Three M Paper Boards to purchase a Plastic-Fired Low-Pressure Boiler to lower the power costs

Three M Paper Boards planning to expand capacity by 25% to cater to the growing demand of its products from domestic and international markets

Mumbai August 13, 24: Mumbai based Three M Paper Boards Ltd, plans to purchase a Plastic-Fired Low-Pressure Boiler, which will use waste plastic for power generation. This will help the company to lower the power cost. Company also planning to expand its capacity by 25% to cater to the growing demand of its products from domestic and international markets. Currently, the company has an installed capacity of 72,000 tonnes per annum (TPA), which would be enhanced, a top company executive said.

“We are planning to increase capacity by 25% in two years, which will be met through available funds and internal accruals. There is huge demand for recycled products from India and abroad,” MD Rushabh H. Shah said.   

The Coated Duplex Boards produced by the company are made from 100% recycled waste paper imported from the U.S. and Europe and are fully biodegradable, making them an eco-friendly choice for packaging various FMCG and pharmaceutical goods, Mr. Shah said.   The company’s recycled paper-based Duplex Board products range from 200 to 500 GSM and are used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods. The company supplies its products in both domestic and international markets.

Mr. Shah said that the Indian paper and packaging industry was experiencing robust growth, poised for significant expansion in the coming years.  “This remarkable growth is attributed to several factors, including the flourishing e-commerce, food processing, pharmaceuticals, FMCG, manufacturing, and healthcare sectors,” he added.

The company’s manufacturing facility in Chiplun, Maharashtra is spread over an area of more than 30 acres has an installed capacity of 72,000 tons per annum (TPA) along with 4 MW captive power plant and is equipped with state-of-the-art technology for manufacturing paper boards of the global quality standard suitable for high-quality print jobs in the packaging sectors across the globe. With a vast network of over 25 dealers nationwide and export operations in more than 15 countries, Three M Paper Boards maintains a broad market reach and a strong industry presence.

Established in 1989, Three M Paper Boards Ltd is one of the ISO-9001 certified companies engaged in the business of manufacturing recycled paper-based Duplex Board products ranging from 200 to 500 GSM used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets.

For the financial year ended on March 31, 2024, Company reported revenue from operations at Rs 272.23 crore, EBIDTA of Rs 27.07 crore and net profit of Rs 11.35 crore. The EBITDA was up by 25% as compared to 21.66 crores of previous financial year.

The net profit was up by 170% as compared to 6.62 crores of previous financial year. The Company reported an increase in EBITDA Margin from 6.57% in previous year to 9.94% in current year. Also, the PAT margin increased from 2.01% in the previous year to 4.11% in the current year.