Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
Qtr. Results 
News 
About
Andhra Paper Ltd (ANDHRAPAP)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502330 NSE: ANDHRAPAP Paper & Paper Products | Small Cap | Andhra Paper Share Price
₹62.46 -0.42 (-0.67%)
As on 29-Jul'26 14:19
Andhra Paper Ltd (ANDHRAPAP)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502330 NSE: ANDHRAPAP Paper & Paper Products | Small Cap | Andhra Paper Share Price
₹62.46 -0.42 (-0.67%)
As on 29-Jul'26 14:19
Key Metrics
Valuation Multiples
Market Cap
₹1,250 Cr.
Current Price
₹62.5
52-Week Low / High
₹57 / 87
TTM EPS
₹0.9
TTM Sales
₹1,701 Cr.
Book Value per Share
₹97.5
P/E Ratio
67.16
Higher than its 5-year historical median
Industry PE
16.8
Price to Book (P/B)
0.64
Lower than its 5-year historical median
Price to Sales (P/S)
0.74
Lower than its 5-year historical median
EV/EBITDA
9.65
Higher than its 5-year historical median
Dividend Yield
0.8%
Profitability Efficiency
Return on Equity (ROE)
0.96%
Underperforms industry median
Return on Capital Employed (ROCE)
1.99%
Underperforms industry median
Return on Assets (ROA)
0.62%
Operating Profit Margin
5.3%
Net Profit Margin
1.09%
Gross Profit Margin
7.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
10.38%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-49.99%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-79.06%
Asset Quality
Promoter Holding
72.45%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,900 Cr.
Equity
₹39.8 Cr.
Face Value
₹2
All Time Low / High
₹4.29 / 135.00
Check Before You Invest
Quality
Somewhat GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Andhra Paper Ltd a good quality company?
Andhra Paper Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Andhra Paper Ltd performance compare with that of its Peers?
Revenue growth of Andhra Paper Ltd vs industry peers?
Andhra Paper Ltd revenue CAGR is 13.92%, compared to the industry median CAGR of 6.22%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Andhra Paper Ltd?
Promoters hold 72.45% of the Andhra Paper Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Andhra Paper Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 3.63% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Andhra Paper Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 8.8% | 18.9% | 41.2% | 27.3% | -0.2% | 18% | 51.1% | 25.3% | 6.4% | 2% | - |
| Value Creation Index ⓘ | -0.4 | 0.4 | 1.9 | 1.0 | -1.0 | 0.3 | 2.7 | 0.8 | -0.5 | -0.9 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 1,172 | 1,264 | 1,427 | 1,270 | 887 | 1,380 | 2,098 | 1,801 | 1,541 | 1,701 | 1,701 |
| Sales YoY Gr. | - | 7.8% | 12.9% | -11% | -30.2% | 55.7% | 52% | -14.2% | -14.4% | 10.4% | - |
| Adj EPS ⓘ | 2.6 | 4.6 | 10.3 | 10.7 | -0.1 | 7 | 26.8 | 16.7 | 3.1 | 0.2 | 0.9 |
| YoY Gr. | - | 78.7% | 122.8% | 4.1% | -100.9% | NA | 282.9% | -37.8% | -81.6% | -93.5% | - |
| BVPS (₹) ⓘ | 24 | 28.4 | 38.4 | 49.1 | 49 | 55 | 79.6 | 95.2 | 97.6 | 97.5 | 97.5 |
| Adj Net Profit ⓘ | 51.2 | 91.8 | 204 | 213 | -1.9 | 139 | 534 | 332 | 61 | 3.9 | 19 |
| Cash Flow from Ops. ⓘ | 172 | 215 | 310 | 177 | 104 | 202 | 536 | 319 | -55.4 | 105 | - |
| Debt/CF from Ops. ⓘ | 2.1 | 1 | 0.1 | 0.1 | 0.3 | 0.3 | 0.1 | 0.3 | -5 | 2.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.2% | 13.9% | -6.7% | 10.4% | ||||
| Adj EPS ⓘ | -24.7% | NA | -80.5% | -93.5% | ||||
| BVPSⓘ | 16.8% | 14.7% | 7% | -0.1% | ||||
| Share Price | -0.1% | 3.5% | -9.3% | -19.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 11 | 17.6 | 30.8 | 24.5 | -0.2 | 13.5 | 39.9 | 19.1 | 3.2 | 0.2 | 1 |
