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Last Updated: April 2, 2026, 4:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 530733 | NSE: ENCODE

Encode Packaging India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2.66Overvalued by 77.26%vs CMP ₹11.70

P/E (15.0) × ROE (2.1%) × BV (₹10.30) × DY (2.00%)

Defaults: P/E=15

₹4.42Overvalued by 62.22%vs CMP ₹11.70
MoS: -164.7% (Negative)Confidence: 53/100 (Moderate)Models: All 3: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹2.5750%Over (-78%)
Net Asset ValueAssets₹10.3430%Over (-11.6%)
ROCE CapitalReturns₹0.1820%Over (-98.5%)
Consensus (3 models)₹4.42100%Overvalued
Key Drivers: ROE 2.1% is below cost of equity. | Wide model spread (₹0–₹10) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -3.4% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

43
Encode Packaging India Ltd scores 43/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health51/100 · Moderate
ROCE 2.1% WeakROE 2.1% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
Earnings Quality50/100 · Moderate
OPM contracting (9% → 4%) DecliningWorking capital: 0 days (improving) Efficient
Quarterly Momentum35/100 · Weak
Revenue (4Q): -100% YoY Declining
Industry Rank20/100 · Weak
ROCE 2.1% vs industry 9.3% Below peersROE 2.1% vs industry 134.8% Below peers3Y sales CAGR: -100% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Encode Packaging India Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 25.3 | ROCE 2.1% | ROE 2.1% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 1.97x | Borrow/Reserve 0.91x
Cash Flow Reliability
100/100
Strong
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹0 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom N/A
Business Momentum
0
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales N/A | Q NP N/A | Q OPM 0.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-62.2%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.91xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter ChangeN/ALatest promoter% minus previous promoter%
Shareholder Count Change+6Latest shareholder count minus previous count
Quarterly Sales ChangeN/ALatest quarter sales vs previous quarter sales
Quarterly Profit ChangeN/ALatest quarter net profit vs previous quarter net profit
Quarterly OPM Change0.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:33 am

Market Cap 3.69 Cr.
Current Price 11.7
Intrinsic Value₹4.42
High / Low 14.0/10.6
Stock P/E
Book Value 10.3
Dividend Yield0.00 %
ROCE2.05 %
ROE2.11 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Encode Packaging India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Mohit Paper Mills Ltd 33.7 Cr. 24.1 38.8/23.85.20 39.00.00 %12.0 %13.6 % 10.0
Gratex Industries Ltd 5.26 Cr. 17.4 26.2/14.258.4 12.20.00 %3.85 %2.52 % 10.0
Ganga Papers India Ltd 74.0 Cr. 68.6 111/68.651.0 29.00.00 %6.44 %5.19 % 10.0
Encode Packaging India Ltd 3.69 Cr. 11.7 14.0/10.6 10.30.00 %2.05 %2.11 % 10.0
Cella Space Ltd 27.1 Cr. 13.4 19.3/9.5528.2 10.30.00 %10.7 %% 10.0
Industry Average694.36 Cr69.4125.25107.280.86%9.32%134.80%6.50

All Competitor Stocks of Encode Packaging India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 0.570.650.781.171.401.280.000.000.000.000.000.000.00
Expenses 0.530.680.810.991.211.200.040.000.000.010.000.000.00
Operating Profit 0.04-0.03-0.030.180.190.08-0.040.000.00-0.010.000.000.00
OPM % 7.02%-4.62%-3.85%15.38%13.57%6.25%
Other Income 0.000.000.000.000.000.010.000.000.000.000.000.000.00
Interest 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation 0.070.070.060.060.070.070.010.010.010.000.000.000.00
Profit before tax -0.03-0.10-0.090.120.120.02-0.05-0.01-0.01-0.010.000.000.00
Tax % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit -0.03-0.10-0.090.110.120.02-0.05-0.01-0.01-0.010.000.000.00
EPS in Rs -0.10-0.32-0.290.350.380.06-0.16-0.03-0.03-0.030.000.000.00

