MarketFriction

Malu Paper Mills Ltd

NSE MALUPAPER · BSE 532728 · Paper & Paper Products
₹31.04 -1.37%
NSE close2026-10-01
52 week range27.00 - 44.11
Market cap₹54.4 Cr.
Price band 20% Delivery 61.3%

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
Sales68.1561.5175.3957.6664.8362.7593.2094.4356.4976.90106.72123.52
Expenses64.0457.2070.5956.7665.7663.8092.5199.1959.6379.99102.23117.67
Operating Profit4.114.314.800.90-0.93-1.050.69-4.76-3.14-3.094.495.85
OPM %6.03%7.01%6.37%1.56%-1.43%-1.67%0.74%-5.04%-5.56%-4.02%4.21%4.74%
Other Income0.000.000.000.000.000.000.000.000.000.000.000.00
Interest2.622.583.102.412.682.823.512.543.112.922.822.59
Depreciation1.251.251.261.291.291.301.451.371.371.371.371.43
Profit before tax0.240.480.44-2.80-4.90-5.17-4.27-8.67-7.62-7.380.301.83
Tax %25.00%27.08%79.55%-29.64%-25.10%-29.01%-33.96%-29.18%-26.64%-30.89%1,030.00%30.05%
Net Profit0.170.360.10-1.97-3.67-3.67-2.82-6.15-5.59-5.10-2.801.28
EPS in Rs0.100.210.06-1.15-2.15-2.15-1.65-3.61-3.28-2.99-1.640.75
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales221243279274226170212234274278333364
Expenses200220261251213164208235258279340360
Operating Profit212218231364-117-1-74
OPM %9%9%6%9%6%3.4%1.7%-0.4%6%-0.3%-2.1%1.1%
Other Income211111111110
Interest16141210888911111111
Depreciation555555555566
Profit before tax342101-6-8-141-17-23-13
Tax %31%31%32%26%39%-6%-24%-25%39%-29%-16%
Net Profit23171-6-6-101-12-20-12
EPS in Rs1.141.690.864.350.39-3.38-3.67-6.130.53-7.11-11.45-7.16
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%14%13%15%
Compounded Profit Growth%%-49%25%
Stock Price CAGR5%-2%-8%-16%
Return on Equity%%%%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital171717171717171717171717
Reserves-4-277141470-11-10-23-43
Borrowings111108110101898893104123132145155
Other Liabilities343318342122333422293451
Total Liabilities157156152159140140151155151167172181
Fixed Assets928984807980767168656768
CWIP000110000500
Investments000000000000
Other Assets65666777606074848397105113
Total Assets157156152159140140151155151167172181
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1920201919154-2-9947
Cash from Investing Activity-3-213-4-4-10-2-8-3-7
Cash from Financing Activity-16-19-22-22-16-11-2211-2-1-1
Net Cash Flow00-0-0-11-00-000-0
Free Cash Flow1619201815112-2-11211
CFO/OP89%102%91%109%80%120%61%-62%964%55%-411%-104%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days353835363242705135414543
Inventory Days50495762616210199901088970
Days Payable4442426444581157743555477
Cash Conversion Cycle404550344946567382948036
Working Capital Days-22-51-53-58-78-112-99-95-84-108-121
ROCE %15%15%15%11%16%8%1%-0%-4%9%-4%-9%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters69.95%69.95%69.95%69.95%69.80%69.80%69.80%69.80%69.80%69.80%69.80%69.80%
Public30.05%30.06%30.05%30.06%30.19%30.20%30.19%30.19%30.21%30.19%30.20%30.19%
No. of Shareholders8,0218,1849,5199,3309,94610,2149,89310,0239,7969,7659,4549,253

