Sudarshan Group

What Sudarshan Group does

Sudarshan Group, formally Sudarshan Paper & Board Private Limited (SPB Group), is a Kolkata-headquartered, family-owned paper and paperboard merchant and distributor founded in 1965. The group distributes across eight paper/paperboard segments — including kraft, writing/printing, packaging, hygiene-converting and specialty grades such as PLA-coated and anti-fungal boards — to more than 1,800 active customers from an inventory base of 5,000 metric tons. Its supply relationships span more than 30 domestic mills and 5 international mills, with the long-standing APRIL-RGE partnership anchoring premium and sustainable grades. Brand-owner customers named in company materials include ITC Ltd, LTK Industries, CDC Printers, Pioneer Notebook, Pioneer Paper Co., Amul Macho, Dollar Big Boss and Lux Hosiery.

The business model is asset-light B2B distribution: Sudarshan buys in bulk from mills, holds working inventory at its 110,000 sq. ft. warehouse, and sells to converters and brand owners across Eastern India and increasingly pan-India. Revenue mechanics are unit-volume driven on thin commodity margins, supplemented by a deliberate move up the value chain into specification-driven grades and into the paper-cup manufacturing vertical. A separate vertical, SPB Machinery, distributes paper/paperboard converting equipment across India, the Middle East, Nepal and Bangladesh, providing diversification beyond commodity trading. The promoter family — founder-Chairman Shrawan Kr. Bajaj and second-generation Managing Director Navneet Bajaj (joined 1999) — owns and operates the group, with a parallel real-estate vertical inside the family.

Sudarshan has been investing in operating capability: a 6,000 sq. ft. head office, a 110,000 sq. ft. warehouse, and custom IT/ERP tooling that underpins sales, inventory and logistics workflows across roughly 130 employees. Recognition by APRIL-RGE (Best Overall April Partner 2024) signals continued strong supplier-side standing as the group pursues national expansion from its Eastern India stronghold.

Name

Sudarshan Group

Legal name

Sudarshan Paper & Board Private Limited

Website

https://sudarshanpaper.com

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

11–50 employees

Short description

Sudarshan Group (SPB Group), founded in 1965 and headquartered in Kolkata, is a family-owned paper and paperboard merchant distributing eight paper segments to 1,800+ customers across India from a 5,000 MT inventory base and 30+ mill partnerships.

Ownership category

akta.pro rank

Product category

Paper & Paperboard Distribution

NAICS

Converted Paper Product Manufacturing (3222)

SIC

Wholesale-Paper & Paper Products (5110)

akta.pro primary industry

Paperboard Sheet & Roll Converting (Slitting/Sheeting/Rewinding) (IMAMAFAM)

Keywords

• Paper merchant distribution
• Paperboard trading
• Converting machinery sales
• Food packaging substrates
• Industrial paper grades

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Paper & Paperboard Distribution: SPB Group is a paper and paperboard merchant and distributor operating in Eastern India, generating revenue through the trading and distribution of paper products sourced from domestic and international mills. Revenue is generated through product sales to over 1,800 customers across 8 segments of paper and paperboards, with a ready inventory of 5,000 MT for just-in-time supply. The company operates at a 500+ crore trading scale.
2. SPB Machinery — Converting Equipment Sales: SPB Machinery, established in 2008, provides end-to-end converting equipment including paper cup machines (SPB 1800), sheeter and rewinding machines, high-speed slitting machines, carton pasting machines (BFM-4000), and paper bag machines (PBRV-260). Revenue is generated from machine sales and after-sales service, serving clients in India, the Middle East, Asian subcontinent countries, Nepal, and Bangladesh.
3. Real Estate (via Group Companies): SPB Group operates in real estate through group companies KOTIRATAN NIKETAN PVT LTD, TERAPANTH MARKETING PVT. LTD, and AGARWAL TRAFIN PVT. LTD, representing a diversification vertical alongside paper distribution and machinery.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

SPB Group is a paper and paperboard merchant and distributor operating in Eastern India, supplying eight product segments (Coated Woodfree, Uncoated Woodfree, Cut Size Copier & Digital Grades, Food Packaging Grades, Virgin Paperboard, Recycled Paperboard, Industrial Grades, and Value-Added Specialty Grades) sourced from 30+ domestic and 5 international paper mills to over 1,800 customers. The group also sells converting equipment through SPB Machinery (paper cup machines, sheeters, slitters, carton pasting machines, paper bag machines) and offers roll-to-sheet converting and warehousing services.

