Star Paper Mills Ltd

₹ 178 -0.62%

10 Jun - close price

starpapers.com BSE: 516022 NSE: STARPAPER

About

Incorporated in 1938, Star Paper Mills Ltd manufactures and supplies Paper and Paper Board^[1]

Key Points

Business Overview:^[1]
SPML is is a part of Duncan Goenka Group. It is an ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 certified integrated Pulp and Paper Mill. Company produces a wide range of Industrial, Packaging and Cultural Papers. It has an R&D Unit recognised by Ministry of Science & Technology

Website BSE NSE

Market Cap ₹ 278 Cr.
Current Price ₹ 178
High / Low ₹ 284 / 146
Stock P/E 6.76
Book Value ₹ 436
Dividend Yield 2.25 %
ROCE 8.13 %
ROE 6.19 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.41 times its book value

Cons

The company has delivered a poor sales growth of 5.06% over past five years.
Company has a low return on equity of 9.76% over last 3 years.
Contingent liabilities of Rs.87.3 Cr.
Promoters have pledged 47.2% of their holding.
Earnings include an other income of Rs.23.9 Cr.
Dividend payout has been low at 11.6% of profits over last 3 years
Working capital days have increased from 115 days to 239 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

Commodities Forest Materials Paper, Forest & Jute Products Paper & Paper Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	112.90	119.03	134.49	115.75	123.41	123.57	105.66	114.81	100.43	113.85	110.91	97.48	114.09
	102.89	103.17	110.45	90.52	108.81	101.02	90.39	101.02	94.98	104.03	101.88	89.69	103.88
Operating Profit	10.01	15.86	24.04	25.23	14.60	22.55	15.27	13.79	5.45	9.82	9.03	7.79	10.21
OPM %	8.87%	13.32%	17.87%	21.80%	11.83%	18.25%	14.45%	12.01%	5.43%	8.63%	8.14%	7.99%	8.95%
	8.30	3.52	3.17	-5.71	8.48	3.99	8.49	7.08	10.55	8.24	10.06	4.50	1.14
Interest	0.00	0.13	0.12	0.11	0.20	0.11	0.19	0.19	0.34	0.23	0.23	0.26	0.24
Depreciation	1.41	1.28	1.31	1.30	1.39	1.32	1.38	1.38	1.37	1.37	1.39	1.38	2.25
Profit before tax	16.90	17.97	25.78	18.11	21.49	25.11	22.19	19.30	14.29	16.46	17.47	10.65	8.86
Tax %	-5.38%	14.97%	17.77%	29.65%	23.45%	21.43%	31.55%	23.52%	-0.07%	15.55%	16.94%	27.51%	43.34%
	17.81	15.28	21.20	12.74	16.45	19.74	15.19	14.76	14.31	13.91	14.52	7.71	5.01
EPS in Rs	11.41	9.79	13.58	8.16	10.54	12.65	9.73	9.46	9.17	8.91	9.30	4.94	3.21
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	275	271	272	324	347	378	341	233	331	493	444	436
	283	256	246	253	274	328	293	212	299	412	387	399
Operating Profit	-8	15	27	71	72	49	48	21	32	80	57	37
OPM %	-3%	5%	10%	22%	21%	13%	14%	9%	10%	16%	13%	8%
	-2	1	1	2	5	7	7	9	18	9	30	24
Interest	5	3	3	1	1	1	1	1	0	1	1	1
Depreciation	11	5	4	4	4	4	5	5	5	5	5	6
Profit before tax	-26	8	21	68	72	52	49	25	44	83	81	53
Tax %	-15%	-107%	20%	11%	25%	-3%	24%	30%	17%	21%	21%	23%
	-22	16	16	60	54	53	37	18	37	66	64	41
EPS in Rs	-14.15	9.96	10.57	38.67	34.76	34.08	23.88	11.22	23.48	42.07	41.00	26.36
Dividend Payout %	0%	0%	0%	5%	7%	7%	10%	22%	15%	12%	10%	13%

Compounded Sales Growth
10 Years:	5%
5 Years:	5%
3 Years:	10%
TTM:	-2%

Compounded Profit Growth
10 Years:	10%
5 Years:	3%
3 Years:	4%
TTM:	-37%

Stock Price CAGR
10 Years:	24%
5 Years:	12%
3 Years:	4%
1 Year:	-23%

Return on Equity
10 Years:	10%
5 Years:	8%
3 Years:	10%
Last Year:	6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	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	16	16
Reserves	17	31	48	337	390	440	473	486	519	579	632	665
	20	14	7	4	2	1	0	1	1	0	5	5
	117	109	106	157	154	135	142	147	136	134	137	137
Total Liabilities	170	170	176	514	562	592	630	650	672	728	790	822
	91	86	85	404	405	410	412	415	415	414	425	424
CWIP	1	1	1	2	7	4	7	6	3	3	3	2
Investments	32	32	32	46	78	81	89	94	113	47	194	203
	46	51	58	61	71	96	122	135	141	265	167	194
Total Assets	170	170	176	514	562	592	630	650	672	728	790	822

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	15	12	39	36	31	18	29	19	47	26	15
	1	-0	-3	-35	-31	-28	-4	-25	-13	-41	-9	4
	-4	-10	-10	-3	-7	-5	-8	-5	-5	-6	-9	-8
Net Cash Flow	-0	5	-1	1	-2	-2	5	-2	0	-1	7	12

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	9	9	14	8	8	7	4	1	7	2	3	5
Inventory Days	61	70	90	113	144	131	224	294	189	179	219	225
Days Payable	176	211	205	148	136	105	124	112	73	57	46	35
Cash Conversion Cycle	-107	-133	-102	-27	16	33	104	182	122	124	176	194
Working Capital Days	-61	-64	-43	-14	-0	14	40	42	44	44	63	239
ROCE %	-28%	19%	36%	32%	19%	12%	10%	5%	9%	17%	13%	8%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	45.17%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%
	1.70%	2.26%	1.73%	1.77%	1.89%	1.84%	1.70%	1.70%	1.71%	1.76%	1.69%	1.69%
	0.01%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	53.12%	52.82%	53.32%	53.30%	53.17%	53.24%	53.37%	53.37%	53.37%	53.31%	53.37%	53.38%
No. of Shareholders	23,015	21,946	20,975	20,501	19,813	20,272	19,320	17,494	16,746	16,982	17,204	17,244

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	53.06%	46.49%	46.04%	45.56%	45.17%	45.17%	45.17%	44.93%	44.93%	44.93%
	0.00%	0.25%	1.84%	0.19%	0.13%	0.13%	0.13%	1.77%	1.70%	1.69%
	3.61%	0.88%	0.29%	0.34%	0.48%	0.01%	0.02%	0.00%	0.00%	0.00%
	43.33%	52.38%	51.83%	53.92%	54.22%	54.69%	54.68%	53.30%	53.37%	53.38%
No. of Shareholders	10,031	12,438	13,130	16,392	20,136	20,760	24,826	20,501	17,494	17,244

* 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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Star Paper Mills Ltd

Star Paper Mills Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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