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Tamil Nadu Newsprint & Papers Ltd (TNPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531426 NSE: TNPL Paper & Paper Products | Small Cap | TN Newsprints Share Price

₹147.95 0.00 (0.00%)

As on 09-Jun'26 16:59

Tamil Nadu Newsprint & Papers Ltd (TNPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531426 NSE: TNPL Paper & Paper Products | Small Cap | TN Newsprints Share Price

₹147.95 0.00 (0.00%)

As on 09-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,024 Cr.
Current Price
₹148
52-Week Low / High
₹121 / 190
TTM EPS
₹35.8
TTM Sales
₹4,582 Cr.
Book Value per Share
₹334.6
P/E Ratio
4.13
Lower than its 5-year historical median
Industry PE
17
Price to Book (P/B)
0.44
Lower than its 5-year historical median
Price to Sales (P/S)
0.22
Lower than its 5-year historical median
EV/EBITDA
4.68
Lower than its 5-year historical median
Dividend Yield
2.38%
Profitability Efficiency
Return on Equity (ROE)
0.18%
Underperforms industry median
Return on Capital Employed (ROCE)
5.85%
Underperforms industry median
Return on Assets (ROA)
0.06%
Operating Profit Margin
9.6%
Net Profit Margin
0.08%
Gross Profit Margin
6.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-4.24%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-42.25%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-98.21%
Asset Quality
Promoter Holding
35.32%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,247 Cr.
Equity
₹69.2 Cr.
Face Value
₹10
All Time Low / High
₹11.05 / 499.00

Tamil Nadu Newsprint & Papers stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Semi Strong
Q.1 Is Tamil Nadu Newsprint & Papers Ltd a good quality company?
Tamil Nadu Newsprint & Papers 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 Tamil Nadu Newsprint & Papers Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Tamil Nadu Newsprint & Papers Ltd vs industry peers?
Tamil Nadu Newsprint & Papers Ltd revenue CAGR is 5.29%, 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 Tamil Nadu Newsprint & Papers Ltd?
Promoters hold 35.32% of the Tamil Nadu Newsprint & Papers Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Tamil Nadu Newsprint & Papers Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -5.1% 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 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.
Tamil Nadu Newsprint & Papers 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 11.9%12.8%5.1%10.2%11%2.3%4.4%20.6%14.3%5.9%-
Value Creation
Index
-0.2-0.1-0.6-0.3-0.2-0.8-0.70.50.0-0.6-

Growth Parameters

Sales 2,4182,9583,0984,0833,4712,7684,0205,1804,6904,4914,582
Sales YoY Gr.-22.3%4.8%31.8%-15%-20.3%45.2%28.8%-9.5%-4.2%-
Adj EPS 38.539-4.914.719.8-11.72.256.728.7-2.235.8
YoY Gr.-1.2%-112.7%NA34.9%-159.3%NA2476.4%-49.4%-107.6%-
BVPS (₹) 218.1246.3231.6238.6247.5230.7229.6280.9301.9301.5334.6
Adj Net
Profit
267270-34.2102137-81.215.2392199-15248
Cash Flow from Ops. 6202848338192414231,111806419570-
Debt/CF from Ops. 4.39.92.92.496.422.34.32.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.1%5.3%3.8%-4.2%
Adj EPS -172.6%-164.3%-199.5%-107.6%
BVPS3.7%4%9.5%-0.1%
Share Price -5.6% -0.6% -11.5% -12.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
19.716.8-2.16.38.2-4.9122.29.9-0.711.3
Op. Profit
Mgn %
23.925.213.616.418.19.89.418.915.89.610.5
Net Profit
Mgn %
119.1-1.12.54-2.90.47.64.2-0.35.4
Debt to
Equity
1.81.71.51.21.31.71.410.90.80.4
Working Cap
Days
1801411541231581881099011912971
Cash Conv.
Cycle
32355041606920215766-30

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,4182,9583,0984,0833,4712,7684,0205,1804,6904,491
Operating Expenses + 1,8512,2302,6983,4342,8632,5083,6624,2253,9594,069
Manufacturing Costs8371,0319351,2961,1799691,3411,9001,6021,477
Material Costs6116861,2501,5391,1019451,6361,4931,5031,748
Employee Cost 187247246268294307315349475471
Other Costs 215266266332289287370483379373
Operating Profit 567728400649608260358955730422
Operating Profit Margin (%) 23.4%24.6%12.9%15.9%17.5%9.4%8.9%18.4%15.6%9.4%
Other Income + 2238383938514993109103
Exceptional Items 000-73-1190000
Interest 122252245233223193156182223216
Depreciation 144208222227231235229264291304
Profit Before Tax 324306-28155191-99226033255
Tax 6442146161-3482151172
Profit After Tax 260265-4294130-65143882084
PAT Margin (%) 10.8%9.0%-1.4%2.3%3.8%-2.4%0.4%7.5%4.4%0.1%
Adjusted EPS (₹)37.538.2-6.113.618.8-9.42.156.030.10.5
Dividend Payout Ratio (%)20%19.60%-82.10%55%31.90%-31.90%193.20%8.90%13.30%557.40%