Product overview

Sudarshan Paper & Board Private Limited (SPB Group) operates as a leading paper and paperboard merchant and distributor in Eastern India, offering eight distinct product segments — Coated Woodfree, Uncoated Woodfree (Maplitho), Cut Size Copier & Digital Grades, Food Packaging Grades, Virgin Paperboard, Recycled Paperboard, Industrial Grades, and Value Added Specialty Grades — across both domestic and imported sources. The portfolio spans paper weights from 40 to 500+ GSM and serves over 1,800 customers through a 130+ person team. The group's own brands include SPB Digi Edge (uncoated digital paper) and SPB Digi Edge Board (coated digital paperboard). Complementing the core trading business, the SPB Machinery vertical (established 2005) supplies converting equipment (sheeters, slitters, paper cup machines, carton pasting machines, paper bag machines), while a large converting and warehousing infrastructure (1.10 lakh sq. ft. warehouse, roll-to-sheet Synchro fly sheeter) adds operational capability.

Differentiator

Problem solved

Functional benefit

Brands

• SPB Machinery: Advanced machinery solutions for end-to-end paper products including sheeters, slitting machines, paper cup machines, carton pasting machines, and paper bag machines.
• SPB Digi Edge
• SPB Digi Edge Board

Products and services

• Coated Woodfree Paper & Paperboard C2S (Coated Two Sides) and C1S (Coated One Side) paper and paperboard grades spanning 50 to 350 GSM, sourced from domestic mills (JK Paper, ITC) and imported (Shandong Chenming Group), used for high-quality printing applications such as magazines, calendars, brochures, and packaging.
• Uncoated Woodfree (Maplitho) Paper Uncoated woodfree papers in 50-140 GSM range sourced from virgin wood pulp, agro pulp, and recycled fiber mills (Century Pulp & Paper, Asia Symbol, Chenming, Genus, Satia, N.R. Agarwal, Vishal, Rayana, Katyani, Prolific, Supreme, Sapphire), used for books, magazines, brochures, and high-quality printed materials.
• Cut Size - Copier & Digital Grades Copier and digital grade paper in A4, A3, and various cut pack sizes (65-300 GSM), including own brands SPB Digi Edge (uncoated digital paper at 85-100 GSM) and SPB Digi Edge Board (coated digital paperboard at 100-300 GSM), designed for office printing, legal documents, and digital printing applications.
• Food Packaging Grades Comprehensive food packaging product range including cup stocks, poly-coated grades, water-based plastic-free barrier coating grades, PLA-coated grades, kraft liner boards, virgin paperboards, paper straw grades (60-120 GSM), oil and grease-resistant (OGR) paper (40 GSM), and anti-fungal paper, sourced from partners including Naini Paper, for cup, bag, straw, and plate manufacturing.
• Virgin Paperboard Virgin paperboard comprising Folding Box Board (FBB) and Solid Bleached Sulfate (SBS) in 190-450 GSM range, offered in milky white and blueish white shades from ITC PSPD Ltd (FBB 180-400 GSM) and other partners (SBS 180-350 GSM), serving mono cartons, master cartons, and food industry packaging.
• Recycled Paperboard Recycled paperboard including Recycled Gray Back, White Back Duplex Board (200-500 GSM), Composite Kappa Board (1-3 mm thickness), and Color File Board, sourced from Mehali Papers and Sidharth Papers, providing eco-friendly alternatives for packaging applications.
• Industrial Grades Industrial-grade papers including Carry Bag Paper, Hi-Strength Maplitho, Bleached Kraft, Unbleached Low GSM Hi-BF Kraft, Absorbent Kraft, Stiffener Paper, Sack Kraft, Bible Printing Paper, Pharma Insert Paper, Release-based Paper, and Thermal Paper, sourced from partners including K.R. Pulp, serving B2B industries with abrasive and filter properties.
• Value Added Specialty Grades Value-added specialty papers including Color Printing Paper, Parchment Paper, Color Maplitho Paper, MICR Paper, Security Paper, and Tissue Paper, sourced from ITC PSPD, Century Paper, JK Paper, and Orient Paper, tailored for packaging, labeling, printing, bookbinding, and industrial sectors with customized properties.
• SPB Machinery Converting Equipment

Quantifiable outcome

• 1800+ active customers served across diverse channels
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

39 partnerships are on record, tiered flagship, core, major, standard and minor.

