Paper Products on a roll over robust quarter numbers

DALAL STREET SPIKES

The stock advanced 9.04 per cent to close at Rs 248.50 at the BSE, after the company reported encouraging quarterly numbers. Paper Products' (PPL) net profit rose 28.70 per cent in the September quarter of 2005 to Rs 6.58 crore. Net sales rose 14.50 per cent to Rs 104.19 crore.

The company manufactures consumer packaging products and is mainly present in the premium-end segment of the packaging industry. Huhtamaki Oyi, Finland has a 59 per cent stake in the equity capital of the company.

FMCG major, HLL accounts for 25 per cent of sales. Other top clients include Nestle, Eveready, Glaxo SmithKline, Cadbury and Procter & Gamble. Paper Products is also planning to invest Rs 65 crore over a 2-year period in setting up a production facility in North India.