| Op. Profit Mgn % ⓘ | 14.5 | 17.9 | 26.7 | 24 | 6.9 | 16.2 | 35.2 | 24 | 9.1 | 5.3 | 4 |
| Net Profit Mgn % ⓘ | 4.4 | 7.3 | 14.3 | 16.8 | -0.2 | 10.1 | 25.4 | 18.4 | 4 | 0.2 | 1.1 |
| Debt to Equity ⓘ | 0.8 | 0.4 | 0 | 0 | 0 | 0.1 | 0 | 0.1 | 0.1 | 0.1 | 0.1 |
| Working Cap Days ⓘ | 119 | 108 | 114 | 161 | 244 | 168 | 137 | 192 | 249 | 229 | 117 |
| Cash Conv. Cycle ⓘ | 37 | 21 | 7 | 19 | 47 | 19 | 2 | 8 | 35 | 53 | 76 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,172 | 1,264 | 1,427 | 1,270 | 887 | 1,380 | 2,098 | 1,801 | 1,541 | 1,701 |
| Operating Expenses ⓘ + | 1,002 | 1,043 | 1,049 | 967 | 826 | 1,159 | 1,363 | 1,370 | 1,407 | 1,634 |
| Operating Profit ⓘ | 170 | 221 | 379 | 302 | 61 | 221 | 735 | 431 | 135 | 67 |
| Operating Profit Margin (%) | 14.5% | 17.5% | 26.5% | 23.8% | 6.9% | 16.0% | 35.0% | 23.9% | 8.7% | 4.0% |
| Other Income ⓘ + | 6 | 5 | 15 | 15 | 15 | 45 | 52 | 95 | 89 | 84 |
| Interest ⓘ | 34 | 26 | 9 | 5 | 5 | 5 | 7 | 4 | 18 | 18 |
| Depreciation ⓘ | 70 | 66 | 68 | 76 | 73 | 72 | 63 | 66 | 88 | 107 |
| Profit Before Tax ⓘ | 44 | 126 | 311 | 236 | -6 | 188 | 701 | 456 | 117 | 25 |
| Tax ⓘ | 12 | 43 | 111 | 23 | -2 | 49 | 179 | 116 | 28 | 7 |
| Profit After Tax | 32 | 83 | 200 | 213 | -5 | 140 | 522 | 340 | 89 | 19 |
| PAT Margin (%) | 2.8% | 6.6% | 14.0% | 16.8% | -0.5% | 10.1% | 24.9% | 18.9% | 5.8% | 1.1% |
| Adjusted EPS (₹) | 1.6 | 4.2 | 10.1 | 10.7 | -0.2 | 7.0 | 26.3 | 17.1 | 4.5 | 0.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | -432.40% | 21.40% | 9.50% | 11.70% | 22.40% | 53.40% |
Valuation of Andhra Paper - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 478 | 564 | 764 | 976 | 975 | 1,094 | 1,582 | 1,893 | 1,941 | 1,939 | |
| Debt + | 234 | 181 | 13 | 8 | 29 | 48 | 45 | 97 | 215 | 157 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 138 | 132 | 171 | 129 | 130 | 163 | 196 | 228 | 189 | 159 | |
| Others Liabilities ⓘ | 341 | 284 | 359 | 395 | 369 | 421 | 594 | 761 | 710 | 741 | |
| Total Liabilities ⓘ | 1,191 | 1,161 | 1,306 | 1,508 | 1,504 | 1,726 | 2,417 | 2,979 | 3,055 | 2,996 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 798 | 742 | 707 | 680 | 619 | 585 | 577 | 795 | 1,024 | 1,000 | |
| CWIP ⓘ | 3 | 4 | 8 | 2 | 9 | 8 | 29 | 114 | 30 | 279 | |
| Investments ⓘ | 10 | 15 | 16 | 44 | 219 | 383 | 887 | 1,029 | 909 | 650 | |
| Inventories | 184 | 155 | 157 | 223 | 164 | 145 | 174 | 237 | 322 | 263 | |
| Trade Receivables | 68 | 70 | 74 | 41 | 76 | 103 | 148 | 61 | 109 | 156 | |
| Cash Equivalents | 7 | 17 | 67 | 171 | 82 | 55 | 47 | 26 | 8 | 19 | |
| Others Assets ⓘ | 122 | 159 | 277 | 347 | 335 | 448 | 556 | 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 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 172 | 215 | 310 | 177 | 104 | 202 | 536 | 319 | -55 | 105 |
| Cash Flow From Investing Activity ⓘ + | -29 | -31 | -110 | -167 | -113 | -181 | -499 | -334 | -61 | 2 |
| Cash Flow From Financing Activity ⓘ + | -145 | -175 | -201 | -11 | 11 | -12 | -41 | 5 | 109 | -94 |
| Net Cash Flow ⓘ | -3 | 9 | -1 | -1 | 1 | 9 | -4 | -10 | -7 | 12 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| 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 | 6.4 | 1.99 |
| Asset Turnover Ratio | 0.99 | 1.09 | 1.16 | 0.9 | 0.59 | 0.85 | 1.01 | 0.67 | 0.51 | 0.56 |
| PAT to CFO Conversion(x) | 5.38 | 2.59 | 1.55 | 0.83 | N/A | 1.44 | 1.03 | 0.94 | -0.62 | 5.53 |
| Working Capital Days | ||||||||||
| Receivable Days | 20.50 | 19.60 | 18.30 | 16.40 | 24 | 23.60 | 21.80 | 21.10 | 20.10 | 28.40 |
| Inventory Days | 58.90 | 48.30 | 39.90 | 54.70 | 79.80 | 40.90 | 27.70 | 41.60 | 66.20 | 62.80 |
