Shares of Genus Paper & Boards were locked in an upper circuit of 5% at Rs 17.20 after the company announced on Tuesday that it has commenced commercial production of Kraft Paper Machine Line, at its new unit located at Muzaffarnagar, Uttar Pradesh.
The production at the Muzaffarnagar unit has commenced on 27 June 2022. This unit has manufacturing facilities for production of kraft paper (two lines) and duplex paper.Kraft paper is classified as industrial paper and is used by packaging industry in making corrugated boxes and liners, corrugated sacks and composite containers. Demand of kraft paper is related to industrial growth and exports.
Duplex board paper is commonly used in consumer packaging sectors and for industrial packaging.
Genus Paper & Boards is a manufacturer of various grades of Kraft paper. On a consolidated basis, net profit of Genus Paper & Boards rose 48.3% to Rs 7.65 crore on 86.9% jump in net sales to Rs 174.86 crore in Q4 FY22 over Q4 FY21.
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