Is South India Paper Mills Ltd (SIPAPER) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that South India Paper Mills Ltd is a below average quality company .

Is South India Paper Mills Ltd (SIPAPER) undervalued or overvalued?

The key valuation ratios of South India Paper Mills Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone .

What is South India Paper Mills Ltd (SIPAPER) share price return in the past 10 years?

South India Paper Mills Ltd share price has declined -0.6% annually (CAGR) over the past ten years.

Is South India Paper Mills Ltd (SIPAPER) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of South India Paper Mills Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of South India Paper Mills Ltd (SIPAPER)?

Company share prices are keep on changing according to the market conditions. The current trading price of South India Paper Mills Ltd (SIPAPER) on 07-May-2026 13:19:00 at 13:19 is 94.99.

What is the P/E ratio of South India Paper Mills?

The latest standalone P/E ratio of South India Paper Mills as of 07-May-2026 is 44.55.

What is the P/B ratio of South India Paper Mills Ltd (SIPAPER)?

The latest standalone P/B ratio of South India Paper Mills Ltd (SIPAPER) as of 07-May-2026 is 0.80.

What is the 52-week high and low of South India Paper Mills Ltd (SIPAPER)?

The 52-week high of South India Paper Mills Ltd (SIPAPER) is Rs. 99.00 and the 52-week low is Rs. 65.10.

South India Paper Mills Ltd (SIPAPER) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: South India Paper Mills Ltd (SIPAPER)
Brand: South India Paper Mills

South India Paper Mills Ltd (SIPAPER) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

South India Paper Mills Ltd (SIPAPER)

BSE: 516108 NSE: SIPAPER

Key Metrics

Market Cap

₹174 Cr.

P/E Ratio

44.55

Price to Book (P/B)

0.80

Price to Sales (P/S)

0.42

EV/EBITDA

8.17

Return on Capital Employed (ROCE)

1.79%

Current Price

₹95

Return on Equity (ROE)

-4.47%

Return on Assets (ROA)

-2.14%

Operating Profit Margin

5.9%

Net Profit Margin

-2.61%

Gross Profit Margin

0.8%

Book Value per Share

₹115.9

Sales Growth (YoY)

18.25%

Sales Growth (3 Years)

6.54%

Operating Profit Growth (1 Year)

27.35%

Operating Profit Growth (3 Years)

-16.54%

Net Profit Growth (1 Year)

NA%

52-Week Low / High

₹65 / 99

Net Profit Growth (3 Years)

NAN%

Dividend Yield

0.00%

Promoter Holding

27.81%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Stock return of South India Paper Mills Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of -0.8% based on the current price.

Q.1 Revenue growth of South India Paper Mills Ltd?

South India Paper Mills Ltd revenue growth is 18.3% for FY-2025, which is above its 5-year CAGR of 11.16%, indicating faster growth.

Q.1 Which industry/sub-sector does South India Paper Mills Ltd belong to?

South India Paper Mills Ltd belongs to the Paper & Stationary sector, operating specifically within the Paper & Paper Products segment.

Q.1 Promoter shareholding and pledge status of South India Paper Mills Ltd?

Promoters hold 27.81% of the South India Paper Mills Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of South India Paper Mills Ltd vs industry peers?

South India Paper Mills Ltd revenue CAGR is 11.16%, compared to the industry median CAGR of 6.51%, indicating faster growth and gaining its market share.

DeciZen - make an informed investing decision on South India Paper

Based on:

Data

Overall Rating ⓘ
Login to view analysis. M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation ⓘ