Valuation of TN Newsprints - 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 + 1,5101,7051,6031,6521,7131,5971,5891,9442,0902,087
Share Capital 69696969696969696969
Reserves 1,4401,6351,5341,5821,6441,5271,5201,8752,0202,018
Debt +2,5292,3951,9591,5301,7792,2831,9861,5521,4391,238
Long Term Debt1,9391,6521,4501,2471,2111,9471,6041,065880677
Short Term Debt590743509283567336382487559561
Minority Interest0000000000
Trade Payables5865417691,2089928341,1161,2821,0571,239
Others Liabilities 7949941,1941,1421,0931,2691,0841,3451,4601,319
Total Liabilities 5,4195,6345,5255,5315,5775,9835,7746,1236,0455,883

Fixed Assets

Net Fixed Assets +2,4394,1024,0733,8913,7373,5173,2984,4584,3034,104
Gross Block2,5844,4554,6444,7044,7804,7954,8046,2116,3326,417
Accumulated Depreciation1453535718131,0431,2781,5061,7532,0292,313
CWIP 1,815591814629391,357201655
Investments 1111011111
Inventories3875714848618466784439601,0281,025
Trade Receivables486534603442528377258330450400
Cash Equivalents 16212751612141164826
Others Assets 275346318272399459405238200272
Total Assets 5,4195,6345,5255,5315,5775,9835,7746,1236,0455,883

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 6202848338192414231,111806419570
PBT 379306-28155191-99226033255
Adjustment 256445452535447414379461495487
Changes in Working Capital 41-392423167-346109711-170-33990
Tax Paid -57-75-14-39-50-0-2-88-61-13
Cash Flow From Investing Activity + -894-90-115-47-207-682-353-101-136-162
Capex -903-99-122-54-213-685-356-107-142-169
Net Investments 0000000000
Others 9977643667
Cash Flow From Financing Activity + 270-253-574-849-36333-760-652-270-493
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -260-263-248-234-231-224-242-207-225-215
Dividend Paid -42-52-52-35-52-42-21-28-55-7
Others 57262-274-580247598-497-41711-271
Net Cash Flow -4-59144-77-174-25314-86

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)19.1716.46-2.555.87.73-3.930.921.9610.320.18
ROCE (%)11.9412.85.0610.1711.022.314.420.614.265.85
Asset Turnover Ratio0.560.610.60.790.690.550.740.890.80.8
PAT to CFO Conversion(x)2.381.07N/A8.711.85N/A79.362.082.01142.5
Working Capital Days
Receivable Days63.9055.5061.7043.404651.9026.6020.1029.1032.50
Inventory Days53.1052.2057.2055.908187.4046.9048.1074.2078.60
Payable Days257.10249.60149.30135.40183.40199.80117.40138.30132.30105

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Tamil Nadu Newsprint & Papers Ltd FAQs

The current trading price of TN Newsprints on 09-Jun-2026 16:59 is ₹147.9.

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 08-Jun-2026 the market cap of TN Newsprints stood at ₹1,024 Cr

The latest P/E ratio of TN Newsprints as of 08-Jun-2026 is 4.13.

The latest P/B ratio of TN Newsprints as of 08-Jun-2026 is 0.44.

The 52-week high of TN Newsprints is ₹190.1 and the 52-week low is ₹121.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of TN Newsprints is ₹4,582 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tamil Nadu Newsprint & Papers Ltd is a average quality company.

The key valuation ratios of Tamil Nadu Newsprint & Papers 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 Semi Strong which suggest that the price of Tamil Nadu Newsprint & Papers Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Tamil Nadu Newsprint & Papers Ltd

Tamil Nadu Newsprint and Papers Limited (TNPL) is an enterprise promoted by Government of Tamil Nadu. The Unit- I of TNPL at Kagithapuram, Karur district was commissioned in October 1985 with an installed capacity of 90,000 TPA of Newsprint/Fine Paper, in a single machine. Over a period of time, TNPL has added two more paper machines, besides upgrading the existing Paper machine. The increased production capacity of writing and printing papers has made TNPL as one of the largest bagasse- a residue of sugar cane, as primary raw material based paper mill in the world. With an increased demand, the company has expanded the pulping capacity by way of installing new chemical hardwood line, upgrading the chemical bagasse pulp line and setting up a new deinked pulp line besides adopting ECF bleaching in all the chemical pulp lines. Simultaneously, the company has also increased the power plant capacity to meet the steam and energy requirement of the expanded mill.

