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Prices as of 9 Oct 2026 close · Not investment advice

Emami Paper Mills Limited

NSE: EMAMIPAPPaper & Paper ProductsTrade-to-trade true

Share price

₹115.49

+2.06% close of 9 Oct 2026

Market cap ₹693 CrP/E 7.3

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 6 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

59

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹693 Cr

P/E ratio

7.3

P/B ratio

1.4

ROCE

11.4%

ROE

12.1%

Dividend yield

2.8%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹122.8852-week low ₹56.59

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Mar 2008 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Mar 2008 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 7.3× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 20.2×, across 5 companies. It is against its own five-year median of 8.1×, the 29th percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
Emami Paper Mills Limited — this one-3%/yr7.3×—
JK Paper Limited-40%/yr20.2×—
West Coast Paper Mills Limited-46%/yr20.7×—
Seshasayee Paper and Boards Limited-41%/yr13.5×—
ANDHRA PAPER LIMITED-67%/yr48.0×—
N R Agarwal Industries Limited-22%/yr17.4×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Paper & Paper Products), it ranks 3 of 22 on returns, 2 of 22 on growth, 9 of 22 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 11.4% on capital, ahead of 86% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹953 crore of cash from the business, spent ₹117 crore on plant and equipment, and returned ₹856 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 349 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 20 days before it paid its own suppliers to waiting 13 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

9 of 9 checks clear · 100%

Latest result

What the last results showed. Whether management kept its word is in Pro.

Results are expected soon.

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹693 Cr
Prev close
₹115.49
52w High
₹134
52w Low
₹55.0
Enterprise value
₹1,589 Cr
Beta
0.9
Price CAGR 1y
12.0%
Price CAGR 3y
-4.0%
Price CAGR 5y
-7.0%
Price CAGR 10y
1.0%

Ratios

Return on assets
3.3%
PEG ratio
-2.4
P/E ratio
7.3
P/B ratio
1.4
EV / EBITDA
6.6
Industry P/E
15.3
ROCE
11.4%
ROCE 5y average
11.4%
ROE
12.1%
Debt / Equity
1.8
Interest coverage
2.4
Dividend yield
2.8%
ROE 3y average
11.0%
ROE last year
12.0%

Annual P&L

Annual revenue
₹1,907 Cr
Annual profit
₹61 Cr
Operating margin
10.0%
Net profit margin
3.2%
EBITDA margin
10.3%
Sales growth 3y
-7.1%
Sales growth 5y
9.4%
Profit growth 3y
-3.0%
Profit growth 5y
40.0%
EPS
₹10.2
Sales growth TTM
7.0%
Profit growth TTM
384.0%
Dividend payout
32.0%

Quarter P&L

Sales latest quarter
₹560 Cr
Profit latest quarter
₹39 Cr
YoY quarterly sales growth
21.8%
YoY quarterly profit growth
550.0%
OPM latest quarter
14.8%

Balance Sheet

Book Value
₹82.7
Face Value
₹2.0
Total debt
₹897 Cr
Total cash
₹1 Cr
Borrowings
₹897 Cr
Reserves / Equity
40.3

Cash Flow

Operating cash flow
₹197 Cr
Free cash flow
₹168 Cr
FCF yield
14.4%
Net cash flow
₹0 Cr

Shareholding

Promoter holding
75.0%
FII holding
0.5%
DII holding
0.0%
Public holding
24.5%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
JK Paper393.4521.97,1521.02136.364.51,887.213.67.4
West Coast Paper753.0521.74,9780.40141.8145.41,051.310.16.2
Seshasayee Paper233.8714.71,4570.8631.9106.8492.127.75.6
Andhra Paper70.4850.81,4040.7130.342.3393.80.10.0
N R Agarwal Inds658.2517.11,1270.3035.0111.4647.043.18.5
T N Newsprint145.943.91,0082.745.7177.51,146.60.46.4
Pudumjee Paper96.1610.09140.6233.7-7.0202.93.318.1
Emami Paper115.207.36882.7838.6511.9560.221.811.4
Median98.8516.13440.306.242.3201.27.16.2

Competes with: ANDHRA PAPER LIMITED, JK Paper Limited, N R Agarwal Industries Limited, Pudumjee Paper Products Limited, Seshasayee Paper and Boards Limited, Tamil Nadu Newsprint & Papers Limited, West Coast Paper Mills Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Standalone · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales539437515484504495454475460451500496560
Expenses504385434414460458424444422414440434477
Material Cost321312295321322353
Change in Inventories6.902.519.127.840.836.65
Purchases of Stock-in-Trade0.7500.190-0.010
Employee Cost232323242224
Other Expenses928486889094
Operating Profit35528170433730313836606283
OPM %6.501216148.587.556.626.558.208.05121315
Other Income0012111225-2150
Exceptional items (within Other Income)000-2.521.270
Interest20171616141517161717181617
Depreciation14121321131313131314141413
Profit before tax2225335171024910264753
Tax %252625232725523335363428
Net Profit11639271382467173239
EPS in Rs0.222.716.514.492.121.250.280.651.041.092.815.216.38
Diluted EPS in Rs0.450.810.892.464.535.69

