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Last Updated: April 2, 2026, 3:43 am
Author: Getaka|Social: XLinkedIn

Star Paper Mills Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹111.66Overvalued by 12.77%vs CMP ₹128.00

P/E (5.1) × ROE (5.9%) × BV (₹449.00) × DY (2.73%)

₹258.36Undervalued by 101.84%vs CMP ₹128.00
MoS: +50.5% (Strong)Confidence: 61/100 (Moderate)Models: 8 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹113.1021%Over (-11.6%)
Graham NumberEarnings₹502.8615%Under (+292.9%)
Earnings PowerEarnings₹320.1110%Under (+150.1%)
DCFCash Flow₹286.9513%Under (+124.2%)
Net Asset ValueAssets₹449.287%Under (+251%)
EV/EBITDAEnterprise₹217.608%Under (+70%)
Dividend DiscountDividends₹23.648%Over (-81.5%)
Earnings YieldEarnings₹250.307%Under (+95.5%)
ROCE CapitalReturns₹161.917%Under (+26.5%)
Revenue MultipleRevenue₹279.045%Under (+118%)
Consensus (10 models)₹258.36100%Undervalued
Key Drivers: Wide model spread (₹24–₹503) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 1.3%

*Investments are subject to market risks

Investment Snapshot

49
Star Paper Mills Ltd scores 49/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 7.8% WeakROE 5.9% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 44.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 11% Steady
Quarterly Momentum30/100 · Weak
Revenue (4Q): -3% YoY FlatProfit (4Q): -23% YoY DecliningOPM: 0.7% (down 7.3% YoY) Margin pressure
Industry Rank55/100 · Moderate
P/E 5.1 vs industry 25.3 Cheaper than peersROCE 7.8% vs industry 9.3% AverageROE 5.9% vs industry 134.8% Below peers3Y sales CAGR: 10% Moderate

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: April 2, 2026, 3:43 am

Market Cap 200 Cr.
Current Price 128
Intrinsic Value₹258.36
High / Low 190/116
Stock P/E5.12
Book Value 449
Dividend Yield2.73 %
ROCE7.76 %
ROE5.91 %
Face Value 10.0
PEG Ratio3.98

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

View Share Price Target for Star Paper Mills Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Star Paper Mills Ltd 200 Cr. 128 190/1165.12 4492.73 %7.76 %5.91 % 10.0
Shreyans Industries Ltd 191 Cr. 138 268/1225.40 3182.17 %16.3 %12.6 % 10.0
Genus Paper & Boards Ltd 266 Cr. 10.4 22.0/8.6528.3 20.30.00 %4.73 %0.61 % 1.00
Ballarpur Industries Ltd 110 Cr. 0.85 / 3.140.00 %1.75 %12.8 % 2.00
Orient Paper & Industries Ltd 341 Cr. 16.1 31.5/13.2 73.30.00 %2.60 %3.08 % 1.00
Industry Average694.36 Cr69.4125.25107.280.86%9.32%134.80%6.50

All Competitor Stocks of Star Paper Mills Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 115.75123.41123.57105.66114.81100.43113.85110.9197.48114.09101.16104.3791.82
Expenses 90.52108.81101.0290.39101.0294.98104.03101.8889.69103.8894.8997.2391.20
Operating Profit 25.2314.6022.5515.2713.795.459.829.037.7910.216.277.140.62
OPM % 21.80%11.83%18.25%14.45%12.01%5.43%8.63%8.14%7.99%8.95%6.20%6.84%0.68%
Other Income -5.718.483.998.497.0810.558.2410.064.501.1411.875.5411.80
Interest 0.110.200.110.190.190.340.230.230.260.240.230.250.23
Depreciation 1.301.391.321.381.381.371.371.391.382.251.591.611.62
Profit before tax 18.1121.4925.1122.1919.3014.2916.4617.4710.658.8616.3210.8210.57
Tax % 29.65%23.45%21.43%31.55%23.52%-0.07%15.55%16.94%27.51%43.34%21.51%-20.33%22.33%
Net Profit 12.7416.4519.7415.1914.7614.3113.9114.527.715.0112.8113.028.22
EPS in Rs 8.1610.5412.659.739.469.178.919.304.943.218.218.345.27

