ANDHRA PAPER (ANDHRAPAP) had a P/E of 23.4× on 6 Nov 2026, above the industry P/E of 14.0×, and the shares are 23% below their 52-week high. Sales and net profit fell 6.7% and 67% a year over 3 years, with ROCE of 1.9% and ROE of 2.7%. Debt is 0.15× equity, and its dividend yield is 0.8%. It is a small-cap company with a market cap of ₹1,223 Cr, ranked 4th of 43 Paper & Paper Products companies by market cap; the shares fell 19% over the past year.
- ₹62.75
- ₹62.80
- ₹61.05
- ₹62.75
- 2 L
Health check
- ReturnsBehind
−19.1% over a year, better than 1 of 7 peers.
- Price tagPricier
P/E 23.4 vs industry 14.0.
- GrowthShrinking
Sales −6.7%, profit −67.1% a year over 3 years.
- ProfitabilityWeak
ROCE 1.9% vs peer median 6.2%.
- Balance sheetFair
Debt 0.15× equity, interest covered 2.5×, Piotroski 5 of 9.
- Red flags2 to check
Return on equity is low at 2.7%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,223 Cr
- Small cap
- P/E
- 23.4
- Industry 14.0
- Price to book
- 0.64
- Peers 1.18
- Dividend yield
- 0.81%
- ROE
- 2.7%
- Peers 6.1%
- ROCE
- 1.9%
- Peers 6.2%
- Debt to equity
- 0.15
- Debt ₹287 Cr
- EPS (TTM)
- ₹2.63
- Face value ₹2
- OPM (TTM)
- 6.7%
- Net margin 3.0%
- Sales growth
- +17.7%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.69
- EV/EBITDA 6.6
Strengths and risks
Strengths
- Quarterly sales up 17.7% on a year ago.
Risks to check
- Return on equity is low at 2.7%.
- P/E of 23.4 against an industry P/E of 14.0.
About ANDHRA PAPER
Andhra Paper Limited engages in the manufacture and sale of pulp, paper, and paperboard in India and internationally. The company offers writing and printing grades for book, notebook, notepad, diary, calendar, journals, annual report, envelopes, and commercial printing applications; copier products for high-speed copying, printing, and office documentation applications; and industrial grades for paper cups, straw, pharma leaflet, POS rolls, outer cover…
- Headquarters
- Kolkata
- Employees
- 1,928
- Sector
- Basic Materials
- ISIN
- INE435A01051
- Website
- andhrapaper.com
Price range
- Avg volume (3M)
- 14.5 L
- 1-year return
- minus 19.1%
- From 52-week high
- minus 22.9%
Peers · Paper & Paper Products
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JKPAPERJK Paper | 368.00 | minus 0.90% | 6,673 | 18.9 | 9.2 | 6.2% | 10.1% | 0.43 | 2.8% | minus 3.9% |
| WSTCSTPAPRWest Coast Paper Mills | 738.15 | minus 11.24% | 4,875 | 21.2 | 9.7 | 5.9% | 11.5% | 0.08 | −4.5% | plus 84.7% |
| SESHAPAPERSeshasayee Paper and Boards | 216.45 | minus 0.48% | 1,365 | 11.0 | 8.5 | 4.4% | 7.0% | – | −6.3% | minus 15.5% |
| ANDHRAPAPANDHRA PAPER | 61.52 | minus 1.96% | 1,223 | 23.4 | 10.7 | 1.9% | 4.8% | 0.15 | −6.7% | minus 19.1% |
