TNPL double their net, to invest Rs 1,200 cr in packaging board unit
In a series of positive developments, Chennai-based Tamil Nadu newsprints and papers (TNPL) announced their quarterly results (Q4) in the background of the recent announcement by the state Chief Minister regarding an investment of Rs 1200-crore for the company to set up a packaging board manufacturing unit in Trichy.
05 Jun 2013 | By Samir Lukka
TNPL double their net, to invest Rs 1,200 cr in packaging board unit
The company’s net profit stood at Rs 41.21 crore (Rs 20.45 crore) on a total income of Rs 578.73 crore (Rs 563.18 crore). The capacity utilitsation was about 93 per cent, around 3.71 lakh tonnes for the year.
For fiscal 2012-13, net profit was Rs 91.48 crore (Rs 108.94 crore) on an income of Rs 1,861.26 crore (Rs 1,522.92 crore).
The work on setting up the multilayer double coated board plant of 2 lakh tonnes per annum will commence, with completion slated for March 2016 and will come up on 989-acre land and generate over 2,000 jobs. The work on the unit will start in the current year in Srirangam Constitutency on the Kulithalai-Manaparai State Highway in Mondipatti village.
TNPL’s 300-tonne-a-day deinking line is also operational and is expected to be commissioned soon.
The company will process used paper to produce pulp, which will augment its current pulp production of about 880 tonnes a day. It will need over 400 tonnes of used paper daily for the deinking line supplied by Austria’s Andritz AG.
The plant will produce high-grade pulp that will support production of printing and writing paper.
TNPL plans to outsource a portion of the pulp to other manufacturers for paper production until captive production is stepped up.
The deinking line is expected to add to TNPL’s top line as well as bottom line.
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