on September 04, 2026. The 58-year-old appointee will hold the position as a director not liable to retire by rotation. This is a routine board composition update and does not have an immediate financial or operational impact on the company (TTM revenue of ₹1,817 crore).

Shareholder approval received via postal ballot on September 04, 2026
Sri R.J. Ramesh (Age 58, DOB: 19.08.1967) appointed as Nominee Director
Appointment is not liable to retire by rotation
Director confirmed not debarred by SEBI or any other authority

💡 Track subsequent quarterly financial performance and progress on the refurbishment and revival of Unit-III (Servalakshmi Paper) capacity.

SESHAPAPER Approves Appointment of Sri R.J. Ramesh as Nominee Director with 99.95% Majority

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Sep 2026, 01:06 PM

Seshasayee Paper and Boards Limited has announced the results of its postal ballot conducted via remote e-voting from August 5, 2026, to September 3, 2026. The ordinary resolution for the appointment of Sri R.J. Ramesh as a Nominee Director (not liable to retire by rotation) was passed with an overwhelming 99.95% majority. A total of 3,13,38,911 votes were cast, representing 49.69% of the company's total outstanding shares. Institutional participation accounted for 6,92,123 votes with 98.61% in favour, while 100% of promoter votes supported the resolution.

Resolution passed with 99.95% approval (3,13,23,656 votes in favour vs 15,255 votes against)
Overall voter turnout stood at 49.69% (3,13,38,911 votes polled out of 6,30,68,140 total shares)
100% of promoter shares (2,73,11,443 votes) voted in favour of the appointment
Public non-institutional turnout was 17.81% (33,35,345 votes), voting 99.83% in favour

💡 Track subsequent board committee appointments and broader operational updates regarding Unit-III refurbishment in upcoming quarterly filings.

Seshasayee Paper Shareholders Approve Nominee Director Appointment with 99.95% Majority

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Sep 2026, 01:05 PM

Seshasayee Paper and Boards Limited announced the completion and results of its Postal Ballot conducted between August 5, 2026, and September 3, 2026. Shareholders approved an ordinary resolution for the appointment of Sri R.J. Ramesh as a Nominee Director, not liable to retire by rotation. Out of 31,338,911 total votes polled (representing 49.69% of outstanding shares), 99.951% (31,323,656 votes) were cast in favor and 0.049% (15,255 votes) against.

Appointment of Sri R.J. Ramesh as Nominee Director approved with 99.951% of votes cast in favor.
Total voter turnout represented 31,338,911 votes or 49.691% of the 63,068,140 total outstanding shares.
Promoter and Promoter Group polled 100% of their 27,311,443 shares entirely in favor.
Public institutional shareholders cast 682,510 votes in favor and 9,613 votes against.

💡 Track operational progress on the refurbishment and recommencement of Unit-III (Servalakshmi Paper) and upcoming quarterly financial performance.

SESHAPAPER Seeks Shareholder Approval for TIIC Nominee Director Appointment

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Aug 2026, 12:47 PM

Seshasayee Paper and Boards has initiated a postal ballot to appoint Sri R.J. Ramesh as a Nominee Director representing the Tamilnadu Industrial Investment Corporation Limited (TIIC). The voting period is scheduled from August 5 to September 3, 2026, following his initial appointment as an Additional Director on July 25, 2026. This is a standard regulatory requirement to formalize institutional representation on the board. Results will be declared on September 4, 2026.

Nomination of Sri R.J. Ramesh by TIIC as a Non-Executive Nominee Director
Cut-off date for voting eligibility set as July 31, 2026
30-day e-voting window from August 5, 2026, to September 3, 2026
Final results to be announced on September 4, 2026, at 11:00 AM

💡 Monitor the voting results on September 4, 2026, to confirm the board composition. This is a standard governance procedure for companies with institutional nominees.

