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Subam Papers Ltd (544267)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544267 NSE: Paper & Paper Products | Small Cap | Subam Papers Share Price

₹221.10 5.10 (2.36%)

As on 04-Jun'26 16:59

Subam Papers Ltd (544267)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544267 NSE: Paper & Paper Products | Small Cap | Subam Papers Share Price

₹221.10 5.10 (2.36%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹608 Cr.
Current Price
₹221.1
52-Week Low / High
₹71 / 244
TTM EPS
₹3.9
TTM Sales
₹490 Cr.
Book Value per Share
₹143.3
P/E Ratio
56.13
Higher than its 5-year historical median
Industry PE
16.9
Price to Book (P/B)
1.54
Higher than its 5-year historical median
Price to Sales (P/S)
1.24
Higher than its 5-year historical median
EV/EBITDA
19.78
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
10.13%
Outperforms industry median
Return on Capital Employed (ROCE)
12.39%
Outperforms industry median
Return on Assets (ROA)
5.83%
Operating Profit Margin
11.9%
Net Profit Margin
5.7%
Gross Profit Margin
10.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
0.1%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-2.56%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-11.25%
Asset Quality
Promoter Holding
59.11%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹366 Cr.
Equity
₹27.5 Cr.
Face Value
₹10
All Time Low / High
₹70.77 / 244.00

Subam Papers stock performance

Key Ratios
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Quality

Not Good
Check detailed performance

Valuation

Overvalued

Check Valuation charts

Price Trend

Weak
Check Price chart
Q.1 Is Subam Papers Ltd a good quality company?
Subam Papers Ltd is a weak quality company, based on a inconsistent 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.

View More

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.

View More
How does Subam Papers Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Subam Papers Ltd vs industry peers?
Subam Papers Ltd revenue CAGR is 12.17%, compared to the industry median CAGR of 6.43%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Subam Papers Ltd?
Promoters hold 59.11% of the Subam Papers Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Subam Papers Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 139.16% based on the current price.
View More

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 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.
Subam Papers Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ14.4%5.4%17.7%12.4%-
Value Creation
Index ⓘ		0.0-0.60.3-0.1-

Growth Parameters ⓘ
Sales ⓘ318445448448490
Sales YoY Gr.-40.2%0.5%0.1%-
Adj EPS ⓘ16.80.617.7113.9
YoY Gr.--96.5%2956.9%-38%-
BVPS (₹) ⓘ99.297.9118.5134.2143.3
Adj Net
Profit ⓘ		27.30.928.925.611
Cash Flow from Ops. ⓘ18.938.228.127.1-
Debt/CF from Ops. ⓘ6.12.74.44.2-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA12.2%0.1%
Adj EPS ⓘNANA-13.1%-38%
BVPSⓘNANA10.6%13.3%
Share Price - - - 146.8%

Key Financial Parameters ⓘ

Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		16.90.616.410.12.8
Op. Profit
Mgn % ⓘ		12.44.912.211.95.1
Net Profit
Mgn % ⓘ		8.60.26.45.72.2
Debt to
Equity ⓘ		0.70.70.60.40
Working Cap
Days ⓘ		0149145158105
Cash Conv.
Cycle ⓘ		055619231

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Sales318445448448
Operating Expenses ⓘ + 278423393395
Manufacturing Costs4972124121
Material Costs209325236247
Employee Cost 11141515
Other Costs ⓘ 9121812
Operating Profit ⓘ 39225553
Operating Profit Margin (%) 12.4%4.9%12.2%11.9%
Other Income ⓘ + 7766
Exceptional Items ⓘ 0000
Interest ⓘ 3111312
Depreciation ⓘ 7141013
Profit Before Tax ⓘ 3743834
Tax ⓘ 93109
Profit After Tax 2712926
PAT Margin (%) 8.6%0.2%6.4%5.7%
Adjusted EPS (₹)16.80.617.711.0
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Subam Papers - 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'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 161159193312
Share Capital ⓘ 22223
Reserves ⓘ 160158191289
Debt +10692108114
Long Term Debt60555154
Short Term Debt46375760
Minority Interest0000
Trade Payables44483534
Others Liabilities ⓘ 25253446
Total Liabilities ⓘ 337324370506

Fixed Assets

Net Fixed Assets ⓘ +123135144162
Gross Block200227245275
Accumulated Depreciation7792101114
CWIP ⓘ 00200
Investments ⓘ 161515141
Inventories51334743
Trade Receivables737192122
Cash Equivalents 5552
Others Assets ⓘ 69654737
Total Assets ⓘ 337324370506

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 19382827
PBT ⓘ 3043834
Adjustment ⓘ 10141921
Changes in Working Capital ⓘ -2120-23-23
Tax Paid ⓘ 00-7-6
Cash Flow From Investing Activity ⓘ + -120-26-35-103
Capex -95-26-38-11
Net Investments -500-127
Others ⓘ -200335
Cash Flow From Financing Activity ⓘ + 101-12774
Net Proceeds from Shares ⓘ 000102
Net Proceeds from Borrowing ⓘ 58-5-43
Interest Paid ⓘ 00-13-12
Dividend Paid ⓘ -3000
Others ⓘ 46-723-19
Net Cash Flow ⓘ -00-0-2

