MarketFriction

Balkrishna Paper Mills Ltd

NSE BALKRISHNA · BSE 539251 · Paper & Paper Products
₹15.94 -2.15%
NSE close2026-10-01
52 week range12.00 - 25.33
Market cap₹50.7 Cr.
GSM Price band 20% Delivery 84.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales0.551.361.570.000.000.651.671.121.021.710.891.76
Expenses0.781.742.240.240.270.841.841.281.212.001.151.91
Operating Profit-0.23-0.38-0.67-0.24-0.27-0.19-0.17-0.16-0.19-0.29-0.26-0.15
OPM %-41.82%-27.94%-42.68%-29.23%-10.18%-14.29%-18.63%-16.96%-29.21%-8.52%
Other Income-28.65-1.65-25.228.21-1.28-0.368.36-0.35-0.431.82-0.56-0.34
Interest1.712.072.661.831.561.251.221.251.161.741.931.30
Depreciation0.020.010.370.000.000.000.000.000.000.000.000.00
Profit before tax-30.61-4.11-28.926.14-3.11-1.806.97-1.76-1.78-0.21-2.75-1.79
Tax %0.00%0.00%-0.07%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit-30.61-4.11-28.906.14-3.11-1.816.96-1.76-1.78-0.21-2.76-1.80
EPS in Rs-9.51-1.28-8.971.91-0.97-0.562.16-0.55-0.55-0.07-0.86-0.56
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales156.44179.50208.11214.35196.11126.46242.38109.303.432.324.735.38
Expenses164.80191.45230.87237.04209.44135.65247.97144.374.393.165.626.27
Operating Profit-8.36-11.95-22.76-22.69-13.33-9.19-5.59-35.07-0.96-0.84-0.89-0.89
OPM %-5.34%-6.66%-10.94%-10.59%-6.80%-7.27%-2.31%-32.09%-27.99%-36.21%-18.82%-16.54%
Other Income44.285.302.350.110.222.7915.760.15-62.9114.920.480.49
Interest5.357.3310.6614.4512.9712.928.5010.997.215.886.096.13
Depreciation3.665.776.836.616.626.336.176.120.060.020.010.00
Profit before tax26.91-19.75-37.90-43.64-32.70-25.65-4.50-52.03-71.148.18-6.51-6.53
Tax %38.72%18.78%6.04%-3.21%5.66%0.74%4.00%-0.31%0.00%0.00%0.00%
Net Profit16.48-23.46-40.19-42.24-34.56-25.85-4.69-51.88-71.148.19-6.52-6.55
EPS in Rs5.12-7.29-12.48-13.12-10.73-8.03-1.46-16.11-22.082.54-2.02-2.04
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-30%-48%-65%56%
Compounded Profit Growth5%11%23%-15%
Stock Price CAGR-10%4%-6%-32%
Return on Equity%%%%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital10.7410.7410.7410.7410.7410.7410.7410.7410.7410.7432.2232.22
Reserves47.8264.3738.39-1.85-43.99-78.68-104.52-109.25-161.20-232.62-201.15-207.66
Borrowings89.2481.9881.00128.72145.14176.80192.29204.74223.53215.20160.04166.09
Other Liabilities38.8249.7375.2372.3595.7987.13116.0280.8161.7352.0127.8127.20
Total Liabilities186.62206.82205.36209.96207.68195.99214.53187.04134.8045.3318.9217.85
Fixed Assets79.3377.24156.05155.16149.39145.66139.33127.73120.8826.810.420.40
CWIP65.1080.174.441.133.020.830.890.400.000.000.000.00
Investments1.0012.100.000.000.000.000.000.000.000.000.001.34
Other Assets41.1937.3144.8753.6755.2749.5074.3158.9113.9218.5218.5016.11
Total Assets186.62206.82205.36209.96207.68195.99214.53187.04134.8045.3318.9217.85
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2.85-1.933.96-36.42-3.48-14.1723.56-54.54-19.56-8.40-4.14-4.29
Cash from Investing Activity-2.2317.842.91-2.26-2.40-0.19-0.2118.532.1411.9123.892.78
Cash from Financing Activity-0.30-12.69-10.3638.665.9114.347.834.7817.79-3.53-19.350.88
Net Cash Flow0.323.22-3.48-0.020.03-0.0131.18-31.230.38-0.010.40-0.63
Free Cash Flow0.40-17.37-5.48-39.04-5.97-14.5723.34-36.03-17.523.9719.39-0.22
CFO/OP-148%-50%-29%160%15%114%-257%972%56%881%473%501%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days276.7924.2628.2828.6226.8021.1631.609.052.97188.3578.6616.21
Inventory Days463.3047.7550.9967.5973.0981.14104.0493.8238.44690.160.000.00
Days Payable668.84103.75157.45115.72164.55164.08222.7696.0578.54802.14
Cash Conversion Cycle71.25-31.74-78.18-19.51-64.66-61.78-87.116.82-37.1376.3878.6616.21
Working Capital Days-756.78-91.32-111.13-67.30-113.43-81.80-317.20-48.78-243.78-9,333.57-8,335.22-2,033.35
ROCE %-3.27%-7.56%-8.61%-20.46%-23.47%-17.88%-12.32%-9.38%-45.86%-3.01%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters58.71%58.71%58.71%59.95%59.95%59.95%59.95%59.95%59.95%59.95%59.95%59.95%
FIIs0.00%0.00%0.00%0.01%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DIIs0.00%0.00%0.00%0.00%0.00%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Public41.29%41.29%41.30%40.04%40.04%40.02%40.02%40.02%40.01%40.02%40.03%40.01%
No. of Shareholders12,29612,81013,46314,76715,32315,59915,51615,31715,13914,84214,83614,565

