The Board of Directors of JK Paper (JKPL) in it`s meeting held today approved a Composite Scheme of Arrangement (Scheme) of, inter alia, JK Paper Ltd and Horizon Packs, Securipax Packaging, JKPL Utility Packaging Solutions which are wholly owned subsidiaries (WOS) of JKPL and Enviro Tech Ventures.As a part of the Scheme, the three WOS of JKPL engaged in manufacturing of packaging products and solutions will be merged with JKPL to create a consolidated paper and packaging company. Further, pursuant to the Scheme, The Sirpur Paper Mills will become a direct subsidiary of JKPL. Separately, the Board also approved the acquisition of majority stake in Radhesham Wellpack (RWPL) in today`s meeting. JKPL entered into a Share Purchase and Shareholders` Agreement (SPSHA) for the acquisition of 60% shares of RWPL upfront and the balance 40% to be acquired within a period of two years as per the SPSHA. RWPL is engaged in the business of manufacture of corrugated boxes, corrugated sheets, and other corrugated packaging related work/ products. Corrugated Packaging is a rapidly growing segment in the Indian Paper & Packaging industry driven by growth in end-use industries.Powered by Capital Market - Live News

Net profit of JK Paper declined 57.50% to Rs 128.51 crore in the quarter ended September 2024 as against Rs 302.35 crore during the previous quarter ended September 2023. Sales rose 1.99% to Rs 1682.93 crore in the quarter ended September 2024 as against Rs 1650.04 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1682.931650.04 2 OPM %15.6624.68 - PBDT227.52424.08 -46 PBT145.25340.58 -57 NP128.51302.35 -57 Powered by Capital Market - Live News

JK Paper will hold a meeting of the Board of Directors of the Company on 4 November 2024Powered by Capital Market - Live News

JK Paper announced that R.V. Kanoria (DlN: 00003792) and SandipSomany (DlN: 00053597) have completed their second term as Independent Directors of the Company on 22 August 2024 and consequently, they are not Members of the Board of Directors of the Company with effect from 23 August 2024.Powered by Capital Market - Live News

JK Paper announced that the Annual General Meeting (AGM) of the company will be held on 3 September 2024.Powered by Capital Market - Live News