Financial Ratio

PARTICULARSMar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)16.890.5916.3610.13
ROCE (%)14.425.3717.6712.39
Asset Turnover Ratio0.941.351.291.02
PAT to CFO Conversion(x)0.7380.971.04
Working Capital Days
Receivable Days83.605966.6087.10
Inventory Days59.1034.6032.8036.70
Payable Days77.3051.8064.6051.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Subam Papers Ltd FAQs

The current trading price of Subam Papers on 04-Jun-2026 16:59 is ₹221.1.

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 Subam Papers stood at ₹607.6 Cr

The latest P/E ratio of Subam Papers as of 03-Jun-2026 is 56.13.

The latest P/B ratio of Subam Papers as of 03-Jun-2026 is 1.54.

The 52-week high of Subam Papers is ₹244.0 and the 52-week low is ₹70.77.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Subam Papers is ₹490 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Subam Papers Ltd is a below average quality company.

The key valuation ratios of Subam Papers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

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

About Subam Papers Ltd

Subam Papers Limited was originally incorporated on October 06, 2004, as a Private Limited Company in the name of ‘Subam Papers Private Limited’ under the provisions of the Companies Act, 1956 with the Registrar of Companies, Tamil Nadu. Subsequently pursuant to a Special Resolution of its Shareholders passed in the Extra-Ordinary General Meeting held on March 08, 2024, the company was converted from a Private Limited Company to Public Limited Company and consequently, the name of the company was changed to ‘Subam Papers Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on May 15, 2024 by the Registrar of Companies, Central Processing Centre.

The company is engaged in the manufacturing of Kraft Paper and Paper Products. It proudly calls its self as a packaging solution providing company. Subam started its journey in the year 2004 with manufacturing of paper cones and later expanded the product base by adding Duplex board and Kraft paper in its portfolio. The company is not like the traditional paper manufactures, it does not manufacture its products from wood pulp but instead it uses waste paper as its raw material. It aims to preserve Mother Nature and tend to drive the company on the principle of recycling. The company leverages wastepaper as the primary raw material in the production of Kraft Paper and Duplex Board.

It is dedicated to sustainability, using recycled paper and cardboard in the production of Kraft Paper and Duplex Board. This not only reduces waste but also underscores its commitment to environmental responsibility. To further minimize its environmental impact, it harnesses renewable energy through its own wind and solar power installations. As an ISO 9001:2015 and FSC Recycled certified organization, it follows a strong Quality Management System. It ensures top-quality materials, workmanship, schedules, and public service, meeting all project standards. Its focus on quality control upholds high safety and environmental standards, consistently meeting client expectations. With its FSC Recycled certification, it shows its commitment to sustainability by using 100% recycled materials. Its success is due to understanding customer needs, offering cost-effective and consistent quality products, adhering to delivery schedules, being flexible with sizes, and providing responsive customer service. It has a well-trained team dedicated to meeting special quality requirements.

Business area of the company

The company is primarily engaged as manufacturers of Kraft Paper and Paper Products. The company caters to Indian as well as International market.

Products of the company

  • Duplex board
  • Kraft paper
  • Corrugated boxes
  • Paper cones
  • Paper tubes and cores

History and milestones

  • 2004: Incorporation of the Company.
  • 2005: Started its First Commercial Operation.
  • 2010: Installed Renewable Energy Windmill of capacity of 1.7 MW.
  • 2019: Received an award for excellence in Traffic Performance by V.O. Chidambaranar Port Trust, Tuticorin for importing highest number of TEUs as Consignee for year 2018-19.
  • 2019: Received FSC Certification from TÜV SÜV Czech, Accredited Certification Body.
  • 2021: Acquired a controlling shareholding in ‘Subam Paper & Boards Private Limited’, establishing it as its Subsidiary.
  • 2021: Commissioned paper products division of its subsidiary ‘Subam Paper & Boards Private Limited’.
  • 2022: Commissioned Solar Power Plant of 10 MW.
  • 2023: Installed odour and fungus free paper plant.
  • 2023: Received EN ISO 9001:2015 certificate for manufacturing and marketing of packaging paper.
  • 2024: Commissioned another Solar Power Plant of 4 MW thereby increasing the total solar power capacity to 14 MW.
  • 2024: Acquired a controlling shareholding in ‘Subam Paper & Boards Private Limited’, establishing it as its Wholly-Owned Subsidiary.
  • 2024: Conversion of the company from Private Limited Company to Public Limited Company.
  • 2024: Declaration of Bonus Shares in the proportion of 9:1 i.e. nine Bonus Equity Share for every one existing Equity Shares of the Company.

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