• Aprilfine Group (APRIL/RGE Group)flagshipStrategic or Co-development Partner · 1 January 2010SPB Group represents April–RGE Group (amongst the top 3 players in pulp and paper globally, present on 5 continents) as exclusive trusted partners in Eastern India since 2010, driving paper imports with a new dimensional approach to create new benchmarks. Aprilfine Group presented SPB Group with the 'Best Overall April Partner Award' in Bali, Indonesia in 2024, the 'Early Bird Award' (2018), 'Highest Volume Performer' (2018), 'Best Regional Partner Award' (2014), and 'Honorable Preferred Partner Award' (2014).
• ITC PSPD Ltd (ITC Limited)coreChannel Partner/ Reseller/ Distributor · 1 January 2005ITC Ltd awarded SPB Group a significant distribution role in 2005, recognizing their consistent award-winning performances. SPB Group distributes ITC's coated paperboard products (C2S Paperboard, GSM Range 190-350) and is also a partner for cup stock base, poly-coated cupstock, and barrier coated base (plastic-free) grades for food packaging.
• JK Paper (JK Paper Ltd)coreChannel Partner/ Reseller/ DistributorSPB Group distributes JK Paper's domestic C2S Coated Woodfree paper (GSM Range 120-180) and Bond Paper products. JK Paper awarded SPB Group an 'Exceptional Performance Award' in 2014.
• Century Pulp and Paper (Century Paper)coreChannel Partner/ Reseller/ DistributorSPB Group sources Uncoated Woodfree Paper from Century Pulp and Paper (produced using Virgin Wood Pulp, GSM Range 50-130), along with Color Printing Paper, Azurelade Paper, and Bond Paper products from Century Paper.
• Asia Symbol (Shandong Pulp and Paper)coreChannel Partner/ Reseller/ DistributorAsia Symbol is an international supplier partner for Uncoated Woodfree Paper produced using Virgin Wood Pulp (GSM Range 50-130). Asia Symbol/ Shandong Pulp and Paper is based in China.
• Shandong Chenming Group (Chenming)coreChannel Partner/ Reseller/ DistributorChenming Group supplies imported C1S, C2S, LWC, MWC Coated Woodfree paper and C2S Paperboard (GSM Range 50-350) to SPB Group. Chenming is a major Chinese paper manufacturer.
• ITC PSPD Ltd — Virgin Paperboard PartnercoreChannel Partner/ Reseller/ DistributorITC PSPD Ltd is the partner for FBB Virgin Paperboard (GSM Range 180-400) which includes milky white and blueish white shades. These virgin paperboard grades serve applications including mono cartons, master cartons, and food industry packaging.
• ITC Limited (Poly-Coated Cup Stocks)coreChannel Partner/ Reseller/ DistributorIn 2005, SPB Group entered the paper cup segment by offering poly-coated cup stocks from ITC, marking the beginning of their pioneering journey in India's paper cup industry.
• Genus Paper and BoardsmajorChannel Partner/ Reseller/ DistributorGenus Paper and Boards supplies Uncoated Woodfree Paper produced using Virgin Wood Pulp (GSM Range 50-130) to SPB Group.
• N. R Agarwal Industries LtdmajorChannel Partner/ Reseller/ DistributorN. R Agarwal Industries supplies Uncoated Woodfree Paper produced using Recycled Fibre (GSM Range 44-120) to SPB Group for the Indian market.
• Satia Paper (Satia Industries Limited)majorChannel Partner/ Reseller/ DistributorSatia Industries Limited supplies Uncoated Woodfree Paper produced using Virgin Agri Fibre (GSM Range 48-120) to SPB Group.
• Orient PapermajorChannel Partner/ Reseller/ DistributorOrient Paper is an international partner for M G Poster and Bible Printing Paper products. Orient Paper is based in India.
• Naini PapermajorChannel Partner/ Reseller/ DistributorNaini Paper is a partner for Cupstock Base (GSM Range 135-300) and Poly Coated Cupstock (GSM Range 177-300) for food packaging grade products.
• Vishal Paper MillmajorChannel Partner/ Reseller/ DistributorVishal Paper Mill is a partner supplying Uncoated Woodfree Paper produced using Recycled Fibre (GSM Range 44-120) to SPB Group.
• Mehali PapersmajorChannel Partner/ Reseller/ DistributorMehali Papers is a partner for HWC, MWC, LWC Gray Back Recycled Paperboard (GSM Range 180-500) sourced from Indian manufacturers.
• Sidharth PapersmajorChannel Partner/ Reseller/ DistributorSidharth Papers is a partner for HWC, MWC, LWC, White Back Recycled Paperboard (GSM Range 230-450) sourced from Indian manufacturers.
• K R PulpmajorChannel Partner/ Reseller/ DistributorK R Pulp is a partner for Sack Kraft, Release-based Paper, and Thermal Paper in the industrial grades segment, supporting paper bag manufacturing and specialty industrial applications.
