Star Paper Mills Ltd.
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ABOUT
PROS
- Company is almost debt free
- Company comfortably covers its interest (56.4x coverage)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (44.8% of PBT)
- Recent results are weak - TTM profit is down 19.3% versus prior year
- Company has a low return on equity of 9.4% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.51x)
* 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 | 33.72 | -6.95 | 202.92 | 3.29 | 20.10 | 17.53 |
| SATIA | 68.40 | 0.00 | 684.00 | 0.29 | -171.20 | -641.72 | 3618.15 | 875.45 | 3.99 | 14.04 |
| KUANTUM | 76.62 | 18.51 | 668.61 | 3.26 | 6.23 | -48.34 | 303.75 | 36.87 | 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 |
| STARPAPER | 169.50 | 25.34 | 264.56 | 1.47 | 11.00 | -14.09 | 103.46 | 2.28 | 8.18 | 2.69 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 124 | 106 | 115 | 100 | 114 | 111 | 97 | 114 | 101 | 104 | 92 | 113 | 103 | |
| 101 | 90 | 101 | 95 | 104 | 102 | 90 | 104 | 95 | 97 | 91 | 108 | 103 | |
| Operating Profit | 23 | 15 | 14 | 5 | 10 | 9 | 8 | 10 | 6 | 7 | 1 | 4 | 1 |
| OPM % | 18.25% | 14.46% | 12.01% | 5.43% | 8.63% | 8.14% | 7.99% | 8.95% | 6.21% | 6.84% | 0.68% | 3.95% | 0.80% |
| 4 | 8 | 7 | 11 | 8 | 10 | 4 | 1 | 12 | 6 | 12 | -6 | 14 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 25 | 22 | 19 | 14 | 16 | 17 | 11 | 9 | 16 | 11 | 11 | -3 | 15 |
| Tax % | 21.43% | 31.55% | 23.52% | -0.14% | 15.54% | 16.93% | 27.61% | 43.39% | 21.51% | -20.33% | 22.33% | 62.75% | 25.48% |
| Net Profit | 20 | 15 | 15 | 14 | 14 | 15 | 8 | 5 | 13 | 13 | 8 | -1 | 11 |
| 12.64 | 9.73 | 9.46 | 9.17 | 8.91 | 9.30 | 4.94 | 3.21 | 8.21 | 8.34 | 5.26 | -0.83 | 7.05 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 272 | 324 | 347 | 378 | 341 | 233 | 331 | 493 | 444 | 436 | 412 | |
| 246 | 253 | 274 | 328 | 293 | 212 | 299 | 413 | 387 | 399 | 399 | |
| Operating Profit | 27 | 71 | 72 | 49 | 48 | 21 | 32 | 80 | 57 | 37 | 13 |
| OPM % | 9.77% | 21.87% | 20.85% | 13.05% | 14.09% | 9.09% | 9.68% | 16.18% | 12.84% | 8.45% | 3.16% |
| 1 | 2 | 5 | 7 | 7 | 9 | 18 | 9 | 30 | 24 | 26 | |
| Interest | 3 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 6 | 7 |
| Profit before Tax | 21 | 68 | 72 | 52 | 49 | 25 | 44 | 83 | 81 | 53 | 33 |
| Tax % | 20.45% | 10.69% | 24.85% | -3.22% | 24.18% | 29.60% | 17.08% | 21.20% | 20.89% | 23.01% | 5.30% |
| Net Profit | 17 | 60 | 54 | 53 | 37 | 18 | 37 | 66 | 64 | 41 | 31 |
| EPS | 10.57 | 0.00 | 0.00 | 34.08 | 23.88 | 11.22 | 23.48 | 42.08 | 41.01 | 26.36 | — |
| Dividend Payout % | 0.00% | 5.17% | 7.19% | 7.34% | 10.47% | 22.28% | 14.91% | 11.88% | 9.75% | 13.28% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 5%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 2%
- 3 Years:
- 4%
STOCK PRICE CAGR
- 10 Years:
- 6%
- 5 Years:
- 2%
- 3 Years:
- -8%
- 1 Year:
- -4%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 8%
- 3 Years:
- 9%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| 48 | 337 | 390 | 440 | 473 | 486 | 519 | 579 | 632 | 665 | |
| 14 | 13 | 10 | 11 | 10 | 10 | 9 | 10 | 14 | 15 | |
| Trade Payables | 62 | 43 | 42 | 39 | 44 | 29 | 29 | 30 | 24 | 21 |
| 36 | 106 | 104 | 86 | 88 | 109 | 99 | 94 | 104 | 117 | |
| Total Liabilities | 176 | 514 | 562 | 592 | 630 | 650 | 672 | 728 | 790 | 833 |
| 85 | 404 | 405 | 410 | 412 | 415 | 415 | 414 | 425 | 424 | |
| Capital Work in Progress | 1 | 2 | 7 | 4 | 7 | 6 | 3 | 3 | 3 | 2 |
| 32 | 46 | 78 | 81 | 89 | 94 | 113 | 47 | 194 | 203 | |
| 27 | 33 | 44 | 49 | 80 | 76 | 75 | 96 | 115 | 135 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 6 | |
| Cash & Bank | 5 | 6 | 4 | 24 | 23 | 41 | 39 | 144 | 25 | 30 |
| 26 | 22 | 23 | 23 | 19 | 18 | 27 | 25 | 23 | 33 | |
| Total Assets | 176 | 514 | 562 | 592 | 630 | 650 | 672 | 728 | 790 | 833 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 52 | 49 | 42 | 26 | 34 | 28 | 67 | 26 | 15 | |
| Cash from Investing | -3 | -35 | -31 | -28 | -4 | -25 | -13 | -41 | -9 | 4 |
| Cash from Financing | -10 | -3 | -7 | -5 | -8 | -5 | -5 | -7 | -9 | -8 |
| -1 | 1 | -2 | -2 | 5 | -2 | 0 | -1 | 7 | 12 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Star Paper Mills Limited has informed the Exchange about working capital loan Agreement
2026-09-01 - Star Paper Mills Limited has informed the Exchange about Copy of Newspaper Publication in respect of 87th AGM of the company
2026-08-31 - Star Paper Mills Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-14 - Star Paper Mills Limited has informed the Exchange about Copy of Newspaper Publication in respect of June'26 quarter results
2026-08-12 - Star Paper Mills Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-12 - Star Paper Mills Limited has informed the Exchange that Record date for the purpose of DI is 17-Sep-2026.
2026-08-12 - Star Paper Mills Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-14 - Star Paper Mills Limited has informed the Exchange about Certificate under Reg 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June, 2026
2026-07-07 - ISG Traders Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
News
Recent coverage and analyst commentary for STARPAPER
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