Emami Paper Mills Limited
NSE: EMAMIPAP · Paper & Paper Products · sector
₹113.25NSE close 2026-10-26
Key numbers
Market cap₹685 cr
Price₹113.25
52w high / low₹134 / ₹55
P/E7.7xSector median 13.8x
P/B1.2xSector median 0.6x
Book value₹95.1
Dividend yield2.12%Sector median 1.38%
ROE14.9%Sector median 5.8%
ROCE14.7%Sector median 5.9%
OPM12.0%Sector median 8.2%
Debt / equity1.42xSector median 0.42x
EV/EBITDA6.2xSector median 8.0x
Interest cover3.0x
Current ratio1.11x
Sales growth 3y-6.2%Sector median -4.5%
Profit growth 3y-3.9%Sector median -13.6%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 40 companies in Paper & Paper Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1 cr vs borrowings ₹817 cr (FY26): borrowings are higher by ₹816 cr.
- Operating profit covered interest 3.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY23).
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 21% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹113.25 on 2026-10-26: -15.3% from the 52-week high, +105.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹124.31 · low ₹61.68
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 495 | 454 | 475 | 460 | 451 | 500 | 496 | 560 |
| EBITDA | 37 | 29 | 31 | 38 | 36 | 57 | 63 | 83 |
| OPM % | 7.5% | 6.4% | 6.6% | 8.2% | 8.0% | 11.5% | 12.8% | 14.8% |
| Other income | 1 | 1 | 2 | 2 | 5 | 1 | 14 | 0 |
| Net profit | 8 | 2 | 4 | 6 | 7 | 17 | 32 | 39 |
| EPS (₹) | 1.05 | 0.08 | 0.45 | 0.84 | 1.02 | 2.47 | 5.01 | 6.21 |
| Revenue YoY | -9.0% | +10.2% | +4.5% | +21.8% | ||||
| Profit YoY | -13.3% | +899.4% | +703.6% | +511.9% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,958 | 2,308 | 1,994 | 1,928 | 1,907 | 2,008 |
| EBITDA | 308 | 222 | 236 | 142 | 195 | 240 |
| Net profit | 115 | 69 | 84 | 26 | 61 | 94 |
| EPS (₹) | 18.17 | 10.62 | 13.12 | 3.49 | 9.34 | 14.71 |
| Revenue growth | +17.9% | -13.6% | -3.3% | -1.1% | +6.6% | |
| Profit growth | -39.7% | +21.9% | -69.1% | +136.0% | +379.9% | |
| Dividend / share (₹) | – | 1.60 | 1.60 | 1.60 | 1.60 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -6.2% | +9.4% | +6.6% |
| Net profit | -3.9% | +3.8% | +379.9% |
| EPS | -4.2% | +2.1% | – |
| Share price | – | +3.2% (2y) | +14.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 699 | 774 | 678 | 575 |
| Borrowings | – | 858 | 606 | 769 | 817 |
| Cash & equivalents | – | 0 | 5 | 6 | 1 |
| Total assets | – | 1,976 | 1,714 | 1,817 | 1,822 |
| Fixed assets | – | 1,144 | 1,082 | 1,057 | 1,028 |
| Capital work in progress | – | 4 | 10 | 4 | 5 |
| Investments | – | 39 | 45 | 54 | 39 |
| Receivables | – | 263 | 261 | 253 | 274 |
| Inventory | – | 409 | 247 | 369 | 388 |
| Payables | – | 209 | 117 | 145 | 196 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 329 | 32 | 351 | 44 | 197 |
| Cash from investing | -34 | -24 | -10 | -17 | -26 |
| Cash from financing | -307 | -9 | -336 | -32 | -172 |
| Capex | 35 | 26 | 20 | 20 | 30 |
| Free cash flow | 294 | 6 | 332 | 23 | 168 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 9.9% | 10.9% | 3.8% | 10.7% |
