Andhra Paper Ltd.

•

₹ 59.96-0.63%

2026-08-21

andhrapaper.comBSE: 502330NSE: ANDHRAPAP

Market Cap₹ 1,213 Cr.

Current Price₹ 60

High / Low₹ 87 / 58

Stock P/E0.0

Book Value₹ 99

Price to Book0.59

Dividend Yield0.82 %

ROCE2.0 %

ROE1.0 %

Face Value₹ 2

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ABOUT

KEY POINTS

PROS

Latest quarter profit grew 42.3% YoY, showing strong momentum
Company has been maintaining a healthy dividend payout of 53.4%
Working capital cycle has improved - days down from 206 to 147
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (329.6% of PBT)
Recent results are weak - TTM profit is down 55.5% versus prior year
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 8.4% over last 3 years
Company has a low return on capital employed of 11.2%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Forest MaterialsPaperPaper & Paper Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	JKPAPER	378.80	21.18	6868.36	1.06	136.27	59.49	1887.17	12.72	7.80	15.39
2.	WSTCSTPAPR	614.95	17.68	4061.68	0.49	141.84	135.37	1051.26	10.12	7.11	19.34
3.	SESHAPAPER	226.55	14.43	1428.81	0.88	31.91	106.80	492.08	27.68	5.60	8.85
4.	ANDHRAPAP	60.98	0.00	1212.59	0.82	303.16	1322.95	3937.71	900.89	1.99	12.39
5.	TNPL	138.45	0.00	958.22	2.89	57.40	874.63	11466.40	903.98	5.85	10.02
6.	NRAIL	501.20	0.00	853.00	0.40	34.98	111.33	646.96	43.09	8.25	11.48
7.	PDMJEPAPER	87.44	0.00	830.24	0.69	33.72	-6.95	202.92	3.29	20.10	17.53
8.	KUANTUM	78.92	0.00	688.68	3.17	6.23	-48.34	303.75	36.87	5.24	13.20
9.	SATIA	58.03	0.00	580.30	0.69	-171.20	-641.72	3618.15	875.45	10.53	14.04
10.	BBTCL	245.95	15.16	504.47	0.00	14.39	727.77	180.47	18.53	3.03	18.69
11.	RAMANEWS	32.50	0.00	479.45	0.00	-10.50	-29.46	9.72	6.02	1.87	-7.68
12.	PAKKA	88.56	11.25	422.15	0.00	58.91	3950.33	1171.87	1329.69	10.74	13.05

