Tamil Nadu Newsprint & Papers (TNPL) had a P/E of 3.6× on 6 Nov 2026, below the industry P/E of 14.0×, and the shares are 18% below their 52-week high. It earns ROCE of 6.3% and ROE of 11%, and sales and net profit fell 3.6% and 14% a year over 3 years. Its dividend yield is 2.9%, and debt is 0.70× equity. It is a small-cap company with a market cap of ₹943 Cr, ranked 6th of 43 Paper & Paper Products companies by market cap; the shares fell 8.9% over the past year.
- ₹139.37
- ₹139.37
- ₹135.00
- ₹139.37
- 1.3 L
Health check
- ReturnsIn line
−8.9% over a year, better than 3 of 7 peers.
- Price tagCheaper
P/E 3.6 vs industry 14.0.
- GrowthShrinking
Sales −3.6%, profit −13.9% a year over 3 years.
- ProfitabilityWeak
ROCE 6.3% vs peer median 6.0%.
- Balance sheetStretched
Debt 0.70× equity, interest covered 1.3×, Piotroski 4 of 9.
- Red flags1 to check
Interest coverage of only 2.9×.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹943 Cr
- Small cap
- P/E
- 3.6
- Industry 14.0
- Price to book
- 0.41
- Peers 1.18
- Dividend yield
- 2.94%
- ROE
- 11.3%
- Peers 5.8%
- ROCE
- 6.3%
- Peers 6.0%
- Debt to equity
- 0.70
- Debt ₹1,613 Cr
- EPS (TTM)
- ₹37.70
- Face value ₹10
- OPM (TTM)
- 10.2%
- Net margin 5.6%
- Sales growth
- +0.2%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.20
- EV/EBITDA 5.1
Strengths and risks
Strengths
- Dividend yield of 2.94%.
- P/E of 3.6 against an industry P/E of 14.0.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Interest coverage of only 2.9×.
About Tamil Nadu Newsprint & Papers
Tamil Nadu Newsprint and Papers Limited manufactures and markets paper and paperboards in India and internationally. It operates in the Paper & Paper Board and Energy segments. The company provides printing and writing paper, such as premium office paper, copier paper, coated and uncoated multi-layer boards for packaging, as well as packaging boards; and generates power through turbogenerators and windmills. It also manufactures and sells cement. The…
- Headquarters
- Chennai
- Employees
- 2,757
- Sector
- Basic Materials
- ISIN
- INE107A01015
- Website
- tnpl.com
Price range
- Avg volume (3M)
- 3 L
- 1-year return
- minus 8.9%
- From 52-week high
- minus 17.9%
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% | 1,223 | 18.4 | 9.2 | 6.0% | 10.1% | 0.29 | −4.5% | −3.9% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,323 | 1,129 | 1,104 | 1,258 | 1,132 | |
| – | – | – | minus 5.0% | +0.2% | |
| 1,220 | 1,028 | 988 | 1,117 | 1,017 | |
| 103 | 101 | 116 | 141 | 115 | |
| 7.8% | 9.0% | 10.5% | 11.2% | 10.1% | |
| 57 | 12.5 | 25 | 20.2 | 13.7 | |
| 52.4 | 48.4 | 49.8 | 44.9 | 42.9 | |
| 76.9 | 77.3 | 79 | 78.2 | 78 | |
| 30.8 | −11.8 | 11.8 | 37.7 | 7.7 | |
| 28.3% | 37.3% | 42.6% | −537.4% | 25.3% | |
| 22.1 | −7.4 | 6.8 | 240 | 5.7 | |
| 3.20 | -1.07 | 0.98 | 34.72 | 0.83 |
Profit & loss
- Sales CAGR 3Y
- −3.6%
- Profit CAGR 3Y
- −13.9%
- EPS CAGR 3Y
- −13.9%
- ROE
- 11.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,117 | 4,643 | 4,443 | 4,582 | |
| – | minus 9.3% | minus 4.3% | +3.1% | |
| 4,064 | 3,846 | 3,974 | 4,065 | |
| 1,054 | 798 | 469 | 517 | |
| 20.6% | 17.2% | 10.5% | 11.3% | |
| −14.8 | 9 | 20.5 | 22.8 | |
| 156 | 191 | 186 | 175 | |
| 264 | 291 | 304 | 313 | |
| −16.3 | −0.8 | 6.1 | −1 | |
| 603 | 325 | 5.3 | 50.6 | |
| 35.7% | 35.9% | 29.7% | −389.6% | |
| 388 | 208 | 3.7 | 248 | |
| – | minus 46.3% | minus 98.2% | +6551.2% | |
| 56.04 | 30.08 | 0.54 | 35.80 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 69.4 | 69.4 | 69.4 | 69.4 | |
| 1,875 | 2,020 | 2,018 | 2,247 | |
| 1,871 | 1,801 | 1,604 | 1,613 | |
| 2,308 | 2,154 | 2,191 | 2,281 | |
| 6,123 | 6,045 | 5,883 | 6,210 | |
| 4,482 | 4,322 | 4,200 | 4,359 | |
| 27.9 | 22.9 | 101 | 480 | |
| 0.6 | 1.2 | 1.1 | 0.9 | |
| 115 | 47.1 | 25.1 | 14.8 | |
| 1,497 | 1,652 | 1,556 | 1,355 | |
| 6,123 | 6,045 | 5,883 | 6,210 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 806 | 419 | 570 | 596 | |
| −101 | −136 | −162 | −387 | |
| −652 | −270 | −493 | −161 | |
| 53.3 | 13.7 | −85.5 | 47.8 | |
| −107 | −143 | −174 | −397 | |
| 699 | 277 | 396 | 199 | |
| −27.7 | −55.4 | −6.9 | −20.8 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 6.1% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.