Birla group stock Orient Paper hit fresh 52-week-high after Q4 revenue up 35%

Orient Paper Industries Ltd is a small cap CK Birla Group company that closed today at a market cap of ₹986.66 Cr. With a large selection of writing, printing, industrial, and speciality papers, Orient Paper Mills is one of India's top paper manufacturers. Following strong Q4 earnings, Orient Paper Ind shares reached a new 52-week high during afternoon trading.

The Board of Directors have “Recommended a dividend of Re. 1/- (100%) per equity share of Re.1/- each for the year ended 31st March, 2023, subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) of the Company,” said Orient Paper Industries in a stock exchange filing.

During the quarter ended March 2023, the company recorded revenue from operations of Rs 258.47 Cr up by 35.23% YoY from ₹191.13 Cr recorded during the quarter ended March 2022. The company said its net expenses stood at ₹205.76 Cr in Q4FY23 up by 5.22% YoY from ₹195.55 Cr in Q4FY22.

During the quarter under review, the net profit of Orient Paper Industries reached Rs 49.95 Cr as against a net loss of ₹2.20 Cr in the year-ago quarter. 

The shares of Orient Paper & Industries made a fresh 52-week-high of ₹47.60 apiece during the afternoon deals and closed on the NSE at ₹45.40 down by 0.11% from the previous close of ₹45.45. The stock touched a 52-week-low of ₹19.80 on (20-Jun-2022), indicating that after a new 1-year high made today, the stock was seen trading 129.29% above the 1-year low. During Q4FY23, the company recorded promoters shareholding of 38.73%, FIIs stake of 0.95%, DIIs stake of 8.59% and a public stake of 51.73%.