Last Updated: March 3, 2026, 10:02 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 4:50 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2.392.483.396.087.351.695.453.891.062.494.590.000.00
Expenses 2.352.443.355.977.291.745.413.880.962.274.240.070.01
Operating Profit 0.040.040.040.110.06-0.050.040.010.100.220.35-0.07-0.01
OPM % 1.67%1.61%1.18%1.81%0.82%-2.96%0.73%0.26%9.43%8.84%7.63%
Other Income 0.000.000.000.000.040.010.000.000.000.000.020.000.00
Interest 0.000.000.000.000.040.000.000.000.000.000.000.000.00
Depreciation 0.000.000.000.000.000.000.000.000.030.280.260.000.00
Profit before tax 0.040.040.040.110.06-0.040.040.010.07-0.060.11-0.07-0.01
Tax % 25.00%25.00%25.00%27.27%16.67%0.00%25.00%0.00%28.57%-33.33%-9.09%0.00%
Net Profit 0.030.030.030.080.04-0.040.030.010.05-0.040.12-0.07-0.01
EPS in Rs 0.100.100.100.250.13-0.130.100.030.16-0.130.38-0.22-0.03
Dividend Payout % 0.00%0.00%0.00%78.75%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%0.00%166.67%-50.00%-200.00%175.00%-66.67%400.00%-180.00%400.00%-158.33%
Change in YoY Net Profit Growth (%)0.00%0.00%166.67%-216.67%-150.00%375.00%-241.67%466.67%-580.00%580.00%-558.33%

Encode Packaging India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-100%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-116%
Stock Price CAGR
10 Years:-22%
5 Years:-9%
3 Years:1%
1 Year:-28%
Return on Equity
10 Years:1%
5 Years:0%
3 Years:0%
Last Year:-2%

Last Updated: September 5, 2025, 3:26 pm

Balance Sheet

Last Updated: December 10, 2025, 4:15 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3.153.153.153.153.153.153.153.153.153.153.153.153.15
Reserves -0.020.010.040.040.080.040.070.080.120.080.200.110.11
Borrowings 0.000.000.000.000.000.000.000.000.050.100.100.100.10
Other Liabilities 0.020.020.170.970.431.350.033.320.140.320.180.080.08
Total Liabilities 3.153.183.364.163.664.543.256.553.463.653.633.443.44
Fixed Assets 0.010.000.000.000.000.000.000.001.411.331.110.070.07
CWIP 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments 0.000.003.103.103.103.100.000.000.300.300.300.000.00
Other Assets 3.143.180.261.060.561.443.256.551.752.022.223.373.37
Total Assets 3.153.183.364.163.664.543.256.553.463.653.633.443.44

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 0.090.030.040.56-0.580.00-3.090.001.560.030.33-1.36
Cash from Investing Activity + -0.080.000.000.000.000.003.100.00-1.44-0.20-0.031.04
Cash from Financing Activity + 0.000.000.000.00-0.040.000.000.000.050.05-0.010.00
Net Cash Flow 0.010.030.040.56-0.630.000.010.000.17-0.120.30-0.32
Free Cash Flow 0.090.030.040.56-0.580.00-3.090.000.12-0.170.30-0.33
CFO/OP 250%100%125%536%-950%0%-7,700%0%1,570%14%94%1,943%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.040.040.040.110.06-0.050.040.010.050.120.25-0.17

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 0.000.000.0023.4119.37302.37161.40534.83117.08129.0081.11
Inventory Days 0.000.000.000.005.080.000.000.0025.7638.420.000.00
Days Payable 19.8012.8843.22
Cash Conversion Cycle 0.000.000.0023.414.65302.37161.40534.83129.96124.1981.11
Working Capital Days -1.53-1.47-2.15-34.224.4712.96212.30298.38485.52233.07128.82
ROCE %1.28%1.27%1.26%3.45%3.12%-1.25%1.25%0.31%2.14%-1.80%3.24%-2.06%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Public 100.00%100.00%100.01%100.00%100.01%100.00%99.99%100.00%99.99%99.99%99.99%99.99%
No. of Shareholders 1,1111,1091,1631,1831,1781,1641,3071,4111,3881,3681,3861,392