106% YoY Profit Growth: SESHAPAPER Reports Q1 FY27 Results with Rs 492 Cr Revenue

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 25 Jul 2026, 03:22 PM

Seshasayee Paper (SESHAPAPER) reported a strong YoY performance for Q1 FY27, with consolidated net profit doubling to Rs 31.91 Cr from Rs 15.43 Cr in the year-ago period. Revenue grew 27.7% YoY to Rs 492.08 Cr, though it declined 16.8% sequentially from Q4 FY26. The company is debt-free and is currently refurbishing its newly acquired Unit-III (Servalakshmi Paper) to drive future capacity. Despite a high material cost environment (64% of revenue), the company achieved a significant bottom-line expansion.

Consolidated Net Profit increased 106.8% YoY to Rs 31.91 Cr in Q1 FY27
Revenue from operations rose 27.7% YoY to Rs 492.08 Cr
Consolidated EPS improved to Rs 5.30 from Rs 2.56 in the same quarter last year
Cost of materials consumed stood at Rs 315.72 Cr, accounting for 64.1% of revenue
Revival and refurbishment of Unit-III (Servalakshmi Paper) assets are currently in progress

💡 Investors should monitor the final NCLAT order regarding the remaining appeal on the Servalakshmi Paper acquisition and the specific timeline for the commencement of operations at Unit-III.

Seshasayee Paper Appoints R J Ramesh as Nominee Director Effective July 25, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 25 Jul 2026, 02:08 PM

Seshasayee Paper and Boards Limited has appointed Mr. R J Ramesh as an Additional Director (Nominee Director) effective July 25, 2026. He represents the Tamilnadu Industrial Investment Corporation Limited (TIIC) and replaces Sri Kumar Jayant, IAS. The company will seek shareholder approval for this appointment through a postal ballot process. This is a routine administrative change in the board composition for the Rs 1431 Cr market cap company.

Appointment of Mr. R J Ramesh, aged 58 years, as a Nominee Director effective July 25, 2026
Mr. Ramesh replaces Sri Kumar Jayant, IAS, as the representative of Tamilnadu Industrial Investment Corporation Limited (TIIC)
The Board has approved a Postal Ballot Notice to seek shareholder approval for the appointment via an Ordinary Resolution
The appointee is a B.E. and MBA, currently serving as Deputy General Manager at TIIC

💡 Investors should treat this as a routine administrative update. No immediate action is required, though shareholders should review the upcoming postal ballot notice for formal voting.

107% YoY PAT Growth in Q1 FY27; Revenue up 28% to Rs 492 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 25 Jul 2026, 01:59 PM

Seshasayee Paper (SESHAPAPER) reported a strong performance for Q1 FY27, with consolidated revenue rising 27.7% YoY to Rs 492.08 Cr. Net profit more than doubled to Rs 31.91 Cr from Rs 15.43 Cr in the year-ago period, driven by improved operational efficiencies. Standalone profit before tax nearly doubled to Rs 45.10 Cr, while finance costs were reduced by over 60% to Rs 0.41 Cr. The company is actively working on the revival of the acquired Servalakshmi Paper assets, which will provide future capacity expansion.

Consolidated Net Profit surged 106.8% YoY to Rs 31.91 Cr in Q1 FY27
Revenue from operations grew 27.7% YoY to Rs 492.08 Cr, representing 28.8% of TTM revenue
Standalone EPS increased to Rs 5.58 from Rs 2.83 in the corresponding quarter last year
Finance costs decreased to Rs 0.41 Cr from Rs 1.07 Cr YoY, reflecting a debt-free or low-leverage status
Cost of materials consumed stood at Rs 315.72 Cr compared to Rs 286.10 Cr in Q1 FY26

💡 Monitor the legal resolution of the final pending appeal at NCLAT regarding the Servalakshmi Paper acquisition and the subsequent timeline for its refurbishment.