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	478	482	477	364	316	432	386	407	393	362	419	527	394
	323	351	367	329	282	380	357	387	360	369	403	502	375
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	22	21	24	28	25	30	15	18	27	10	29	17	22
Interest	1	1	1	1	2	4	5	7	6	4	5	4	3
Depreciation	16	17	17	17	21	21	22	25	26	27	27	27	27
	159	135	116	46	36	58	17	6	29	-28	12	12	41
Tax %	25.59%	25.44%	29.03%	15.75%	23.15%	27.82%	31.81%	-27.39%	26.95%	26.99%	19.13%	34.35%	25.23%
Net Profit	119	100	82	38	28	42	12	8	21	-20	10	8	30
	30	5	4	2	1	2	1	0	1	-1	0	0	0
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 478
: 323
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 1
Depreciation: 16
: 159
Tax %: 25.59%
Net Profit: 119
: 30
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 482
: 351
Operating Profit: —
OPM %: —
Other Income: 21
Interest: 1
Depreciation: 17
: 135
Tax %: 25.44%
Net Profit: 100
: 5
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 477
: 367
Operating Profit: —
OPM %: —
Other Income: 24
Interest: 1
Depreciation: 17
: 116
Tax %: 29.03%
Net Profit: 82
: 4
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 364
: 329
Operating Profit: —
OPM %: —
Other Income: 28
Interest: 1
Depreciation: 17
: 46
Tax %: 15.75%
Net Profit: 38
: 2
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 316
: 282
Operating Profit: —
OPM %: —
Other Income: 25
Interest: 2
Depreciation: 21
: 36
Tax %: 23.15%
Net Profit: 28
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 432
: 380
Operating Profit: —
OPM %: —
Other Income: 30
Interest: 4
Depreciation: 21
: 58
Tax %: 27.82%
Net Profit: 42
: 2
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 386
: 357
Operating Profit: —
OPM %: —
Other Income: 15
Interest: 5
Depreciation: 22
: 17
Tax %: 31.81%
Net Profit: 12
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 407
: 387
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 7
Depreciation: 25
: 6
Tax %: -27.39%
Net Profit: 8
: 0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 393
: 360
Operating Profit: —
OPM %: —
Other Income: 27
Interest: 6
Depreciation: 26
: 29
Tax %: 26.95%
Net Profit: 21
: 1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 362
: 369
Operating Profit: —
OPM %: —
Other Income: 10
Interest: 4
Depreciation: 27
: -28
Tax %: 26.99%
Net Profit: -20
: -1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 419
: 403
Operating Profit: —
OPM %: —
Other Income: 29
Interest: 5
Depreciation: 27
: 12
Tax %: 19.13%
Net Profit: 10
: 0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 527
: 502
Operating Profit: —
OPM %: —
Other Income: 17
Interest: 4
Depreciation: 27
: 12
Tax %: 34.35%
Net Profit: 8
: 0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 394
: 375
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 3
Depreciation: 27
: 41
Tax %: 25.23%
Net Profit: 30
: 0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,172	1,264	1,427	1,270	887	1,380	2,098	1,801	1,541	1,701	1,702
	1,002	1,043	1,049	967	826	1,159	1,363	1,370	1,407	1,634	1,649
Operating Profit	176	227	393	317	76	266	787	526	223	151	—
OPM %	15	18	28	25	9	19	38	29	14	9	—
Other Income	6	5	15	15	15	45	52	95	89	84	78
Interest	34	26	9	5	5	5	7	4	18	18	15
Depreciation	70	66	68	76	73	72	63	66	88	107	108
	44	126	311	236	-6	188	701	456	117	25	37
Tax %	27	34	36	10	26	26	25	25	24	27	25
Net Profit	32	83	200	213	-5	140	522	340	89	19	28
EPS	0	0	0	0	-1	35	131	85	4	1	—
Dividend Payout %	0	0	0	0	-432	21	10	12	22	53	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	4	10	11	-0	7	26	17	4	1	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	4	10	11	-0	7	26	17	4	1	—

Mar 2017

: 1,172
: 1,002
Operating Profit: 176
OPM %: 15
Other Income: 6
Interest: 34
Depreciation: 70
: 44
Tax %: 27
Net Profit: 32
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2018

: 1,264
: 1,043
Operating Profit: 227
OPM %: 18
Other Income: 5
Interest: 26
Depreciation: 66
: 126
Tax %: 34
Net Profit: 83
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2019

: 1,427
: 1,049
Operating Profit: 393
OPM %: 28
Other Income: 15
Interest: 9
Depreciation: 68
: 311
Tax %: 36
Net Profit: 200
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

Mar 2020

: 1,270
: 967
Operating Profit: 317
OPM %: 25
Other Income: 15
Interest: 5
Depreciation: 76
: 236
Tax %: 10
Net Profit: 213
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

Mar 2021

: 887
: 826
Operating Profit: 76
OPM %: 9
Other Income: 15
Interest: 5
Depreciation: 73
: -6
Tax %: 26
Net Profit: -5
EPS: -1
Dividend Payout %: -432
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0

Mar 2022

: 1,380
: 1,159
Operating Profit: 266
OPM %: 19
Other Income: 45
Interest: 5
Depreciation: 72
: 188
Tax %: 26
Net Profit: 140
EPS: 35
Dividend Payout %: 21
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2023

: 2,098
: 1,363
Operating Profit: 787
OPM %: 38
Other Income: 52
Interest: 7
Depreciation: 63
: 701
Tax %: 25
Net Profit: 522
EPS: 131
Dividend Payout %: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 26
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 26

Mar 2024

: 1,801
: 1,370
Operating Profit: 526
OPM %: 29
Other Income: 95
Interest: 4
Depreciation: 66
: 456
Tax %: 25
Net Profit: 340
EPS: 85
Dividend Payout %: 12
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 17

Mar 2025

: 1,541
: 1,407
Operating Profit: 223
OPM %: 14
Other Income: 89
Interest: 18
Depreciation: 88
: 117
Tax %: 24
Net Profit: 89
EPS: 4
Dividend Payout %: 22
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2026

