On 6 Nov 2026, JK Paper was priced at ₹368.00, or 18.9× trailing earnings, against an industry P/E of 14.0×, and the shares are 17% below their 52-week high. Sales grew 2.8% a year over 3 years while net profit fell 39%, with ROCE of 6.2% and ROE of 6.1%. Debt is 0.43× equity, and its dividend yield is 1.1%. It is a small-cap company with a market cap of ₹6,673 Cr, the largest of 43 Paper & Paper Products companies by market cap; the shares fell 3.9% over the past year.
- ₹372.00
- ₹372.00
- ₹360.50
- ₹371.35
- 3 L
Health check
- ReturnsIn line
−3.9% over a year, better than 4 of 7 peers.
- Price tagPricier
P/E 18.9 vs industry 14.0.
- GrowthSteady
Sales +2.8%, profit −39.4% a year over 3 years.
- ProfitabilityWeak
ROCE 6.2% vs peer median 6.1%.
- Balance sheetStretched
Debt 0.43× equity, interest covered 3.3×, Piotroski 1 of 9.
- Red flags1 to check
Return on equity is low at 6.1%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹6,673 Cr
- Small cap
- P/E
- 18.9
- Industry 14.0
- Price to book
- 1.18
- Peers 1.16
- Dividend yield
- 1.09%
- ROE
- 6.1%
- Peers 5.8%
- ROCE
- 6.2%
- Peers 6.1%
- Debt to equity
- 0.43
- Debt ₹2,502 Cr
- EPS (TTM)
- ₹19.45
- Face value ₹10
- OPM (TTM)
- 13.6%
- Net margin 4.6%
- Sales growth
- +11.9%
- Latest quarter vs a year ago
- Profit growth
- +37.5%
- Latest quarter vs a year ago
- Price to sales
- 0.90
- EV/EBITDA 8.6
Strengths and risks
Strengths
- Quarterly profit up 37.5% on a year ago.
- Positive operating cash flow in each of the last 4 years.
- Promoter stake up from 49.6% to 52.9%.
Risks to check
- Return on equity is low at 6.1%.
About JK Paper
JK Paper Limited engages in the production and sale of paper products in India. The company offers office and copier papers; writing and printing; coated paper and boards; packaging board solutions; and carton board, container board & label solutions. It sells its products under the JK Cedar, JK Copier, JK Copier Plus Anti-Microbial, JK Easy Copier, JK A Copier, JK Sparkle, Eco Rise, JK Excel Bond, JK Ledger, JK Cote Matt, JK Cedar Digital Gloss, JK Cedar…
- Headquarters
- New Delhi
- Employees
- 3,725
- Sector
- Basic Materials
- ISIN
- INE789E01012
- Website
- jkpaper.com
Price range
- Avg volume (3M)
- 4.5 L
- 1-year return
- minus 3.9%
- From 52-week high
- minus 16.7%
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 | – | −0.93% | 1,145 | 11.0 | 8.5 | 6.1% | 10.2% | 0.42 | −4.5% | −8.9% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 1,732 | 1,763 | 1,966 | 1,887 | 1,939 | |
| 1,510 | 1,586 | 1,689 | 1,597 | 1,656 | |
| 222 | 177 | 277 | 290 | 283 | |
| 12.8% | 10.1% | 14.1% | 15.4% | 14.6% | |
| −33.6 | 18.7 | 2.6 | 31.1 | 18.3 | |
| – | 47.5 | 59.5 | 39.8 | 53.7 | |
| 91.2 | 97 | 99.7 | 98.8 | 103 | |
| – | −14.4 | −3 | – | – | |
| 96.9 | 37 | 117 | 182 | 144 | |
| 22.3% | 25.6% | 22.8% | 25.6% | 29.0% | |
| 73.7 | 27.4 | 92 | 130 | 101 | |
| 4.07 | 1.61 | 5.07 | 7.18 | 5.59 |
Profit & loss
- Sales CAGR 3Y
- +2.8%
- Profit CAGR 3Y
- −39.4%
- EPS CAGR 3Y
- −40.8%
- ROE
- 6.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6,410 | 6,595 | 6,568 | 6,969 | |
| – | +2.9% | minus 0.4% | +6.1% | |
| 4,299 | 4,878 | 5,620 | 6,025 | |
| 2,111 | 1,716 | 948 | 944 | |
| 32.9% | 26.0% | 14.4% | 13.5% | |
| −2.8 | 28.7 | 15.8 | −45.4 | |
| 180 | 183 | 162 | 156 | |
| 282 | 310 | 332 | 377 | |
| −0.4 | 72.9 | 46.9 | −1.4 | |
| 1,646 | 1,325 | 517 | 364 | |
| 26.6% | 14.5% | 21.3% | 25.4% | |
| 1,196 | 1,122 | 409 | 266 | |
| – | minus 6.2% | minus 63.6% | minus 35.0% | |
| 70.59 | 59.15 | 22.55 | 14.66 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 169 | 169 | 169 | 181 | |
| 3,865 | 4,900 | 5,203 | 5,339 | |
| 2,803 | 2,204 | 1,885 | 2,578 | |
| 2,083 | 2,054 | 2,148 | 2,440 | |
| 8,920 | 9,328 | 9,406 | 10,538 | |
| 5,479 | 5,508 | 5,574 | 6,005 | |
| 151 | 71 | 135 | 443 | |
| 92.4 | 168 | 165 | 114 | |
| 864 | 1,041 | 430 | 576 | |
| 2,333 | 2,540 | 3,101 | 3,400 | |
| 8,920 | 9,328 | 9,406 | 10,538 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,762 | 1,376 | 643 | 773 | |
| −967 | −411 | −36.6 | −836 | |
| −787 | −938 | −656 | 175 | |
| 8 | 27.5 | −49.3 | 111 | |
| −224 | −240 | −251 | −503 | |
| 1,538 | 1,136 | 392 | 270 | |
| −161 | −127 | −84.7 | −84.6 |
Shareholding pattern
- Promoters52.94%
- Public47.06%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 52.94% | 47.06% | 0.00 | |
| 30 Jun 2026 | 52.94% | 47.06% | 0.00 | |
| 31 Mar 2026 | 52.94% | 47.06% | 0.00 | |
| 20 Mar 2026 | 52.94% | 47.06% | plus 3.31 | |
| 31 Dec 2025 | 49.63% | 50.37% | – |
Major shareholders
Filings & events
News
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