Paper / Wood / Glass/ Plastic/ Marbles
Paper industry growth threatened by cheap imports, warns JK Paper CMD Harsh Pati Singhania
The Indian paper industry is growing supported by sectors like printing, education, and packaging, despite challenges from cheap Asian imports. These imports and high local wood costs are impacting profit margins. Industry leaders are seeking government support for quality checks and measures against dumping to protect local manufacturers.
Lenders issue LoI to INSCO after SC order in Hindusthan National Glass case
State Bank of India has approved INSCO's takeover of Hindusthan National Glass after AGI Greenpac failed to get CCI approval. INSCO has until February 13 to pay 10% of its Rs 1851 crore offer, which is less than AGI's Rs 2213 crore bid.
INSCO urges CoC to fast track bid for HNG after Supreme Court nullifies AGI Greenpac's resolution plan
INSCO has urged the Committee of Creditors to expedite their bid for Hindustan National Glass following the Supreme Court's nullification of AGI Greenpac's resolution plan. The court ruled AGI Greenpac's failure to obtain prior CCI approval invalidated their bid. INSCO reaffirms its commitment to a swift resolution process, adhering to the Supreme Court's decision.
Ikea India aims for operational profitability in couple of years, says CEO Susanne Pulverer
Ikea India expects to achieve operational profitability within a couple of years. The company focuses on stabilisation, affordability, and efficiency to enhance profitability. After investing in expansions and encountering losses, Ikea aims to increase efficiency and reduce expenses while its online sales grow significantly.
Paper Trail: ITC frontrunner, West Coast also in race for CPP
ITC appears to be leading the race to acquire Century Pulp and Paper from the Aditya Birla Group, with an offer between `3,000-3,500 crore. West Coast Paper Mills is also in contention, with a decision expected soon. The Aditya Birla Group aims to generate capital for its diversified business interests.
SC sets aside AGI Greenpac’s resolution plan for debt-ridden Hindustan National Glass
The Supreme Court nullified AGI Greenpac Ltd's resolution plan for acquiring Hindustan National Glass due to lack of prior approval from the Competition Commission of India. The court emphasized the necessity for CCI approval before the Committee of Creditors approves any plan. It restored stakeholders' rights to their previous state and urged CoC to consider compliant plans.
India's plastic pipe industry has significant headroom for growth: Jefferies
India's plastic pipe industry has significant growth potential due to lower per-capita consumption compared to the global average. With an impressive 8% CAGR, it is projected to reach Rs 500 billion by FY25, driven by housing and infrastructure investments. However, PVC price volatility poses challenges.
Govt push for quality: Industry embraces QCO on plywood, MDF boards after initial resistance
The plywood and MDF board industry in India has accepted mandatory quality control norms for better standards. Commerce Minister Piyush Goyal states that the initiative aims to boost domestic manufacturing and limit sub-standard imports. These measures will help India establish itself as a manufacturing powerhouse, ensuring superior and safe products for consumers.
Quality control on Polypropylene and Poly Vinyl Chloride deferred to June 2025
The Centre delays the quality control orders on Polypropylene (PP) and Poly Vinyl Chloride (PVC) materials to June 24, 2025. This amendment prohibits the import and sale of non-BIS compliant PP and PVC. These materials are widely used across various industries, with significant market growth expected in the coming years.
Paper manufacturers' revenue may dip 2-3 pc in FY25: Crisil report
Indian paper manufacturers face a 2-3% revenue dip this fiscal year. Operating margins will likely shrink to 15-16%. High wood costs and lower paper prices are to blame. Volume growth is expected to be a modest 2-4%. However, the industry's financial health remains stable. A margin recovery is anticipated next fiscal year as wood supply improves.
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Saint-Gobain mirrors global mood, says India business will grow 3-fold in 10 years
Saint-Gobain, a France-headquartered sustainable construction major, targets three-fold growth in India, aiming for a turnover increase from ₹14,200 crore to nearly ₹50,000 crore by 2035. The company plans to leverage local manufacturing, diverse leadership, and extensive operations in glass, gypsum, abrasives, and construction chemicals to drive growth.
Paper industry body flags below-cost fibre paperboard imports, demands level playing field
Indian paper manufacturers are raising alarms over a surge in 'below-cost' virgin fibre paperboard imports, primarily from China and Chile. This influx has tripled imports in the first half of 2024-25, threatening domestic producers' profitability and planned Rs 20,000 crore investments in a market projected to reach Rs 25,000 crore by 2030.
PAG to acquire Advent-owned Manjushree Technopack
Asia-focused private equity fund PAG is set to acquire Manjushree Technopack Ltd., India's largest rigid plastic packaging company, for $1 billion. The deal will see US-based Advent International exit its investment in Manjushree, opting for a sale instead of its initial plan to list the company on the stock market.
Paper and paperboard imports rise by 3.5 pc in April-September FY25
India's paper and paperboard imports increased by 3.5% in the first half of the 2024-25 fiscal year, driven by a 44% surge in imports from China. The Indian Paper Manufacturers Association (IPMA) raised concerns about the impact of rising imports on the domestic industry, which is facing low capacity utilization and financial strain.
'India could be Aliaxis' largest market by 2030'
Aliaxis SA, a Belgian pipe and fittings manufacturer, sees India becoming its largest market by 2030. Driven by India's 15% annual growth rate, Aliaxis plans to invest over ₹1,800 crore in three new manufacturing facilities. The company aims to increase its market share in North India and projects India's revenue contribution to reach €1 billion within five years.
Welspun Corp's subsidiary Sintex-BAPL acquires 100% stake in Weetek Plastics for Rs 85 crores
Welspun Corp Limited, via its subsidiary Sintex-BAPL Limited, acquires Weetek Plastics Private Limited for Rs 85 crores. Weetek becomes a wholly owned step-down subsidiary, enhancing Welspun's plastic manufacturing capabilities in India. The acquisition supports Welspun's plans to expand with new plastic pipe manufacturing plants.
