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Star Paper Mills Ltd (STARPAPER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 516022 NSE: STARPAPER Paper & Paper Products | Small Cap | Star Paper Mills Share Price

₹138 -1.65 (-1.18%)

As on 04-Jun'26 16:59

Star Paper Mills Ltd (STARPAPER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 516022 NSE: STARPAPER Paper & Paper Products | Small Cap | Star Paper Mills Share Price

₹138 -1.65 (-1.18%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹215 Cr.
Current Price
₹138
52-Week Low / High
₹116 / 190
TTM EPS
₹21
TTM Sales
₹410 Cr.
Book Value per Share
₹453.8
P/E Ratio
6.58
Higher than its 5-year historical median
Industry PE
16.9
Price to Book (P/B)
0.30
Lower than its 5-year historical median
Price to Sales (P/S)
0.53
Lower than its 5-year historical median
EV/EBITDA
4.83
Higher than its 5-year historical median
Dividend Yield
2.27%
Profitability Efficiency
Return on Equity (ROE)
6.20%
Outperforms industry median
Return on Capital Employed (ROCE)
8.18%
Outperforms industry median
Return on Assets (ROA)
5.07%
Operating Profit Margin
8.4%
Net Profit Margin
9.43%
Gross Profit Margin
12.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-1.83%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-35.41%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-35.72%
Asset Quality
Promoter Holding
44.93%
Pledged shares (%) of Promoter's holding (%)
47.21%
Reserves
₹693 Cr.
Equity
₹15.6 Cr.
Face Value
₹10
All Time Low / High
₹3.10 / 318.20

Star Paper Mills stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Star Paper Mills Ltd a good quality company?
Star Paper Mills Ltd is a good quality company, based on a consistently good 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 Star Paper Mills Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Star Paper Mills Ltd vs industry peers?
Star Paper Mills Ltd revenue CAGR is 5.06%, compared to the industry median CAGR of 5.29%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Star Paper Mills Ltd?
Promoters hold 44.93% of the Star Paper Mills Ltd, with 47.21% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Star Paper Mills Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 13.7% based on the current price.

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)

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 end.

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.
Star Paper Mills Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 35.6%32.2%19.2%12.1%10.5%5.1%8.6%14.9%13.2%8.2%-
Value Creation
Index
1.51.30.4-0.1-0.3-0.6-0.40.1-0.1-0.4-

Growth Parameters

Sales 272324347378341233331493444436410
Sales YoY Gr.-19%6.9%9%-9.7%-31.6%41.6%49.1%-9.8%-1.8%-
Adj EPS 10.638.433.233.522.811.123.447.139.524.521
YoY Gr.-263.7%-13.5%0.9%-32.1%-51.3%111.4%100.9%-16.1%-37.9%-
BVPS (₹) 40.7226.1260.1291.7312.8321.6342.7380.8414.7436.2453.8
Adj Net
Profit
16.56051.952.435.517.336.673.561.738.333
Cash Flow from Ops. 12.138.935.530.817.528.518.746.825.814.8-
Debt/CF from Ops. 0.60.100.1000000.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.4%5.1%9.7%-1.8%
Adj EPS 9.8%1.5%1.5%-37.9%
BVPS30.2%6.9%8.4%5.2%
Share Price 12.3% -0.7% -8% -21%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
29.828.813.712.27.53.57.1139.95.84.7
Op. Profit
Mgn %
9.821.920.913.114.19.19.716.312.88.54.5
Net Profit
Mgn %
6.118.51513.910.47.411.114.913.98.88
Debt to
Equity
0.10000000000
Working Cap
Days
715763658814310379102124160
Cash Conv.
Cycle
-66-41-132194945375979138

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales272324347378341233331493444436
Operating Expenses + 246253274328293212299413387399
Manufacturing Costs11412414518014897149221176151
Material Costs797776929470100134143178
Employee Cost 26292828282325273031
Other Costs 27242528232325313839
Operating Profit 27717249482132805737
Operating Profit Margin (%) 9.8%21.9%20.9%13.0%14.1%9.1%9.7%16.2%12.8%8.4%
Other Income + 12577918223224
Exceptional Items 0000000-12-20
Interest 3111110111
Depreciation 4444555556
Profit Before Tax 21687252492544838153
Tax 4718-21278181712
Profit After Tax 17605453371837666441
PAT Margin (%) 6.1%18.6%15.7%14.1%10.9%7.5%11.1%13.3%14.4%9.4%
Adjusted EPS (₹)10.638.734.834.123.911.223.542.141.026.4
Dividend Payout Ratio (%)0%5.20%7.20%7.30%10.50%22.30%14.90%11.90%9.80%13.30%

Valuation of Star Paper Mills - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 64353406455488502535594647681
Share Capital 16161616161616161616
Reserves 48337390440473486519579632665
Debt +7421000000
Long Term Debt0000000000
Short Term Debt7421000000
Minority Interest0000000000
Trade Payables62434239442929302421
Others Liabilities 441141139698119108104118131
Total Liabilities 176514562592630650672728790833

