JK Paper (JKPAPER) — concall transcript

📢 Key Event
JK Paper faces margin pressure from import dumping despite cost controls and targets 14-15% ROIC for growth.

🔄 What Changed
EBITDA margin declined year-on-year due to pricing pressure, though still above industry average; wood costs up 30-35%; import competition intensifying.

🔮 What's Next
Targeting 14-15% ROIC, double-digit growth in packaging and corrugated segments, and full utilization of Ludhiana plant by FY24 end.

💡 Investor Takeaway
Margin pressure from imports may persist, but long-term cost savings and capacity expansion could support recovery if pricing stabilizes.

JK Paper reported a challenging Q4 FY24 with EBITDA margin at 26% amid sharp pricing pressure in packaging and coated paper, despite cost corrections. Wood costs rose 30-35%, and import competition from Indonesia and China is dumping paper below rational pricing. Management expects ongoing margin pressure but targets 14-15% ROIC and double-digit growth in packaging and corrugated segments. The Ludhiana plant is commissioned, scaling to full utilization by FY24 end. Antidumping petitions against Indonesia, China, and Chile are pending. Capital allocation prioritizes 15% ROI projects, with Rs 240 crores CAPEX in FY24 and Rs 600 crores debt repayment. Dividends of Rs 135-140 crores are planned.

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About JK Paper Ltd (JKPAPER)

Forest Materials · Paper · Listed on BSE

Market Cap: ₹7,157.56 Cr P/E: 21.6 ROE: 5.9% ROCE: 8.0% Div Yield: 1.01%

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🔥 Also filed on 31 March 2024

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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