Homegrown IFL Enterprises signs MoU with Australia-based Charter Paper

IFL Enterprises, a leading paper trading firm, has announced that it has signed a strategic Memorandum of Understanding (MoU) with Australian paper products manufacturer Charter Paper Pty Ltd.

It said that the latest collaboration will boost the geographical expansion in the coming quarters. Besides, the firm is expecting an addition of about Rs 600 crores in the next 1.5 years to the top line and about Rs 70 crores to the bottom line.

Based out of Delhi, IFL Enterprises is a fast-growing operator in the paper industry. It recently secured fresh export orders valued at Rs 73 crore. The latest export order is in addition to the previous month's orders worth Rs 192 crore.

Notably, the Indian paper industry has shown exceptional growth in the last few years amid rising demand across the sectors. The industry gas showed signs of stabilisation due to factors like disruptions in supply due to the Russia-Ukraine war and China’s ban on paper waste among others.

As the paper industry witnesses demand growth in sync with the projected economic growth, several companies are experiencing a significant improvement in margins, driven by a surge in revenue and realisation.

According to the International Project Management Association (IPMA), paper consumption in India will likely reach 30 million tons by the end of FY2027. The Indian paper and paperboard packaging market is estimated to expand at a CAGR of 6 to 8 per cent until 2027.

IPMA has also said that several paper industry companies are taking environment-friendly measures to reduce their carbon and water footprint. It said that the paper industry has cut down water consumption by 80 per cent. It looks to reduce it further as investments of Rs 25,000 crore have been made in sustainable production processes in the last few years.