544267
Subam Papers financials
- Market cap
- ₹558 Cr
- Sector
- Capital Goods
What Subam Papers does
Subam Papers manufactures Kraft Paper and Duplex Board using waste paper as raw material instead of wood pulp, supplying packaging-grade paper in various shades, GSM and sizes to industries such as automobiles, textiles, FMCG, food, distilleries, pharmaceuticals and electricals. It has expanded from its original paper-cone business into value-added packaging products — corrugated boxes, paper tubes and paper cores — made through subsidiaries and group LLPs. The company also runs captive wind and solar power generation to supply its manufacturing units, and a subsidiary provides logistics and warehousing services for raw-material collection and finished-goods dispatch.
Segments
- Paper manufacturing (Kraft Paper, Duplex Board)
- Packaging products (corrugated boxes, paper cones, tubes, cores)
- Captive renewable power (wind + solar)
- Logistics and warehousing
- Consolidated paper production capacity
- Targeted to exceed 1,000 tonnes/day after ongoing expansion (by Q4 FY26)
- Paper machine capacity expansion plan
- PM-1 (Duplex Board) to 150 MTPD; PM-2 (Kraft Paper) to 400 TPD; PM-3 (multi-grade paper) to 350 TPD; cone board machine to 100 TPD
- Captive solar power capacity
- 14 MW
- Captive wind power capacity
- ~1.7 MW (two windmills of 850 KW each)
- Co-generation power plant (proposed, subsidiary)
- 9.5 MW
- Product specification range
- GSM 120–300; Bursting Factor 16–35; Deckle 2,000–4,400 mm; reel diameter up to 1,400 mm
Quarterly results
Q1 FY27: revenue up 13.3%, net profit up 68.2% against the same quarter last year.
| Line item | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 270 | 110 | 123 | 126 | 119 −56% | 124 +13% | 139 +13% |
| EBITDA | 39 | 10 | 10 | 8 | 7 −82% | 1 −88% | 15 +48% |
| Net profit | 18 | 3 | 4 | 5 | 1 −94% | -3 −178% | 8 +68% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +53.5% 1Y
1Y: ₹132.25 on 10 Sept 2025 → ₹203. High ₹239.45 (11 May 2026), low ₹131.6 (11 Sept 2025).
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹493 Cr |
| Operating profit | ₹26 Cr |
| Operating margin | 5.3% |
| Interest | ₹12 Cr |
| Depreciation | ₹12 Cr |
| Net profit | ₹7 Cr |
| Net margin | 1.5% |
| Cash from operations | ₹32 Cr |
| Free cash flow | ₹21 Cr |
| ROCE | 5.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹23 Cr | ₹27 Cr |
| Reserves | ₹133 Cr | ₹160 Cr | ₹162 Cr | ₹191 Cr | ₹310 Cr | ₹366 Cr |
| Borrowings | ₹11 Cr | ₹115 Cr | ₹103 Cr | ₹123 Cr | ₹227 Cr | ₹65 Cr |
| Other liabilities | ₹43 Cr | ₹61 Cr | ₹62 Cr | ₹54 Cr | ₹103 Cr | ₹107 Cr |
| Total liabilities | ₹188 Cr | ₹337 Cr | ₹329 Cr | ₹370 Cr | ₹662 Cr | ₹565 Cr |
| Fixed assets | ₹31 Cr | ₹123 Cr | ₹135 Cr | ₹144 Cr | ₹256 Cr | ₹160 Cr |
| Capital work in progress | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹20 Cr | ₹78 Cr | ₹1 Cr |
| Investments | ₹12 Cr | ₹16 Cr | ₹16 Cr | ₹15 Cr | ₹8 Cr | ₹145 Cr |
| Other assets | ₹142 Cr | ₹198 Cr | ₹178 Cr | ₹191 Cr | ₹321 Cr | ₹259 Cr |
| Total assets | ₹188 Cr | ₹337 Cr | ₹329 Cr | ₹370 Cr | ₹662 Cr | ₹565 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Mar 2025, the public added +11.55 pp while promoters trimmed −10.74 pp. The shareholder count shrank 25% to 1,446.
- Promoters
- 58.9%
- FIIs
- 0.2%
- DIIs
- 5.0%
- Public
- 35.9%
Since Mar 2025
- Public +11.55 pp
- Promoters −10.74 pp
- FIIs −2.12 pp
How it drifted, 6 quarters
Over this window the public went from 19.1% to 35.9% — +16.8 pp.
Ownership split by quarter, oldest first. Oct '24: Promoters 69.7%, FIIs 6.1%, DIIs 5.1%, Public 19.1%.Mar '25: Promoters 69.7%, FIIs 2.3%, DIIs 3.7%, Public 24.4%.Sep '25: Promoters 69.7%, FIIs 1.3%, DIIs 3.0%, Public 25.9%.Dec '25: Promoters 69.9%, FIIs 0.3%, DIIs 3.4%, Public 26.3%.Mar '26: Promoters 59.1%, FIIs 0.2%, DIIs 4.6%, Public 36.1%.Jun '26: Promoters 58.9%, FIIs 0.2%, DIIs 5.0%, Public 35.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Subam Papers above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Thirupathi Balakumar | 30.78% | −0.09 pp |
| Alagarsamy Sudha | 10.43% | unchanged |
| Madhuri Madhusudan Kela | 7.02% | unchanged |
| Bmm Paper Board Private Limited | 5.73% | unchanged |
| Venkadasamy Thirupathi | 3.64% | unchanged |
| Solaisamy Solaisamy Alagarsamy | 3.64% | unchanged |
| Ramasamy Premavathi | 3.57% | unchanged |
| Invicta Continuum Fund I AIF | 3.22% | unchanged |
| Jinendra Kumar Jain | 1.26% | −0.09 pp |
| Invicta Finserv | 1.09% | unchanged |
| Saradhambika Paper And Board Mills Private Limited | 1.00% | unchanged |
| Madhumitha Balakumar | 0.14% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Subam Papers
Guides on how to read this kind of business and the numbers that matter.