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Three M Paper Boards Ltd (544214)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544214 NSE: Paper & Paper Products | Small Cap | Three M Paper Boards Share Price

₹26.70 0.00 (0.00%)

As on 04-Jun'26 16:59

Three M Paper Boards Ltd (544214)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544214 NSE: Paper & Paper Products | Small Cap | Three M Paper Boards Share Price

₹26.70 0.00 (0.00%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹51 Cr.
Current Price
₹26.7
52-Week Low / High
₹18 / 54
TTM EPS
₹3.7
TTM Sales
₹297 Cr.
Book Value per Share
₹57.7
P/E Ratio
7.16
In line with its 5-year historical median
Industry PE
16.9
Price to Book (P/B)
0.46
Lower than its 5-year historical median
Price to Sales (P/S)
0.17
Lower than its 5-year historical median
EV/EBITDA
5.38
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
12.14%
Outperforms industry median
Return on Capital Employed (ROCE)
12.17%
Outperforms industry median
Return on Assets (ROA)
4.59%
Operating Profit Margin
8.3%
Net Profit Margin
3.76%
Gross Profit Margin
7.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-2.46%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-5.8%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-11.28%
Asset Quality
Promoter Holding
70.09%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹92 Cr.
Equity
₹19.2 Cr.
Face Value
₹10
All Time Low / High
₹18.27 / 82.70

Three M Paper Boards stock performance

Key Ratios
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M-Cap below 100cr DeciZen not available

Q.1 Is Three M Paper Boards Ltd a good quality company?
Three M Paper Boards Ltd is a quality company, based on a 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.

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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.

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How does Three M Paper Boards Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Three M Paper Boards Ltd vs industry peers?
Three M Paper Boards Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 5.29%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Three M Paper Boards Ltd?
Promoters hold 70.09% of the Three M Paper Boards Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Three M Paper Boards Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -30.67% based on the current price.
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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.
Three M Paper Boards 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ0%0%0%0%9.9%11.4%12.6%15.6%12.2%-
Value Creation
Index ⓘ		NANANANA-0.3-0.2-0.10.1-0.1-

Growth Parameters ⓘ
Sales ⓘ0000165313327272266297
Sales YoY Gr.-NANANANA89.5%4.6%-16.8%-2.5%-
Adj EPS ⓘ00001.2147.74.83.7
YoY Gr.-NANANANA-11.1%282.7%93.5%-37.7%-
BVPS (₹) ⓘ000028.53136.145.25457.7
Adj Net
Profit ⓘ		00001.51.45.210.49.27
Cash Flow from Ops. ⓘ000011.9-10.323.511.39.7-
Debt/CF from Ops. ⓘ00004.5-7.63.56.46.4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA-5.3%-2.5%
Adj EPS ⓘNANA66.5%-37.7%
BVPSⓘNANA20.3%19.5%
Share Price - - - -28.8%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		00004.13.511.919.211.26.7
Op. Profit
Mgn % ⓘ		00008.54.65.98.68.3NAN
Net Profit
Mgn % ⓘ		00000.90.41.63.83.52.4
Debt to
Equity ⓘ		00001.41.91.71.20.6-
Working Cap
Days ⓘ		000001041191481750
Cash Conv.
Cycle ⓘ		00000222741500

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Sales165.09312.90327.25272.23265.53
Operating Expenses ⓘ + 151.01298.46308.09248.95243.59
Manufacturing Costs44.4678.4089.8747.7547.48
Material Costs77.33164.02176.66166.73164.60
Employee Cost 9.0916.0214.3614.0112.86
Other Costs ⓘ 20.1340.0227.2020.4618.64
Operating Profit ⓘ 14.0814.4419.1723.2921.94
Operating Profit Margin (%) 8.5%4.6%5.9%8.6%8.3%
Other Income ⓘ + 0.473.102.503.782.97
Exceptional Items ⓘ 00000
Interest ⓘ 6.667.339.647.466.19
Depreciation ⓘ 5.565.636.056.626.67
Profit Before Tax ⓘ 2.344.595.9812.9912.06
Tax ⓘ 0.611.32-0.641.722.07
Profit After Tax 1.733.286.6211.269.99
PAT Margin (%) 1.1%1.1%2.0%4.1%3.8%
Adjusted EPS (₹)1.32.55.18.45.2
Dividend Payout Ratio (%)0%0%0%0%0%

Valuation of Three M Paper Boards - 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'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 37.3740.6447.2660.85103.84
Share Capital ⓘ 6.556.556.5513.4719.24
Reserves ⓘ 30.8234.0940.7147.3984.60
Debt +48.8769.9775.0765.9555.75
Long Term Debt27.1740.6343.5233.9723.77
Short Term Debt21.7029.3431.5531.9831.98
Minority Interest00000
Trade Payables39.4145.1444.9845.9358.76
Others Liabilities ⓘ 16.6125.7522.1222.4622.26
Total Liabilities ⓘ 142.26181.50189.43195.20240.61

Fixed Assets

Net Fixed Assets ⓘ +70.7869.0877.9676.2385.33
Gross Block130.69134.31149.23154.06169.77
Accumulated Depreciation59.9165.2371.2777.8484.44
CWIP ⓘ 0101.8314.85
Investments ⓘ 1.221.151.251.221.19
Inventories26.7020.4834.1729.3942.55
Trade Receivables28.9046.1142.5654.2058.90
Cash Equivalents 0.261.305.430.130.13
Others Assets ⓘ 14.3942.3928.0632.2037.66
Total Assets ⓘ 142.26181.50189.43195.20240.61