| NRAILN R Agarwal Industries | 673.00 | minus 0.25% | 1,145 | 18.4 | 10.8 | 7.7% | 9.9% | 1.01 | 6.9% | plus 43.2% |
| TNPLTamil Nadu Newsprint & Papers | 136.26 | minus 2.23% | 943 | 3.6 | 4.9 | 6.3% | 10.2% | 0.70 | −3.6% | minus 8.9% |
| PDMJEPAPERPudumjee Paper Products | 87.80 | minus 0.93% | 834 | 9.2 | 5.4 | – | 14.3% | 0.05 | 2.1% | minus 24.4% |
| EMAMIPAPEmami Paper Mills | 114.81 | minus 0.35% | 695 | 8.5 | 6.8 | 13.6% | 12.0% | 1.83 | −7.1% | plus 16.3% |
| Median of 7 peers | – | −0.90% | 1,145 | 11.0 | 8.5 | 6.2% | 10.2% | 0.56 | −3.6% | −3.9% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 362 | 419 | 527 | 394 | 426 | |
| 369 | 403 | 502 | 345 | 397 | |
| −6.8 | 15.4 | 25.1 | 48.8 | 28.8 | |
| −1.9% | 3.7% | 4.8% | 12.4% | 6.8% | |
| 10.2 | 28.7 | 17.5 | 21.7 | 9.8 | |
| 4.2 | 4.6 | 3.7 | 2.9 | 5.3 | |
| 26.9 | 27.4 | 27.1 | 27 | 27.6 | |
| −27.7 | 12.2 | 11.8 | 40.5 | 5.7 | |
| 27.0% | 19.1% | 34.3% | 25.2% | 25.4% | |
| −20.3 | 9.8 | 7.7 | 30.3 | 4.3 | |
| -1.02 | 0.50 | 0.39 | 1.52 | 0.21 |
Profit & loss
- Sales CAGR 3Y
- −6.7%
- Profit CAGR 3Y
- −67.1%
- EPS CAGR 3Y
- −67.0%
- ROE
- 2.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,083 | 1,783 | 1,522 | 1,693 | |
| – | minus 14.4% | minus 14.6% | +11.2% | |
| 1,340 | 1,345 | 1,374 | 1,605 | |
| 743 | 438 | 148 | 87.8 | |
| 35.7% | 24.6% | 9.7% | 5.2% | |
| 40.2 | 43.4 | 24.8 | 19.3 | |
| 6.7 | 3.9 | 15.2 | 17.2 | |
| 63.2 | 65.9 | 88.3 | 107 | |
| −12.2 | 43.9 | 47.4 | 42.8 | |
| 701 | 456 | 117 | 25.4 | |
| 25.5% | 25.4% | 24.1% | 26.6% | |
| 522 | 340 | 88.9 | 18.6 | |
| – | minus 35.0% | minus 73.8% | minus 79.1% | |
| 26.27 | 17.09 | 4.47 | 0.94 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.8 | 39.8 | 39.8 | 39.8 | |
| 1,542 | 1,853 | 1,901 | 1,900 | |
| 50.3 | 109 | 283 | 232 | |
| 372 | 448 | 381 | 367 | |
| 2,005 | 2,451 | 2,605 | 2,538 | |
| 641 | 939 | 1,092 | 1,307 | |
| 66.5 | 146 | 69.1 | 307 | |
| 175 | 172 | 165 | 147 | |
| 753 | 878 | 748 | 519 | |
| 369 | 316 | 531 | 258 | |
| 2,005 | 2,451 | 2,605 | 2,538 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 536 | 319 | −55.4 | 105 | |
| −499 | −334 | −61.2 | 1.7 | |
| −41.3 | 5 | 109 | −93.9 | |
| −4.1 | −10.3 | −7.3 | 12.4 | |
| −115 | −331 | −265 | −299 | |
| 421 | −12.3 | −320 | −194 | |
| −29.8 | −49.7 | −39.8 | −19.9 |
Shareholding pattern
- Promoters72.45%
- Public27.55%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 72.45% | 27.55% | 0.00 | |
| 30 Jun 2026 | 72.45% | 27.55% | 0.00 | |
| 31 Mar 2026 | 72.45% | 27.55% | 0.00 | |
| 31 Dec 2025 | 72.45% | 27.55% | 0.00 | |
| 30 Sep 2025 | 72.45% | 27.55% | – |
Major shareholders
Filings & events
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