Bullish for JKPAPER, WSTCSTPAPR: Paper Board MIP Extended to Sep 30

The Centre extended the minimum import price of ₹67,220 per metric tonne on virgin multi-layer paper board until September 30, 2026. This prevents below-cost imports (largely from China and ASEAN) from undercutting domestic producers. The MIP acts as a price floor on imports, indirectly supporting domestic realisations.

Indian paper board makers have battled cheap imports that pressured margins through CY2024-25. Continued protection gives domestic mills room to maintain or improve realisations into the festive packaging season. It signals the government's continued willingness to use trade tools to defend domestic capacity in the paper sector.

Positive bias for listed paper board producers — JKPAPER, WSTCSTPAPR, TNPL, SESHAPAPER, and EMAMIPAP stand to retain pricing power. FMCG and pharma packaging buyers may face slightly elevated input costs but the impact is marginal. Net sector sentiment: mildly bullish.

Watch Q1FY27 paper company commentary on realisations and import volumes. Track DGFT data on paper board imports post-extension for compliance impact. A failure to extend beyond September 30 could trigger sharp reversal — monitor any pre-expiry policy signals.

• •MIP on virgin multi-layer paper board set at ₹67,220 per metric tonne
• •Extension valid until September 30, 2026
• •Notified via official government notification