All the three modern high-speed paper machines are capable of producing verities of Writing and Printing papers and are equipped with state-of-the art automation to ensure consistent quality. The Company has earned a reputation as a pre-eminent player of manufacturing paper from bagasse having a world-wide creditability in the trade. Today, TNPL Unit-I is self sufficient in terms of power and pulp.

Business area of the company

TNPL is an acknowledged leader in the technology of manufacture of paper from bagasse.

Products

Paper Products

  • Elegant Printing (TES)
  • Radiant Print Stationery (RDS)
  • Radiant Print Platinum (RDP)
  • Pigmented Paper Platinum (TPP)
  • Print fine Platinum (PRF)
  • Tnpl Copier
  • Eco Maplitho (CEM)Dlx
  • Copy Crown
  • Hi-Tech Maplitho
  • Printers Choice (TPC)
  • Ace Marvel (CRT)
  • TNPL Greenpal

Paper Board Products

  • Aura Fold Plus (APF)
  • Aura Fold Premium (APM)
  • Aura Fold Eco (AFE)
  • Aura Fold Eco Blu (AEB)
  • Aura Fold Blu (AFB)
  • Aura Brilliant Plus (ABP)
  • Aura Grafik (AUG)
  • Aura Ace (ACE)
  • Aura Celebration (AUC)
  • Aura Celebration Plus (ACP)
  • Aura Flute (AFT)
  • Aura Flute Supreme (AFS)
  • Aura Pearl (AUP)
  • Aura Green Board (AGB)
  • Aura Green Match (AGM)
  • Aura Green Liner (AGL)
  • Aura Green Liner Uncoated (AGU)

Cement Products

  • Portland Pozzolana Cement (PPC)
  • Ordinary Portland Cement (OPC)

Awards

2016-17

  • TNPL has bagged the “IPMA Paper Mill of the Year award” for the year 2015-16 from Indian Paper Manufacturers’ Association (IPMA), New Delhi. This award is given once in two years for the overall best performance in Industry. TNPL has received this prestigious award five times out of seven occasions and three times in a row.
  • Dun & Bradstreet Mumbai has selected TNPL as the “Top Indian Company under the sector Paper & Pulp for “Dun & Bradstreet Corporate Awards 2017”, sixth time in a row.
  • TNPL’s project “Lime Sludge and Fly ash Management (LSFM) System” has been selected and awarded “Most Innovative Project” award for the “Best Practices in Waste Management during GreenCo Best Practices Award 2016 competition conducted by CII-Sohrabji Godrej Green Business Centre, Hyderabad on 15th June, 2016 at Hyderabad.
  • During the year, the company received the Top Export Award for the year 2014-15 from CAPEXIL (Chemicals & Allied Products Export Promotion Council of India). in recognition of the company’s export achievement in respect of Paper, Paper Board & Paper Products Panel.

2017-18

  • Mission Energy Foundation, Maharashtra has awarded TNPL “Fly ash utilization 2018 Award” in the category of Green Building Material - Cement.
  • TNPL has been awarded as “Water Stewardship Award ” during India Corporate Governance and Sustainability Vision Summit 2018 New Delhi conducted by Indian Chamber of Commerce.
  • TNPL has been selected and awarded as “Efficient Water Management Unit” at Confederation of Indian Industry (CII) for Excellence in Water Management - 2017 “Within the Fence” during Water Innovation Summit 2017 at New Delhi.
  • TNPL received “Most Innovative Project” award for the Environmental Best Practices Award 2017 conducted by CII-Sohrabji Godrej Green Business Centre, Hyderabad.
  • TNPL has bagged the 18th National Award for Excellence in Energy Management for the year 2017 from Confederation of Indian Industry.

2018-19

  • TNPL bagged the “Most Innovative Project” award for Environmental Best Practices Award 2018 conducted by CII - Sohrabji Godrej Green Business Centre, Hyderabad during June’18 at Chennai
  • TNPL bagged first place during “15th National Award for Excellence in Cost Management 2017 - “Good Performance Award” under the category MANUFACTURING - PUBLIC Organization - from the Institute of Cost Accountants of India.” during October 2018 at New Delhi.
  • TNPL received the IEI Industry Excellence Award 2018, from Institution of Engineers India (IEI, Kolkata). This award has been instituted to recognize industry leaders for their innovation, excellence in engineering and operation & services, their capacity to sustain excellence in a competitive manner.
  • TNPL have been awarded a Special Commendation for prestigious Golden Peacock National Quality Award for the year 2018-19, by the Institute of Directors (IOD), India. The award was presented to TNPL at a convention conducted by IOD at Dubai during March 2019.

