Subam Papers Ltd
Incorporated in October 2006, Subam Papers Limited is a manufacturer of Kraft Paper and paper products. [1]
- Market Cap ₹ 509 Cr.
- Current Price ₹ 219
- High / Low ₹ 226 / 70.8
- Stock P/E 26.7
- Book Value ₹ 140
- Dividend Yield 0.00 %
- ROCE 12.4 %
- ROE 10.1 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 9.68% over last 3 years.
- Debtor days have increased from 78.1 to 99.2 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 243 | 268 | 318 | 445 | 448 | 448 | 466 | |
| 213 | 220 | 278 | 421 | 392 | 395 | 423 | |
| Operating Profit | 31 | 48 | 39 | 24 | 56 | 53 | 44 |
| OPM % | 13% | 18% | 12% | 5% | 12% | 12% | 9% |
| 8 | -8 | 7 | 7 | 5 | 6 | 2 | |
| Interest | 0 | 2 | 3 | 11 | 13 | 12 | 11 |
| Depreciation | 8 | 8 | 7 | 14 | 10 | 13 | 13 |
| Profit before tax | 30 | 29 | 37 | 6 | 38 | 34 | 22 |
| Tax % | 28% | 25% | 26% | 59% | 25% | 26% | |
| 22 | 22 | 27 | 3 | 29 | 26 | 19 | |
| EPS in Rs | 134.12 | 132.70 | 167.54 | 15.42 | 176.94 | 11.00 | 8.22 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 12% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 3% |
| 3 Years: | -2% |
| TTM: | -13% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 74% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 10% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 23 | 23 |
| Reserves | 111 | 133 | 160 | 162 | 191 | 289 | 301 |
| 25 | 11 | 115 | 103 | 123 | 114 | 115 | |
| 37 | 43 | 61 | 62 | 54 | 80 | 70 | |
| Total Liabilities | 175 | 188 | 337 | 329 | 370 | 506 | 510 |
| 38 | 31 | 123 | 135 | 144 | 162 | 161 | |
| CWIP | 0 | 3 | 0 | 0 | 20 | 0 | 0 |
| Investments | 3 | 12 | 16 | 16 | 15 | 141 | 141 |
| 133 | 142 | 198 | 178 | 191 | 204 | 207 | |
| Total Assets | 175 | 188 | 337 | 329 | 370 | 506 | 510 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 19 | 17 | 19 | 43 | 28 | 27 | |
| -5 | -14 | -120 | -21 | -35 | -103 | |
| -9 | -7 | 101 | -22 | 7 | 74 | |
| Net Cash Flow | 5 | -4 | -0 | 0 | -0 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 94 | 84 | 84 | 60 | 75 | 99 |
| Inventory Days | 31 | 60 | 90 | 37 | 74 | 63 |
| Days Payable | 59 | 64 | 77 | 54 | 55 | 50 |
| Cash Conversion Cycle | 66 | 81 | 96 | 43 | 94 | 112 |
| Working Capital Days | 104 | 91 | 48 | 26 | 28 | 56 |
| ROCE % | 30% | 19% | 6% | 18% | 12% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Newspaper Advertisement for the upcoming Extra-Ordinary General Meeting of the Company
-
Disclosure under Regulation 30A of LODR
17 Nov - Subam Papers dispatched EGM notice on Nov 17, 2025 via email and physical letters.
-
Disclosure under Regulation 30A of LODR
17 Nov - EGM on December 10, 2025; cut-off December 3; e-voting Dec 7 9:00am–Dec 9 5:00pm.
- Shareholder Meeting- EGM On December 10, 2025 17 Nov
-
Board Meeting Outcome for Out Come Board Meeting 14.11.2025 Disclosure Under Regulation 30 And 33 Of The SEBI (LODR) Regulations, 2015, As Amended ('SEBI LODR Regulations')
14 Nov - Board approved 26,32,800 warrants and 44,09,600 shares at Rs152, raising Rs107.04 crore; EGM Dec 10, 2025.
Product Portfolio - Application
1. Kraft Paper [1]
- Usage: Corrugated boxes, online retail packaging, carry bags, wrapping, and protective packaging.
Usage: Mono cartons, small boxes, notebook covers, invitations, matchboxes, carry bags, online retail packaging, writing, and printing paper.
Corrugated Boxes [2]
Usage: Corrugated boxes and packaging materials.
Paper Cones [3]
Usage: Yarn winding, thread storage, tape rolls, wire and cable, packaging, protective packaging, confectionery, and arts and crafts.
Paper Tubes and Cores [3]