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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
₹155 -0.45 (-0.29%)
As on 18-Sep'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
₹155 -0.45 (-0.29%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹242 Cr.
Current Price
₹155
52-Week Low / High
₹116 / 177
TTM EPS
₹19.8
TTM Sales
₹412 Cr.
Book Value per Share
₹460.9
P/E Ratio
7.82
Higher than its 5-year historical median
Industry PE
17.4
Price to Book (P/B)
0.34
Lower than its 5-year historical median
Price to Sales (P/S)
0.59
Lower than its 5-year historical median
EV/EBITDA
5.66
Higher than its 5-year historical median
Dividend Yield
1.61%
Profitability Efficiency
Return on Equity (ROE)
4.72%
In line with industry median
Return on Capital Employed (ROCE)
5.06%
Underperforms industry median
Return on Assets (ROA)
3.92%
Operating Profit Margin
4.5%
Net Profit Margin
7.99%
Gross Profit Margin
9.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-6.05%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-49.84%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-20.39%
Asset Quality
Promoter Holding
44.93%
Pledged shares (%) of Promoter's holding (%)
47.21%
Reserves
₹704 Cr.
Equity
₹15.6 Cr.
Face Value
₹10
All Time Low / High
₹3.10 / 318.20
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Star Paper Mills Ltd a good quality company?
Star Paper Mills 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 Star Paper Mills Ltd performance compare with that of its Peers?
Revenue growth of Star Paper Mills Ltd vs industry peers?
Star Paper Mills Ltd revenue CAGR is 11.93%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
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.
Stock return of Star Paper Mills Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.7% 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.
Star Paper Mills 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 % ⓘ | 32.2% | 19.2% | 12.1% | 10.5% | 5.1% | 8.6% | 14.9% | 13.2% | 8.2% | 5.1% | - |
| Value Creation Index ⓘ | 1.3 | 0.4 | -0.1 | -0.3 | -0.6 | -0.4 | 0.1 | -0.1 | -0.4 | -0.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 324 | 347 | 378 | 341 | 233 | 331 | 493 | 444 | 436 | 410 | 412 |
| Sales YoY Gr. | - | 6.9% | 9% | -9.7% | -31.6% | 41.6% | 49.1% | -9.8% | -1.8% | -6.1% | - |
| Adj EPS ⓘ | 38.4 | 33.2 | 33.5 | 22.8 | 11.1 | 23.4 | 47.1 | 39.5 | 24.5 | 16.4 | 19.8 |
| YoY Gr. | - | -13.5% | 0.9% | -32.1% | -51.3% | 111.4% | 100.9% | -16.1% | -37.9% | -33.1% | - |
| BVPS (₹) ⓘ | 226.1 | 260.1 | 291.7 | 312.8 | 321.6 | 342.7 | 380.8 | 414.7 | 436.2 | 453.8 | 460.9 |
| Adj Net Profit ⓘ | 60 | 51.9 | 52.4 | 35.5 | 17.3 | 36.6 | 73.5 | 61.7 | 38.3 | 25.6 | 31 |
| Cash Flow from Ops. ⓘ | 38.9 | 35.5 | 30.8 | 17.5 | 28.5 | 18.7 | 46.8 | 25.8 | 14.8 | 29.1 | - |
| Debt/CF from Ops. ⓘ | 0.1 | 0 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.6% | 11.9% | -5.9% | -6.1% | ||||
| Adj EPS ⓘ | -9% | 8.1% | -29.6% | -33.1% | ||||
| BVPSⓘ | 8.1% | 7.1% | 6% | 4% | ||||
| Share Price | 4.7% | 1.4% | -11.5% | -12% | ||||
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 % ⓘ | 28.8 | 13.7 | 12.2 | 7.5 | 3.5 | 7.1 | 13 | 9.9 | 5.8 | 3.7 | 4.3 |
| Op. Profit Mgn % ⓘ | 21.9 | 20.9 | 13.1 | 14.1 | 9.1 | 9.7 | 16.3 | 12.8 | 8.5 | 4.5 | 3.6 |
| Net Profit Mgn % ⓘ | 18.5 | 15 | 13.9 | 10.4 | 7.4 | 11.1 | 14.9 | 13.9 | 8.8 | 6.3 | 7.5 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 57 | 63 | 65 | 88 | 143 | 103 | 79 | 102 | 124 | 137 | 160 |
| Cash Conv. Cycle ⓘ | -41 | -13 | 2 | 19 | 49 | 45 | 37 | 59 | 79 | 89 | 138 |
Valuation of Star Paper Mills - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 47.21 | 47.21 | 47.21 | 47.21 | 47.21 | 47.21 | 47.21 | 47.21 | 47.21 | 47.21 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 324 | 347 | 378 | 341 | 233 | 331 | 493 | 444 | 436 | 410 |
