EMAMIPAPCommodities

Emami Paper Mills Limited

Paper & Paper Products · ISIN INE830C01026 · BSE 533208 · NSE EQ · FV ₹2
Last price
₹117
+1.85%today
What this company does

Emami Paper Mills Limited operates in Paper & Paper Products, part of the Commodities sector. It booked ₹590 cr of revenue in its latest quarter (Q2 FY27) and kept 7.5% of sales as profit. It is the 8th largest of 9 Paper & Paper Products companies we track, by market value.

In the report:
66out of 100
Equitytale Health Score
Solid

Healthier than 66% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 91–176 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
50

At close. Not part of the score.

Profitability & returns82

How much profit it earns on the money it employs

Balance sheet18

How much it owes, and whether earnings cover the interest

Cash quality87

Whether reported profit actually arrives as cash

Growth & consistency49

Whether sales and profit have grown, and how steadily

Valuation75

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 31% vs last year
✓ Profit up 575% vs last year
✓ Promoters hold 75%
✓ No promoter shares pledged
✓ Strong 35% return on equity
✓ Turns profit into real cash
Watch-outs
! Thin 7.5% net margin
! Carries high debt (D/E 1.8)

What if I invest in EMAMIPAP?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 2% a year, it would become
₹13.28 lakh

The slider starts at 2%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹117▲ +1.85%
latest close · 2026-11-04
1-year return
-30.8%
52-wk low ₹9552-wk high ₹198
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio4.1Low
LowAverageHigh
P/B ratio1.39Moderate
Below bookModerateHigh
EV / EBITDA4.4Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity34.9%Strong
WeakFairStrong ▸15%
Return on capital27.5%Strong
WeakFairStrong
Net margin7.5%Decent
ThinDecentStrong
EBITDA margin16.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.83High
LowModerateHigh ▸1
Interest cover4.1×Okay
RiskyOkayStrong ▸5×
Current ratio1.13Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹710 cr
Book value
₹84
EPS
₹7.18
latest quarter
Net debt
₹932 cr
owes more than its cash
Enterprise value
₹1,642 cr
EBITDA
₹377 cr
annualised
EBIT
₹323 cr
annualised
Operating margin
13.7%
Return on assets
9.4%
Earnings yield
24.47%
P/S
0.30
Sales / share
₹389.9
Tax rate
27.2%
Face value
₹2
Shares
6.1 cr
Working capital
₹97 cr
Current assets
₹816 cr
Current liabilities
₹720 cr
Delivery %
46.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The models disagree too widely to call this cheap or dear — likely a hard-to-compare or transitioning business.
Models span ₹38–₹123, midpoint ₹49

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹590 cr
Other Income₹1 cr
Total Income₹591 cr
Cost of Materials₹380 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹1 cr
Employee Benefit Expense₹25 cr
Finance Costs₹20 cr
Depreciation & Amortisation₹14 cr
Other Expenses₹91 cr
Total Expenses₹530 cr
Profit before Tax₹61 cr
Tax Expense₹17 cr
Net Profit₹44 cr
Net margin on total income7.5%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹381 cr64.5%
Employee benefit expense₹25 cr4.2%
Finance costs₹20 cr3.3%
Depreciation & amortisation₹14 cr2.3%
Other expenses₹91 cr15.4%
Tax expense₹17 cr2.8%
Profit for the period₹44 cr7.5%
Total income ₹591 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue496 cr560 cr590 cr
Total income510 cr560 cr591 cr
Expenses464 cr507 cr530 cr
Profit before tax47 cr53 cr61 cr
Tax16 cr15 cr17 cr
Net profit (owners' share)32 cr39 cr44 cr
Net margin (owners' share, on revenue)6.3%6.9%7.5%
EPS (₹)5.016.217.18
YoY (latest quarter): total income +29.8% · net profit +575.2%
Balance sheet & cash flow · as of Sep 2026
High debt
Total assets
₹1,892 cr
Shareholder equity
₹510 cr
parent shareholders
Total debt
₹932 cr
Cash
₹14 L
Cash flow · H1 FY27
Operating
₹87 cr
Investing
₹-17 cr
Financing
₹-70 cr
Peer comparison
Paper & Paper Products · by market value
CompanyPriceMarket capP/E
JK Paper Limited₹366₹6,642 cr16.4
West Coast Paper Mills Limited₹802₹5,294 cr9.9
ANDHRA PAPER LIMITED₹63₹1,262 cr75.5
Seshasayee Paper and Boards Limited₹207₹1,244 cr7.3
N R Agarwal Industries Limited₹719₹1,224 cr9.9
Tamil Nadu Newsprint & Papers Limited₹135₹932 cr40.6
Pudumjee Paper Products Limited₹87₹829 cr9.1
Emami Paper Mills Limitedthis company₹115₹697 cr4.0
Satia Industries Limited₹65₹646 cr—
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
2.73%
trailing 12 months
Dividend / share (TTM)
₹3.2
Last dividend
₹3.2
ex 28 Aug 2026
ActionDetailEx-date
Dividend₹3.2 / share28 Aug 2026
Dividend₹1.6 / share26 Aug 2025
Dividend₹1.6 / share21 Aug 2024
Dividend₹1.6 / share5 Sep 2023
Dividend₹1.6 / share11 Aug 2022
Dividend₹1.2 / share1 Aug 2019
Who owns it · 2026-09-30
No pledge
Promoter
75.0%
FII / Foreign
0.5%
DII / Domestic
—
Retail / others
24.5%
Smart-money activity
Insider trades
BoughtJAYANT GOENKA · Promoter Group2.10 L · ₹1.8 cr26 Feb 26
BoughtSACHIN GOENKA · Promoter Group2.10 L · ₹1.8 cr26 Feb 26
BoughtMANSI AGARWAL · Promoter Group2,284 · ₹2.0 L26 Feb 26
Bulk / block deals
BoughtANANT WEALTH CONSULTANTS PRIVATE LIMITED · NSE5.49 L @ ₹169.5811 Jan 22
SoldANANT WEALTH CONSULTANTS PRIVATE LIMITED · NSE5.49 L @ ₹170.7511 Jan 22
Stake changes
BoughtDiwakar Finvest Private Limited · promoter→ 74.97%26 Feb 26
BothDiwakar Finvest Private Limited · promoter→ 27.03% · 7.49 L13 Jun 24
SoldL&T Mutual Fund→ 4.64% · 12.17 L14 Sep 21
Promoter pledges
ReleasedRBL Bank Limited (Lender)29.00 L · 4.79% held20 Feb 20
ReleasedRBL Bank Limited29.00 L · 4.79% held20 Feb 20
ReleasedRBL bank Limited (Lender)29.00 L · 4.79% held20 Feb 20
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 8 Jan 2026
See the official result
1
To consider and approve the appointment and payment of remuneration of Shri Sushil Kumar Khetan (DIN:00358577) as a Whole-time Director, liable to retire by rotation, designated as Whole-time Director and Chief Executive Officer (CEO) of the Company.
Backed by 100% of shareholders other than promotersneeded 75%
7.94 L votes for, 3,939 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 32 named members
owning 75.0% between them · as of 2026-09-30
DIWAKAR FINVEST PRIVATE LIMITED27.05%
SURAJ FINVEST PRIVATE LIMITED23.99%
EMAMI LIMITED13.13%
PRITI A SUREKA3.75%
RAJKUMAR GOENKA1.36%
RADHESHYAM GOENKA1.16%
MANISH GOENKA0.69%
MOHAN GOENKA0.69%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.