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Star Paper Mills (STARPAPER)₹154.10+5.61%Paper & Paper Products
In the Mar 2026 quarter (standalone), Star Paper Mills reported sales of ₹113 Cr, down 1.3% from Mar 2025, and net profit of −₹1.30 Cr, down 125.9% year on year. For the year to Mar 2026, sales were ₹411 Cr and net profit ₹33.02 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 124 | 106 | 115 | 101 | 114 | 111 | 97.77 | 114 | 101 | 105 | 91.99 | 113 |
| Expenses | 101 | 90.31 | 101 | 94.89 | 104 | 102 | 89.65 | 104 | 94.91 | 97.18 | 91.11 | 108 |
| Operating Profit | 22.60 | 15.30 | 13.83 | 5.46 | 9.84 | 9.05 | 7.81 | 10.23 | 6.28 | 7.15 | 0.63 | 4.46 |
| OPM % | 18.3% | 14.5% | 12.1% | 5.5% | 8.7% | 8.2% | 8.0% | 9.0% | 6.2% | 6.9% | 0.7% | 4.0% |
| Other Income | 3.98 | 8.48 | 7.07 | 10.53 | 8.23 | 10.04 | 4.49 | 1.13 | 11.85 | 5.53 | 11.79 | −5.56 |
| Interest | 0.10 | 0.18 | 0.20 | 0.35 | 0.24 | 0.22 | 0.25 | 0.25 | 0.22 | 0.24 | 0.22 | 0.20 |
| Depreciation | 1.31 | 1.37 | 1.37 | 1.36 | 1.36 | 1.38 | 1.37 | 2.24 | 1.58 | 1.60 | 1.61 | 2.14 |
| Profit before tax | 25.03 | 22.11 | 19.23 | 14.24 | 16.39 | 17.41 | 10.61 | 8.82 | 16.24 | 10.78 | 10.53 | −3.47 |
| Tax % | 21.5% | 31.6% | 23.6% | −0.1% | 15.6% | 17.0% | 27.6% | 43.4% | 21.6% | −20.3% | 22.4% | −62.9% |
| Exceptional items | 0.00 | 0.00 | −1.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 19.78 | 15.21 | 14.78 | 14.32 | 13.93 | 14.54 | 7.72 | 5.02 | 12.83 | 13.04 | 8.24 | −1.30 |
| EPS (Rs) | 12.69 | 9.75 | 9.47 | 9.18 | 8.93 | 9.32 | 4.95 | 3.22 | 8.23 | 8.36 | 5.28 | −0.84 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 273 | 325 | 348 | 379 | 342 | 234 | 332 | 494 | 445 | 437 | 411 | 411 |
| Expenses | 246 | 253 | 274 | 328 | 293 | 212 | 299 | 412 | 387 | 399 | 391 | 391 |
| Operating Profit | 27.04 | 71.16 | 72.12 | 49.06 | 48.08 | 21.02 | 32.09 | 80.12 | 57.07 | 37.07 | 18.03 | 18.52 |
| OPM % | 10.0% | 22.1% | 21.0% | 13.0% | 14.0% | 9.0% | 10.0% | 16.0% | 13.0% | 8.0% | 4.5% | 4.5% |
| Other Income | 0.99 | 1.99 | 4.99 | 6.99 | 6.98 | 8.99 | 17.98 | 8.98 | 29.94 | 23.97 | 23.95 | 23.61 |
| Interest | 2.99 | 0.99 | 0.99 | 1.01 | 0.99 | 0.99 | 0.00 | 1.01 | 1.01 | 1.01 | 0.99 | 0.88 |
| Depreciation | 3.98 | 3.98 | 3.99 | 3.98 | 4.98 | 4.99 | 4.98 | 4.98 | 4.98 | 5.98 | 6.97 | 6.93 |
| Profit before tax | 20.92 | 67.73 | 71.78 | 51.83 | 48.81 | 24.91 | 43.86 | 82.65 | 80.73 | 52.77 | 33.85 | 34.08 |
| Tax % | 20.0% | 11.0% | 25.0% | −3.0% | 24.0% | 30.1% | 17.1% | 21.0% | 21.1% | 23.1% | 4.0% | — |
| Exceptional items | 0.04 | 0.03 | 0.46 | 0.85 | 1.79 | 0.22 | 0.08 | −8.32 | −1.38 | 1.87 | 0.00 | 0.00 |
| Net Profit | 16.03 | 60.12 | 54.04 | 53.10 | 37.06 | 18.03 | 37.06 | 66.07 | 64.04 | 41.03 | 33.02 | 32.81 |
| EPS (Rs) | 10.60 | 38.78 | 34.83 | 34.16 | 23.93 | 11.25 | 23.51 | 42.13 | 41.06 | 26.40 | 21.02 | 21.03 |
| Dividend payout % | 0.0% | 5.0% | 7.0% | 7.1% | 10.0% | 22.1% | 15.1% | 12.1% | 10.0% | 13.1% | 12.1% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16.04 | 16.03 | 16.04 | 16.03 | 16.04 | 16.02 | 16.02 | 16.02 | 16.00 | 16.01 | 16.02 | 16.00 |
| Reserves | 31.09 | 48.14 | 338 | 391 | 441 | 474 | 487 | 520 | 580 | 633 | 666 | 694 |
