JK Paper takes full control of Radheshyam Wellpack with 44 crore buyout

Strategic consolidation in the Indian corrugated market

JK Paper has finalized the complete integration of its corrugated packaging operations by acquiring the remaining 20% stake in Radheshyam Wellpack Private Limited (RWPL). The transaction, executed on September 9, 2026, involved the purchase of 25,000 equity shares for a total consideration of ₹44.02 crore. With this move, the Pune-based manufacturer officially becomes a wholly-owned subsidiary of the JK Organisation's paper division.

This acquisition concludes the phased buyout strategy initiated in December 2024, when JK Paper initially secured a 60% majority stake under a Share Purchase and Shareholders' Agreement. The full integration of RWPL adds a critical 27,000 tonnes of corrugated capacity to JK Paper's manufacturing platform, directly serving the high-demand FMCG, e-commerce, and industrial sectors.

Packaging conversion drives financial growth

The strategic pivot toward packaging is yielding tangible financial results. In its Q2 2026 earnings report released in early November, JK Paper posted a 35.5% surge in consolidated net profit to ₹102.1 crore, alongside an 11.9% increase in revenue from operations, reaching ₹1,939.04 crore. Harsh Pati Singhania, Managing Director of JK Paper, explicitly attributed a significant portion of this improved performance to the packaging conversion businesses, which continue to show an upward trajectory in both revenue and profitability.

The complete absorption of Radheshyam Wellpack allows JK Paper to streamline operational efficiencies and consolidate its market share. According to recent assessments by CRISIL, JK Paper has successfully transitioned from a traditional writing and printing paper manufacturer to one of India's largest players in the organized packaging board and corrugated box segments.

• Total investment for final tranche: ₹44.02 crore.
• Shares acquired: 25,000 equity shares (₹100 face value).
• Strategic capacity: 27,000 tonnes of corrugated packaging.

The Indian corrugated packaging sector is undergoing rapid formalization, driven by stringent quality requirements from end-use industries and the need for sustainable, heavy-duty transit packaging. By securing 100% ownership of RWPL, alongside its previous acquisitions of Horizon Packs, Securipax Packaging, Manipal Utility, and Borkar Packaging, JK Paper solidifies its command over the domestic supply chain, ensuring tighter quality control and faster response times for customized packaging solutions.