Star Paper Mills Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:47 am

Market Cap	348 Cr.
Current Price	223
High / Low	288/190
Stock P/E	5.90
Book Value	428
Dividend Yield	1.80 %
ROCE	13.4 %
ROE	10.5 %
Face Value	10.0
PEG Ratio	0.52

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gratex Industries Ltd	8.59 Cr.	28.4	28.4/15.7	143	11.6	0.00 %	4.54 %	3.18 %	10.0
Ganga Papers India Ltd	112 Cr.	103	191/80.3	71.9	27.6	0.00 %	6.93 %	5.22 %	10.0
Encode Packaging India Ltd	4.73 Cr.	15.0	18.7/7.60	67.6	10.4	0.00 %	3.24 %	3.65 %	10.0
Cella Space Ltd	31.4 Cr.	15.6	16.7/7.98	33.8	10.3	0.00 %	10.7 %	%	10.0
Bandaram Pharma Packtech Ltd	55.4 Cr.	46.2	63.1/28.3	33.8	11.0	0.22 %	9.10 %	6.77 %	10.0
Industry Average	3,279.06 Cr	236.86		51.14	139.52	0.77%	26.26%	12.72%	6.60

All Competitor Stocks of

Quarterly Result

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Sales	87	48	77	93	113	119	134	116	123	124	106	115	100
Expenses	75	43	70	83	103	103	110	91	109	101	90	101	95
Operating Profit	11	5	7	10	10	16	24	25	15	23	15	14	5
OPM %	13%	10%	9%	11%	9%	13%	18%	22%	12%	18%	14%	12%	5%
Other Income	1	3	4	3	8	4	3	-6	8	4	8	7	11
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	11	6	10	11	17	18	26	18	21	25	22	19	14
Tax %	28%	24%	29%	37%	-5%	15%	18%	30%	23%	21%	32%	24%	-0%
Net Profit	8	5	7	7	18	15	21	13	16	20	15	15	14
EPS in Rs	5.01	3.08	4.37	4.61	11.41	9.79	13.58	8.16	10.54	12.65	9.73	9.46	9.17

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Sales	273	275	271	272	324	347	378	341	233	331	493	444
Expenses	290	283	256	246	253	274	328	293	212	299	412	387
Operating Profit	-17	-8	15	27	71	72	49	48	21	32	80	57
OPM %	-6%	-3%	5%	10%	22%	21%	13%	14%	9%	10%	16%	13%
Other Income	1	-2	1	1	2	5	7	7	9	18	9	30
Interest	5	5	3	3	1	1	1	1	1	0	1	1
Depreciation	11	11	5	4	4	4	4	5	5	5	5	5
Profit before tax	-32	-26	8	21	68	72	52	49	25	44	83	81
Tax %	-6%	-15%	-107%	20%	11%	25%	-3%	24%	30%	17%	21%	21%
Net Profit	-30	-22	16	16	60	54	53	37	18	37	66	64
EPS in Rs	-18.93	-14.15	9.96	10.57	38.67	34.76	34.08	23.88	11.22	23.48	42.07	41.00
Dividend Payout %	0%	0%	0%	0%	5%	7%	7%	10%	22%	15%	12%	10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	26.67%	172.73%	0.00%	275.00%	-10.00%	-1.85%	-30.19%	-51.35%	105.56%	78.38%	-3.03%
Change in YoY Net Profit Growth (%)	0.00%	146.06%	-172.73%	275.00%	-285.00%	8.15%	-28.34%	-21.16%	156.91%	-27.18%	-81.41%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 14, 2024, 2:42 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	16	16	16	16	16	16	16	16	16	16	16	16	16
Reserves	39	17	31	48	337	390	440	473	486	519	579	632	653
Borrowings	20	20	14	7	4	2	1	0	1	1	0	5	5
Other Liabilities	112	117	109	106	157	154	135	142	147	136	134	137	148
Total Liabilities	186	170	170	176	514	562	592	630	650	672	728	790	822
Fixed Assets	100	91	86	85	404	405	410	412	415	415	414	425	425
CWIP	2	1	1	1	2	7	4	7	6	3	3	3	3
Investments	36	32	32	32	46	78	81	89	94	113	47	194	227
Other Assets	48	46	51	58	61	71	96	122	135	141	265	167	167
Total Assets	186	170	170	176	514	562	592	630	650	672	728	790	822

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	4	3	15	12	39	36	31	18	29	19	47	26
Cash from Investing Activity +	0	1	-0	-3	-35	-31	-28	-4	-25	-13	-41	-9
Cash from Financing Activity +	-5	-4	-10	-10	-3	-7	-5	-8	-5	-5	-6	-9
Net Cash Flow	-0	-0	5	-1	1	-2	-2	5	-2	0	-1	7

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-37.00	-28.00	1.00	20.00	67.00	70.00	48.00	48.00	20.00	31.00	80.00	52.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	10	9	9	14	8	8	7	4	1	7	2	3
Inventory Days	87	61	70	90	113	144	131	224	294	189	179	219
Days Payable	210	176	211	205	148	136	105	124	112	73	57	46
Cash Conversion Cycle	-114	-107	-133	-102	-27	16	33	104	182	122	124	176
Working Capital Days	-48	-61	-64	-43	-14	-0	14	40	42	44	44	63
ROCE %	-30%	-28%	19%	36%	32%	19%	12%	10%	5%	9%	17%	13%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	45.17%	45.17%	45.17%	45.17%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%	44.93%
FIIs	0.02%	0.18%	0.13%	1.70%	2.26%	1.73%	1.77%	1.89%	1.84%	1.70%	1.70%	1.71%
DIIs	0.02%	0.01%	0.02%	0.01%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	54.79%	54.64%	54.68%	53.12%	52.82%	53.32%	53.30%	53.17%	53.24%	53.37%	53.37%	53.37%
No. of Shareholders	26,691	25,445	24,826	23,015	21,946	20,975	20,501	19,813	20,272	19,320	17,494	16,746

