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IDBI Capital Report
Orient Paper and Industries Ltd. reported another weak quarterly result, marred by subdued demand due to nationwide lockdown amid Covid-19.
The company reported net sales of Rs 806 million, down by 46.2% YoY. Negative operating leverage weighed on Ebitda at negative Rs 161 million, while net loss stood at Rs 174 million.
Our interaction with the management suggests that writing and printing paper demand is still subdued in Q2 and there is no improvement in net sales realization as well.
On a positive note, the company has forayed into copier paper, which should partially support sales volume going forward.
The company has taken stringent cost cutting measures across the cost verticals, which would aid Orient Paper to tide through the storm.
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