Shareholding Pattern Chart

No. of Shareholders

Encode Packaging India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -0.230.39-0.140.150.02
Diluted EPS (Rs.) -0.230.39-0.140.150.02
Cash EPS (Rs.) -0.221.220.730.240.02
Book Value[Excl.RevalReserv]/Share (Rs.) 10.3910.6210.2510.3910.25
Book Value[Incl.RevalReserv]/Share (Rs.) 10.3910.6210.2510.3910.25
Revenue From Operations / Share (Rs.) 0.0114.607.913.3612.33
PBDIT / Share (Rs.) -0.221.180.680.310.02
PBIT / Share (Rs.) -0.220.35-0.190.220.02
PBT / Share (Rs.) -0.220.35-0.190.210.02
Net Profit / Share (Rs.) -0.220.39-0.140.140.01
PBDIT Margin (%) -2596.138.068.649.440.19
PBIT Margin (%) -2596.132.42-2.426.570.17
PBT Margin (%) -2600.242.42-2.436.540.16
Net Profit Margin (%) -2600.242.69-1.794.400.14
Return on Networth / Equity (%) -2.193.70-1.381.420.17
Return on Capital Employeed (%) -2.133.25-1.812.080.20
Return On Assets (%) -2.083.43-1.221.340.08
Long Term Debt / Equity (X) 0.030.030.030.010.00
Total Debt / Equity (X) 0.030.030.030.010.00
Asset Turnover Ratio (%) 0.001.270.700.210.79
Current Ratio (X) 45.3712.476.3715.191.97
Quick Ratio (X) 45.3712.465.8714.641.97
Inventory Turnover Ratio (X) 2.2138.2413.670.000.00
Interest Coverage Ratio (X) -632.523710.00718.67284.0029.35
Interest Coverage Ratio (Post Tax) (X) -632.521243.00-148.00133.4822.74
Enterprise Value (Cr.) 4.303.123.232.489.12
EV / Net Operating Revenue (X) 1555.130.671.302.342.35
EV / EBITDA (X) -59.908.4014.9924.781188.81
MarketCap / Net Operating Revenue (X) 1546.260.741.302.502.36
Price / BV (X) 1.301.021.000.802.84
Price / Net Operating Revenue (X) 1693.750.741.302.502.36
EarningsYield -0.010.03-0.010.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Encode Packaging India Ltd. is a Public Limited Listed company incorporated on 05/12/1994 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L74110PB1994PLC015406 and registration number is 015406. Currently company belongs to the Industry of Paper & Paper Products. Company's Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 3.15 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Paper & Paper ProductsC/301, Elanza Crest, Nr. Sigma House, Ahmedabad Gujarat 380059Contact not found
Management
NamePosition Held
Mr. Navdeep Singh BhattiWhole Time Director
Mr. Raman KumarIndependent Director
Mr. Umeshbhai Gor RasiklalIndependent Director
Mrs. Shikha LakhiNon Executive Director
Mr. Heera Lal KumharIndependent Director
Mr. Kiran Bhartabhai MistriAdditional Director
Mr. Alpesh Madhubhai DangodraAdditional Director

FAQ

What is the intrinsic value of Encode Packaging India Ltd and is it undervalued?

As of 05 April 2026, Encode Packaging India Ltd's intrinsic value is ₹4.42, which is 62.22% lower than the current market price of ₹11.70, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.11 %), book value (₹10.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Encode Packaging India Ltd?

Encode Packaging India Ltd is trading at ₹11.70 as of 05 April 2026, with a FY2026-2027 high of ₹14.0 and low of ₹10.6. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3.69 Cr..

How does Encode Packaging India Ltd's P/E ratio compare to its industry?

Encode Packaging India Ltd has a P/E ratio of , which is below the industry average of 25.25. This is broadly in line with or below the industry average.

Is Encode Packaging India Ltd financially healthy?

Key indicators for Encode Packaging India Ltd: ROCE of 2.05 % is on the lower side compared to the industry average of 9.32%; ROE of 2.11 % is below ideal levels (industry average: 134.80%). Dividend yield is 0.00 %.

Is Encode Packaging India Ltd profitable and how is the profit trend?

Encode Packaging India Ltd reported a net profit of ₹0 Cr in Mar 2025. Compared to ₹0 Cr in Mar 2022, the net profit shows a declining trend.

Does Encode Packaging India Ltd pay dividends?

Encode Packaging India Ltd has a dividend yield of 0.00 % at the current price of ₹11.70. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Encode Packaging India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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