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Seshasayee Paper & Boards shines on proposing to undertake Mill Development Plan -MDP-III

Mumbai : Seshasayee Paper & Boards is currently trading at Rs. 914.20, up by 4.10 points or 0.45% from its previous closing of Rs. 910.10 on the BSE. The scrip opened at Rs. 920.00 and has touched a high and low of Rs. 923.00 and Rs. 903.45 respectively. The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1328.00 on 07-Sep-2018 and a 52 week low of Rs. 800.05 on 17-Jul-2018.

Last one week high and low of the scrip stood at Rs. 965.00 and Rs. 903.45 respectively. The current market cap of the company is Rs. 1163.29 crore. The promoters holding in the company stood at 42.65%, while Institutions and Non-Institutions held 19.37% and 37.98% respectively. Seshasayee Paper & Boards has proposed to undertake Mill Development Plan -MDP-III at an estimated cost of Rs 315 crore at its Erode unit. The project will be taken up in convenient phases and implemented between 9 months and 21 months. The work on the project will commence in 02 of Financial Year 2019-20. Funding of this project will be through internal accruals and long term loans, which will be decided in the ensuing Board Meeting scheduled on July 27, 2019.

The project is for upgradation and modernisation of the Paper Machines to increase the capacity from 132000 tonnes per annum to 165000 tonnes per annum, up-gradation and modernisation of the RDH Pulp Mill to increase the capacity to 154000 tonnes per annum, up-gradation of the recovery Island and augmentation of waste water treatment plant. Seshasayee Paper & Boards operates an integrated pulp, paper and paper board Mill. The product range of the company includes MF I And MF II, MG, Yankee and MF3.

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