Seshasayee Paper & Boards Ltd

Seshasayee Paper & Boards Ltd

₹ 233 -0.91%
20 May 9:07 a.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]

  • Market Cap 1,469 Cr.
  • Current Price 233
  • High / Low 324 / 212
  • Stock P/E 17.8
  • Book Value 324
  • Dividend Yield 0.86 %
  • ROCE 5.60 %
  • ROE 4.10 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.73 times its book value

Cons

  • Company has a low return on equity of 8.06% over last 3 years.
  • Earnings include an other income of Rs.64.3 Cr.
  • Dividend payout has been low at 13.2% of profits over last 3 years
  • Debtor days have increased from 31.8 to 40.6 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
573 427 362 473 539 422 398 431 502 385 346 387 592
416 331 273 386 472 374 368 424 477 365 320 362 568
Operating Profit 157 95 89 88 68 48 31 8 25 20 26 25 24
OPM % 27% 22% 25% 19% 13% 11% 8% 2% 5% 5% 8% 6% 4%
10 13 18 15 17 15 19 21 20 14 18 13 20
Interest 1 0 0 0 1 1 1 2 4 1 4 3 1
Depreciation 10 11 11 11 11 11 11 11 11 12 11 11 11
Profit before tax 156 96 96 91 74 50 37 16 29 21 29 24 32
Tax % 24% 25% 24% 24% 23% 26% 23% -4% 8% 28% 22% 23% 19%
118 72 73 69 57 37 28 17 27 15 22 19 26
EPS in Rs 18.66 11.38 11.61 10.94 9.01 5.87 4.51 2.64 4.29 2.45 3.55 2.96 4.13
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
998 1,008 1,108 1,105 1,326 1,184 782 1,355 2,083 1,802 1,754 1,710
908 901 894 898 1,030 917 675 1,189 1,549 1,462 1,643 1,615
Operating Profit 90 107 214 207 296 267 108 166 534 340 111 96
OPM % 9% 11% 19% 19% 22% 23% 14% 12% 26% 19% 6% 6%
3 4 12 15 25 31 26 24 40 63 75 64
Interest 37 32 23 14 14 7 3 3 3 2 8 9
Depreciation 29 29 31 32 34 35 38 41 45 44 45 45
Profit before tax 26 50 172 176 273 256 93 146 525 357 132 106
Tax % 32% 29% 23% 30% 30% 29% -15% 24% 25% 24% 18% 22%
16 36 132 123 192 182 106 110 396 271 109 83
EPS in Rs 2.61 5.71 20.97 19.54 30.44 28.79 16.87 17.44 62.76 42.93 17.31 13.09
Dividend Payout % 31% 17% 10% 15% 13% 13% 14% 14% 9% 11% 14% 15%
Compounded Sales Growth
10 Years: 5%
5 Years: 17%
3 Years: -6%
TTM: -3%
Compounded Profit Growth
10 Years: 9%
5 Years: -5%
3 Years: -41%
TTM: -24%
Stock Price CAGR
10 Years: 17%
5 Years: 8%
3 Years: -5%
1 Year: -15%
Return on Equity
10 Years: 14%
5 Years: 12%
3 Years: 8%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 13 13 13 13 13 12 12 12 12 12 12 12
Reserves 401 430 592 713 881 1,007 1,131 1,243 1,623 1,899 1,976 2,030
329 302 171 149 97 10 8 4 0 21 82 0
380 391 343 406 446 419 367 400 443 459 452 460
Total Liabilities 1,123 1,135 1,118 1,281 1,436 1,448 1,518 1,660 2,079 2,391 2,522 2,502
661 638 650 686 685 688 747 828 809 789 769 758
CWIP 13 50 41 27 23 31 32 14 20 35 71 93
Investments 43 47 93 108 107 103 152 178 197 248 278 305
405 399 335 460 621 626 585 640 1,054 1,319 1,404 1,346
Total Assets 1,123 1,135 1,118 1,281 1,436 1,448 1,518 1,660 2,079 2,391 2,522 2,502

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
105 112 200 225 273 165 -7 276 329 202 -61 92
-20 -46 -36 -50 -16 -26 -54 -251 -372 -225 42 6
-104 -66 -154 -51 -89 -124 -31 -22 -22 -19 23 -103
Net Cash Flow -20 0 10 124 168 15 -91 3 -66 -42 5 -5
Free Cash Flow 86 69 168 172 243 119 -108 171 297 166 -123 37
CFO/OP 119% 104% 103% 125% 112% 79% 9% 184% 86% 88% -37% 125%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 45 47 35 35 22 25 38 27 17 24 31 41
Inventory Days 116 97 115 147 110 187 413 87 138 170 165 115
Days Payable 194 188 168 220 211 215 311 137 134 153 115 76
Cash Conversion Cycle -33 -44 -18 -38 -79 -3 140 -23 21 41 81 79
Working Capital Days -20 -11 -1 -13 -17 12 65 5 14 26 43 58
ROCE % 11% 26% 22% 31% 26% 9% 12% 37% 20% 7% 6%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
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Production Volume - Total
tonnes ・Standalone data
Sales Volume - Total
tonnes ・Standalone data
Installed Capacity - Total
MTPA ・Standalone data
Capacity Utilization - Overall
% ・Standalone data
Number of Appointed Indentors (Dealers)
count ・Standalone data

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Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
42.78% 42.78% 42.78% 42.78% 42.78% 42.78% 42.81% 42.90% 42.90% 42.90% 43.03% 43.11%
12.86% 12.86% 12.98% 12.97% 13.01% 13.11% 13.05% 13.06% 13.03% 13.02% 12.99% 12.94%
0.21% 0.03% 0.02% 0.02% 0.06% 0.08% 0.08% 0.10% 0.10% 0.10% 0.10% 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%
29.87% 30.05% 29.96% 29.96% 29.88% 29.77% 29.78% 29.68% 29.70% 29.69% 29.61% 29.59%
No. of Shareholders 22,29625,68326,43625,87525,72923,43023,31622,47122,19922,23421,66122,282

* 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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