Seshasayee Paper & Boards Ltd

₹ 290 4.49%

22 May 1:35 p.m.

About

Seshasayee Paper & Boards is engaged in the business of manufacture and sale of printing and writing paper.

SPBL is the flagship company of SPB-ESVIN Group headquarted at Chennai. The company was incorporated in the year 1960, Seshasayee Paper has six decades of experience in the Indian paper industry.

Key Points

Products & Brands
The Company is engaged in the business of manufacturing and sale of paper and paper boards under Sprint, SPD, Color Sprint, and Success brands. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 1,826 Cr.
Current Price ₹ 290
High / Low ₹ 374 / 251
Stock P/E 16.8
Book Value ₹ 315
Dividend Yield 0.87 %
ROCE 7.04 %
ROE 5.60 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is trading at 0.89 times its book value

Cons

The company has delivered a poor sales growth of 8.18% over past five years.
Earnings include an other income of Rs.74.8 Cr.
Dividend payout has been low at 11.3% of profits over last 3 years
Working capital days have increased from 34.6 days to 60.4 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

Sector: Paper Industry: Paper

Part of BSE SmallCap BSE Allcap BSE Commodities

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	471	431	523	556	573	427	362	473	539	422	398	431	502
	392	343	383	406	416	331	273	386	472	374	368	424	477
Operating Profit	79	88	140	150	157	95	89	88	68	48	31	8	25
OPM %	17%	20%	27%	27%	27%	22%	25%	19%	13%	11%	8%	2%	5%
	7	5	13	11	10	13	18	15	17	15	19	21	20
Interest	1	1	1	1	1	0	0	0	1	1	1	2	4
Depreciation	11	12	12	12	10	11	11	11	11	11	11	11	11
Profit before tax	75	81	141	148	156	96	96	91	74	50	37	16	29
Tax %	24%	25%	24%	25%	24%	25%	24%	24%	23%	26%	23%	-4%	8%
	57	60	106	112	118	72	73	69	57	37	28	17	27
EPS in Rs	8.98	9.56	16.85	17.69	18.66	11.38	11.61	10.94	9.01	5.87	4.51	2.64	4.29
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	820	998	1,008	1,108	1,105	1,326	1,184	782	1,355	2,083	1,802	1,754
	716	908	901	894	898	1,030	917	675	1,189	1,549	1,462	1,643
Operating Profit	105	90	107	214	207	296	267	108	166	534	340	111
OPM %	13%	9%	11%	19%	19%	22%	23%	14%	12%	26%	19%	6%
	5	3	4	12	15	25	31	26	24	40	63	75
Interest	44	37	32	23	14	14	7	3	3	3	2	8
Depreciation	49	29	29	31	32	34	35	38	41	45	44	45
Profit before tax	16	26	50	172	176	273	256	93	146	525	357	132
Tax %	-25%	32%	29%	23%	30%	30%	29%	-15%	24%	25%	24%	18%
	20	16	36	132	123	192	182	106	110	396	271	109
EPS in Rs	3.64	2.61	5.71	20.97	19.54	30.44	28.79	16.87	17.44	62.76	42.93	17.31
Dividend Payout %	25%	31%	17%	10%	15%	13%	13%	14%	14%	9%	11%	14%

Compounded Sales Growth
10 Years:	6%
5 Years:	8%
3 Years:	9%
TTM:	-3%

Compounded Profit Growth
10 Years:	19%
5 Years:	-10%
3 Years:	0%
TTM:	-60%

Stock Price CAGR
10 Years:	22%
5 Years:	18%
3 Years:	12%
1 Year:	-16%

Return on Equity
10 Years:	15%
5 Years:	13%
3 Years:	15%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	13	13	13	13	13	12	12	12	12	12	12
Reserves	352	401	430	592	713	881	1,007	1,131	1,243	1,623	1,899	1,976
	434	329	302	171	149	97	10	8	4	0	21	82
	320	380	391	343	406	446	419	367	400	443	459	452
Total Liabilities	1,118	1,123	1,135	1,118	1,281	1,436	1,448	1,518	1,660	2,079	2,391	2,522
	726	661	638	650	686	685	688	747	828	809	789	769
CWIP	2	13	50	41	27	23	31	32	14	20	35	71
Investments	11	43	47	93	108	107	103	152	178	197	248	278
	379	405	399	335	460	621	626	585	640	1,054	1,319	1,404
Total Assets	1,118	1,123	1,135	1,118	1,281	1,436	1,448	1,518	1,660	2,079	2,391	2,522

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	209	105	112	200	225	273	165	-7	276	329	202	-61
	-317	-20	-46	-36	-50	-16	-26	-54	-251	-372	-225	42
	176	-104	-66	-154	-51	-89	-124	-31	-22	-22	-19	23
Net Cash Flow	68	-20	0	10	124	168	15	-91	3	-66	-42	5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	44	45	47	35	35	22	25	38	27	17	24	31
Inventory Days	112	116	97	115	147	110	187	413	87	138	170	115
Days Payable	251	194	188	168	220	211	215	311	137	134	153	80
Cash Conversion Cycle	-95	-33	-44	-18	-38	-79	-3	140	-23	21	41	66
Working Capital Days	3	27	24	-1	-13	-17	12	65	6	14	30	60
ROCE %			11%	26%	22%	31%	26%	9%	12%	37%	20%	7%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	42.78%	42.78%	42.78%	42.78%	42.78%	42.78%	42.78%	42.78%	42.78%	42.78%	42.81%	42.89%
	10.98%	12.04%	12.73%	12.73%	12.86%	12.86%	12.98%	12.97%	13.01%	13.11%	13.05%	13.06%
	0.22%	0.21%	0.21%	0.21%	0.21%	0.03%	0.02%	0.02%	0.06%	0.08%	0.08%	0.10%
	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%
	31.75%	30.69%	30.00%	29.99%	29.87%	30.05%	29.96%	29.96%	29.88%	29.77%	29.78%	29.68%
No. of Shareholders	18,482	19,465	20,897	20,467	22,296	25,683	26,436	25,875	25,729	23,430	23,316	22,471

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	42.65%	42.65%	42.65%	42.65%	42.65%	42.80%	42.78%	42.78%	42.89%
	7.06%	1.51%	1.65%	7.99%	10.82%	10.71%	12.73%	12.97%	13.06%
	3.74%	3.74%	3.45%	2.55%	0.03%	0.24%	0.21%	0.02%	0.10%
	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%	14.27%
	32.28%	37.82%	37.98%	32.53%	32.23%	31.98%	29.99%	29.96%	29.68%
No. of Shareholders	12,996	11,667	12,279	13,830	15,452	18,592	20,467	25,875	22,471

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Seshasayee Paper & Boards Ltd

Seshasayee Paper & Boards Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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