Star Paper Mills Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹105.76Overvalued by 31.77%vs CMP ₹155.00

P/E (7.8) × ROE (3.7%) × BV (₹454.00) × DY (1.61%)

₹258.05Undervalued by 66.48%vs CMP ₹155.00

MoS: +39.9% (Strong)Confidence: 57/100 (Moderate)Models: 7 Under, 1 Fair, 2 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹107.12	21%	Over (-30.9%)
Graham Number	Earnings	₹505.65	15%	Under (+226.2%)
Earnings Power	Earnings	₹320.35	10%	Under (+106.7%)
DCF	Cash Flow	₹287.17	12%	Under (+85.3%)
Net Asset Value	Assets	₹454.11	7%	Under (+193%)
EV/EBITDA	Enterprise	₹217.77	8%	Under (+40.5%)
Dividend Discount	Dividends	₹23.64	8%	Over (-84.7%)
Earnings Yield	Earnings	₹250.30	7%	Under (+61.5%)
ROCE Capital	Returns	₹163.64	7%	Fair (+5.6%)
Revenue Multiple	Revenue	₹279.26	5%	Under (+80.2%)
Consensus (10 models)		₹258.05	100%	Undervalued

Key Drivers: ROE 3.7% is below cost of equity. | Wide model spread (₹24–₹506) — 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

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 10:12 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 ₹436.00 Cr, versus ₹444.00 Cr in Mar 2024 (-1.8% year on year). Net profit for Mar 2025 was ₹41.00 Cr, versus ₹64.00 Cr in Mar 2024 (-35.9% 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 ₹15.00 Cr against net profit of ₹41.00 Cr. Cash flow covered 0.37 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 ₹4.00 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

Star Paper Mills Ltd scores 51/100 (Average)

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

Stock Health60/100 · Moderate

ROCE 4.2% WeakROE 3.7% WeakDebt/equity Not availableInterest Coverage 63.1x StrongProfitable 5/5 available years Reported history

Smart Money50/100 · Moderate

FII holding stable No changePromoter holding at 44.9% Stable

Earnings Quality60/100 · Moderate

CFO/NP ratio: 0.51x Partially cash-backedOPM 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 Rank45/100 · Moderate

P/E 7.8 vs industry 25.5 Lower P/EROCE 4.2% vs industry 16.1% Below peersROE 3.7% vs industry 7.5% Below peers3Y sales CAGR: 10% Moderate

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 24, 2026, 10:12 pm

Market Cap	242 Cr.
Current Price	155
Intrinsic Value	₹257.94
High / Low	178/116
Stock P/E	7.83
Book Value	454
Dividend Yield	1.61 %
ROCE	4.18 %
ROE	3.66 %
Face Value	10.0
PEG Ratio	6.09

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 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	242 Cr.	155	178/116	7.83	454	1.61 %	4.18 %	3.66 %	10.0
Genus Paper & Boards Ltd	288 Cr.	11.2	19.4/8.65	30.6	20.3	0.00 %	4.73 %	0.61 %	1.00
Shreyans Industries Ltd	180 Cr.	130	236/122		309	1.15 %	2.44 %	1.46 %	10.0
Orient Paper & Industries Ltd	356 Cr.	16.8	29.8/13.2		69.2	0.00 %	4.24 %	1.88 %	1.00
Magnum Ventures Ltd	128 Cr.	18.6	29.0/16.2		99.6	0.00 %	2.55 %	1.64 %	10.0
Industry Average	2,133.06 Cr	158.00		40.48	136.28	0.51%	14.29%	7.21%	6.52