: 1,701
: 1,634
Operating Profit: 151
OPM %: 9
Other Income: 84
Interest: 18
Depreciation: 107
: 25
Tax %: 27
Net Profit: 19
EPS: 1
Dividend Payout %: 53
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

TTM

: 1,702
: 1,649
Operating Profit: —
OPM %: —
Other Income: 78
Interest: 15
Depreciation: 108
: 37
Tax %: 25
Net Profit: 28
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 14%
3 Years:: -7%

COMPOUNDED PROFIT GROWTH

10 Years:: -7%
5 Years:: —
3 Years:: -67%

STOCK PRICE CAGR

10 Years:: 0%
5 Years:: 6%
3 Years:: -11%
1 Year:: -21%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 16%
3 Years:: 8%
Last Year:: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	40	40	40	40	40	40	40	40	40	40
	438	524	724	936	935	1,054	1,542	1,853	1,901	1,900
	90	116	0	0	22	40	40	51	80	0
Trade Payables	138	132	171	129	130	163	196	228	189	159
	485	348	371	403	376	429	599	808	845	898
Total Liabilities	1,191	1,161	1,306	1,508	1,504	1,726	2,417	2,979	3,055	2,996
ASSETS	-	-	-	-	-	-	-	-	-	-
	798	742	707	680	619	585	577	795	1,024	1,000
Capital Work in Progress	3	4	8	2	8	8	29	114	30	279
	10	15	16	44	219	383	887	1,029	909	650
	184	155	157	223	164	145	174	237	322	263
	0	0	0	0	0	0	0	61	109	156
Cash & Bank	7	17	67	171	82	55	47	26	8	19
	189	229	350	388	412	551	703	717	654	630
Total Assets	1,191	1,161	1,306	1,508	1,504	1,726	2,417	2,979	3,055	2,996
Total Debt	361	209	15	10	31	50	47	108	278	224
Net Working Capital	-146	-72	137	348	306	421	811	859	869	687
Contingent Liabilities	104	105	89	88	93	105	95	64	62	59
Book Value per Share	120.18	141.82	192.06	245.37	245.21	275.11	397.83	476.04	97.60	97.53
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	2.00	2.00
Total Debt	361	209	15	10	31	50	47	108	278	224
Net Working Capital	-146	-72	137	348	306	421	811	859	869	687
Contingent Liabilities	104	105	89	88	93	105	95	64	62	59
Book Value per Share	120.18	141.82	192.06	245.37	245.21	275.11	397.83	476.04	97.60	97.53
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	2.00	2.00

Mar 2017

Equity Capital: 40
: 438
: 90
Trade Payables: 138
: 485
Total Liabilities: 1,191
: 798
Capital Work in Progress: 3
: 10
: 184
: 0
Cash & Bank: 7
: 189
Total Assets: 1,191
Total Debt: 361
Net Working Capital: -146
Contingent Liabilities: 104
Book Value per Share: 120.18
Face Value: 10.00
Total Debt: 361
Net Working Capital: -146
Contingent Liabilities: 104
Book Value per Share: 120.18
Face Value: 10.00

Mar 2018

Equity Capital: 40
: 524
: 116
Trade Payables: 132
: 348
Total Liabilities: 1,161
: 742
Capital Work in Progress: 4
: 15
: 155
: 0
Cash & Bank: 17
: 229
Total Assets: 1,161
Total Debt: 209
Net Working Capital: -72
Contingent Liabilities: 105
Book Value per Share: 141.82
Face Value: 10.00
Total Debt: 209
Net Working Capital: -72
Contingent Liabilities: 105
Book Value per Share: 141.82
Face Value: 10.00

Mar 2019

Equity Capital: 40
: 724
: 0
Trade Payables: 171
: 371
Total Liabilities: 1,306
: 707
Capital Work in Progress: 8
: 16
: 157
: 0
Cash & Bank: 67
: 350
Total Assets: 1,306
Total Debt: 15
Net Working Capital: 137
Contingent Liabilities: 89
Book Value per Share: 192.06
Face Value: 10.00
Total Debt: 15
Net Working Capital: 137
Contingent Liabilities: 89
Book Value per Share: 192.06
Face Value: 10.00

