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JK Paper
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Company History
J K Paper Ltd (formerly known as Central Pulp Mills), a member of HS Singhania Group is originally promoted by Parkhe Group of Pune to manufacture Paper and Paper products. The Company was incorporated in July, 1960. The Company is India's largest producer of branded papers and a leading player in Coated Papers and High-end Packaging Boards. It has two integrated Pulp and Paper Plants at Strategic Locations Unit JKPM in East (Rayagada, Odisha) and Unit CPM in West (Songadh, Gujarat).
The Company's three manufacturing facilities comprise the following: JK Paper Mills in Rayagada, Odisha, with an installed capacity of 2,95,000 TPA Central Pulp Mills in Songadh, Gujarat, with an installed capacity of 1,60,000 TPA Sirpur Paper Mills in Kagaznagar, Telangana (owned through its subsidiary), with an installed capacity of 1,36,000 TPA. It is the 1st Indian paper company to introduce Colorlok Technology in its complete range of Copier papers in India, 1st Indian paper company to get TPM certification from JIPM, Japan; 3rd Paper Company in the World and also 1st Paper Mill in India to get ISO 9001,ISO 14001 and OHSAS 18000.
It has a worldwide footprint with customers in over 60 countries covering the USA, Middle East, Europe, South-East Asia, and Africa. In India, the Company provide services to customers through a network of over 350 trade partners, 4,000 dealers, 15 depots & 4 regional marketing offices.
The Group commenced its journey in 1938 and made with an investment in the manufacture of straw board in Bhopal with a capacity of 3,600 TPA. The Company established its first paper manufacturing unit at JKPM, Odisha, in 1962. In 1992, it acquired Unit at CPM in Gujarat. The company which fell sick and referred to BIFR was taken over by JK Corp Ltd a member of the HS Singhania Group in 1992. JK Corp. holds 44.76% in the equity of this company as on Nov 6, 2003. The company has turnaround in a short period of time with the rehabilitation package by HS Singhania Group companies JK Corp Ltd and JK Industries. JK Paper today has an combined installed capacity of 150000 tpa with two integrated Paper Mills at JK Paper Mills, Orissa (Inst. Cap 100000 tpa) and Central Pulp Mills, Gujarat(Inst. Cap 50000 tpa). The company's paper mills are operating with a health average capacity utilisation of 115%. Further the company has purchased a Pulp Drying Plant from Finland in 2001 to increase the output and realization of market pulp. The plant was commissioned during the year itself.
In 2005, the Company commissioned a coating plant at JKPM Unit in Odisha. In 2007, it commissioned a premium packaging board plant at Unit - CPM (Gujarat).
J K Paper has also been consistently exporting its products to markets such as Sri Lanka, Bangladesh and several West Asian Countries. The company is the first paper mill in India to have been accredited with ISO 14001.
The company enjoys the locational advantage in respect of sourcing raw material. It sources all its bamboo requirements with in the 200 kms radius of the plant. Further for long term continuous source of raw material the company is running social forestry and farm forestry programmes in 11 districts of Orissa and 3 districts of Andhra Pradesh, covering a total area of over 20,000 Ha. In 2001-02 it has distributed 27 million saplings, covering over 5200 hectares under plantations in Orissa, AP and Gujarat.
J K Paper has been a pioneer in every field related to the manufacture and marketing of paper. It has the distinction of being the Largest manufacturer of branded copier paper in India.; First to introduce surface sized maplitho in India.; First to introduce high quality bond paper 'Finesse' in A4 size consumer friendly retail packs of 100 sheets. First to introduce laser paper in India. The company has introduced two new value added products i.e. MICR Cheque Paper and Cup-stock Board and both of them have well recieved in the market.
The company which is well known for its success in creating brand in paper industry with having top two paper brand (i.e JK Copier[contributing 140 cr. to co's turnover in FY02-03] & JK Easy Copier) in its basket the company has initiated outsourcing of paper products in India. This outsourcing activity was kick started in the end of 2001-02 and gathered momentum last year. The company has outsources JK Cote (positioned in upper art paper segment) from an international producer who produces as per the specification of JK Paper. The company outsouces domestically JK Eco Cote (caters to price conscious Chrome paper segment) and 'JK Eco Print'.
The Scheme of Compromise and/or Arrangement between JK Corp Limited and The Central Pulp Mills Limited was approved and sanctioned by the High Court of Orissa and High Court of Gujarat and become effective on 5th November 2001. Subsequent to this the name of the company was changed to JK Paper Ltd from The Central Pulp Mills Ltd.
Latest Development: JK Paper is planning to upgrade over half of its paper manufacturing capacity to manufacture coated paper. The upgradation (Conversion from non-coated to coated) to cost around Rs.60 crs.
In 2013, the Company commissioned a new fiber line and high-speed paper manufacturing machine at Unit - JKPM (Odisha) with a capacity of 1,65,000 TPA.
