Andhra Paper Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹68.83Fairly Valued by 6.23%vs CMP ₹73.40

P/E (52.8) × ROE (1.7%) × BV (₹97.50) × DY (0.68%)

₹60.53Overvalued by 17.53%vs CMP ₹73.40

MoS: -21.3% (Negative)Confidence: 48/100 (Moderate)Models: 3 Under, 1 Fair, 5 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹46.03	24%	Over (-37.3%)
Graham Number	Earnings	₹45.41	17%	Over (-38.1%)
Earnings Power	Earnings	₹126.05	11%	Under (+71.7%)
Net Asset Value	Assets	₹97.60	8%	Under (+33%)
EV/EBITDA	Enterprise	₹102.53	10%	Under (+39.7%)
Dividend Discount	Dividends	₹51.00	10%	Over (-30.5%)
Earnings Yield	Earnings	₹9.40	8%	Over (-87.2%)
ROCE Capital	Returns	₹2.28	8%	Over (-96.9%)
Revenue Multiple	Revenue	₹77.53	6%	Fair (+5.6%)
Consensus (9 models)		₹60.53	100%	Overvalued

Key Drivers: EPS CAGR -33.1% drags value — could be higher if earnings stabilize. | ROE 1.7% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -33.1%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 14 September 2026, 12:36 pm +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹1,541.00 Cr, versus ₹1,801.00 Cr in Mar 2024 (-14.4% year on year). Net profit for Mar 2025 was ₹89.00 Cr, versus ₹340.00 Cr in Mar 2024 (-73.8% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹-55.00 Cr against net profit of ₹89.00 Cr. Cash flow covered -0.62 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹232.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Andhra Paper Ltd scores 53/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health66/100 · Strong

ROCE 0.0% WeakROE 1.7% WeakD/E 0.14 Low debtInterest Coverage 12.5x StrongProfitable 4/5 available years Reported history

Smart Money65/100 · Strong

FII holding stable No changeDII holding up 0.80% MF buyingPromoter holding at 72.5% Stable

Earnings Quality65/100 · Strong

CFO/NP ratio: 0.84x Cash-backed earningsOPM contracting (26% → 17%) Declining

Quarterly Momentum40/100 · Moderate

Revenue (4Q): +6% YoY GrowingProfit (4Q): -84% YoY DecliningOPM: 3.7% (down 3.7% YoY) Margin pressure

Industry Rank15/100 · Weak

P/E 52.8 vs industry 29.7 Premium to peersROCE 0.0% vs industry 4.5% Below peersROE 1.7% vs industry 3.4% Below peers3Y sales CAGR: 4% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 14, 2026, 12:36 pm

Market Cap	1,459 Cr.
Current Price	73.4
Intrinsic Value	₹60.53
High / Low	86.9/57.0
Stock P/E	52.8
Book Value	97.5
Dividend Yield	0.68 %
ROCE	0.04 %
ROE	1.66 %
Face Value	2.00
PEG Ratio	-1.59

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Andhra Paper Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Andhra Paper Ltd	1,459 Cr.	73.4	86.9/57.0	52.8	97.5	0.68 %	0.04 %	1.66 %	2.00
NR Agarwal Industries Ltd	883 Cr.	519	574/355	13.4	479	0.39 %	8.49 %	6.04 %	10.0
Satia Industries Ltd	680 Cr.	68.0	85.7/50.6		109	0.59 %	3.94 %	3.83 %	1.00
Magnum Ventures Ltd	133 Cr.	19.4	30.2/16.2		99.6	0.00 %	2.55 %	1.64 %	10.0
JK Paper Ltd	7,511 Cr.	414	445/305	23.0	304	0.97 %	7.39 %	4.77 %	10.0
Industry Average	4,163.50 Cr	395.97		29.73	236.68	0.47%	4.48%	3.43%	7.17

All Competitor Stocks of Andhra Paper Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	570.86	590.16	477.59	482.03	476.58	364.38	315.89	432.28	385.70	407.37	393.42	362.08	418.69
Expenses	334.05	361.54	322.74	350.79	366.95	329.12	282.22	379.96	357.39	387.10	359.82	368.89	403.29
Operating Profit	236.81	228.62	154.85	131.24	109.63	35.26	33.67	52.32	28.31	20.27	33.60	-6.81	15.40
OPM %	41.48%	38.74%	32.42%	27.23%	23.00%	9.68%	10.66%	12.10%	7.34%	4.98%	8.54%	-1.88%	3.68%
Other Income	16.34	-1.63	21.61	21.35	24.12	27.87	25.42	30.33	15.30	17.68	27.23	10.18	28.72
Interest	1.40	3.40	1.32	1.44	0.83	0.83	2.24	3.87	4.53	7.26	5.76	4.20	4.55
Depreciation	15.56	15.73	15.83	16.61	16.72	16.71	20.82	20.97	22.00	24.53	25.90	26.91	27.39
Profit before tax	236.19	207.86	159.31	134.54	116.20	45.59	36.03	57.81	17.08	6.16	29.17	-27.74	12.18
Tax %	27.94%	25.95%	25.59%	25.44%	29.03%	15.75%	23.18%	27.82%	31.79%	-27.27%	26.98%	-27.00%	19.13%
Net Profit	170.18	153.90	118.55	100.31	82.47	38.41	27.68	41.72	11.65	7.85	21.31	-20.26	9.85
EPS in Rs	8.56	7.74	5.96	5.04	4.15	1.93	1.39	2.10	0.59	0.39	1.07	-1.02	0.50