Mar 2020

Equity Capital: 40
: 936
: 0
Trade Payables: 129
: 403
Total Liabilities: 1,508
: 680
Capital Work in Progress: 2
: 44
: 223
: 0
Cash & Bank: 171
: 388
Total Assets: 1,508
Total Debt: 10
Net Working Capital: 348
Contingent Liabilities: 88
Book Value per Share: 245.37
Face Value: 10.00
Total Debt: 10
Net Working Capital: 348
Contingent Liabilities: 88
Book Value per Share: 245.37
Face Value: 10.00

Mar 2021

Equity Capital: 40
: 935
: 22
Trade Payables: 130
: 376
Total Liabilities: 1,504
: 619
Capital Work in Progress: 8
: 219
: 164
: 0
Cash & Bank: 82
: 412
Total Assets: 1,504
Total Debt: 31
Net Working Capital: 306
Contingent Liabilities: 93
Book Value per Share: 245.21
Face Value: 10.00
Total Debt: 31
Net Working Capital: 306
Contingent Liabilities: 93
Book Value per Share: 245.21
Face Value: 10.00

Mar 2022

Equity Capital: 40
: 1,054
: 40
Trade Payables: 163
: 429
Total Liabilities: 1,726
: 585
Capital Work in Progress: 8
: 383
: 145
: 0
Cash & Bank: 55
: 551
Total Assets: 1,726
Total Debt: 50
Net Working Capital: 421
Contingent Liabilities: 105
Book Value per Share: 275.11
Face Value: 10.00
Total Debt: 50
Net Working Capital: 421
Contingent Liabilities: 105
Book Value per Share: 275.11
Face Value: 10.00

Mar 2023

Equity Capital: 40
: 1,542
: 40
Trade Payables: 196
: 599
Total Liabilities: 2,417
: 577
Capital Work in Progress: 29
: 887
: 174
: 0
Cash & Bank: 47
: 703
Total Assets: 2,417
Total Debt: 47
Net Working Capital: 811
Contingent Liabilities: 95
Book Value per Share: 397.83
Face Value: 10.00
Total Debt: 47
Net Working Capital: 811
Contingent Liabilities: 95
Book Value per Share: 397.83
Face Value: 10.00

Mar 2024

Equity Capital: 40
: 1,853
: 51
Trade Payables: 228
: 808
Total Liabilities: 2,979
: 795
Capital Work in Progress: 114
: 1,029
: 237
: 61
Cash & Bank: 26
: 717
Total Assets: 2,979
Total Debt: 108
Net Working Capital: 859
Contingent Liabilities: 64
Book Value per Share: 476.04
Face Value: 10.00
Total Debt: 108
Net Working Capital: 859
Contingent Liabilities: 64
Book Value per Share: 476.04
Face Value: 10.00

Mar 2025

Equity Capital: 40
: 1,901
: 80
Trade Payables: 189
: 845
Total Liabilities: 3,055
: 1,024
Capital Work in Progress: 30
: 909
: 322
: 109
Cash & Bank: 8
: 654
Total Assets: 3,055
Total Debt: 278
Net Working Capital: 869
Contingent Liabilities: 62
Book Value per Share: 97.60
Face Value: 2.00
Total Debt: 278
Net Working Capital: 869
Contingent Liabilities: 62
Book Value per Share: 97.60
Face Value: 2.00

Mar 2026

Equity Capital: 40
: 1,900
: 0
Trade Payables: 159
: 898
Total Liabilities: 2,996
: 1,000
Capital Work in Progress: 279
: 650
: 263
: 156
Cash & Bank: 19
: 630
Total Assets: 2,996
Total Debt: 224
Net Working Capital: 687
Contingent Liabilities: 59
Book Value per Share: 97.53
Face Value: 2.00
Total Debt: 224
Net Working Capital: 687
Contingent Liabilities: 59
Book Value per Share: 97.53
Face Value: 2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	172	215	310	177	104	202	536	319	-55	105
Cash from Investing	-29	-31	-110	-167	-113	-181	-499	-334	-61	2
Cash from Financing	-145	-175	-201	-11	11	-12	-41	5	109	-94
	-3	9	-1	-1	1	9	-4	-10	-7	12
Free Cash Flow	172	209	273	139	88	185	464	-46	-280	-219
OCF / Net Profit	5.30	2.59	1.55	0.83	-22.57	1.45	1.03	0.94	-0.62	5.61
Cumulative 5-Year FCF	0	0	0	0	880	893	1,149	830	411	104
OCF / Net Profit	5.30	2.59	1.55	0.83	-22.57	1.45	1.03	0.94	-0.62	5.61
Cumulative 5-Year FCF	0	0	0	0	880	893	1,149	830	411	104

