India's W&P Paper Industry Set for Margin Gains as Hardwood Costs Ease

Industry news

Shared with SuperPrinters · 8/24/2026 · Source: indianprinterpublisher.com

India's writing and printing paper sector is forecast to see operating margins climb to around 13.5% this fiscal year, up from 12%, as post-pandemic hardwood plantations enter harvest and push wood prices lower, according to Crisil. Since wood accounts for roughly half of operating costs, the supply increase is the primary margin driver rather than pricing gains. Demand is expected to grow 3-4%, supported by education, banking and judiciary usage, while digitization keeps manufacturers cautious about major capacity expansion. Capital spending will remain modest, focused on efficiency improvements such as backward integration and renewable energy adoption.

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