The company had posted net profit of Rs 77.64 crore and revenue of Rs 564.73 crore in December 2023.
“Our consultant, Lagrange Point Advisors LLP, an investment banking firm based in Mumbai, informed us that the resolution plan to acquire Uniply Decor has been approved verbally by the Chennai Bench of the NCLT. The approval has been received under the provisions of Insolvency and Bankruptcy Code, 2016,” West Coast Paper Mills said in a regulatory filing.
West Coast Paper Mills Q1 earnings: Revenue from operations grew 2.24 percent year-on-year (YoY) to Rs 1,139 crore. The company reported a revenue of Rs 1,114 crore in Q1FY23
West Coast Paper Mills is looking lucrative on technical fronts. It is bouncing back from around a 50 percent retracement of the previous rally. It is trading above its all-important moving averages in a long consolidation formation.