Mar 2017

: 172
Cash from Investing: -29
Cash from Financing: -145
: -3
Free Cash Flow: 172
OCF / Net Profit: 5.30
Cumulative 5-Year FCF: 0
OCF / Net Profit: 5.30
Cumulative 5-Year FCF: 0

Mar 2018

: 215
Cash from Investing: -31
Cash from Financing: -175
: 9
Free Cash Flow: 209
OCF / Net Profit: 2.59
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.59
Cumulative 5-Year FCF: 0

Mar 2019

: 310
Cash from Investing: -110
Cash from Financing: -201
: -1
Free Cash Flow: 273
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.55
Cumulative 5-Year FCF: 0

Mar 2020

: 177
Cash from Investing: -167
Cash from Financing: -11
: -1
Free Cash Flow: 139
OCF / Net Profit: 0.83
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.83
Cumulative 5-Year FCF: 0

Mar 2021

: 104
Cash from Investing: -113
Cash from Financing: 11
: 1
Free Cash Flow: 88
OCF / Net Profit: -22.57
Cumulative 5-Year FCF: 880
OCF / Net Profit: -22.57
Cumulative 5-Year FCF: 880

Mar 2022

: 202
Cash from Investing: -181
Cash from Financing: -12
: 9
Free Cash Flow: 185
OCF / Net Profit: 1.45
Cumulative 5-Year FCF: 893
OCF / Net Profit: 1.45
Cumulative 5-Year FCF: 893

Mar 2023

: 536
Cash from Investing: -499
Cash from Financing: -41
: -4
Free Cash Flow: 464
OCF / Net Profit: 1.03
Cumulative 5-Year FCF: 1,149
OCF / Net Profit: 1.03
Cumulative 5-Year FCF: 1,149

Mar 2024

: 319
Cash from Investing: -334
Cash from Financing: 5
: -10
Free Cash Flow: -46
OCF / Net Profit: 0.94
Cumulative 5-Year FCF: 830
OCF / Net Profit: 0.94
Cumulative 5-Year FCF: 830

Mar 2025

: -55
Cash from Investing: -61
Cash from Financing: 109
: -7
Free Cash Flow: -280
OCF / Net Profit: -0.62
Cumulative 5-Year FCF: 411
OCF / Net Profit: -0.62
Cumulative 5-Year FCF: 411

Mar 2026

: 105
Cash from Investing: 2
Cash from Financing: -94
: 12
Free Cash Flow: -219
OCF / Net Profit: 5.61
Cumulative 5-Year FCF: 104
OCF / Net Profit: 5.61
Cumulative 5-Year FCF: 104

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	8.15	20.89	50.31	53.54	-1.16	35.13	131.37	85.43	4.47	0.94
Book Value (₹)	120.18	141.82	192.06	245.37	245.21	275.11	397.83	476.04	97.60	97.53
Dividend per Share (₹)	0.00	0.00	0.00	0.00	5.00	7.50	12.50	10.00	1.00	0.50
Cash EPS (₹)	5.15	7.49	13.47	14.52	3.46	10.65	29.45	20.40	8.91	6.33
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	14.30%	17.72%	27.55%	24.97%	8.58%	19.26%	37.51%	23.94%	8.73%	3.96%
Net Margin %	2.63%	6.49%	14.02%	16.77%	-0.52%	10.12%	24.91%	18.87%	5.77%	1.09%
ROE %	6.98%	15.94%	30.14%	24.48%	-0.47%	13.51%	39.04%	19.55%	4.64%	0.96%
ROCE %	8.81%	18.92%	41.22%	27.33%	-0.17%	18.03%	51.07%	25.34%	6.40%	1.99%
	2.61%	7.06%	16.22%	15.13%	-0.31%	8.65%	25.22%	12.59%	2.95%	0.62%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	20	20	18	16	24	24	22	21	20	28
Inventory Days	59	48	40	55	80	41	28	42	66	63
Payable Days	84	99	116	145	133	80	80	91	82	58
	-4	-31	-57	-74	-29	-16	-30	-28	4	34
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.76x	0.37x	0.02x	0.01x	0.03x	0.05x	0.03x	0.06x	0.14x	0.12x
Interest Coverage (x)	2.32x	5.85x	37.45x	45.29x	-0.37x	35.59x	98.75x	104.21x	7.54x	2.39x
	0.67x	0.80x	1.52x	2.56x	2.22x	2.39x	2.08x	3.04x	1.98x	1.85x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	1.08%	7.82%	12.92%	-11.04%	-30.16%	55.65%	51.98%	-14.16%	-14.40%	10.38%
Operating Profit Growth %	28.37%	28.80%	73.41%	-19.37%	-75.99%	249.26%	195.97%	-33.15%	-57.54%	-32.42%
Net Profit Growth %	-12.19%	156.41%	140.86%	6.42%	-102.16%	3138.58%	273.90%	-34.97%	-73.83%	-79.06%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-34.97%	-94.77%	-79.06%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.14x	15.39x	61.90x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.02x	0.70x	0.59x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.06%	1.45%	0.86%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	3.83x	7.34x	9.00x