2019-20

  • TNPL has been honoured with the “Water Stewardship Award” by M/s Indian Chamber of Commerce, Kolkatta for the third time (2018, 2019 and 2020) during India Corporate Governance and Sustainability Vision Summit 2020 held on 18.02.2020 at New Delhi.
  • TNPL being one among the 11 companies, received both shield and certificate for “Industry Excellence Award” during IEI Centenary Industry Excellence Award Ceremony, New Delhi in the month of November, 2019.
  • TNPL has been awarded the “Golden Peacock Award for Energy Efficiency” for the year 2019 by Institute of Directors (IOD), India during 21st World Congress on Environment Management and Climate Change and Golden Peacock Awards Presentation Ceremony at JW Marriot Hotel, Bengaluru in the month of July, 2019.

Milestones and achievements

2015-16

  • The company has set up a state-of-the-art Multilayer Double Coated Board Plant with an annual capacity of 200,000 MT per annum as a green field project in Mondipatti village, Manaparai taluk, Trichy District.
  • The Company has setup a Conversion Centre of Paper and packaging Board (CCPPB) Unit in the 38.40 acres of land in Mayanur in Karur District.
  • The Company has received the “Green-Co Gold Rating” from Confederation of Indian Industry - Godrej Green Business Centre (CII - Godrej GBC), Hyderabad.

2016-17

  • Sales crossed Rs. 3000 crore mark which is the highest in the Company’s history.
  • The packaging paper board plant commenced commercial production on 1st May, 2016. Board production during the 11 month period was 83,742 MT, equivalent to 53% of capacity.
  • The Paper & pulp mill have implemented various water conservation projects and reduced the overall consumption of water to about 40 KL Per ton of paper which is one of the lowest in paper industry.

2017-18

  • The Company’s turnover during the year 2017-18 is 3037.02 crore.
  • Market Capitalization crossed Rs 3453.61crore mark first time during the year

2018-19

  • The Company’s turnover during the year 2018-19 is Rs 4040.87 crore.
  • During the Year the Paper production was 432572 MT.
  • 8220 lakh units of power were generated of which 7740 lakh units were consumed and 585 lakh units were exported to the state grid.
  • The bio-methanation plants have generated methane gas of 65.23 lakh m during 2018-19.
  • The Paper & pulp mill have implemented various water conservation projects and reduced the overall consumption of water to 32 KL/per ton of paper which is one of the lowest in paper industry.
  • The Company has reduced overall debt (Term Loan and Working Capital) to an extent of Rs 466.94 crore during the financial year 2018-19.

2019-20

  • The Company’s turnover during the year 2019-20 is Rs 3437.60 crore.
  • During the year the Paper production was 392250 MT.
  • Achieved Paper sales of 378022 MT during the FY 2019-20. Domestic sales accounts for 81% and Exports at 19%.
  • The packaging paper board sales during the year 2019-20 was 171785 MT.
  • Market Capitalization was Rs 615.63 as on March 31, 2020.
  • 330358 tonnes of Hardwood, Chemical Bagasse Pulp and Deinked Pulp were produced during the year.
  • Generated 5895 lakh units of power, 5959 lakh units were internally consumed and 61 lakh units exported to the state grid (Unit-1).
  • The bio-methanation plants have generated methane gas of 62.13 lakh m during 2019-20. The methane gas was consumed in lime kiln and power boilers in replacement furnace oil 3744 KL.
  • The wind farms with an installed capacity of 35.5 MV capacity have generated 405 lakh Kwh units of 'Green Power’ during the year.
  • The Paper & pulp mill have implemented various water conservation projects and reduced the overall consumption of water to 35 KL/per ton of paper which is one of the lowest in paper industry.
  • TNPL is the first and only company in the Indian Paper Industry to have established a cement manufacturing factory to convert the mill wastes lime sludge and flyash into high grade cement as part of its solid waste management system. During the year, the Company has manufactured 252303 MT of cement.
  • TNPL has been awarded as Winner for “Golden Peacock Award for Energy Efficiency” for the year 2019 by Institute Of Directors (IOD), India's during 21st World Congress on Environment Management and Climate Change and Golden Peacock Awards Presentation Ceremony at JW Marriott Hotel, Bengaluru in the month of July'2019.
  • Recertification audit was completed by Feb 2020 and the audit team had recommended to renew the ISO 9001 certificate and issue a new certificate.
  • TNPL unit 1 has met the requirements in accordance with the GreenCo Rating System and is being re-rated “GreenCo Gold” under Version 3 of the GreenCo guidelines
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