JK Paper Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Paper & Board: 97.3% • Others: 2.7%
PROS
- Promoters have been increasing their shareholding - up 3.3pp over 2 years
- Latest quarter profit grew 55.7% YoY, showing strong momentum
- Company has delivered good sales growth of 19.3% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.27x)
- Company has been maintaining a healthy dividend payout of 30.1%
CONS
- Company has delivered a poor profit growth of -5.6% over past five years
- Operating margins have contracted to 10.8% from 26.8%
- Total debt has risen sharply - up 37.2% year on year
- Valuation is stretched - P/E of 28.4 is well above its own 5-year median (14.3)
- Growth is decelerating - 3Y profit CAGR (-35.2%) trails the 5Y trend (-5.6%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JKPAPER | 414.75 | 23.19 | 7520.20 | 0.96 | 136.27 | 59.49 | 1887.17 | 12.72 | 7.80 | 15.39 |
| WSTCSTPAPR | 713.10 | 20.51 | 4709.95 | 0.42 | 141.84 | 135.37 | 1051.26 | 10.12 | 7.11 | 19.34 |
| SESHAPAPER | 251.25 | 16.00 | 1584.59 | 0.80 | 31.91 | 106.80 | 492.08 | 27.68 | 5.60 | 8.85 |
| ANDHRAPAP | 73.29 | 52.76 | 1457.37 | 0.68 | 303.16 | 1322.95 | 3937.71 | 900.89 | 1.99 | 12.39 |
| NRAIL | 629.10 | 17.23 | 1070.67 | 0.32 | 34.98 | 111.33 | 646.96 | 43.09 | 8.25 | 11.48 |
| TNPL | 153.15 | 4.06 | 1059.96 | 2.61 | 5.74 | 177.46 | 1146.64 | 1.53 | 5.85 | 10.02 |
| PDMJEPAPER | 97.76 | 10.19 | 928.23 | 0.61 | 337.20 | 830.46 | 2029.20 | 932.93 | 20.10 | 17.53 |
| SATIA | 68.40 | 0.00 | 684.00 | 0.29 | -17.12 | -154.18 | 361.81 | -2.45 | 3.99 | 14.04 |
| KUANTUM | 76.62 | 18.51 | 668.61 | 3.26 | 62.30 | 416.58 | 3037.50 | 1262.60 | 5.24 | 13.20 |
| BBTCL | 227.00 | 13.99 | 465.61 | 0.00 | 14.39 | 727.77 | 180.47 | 18.53 | 3.03 | 18.69 |
| RAMANEWS | 31.08 | 0.00 | 458.50 | 0.00 | -10.50 | -29.46 | 9.72 | 6.02 | 1.87 | -7.68 |
| ORIENTPPR | 17.77 | 2.39 | 377.05 | 0.00 | -8.25 | -124.27 | 227.61 | -4.50 | -4.28 | 3.52 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,395 | 1,453 | 1,512 | 1,500 | 1,479 | 1,424 | 1,390 | 1,652 | 1,360 | 1,421 | 1,343 | 1,807 | 1,700 | |
| 1,044 | 1,126 | 1,203 | 1,190 | 1,267 | 1,201 | 1,250 | 1,454 | 1,157 | 1,256 | 1,230 | 1,581 | 1,571 | |
| Operating Profit | 351 | 327 | 309 | 310 | 212 | 222 | 140 | 199 | 203 | 165 | 113 | 226 | 129 |
| OPM % | 25.14% | 22.52% | 20.41% | 20.65% | 14.33% | 15.61% | 10.07% | 12.03% | 14.95% | 11.58% | 8.43% | 12.53% | 7.57% |
| 29 | 30 | 33 | 30 | 29 | 31 | 22 | 17 | 18 | 18 | 3 | 5 | 23 | |
| Interest | 44 | 35 | 72 | 28 | 29 | 61 | 17 | 44 | 60 | 44 | 37 | 47 | 31 |
| Depreciation | 60 | 62 | 61 | 60 | 61 | 63 | 62 | 76 | 62 | 64 | 64 | 77 | 76 |
| Profit before Tax | 276 | 260 | 209 | 251 | 151 | 130 | 82 | 96 | 99 | 74 | 15 | 108 | 152 |
| Tax % | 16.34% | 8.75% | 2.30% | 8.44% | 27.64% | 6.73% | 25.84% | 22.89% | 26.81% | 23.69% | 13.52% | 23.68% | 25.66% |
| Net Profit | 231 | 237 | 204 | 230 | 109 | 121 | 61 | 74 | 73 | 57 | 13 | 83 | 113 |
| 13.63 | 14.02 | 12.06 | 13.56 | 6.44 | 7.14 | 3.61 | 4.08 | 4.28 | 3.34 | 0.75 | 4.55 | 6.23 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,629 | 2,844 | 3,256 | 3,054 | 2,742 | 3,981 | 6,232 | 5,860 | 6,609 | 6,632 | 6,271 | |
| 2,117 | 2,248 | 2,386 | 2,151 | 2,110 | 3,038 | 4,570 | 4,564 | 5,788 | 5,859 | 5,638 | |
| Operating Profit | 512 | 596 | 870 | 904 | 631 | 943 | 1,662 | 1,296 | 821 | 773 | 633 |
| OPM % | 19.48% | 20.97% | 26.72% | 29.58% | 23.02% | 23.69% | 26.66% | 22.12% | 12.43% | 11.66% | 10.09% |
| 27 | 46 | 56 | 81 | 71 | 93 | 75 | 123 | 93 | 42 | 50 | |