Last Updated: March 3, 2026, 2:34 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 275271272324347378341233331493444436411
Expenses 283256246253274328293212299412387399387
Operating Profit -8152771724948213280573724
OPM % -3%5%10%22%21%13%14%9%10%16%13%8%6%
Other Income -21125779189302430
Interest 5331111101111
Depreciation 11544445555567
Profit before tax -2682168725249254483815347
Tax % -15%-107%20%11%25%-3%24%30%17%21%21%23%
Net Profit -22161660545337183766644139
EPS in Rs -14.159.9610.5738.6734.7634.0823.8811.2223.4842.0741.0026.3625.03
Dividend Payout % 0%0%0%5%7%7%10%22%15%12%10%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)172.73%0.00%275.00%-10.00%-1.85%-30.19%-51.35%105.56%78.38%-3.03%-35.94%
Change in YoY Net Profit Growth (%)0.00%-172.73%275.00%-285.00%8.15%-28.34%-21.16%156.91%-27.18%-81.41%-32.91%

Star Paper Mills 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%
5 Years:5%
3 Years:10%
TTM:-3%
Compounded Profit Growth
10 Years:10%
5 Years:3%
3 Years:4%
TTM:-33%
Stock Price CAGR
10 Years:22%
5 Years:13%
3 Years:-6%
1 Year:-27%
Return on Equity
10 Years:10%
5 Years:8%
3 Years:10%
Last Year:6%

Last Updated: September 5, 2025, 1:36 pm

Balance Sheet

Last Updated: December 10, 2025, 3:27 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16161616161616161616161616
Reserves 173148337390440473486519579632665686
Borrowings 201474210110554
Other Liabilities 117109106157154135142147136134137137140
Total Liabilities 170170176514562592630650672728790822846
Fixed Assets 918685404405410412415415414425424423
CWIP 1112747633323
Investments 323232467881899411347194203239
Other Assets 465158617196122135141265167194182
Total Assets 170170176514562592630650672728790822846

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 31512393631182919472615
Cash from Investing Activity + 1-0-3-35-31-28-4-25-13-41-94
Cash from Financing Activity + -4-10-10-3-7-5-8-5-5-6-9-8
Net Cash Flow -05-11-2-25-20-1712
Free Cash Flow 214935312582217421511
CFO/OP -20%100%47%74%68%85%55%161%89%83%84%71%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-28.001.0020.0067.0070.0048.0048.0020.0031.0080.0052.0032.00

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 9914887417235
Inventory Days 617090113144131224294189179219225
Days Payable 17621120514813610512411273574635
Cash Conversion Cycle -107-133-102-271633104182122124176194
Working Capital Days -88-82-52-19-213404243446381
ROCE %-28%19%36%32%19%12%10%5%9%17%13%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 44.93%44.93%44.93%44.93%44.93%44.93%44.93%44.93%44.93%44.93%44.93%44.93%
FIIs 1.77%1.89%1.84%1.70%1.70%1.71%1.76%1.69%1.69%1.71%1.68%1.68%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%
Public 53.30%53.17%53.24%53.37%53.37%53.37%53.31%53.37%53.38%53.35%53.38%53.39%
No. of Shareholders 20,50119,81320,27219,32017,49416,74616,98217,20417,24417,23817,29416,874