| Operating Expenses ⓘ + | 253 | 274 | 328 | 293 | 212 | 299 | 413 | 387 | 399 | 391 |
| Operating Profit ⓘ | 71 | 72 | 49 | 48 | 21 | 32 | 80 | 57 | 37 | 18 |
| Operating Profit Margin (%) | 21.9% | 20.9% | 13.0% | 14.1% | 9.1% | 9.7% | 16.2% | 12.8% | 8.4% | 4.5% |
| Other Income ⓘ + | 2 | 5 | 7 | 7 | 9 | 18 | 22 | 32 | 24 | 24 |
| Interest ⓘ | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Depreciation ⓘ | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 6 | 7 |
| Profit Before Tax ⓘ | 68 | 72 | 52 | 49 | 25 | 44 | 83 | 81 | 53 | 34 |
| Tax ⓘ | 7 | 18 | -2 | 12 | 7 | 8 | 18 | 17 | 12 | 1 |
| Profit After Tax | 60 | 54 | 53 | 37 | 18 | 37 | 66 | 64 | 41 | 33 |
| PAT Margin (%) | 18.6% | 15.7% | 14.1% | 10.9% | 7.5% | 11.1% | 13.3% | 14.4% | 9.4% | 8.0% |
| Adjusted EPS (₹) | 38.7 | 34.8 | 34.1 | 23.9 | 11.2 | 23.5 | 42.1 | 41.0 | 26.4 | 21.0 |
| Dividend Payout Ratio (%) | 5.20% | 7.20% | 7.30% | 10.50% | 22.30% | 14.90% | 11.90% | 9.80% | 13.30% | 11.90% |
| 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 + | 353 | 406 | 455 | 488 | 502 | 535 | 594 | 647 | 681 | 708 | |
| Debt + | 4 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 43 | 42 | 39 | 44 | 29 | 29 | 30 | 24 | 21 | 20 | |
| Others Liabilities ⓘ | 114 | 113 | 96 | 98 | 119 | 108 | 104 | 118 | 131 | 110 | |
| Total Liabilities ⓘ | 514 | 562 | 592 | 630 | 650 | 672 | 728 | 790 | 833 | 838 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 404 | 405 | 410 | 412 | 415 | 415 | 414 | 425 | 424 | 420 | |
| CWIP ⓘ | 2 | 7 | 4 | 7 | 6 | 3 | 3 | 3 | 2 | 4 | |
| Investments ⓘ | 46 | 78 | 81 | 89 | 94 | 113 | 47 | 194 | 203 | 247 | |
| Inventories | 33 | 44 | 49 | 80 | 76 | 75 | 96 | 115 | 135 | 117 | |
| Trade Receivables | 7 | 8 | 7 | 4 | 0 | 6 | 3 | 4 | 6 | 7 | |
| Cash Equivalents | 6 | 4 | 24 | 23 | 41 | 39 | 144 | 25 | 30 | 12 | |
| Others Assets ⓘ | 16 | 15 | 16 | 15 | 17 | 21 | 23 | 23 | 33 | 31 | |
| Total Assets ⓘ | 514 | 562 | 592 | 630 | 650 | 672 | 728 | 790 | 833 | 838 | |
| 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 ⓘ + | 39 | 35 | 31 | 17 | 29 | 19 | 47 | 26 | 15 | 29 |
| Cash Flow From Investing Activity ⓘ + | -35 | -31 | -28 | -4 | -25 | -13 | -41 | -9 | 4 | -36 |
| Cash Flow From Financing Activity ⓘ + | -3 | -7 | -5 | -8 | -5 | -5 | -7 | -9 | -8 | -7 |
| Net Cash Flow ⓘ | 1 | -2 | -2 | 5 | -2 | 0 | -1 | 7 | 12 | -13 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 28.99 | 14.3 | 12.35 | 7.9 | 3.54 | 7.07 | 11.63 | 10.31 | 6.2 | 4.72 |
| ROCE (%) | 32.23 | 19.16 | 12.08 | 10.54 | 5.14 | 8.62 | 14.86 | 13.16 | 8.18 | 5.06 |
| Asset Turnover Ratio | 1 | 0.65 | 0.68 | 0.58 | 0.38 | 0.53 | 0.74 | 0.62 | 0.57 | 0.52 |
| PAT to CFO Conversion(x) | 0.65 | 0.65 | 0.58 | 0.46 | 1.61 | 0.51 | 0.71 | 0.41 | 0.37 | 0.88 |
| Working Capital Days | ||||||||||
| Receivable Days | 9 | 7.40 | 6.90 | 5.60 | 2.90 | 3.30 | 3 | 2.50 | 3.80 | 5.20 |
| Inventory Days | 31.80 | 40 | 43.50 | 66.30 | 115.50 | 79.50 | 60.50 | 81.50 | 98.40 | 105 |
| Payable Days | 249.20 | 202.70 | 160.20 | 161.30 | 191.10 | 106.70 | 81.10 | 69.50 | 46.50 | 43.60 |
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Star Paper Mills Ltd FAQs
The current trading price of Star Paper Mills on 18-Sep-2026 16:59 is ₹155.0.
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 17-Sep-2026 the market cap of Star Paper Mills stood at ₹241.9 Cr
The latest P/E ratio of Star Paper Mills as of 17-Sep-2026 is 7.82.
The latest P/B ratio of Star Paper Mills as of 17-Sep-2026 is 0.34.
The 52-week high of Star Paper Mills is ₹177.3 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 ₹412 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Star Paper Mills Ltd is a average 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 Fair 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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