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	41.01	42.08	23.48	11.22	23.88
Diluted EPS (Rs.)	41.01	42.08	23.48	11.22	23.88
Cash EPS (Rs.)	44.49	45.46	26.91	14.57	27.18
Book Value[Excl.RevalReserv]/Share (Rs.)	414.70	380.83	342.65	321.55	312.84
Book Value[Incl.RevalReserv]/Share (Rs.)	414.70	380.83	342.65	321.55	312.84
Dividend / Share (Rs.)	4.00	5.00	3.50	2.50	2.50
Revenue From Operations / Share (Rs.)	284.77	315.66	211.77	149.52	218.47
PBDIT / Share (Rs.)	57.01	64.99	32.05	19.66	35.21
PBIT / Share (Rs.)	53.52	61.61	28.62	16.31	31.90
PBT / Share (Rs.)	51.83	53.40	28.32	15.94	31.49
Net Profit / Share (Rs.)	41.01	42.08	23.48	11.22	23.88
PBDIT Margin (%)	20.01	20.58	15.13	13.15	16.11
PBIT Margin (%)	18.79	19.51	13.51	10.91	14.60
PBT Margin (%)	18.20	16.91	13.37	10.66	14.41
Net Profit Margin (%)	14.39	13.32	11.08	7.50	10.92
Return on Networth / Equity (%)	9.88	11.04	6.85	3.49	7.63
Return on Capital Employeed (%)	11.34	14.26	7.21	4.30	8.61
Return On Assets (%)	8.10	9.01	5.45	2.69	5.91
Asset Turnover Ratio (%)	0.58	0.70	0.49	0.36	0.55
Current Ratio (X)	6.20	5.25	4.27	3.43	3.50
Quick Ratio (X)	4.03	3.49	2.84	2.13	1.98
Inventory Turnover Ratio (X)	2.09	2.56	1.93	1.13	2.16
Dividend Payout Ratio (NP) (%)	12.19	8.31	10.64	22.27	12.68
Dividend Payout Ratio (CP) (%)	11.23	7.69	9.28	17.15	11.14
Earning Retention Ratio (%)	87.81	91.69	89.36	77.73	87.32
Cash Earning Retention Ratio (%)	88.77	92.31	90.72	82.85	88.86
Interest Coverage Ratio (X)	106.23	181.33	105.66	52.95	84.84
Interest Coverage Ratio (Post Tax) (X)	79.56	140.31	78.40	31.22	58.53
Enterprise Value (Cr.)	324.23	85.32	208.89	146.80	87.26
EV / Net Operating Revenue (X)	0.72	0.17	0.63	0.62	0.25
EV / EBITDA (X)	3.64	0.84	4.18	4.78	1.59
MarketCap / Net Operating Revenue (X)	0.78	0.46	0.74	0.80	0.32
Retention Ratios (%)	87.80	91.68	89.35	77.72	87.31
Price / BV (X)	0.53	0.38	0.46	0.37	0.22
Price / Net Operating Revenue (X)	0.78	0.46	0.74	0.80	0.32
EarningsYield	0.18	0.28	0.14	0.09	0.33

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 269.92

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 21.04% compared to the current share price 223.00

Intrinsic Value of as of December 22, 2024 is: 300.74

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 34.86% compared to the current share price 223.00

Last 5 Year EPS CAGR: 11.42%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of 1.42, which is a positive sign. The company has higher reserves (357.23 cr) compared to borrowings (6.15 cr), indicating strong financial stability. The company has shown consistent growth in sales (331.83 cr) and profit (37.08 cr) over the years.	The stock has a low average ROCE of 9.50%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 22.83, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 14.39%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 11.34% (Industry Average ROCE: 26.26%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 9.88% (Industry Average ROE: 12.72%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 79.56
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 4.03
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 5.9 (Industry average Stock P/E: 51.14)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Star Paper Mills Ltd. is a Public Limited Listed company incorporated on 31/08/1936 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L21011WB1936PLC008726 and registration number is 008726. Currently Company is involved in the business activities of Manufacture of paper and paper products. Company’s Total Operating Revenue is Rs. 330.54 Cr. and Equity Capital is Rs. 15.61 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Paper & Paper Products	Duncan House, 2nd Floor, Kolkata West Bengal 700001	star.cal@starpapers.com http://www.starpapers.com

Management
Name	Position Held
Mr. G P Goenka	Chairperson Emeritus
Mr. Shiromani Sharma	Chairman & Ind.Director
Mr. Madhukar Mishra	Managing Director
Mr. Shrivardhan Goenka	Non Independent Director
Mrs. Pragya Jhunjhunwala	Non Independent Director
Mr. C M Vasudev	Independent Director
Dr.(Mrs.) Sheela Bhide	Independent Director
Dr. R C Lodha	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹269.92, which is 21.04% higher than the current market price of ₹223.00. The stock has a market capitalization of 348 Cr. and recorded a high/low of 288/190 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹653 Cr and total liabilities of ₹822 Cr.

What is the Market Cap of ?

The Market Cap of is 348 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 223.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 288/190.

What is the Stock P/E of ?

The Stock P/E of is 5.90.

What is the Book Value of ?

The Book Value of is 428.

What is the Dividend Yield of ?

The Dividend Yield of is 1.80 %.

What is the ROCE of ?

The ROCE of is 13.4 %.

What is the ROE of ?

The ROE of is 10.5 %.

What is the Face Value of ?

The Face Value of is 10.0.