Shareholding Pattern Chart

No. of Shareholders

Star Paper Mills 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.) 26.3641.0142.0823.4811.22
Diluted EPS (Rs.) 26.3641.0142.0823.4811.22
Cash EPS (Rs.) 30.4544.4945.4626.9114.57
Book Value[Excl.RevalReserv]/Share (Rs.) 436.24414.70380.83342.65321.55
Book Value[Incl.RevalReserv]/Share (Rs.) 436.24414.70380.83342.65321.55
Dividend / Share (Rs.) 3.504.005.003.502.50
Revenue From Operations / Share (Rs.) 279.55284.77315.66211.77149.52
PBDIT / Share (Rs.) 38.9557.0164.9932.0519.66
PBIT / Share (Rs.) 34.8653.5261.6128.6216.31
PBT / Share (Rs.) 34.2451.8353.4028.3215.94
Net Profit / Share (Rs.) 26.3641.0142.0823.4811.22
PBDIT Margin (%) 13.9320.0120.5815.1313.15
PBIT Margin (%) 12.4618.7919.5113.5110.91
PBT Margin (%) 12.2418.2016.9113.3710.66
Net Profit Margin (%) 9.4214.3913.3211.087.50
Return on Networth / Equity (%) 6.049.8811.046.853.49
Return on Capital Employeed (%) 7.0711.3414.267.214.30
Return On Assets (%) 5.008.109.015.452.69
Asset Turnover Ratio (%) 0.540.580.700.490.36
Current Ratio (X) 6.916.205.254.273.43
Quick Ratio (X) 4.374.033.492.842.13
Inventory Turnover Ratio (X) 3.472.092.561.931.13
Dividend Payout Ratio (NP) (%) 15.1712.198.3110.6422.27
Dividend Payout Ratio (CP) (%) 13.1311.237.699.2817.15
Earning Retention Ratio (%) 84.8387.8191.6989.3677.73
Cash Earning Retention Ratio (%) 86.8788.7792.3190.7282.85
Interest Coverage Ratio (X) 63.06106.23181.33105.6652.95
Interest Coverage Ratio (Post Tax) (X) 43.6879.56140.3178.4031.22
Enterprise Value (Cr.) 210.09324.2385.32208.89146.80
EV / Net Operating Revenue (X) 0.480.720.170.630.62
EV / EBITDA (X) 3.463.640.844.184.78
MarketCap / Net Operating Revenue (X) 0.550.780.460.740.80
Retention Ratios (%) 84.8287.8091.6889.3577.72
Price / BV (X) 0.350.530.380.460.37
Price / Net Operating Revenue (X) 0.550.780.460.740.80
EarningsYield 0.170.180.280.140.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 436.34 Cr. and Equity Capital is Rs. 15.61 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Paper & Paper ProductsDuncan House, 2nd Floor, 31, Netaji Subhas Road, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Mr. G P GoenkaChairman Emeritus
Mr. Madhukar MishraManaging Director
Mr. Shrivardhan GoenkaNon Executive Director
Mrs. Pragya JhunjhunwalaNon Executive Director
Dr. R C LodhaIndependent Director
Mr. Anoop MishraIndependent Director
Mr. Atulmani SharmaIndependent Director

FAQ

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

As of 11 April 2026, Star Paper Mills Ltd's intrinsic value is ₹258.36, which is 101.84% higher than the current market price of ₹128.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (5.91 %), book value (₹449), dividend yield (2.73 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Star Paper Mills Ltd?

Star Paper Mills Ltd is trading at ₹128.00 as of 11 April 2026, with a FY2026-2027 high of ₹190 and low of ₹116. The stock is currently near its 52-week low. Market cap stands at ₹200 Cr..

How does Star Paper Mills Ltd's P/E ratio compare to its industry?

Star Paper Mills Ltd has a P/E ratio of 5.12, which is below the industry average of 25.25. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Star Paper Mills Ltd financially healthy?

Key indicators for Star Paper Mills Ltd: ROCE of 7.76 % is on the lower side compared to the industry average of 9.32%; ROE of 5.91 % is below ideal levels (industry average: 134.80%). Dividend yield is 2.73 %.

Is Star Paper Mills Ltd profitable and how is the profit trend?

Star Paper Mills Ltd reported a net profit of ₹41 Cr in Mar 2025 on revenue of ₹436 Cr. Compared to ₹37 Cr in Mar 2022, the net profit shows an improving trend.

Does Star Paper Mills Ltd pay dividends?

Star Paper Mills Ltd has a dividend yield of 2.73 % at the current price of ₹128.00. This is a relatively attractive yield for income-seeking investors.

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 Star Paper Mills 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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