| ROCE % | – | 10.1% | 13.0% | 6.5% | 11.6% |
| Debtor days | – | 42 | 48 | 48 | 52 |
| Inventory days | – | 89 | 67 | 100 | 111 |
| Payable days | – | 45 | 32 | 39 | 56 |
| Cash conversion cycle (days) | – | 86 | 83 | 109 | 107 |
| Working capital days | – | -11 | 2 | 6 | 13 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.97% |
| FIIs | 0.52% |
| Public (non-institutions) | 24.51% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% | 74.97% |
| Promoter group | % |
|---|---|
| Diwakar Finvest Private Limited | 27.05% |
| Suraj Finvest Private Limited | 23.99% |
| Emami Limited | 13.13% |
| Priti A Sureka | 3.75% |
| Rajkumar Goenka | 1.36% |
| Radheshyam Goenka | 1.16% |
| Manish Goenka | 0.69% |
| Mohan Goenka | 0.69% |
| Sachin Goenka | 0.35% |
| Jayant Goenka | 0.35% |
| Sushil Kumar Goenka | 0.34% |
| Santosh Goenka | 0.23% |
| Saroj Goenka | 0.23% |
| Shruti Goenka | 0.21% |
| Ashish Goenka HUF | 0.21% |
| Public holders above 1% | % |
|---|---|
| BPC Tradecom Private Limited | 4.58% |
| Anand Rathi Global Finance Limited | 2.83% |
| Kamna Credits and Promoters PVT Ltd | 1.43% |
| East India Securities Ltd | 1.22% |
19,036 shareholders. Pledged: 0.00% of promoter shares.
Peers in Paper & Paper Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| JKPAPER | ₹6,689 cr | 20.2x | 1.2x | 5.9% | 8.0% | 12.9% | +3.2% | 1.27% |
| WSTCSTPAPR | ₹5,203 cr | 22.6x | 1.4x | 6.5% | 9.4% | 11.5% | -4.5% | 0.74% |
| SESHAPAPER | ₹1,290 cr | 13.0x | 0.6x | 4.9% | 5.9% | 6.5% | -6.3% | 1.22% |
| ANDHRAPAP | ₹1,279 cr | 46.3x | 0.7x | 1.4% | 2.4% | 4.8% | -6.7% | 1.56% |
| NRAIL | ₹1,122 cr | 18.1x | 1.4x | 7.8% | 10.0% | 9.7% | +6.7% | 0.31% |
| TNPL | ₹899 cr | 3.4x | 0.4x | 11.8% | 6.6% | 10.6% | -3.6% | 2.31% |
| PDMJEPAPER | ₹807 cr | 8.8x | 1.2x | 14.5% | 18.3% | 15.4% | +2.1% | 0.71% |
| EMAMIPAP | ₹685 cr | 7.7x | 1.2x | 14.9% | 14.7% | 12.0% | -6.2% | 2.12% |
| SATIA | ₹625 cr | – | 0.6x | -0.7% | 3.6% | 7.8% | -8.3% | 0.32% |
| KUANTUM | ₹623 cr | 17.3x | 0.5x | 3.0% | 4.9% | 13.8% | -5.8% | 4.18% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-28 | Dividend | Dividend - Rs 3.20 Per Share |
| 2025-08-26 | Dividend | Dividend - Rs 1.60 Per Share |
| 2024-08-21 | Dividend | Annual General Meeting/Dividend - Rs 1.60 Per Share |
| 2023-09-05 | Dividend | Annual General Meeting/Dividend - Rs 1.60 Per Share |
| 2022-08-11 | Dividend | Annual General Meeting/Dividend - Rs 1.60 Per Share |
| 2021-08-18 | Other | Annual General Meeting |
| 2020-09-11 | Other | Annual General Meeting |
| 2019-08-01 | Dividend | Dividend - Rs 1.20 Per Share |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing paper and paperboard: Manufacturing and Selling Multilayer Coated Paperboard, Newsprint, Writing & Printing paper and specialty paper
| Sector | Commodities |
| Industry | Paper & Paper Products |
| Sub-industry | Paper & Paper Products |
| Symbol | EMAMIPAP |
| BSE code | 533208 |
| ISIN | INE830C01026 |
| Face value | ₹2.0 |
| Incorporated | 1981-09-26 |
| Website | www.emamipaper.com |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.