| Interest | 188 | 146 | 122 | 123 | 96 | 106 | 188 | 180 | 155 | 192 | 159 |
| Depreciation | 120 | 121 | 125 | 144 | 154 | 169 | 237 | 243 | 295 | 302 | 281 |
| Profit before Tax | 232 | 375 | 678 | 719 | 453 | 761 | 1,312 | 996 | 465 | 320 | 349 |
| Tax % | 29.73% | 30.66% | 35.55% | 31.43% | 28.94% | 32.87% | 32.50% | 9.42% | 20.40% | 24.78% | 24.12% |
| Net Profit | 163 | 260 | 437 | 493 | 322 | 511 | 885 | 902 | 370 | 241 | 265 |
| EPS | 9.45 | 14.65 | 24.51 | 27.64 | 18.68 | 30.17 | 52.26 | 53.27 | 21.84 | 13.29 | — |
| Dividend Payout % | 14.37% | 16.87% | 14.27% | 14.47% | 21.03% | 18.23% | 15.31% | 15.96% | 22.90% | 30.09% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 19%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 15%
- 5 Years:
- -6%
- 3 Years:
- -35%
STOCK PRICE CAGR
- 10 Years:
- 22%
- 5 Years:
- 10%
- 3 Years:
- 4%
- 1 Year:
- 4%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 16%
- 3 Years:
- 11%
- Last Year:
- 5%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 156 | 176 | 178 | 178 | 169 | 169 | 169 | 169 | 169 | 181 |
| 1,166 | 1,470 | 1,863 | 2,190 | 2,431 | 2,875 | 3,605 | 4,383 | 4,650 | 4,794 | |
| 1,752 | 1,361 | 1,410 | 1,444 | 2,378 | 2,780 | 2,483 | 1,652 | 1,440 | 1,996 | |
| Trade Payables | 231 | 255 | 266 | 337 | 356 | 483 | 580 | 564 | 667 | 710 |
| 290 | 346 | 518 | 594 | 700 | 809 | 963 | 1,133 | 1,116 | 1,238 | |
| Total Liabilities | 3,594 | 3,608 | 4,236 | 4,743 | 6,035 | 7,117 | 7,801 | 7,902 | 8,042 | 8,919 |
| 2,636 | 2,603 | 2,568 | 2,522 | 2,418 | 4,466 | 4,341 | 4,198 | 4,774 | 4,660 | |
| Capital Work in Progress | 16 | 32 | 37 | 349 | 1,561 | 29 | 26 | 49 | 74 | 417 |
| 271 | 164 | 913 | 701 | 865 | 997 | 1,811 | 2,029 | 1,092 | 1,275 | |
| 383 | 394 | 322 | 447 | 346 | 466 | 678 | 778 | 1,076 | 1,155 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 168 | 392 | 442 | |
| Cash & Bank | 27 | 122 | 15 | 30 | 9 | 14 | 33 | 61 | 20 | 50 |
| 261 | 293 | 381 | 695 | 836 | 1,143 | 913 | 620 | 615 | 920 | |
| Total Assets | 3,594 | 3,608 | 4,236 | 4,743 | 6,035 | 7,117 | 7,801 | 7,902 | 8,042 | 8,919 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 609 | 625 | 1,053 | 764 | 636 | 726 | 1,623 | 932 | 469 | 518 | |
| Cash from Investing | -260 | 46 | -898 | -298 | -1,326 | -757 | -664 | -94 | 24 | -736 |
| Cash from Financing | -289 | -507 | -123 | -323 | 744 | 164 | -704 | -809 | -541 | 251 |
| 13 | 95 | -107 | 15 | -22 | 6 | 10 | 29 | -49 | 33 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - JK Paper Limited has informed the Exchange about Acquisition Update
2026-09-03 - JK Paper Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 02, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-02 - JK Paper Limited has informed the Exchange regarding Change in Auditors of the company.
2026-09-02 - JK Paper Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 02, 2026
2026-09-01 - JK Paper Limited has informed the Exchange regarding Appointment of Mr Arvind Kumar as Company Secretary & Compliance Officer of the company w.e.f. September 01, 2026.
2026-08-12 - JK Paper Limited has informed the Exchange regarding 'Revised Annual Report 2025-26'.
2026-08-07 - JK Paper Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-06 - JK Paper Limited has informed the Exchange that Record date for the purpose of Dividend is 19-Aug-2026.
2026-08-06 - JK Paper Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report'.
News
Recent coverage and analyst commentary for JKPAPER
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JK Paper Ltd.
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