Mar 2017

EPS (₹): 8.15
Book Value (₹): 120.18
Dividend per Share (₹): 0.00
Cash EPS (₹): 5.15
Operating Margin %: 14.30%
Net Margin %: 2.63%
ROE %: 6.98%
ROCE %: 8.81%
: 2.61%
Debtor Days: 20
Inventory Days: 59
Payable Days: 84
: -4
Debt to Equity (x): 0.76x
Interest Coverage (x): 2.32x
: 0.67x
Revenue Growth %: 1.08%
Operating Profit Growth %: 28.37%
Net Profit Growth %: -12.19%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 20.89
Book Value (₹): 141.82
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.49
Operating Margin %: 17.72%
Net Margin %: 6.49%
ROE %: 15.94%
ROCE %: 18.92%
: 7.06%
Debtor Days: 20
Inventory Days: 48
Payable Days: 99
: -31
Debt to Equity (x): 0.37x
Interest Coverage (x): 5.85x
: 0.80x
Revenue Growth %: 7.82%
Operating Profit Growth %: 28.80%
Net Profit Growth %: 156.41%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 50.31
Book Value (₹): 192.06
Dividend per Share (₹): 0.00
Cash EPS (₹): 13.47
Operating Margin %: 27.55%
Net Margin %: 14.02%
ROE %: 30.14%
ROCE %: 41.22%
: 16.22%
Debtor Days: 18
Inventory Days: 40
Payable Days: 116
: -57
Debt to Equity (x): 0.02x
Interest Coverage (x): 37.45x
: 1.52x
Revenue Growth %: 12.92%
Operating Profit Growth %: 73.41%
Net Profit Growth %: 140.86%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 53.54
Book Value (₹): 245.37
Dividend per Share (₹): 0.00
Cash EPS (₹): 14.52
Operating Margin %: 24.97%
Net Margin %: 16.77%
ROE %: 24.48%
ROCE %: 27.33%
: 15.13%
Debtor Days: 16
Inventory Days: 55
Payable Days: 145
: -74
Debt to Equity (x): 0.01x
Interest Coverage (x): 45.29x
: 2.56x
Revenue Growth %: -11.04%
Operating Profit Growth %: -19.37%
Net Profit Growth %: 6.42%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): -1.16
Book Value (₹): 245.21
Dividend per Share (₹): 5.00
Cash EPS (₹): 3.46
Operating Margin %: 8.58%
Net Margin %: -0.52%
ROE %: -0.47%
ROCE %: -0.17%
: -0.31%
Debtor Days: 24
Inventory Days: 80
Payable Days: 133
: -29
Debt to Equity (x): 0.03x
Interest Coverage (x): -0.37x
: 2.22x
Revenue Growth %: -30.16%
Operating Profit Growth %: -75.99%
Net Profit Growth %: -102.16%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 35.13
Book Value (₹): 275.11
Dividend per Share (₹): 7.50
Cash EPS (₹): 10.65
Operating Margin %: 19.26%
Net Margin %: 10.12%
ROE %: 13.51%
ROCE %: 18.03%
: 8.65%
Debtor Days: 24
Inventory Days: 41
Payable Days: 80
: -16
Debt to Equity (x): 0.05x
Interest Coverage (x): 35.59x
: 2.39x
Revenue Growth %: 55.65%
Operating Profit Growth %: 249.26%
Net Profit Growth %: 3138.58%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 131.37
Book Value (₹): 397.83
Dividend per Share (₹): 12.50
Cash EPS (₹): 29.45
Operating Margin %: 37.51%
Net Margin %: 24.91%
ROE %: 39.04%
ROCE %: 51.07%
: 25.22%
Debtor Days: 22
Inventory Days: 28
Payable Days: 80
: -30
Debt to Equity (x): 0.03x
Interest Coverage (x): 98.75x
: 2.08x
Revenue Growth %: 51.98%
Operating Profit Growth %: 195.97%
Net Profit Growth %: 273.90%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 85.43
Book Value (₹): 476.04
Dividend per Share (₹): 10.00
Cash EPS (₹): 20.40
Operating Margin %: 23.94%
Net Margin %: 18.87%
ROE %: 19.55%
ROCE %: 25.34%
: 12.59%
Debtor Days: 21
Inventory Days: 42
Payable Days: 91
: -28
Debt to Equity (x): 0.06x
Interest Coverage (x): 104.21x
: 3.04x
Revenue Growth %: -14.16%
Operating Profit Growth %: -33.15%
Net Profit Growth %: -34.97%
: -34.97%
P/E (x): 1.14x
P/B (x): 1.02x
Dividend Yield %: 2.06%
: 3.83x