All Competitor Stocks of Star Paper Mills 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	115.75	123.41	123.57	105.66	114.81	100.43	113.85	110.91	97.48	114.09	101.16	104.37	91.82
Expenses	90.52	108.81	101.02	90.39	101.02	94.98	104.03	101.88	89.69	103.88	94.89	97.23	91.20
Operating Profit	25.23	14.60	22.55	15.27	13.79	5.45	9.82	9.03	7.79	10.21	6.27	7.14	0.62
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	-5.71	8.48	3.99	8.49	7.08	10.55	8.24	10.06	4.50	1.14	11.87	5.54	11.80
Interest	0.11	0.20	0.11	0.19	0.19	0.34	0.23	0.23	0.26	0.24	0.23	0.25	0.23
Depreciation	1.30	1.39	1.32	1.38	1.38	1.37	1.37	1.39	1.38	2.25	1.59	1.61	1.62
Profit before tax	18.11	21.49	25.11	22.19	19.30	14.29	16.46	17.47	10.65	8.86	16.32	10.82	10.57
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	12.74	16.45	19.74	15.19	14.76	14.31	13.91	14.52	7.71	5.01	12.81	13.02	8.22
EPS in Rs	8.16	10.54	12.65	9.73	9.46	9.17	8.91	9.30	4.94	3.21	8.21	8.34	5.27

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

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 11:46 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	275	271	272	324	347	378	341	233	331	493	444	436	411
Expenses	283	256	246	253	274	328	293	212	299	412	387	399	387
Operating Profit	-8	15	27	71	72	49	48	21	32	80	57	37	24
OPM %	-3%	5%	10%	22%	21%	13%	14%	9%	10%	16%	13%	8%	6%
Other Income	-2	1	1	2	5	7	7	9	18	9	30	24	30
Interest	5	3	3	1	1	1	1	1	0	1	1	1	1
Depreciation	11	5	4	4	4	4	5	5	5	5	5	6	7
Profit before tax	-26	8	21	68	72	52	49	25	44	83	81	53	47
Tax %	-15%	-107%	20%	11%	25%	-3%	24%	30%	17%	21%	21%	23%
Net Profit	-22	16	16	60	54	53	37	18	37	66	64	41	39
EPS in Rs	-14.15	9.96	10.57	38.67	34.76	34.08	23.88	11.22	23.48	42.07	41.00	26.36	25.03
Dividend Payout %	0%	0%	0%	5%	7%	7%	10%	22%	15%	12%	10%	13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
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: July 22, 2026, 2:30 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	16	16	16	16	16	16	16	16	16	16	16	16
Reserves	31	48	337	390	440	473	486	519	579	632	665	693
Borrowings	14	7	4	2	1	0	1	1	0	5	5	4
Other Liabilities	109	106	157	154	135	142	147	136	134	137	137	125
Total Liabilities	170	176	514	562	592	630	650	672	728	790	822	838
Fixed Assets	86	85	404	405	410	412	415	415	414	425	424	420
CWIP	1	1	2	7	4	7	6	3	3	3	2	4
Investments	32	32	46	78	81	89	94	113	47	194	203	247
Other Assets	51	58	61	71	96	122	135	141	265	167	194	167
Total Assets	170	176	514	562	592	630	650	672	728	790	822	838

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 +	15	12	39	36	31	18	29	19	47	26	15	29
Cash from Investing Activity +	-0	-3	-35	-31	-28	-4	-25	-13	-41	-9	4	-36
Cash from Financing Activity +	-10	-10	-3	-7	-5	-8	-5	-5	-6	-9	-8	-7
Net Cash Flow	5	-1	1	-2	-2	5	-2	0	-1	7	12	-13
Free Cash Flow	14	9	35	31	25	8	22	17	42	15	11	21
CFO/OP	100%	47%	74%	68%	85%	55%	161%	89%	83%	84%	71%	212%

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	14.00	9.00	35.00	31.00	25.00	8.00	22.00	17.00	42.00	15.00	11.00	21.00

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	9	9	14	8	8	7	4	1	7	2	3	5
Inventory Days	61	70	90	113	144	131	224	294	189	179	219	225
Days Payable	176	211	205	148	136	105	124	112	73	57	46	35
Cash Conversion Cycle	-107	-133	-102	-27	16	33	104	182	122	124	176	194
Working Capital Days	-88	-82	-52	-19	-2	13	40	42	43	44	63	81
ROCE %	-28%	19%	36%	32%	19%	12%	10%	5%	9%	17%	13%	8%

