Subam Papers (BSE: SUBAM) is loss-making over the last 12 months, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹212.05, 15% below its 52-week high. Sales grew 4.9% a year over 3 years. Debt is 0.41× equity. It is listed on an SME platform with a market cap of ₹583 Cr, ranked 11th of 43 Paper & Paper Products companies by market cap; the shares rose 51% over the past year.
- ₹208.00
- ₹218.05
- ₹208.00
- ₹222.00
- 4.8K
Health check
- ReturnsAhead
+50.5% over a year, better than 6 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +4.9% a year over 3 years, but loss-making now.
- ProfitabilityWeak
ROCE 2.0% vs peer median 6.0%.
- Balance sheetFair
Debt 0.41× equity, interest covered 25.9×, Piotroski 4 of 9.
- Red flags4 to check
Loss-making over the last twelve months.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹583 Cr
- Small cap
- P/E
- n/a
- Industry 14.0
- Price to book
- 1.27
- Peers 1.16
- Dividend yield
- 0.00%
- ROE
- 3.0%
- Peers 5.8%
- ROCE
- 2.0%
- Peers 6.0%
- Debt to equity
- 0.41
- Debt ₹169 Cr
- EPS (TTM)
- −₹0.10
- OPM (TTM)
- 7.5%
- Net margin 1.0%
- Sales growth
- −70.7%
- Latest quarter vs a year ago
- Profit growth
- −103.2%
- Latest quarter vs a year ago
- Price to sales
- 0.96
- EV/EBITDA 16.0
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at 3.0%.
- Quarterly profit down 103.2% on a year ago.
- Quarterly sales down 70.7% on a year ago.
About Subam Papers
Subam Papers Limited engages in the manufacture and sale of kraft paper and paper products in India and internationally. It offers duplex boards, corrugated boxes, paper cones, and tubes. The company also provides packaging solutions. The company was formerly known as Subam Papers Private Limited and changed its name to Subam Papers Limited in May 2024. Subam Papers Limited was incorporated in 2004 and is headquartered in Tirunelveli, India.
- Headquarters
- Tirunelveli
- Sector
- Basic Materials
- ISIN
- INE0U6201010
- Website
- subampapers.com
Price range
- Avg volume (3M)
- 15.7K
- 1-year return
- plus 50.5%
- From 52-week high
- minus 14.6%
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% |
| SUBAMSubam Papers | 212.05 | minus 4.48% | 583 | – | 16.5 | 2.0% | 7.5% | 0.41 | 4.9% | plus 50.5% |
| 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 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 584 | −287 | 146 | 141 | 171 | |
| 539 | −270 | 137 | 132 | 159 | |
| 44.8 | −17.1 | 8.4 | 8.7 | 12.9 | |
| 7.7% | 6.0% | 5.8% | 6.2% | 7.5% | |
| 1.1 | 0.8 | 0.6 | −1.4 | 0.6 | |
| 17.1 | −8.4 | 4.5 | 3.9 | 4.2 | |
| 19.2 | −11 | 4.3 | 6.7 | 6.5 | |
| 9.5 | 3 | 0.2 | −3.2 | 2.8 | |
| 19.1% | −22.4% | 375.2% | −2.3% | 136.3% | |
| 10.8 | 2.3 | 0.1 | −2.4 | −0.3 | |
| 4.64 | – | 0.06 | -1.02 | -0.13 |
Profit & loss
- Sales CAGR 3Y
- +4.9%
- ROE
- 3.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 504 | 489 | 538 | 583 | |
| – | minus 3.1% | +10.2% | +8.2% | |
| 470 | 421 | 483 | 554 | |
| 33.9 | 67.6 | 55.4 | 29.1 | |
| 6.7% | 13.8% | 10.3% | 5.0% | |
| 4.7 | 4.9 | −0 | 0.7 | |
| 17.1 | 19.5 | 0.5 | 0.4 | |
| 16 | 13 | 18.2 | 19.2 | |
| −1.8 | −1 | 0 | −0.7 | |
| 3.7 | 39 | 36.7 | 9.5 | |
| 118.5% | 27.5% | 27.5% | 19.1% | |
| −0.3 | 28.6 | 26.4 | 10.8 | |
| – | – | minus 7.7% | minus 59.2% | |
| -0.12 | 12.32 | 15.12 | 4.44 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.6 | 1.6 | 23.2 | 27.5 | |
| 164 | 196 | 294 | 371 | |
| 163 | 187 | 168 | 169 | |
| 85.9 | 80.5 | 86.5 | 144 | |
| 414 | 465 | 572 | 711 | |
| 222 | 250 | 294 | 401 | |
| 6.7 | 22 | 51.4 | 44.3 | |
| 0.1 | 2 | 33.7 | 5.6 | |
| 7.6 | 9 | 3.1 | 2.4 | |
| 178 | 182 | 189 | 258 | |
| 414 | 465 | 572 | 711 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 71.6 | 38.5 | 32.2 | 37 | |
| −64.8 | −38.1 | −93.2 | −89.2 | |
| −7.1 | 2.9 | 55.1 | 51.5 | |
| −0.2 | 3.3 | −5.9 | −0.7 | |
| −65.8 | −41.7 | −50.6 | −114 | |
| 5.8 | −3.2 | −18.4 | −76.7 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders. Institutions hold about 3.2% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.