3. Price Trend

South India Paper Mills stock performance

Key Ratios

Is South India Paper Mills Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	25.7%	12.8%	3.1%	14.5%	12.6%	12.5%	9.2%	-1.8%	0.2%	1.8%	-
Value Creation Index ⓘ	0.8	-0.1	-0.8	0.0	-0.1	-0.1	-0.3	-1.1	-1.0	-0.9	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	207	195	135	243	218	227	305	288	312	369	414
Sales YoY Gr.	-	-5.6%	-31%	80.1%	-10.3%	4.2%	34.7%	-5.7%	8.5%	18.3%	-
Adj EPS ⓘ	12.4	7.6	0.1	12.3	10.6	11.1	13	-13.4	-7.4	-5.7	2.1
YoY Gr.	-	-38.7%	-98.6%	11118.2%	-13.9%	4.5%	16.9%	-203.2%	NA	NA	-
BVPS (₹) ⓘ	84.7	94.2	93.1	104	112.9	123.7	137.4	124.4	117.6	112.6	115.9
Adj Net Profit ⓘ	18.5	11.4	0.2	18.5	15.9	16.7	19.5	-25.1	-13.8	-10.7	4
Cash Flow from Ops. ⓘ	38.2	26.2	-1.7	38.9	39.6	21.9	38.9	0.7	-18.4	40.3	-
Debt/CF from Ops. ⓘ	0.9	1.7	-32.1	1	1.1	4.6	5.1	268.1	-10.7	4.3	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	6.7%	11.2%	6.5%	18.3%
Adj EPS ⓘ	-191.8%	-188.3%	-176%	NA
BVPSⓘ	3.2%	-0.1%	-6.4%	-4.2%
Share Price	-0.6%	3.1%	-7%	18.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	15.7	8.5	0.1	12.5	9.8	9.4	9.9	-11.4	-6.1	-5	1.8
Op. Profit Mgn % ⓘ	17.6	15.6	9.7	15.3	15.9	16.5	12.3	-1.7	5.5	5.9	10
Net Profit Mgn % ⓘ	9	5.8	0.1	7.6	7.3	7.3	6.4	-8.7	-4.4	-2.9	1
Debt to Equity ⓘ	0.3	0.3	0.4	0.2	0.3	0.5	1	0.8	0.9	0.8	-
Working Cap Days ⓘ	131	142	226	134	157	161	121	124	123	114	54
Cash Conv. Cycle ⓘ	70	70	131	78	82	83	70	74	79	84	-0

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	2.1	-
TTM Sales (₹ Cr.)	414	-
BVPS (₹) ⓘ	115.9	-
Reserves (₹ Cr.) ⓘ	199	-
P/BV ⓘ	0.80	-
PE ⓘ	44.55	-

From the Market
52 Week Low / High (₹)	65.10 / 99.00
All Time Low / High (₹)	3.10 / 195.00
Market Cap (₹ Cr.)	174
Equity (₹ Cr.)	18.8
Face Value (₹)	10
Industry PE ⓘ	17.9

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of South India Paper - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	207	195	135	242	218	227	305	288	312	369
Operating Expenses ⓘ +	171	165	122	206	183	189	268	294	295	348
Manufacturing Costs	42	42	32	56	51	49	66	82	73	71
Material Costs	97	92	65	111	93	100	156	164	172	226
Employee Cost	16	18	14	21	24	26	27	28	29	29
Other Costs ⓘ	15	12	11	17	15	15	19	20	20	22
Operating Profit ⓘ	36	30	12	37	35	37	37	-6	17	22
Operating Profit Margin (%)	17.4%	15.6%	9.2%	15.1%	15.9%	16.5%	12.3%	-2.1%	5.5%	5.9%
Other Income ⓘ +	0	1	2	1	1	1	1	1	2	1
Exceptional Items ⓘ	8	0	0	0	0	3	3	13	-0	1
Interest ⓘ	2	4	5	5	4	5	6	16	19	20
Depreciation ⓘ	8	10	9	9	10	10	9	16	18	17
Profit Before Tax ⓘ	35	18	1	23	21	27	26	-24	-18	-13
Tax ⓘ	11	6	-0	5	5	8	4	-7	-4	-3
Profit After Tax	24	12	1	18	16	19	22	-17	-13	-10
PAT Margin (%)	11.7%	6.1%	0.7%	7.6%	7.3%	8.4%	7.1%	-5.8%	-4.3%	-2.6%
Adjusted EPS (₹)	16.1	8.0	0.6	12.2	10.6	12.7	14.4	-8.9	-7.2	-5.1
Dividend Payout Ratio (%)	18.70%	18.80%	157.40%	12.30%	14.10%	7.90%	6.90%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	127	141	140	156	169	186	206	233	220	211
Share Capital ⓘ	15	15	15	15	15	15	15	19	19	19
Reserves ⓘ	112	126	125	141	154	171	191	215	202	192
Debt +	29	44	47	32	37	95	188	166	172	151
Long Term Debt	14	30	36	32	26	64	141	133	107	83
Short Term Debt	15	14	12	0	11	30	47	33	65	68
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	18	15	18	22	13	16	22	34	17	19
Others Liabilities ⓘ	42	30	30	29	34	42	54	57	47	63
Total Liabilities ⓘ	216	230	235	239	253	339	471	490	457	443
Fixed Assets
Net Fixed Assets ⓘ +	114	136	130	132	128	120	304	343	331	317
Gross Block	190	221	218	230	235	237	431	486	439	442
Accumulated Depreciation	75	85	88	97	107	117	126	142	108	125
CWIP ⓘ	16	11	15	8	15	106	39	17	0	0
Investments ⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	27	28	35	36	32	29	36	42	41	48
Trade Receivables	36	30	38	40	30	46	48	44	59	58
Cash Equivalents	4	5	2	8	13	9	27	33	1	1
Others Assets ⓘ	18	21	14	15	35	27	16	10	24	18
Total Assets ⓘ	216	230	235	239	253	339	471	490	457	443