Seshasayee Paper confirms compliance with SEBI Depository Regulations for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 11:04 AM

Seshasayee Paper and Boards Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that for the quarter ended June 30, 2026, all physical share certificates received for dematerialization were processed, mutilated, and cancelled. The Registrar and Share Transfer Agent (RTA), Integrated Registry Management Services, confirmed that the depository's name was substituted in the register of members within the mandated 15-day period. This is a standard administrative filing with no impact on the company's financial performance or operations.

Compliance certificate issued for the quarter ended June 30, 2026
Dematerialization requests processed and confirmed within 15 days
Physical certificates mutilated and cancelled after due verification by the RTA
Confirmation provided by Integrated Registry Management Services Private Limited

💡 This is a routine regulatory filing. Investors should focus on upcoming quarterly financial results for fundamental performance indicators.

Seshasayee Paper to Close Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Jun 2026, 12:16 PM

Seshasayee Paper and Boards Limited has announced the closure of its trading window for designated persons starting July 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming un-audited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared to the stock exchanges. This is a standard regulatory procedure followed by listed companies to prevent insider trading ahead of financial disclosures.

Trading window closure effective from July 1, 2026, for all designated persons.
Closure pertains to the declaration of un-audited financial results for the quarter ended June 30, 2026.
The window will reopen 48 hours after the financial results are made public.
Compliance is based on SEBI (Prohibition of Insider Trading) Regulations, 2015 and exchange circulars dated April 2, 2019.

💡 No action is required as this is a routine regulatory filing. Investors should look out for the upcoming Q1 FY27 earnings announcement to assess the company's performance.

Seshasayee Paper Shareholders Approve Dividend and Key Re-appointments at 66th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 20 Jun 2026, 05:24 PM

Seshasayee Paper and Boards Limited successfully concluded its 66th Annual General Meeting on June 20, 2026, with all five proposed resolutions passed by an overwhelming majority. Shareholders approved the audited financial statements for FY 2025-26 and the declaration of a dividend, with over 99.99% of votes in favor. Key management re-appointments, including Sri Ganesh Balakrishna Bhadti and Sri S. Srinivas, were also confirmed. Approximately 49.5% of the total share capital participated in the voting process.

Dividend declaration approved with 31,224,710 votes in favor (99.99%)
Re-appointment of two retiring directors confirmed with over 99.93% shareholder support
Adoption of FY26 Audited Financial Statements passed with 99.99% majority
A total of 605 shareholders attended the meeting through video conferencing

💡 The meeting results confirm management continuity and the formalization of dividend payouts. No immediate action is required as these are routine corporate governance approvals.

Seshasayee Paper Shareholders Approve Dividend and Director Re-appointments at 66th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 20 Jun 2026, 05:17 PM

Seshasayee Paper and Boards Limited successfully conducted its 66th Annual General Meeting on June 20, 2026, via video conferencing. Shareholders approved all five proposed resolutions with overwhelming majorities, including the adoption of FY26 financial statements and the declaration of a dividend. Key management re-appointments for Sri Ganesh Balakrishna Bhadti and Sri S. Srinivas were also confirmed. Approximately 49.5% of the total shareholding participated in the voting process, showing strong alignment between the board and shareholders.

Shareholders approved the adoption of audited financial statements for FY 2025-26 with 99.997% votes in favor.
The resolution for the declaration of dividend was passed with near-unanimous support of 99.9997%.
Re-appointment of Executive Director Ganesh Balakrishna Bhadti and Director (Finance) S. Srinivas approved with 99.932% support.
A total of 3,12,24,810 votes were polled for the dividend resolution, representing 49.51% of the total shares held.
The meeting saw participation from 605 shareholders via video conferencing out of 23,033 total eligible members.

💡 No immediate action is required as the meeting outcomes were routine and positive; investors should monitor their accounts for the upcoming dividend credit.