Fundamentals

Market Cap₹ 54.4 Cr.
Current Price₹ 31.9
Book Value₹ -14.9
ROCE-8.73 %
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)25%
Standalone figures.
Valuation
Market capRs 53 Cr
Enterprise valueRs 205 Cr
Price to book-2.08x
Price to sales0.15x
EV / EBITDA49.82x
EV / sales0.56x
Price to cash flow7.30x
Earnings yield-23.06%
P/E, 3-year average68.71x
P/B, 3-year average-0.98x
P/E, 5-year average68.71x
P/B, 5-year average1.62x
Profitability
Operating margin (excl. other income)-2.10%
Operating margin (incl. other income)-1.87%
EBITDA margin1.13%
Pre-tax margin-3.54%
Net profit margin-3.36%
Net margin, latest quarter1.04%
ROE125.15%
ROCE-8.73%
ROA-11.05%
ROE, 3-year average-702.49%
ROCE, 3-year average-1.20%
ROA, 3-year average-5.88%
ROE, 5-year average-445.26%
ROCE, 5-year average-1.64%
ROA, 5-year average-5.71%
ROIC (approx.)-0.95%
Tax rate15.78%
Other income / net worth-3.02%
Growth
Sales growth (latest year)19.94%
Sales CAGR, 3 years12.53%
Sales CAGR, 5 years14.47%
Sales growth QoQ15.74%
Sales growth YoY (latest quarter)30.81%
Per share
EPS (TTM)Rs -7.16
EPS (latest year)Rs -11.45
EPS (latest quarter)Rs 0.75
EPS, 3-year averageRs -6.01
EPS, 5-year averageRs -5.57
Book value per shareRs -14.94
Sales per shareRs 213.16
Cash flow per shareRs 4.25
Free cash flow per shareRs 0.59
Efficiency
Asset turnover1.84x
Fixed asset turnover4.92x
Inventory turnover7.00x
Inventory days52 days
Debtor days43 days
Debtors turnover8.55x
Creditor days77 days
Cash conversion cycle36 days
Working capital days-121 days
Leverage
Total debtRs 155 Cr
Cash and bankRs 4 Cr
Net debtRs 152 Cr
Debt to equity-6.10x
Net debt / EBITDA36.94x
Interest coverage-0.12x
Owners' fund to total sources-14.08%
Debt to assets85.85%
Cash flow
Cash from Operating Activity (latest year)Rs 7 Cr
Cash from Investing Activity (latest year)Rs -7 Cr
Cash from Financing Activity (latest year)Rs -1 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 1 Cr
FCFE (approx.: FCF + change in debt)Rs 12 Cr
Sales to cash flow45.97x
Statement figures
Net sales (TTM)Rs 364 Cr
Net sales (latest year)Rs 333 Cr
Sales (latest quarter)Rs 124 Cr
Operating profit excl. other income (latest year)Rs -7 Cr
Operating profit (latest quarter)Rs 6 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 4 Cr
PBDT (TTM)Rs -7 Cr
Profit before tax (TTM)Rs -13 Cr
Tax (latest year)Rs -4 Cr
Net profit (TTM)Rs -12 Cr
Net profit (latest year)Rs -20 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 11 Cr
Cost of goods sold (latest year)Rs 303 Cr
Total expenditure (latest year)Rs 340 Cr
Total income (latest year)Rs 334 Cr
Share capitalRs 17 Cr
ReservesRs -43 Cr
Shareholders' fundsRs -25 Cr
Total assetsRs 181 Cr
Net blockRs 68 Cr
InvestmentsRs 0 Cr
ReceivablesRs 39 Cr
InventoryRs 43 Cr
Other liabilitiesRs 51 Cr
Shares outstanding (crore)1.71
Ownership
Promoter holding69.80% (+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).
PeriodMALUPAPERNifty 50Difference
1 week-2.4%-2.8% +0.4 pts
1 month-2.8%-6.8% +4.0 pts
3 months-0.2%-7.6% +7.4 pts
6 months+14.4%+0.4% +14.0 pts
1 year-21.4%-9.9% -11.5 pts
2 years-35.7%-13.6% -22.1 pts
3 years-24.5%+14.2% -38.7 pts
5 years-11.4%+27.9% -39.3 pts

Red flags

F-score 4 of 8
seriousNegative equity Shareholders' equity is negative
lookRepeated losses Net loss in each of the last two years
lookAuditor change Auditor change 2026-02-06: Malu Paper Mills Limited has informed the Exchange regarding Change in Auditors of the company.
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 ₹124 Cr +30.8% vs Jun 2025. Net profit ₹1 Cr +120.8%.
Against our estimate for Jun 2026: sales +10.4%, profit +117.4% big beat. Our estimate for Sep 2026: sales Rs 69 Cr, profit Rs -3 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-17Annual General Meeting
2023-09-18Annual General Meeting
2022-09-20Annual General Meeting
2021-09-07 Annual General Meeting
2020-09-15 Annual General Meeting
2019-09-18 Annual General Meeting
2018-09-11 Annual General Meeting
2017-09-14 Annual General Meeting
2016-09-15 Annual General Meeting
2015-09-10 Annual General Meeting
2014-09-11Annual General Meeting
2012-09-13Annual General Meeting
2011-09-15Annual General Meeting
2010-09-08Annual General Meeting
2009-09-17Annual General Meeting
2008-09-18Annual General Meeting
2007-09-13Agm
DateTypeWhat it says
2026-09-26AppointmentAppointment of Mrs Priyanka Gandhi as Other of the company w.e.f. April 01, 2026.
2026-09-25Shareholder meetingShareholders meeting
2026-09-23Shareholder meetingShareholders meeting
2026-09-02Shareholder meetingShareholders meeting
2026-09-02Shareholder meetingShareholders meeting
2026-08-28Record DateRecord date for the purpose of Meeting is 15-Sep-2026.
2026-08-28Shareholder meetingShareholders meeting
2026-07-23Board meeting outcomeMalu Paper Mills Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-06-22Disclosure under SEBI TakeovBanwarilal Malu has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial A...
2026-06-03Disclosure under SEBI TakeovMalu Paper Mills Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Subs...
2026-05-28General UpdatesGeneral Updates
2026-05-28Board meeting outcomeMalu Paper Mills Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-02-11Board meeting outcomeMalu Paper Mills Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-11Board meeting outcomeBoard meeting held on February 11, 2026.
2026-02-06Change in AuditorsChange in Auditors of the company.
2025-11-12Board meeting outcomeMalu Paper Mills Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-11-12Board meeting outcomeBoard meeting held on November 12, 2025.
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)Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Malu Paper Mills Ltd?

Malu Paper Mills Ltd (MALUPAPER) has a market capitalisation of Rs 54.4 Cr. at the 2026-10-01 close.

What were Malu Paper Mills Ltd's latest quarterly results?

In the Jun 2026 quarter, Malu Paper Mills Ltd sales was Rs 124 Cr (+30.8% vs Jun 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Malu Paper Mills Ltd?

The 52-week high is Rs 44.11 and the 52-week low is Rs 27.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03