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	38	26	-2	39	40	22	39	1	-18	40
PBT ⓘ	35	18	1	23	21	27	26	-24	-18	-13
Adjustment ⓘ	9	13	12	13	13	11	12	19	35	35
Changes in Working Capital ⓘ	2	1	-14	7	8	-12	4	9	-36	18
Tax Paid ⓘ	-8	-5	-0	-5	-4	-4	-3	-3	0	0
Cash Flow From Investing Activity ⓘ +	-52	-29	1	-12	-31	-77	-105	-13	-1	2
Capex	-53	-30	1	-13	-32	-79	-105	-14	-2	1
Net Investments	0	0	0	0	0	0	0	0	0	0
Others ⓘ	0	1	0	0	1	2	-0	0	0	0
Cash Flow From Financing Activity ⓘ +	12	3	-2	-21	-3	51	84	18	-12	-41
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	45	0	0
Net Proceeds from Borrowing ⓘ	9	16	10	-3	-6	39	82	11	-28	-28
Interest Paid ⓘ	-2	-4	-5	-4	-4	-5	-13	-19	-18	-18
Dividend Paid ⓘ	-4	-4	-2	-1	-2	-2	-2	-2	-0	-0
Others ⓘ	8	-5	-4	-12	10	20	17	-18	33	6
Net Cash Flow ⓘ	-2	1	-2	5	6	-4	18	5	-32	1

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	20.46	8.91	0.68	12.42	9.8	10.73	11.06	-7.59	-5.92	-4.47
ROCE (%)	25.67	12.84	3.06	14.45	12.64	12.54	9.18	-1.82	0.18	1.79
Asset Turnover Ratio	1.16	0.93	0.58	1.02	0.88	0.77	0.75	0.6	0.66	0.82
PAT to CFO Conversion(x)	1.58	2.17	-2	2.17	2.5	1.16	1.77	N/A	N/A	N/A
Working Capital Days
Receivable Days	55.20	58.50	92.70	58.70	58.10	61.10	56.50	58.40	60.20	58.10
Inventory Days	47.90	48.40	84.90	53.80	57.60	49.60	38.80	49.40	48.90	44.10
Payable Days	59	66.60	92.10	64.50	68.80	53	44.60	63	54.50	29

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Announcements

South India Paper Mills Ltd FAQs

The current trading price of South India Paper on 07-May-2026 13:19 is ₹94.99.

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 06-May-2026 the market cap of South India Paper stood at ₹174.4 Cr

The latest P/E ratio of South India Paper as of 06-May-2026 is 44.55.

The latest P/B ratio of South India Paper as of 06-May-2026 is 0.80.

The 52-week high of South India Paper is ₹99.00 and the 52-week low is ₹65.10.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of South India Paper is ₹414 ( Cr.) .

About South India Paper Mills Ltd

South India Paper Mills (SIPM) was incorporated in 1959 and promoted by the South India Paper group. The company is engaged in paper business. It manufactures paper and paperboards such as cartons. The company caters to the needs of various segments of paper-based industries such as newsprint, writing paper, packaging, etc. SIPM is also engaged in power cogeneration. It generates steam process requirements as well as power generation by fluidised bed combustion (FBC) boilers. The plant is located at Chikkayanachatra (Mysore) in Karnataka. The total installed capacity of the company is 56,000 MT of paper and paper boards per annum. SIPM is a 47-year old public limited company listed on BSE. SIPM primarily manufactures corrugating raw material (Kraft, Liner board, Test Liner & Fluting).

SIPM's clientele includes top FMCG companies and several EOUs. The company has stake on a box manufacturing company as well. Future plans include installation of a state-of-the-art sheet plant to cater to the box manufacturer's requirement. South India Paper Mills Limited is an India-based company.

Milestones:

1959 - The company was incorporated and acquired a paper mill for a consideration of Rs 7.16 lakh.

1968- 1970 - The company increased its capacity to 24 TPD.

1982 - SIPM's capacity was further enhanced to 45 TPD. The company's object is to manufacture paper and paper boards.

1996- The high pressure power boiler became operational from February. This is expected to insulate the cost of fuel by virtue of supply shortages and off season scarcities.

1998 - The company undertook an expansion project for setting up (i) Electro static precipitator system (ii) High pressure boiler of 25 tph capacity (iii) New paper machine (iv)Turbo generating set of 3.5 MW capacity.

Business areas of the company:

The company is engaged in the manufacture of paper and paper products. It is also engaged in the generation of power. The company operates in two segments: Paper & Paper Products and Power. Its products include Kraft liners / Test liners, MG Kraft Paper, MF Printing and Writing & Newsprint.

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
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South India Paper Mills Ltd (SIPAPER) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

South India Paper Share Price