Fundamentals

Market Cap₹ 50.7 Cr.
Current Price₹ 15.7
Book Value₹ -54.4
ROCE%
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)56%
Compounded Profit Growth (TTM)-15%
Standalone figures.
Valuation
Market capRs 51 Cr
Enterprise valueRs 217 Cr
Price to book-0.29x
Price to sales9.55x
EV / sales40.35x
Earnings yield-12.75%
P/E, 3-year average6.67x
P/B, 3-year average-0.23x
P/E, 5-year average6.67x
P/B, 5-year average-0.23x
Profitability
Operating margin (excl. other income)-18.82%
Operating margin (incl. other income)-8.67%
EBITDA margin-7.25%
Pre-tax margin-121.38%
Net profit margin-121.75%
Net margin, latest quarter-102.27%
ROE3.79%
ROA-35.46%
ROE, 3-year average12.60%
ROCE, 3-year average-192.59%
ROA, 3-year average-29.65%
ROE, 5-year average16.87%
ROCE, 5-year average-78.15%
ROA, 5-year average-24.71%
Other income / net worth-0.27%
Growth
Sales growth (latest year)103.88%
Profit growth (latest year)-179.61%
Sales CAGR, 3 years-64.89%
Sales CAGR, 5 years-48.17%
Sales growth QoQ97.75%
Sales growth YoY (latest quarter)57.14%
Per share
EPS (TTM)Rs -2.03
EPS (latest year)Rs -2.02
EPS (latest quarter)Rs -0.56
EPS, 3-year averageRs -21.91
EPS, 5-year averageRs -23.68
Book value per shareRs -54.45
Sales per shareRs 1.67
Cash flow per shareRs -1.33
Free cash flow per shareRs -0.07
Efficiency
Asset turnover0.27x
Fixed asset turnover11.82x
Debtor days16 days
Debtors turnover22.52x
Creditor days802 days
Cash conversion cycle16 days
Working capital days-2033 days
Leverage
Total debtRs 166 Cr
Cash and bankRs 0 Cr
Net debtRs 166 Cr
Debt to equity-0.95x
Interest coverage-0.07x
Owners' fund to total sources-982.86%
Debt to assets930.48%
Cash flow
Cash from Operating Activity (latest year)Rs -4 Cr
Cash from Investing Activity (latest year)Rs 3 Cr
Cash from Financing Activity (latest year)Rs 1 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -0 Cr
FCFE (approx.: FCF + change in debt)Rs 6 Cr
Statement figures
Net sales (TTM)Rs 5 Cr
Net sales (latest year)Rs 5 Cr
Sales (latest quarter)Rs 2 Cr
Operating profit excl. other income (latest year)Rs -1 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs -0 Cr
PBDT (TTM)Rs -7 Cr
Profit before tax (TTM)Rs -7 Cr
Net profit (TTM)Rs -7 Cr
Net profit (latest year)Rs -7 Cr
Net profit (latest quarter)Rs -2 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 4 Cr
Total expenditure (latest year)Rs 6 Cr
Total income (latest year)Rs 5 Cr
Share capitalRs 32 Cr
ReservesRs -208 Cr
Shareholders' fundsRs -175 Cr
Total assetsRs 18 Cr
Net blockRs 0 Cr
InvestmentsRs 1 Cr
ReceivablesRs 0 Cr
Other liabilitiesRs 27 Cr
Shares outstanding (crore)3.22
Ownership
Promoter holding59.95% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodBALKRISHNANifty 50Difference
1 week+0.3%-2.8% +3.0 pts
1 month-6.1%-6.8% +0.7 pts
3 months-14.3%-7.6% -6.6 pts
6 months+18.1%+0.4% +17.7 pts
1 year-33.8%-9.9% -23.9 pts
2 years-43.0%-13.6% -29.5 pts
3 years-44.7%+14.2% -58.8 pts
5 years-17.2%+27.9% -45.1 pts

