From copier paper to corrugated packaging: Is JK Paper a value buy or a waiting game?

Few investors dream about investing in paper companies. It's not the kind of sector that gets discussed around coffee tables or makes headlines. But value investing isn't about what's exciting; it's about what's quietly working. Take India's top three pure-play paper companies: JK Paper, West Coast Paper, and Seshasayee Paper. Over the past decade, they've quietly grown profits at annualised rates of 35%, 50%, and 25% respectively. Part of that growth comes from consolidation — a global trend. A BCG report states that between 2000 and 2023, mergers and acquisitions in the global paper industry consistently totalled $15-25 billion annually….