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Paper consumption in India will likely reach 30 million tonnes by March 2027. There is growing demand from sectors such as FMCG and retail for innovative packaging solutions.
"The enhanced pulping capacity would help the company to replace the costlier purchased pulp and reduce the overall cost of manufacturing per tonne of paper in the unit at Tirunelveli and the Servalakshmi unit," Seshasayee Paper said in a regulatory filing.
The NCLT, Chennai Bench has approved the application filed by the liquidation for confirmation of sale of assets of Servalakshmi Paper Ltd to Seshasayee Paper and Boards Ltd.
The Board of Directors of Seshasayee Paper and Boards Limited, at its meeting held today have approved the financial results of the company for the period ended March 31, 2023 - Q4FY23 and FY2023.
Genus Paper & Boards Limited has made disinvestment of Kailash Waste Solutions Private Limited which was incorporated on March 09, 2022 as 100% Wholly Owned Subsidiary.