| Borrowings | 14.01 | 7.02 | 4.01 | 2.01 | 1.01 | 0.00 | 1.01 | 1.01 | 0.00 | 5.00 | 5.00 | 4.00 |
| Other Liabilities | 109 | 106 | 156 | 153 | 134 | 141 | 146 | 135 | 133 | 136 | 136 | 124 |
| Total Liabilities | 170 | 176 | 514 | 563 | 593 | 630 | 650 | 672 | 728 | 790 | 822 | 839 |
| Fixed Assets | 86.16 | 85.12 | 405 | 406 | 411 | 413 | 416 | 416 | 415 | 426 | 425 | 421 |
| CWIP | 0.99 | 0.99 | 1.99 | 6.97 | 3.99 | 6.98 | 5.98 | 2.99 | 2.99 | 2.99 | 1.99 | 3.98 |
| Investments | 31.99 | 31.98 | 45.95 | 77.91 | 80.91 | 88.90 | 93.97 | 113 | 46.98 | 194 | 203 | 247 |
| Other Assets | 50.87 | 57.86 | 60.80 | 70.80 | 95.76 | 122 | 135 | 141 | 264 | 166 | 194 | 167 |
| Inventories | 23.02 | 27.01 | 32.99 | 44.04 | 49.04 | 80.07 | 75.99 | 75.01 | 96.04 | 115 | 135 | 117 |
| Trade receivables | 6.98 | 9.97 | 6.98 | 7.98 | 6.98 | 3.99 | 0.00 | 5.98 | 2.99 | 3.99 | 5.99 | 6.99 |
| Cash & equivalents | 6.01 | 5.01 | 6.01 | 4.01 | 24.01 | 22.99 | 41.01 | 39.02 | 144 | 25.03 | 30.01 | 12.01 |
| Total Assets | 170 | 176 | 514 | 563 | 593 | 630 | 650 | 672 | 728 | 790 | 822 | 839 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 15.05 | 12.04 | 39.16 | 36.11 | 31.11 | 18.06 | 29.13 | 19.07 | 47.22 | 26.11 | 15.06 | 29.13 |
| Cash from investing activity | 0.00 | −2.99 | −34.94 | −30.94 | −27.93 | −3.99 | −24.93 | −12.98 | −40.92 | −8.98 | 3.99 | −35.91 |
| Cash from financing activity | −9.96 | −9.96 | −2.99 | −6.98 | −4.98 | −7.98 | −4.98 | −4.98 | −5.98 | −8.97 | −7.98 | −6.98 |
| Net cash flow | 5.01 | −1.01 | 1.01 | −2.01 | −2.01 | 5.01 | −2.01 | 0.00 | −1.01 | 7.01 | 12.01 | −13.01 |
| Capex | 1.01 | 4.01 | 4.01 | 5.02 | 6.02 | 9.02 | 6.02 | 2.01 | 5.01 | 11.02 | 4.01 | 9.03 |
| Free cash flow | 13.99 | 9.01 | 34.98 | 31.01 | 24.99 | 7.99 | 21.99 | 17.01 | 42.01 | 14.99 | 11.01 | 20.99 |
| CFO / OP % | 100.1% | 47.1% | 74.1% | 68.1% | 85.1% | 55.1% | 161.1% | 89.1% | 83.1% | 84.1% | 71.1% | 212.1% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 10 | 15 | 9 | 9 | 8 | 5 | 2 | 8 | 3 | 4 | 6 | 7 |
| Inventory days | 70 | 90 | 113 | 144 | 131 | 224 | 294 | 189 | 179 | 219 | 225 | 198 |
| Days payable | 212 | 206 | 149 | 137 | 106 | 125 | 113 | 74 | 58 | 47 | 36 | 35 |
| Cash conversion cycle | −133 | −102 | −27 | 16 | 33 | 104 | 182 | 122 | 124 | 176 | 194 | 170 |
| Working capital days | −83 | −53 | −20 | −3 | 12 | 39 | 41 | 42 | 43 | 62 | 80 | 284 |
| ROCE % | 19.1% | 36.0% | 32.0% | 19.0% | 12.1% | 10.0% | 5.0% | 9.1% | 17.1% | 13.0% | 8.0% | 5.0% |
For the Mar 2026 quarter, Star Paper Mills reported sales of ₹113 Cr, down 1.3% year on year and net profit of −₹1.30 Cr, down 125.9% year on year. The operating margin was 4.0%.
Star Paper Mills' sales for the year to Mar 2026 were ₹411 Cr; over the last twelve months they were ₹411 Cr.
Net profit for the year to Mar 2026 was ₹33.02 Cr, and ₹32.81 Cr over the last twelve months. Earnings per share over the same trailing period were ₹21.03.
Star Paper Mills reported borrowings of ₹4 Cr at Mar 2026, against cash and equivalents of ₹12.01 Cr.
Cash from operations was ₹29.13 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹20.99 Cr.