• Rayana PaperstandardChannel Partner/ Reseller/ DistributorRayana Paper supplies Uncoated Woodfree Paper produced using Recycled Fibre (GSM Range 44-120) to SPB Group.
• Supreme PaperstandardChannel Partner/ Reseller/ DistributorSupreme Paper supplies Uncoated Woodfree Paper produced using Recycled Fibre (GSM Range 44-120) to SPB Group.
• DSG PaperstandardChannel Partner/ Reseller/ DistributorDSG Paper is listed as a paper mill partner in the SPB Group network.
• Krishna TissuesstandardChannel Partner/ Reseller/ DistributorKrishna Tissues is listed as a paper mill partner in the SPB Group network.
• Deevyashakti PaperstandardChannel Partner/ Reseller/ DistributorDeevyashakti Paper is listed as a paper mill partner in the SPB Group network.
• Spento Paper IndiastandardChannel Partner/ Reseller/ DistributorSpento Paper India is listed as a paper mill partner in the SPB Group network.
• Sapphire PapersstandardChannel Partner/ Reseller/ DistributorSapphire Papers is listed as a paper mill partner in the SPB Group network.
• Anand PaperstandardChannel Partner/ Reseller/ DistributorAnand Paper is listed as a paper mill partner in the SPB Group network.
• Katyani PaperstandardChannel Partner/ Reseller/ DistributorKatyani Paper is listed as a paper mill partner in the SPB Group network.
• Prolific PaperstandardChannel Partner/ Reseller/ DistributorProlific Paper is listed as a paper mill partner in the SPB Group network.
• Sirpur Paper & MillsstandardChannel Partner/ Reseller/ DistributorSirpur Paper & Mills is listed as a paper mill partner in the SPB Group network.
• Shah Paper MillsstandardChannel Partner/ Reseller/ DistributorShah Paper Mills is listed as a paper mill partner in the SPB Group network.
• GenusstandardChannel Partner/ Reseller/ DistributorGenus (listed as a separate partner from Genus Paper and Boards in some sections) is listed as a paper mill partner in the SPB Group network.
• SPB Digi Edge (Own Brand)coreChannel Partner/ Reseller/ DistributorSPB Digi Edge is the company's own brand for Copier Paper (GSM Range 65-80) and Uncoated Digital Paper (GSM Range 85-100) products, sold alongside external mill partners.
• SPB Digi Edge Board (Own Brand)coreChannel Partner/ Reseller/ DistributorSPB Digi Edge Board is the company's own brand for Coated Digital Paperboard (GSM Range 100-300) products, representing the company's vertically integrated product offering.
• SPB Machinery (Group Subsidiary)coreTechnology or IntegrationSPB Machinery, established in 2008, is a group company providing end-to-end converting equipment including paper cup machines (SPB 1800), sheeter and rewinding machines, high-speed slitting machines, carton pasting machines (BFM-4000), and paper bag machines (PBRV-260). It serves as both a supplier of converting equipment and an after-sales service provider, complementing the paper distribution business.
• ITC PSPD Ltd — Specialty Paper PartnercoreChannel Partner/ Reseller/ DistributorITC PSPD Ltd partners with SPB Group for specialty value-added papers including Color Printing Paper, Index Card & Pulp Board, and Azurelade Paper products.
• Century Paper — Specialty Paper PartnercoreChannel Partner/ Reseller/ DistributorCentury Paper partners with SPB Group for Security Paper products in the value-added specialty grades segment.
• Orient Paper — Specialty Paper PartnercoreChannel Partner/ Reseller/ DistributorOrient Paper partners with SPB Group for Pharma Insert Paper products in the value-added specialty grades segment.
• KOTIRATAN NIKETAN PVT LTDminorOthersKOTIRATAN NIKETAN PVT LTD is a group company operating in the real estate vertical under SPB Group, representing diversification beyond paper distribution and machinery.
• TERAPANTH MARKETING PVT. LTDminorOthersTERAPANTH MARKETING PVT. LTD is a group company operating in the real estate vertical under SPB Group, representing diversification beyond paper distribution and machinery.
• AGARWAL TRAFIN PVT. LTDminorOthersAGARWAL TRAFIN PVT. LTD is a group company operating in the real estate vertical under SPB Group, representing diversification beyond paper distribution and machinery.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Pyramid Papers (Pyramid Group): Indian paper merchant/distributor operating in a similar multi-grade paper and paperboard trading model. Directly comparable to SPB Group as a wholesale intermediary serving converters and brand owners across paper and packaging segments.