Last Updated: February 6, 2026, 6:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 7:16 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,092	1,163	1,124	1,172	1,264	1,427	1,270	887	1,380	2,098	1,801	1,541	1,582
Expenses	1,030	1,068	992	1,002	1,038	1,047	965	826	1,156	1,359	1,368	1,402	1,519
Operating Profit	61	95	131	170	226	380	304	61	224	738	432	139	62
OPM %	6%	8%	12%	15%	18%	27%	24%	7%	16%	35%	24%	9%	4%
Other Income	13	12	39	-22	-7	7	13	11	42	33	94	84	84
Interest	43	45	40	34	26	9	5	5	5	7	4	18	22
Depreciation	87	69	73	70	66	68	76	73	72	63	66	88	105
Profit before tax	-56	-6	56	44	126	311	236	-6	188	701	456	117	20
Tax %	-26%	-104%	35%	27%	34%	36%	10%	-26%	26%	25%	25%	24%
Net Profit	-42	0	37	32	83	200	213	-5	140	522	340	89	19
EPS in Rs	-2.09	0.01	1.85	1.63	4.18	10.06	10.70	-0.23	7.03	26.27	17.08	4.47	0.94
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	-432%	21%	10%	12%	22%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	100.00%	-13.51%	159.38%	140.96%	6.50%	-102.35%	2900.00%	272.86%	-34.87%	-73.82%
Change in YoY Net Profit Growth (%)	0.00%	-113.51%	172.89%	-18.41%	-134.46%	-108.85%	3002.35%	-2627.14%	-307.72%	-38.96%

Andhra Paper Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	3%
5 Years:	4%
3 Years:	4%
TTM:	-1%

Compounded Profit Growth
10 Years:	31%
5 Years:	-23%
3 Years:	-25%
TTM:	-67%

Stock Price CAGR
10 Years:	4%
5 Years:	13%
3 Years:	-7%
1 Year:	-30%

Return on Equity
10 Years:	16%
5 Years:	15%
3 Years:	19%
Last Year:	3%

Last Updated: September 4, 2025, 11:15 pm

Balance Sheet

Last Updated: June 16, 2026, 6:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	374	411	438	524	724	936	935	1,054	1,542	1,853	1,901	1,900
Borrowings	502	477	359	208	15	9	44	59	55	115	283	232
Other Liabilities	330	340	317	325	407	336	313	345	367	443	381	367
Total Liabilities	1,246	1,268	1,155	1,097	1,186	1,321	1,333	1,498	2,005	2,451	2,605	2,538
Fixed Assets	833	820	798	742	707	680	619	585	577	795	1,024	1,000
CWIP	16	17	3	4	8	2	9	8	29	114	30	279
Investments	15	15	10	15	16	44	219	383	887	1,029	909	650
Other Assets	382	415	344	336	455	595	486	523	512	513	642	609
Total Assets	1,246	1,268	1,155	1,097	1,186	1,321	1,333	1,498	2,005	2,451	2,605	2,538

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	128	111	172	215	310	177	104	202	536	319	-55	104
Cash from Investing Activity +	-31	-38	-29	-31	-110	-167	-114	-181	-498	-334	-61	2
Cash from Financing Activity +	-108	-67	-145	-175	-201	-11	11	-12	-41	5	109	-94
Net Cash Flow	-11	6	-3	9	-1	-0	1	9	-3	-10	-7	12
Free Cash Flow	96	73	141	182	269	153	83	163	422	-12	-320	-194
CFO/OP	134%	92%	107%	106%	99%	80%	170%	115%	97%	105%	-36%	164%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	96.00	73.00	141.00	182.00	269.00	153.00	83.00	163.00	422.00	-12.00	-320.00	-194.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	20	20	23	21	20	19	12	31	27	26	12	26
Inventory Days	172	141	151	131	113	120	216	169	80	77	102	127
Days Payable	121	110	110	99	97	130	125	134	89	87	98	75
Cash Conversion Cycle	71	52	64	54	37	8	102	66	17	16	16	78
Working Capital Days	-22	-57	-19	-48	-26	18	43	46	32	9	-5	28
ROCE %	-1%	4%	7%	12%	21%	42%	27%	0%	18%	52%	25%	4%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	72.31%	72.31%	72.31%	72.31%	72.45%	72.45%	72.45%	72.45%	72.45%	72.45%	72.45%	72.45%
FIIs	2.65%	2.62%	2.33%	2.31%	1.35%	1.02%	0.96%	0.84%	0.79%	0.79%	0.33%	0.27%
DIIs	2.55%	2.21%	2.60%	2.60%	4.53%	4.67%	4.67%	4.68%	4.68%	4.74%	5.79%	5.48%
Public	22.47%	22.85%	22.75%	22.77%	21.67%	21.86%	21.91%	22.03%	22.09%	22.02%	21.43%	21.80%
No. of Shareholders	27,445	34,601	37,937	37,553	42,417	45,590	46,458	45,377	45,271	43,406	41,461	40,465

