Paper Industry Q2 FY27: JK Paper, ITC, Pudumjee Gain

Paper industry Q2 FY27 results show a strong recovery at three listed players: JK Paper, ITC’s paper segment and Pudumjee Paper Products. JK Paper’s consolidated profit after tax rose 36% to Rs 102.10 crore, ITC’s paper segment revenue rose 36% year on year, and Pudumjee’s Q2 profit after tax rose 34.28%, according to The Pulp and Paper Times on 3 November 2026.

How Did JK Paper Perform in Q2 FY27?

For the quarter ended September 2026, JK Paper reported consolidated turnover of Rs 2,053.69 crore, up 11%. EBITDA was Rs 300.86 crore, up 26%, and PBT was Rs 143.72 crore, up 48%. For H1, turnover was Rs 4,052.36 crore (up 12%), EBITDA Rs 621.76 crore (up 21%), PBT Rs 326 crore (up 53%) and PAT Rs 237.76 crore (up 50%). Harsh Pati Singhania was cited as crediting an improved product mix. JK Paper also acquired the remaining 20% stake in Radheshyam Wellpack Private Limited, making it a wholly owned subsidiary.

What Did ITC’s Paper Segment Report?

ITC’s paper segment (ITC-PSPD) saw revenue up 36% and PBIT up 48%, with the PBIT margin expanding by 320 basis points. Growth was attributed to demand, value-added paperboard grades and exports. The Century Pulp & Paper undertaking at Lalkuan, Uttarakhand, was acquired on 1 August 2026. The Minimum Import Price on Virgin Multi-layer Paperboard was extended to 31 March 2027.

How Did Pudumjee Paper Products Do?

Pudumjee’s Q2 revenue was Rs 227.30 crore, up 9.74% year on year and 12.01% from the previous quarter. Q2 PAT was Rs 22.72 crore, up 34.28% year on year but down 32.62% from Rs 33.72 crore in Q1. H1 turnover was Rs 430 crore versus Rs 404 crore, and paper sales tonnage rose about 2% with net realisation up about 4%. The company is preparing an environmental clearance application for its Mahad project.

What This Means for Wood Costs and Mills

Wood prices stayed elevated because of lower harvesting due to adverse weather and demand from competing industries. ITC expects wood prices to moderate.

Market Reaction and Industry Response

No share-price or trade-body reaction was found in the source reviewed.

What Happens Next?

Whether wood prices moderate as ITC expects will shape margins in coming quarters, as will the MIP extension on virgin multi-layer paperboard through March 2027.

Frequently Asked Questions

What was JK Paper’s Q2 FY27 net profit?

Consolidated PAT was Rs 102.10 crore, up 36%.

How much did ITC’s paper segment revenue grow?

Segment revenue rose 36% year on year, with PBIT up 48%.

Until when is the Minimum Import Price on virgin multi-layer paperboard extended?

Until 31 March 2027.

Source: The Pulp and Paper Times, 3 November 2026.