Seshasayee Paper and Boards502450Quarterly results

September quarter results: revenue Rs. 502.99 crore, profit after tax Rs. 34.96 crore

Q2 (Jul-Sep 2026): revenue Rs. 502.99 crore vs Rs. 346.25 crore; PAT Rs. 34.96 crore vs Rs. 17.80 crore.

By ScoutQuest · Sat 24 Oct 2026, 3:33 PM IST · 3 min read

Q2 Revenue: Rs. 502.99 crore vs Rs. 346.25 crore
Q2 PAT: Rs. 34.96 crore vs Rs. 17.80 crore
H1 PAT and Sales Volume: H1 PAT Rs. 68.55 crore, up 97%; sales 1,32,368 t, up 27%

The company published its unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, with a letter from the Chairman summarising operations, projects and the current quarter.

Quarter at a glance

Standalone revenue from operations 502.99 against 346.25 in the same quarter last year (Rs. crore).
EBITDA 58.72 against 39.64.
Profit before tax 46.76 against 24.08.
Profit after tax 34.96 against 17.80.
Earnings per share of Rs. 2 each, not annualised: 5.80 against 2.96.

Half year at a glance

Standalone revenue from operations 994.99 against 731.58, growth 36 %.
EBITDA 115.83 against 75.30, growth 54 %.
Profit before tax 91.86 against 47.14, growth 95 %.
Profit after tax 68.55 against 34.86, growth 97 %.

On a consolidated basis, revenue from operations was 503.06 for the quarter and 995.14 for the half year, with profit after tax of 42.31 and 74.22 respectively (Rs. crore).

Volumes and markets

Production in Apr-Sep 2026 was 1,38,241 tonnes against 1,19,180 tonnes, up 16 %.
Sales were 1,32,368 tonnes against 1,04,348 tonnes, up 27 %.
Domestic sales 1,14,453 tonnes (up 17 %) and exports 17,915 tonnes (up 187 %).
Capacity utilisation: Erode 116 %, Tirunelveli 94 %, overall 108 %.
Closing stock 25,305 tonnes against 36,200 tonnes, a change of (-)30 %.

The Chairman's letter attributes the improved profitability to higher production and sales volumes with higher realisation from both domestic and export markets, and says order inflow across key segments supported double-digit growth in sales volumes.

What the company says about the current quarter

The prevailing West Asian war crisis has caused a cost push, particularly in the price of chemicals and coal, which is expected to impact margins in full in Q-III.
Wood prices are expected to increase in Q-III, further adversely impacting cost of production.
Export margins are expected to be under pressure due to a steep increase in ocean freight rates.
Order incoming in both domestic and export markets is expected to remain positive in Q-III.

Projects and capex

Mill Development Plan-IV at the Erode unit is under execution, with major equipment such as the Recovery Boiler and Evaporator planned for commissioning by the end of this financial year.
Investment in hybrid solar and wind power facilities of 52.8 MWp (DC) / 35.2 MW AC solar capacity and 9 MW wind capacity under a Group Captive Model, supplying renewable power exclusively to the company; power is expected to become available in Q3.
New copier conversion machinery is planned for commissioning in Q4.
Unit-III (assets acquired from M/s. Servalakshmi Paper Limited, corporate debtor in liquidation, under an e-auction conducted under IBC proceedings): the company continues to await final orders from the NCLAT on one pending appeal shared by the ex-promoter; of the three appeals shared, two were dismissed as withdrawn and the remaining one has been heard and reserved for orders.

Other points

During the quarter the company acquired 2.90 lakh shares in its associate, M/s Ponni Sugars (Erode) Limited, raising its effective shareholding from 32.40% to 35.78% of that company's paid-up share capital.
Current borrowings were 0.00 as at 30 09 2026 against 76.75 as at 30 09 2025 (Rs. crore), and cash and cash equivalents stood at 53.17 crore (standalone).
Paper is the only reportable segment of operation.

Overall, the update shows strong growth in volumes, revenue and profit for the quarter and half year, alongside the company's own flag that input and freight costs are expected to pressure margins in the current quarter.

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