SESHAPAPER Shareholders Approve Dividend and Director Re-appointments at 66th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 20 Jun 2026, 05:13 PM

Seshasayee Paper and Boards Limited (SESHAPAPER) concluded its 66th Annual General Meeting on June 20, 2026, with shareholders approving all five proposed resolutions with overwhelming majorities. Key approvals included the adoption of FY 2025-26 financial statements and the declaration of a dividend, both receiving over 99.99% favorable votes. The re-appointment of directors Sri Ganesh Balakrishna Bhadti and Sri S. Srinivas was also confirmed with 99.93% support. Total voting participation represented approximately 49.51% of the company's total equity base.

All five resolutions passed with over 99.9% majority, indicating strong shareholder support for current management.
The dividend declaration resolution received 31,224,710 votes in favor, representing 99.99% of the total votes polled.
Re-appointment of Sri Ganesh Balakrishna Bhadti and Sri S. Srinivas as directors was approved with 31,203,496 votes in favor.
Total voting turnout was 49.51% of the 63,068,140 outstanding shares.
The meeting was attended by 605 shareholders via video conferencing, including 9 from the promoter group and 596 from the public.

💡 Investors should note the successful passing of all routine business and dividend approvals, which ensures management continuity and confirmed payouts. No immediate portfolio changes are required based on these results.

Seshasayee Paper to Hold 66th AGM on June 20, 2026; FY26 Annual Report Released

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 May 2026, 12:14 PM

Seshasayee Paper and Boards Limited has scheduled its 66th Annual General Meeting for June 20, 2026, to be conducted via video conferencing. The company has released its Annual Report for the financial year 2025-26, which includes standalone and consolidated financial statements. Electronic dispatch of the notice and report to registered shareholders was completed on May 26, 2026. Shareholders without registered emails have been sent a physical letter providing the web-link to access the full report online.

66th Annual General Meeting scheduled for Saturday, June 20, 2026, at 11:00 AM.
Annual Report for FY 2025-26 released, including standalone and consolidated financial statements.
Electronic dispatch of AGM notice and report completed on May 26, 2026.
Compliance with SEBI Regulation 36(1)(b) regarding communication to non-registered email holders.

💡 Investors should download and review the FY 2025-26 Annual Report from the company website to analyze full-year financial performance. Ensure your email address is registered with the DP or RTA to receive e-voting credentials for the upcoming AGM.

View All SESHAPAPER Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Paper is the only reportable segment. Standalone revenue from operations for H1 FY26 (ended September 30, 2025) was INR 731.58 Cr, representing a 10.84% decline compared to INR 820.56 Cr in H1 FY25. Consolidated revenue for H1 FY26 was INR 731.72 Cr, down 10.84% from INR 820.70 Cr YoY.

Geographic Revenue Split

Domestic sales grew 4.8% in volume terms for Unit-Erode, while export volumes saw a significant drop, particularly to the US market where exports were suspended from June 2025 to September 2025 due to steep tariffs. Export tonnage for H1 FY26 was 2,333 tonnes compared to 14,062 tonnes in H1 FY25, a decline of 83.4%.

Profitability Margins

Net Profit After Tax (Standalone) for H1 FY26 was INR 34.66 Cr, a 45.09% decrease from INR 63.12 Cr in H1 FY25. Net profit margins were severely impacted by a drop in average realizations per tonne of paper and elevated input costs.

EBITDA Margin

EBITDA margin experienced a steep decline from 19.07% in FY24 to 6.88% in 9M FY25. This compression is attributed to lower realizations caused by cheap imports from China and ASEAN countries and a drastic increase in raw material prices.

Capital Expenditure

The company spent INR 28.33 Cr on the purchase of Property, Plant, and Equipment in H1 FY26. Additionally, the company is planning to incur INR 100 Cr for the repair, refurbishment, and upgradation of the newly acquired Unit-III (Servalakshmi Paper assets).

Credit Rating & Borrowing

CRISIL has assigned a rating of 'CRISIL AA-/Negative' for long-term facilities and 'CRISIL A1+' for short-term facilities. The negative outlook reflects pressure on profitability. The company maintains a strong capital structure with total outside liabilities to adjusted networth at 0.26 times as of March 31, 2024.

