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

News Snapshot:

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....