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Last Updated: March 31, 2026, 4:40 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531813 | NSE: GANGAPA

Ganga Papers India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹62.64Fairly Valued by 8.69%vs CMP ₹68.60

P/E (51.0) × ROE (5.2%) × BV (₹29.00) × DY (2.00%)

₹49.64Overvalued by 27.64%vs CMP ₹68.60
MoS: -38.2% (Negative)Confidence: 50/100 (Moderate)Models: 2 Under, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹48.2629%Over (-29.7%)
Graham NumberEarnings₹29.6821%Over (-56.7%)
Net Asset ValueAssets₹28.749%Over (-58.1%)
EV/EBITDAEnterprise₹21.3212%Over (-68.9%)
Earnings YieldEarnings₹13.509%Over (-80.3%)
ROCE CapitalReturns₹121.3112%Under (+76.8%)
Revenue MultipleRevenue₹119.127%Under (+73.6%)
Consensus (7 models)₹49.64100%Overvalued
Key Drivers: EPS CAGR -22.9% drags value — could be higher if earnings stabilize. | Wide model spread (₹14–₹121) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -22.9%

*Investments are subject to market risks

Investment Snapshot

42
Ganga Papers India Ltd scores 42/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health38/100 · Weak
ROCE 6.4% WeakROE 5.2% WeakD/E 1.81 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 75.0% Stable
Earnings Quality60/100 · Moderate
OPM stable around 3% SteadyWorking capital: 9 days (improving) Efficient
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 5% YoY FlatProfit (4Q): -5% YoY Declining
Industry Rank20/100 · Weak
P/E 51.0 vs industry 25.3 Premium to peersROCE 6.4% vs industry 9.3% AverageROE 5.2% vs industry 134.8% Below peers3Y sales CAGR: -3% 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.

Share Price and Basic Stock Data

Last Updated: March 31, 2026, 4:40 am

Market Cap 74.0 Cr.
Current Price 68.6
Intrinsic Value₹49.64
High / Low 111/68.6
Stock P/E51.0
Book Value 29.0
Dividend Yield0.00 %
ROCE6.44 %
ROE5.19 %
Face Value 10.0
PEG Ratio-2.22

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

View Share Price Target for Ganga Papers India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ganga Papers India Ltd 74.0 Cr. 68.6 111/68.651.0 29.00.00 %6.44 %5.19 % 10.0
Gratex Industries Ltd 5.26 Cr. 17.4 26.2/14.258.4 12.20.00 %3.85 %2.52 % 10.0
Genus Paper & Boards Ltd 266 Cr. 10.4 22.0/8.6528.3 20.30.00 %4.73 %0.61 % 1.00
Cella Space Ltd 27.1 Cr. 13.4 19.3/9.5528.2 10.30.00 %10.7 %% 10.0
West Coast Paper Mills Ltd 2,877 Cr. 434 583/37520.2 5361.15 %11.5 %9.49 % 2.00
Industry Average694.36 Cr69.4125.25107.280.86%9.32%134.80%6.50

All Competitor Stocks of Ganga Papers India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 67.6072.9062.1656.9464.0162.3965.7357.3270.4764.1762.3670.6071.16
Expenses 65.7671.5260.4855.3862.3860.5564.2855.8469.2062.4260.7568.8469.49
Operating Profit 1.841.381.681.561.631.841.451.481.271.751.611.761.67
OPM % 2.72%1.89%2.70%2.74%2.55%2.95%2.21%2.58%1.80%2.73%2.58%2.49%2.35%
Other Income 0.050.030.040.100.040.140.030.030.030.280.020.030.00
Interest 0.750.510.750.710.690.630.510.580.300.680.630.800.68
Depreciation 0.550.560.560.560.560.560.550.550.550.550.590.590.59
Profit before tax 0.590.340.410.390.420.790.420.380.450.800.410.400.40
Tax % 25.42%32.35%24.39%30.77%26.19%25.32%26.19%10.53%35.56%22.50%24.39%27.50%47.50%
Net Profit 0.440.230.310.270.310.590.310.340.280.610.310.310.22
EPS in Rs 0.410.210.290.250.290.550.290.320.260.570.290.290.20

Last Updated: March 3, 2026, 9:42 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:40 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 67747481102132140177282297246257268
Expenses 6371717798126133168271288239251262
Operating Profit 43344678129767
OPM % 6%4%5%5%4%5%5%5%4%3%3%2%3%
Other Income 0000-011200000
Interest 3222233233323
Depreciation 0111122222222
Profit before tax 1111222674222
Tax % 2%11%9%-35%3%19%11%25%26%27%26%25%
Net Profit 1112122453121
EPS in Rs 1.200.950.981.611.381.521.723.834.973.011.371.441.35
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

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%100.00%-50.00%100.00%0.00%100.00%25.00%-40.00%-66.67%100.00%
Change in YoY Net Profit Growth (%)0.00%0.00%100.00%-150.00%150.00%-100.00%100.00%-75.00%-65.00%-26.67%166.67%

Ganga Papers 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:13%
5 Years:13%
3 Years:-3%
TTM:2%
Compounded Profit Growth
10 Years:4%
5 Years:-4%
3 Years:-34%
TTM:4%
Stock Price CAGR
10 Years:24%
5 Years:20%
3 Years:4%
1 Year:-2%
Return on Equity
10 Years:13%
5 Years:13%
3 Years:7%
Last Year:5%

Last Updated: September 5, 2025, 3:31 pm

Balance Sheet

Last Updated: December 4, 2025, 2:55 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11111111111111111111111111
Reserves -4-4-3-112481417182020
Borrowings 22231924323737394144373541
Other Liabilities 5710991315252922172023
Total Liabilities 34373743526367839594848695
Fixed Assets 1098872828252322202524
CWIP 22372200000000
Investments 0000000000000
Other Assets 22262629233540577272636171
Total Assets 34373743526367839594848695