Red flags

F-score 4 of 8
seriousNegative equity Shareholders' equity is negative
lookOn NSE surveillance On NSE surveillance: GSM
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹2 Cr +57.1% vs Jun 2025. Net loss ₹2 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-23Annual General Meeting
2024-03-15Rights 2:1 @ Premium Rs 11/-
2023-07-28Annual General Meeting
2022-09-02Annual General Meeting
2021-07-15 Annual General Meeting
2020-08-27 Annual General Meeting
2019-08-29 Annual General Meeting
2018-08-30 Annual General Meeting
2017-07-12 Annual General Meeting
2016-09-01 Annual General Meeting
2015-08-13 Annual General Meeting
DateTypeWhat it says
2026-09-18Shareholder meetingWe wish to inform you that the Shareholders of the Company at 13th Annual General Meeting held on 18th September, 2026 at 3.00 P.M. through Video Conf...
2026-08-27Shareholder meetingNotice of undefined to be held on September 18, 2026
2026-08-12Integrated Filing- FinancialWe wish to inform you that the Board of Directors of the Company in their meeting held on 12th August, 2026, have inter alia approved the Un-audited F...
2026-08-12Board meeting outcomeBalkrishna Paper Mills Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026:We wish to inform you that the B...
2026-07-02Shareholder meetingProceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results:Further to our Po...
2026-07-01Reply to Clarification- FinaThe Exchange had sought clarification from Balkrishna Paper Mills Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI ...
2026-06-20Shareholder meetingProceedings of Extraordinary General Meeting held on Jun 19, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along ...
2026-05-29Shareholder meetingNotice of Postal Ballot:Sub: Postal Ballot Notice regarding: 1. Scheme of Reduction of Share Capital of the Company;2. Material Related Party Transact...
2026-05-22General UpdatesGeneral Updates:We wish to inform you that the Board of Directors of the Company in their meeting held on Friday, the 22nd May, 2026, have inter alia ...
2026-05-22Integrated Filing- FinancialWe wish to inform you that the Board of Directors of the Company in their meeting held on Friday, the 22nd May, 2026, have inter alia approved the fol...
2026-05-22Board meeting outcomeBalkrishna Paper Mills Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.:We wish to inform you that th...
2026-05-18Disclosure under SEBI TakeovBalkrishna Paper Mills Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India...
2026-05-15Disclosure under SEBI TakeovAnurag P. Poddar has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial ...
2026-04-18General UpdatesGeneral Updates:This is in connection with our letter dated 23rd December, 2025 informing about the decision taken by the Board of Directors of Balkri...
2026-04-10Related Party TransactionsRelated Party Transactions:We wish to inform you that the Board of Directors of the Company at its meeting held today, have interalia approved the fol...
2026-04-10Adoption of new line(s) of bAdoption of new line(s) of business
2026-04-10Board meeting outcomeOutcome of Board Meeting held on April 10, 2026:We wish to inform you that the Board of Directors of the Company at its meeting held today, have inter...
2026-03-14General UpdatesGeneral Updates;Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015...
2026-02-07Board meeting outcomeBalkrishna Paper Mills Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.:We wish to inform you that...
2026-02-07Board meeting outcomeBoard meeting held on February 07, 2026.Outcome of Board Meeting - Unaudited Financial Results
2026-02-07Board meeting outcomeBoard meeting held on February 07, 2026.:Unaudited Financial Results as on 31 12 2025
2026-02-07Board meeting outcomeBoard meeting held on February 07, 2026.:We wish to inform you that the Board of Directors of the Company in their meeting held on 7th February, 2026,...
2025-12-23Other RestructuringOther Restructuring
2025-12-23Board meeting outcomeBoard meeting held on December 23, 2025.:Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosures Requirement...
2025-11-15General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
EPS in the scrip is zero (4 trailing quarters)GSMLess than 100 unique PAN traded in previous 30 daysLoss making
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03