⚙️ Operational Drivers

Raw Materials

Key raw materials include wood pulp and wood. Wood pulp prices have been highly volatile, and the company faces continued scarcity in wood availability, leading to price hikes that cannot be fully passed on to customers.

Import Sources

Not specifically disclosed, but the company is impacted by cheap finished paper imports from China and ASEAN countries which compete with its domestic production.

Capacity Expansion

Current capacity utilization for Unit-Erode is 103%, while Unit-Tirunelveli operated at 76% in H1 FY26. Planned expansion includes the revival of Unit-III (Servalakshmi Paper), which was acquired as a going concern through an e-auction.

Raw Material Costs

Raw material prices increased drastically in FY25, contributing to the EBITDA margin drop to 6.88%. The company uses strategic initiatives like tree farming and contract farming to mitigate wood supply risks.

Manufacturing Efficiency

Unit-Erode shows high efficiency with 103% capacity utilization. Unit-Tirunelveli's efficiency was hampered by external trade factors, dropping to 76% utilization.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth will be driven by the refurbishment and recommencement of operations at Unit-III (Servalakshmi Paper), which is expected to add significant capacity. The company is also focusing on the Writing and Printing Paper (WPP) segment, which is supported by demand from the New Education Policy and increased 'work from office' trends.

Products & Services

Writing and Printing Paper (WPP), copier paper, and other printing grades.

Brand Portfolio

Seshasayee Paper and Boards (SPBL).

New Products/Services

Not specifically disclosed, though the company is focusing on high-demand WPP grades for the education sector.

Market Expansion

The company is focusing on domestic market growth (4.8% volume growth in Erode unit) to offset the 83.4% drop in export volumes caused by US tariffs.

Market Share & Ranking

The company was ranked 1087th on NSE and 1113th on BSE by average market capitalization during H2 2024.

Strategic Alliances

The company entered into a Share Purchase Agreement and Energy Supply Agreement with the Indian subsidiary of Zelestra Corporacion S.A.U. for renewable energy.

🌍 External Factors

Industry Trends

The paper industry is inherently cyclical with long gestation periods for capacity. Current trends show a shift toward green energy and sustainable wood sourcing (tree farming) to combat raw material volatility.

Competitive Landscape

Faces intense competition from low-cost imports from China/ASEAN and domestic mills aggressively liquidating stock at low prices.

Competitive Moat

Moat is built on integrated operations, extensive promoter experience (5 decades), and a strong financial profile with nil net debt. Sustainability is supported by voluntary ESG compliance (BRSR).

Macro Economic Sensitivity

Highly sensitive to global pulp prices and domestic education spending. The New Education Policy is a key macro driver for WPP demand.

Consumer Behavior

Increased demand for WPP due to the rollout of the New Education Policy and a return to physical offices.

Geopolitical Risks

Significant risk from trade barriers; US tariffs imposed in June 2025 led to a suspension of exports to that region, impacting the Tirunelveli unit's utilization.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to environmental clearances from the EAC of MoEF & CC. The company is also navigating the legal complexities of the Insolvency and Bankruptcy Code regarding its Unit-III acquisition.

Environmental Compliance

The company is voluntarily complying with Business Responsibility and Sustainability Reporting (BRSR) for FY25. It is also seeking MoEF & CC approval for expansion projects.

Taxation Policy Impact

Income tax paid in H1 FY26 was INR 14.27 Cr. Deferred tax liabilities stand at INR 129.25 Cr.

Legal Contingencies

The e-auction sale of Servalakshmi Paper Limited (Unit-III) for approximately INR 100 Cr is being challenged in the National Company Law Appellate Tribunal (NCLAT) by several appellants.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the volatility of wood pulp prices and the outcome of the NCLAT appeals regarding the Unit-III acquisition, which could impact expansion timelines.