| Payable Days | 83.50 | 98.90 | 115.60 | 144.80 | 133.20 | 80.50 | 79.60 | 91 | 82.10 | 57.60 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Andhra Paper Ltd FAQs
The current trading price of Andhra Paper on 29-Jul-2026 14:19 is ₹62.46.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Jul-2026 the market cap of Andhra Paper stood at ₹1,250.4 Cr
The latest P/E ratio of Andhra Paper as of 28-Jul-2026 is 67.16.
The latest P/B ratio of Andhra Paper as of 28-Jul-2026 is 0.64.
The 52-week high of Andhra Paper is ₹86.85 and the 52-week low is ₹57.03.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Andhra Paper is ₹1,701 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Andhra Paper Ltd is a average quality company.
The key valuation ratios of Andhra Paper Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Andhra Paper Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Andhra Paper Ltd
International Paper APPM Limited previously known as Andhra Pradesh Paper Mills (APPM) was incorporated in 1964 to manufacture paper. The company is part of L N Bangur group which have business interest in area of textile manufacturing, tea plantation, wind energy generation and trading and investment business. In 2001, Andhra Pradesh Paper Mills acquired Coastal Papers.
Company owns two manufacturing facilities having a cumulative production capacity of 1,74,500 TPA. Company owns eight paper machines. It manufactures paper of M.F and M.G quality in the range of 21 to 250 GSM. Company uses raw materials such as Casuarina, Subabul, Eucalyptus, Mixed Hard Woods and Bamboo.
The company manufactures paper of various grades such as writing, printing, industrial, newsprint and copier. APPM has also set up a 34 MW Double Extraction Condensing type turbine to meet its power requirements.
In 2011, The Andhra Pradesh Paper Mills Ltd. was acquired by International Paper (IP), a $30 billion American pulp and paper company founded in 1898. In the first significant domestic acquisition by a foreign paper company, IP bought 75% stake in the company. IP is the largest pulp and paper company in the world, with approximately 61,500 employees across 24 countries. It is headquartered in Memphis, Tennessee, USA.
In December, 2013, the company was renamed to “International Paper APPM Limitedâ€. The name change intended to recognize the parentage of International Paper, while maintaining the link to the history and positioning of the Andhra Paper Mills brand. This is also to ensure that we direct future investments in brand-building around the IP brand leveraging our global presence and technology.
Company has clientele namely MODI XEROX, INDO NATIONAL, MacMillan, Navaneet Publications and many more.
Company exports to countries that include were
Awards
APPM received Best Management Award - 2005 for the outstanding contribution in the maintenance of industrial relations, labour welfare and productivity from the Government of Andhra Pradesh.
Company received Gold Award in the paper sector as recognition of its outstanding achievement in safety management awarded by the Greentech Foundation.
Company received ISO 9001:2000 certification for its quality management
Milestones
2000
Acquired Coastal Paper
2010
Started PM6 Paper Machine.
Andhra Pradesh Paper Mills Ltd awarded 'FSC Certification' for promoting responsible raw material management.
2011
The Andhra Pradesh Paper Mills Ltd. was acquired by International Paper (IP)
2013
The company was renamed to “International Paper APPM Limitedâ€.
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