Fixed Assets

Net Fixed Assets +85404405410412415415414425424
Gross Block260408413422429437441446463467
Accumulated Depreciation1754811172227323744
CWIP 1274763332
Investments 32467881899411347194203
Inventories2733444980767596115135
Trade Receivables10787406346
Cash Equivalents 564242341391442530
Others Assets 15161516151721232333
Total Assets 176514562592630650672728790833

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 12393531172919472615
PBT 21687252492544838153
Adjustment 111-73-1-01-8-16-9
Changes in Working Capital -19-17-16-13-2210-17-8-17-18
Tax Paid -1-13-14-11-9-6-10-20-22-11
Cash Flow From Investing Activity + -3-35-31-28-4-25-13-41-94
Capex -4-4-4-6-9-6-2-5-6125
Net Investments -0-32-26-24-20-13-38-14-121
Others 110-201112111
Cash Flow From Financing Activity + -10-3-7-5-8-5-5-7-9-8
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -3-1-1-1-1-1-0-1-1-1
Dividend Paid 00-4-5-5-4-4-5-8-6
Others -7-2-3-0-2-1-1-1-1-1
Net Cash Flow -11-2-25-20-1712

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)29.8328.9914.312.357.93.547.0711.6310.316.2
ROCE (%)35.5832.2319.1612.0810.545.148.6214.8613.168.18
Asset Turnover Ratio1.610.650.680.580.380.530.740.620.57
PAT to CFO Conversion(x)0.710.650.650.580.461.610.510.710.410.37
Working Capital Days
Receivable Days10.6097.406.905.602.903.3032.503.80
Inventory Days31.7031.804043.5066.30115.5079.5060.5081.5098.40
Payable Days305.50249.20202.70160.20161.30191.10106.7081.1069.5046.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *47.2147.2147.2147.2147.2147.2147.2147.2147.2147.21
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Star Paper Mills Ltd FAQs

The current trading price of Star Paper Mills on 04-Jun-2026 16:59 is ₹138.0.

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 03-Jun-2026 the market cap of Star Paper Mills stood at ₹215.4 Cr

The latest P/E ratio of Star Paper Mills as of 03-Jun-2026 is 6.58.

The latest P/B ratio of Star Paper Mills as of 03-Jun-2026 is 0.30.

The 52-week high of Star Paper Mills is ₹189.6 and the 52-week low is ₹116.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Star Paper Mills is ₹410 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Star Paper Mills Ltd is a good quality company.

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

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Star Paper Mills Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Star Paper Mills Ltd

Star Paper Mills is an integrated Pulp and Paper Mill. It produces a wide range of Industrial, Packaging and Cultural Papers catering to almost all segments of the Consumers. It has a distribution network throughout the country. The company is a part of Duncan Goenka Group. It caters to different segments and meets varied requirements of the customers. It has in-house R&D Unit recognised by Ministry of Science & Technology - Govt. of India. It is an ISO 9001:2000 & ISO 14001:2004 certified company.

Business area of the company

The company is engaged in the manufacturing and supply of Paper and Paper Board as its core business. It produces a wide range of Industrial Packaging and cultural paper catering to all segment of the consumers.

Products of the company

  • Cultural Papers
  • Industrial Papers
  • Other Grades

Awards and recognitions 

  • 2021-22: Gold/Excellence and Par Excellence Awards in Regional/National and International Quality Circle Conventions respectively. 
  • 2021-22: Award for outstanding achievement in ensuring Environmental sustainability in 8th CSR Awards by Greentech Foundation, New Delhi.
  • 2022-23: Par Excellence and Gold Awards in 36th National and 47th International Quality Circle Conventions respectively. 
  • 2022-23: Gold Award in ‘Integrated quality concepts-the gateway to global leadership’ by Quality Circle Forum of India, Kanpur Lucknow Chapter. 
  • 2022-23: Award for outstanding achievement in ensuring Environment Protection in 22nd Annual Greentech Environment Awards, 2022 organised by Greentech Foundation, Delhi.
  • 2023-24: Par Excellence and Gold Awards in 37th National and 48th International Quality Circle Conventions respectively organized by Quality Circle Forum of India, Hyderabad. 
  • 2023-24: Platinum Award in Apex India Green Leaf Award 2023 for water stewardship by Apex India Foundation. 
  • 2023-24: Award for outstanding achievement in ensuring Environment Excellence in 23rd Annual Greentech Environment Awards, 2023 organized by Greentech Foundation.
  • 2024-25: Excellent/Par Excellence Awards in 38th National Quality Circle Conventions held at Gwalior organized by Quality Circle Forum of India, Hyderabad. 
  • 2024-25: Gold Awards in 49th International Quality Circle Convention held in Sri Lanka organized by Sri Lanka Association for Advancement of Quality & Productivity (SLAAQP). 
  • 2024-25: Gold Awards in Chapter Convention on Quality Concepts held at Varanasi organized by Quality Circle Forum of India, Hyderabad.
  • 2024-25: Platinum Award under Apex India Green Leaf Award 2024 for water stewardship by Apex India Foundation. 
  • 2024-25: Award for outstanding achievement in ensuring Environment Protection in 24th Global Greentech Environment & Sustainability Awards, 2025 by Greentech Foundation, New Delhi.

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