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Standalone · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5215391,1401,3561,5381,5151,2161,9582,3811,9941,9281,9072,008
Expenses4704911,0121,1951,3001,3071,0381,6442,1591,7581,7861,7111,766
Material Cost1,3431,250
Change in Inventories-3.6620
Purchases of Stock-in-Trade1.620.18
Employee Cost8993
Other Expenses356348
Operating Profit5147128161239209178314222236142196241
OPM %10911121614151691271012
Other Income8624114-2392-42342018
Exceptional items (within Other Income)0-1.25
Interest1516708410711795836367616868
Depreciation27275664697372746860525555
Profit before tax1711262466-5103153931123393137
Tax %30-158273234131502526252234
Net Profit1228191644-10511156984266194
EPS in Rs2.014.613.152.717.27-1.738.441911144.301015
Diluted EPS in Rs3.328.69
Dividend Payout %301319441600814113732

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
13%
5 years
9%
3 years
-7%
TTM
7%

Compounded profit growth

10 years
10%
5 years
40%
3 years
-3%
TTM
384%

Stock price CAGR

10 years
1%
5 years
-7%
3 years
-4%
1 year
12%

Return on equity

10 years
12%
5 years
16%
3 years
11%
Last year
12%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital121212121212121212121212
Reserves359376222231246207284397443518499484
Borrowings8971,1351,3921,5301,5481,4011,1511,0291,102850936897
Other Liabilities142134186191305298341340419334361430
Total Liabilities1,4091,6581,8121,9642,1111,9181,7881,7791,9761,7141,8081,822
Fixed Assets4481,1951,2201,2821,2971,2981,2251,1611,1481,0851,0591,031
CWIP620559103103141045
Investments1156564424544939455939
Other Assets341458532618667595509538785574686748
Total Assets1,4091,6581,8121,9642,1111,9181,7881,7791,9761,7141,8081,822

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity38-80-15692753132463293235144197
Cash from Investing Activity-419-102-60-124-15731-7-34-24-10-17-26
Cash from Financing Activity3071673039-123-335-246-307-9-336-32-172
Net Cash Flow-74-14-45-16-410-7-12-05-50
Free Cash Flow-399-194-78-57118274238294834026168

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Standalone
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days317048605050604140484552
Inventory Days136192117111133111108679169103114
Days Payable838442367576884746334258
Cash Conversion Cycle841781231351078680618484106109
Working Capital Days-53-93-38-29-56-68-77-20-101413
ROCE %22661088171012711

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Standalone · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters757575757575757575757575
FIIs0.500.500.500.500.570.560.550.540.530.530.530.54
DIIs4.323.813.011.030.580000.040.070.060
Public202122232424242424242424
No. of Shareholders13,07213,08714,40916,32519,21121,27521,13820,91620,19119,65019,28319,122

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +12.9% (₹102.31 → ₹115.49)Brick size ₹5.46 (fixed)Bricks 20
₹60.00₹80.00₹100₹115Dec '25Apr '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹115.49 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

896inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,80,07,554inr

2026-03-31

News

News and filings about Emami Paper Mills Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • chemicals
  • coal
  • packing materials
  • pulp
  • waste paper / recycled fibre

Depends on the price of

  • coal
  • paper_pulp

Sells to

  • ABP Group / The Telegraph / Anandabazar Patrika · newsprint
  • Bartaman · newsprint
  • D.B.Corp Limited · newsprint
  • Deccan Herald · newsprint
  • FMCG and pharma packaging brand owners · multilayer coated packaging board for food service, pharma and high-end packaging end uses
  • Front-line printers and converters · multilayer coated packaging board and writing/printing paper. FY25 BRSR: 'Our customer bas…
  • Government printing presses / textbook presses · writing and printing paper
  • HT Media Limited · newsprint
  • Jagran Prakashan Limited · newsprint
  • Malayala Manorama · newsprint
  • Prabhat Khabar · newsprint
  • Sanmarg · newsprint
  • The Economic Times · newsprint
  • The Hindu · newsprint
  • The Samaja · newsprint
  • The Times of India (Bennett Coleman) · newsprint

Buys from

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Forest Materials
Industry
Paper & Paper Products
Classification
Forest Materials › Paper & Paper Products
ISIN
INE830C01026

Plants

  • Balasore integrated paper and paperboard mill

News impact

Big market events that reach Emami Paper Mills Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

28 Aug 2026unspecified₹3.2
26 Aug 2025unspecified₹1.6
21 Aug 2024unspecified₹1.6
5 Sep 2023unspecified₹1.6
11 Aug 2022unspecified₹1.6
1 Aug 2019unspecified₹1.2

Splits, bonuses & buybacks

  • daily-prices repair: 6 rows from NSE's archive (replace 0, delete 0, insert 6), 2020-02-01..2026-02-01 (docs/flat_day_repair.md)1× · 1 Feb 2020

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.