As of 6 Nov 2026, The South India Paper Mills trades at 14.5× trailing earnings, above the industry P/E of 14.0×, and the shares are 16% below their 52-week high. Sales grew 15% a year over 3 years, with ROCE of 10% and ROE of 7.3%. Debt is 0.66× equity. It is a small-cap company with a market cap of ₹213 Cr, ranked 19th of 43 Paper & Paper Products companies by market cap; the shares rose 45% over the past year.
- ₹115.85
- ₹118.50
- ₹111.70
- ₹116.40
- 5.7K
Health check
- ReturnsAhead
+45.0% over a year, better than 6 of 7 peers.
- Price tagIn line
P/E 14.5 vs industry 14.0.
- GrowthStrong
Sales +14.7% a year over 3 years.
- ProfitabilityAverage
ROCE 10.4% vs peer median 6.0%.
- Balance sheetFair
Debt 0.66× equity, interest covered 1.7×, Piotroski 9 of 9.
- Red flags2 to check
Return on equity is low at 7.3%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹213 Cr
- Small cap
- P/E
- 14.5
- Industry 14.0
- Price to book
- 0.92
- Peers 1.16
- Dividend yield
- 0.00%
- ROE
- 7.3%
- Peers 5.8%
- ROCE
- 10.4%
- Peers 6.0%
- Debt to equity
- 0.66
- Debt ₹154 Cr
- EPS (TTM)
- ₹7.86
- OPM (TTM)
- 12.0%
- Net margin 3.6%
- Sales growth
- +10.0%
- Latest quarter vs a year ago
- Profit growth
- +407.1%
- Latest quarter vs a year ago
- Price to sales
- 0.47
- EV/EBITDA 6.2
Strengths and risks
Strengths
- Quarterly profit up 407.1% on a year ago.
Risks to check
- Return on equity is low at 7.3%.
- Interest coverage of only 2.6×.
About The South India Paper Mills
The South India Paper Mills Limited manufactures and sells paper, paperboards, and cartons in India. The company provides corrugating case raw materials, including kraft liner substitutes, test liners, white kraft liners, fluting grades, high performance fluting and test liners, and various grades for packaging applications. It also offers plain brown boxes, glued or stapled closures, boxes, and shelf ready packaging products. In addition, it is involved…
- Headquarters
- Bengaluru
- Employees
- 344
- Sector
- Basic Materials
- ISIN
- INE088G01014
- Website
- sipaper.com
Price range
- Avg volume (3M)
- 17.8K
- 1-year return
- plus 45.0%
- From 52-week high
- minus 16.3%
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% |
| STHINPAThe South India Paper Mills | 113.85 | minus 2.19% | 213 | 14.5 | 7.1 | 10.4% | 12.0% | 0.66 | 14.7% | plus 45.0% |
| Median of 7 peers | – | −0.93% | 1,223 | 18.4 | 9.2 | 6.0% | 10.1% | 0.29 | −3.6% | −8.9% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 94.1 | 107 | 101 | 114 | 118 | |
| – | – | – | +21.1% | +10.0% | |
| 88.1 | 96.5 | 89.2 | 98.9 | 102 | |
| 6 | 10.4 | 12.2 | 15.1 | 15.2 | |
| 6.4% | 9.7% | 12.0% | 13.2% | 13.0% | |
| 0.2 | 0.1 | 0.1 | 0.3 | 0.2 | |
| 4.9 | 5.1 | 4.9 | 5.1 | 4.6 | |
| 4.2 | 4.1 | 4.2 | 4.2 | 4.2 | |
| −2.9 | 1.3 | 3.2 | 6.1 | 6.7 | |
| 22.6% | 25.2% | 25.2% | 25.1% | 25.2% | |
| −2.3 | 1 | 2.4 | 4.6 | 5 | |
| -1.20 | 0.52 | 1.27 | 2.44 | 2.65 |
Profit & loss
- Sales CAGR 3Y
- +14.7%
- ROE
- 7.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 287 | 311 | 369 | 433 | |
| – | +8.5% | +18.3% | +17.6% | |
| 293 | 294 | 347 | 382 | |
| −5.8 | 17.5 | 21.8 | 51.5 | |
| −2.0% | 5.6% | 5.9% | 11.9% | |
| 0.3 | −0.2 | −0.4 | −1.1 | |
| 15.8 | 17.6 | 19.2 | 19.7 | |
| 16 | 17.9 | 16.6 | 16.6 | |
| 13.3 | 0.3 | 1.6 | 0.3 | |
| −24 | −17.9 | −12.8 | 14.3 | |
| 30.6% | 24.9% | 24.6% | 25.1% | |
| −16.7 | −13.4 | −9.6 | 10.7 | |
| -11.08 | -7.16 | -5.14 | 5.73 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.8 | 18.8 | 18.8 | 18.8 | |
| 215 | 202 | 192 | 204 | |
| 192 | 198 | 175 | 156 | |
| 64.6 | 38.4 | 57 | 70.5 | |
| 490 | 457 | 443 | 449 | |
| 364 | 334 | 321 | 308 | |
| 20.5 | 3 | 3.3 | 3.3 | |
| – | – | 0.1 | 0.1 | |
| 29 | 0 | 0 | 2.1 | |
| 76.7 | 119 | 119 | 135 | |
| 490 | 457 | 443 | 449 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.7 | −18.4 | 40.3 | 42.6 | |
| −13.3 | −1.4 | 1.6 | −1.5 | |
| 18 | −12.3 | −41.2 | −39 | |
| 5.4 | −32.2 | 0.6 | 2.1 | |
| −27.2 | −4.1 | −2.8 | −3.9 | |
| −26.4 | −22.5 | 37.5 | 38.6 | |
| −1.5 | −0.1 | −0.1 | −0 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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