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CARE Ratings Research Report
The paper and paper products industry is one of the worst affected industries due to the outbreak of Covid-1the 9 pandemic.
The lockdown imposed in the last week of March 2020 resulted in the closure of operations of the paper industry in the initial phase. Even while the paper industry’s operations resumed with reduced capacities as restrictions eased, challenges remained in terms of logistics disruption and migration of labour.
In addition to this, subdued demand from consumers also impacted sales. As a result, the industry’s sales plunged by 49.8% on a YoY basis during the June 2020 quarter.
Closure of education institutions, adoption of work from home by offices, muted demand for printing of newspapers among others disturbed the consumption of paper and paper products.
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