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	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	1.84%	1.70%	1.70%	1.71%	1.76%	1.69%	1.69%	1.71%	1.68%	1.68%	1.68%	1.64%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	53.24%	53.37%	53.37%	53.37%	53.31%	53.37%	53.38%	53.35%	53.38%	53.39%	53.39%	53.43%
No. of Shareholders	20,272	19,320	17,494	16,746	16,982	17,204	17,244	17,238	17,294	16,874	16,510	16,183

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

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	26.36	41.01	42.08	23.48	11.22
Diluted EPS (Rs.)	26.36	41.01	42.08	23.48	11.22
Cash EPS (Rs.)	30.45	44.49	45.46	26.91	14.57
Book Value[Excl.RevalReserv]/Share (Rs.)	436.24	414.70	380.83	342.65	321.55
Book Value[Incl.RevalReserv]/Share (Rs.)	436.24	414.70	380.83	342.65	321.55
Dividend / Share (Rs.)	3.50	4.00	5.00	3.50	2.50
Revenue From Operations / Share (Rs.)	279.55	284.77	315.66	211.77	149.52
PBDIT / Share (Rs.)	38.95	57.01	64.99	32.05	19.66
PBIT / Share (Rs.)	34.86	53.52	61.61	28.62	16.31
PBT / Share (Rs.)	34.24	51.83	53.40	28.32	15.94
Net Profit / Share (Rs.)	26.36	41.01	42.08	23.48	11.22
PBDIT Margin (%)	13.93	20.01	20.58	15.13	13.15
PBIT Margin (%)	12.46	18.79	19.51	13.51	10.91
PBT Margin (%)	12.24	18.20	16.91	13.37	10.66
Net Profit Margin (%)	9.42	14.39	13.32	11.08	7.50
Return on Networth / Equity (%)	6.04	9.88	11.04	6.85	3.49
Return on Capital Employeed (%)	7.07	11.34	14.26	7.21	4.30
Return On Assets (%)	5.00	8.10	9.01	5.45	2.69
Asset Turnover Ratio (%)	0.54	0.58	0.70	0.49	0.36
Current Ratio (X)	6.91	6.20	5.25	4.27	3.43
Quick Ratio (X)	4.37	4.03	3.49	2.84	2.13
Inventory Turnover Ratio (X)	3.47	2.09	2.56	1.93	1.13
Dividend Payout Ratio (NP) (%)	15.17	12.19	8.31	10.64	22.27
Dividend Payout Ratio (CP) (%)	13.13	11.23	7.69	9.28	17.15
Earning Retention Ratio (%)	84.83	87.81	91.69	89.36	77.73
Cash Earning Retention Ratio (%)	86.87	88.77	92.31	90.72	82.85
Interest Coverage Ratio (X)	63.06	106.23	181.33	105.66	52.95
Interest Coverage Ratio (Post Tax) (X)	43.68	79.56	140.31	78.40	31.22
Enterprise Value (Cr.)	210.09	324.23	85.32	208.89	146.80
EV / Net Operating Revenue (X)	0.48	0.72	0.17	0.63	0.62
EV / EBITDA (X)	3.46	3.64	0.84	4.18	4.78
MarketCap / Net Operating Revenue (X)	0.55	0.78	0.46	0.74	0.80
Retention Ratios (%)	84.82	87.80	91.68	89.35	77.72
Price / BV (X)	0.35	0.53	0.38	0.46	0.37
Price / Net Operating Revenue (X)	0.55	0.78	0.46	0.74	0.80
EarningsYield	0.17	0.18	0.28	0.14	0.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

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

Star Paper Mills Ltd: the stored intrinsic value estimate is ₹258.05, compared with a stored share price of ₹155.00. The model value is 66.5% above that quote. The model classifies this as undervalued; 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 Star Paper Mills Ltd?

The stored share price is ₹155.00. Price-data record updated: 24 September 2026, 10:12 pm +05:30. This is not a live quote. The stored 52-week high / low is 178/116; this is a rolling range, not a financial-year range.

How have Star Paper Mills Ltd's revenue and profit changed?

Does Star Paper Mills Ltd's profit convert into cash?

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

Reported borrowings were ₹4.00 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 Star Paper Mills Ltd's P/E with other stocks?

The stored P/E is 7.83. 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 Star Paper Mills 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.