Paper / Wood / Glass/ Plastic/ Marbles
India-UK FTA a big step forward, will help businesses grow: JK Paper CMD Harsh Pati Singhania
JK Paper's Chairman, Harsh Pati Singhania, hails the India-UK Free Trade Agreement as a significant boost for businesses, strengthening economic ties. The agreement facilitates market access for both countries, fostering business growth and confidence. It also addresses the social service tax issue for Indian professionals in the UK, marking a substantial step forward in bilateral relations and trade.
PVC pipes, fittings manufacturing companies to see recovery this fiscal: Crisil Ratings
PVC pipe manufacturers are poised for a revenue recovery this fiscal year, fueled by strong demand from government initiatives like the Jal Jeevan Mission and Pradhan Mantri Awas Yojna. Increased budgetary allocations for these schemes will further drive the need for PVC pipes and fittings. Improved profitability and reduced inventory levels will also support capacity expansion for these companies.
Indian furniture brand WoodenStreet aims to quadruple revenue in 3 years, mulls IPO
WoodenStreet, backed by WestBridge Capital, aims to quadruple its revenue in three years by expanding its mattress and modular furniture businesses and opening dozens of new stores, positioning itself for a public listing. The company plans to triple its store count within 18-24 months, focusing on major cities, while also considering opportunities in smaller ones.
Greenlam Industries to invest Rs 1,147 crore in Andhra Pradesh for laminate facility
Greenlam Industries is investing Rs 1,147 crore to establish a High-Pressure Laminate and Particle Board manufacturing facility in Andhra Pradesh, poised to be South India's largest. The project will deploy advanced German technology and benefit from over Rs 329 crore in incentives from the Andhra Pradesh government. This expansion aligns with the growing Indian engineered wood and home decor market.
NCLAT clears path for Hindusthan National Glass bids, rejects RP ouster
NCLAT has overturned NCLT's decision to replace Hindusthan National Glass Industries' resolution professional, instructing NCLT to reconsider bids following Supreme Court directives. The Supreme Court previously directed the CoC to evaluate Independent Sugar Corporation Ltd.'s resolution plan.
Adani to rival Reliance with PVC plant by 2028
Gautam Adani's conglomerate is venturing into the petrochemicals sector with a 1 million tonne per year PVC plant in Mundra, Gujarat, challenging Reliance Industries' dominance. This project aims to reduce India's import dependency amid growing PVC demand driven by agriculture, infrastructure, and housing sectors. The plant, slated for commissioning by fiscal 2028, will utilize acetylene and carbide-based production processes.
India initiates anti-dumping probe into import of multi-layer paperboard from Indonesia
The Directorate General of Trade Remedies has initiated an anti-dumping investigation into imports of multi-layer paperboard from Indonesia, following a complaint from the Indian Paper Manufacturer Association. The association alleges that the domestic industry is suffering injury due to dumped imports.
Lenders approve Uganda-based INSCO's ₹2,257-crore plan for Hindusthan Glass
Creditors, including State Bank of India, have approved Independent Sugar Corp's revised ₹2,257 crore resolution plan for Hindusthan National Glass. The plan involves an upfront payment of ₹1,901.5 crore and a deferred payment of ₹356.3 crore. Secured financial creditors will recover 66.18% of their claims, with a ₹1,000 crore capital expenditure planned to revive HNG's operations.
INSCO submits Rs 2,752 crore revised resolution plan for HNGIL take over
Independent Sugar Corporation (INSCO) has presented a revised Rs 2,752 crore resolution plan to acquire Hindusthan National Glass & Industries Limited, aligning with a Supreme Court order. The plan includes Rs 2,200 crore upfront cash and Rs 550 crore in equity.
INSCO to submit improved resolution plan for Hindusthan National Glass
Independent Sugar Corp (INSCO), the approved bidder, will present an enhanced resolution plan of ₹356 crore for Hindusthan National Glass to lenders. This follows a Supreme Court directive to match AGI Greenpac's offer after rejecting the latter's plan due to delayed CCI approval. The resolution professional will now seek CoC approval for the revised INSCO plan by July 2025.
Must Watch
AGI Greenpac flags flawed CCI nod to INSCO’s Rs 2,800 crore HNG takeover
AGI Greenpac has challenged the approval of Independent Sugar Corp's takeover of Hindusthan National Glass. AGI claims the approval by the Competition Commission of India was flawed. They allege that INSCO filed unilaterally, violating regulations. AGI argues the approval is invalid and seeks a review. The Supreme Court had previously addressed the matter.
Hindusthan National Glass lenders to recover more as INSCO to match AGI Greenpac bid
The Supreme Court's decision in the Hindusthan National Glass insolvency case has increased the payout for creditors. Independent Sugar Corporation will match AGI Greenpac's cash offer, raising the total payout to ₹2,752 crore. The Supreme Court dismissed AGI's review petition and affirmed INSCO's commitment to the Committee of Creditors.
India’s paper imports more than double in four years to 2.05 million tonne, posing challenges for local players: IPMA
India's paper industry is facing significant challenges due to a surge in paper and paperboard imports, which reached a record 2.05 million tonnes in FY25. Imports from China have jumped by 33%, now accounting for 27% of India's total paper imports.
Agarwal Toughened Glass India Ltd. delivers stellar H2 FY25 results: PAT doubles and growth momentum accelerates
Agarwal Toughened Glass India Ltd. (ATGIL) announced impressive FY25 results, marked by a 103% surge in H2 PAT and significant gains in profitability. Driven by robust demand and regulatory tailwinds, the company is strategically venturing into solar glass and expanding capacity.
Kajaria Ceramics exits from plywood business due to continued losses
Kajaria Ceramics has decided to discontinue its loss-making plywood business, Kajaria Plywood, due to its lack of strategic fit and continued losses, expecting closure by June 30, 2025. This decision led to a 58.6% decline in consolidated profit for the March quarter, settling at Rs 43.18 crore.
Bengaluru firm unveils tech to recycle plastic that can't be melted
Steer World in Bengaluru has introduced the Omega Twin-Screw Extrusion Technology, a breakthrough for recycling previously un-meltable plastics like crosslinked polyethylene (XLPE). This innovation uses patented Fractional Geometry Technology to break carbon linkages, transforming thermoset waste into reusable De-XLPE pellets. This process enables circularity in polymer manufacturing by allowing the production of new wire insulation from recycled materials.