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + 11.93-10.3223.5311.339.69
PBT ⓘ 2.344.595.9812.9912.06
Adjustment ⓘ 15.0511.3613.6211.0510.53
Changes in Working Capital ⓘ -5.73-26.143.7-9.33-10.47
Tax Paid ⓘ 0.28-0.140.23-3.38-2.43
Cash Flow From Investing Activity ⓘ + -3.82-5.66-18.26-4.92-26.96
Capex -2.50-3.93-14.92-6.72-28.80
Net Investments -1.39-0.79-4.400.030.03
Others ⓘ 0.06-0.941.061.771.81
Cash Flow From Financing Activity ⓘ + -8.1416.16-5.45-11.7117.28
Net Proceeds from Shares ⓘ 0004.6739.83
Net Proceeds from Borrowing ⓘ 000-9.70-10.26
Interest Paid ⓘ -6.66-7.33-9.64-6.68-5.45
Dividend Paid ⓘ 00000
Others ⓘ -1.4923.494.190-6.83
Net Cash Flow ⓘ -0.040.18-0.18-5.300.01

Financial Ratio

PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)4.628.415.0520.8312.14
ROCE (%)9.911.3812.6115.5812.17
Asset Turnover Ratio1.161.931.761.421.22
PAT to CFO Conversion(x)6.9-3.153.551.010.97
Working Capital Days
Receivable Days63.9043.8049.5064.9077.70
Inventory Days5927.5030.5042.6049.50
Payable Days18694.1093.1099.50116.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Three M Paper Boards Ltd FAQs

The current trading price of Three M Paper Boards on 04-Jun-2026 16:59 is ₹26.70.

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 Three M Paper Boards stood at ₹51.36 Cr

The latest P/E ratio of Three M Paper Boards as of 03-Jun-2026 is 7.16.

The latest P/B ratio of Three M Paper Boards as of 03-Jun-2026 is 0.46.

The 52-week high of Three M Paper Boards is ₹53.95 and the 52-week low is ₹18.27.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Three M Paper Boards is ₹297 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Three M Paper Boards Ltd is a below average quality company.

The key valuation ratios of Three M Paper Boards 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 Weak which suggest that the price of Three M Paper Boards Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Three M Paper Boards Ltd

Three M Paper Boards Limited was incorporated as ‘Three-M-Paper Manufacturing Company Private Limited’ at Mumbai as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated July 26, 1989, issued by the RoC. Pursuant to conversion of the company from private to public, under section 43A(1A) of the Companies Act 1956, the name of the Company was changed from ‘Three-M-Paper Manufacturing Company Private Limited’ to ‘Three-M-Paper Manufacturing Company Limited’ by deleting the word Private, and a fresh certificate of incorporation consequent to change of name was issued on July 01, 1998. 

Pursuant to reconversion of the company from public to private, the name of the Company was changed from ‘Three-M-Paper Manufacturing Company Limited’ to ‘Three-M-Paper Manufacturing Company Private Limited’ and a fresh certificate of incorporation consequent to change of name was issued on October 05, 1999. Subsequently, the name of the company was changed from ‘Three-M-Paper Manufacturing Company Private Limited’ to ‘Three M Paper Boards Private Limited’ and a fresh certificate of incorporation issued by RoC recording the change in name was issued on January 11, 2024. Subsequently, the company was converted to a public limited company and the name of the company changed to ‘Three M Paper Boards Limited’ and a fresh certificate of incorporation dated January 29, 2024 was issued by the RoC.

The company is engaged in the business of manufacturing recycled paper-based Duplex Board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets. Its products are made out of 100 percent recycled waste paper and are completely biodegradable. The company sets out to undertake various innovations in both the product-development side as well as in manufacturing processes on a consistent basis. 

Its product portfolio includes a diverse range of coated boards tailored to meet the specific needs and preferences of its customers. From lightweight folding carton boards to heavy-duty packaging boards, it offers a comprehensive selection of grades, coatings, and finishes to enhance printability, durability, and shelf appeal. Moreover, the portfolio reflects the company's commitment to sustainability, as evidenced by its FSCR certification, ensuring responsible forest management practices. Technological upgrades and a flexible manufacturing facility enable the production of a diverse range of products aligned with market demand. Supported by a strong Pan-India distribution network and numerous dealers, the company maintains a significant market presence, enhancing accessibility nationwide.

Business area of the company

The company is engaged in the business of manufacturing recycled paper in India and the manufacturers of grey back and white back Duplex. The company is also engaged in the activity of generation of Wind Energy.

History and milestones

  • 1989: Incorporation of the company and Commencement of commercial Production. 
  • 2012: Achieved turnover of more than Rs 100 crore. 
  • 2016: Received permission from Commissioner of Customs, NS-III, for DPD i.e., availing Direct Port Delivery facility at Nhava Sheva Port. 
  • 2021: Received ‘Authorised Economic Operator - T1 Certificate’ from Central Board of Indirect Taxes and Customs, Ministry of Finance, Government of India.
  • 2023: Received ‘Responsible Resource Certification’ from FSC (Forest Stewardship Council) as company complies with FSC requirements of chain of custody in respect of purchasing of paper materials, production and sales of paper products (FSC Recycled), transfer system.
  • 2023: Received ISO Certification for 9001:2015 - Quality Management System. 
  • 2023: Received ISO Certification for 14001:2015 - Environmental Management System.
  • 2023: Received ISO Certification for 45001:2018 - Occupational Health and Safety Management System.

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