Shareholding Pattern Chart

No. of Shareholders

Andhra Paper Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
ICICI Prudential Smallcap Fund	8,550,054	0.68	55.5	N/A	N/A	N/A
SBI Conservative Hybrid Fund	1,472,313	0.1	10.13	715,539	2026-03-02 05:01:28	105.76%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	4.47	85.43	131.37	35.14	-1.16
Diluted EPS (Rs.)	4.47	85.43	131.37	35.14	-1.16
Cash EPS (Rs.)	8.91	101.99	147.26	53.24	17.30
Book Value[Excl.RevalReserv]/Share (Rs.)	97.60	476.04	397.83	275.10	245.21
Book Value[Incl.RevalReserv]/Share (Rs.)	97.60	476.04	397.83	275.10	245.21
Dividend / Share (Rs.)	1.00	10.00	12.50	7.50	5.00
Revenue From Operations / Share (Rs.)	77.51	452.75	527.45	347.05	222.97
PBDIT / Share (Rs.)	11.23	132.24	197.82	66.84	19.14
PBIT / Share (Rs.)	6.79	115.68	181.93	48.73	0.68
PBT / Share (Rs.)	5.89	114.57	176.26	47.36	-1.56
Net Profit / Share (Rs.)	4.47	85.42	131.37	35.13	-1.16
PBDIT Margin (%)	14.48	29.20	37.50	19.25	8.58
PBIT Margin (%)	8.75	25.55	34.49	14.04	0.30
PBT Margin (%)	7.59	25.30	33.41	13.64	-0.69
Net Profit Margin (%)	5.76	18.86	24.90	10.12	-0.51
Return on Networth / Equity (%)	4.58	17.94	33.02	12.77	-0.47
Return on Capital Employeed (%)	6.23	22.63	43.40	16.23	0.25
Return On Assets (%)	3.41	13.86	26.06	9.32	-0.34
Long Term Debt / Equity (X)	0.06	0.02	0.00	0.01	0.01
Total Debt / Equity (X)	0.14	0.05	0.02	0.04	0.02
Asset Turnover Ratio (%)	0.60	0.80	1.20	0.97	0.66
Current Ratio (X)	2.97	3.06	3.40	2.39	2.21
Quick Ratio (X)	2.24	2.49	2.89	1.91	1.56
Inventory Turnover Ratio (X)	5.51	4.21	5.15	3.02	2.71
Dividend Payout Ratio (NP) (%)	44.73	14.63	5.70	14.23	0.00
Dividend Payout Ratio (CP) (%)	22.43	12.25	5.09	9.39	0.00
Earning Retention Ratio (%)	55.27	85.37	94.30	85.77	0.00
Cash Earning Retention Ratio (%)	77.57	87.75	94.91	90.61	0.00
Interest Coverage Ratio (X)	12.48	119.13	109.71	48.81	16.87
Interest Coverage Ratio (Post Tax) (X)	5.97	77.95	76.00	26.66	0.95
Enterprise Value (Cr.)	1637.36	2014.44	1644.74	1175.63	820.56
EV / Net Operating Revenue (X)	1.06	1.12	0.78	0.85	0.92
EV / EBITDA (X)	7.33	3.83	2.09	4.42	10.78
MarketCap / Net Operating Revenue (X)	0.88	1.07	0.78	0.85	0.98
Retention Ratios (%)	55.26	85.36	94.29	85.76	0.00
Price / BV (X)	0.70	1.02	1.04	1.08	0.89
Price / Net Operating Revenue (X)	0.88	1.07	0.78	0.85	0.98
EarningsYield	0.06	0.17	0.31	0.11	-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Andhra Paper Ltd and is it undervalued?

Andhra Paper Ltd: the stored intrinsic value estimate is ₹60.53, compared with a stored share price of ₹73.40. The model value is 17.5% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Andhra Paper Ltd?

The stored share price is ₹73.40. Price-data record updated: 14 September 2026, 12:36 pm +05:30. This is not a live quote. The stored 52-week high / low is 86.9/57.0; this is a rolling range, not a financial-year range.

How have Andhra Paper Ltd's revenue and profit changed?

Does Andhra Paper Ltd's profit convert into cash?

What should I check in Andhra Paper Ltd's balance sheet?

Reported borrowings were ₹232.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Andhra Paper Ltd's P/E with other stocks?

The stored P/E is 52.80. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Andhra Paper Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.