But TNPL didn’t stop there. Over the years, it has diversified its product range from just newsprint and writing paper to include high-quality copier paper, packaging boards, and now, paperboard used in premium packaging. With the decline of newspaper circulation in the digital age, this diversification has been a strategic masterstroke. TNPL’s packaging board plant, located at Trichy, has a capacity of 200,000 tonnes per annum and caters to the growing demand for sustainable packaging solutions. The rise in e-commerce, demand for biodegradable packaging, and ESG compliance by FMCG companies has made packaging board a sunrise sector, and TNPL is positioned perfectly to benefit from this trend. Financially, TNPL has shown remarkable resilience. Despite operating in a tough industry, the company has consistently remained profitable and has a history of rewarding shareholders with dividends. It has maintained a robust balance sheet with prudent debt levels and has been gradually reducing its borrowings in recent years. TNPL also enjoys a competitive advantage due to its captive power generation capabilities. It has a power generation capacity of over 100 MW, using a mix of bio-mass and recovery-based systems. This not only ensures energy security but also allows TNPL to sell excess power to the grid, generating additional revenue.