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1412280712-798
Cash from Investing Activity + -4-0-0-5-14-2-1-0-0-0-0-7
Cash from Financing Activity + -10-1-5372-2001-10-3
Net Cash Flow 0-0-3000412-6-1-3
Free Cash Flow 1010-1-8-1612-891
CFO/OP 334%47%59%63%196%1%109%20%23%-49%146%134%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-18.00-20.00-16.00-20.00-28.00-31.00-30.00-31.00-29.00-35.00-30.00-29.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 263139432848436942465455
Inventory Days 9983103885349491425403933
Days Payable 323457493846505129252226
Cash Conversion Cycle 938085824250423239617162
Working Capital Days -7-715-80-6888149
ROCE %12%10%10%10%9%11%11%14%16%10%7%6%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%
DIIs 0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.25%
Public 24.77%24.76%24.77%24.78%24.77%24.77%24.77%24.78%24.77%24.78%24.77%24.77%
No. of Shareholders 657645672701834859874861828827823801

Shareholding Pattern Chart

No. of Shareholders

Ganga Papers 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.) 1.441.373.024.963.83
Diluted EPS (Rs.) 1.441.373.024.963.83
Cash EPS (Rs.) 3.483.445.026.935.81
Book Value[Excl.RevalReserv]/Share (Rs.) 28.4226.9825.6122.5917.63
Book Value[Incl.RevalReserv]/Share (Rs.) 28.4226.9825.6122.5917.63
Revenue From Operations / Share (Rs.) 238.85227.55276.16254.83163.69
PBDIT / Share (Rs.) 5.866.518.6711.089.37
PBIT / Share (Rs.) 3.814.446.679.127.39
PBT / Share (Rs.) 1.901.864.126.685.14
Net Profit / Share (Rs.) 1.441.373.024.963.83
PBDIT Margin (%) 2.452.863.134.345.72
PBIT Margin (%) 1.591.952.413.574.51
PBT Margin (%) 0.790.811.492.623.13
Net Profit Margin (%) 0.600.601.091.942.34
Return on Networth / Equity (%) 5.065.0711.7721.9621.73
Return on Capital Employeed (%) 12.5915.2522.5925.0921.81
Return On Assets (%) 1.811.763.465.645.00
Long Term Debt / Equity (X) 0.010.010.080.530.83
Total Debt / Equity (X) 1.161.271.611.561.81
Asset Turnover Ratio (%) 3.042.763.163.102.35
Current Ratio (X) 1.131.211.151.281.23
Quick Ratio (X) 0.810.830.771.021.13
Inventory Turnover Ratio (X) 14.368.5712.0624.0916.61
Interest Coverage Ratio (X) 3.062.533.404.544.15
Interest Coverage Ratio (Post Tax) (X) 1.751.532.183.032.70
Enterprise Value (Cr.) 139.94142.35115.5999.1761.65
EV / Net Operating Revenue (X) 0.540.570.380.360.34
EV / EBITDA (X) 22.1420.2612.368.296.10
MarketCap / Net Operating Revenue (X) 0.400.430.240.250.19
Price / BV (X) 3.443.672.672.901.79
Price / Net Operating Revenue (X) 0.400.430.240.250.19
EarningsYield 0.010.010.040.070.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ganga Papers India Ltd. is a Public Limited Listed company incorporated on 11/03/1985 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L21012MH1985PTC035575 and registration number is 035575. Currently company belongs to the Industry of Paper & Paper Products. Company's Total Operating Revenue is Rs. 257.69 Cr. and Equity Capital is Rs. 10.79 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Paper & Paper Products241, Village Bebedohal, Tal. Maval, Pune Maharashtra 410506Contact not found
Management
NamePosition Held
Mr. Ramesh Kumar ChaudharyChairman & Non-Exe.Director
Mr. Sandeep KanoriaExecutive & Managing Director
Mr. Manish KumarNon Executive Director
Mrs. Sadhana KanoriaNon Executive Woman Director
Mr. Ratan Kumar SinghIndependent Director
Mr. Amit KapoorIndependent Director
Mr. Surya Prakash AgarwalIndependent Director
Mr. Shreyash AgarwalIndependent Director

FAQ

What is the intrinsic value of Ganga Papers India Ltd and is it undervalued?

As of 16 April 2026, Ganga Papers India Ltd's intrinsic value is ₹49.64, which is 27.64% lower than the current market price of ₹68.60, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.19 %), book value (₹29.0), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ganga Papers India Ltd?

Ganga Papers India Ltd is trading at ₹68.60 as of 16 April 2026, with a FY2026-2027 high of ₹111 and low of ₹68.6. The stock is currently near its 52-week low. Market cap stands at ₹74.0 Cr..

How does Ganga Papers India Ltd's P/E ratio compare to its industry?

Ganga Papers India Ltd has a P/E ratio of 51.0, which is above the industry average of 25.25. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Ganga Papers India Ltd financially healthy?

Key indicators for Ganga Papers India Ltd: ROCE of 6.44 % is on the lower side compared to the industry average of 9.32%; ROE of 5.19 % is below ideal levels (industry average: 134.80%). Dividend yield is 0.00 %.

Is Ganga Papers India Ltd profitable and how is the profit trend?

Ganga Papers India Ltd reported a net profit of ₹2 Cr in Mar 2025 on revenue of ₹257 Cr. Compared to ₹5 Cr in Mar 2022, the net profit shows a declining trend.

Does Ganga Papers India Ltd pay dividends?

Ganga Papers India Ltd has a dividend yield of 0.00 % at the current price of ₹68.60. 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 Ganga Papers 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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