Broad incumbents

• APRIL / RGE Group (Aprilfine): Top-3 global pulp and paper player and SPB's flagship exclusive partner in Eastern India since 2010. Comparable as a much larger global manufacturer-distributor with overlapping product lines (coated/uncoated woodfree, paperboard) where SPB serves as a regional channel partner.
• Pudumjee Paper Products: Listed Indian paper manufacturer focused on specialty, hygiene, and packaging paper grades. Comparable as a manufacturer operating in specialty and converted paper categories that overlap with SPB's value-added specialty grades segment.
• Century Pulp and Paper: Indian paper manufacturer supplying uncoated woodfree, security paper and specialty grades to SPB. Operates in overlapping uncoated woodfree and specialty grade segments and could compete directly via its own distribution push in Eastern India.
• ITC Limited (Paperboards & Specialty Papers Division): One of India's largest paperboard manufacturers with extensive direct distribution. SPB is an ITC distribution partner, but ITC's own distribution and brand-direct customer relationships make it a broad incumbent competitor in coated paperboard and cup stocks.
• N.R. Agarwal Industries: Indian recycled-fiber paper manufacturer supplying uncoated woodfree paper to SPB. Operates in adjacent recycled-paperboard and writing/printing paper categories where SPB's distribution and converting customers overlap.
• Satia Industries: Indian paper manufacturer producing uncoated woodfree paper from virgin agri fibre. SPB distributes Satia products, and Satia represents an adjacent manufacturer-distributor competing in uncoated woodfree and writing/printing paper segments.

Others

• JK Paper: Major Indian paper manufacturer (coated woodfree, office papers, packaging boards) with established direct distribution. SPB distributes JK Paper products in Eastern India, making JK both a partner and a broad incumbent competitor in uncoated/coated woodfree segments.

Regional players

• Asia Pulp & Paper (Asia Symbol / Sateri / APP): Major Asian paper manufacturer and a direct SPB supplier for uncoated woodfree grades. Operates globally but has significant Indian distribution presence, making it a regional-peer manufacturer whose direct sales can compete with SPB's trading function.
• Shandong Chenming Paper Holdings: Major Chinese paper manufacturer supplying C1S/C2S coated woodfree and paperboard grades to SPB. A regional-peer manufacturer whose direct export relationships with Indian converters overlap with SPB's import distribution business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sudarshan Group