During the year 2016, the Company had issued 1,19,10,000 Equity Shares of Rs.10/- each at a price of Rs.42/- (including premium of Rs.32/-) aggregating to Rs.50 Crore on preferential basis to the Promoter and constituents of the Promoter Group. Consequently, the paid-up Equity Share Capital of the Company increased to Rs.148.53 Crore from Rs.136.62 Crore. The proceeds of the said issue have been used towards augmenting the Net Worth of the Company.
During the year under review, the Company had issued 74,28,240 Equity Shares of Rs. 10/- each at a conversion price of Rs.56.37 per Equity Share consequent upon the conversion of the Foreign Currency Convertible Bonds (FCCBs) (Series 2) to the holders of such FCCBs. The Company had also converted its FCCBs (Series 3) into 74,28,240 Equity Shares of Rs. 10/- each at a similar conversion price during the financial year 2017-18 and consequently the paid-up Equity Share Capital of the Company stands increased to Rs. 163.39 Crore on the date of signing of this Report.
During the year 2018, Euro 17.1 million FCCBs were converted resulting in increase in paid up Equity Capital of the Company from Rs 155.96 crore to Rs 175.50 crore. Since then, all the remaining FCCBs (Euro 2.4 million) have been converted enhancing the Equity Share Capital to Rs.178.24 crore.
In 2018, the Company acquired Sirpur Paper Mills Limited (SPML) in Telangana with an installed capacity of 1,36,000 MTPA. It made several de-bottlenecking and cost optimising investments in critical areas like head box, steam and power systems, finishing equipment, refiners, chemical processing, effluent discharge etc. in its existing facilities during the year totaling over Rs. 94 crore.
In 2019, the Company was certified as a Great Place to Work and the Unit CPM of the Company was awarded the Dr. B. L. Bihani, the Memorial Award for Best Paper (National) at PaperEx 2019.
During 2020-21, the Company procured 100% raw material from all sustainable sources into two categories i.e. FSC@ 100% wood from its Well Managed Group Plantations' and verified controlled wood through suppliers from Odisha, Andhra Pradesh, Chhattisgarh, Gujarat, Maharashtra and Madhya Pradesh. It produced new products, namely JK VFL, JK UFL, JK Color Kraft, JK Pac Fresh among others. Product categories launched in 2020-21 comprised Color Kraft paper, Kraft liner paper, JK Pac fresh. JK Sublime paper (rolls) & Liquid packaging board.
During 2022, the Company commissioned 170,000 TPA packaging board expansion at Unit Central Pulp Mills (CPM). It launched JIA (JK Paper Intelligent Assistant). It acquired the Embedded systems and Electro Optics Business of Deepti Electronics and Electro Optics Pvt. Ltd. through a Business Transfer Agreement.
During the year 2023, the Company had acquired 85% stake in Horizon Packs Pvt. Ltd and Securipax Packaging Ltd. Accordingly, HPPL and SPPL became subsidiaries of the Company. The Company formed a subsidiary, JKPL Packaging Products Limited (JKPPPL), which acquired a green field site in Ludhiana. The Company's s first Greenfield project in Ludhiana started trial production. It introduced new products such as, JK Eco green Purefil (Aqueous barrier coated Cupstock), K Eco green Tuff freeze (Aqueous barrier coated OGR Board), JK Purefil P2P (2 PE Coated Cupstock Board), and Cigarette Board.
JK Paper Share Price
JK Paper share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
JK Paper Market Cap
Market capitalization of JK Paper indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how JK Paper is valued compared to its competitors.
JK Paper PE Ratio
JK Paper PE ratio helps investors understand what is the market value of each stock compared to JK Paper 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
JK Paper PEG Ratio
The PEG ratio of JK Paper evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
JK Paper ROE (Return on Equity)
Return on Equity (ROE) measures how effectively JK Paper generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
JK Paper ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of JK Paper in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
JK Paper Total Debt
Total debt of JK Paper shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
JK Paper Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of JK Paper compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
JK Paper CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of JK Paper over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
JK Paper Technical Analysis
Technical analysis of JK Paper helps investors get an insight into when they can enter or exit the stock. Key components of JK Paper Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where JK Paper shares often struggle to rise above due to selling pressure.
JK Paper Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect JK Paper ’s financial health and profitability.
JK Paper Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
JK Paper Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
JK Paper Financials
The financials of JK Paper provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
JK Paper Profit and Loss Statements
The profit and loss statement of JK Paper highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of JK Paper .
JK Paper Balance Sheet
The balance sheet presents a snapshot of JK Paper ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
JK Paper Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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SEBI REGISTERED RESEARCH ANALYST REGISTRATION NUMBER: INH000015729Disclaimer: "Investments in securities are subject to market risks. Read all the related documents carefully before investing." Receiving registration from SEBI and certification from NISM does not assure the performance of the intermediary or guarantee returns to investors in any manner. Compliance Email: [email protected]
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