Mar 2025

EPS (₹): 4.47
Book Value (₹): 97.60
Dividend per Share (₹): 1.00
Cash EPS (₹): 8.91
Operating Margin %: 8.73%
Net Margin %: 5.77%
ROE %: 4.64%
ROCE %: 6.40%
: 2.95%
Debtor Days: 20
Inventory Days: 66
Payable Days: 82
: 4
Debt to Equity (x): 0.14x
Interest Coverage (x): 7.54x
: 1.98x
Revenue Growth %: -14.40%
Operating Profit Growth %: -57.54%
Net Profit Growth %: -73.83%
: -94.77%
P/E (x): 15.39x
P/B (x): 0.70x
Dividend Yield %: 1.45%
: 7.34x

Mar 2026

EPS (₹): 0.94
Book Value (₹): 97.53
Dividend per Share (₹): 0.50
Cash EPS (₹): 6.33
Operating Margin %: 3.96%
Net Margin %: 1.09%
ROE %: 0.96%
ROCE %: 1.99%
: 0.62%
Debtor Days: 28
Inventory Days: 63
Payable Days: 58
: 34
Debt to Equity (x): 0.12x
Interest Coverage (x): 2.39x
: 1.85x
Revenue Growth %: 10.38%
Operating Profit Growth %: -32.42%
Net Profit Growth %: -79.06%
: -79.06%
P/E (x): 61.90x
P/B (x): 0.59x
Dividend Yield %: 0.86%
: 9.00x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.31	72.45	72.45	72.45	72.45	72.45	72.45	72.45	72.45
	2.31	1.35	1.02	0.96	0.84	0.79	0.79	0.33	0.27
	2.60	4.53	4.67	4.67	4.68	4.68	4.74	5.79	5.48
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	22.77	21.67	21.86	21.92	22.03	22.09	22.02	21.43	21.79

Jun 2024

: 72.31
: 2.31
: 2.60
Government: 0.00
: 22.77

Sep 2024

: 72.45
: 1.35
: 4.53
Government: 0.00
: 21.67

Dec 2024

: 72.45
: 1.02
: 4.67
Government: 0.00
: 21.86

Mar 2025

: 72.45
: 0.96
: 4.67
Government: 0.00
: 21.92

Jun 2025

: 72.45
: 0.84
: 4.68
Government: 0.00
: 22.03

Sep 2025

: 72.45
: 0.79
: 4.68
Government: 0.00
: 22.09

Dec 2025

: 72.45
: 0.79
: 4.74
Government: 0.00
: 22.02

Mar 2026

: 72.45
: 0.33
: 5.79
Government: 0.00
: 21.43

Jun 2026

: 72.45
: 0.27
: 5.48
Government: 0.00
: 21.79

Documents

Announcements

General Updates
2026-08-14 - ANDHRA PAPER LIMITED has informed the Exchange about General Updates on manufacturing operations at Kadiyam unit
General Updates
2026-08-13 - ANDHRA PAPER LIMITED has informed the Exchange about General Updates

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Feb 2025
TranscriptPPTREC
Nov 2024
TranscriptPPTREC
Aug 2024
TranscriptPPTREC