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Star Paper Mills Limited (SPML) reported satisfactory financial results for FY 2023-24 despite sluggish demand, intense competition, and rising wood costs.
Star Paper Mills Limited (SPML) reported satisfactory financial results for FY 2023-24 despite sluggish demand, intense competition, and rising wood costs. The company achieved a turnover of Rs. 444.47 Crores, with profit after tax (PAT) at Rs. 64.00 Crores, slightly down from Rs. 65.67 Crores in FY 2022-23. While lower global pulp prices impacted domestic realizations, a drop in coal prices provided some relief. SPML continues to promote social farm forestry, enabling the plantation of 43.86 lakh seedlings. Future plans include developing new paper grades, optimizing resources, and cost reduction through new vendor development.