Bonus issue of this paper stock will be decided in the board meeting this week

“We would like to inform that the meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, August 30, 2022, to consider, inter alia, the proposal for issuance of bonus share To the equity shareholders of the company,” Ruchira Papers announced in an exchange filing last week.

Further, the Company has informed that the trading window for trading in the securities of the Company shall remain closed from 23rd August, 2022 to 1st September, 2022 for all Directors, Key Managerial Persons, Nominees and persons associated under SEBI regulations. days included).

Ruchira Papers is engaged in manufacturing of Kraft Paper and Writing & Printing Paper. Writing and printing paper is used for many purposes like printing and stationery etc. The paper stock has risen nearly 96% in the one-year period, compared to a fall of nearly 2% so far in 2022 (YTD) by over 98%. In the benchmark BSE Sensex. Since its stock market debut in December 2008, shares of Ruchira Papers have gained over 610%.

The company initially set up Agro Waste Paper Mill to manufacture Kraft Paper and started its operations with a capacity of 2310 TPA. Over the years, the company has undertaken several phases of expansion and since then the production capacity of kraft paper has increased from 2310 TPA to 52800 TPA. The company had set up a 33000 TPA unit in March 2008 for manufacturing of writing and printing paper adjacent to its existing unit.

For the first quarter or Q1 FY23 of the current financial year ended June 2022, Ruchira Papers’ net profit increased to Rs. 11.6 crore as compared to 4.5 crore in the year-ago quarter. Meanwhile, its revenue jumped 199 crore during the quarter under review 126 crore in the corresponding quarter of the last financial year.

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