KUANTUM
Kuantum Papers financials
- Market cap
- ₹696 Cr
- Sector
- Forest Materials
- Calls analysed
- 7
Kuantum Papers Limited Q1 FY27
What went well
- Operational income grew 36% YoY to INR304 crores, supported by healthy demand.
- Paper sales volume increased 35% YoY to 42,922 metric tons.
- Net sales realization (NSR) improved by INR3,400/ton QoQ and INR4,000/ton YoY.
What to watch
- Cost of around INR4,200 per ton increased QoQ, offsetting NSR gains, driven by West Asia conflict and local raw material prices.
- EBITDA margin compressed to 13.2% (though stable YoY in absolute terms) due to cost pressures.
What Kuantum Papers Limited does
Kuantum Papers runs a fully backward-integrated paper mill in Saila Khurd, Hoshiarpur (Punjab), that pulps agro residues (wheat straw, sarkanda, bagasse) and wood/bamboo along with imported pulp to feed four paper machines, a chemical recovery plant and a co-generation power plant. It makes writing & printing, copier and specialty papers (maplitho, cream wove, thermal, bond, parchment, azure laid, cartridge, coloured, ledger and cup/straw base papers) sold on an order-based system through a 100+ dealer network across India and exported to 24 countries, with clients including Macmillan Education India, McGraw Hill Education India, Oxford University Press and Pearson India.
Segments
- Writing & Printing Paper
- Copier Paper
- Specialty Paper
- Manufacturing facility footprint
- 259 acres, single fully-integrated site (Saila Khurd, Punjab)
- Paper machines
- 4 machines, total operating capacity 540 TPD
- Pulping capacity
- 365 TPD (Agro-based 165 TPD + Wood 200 TPD)
- Chemical Recovery Plant capacity
- 700 Solids TPD across 2 recovery boilers
- Co-Gen Power Plant
- 38 MW installed turbine capacity; boilers 190 TPH
- Dealer network
- 100+ dealers across India
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 4 delivered 2 missed 13 open- EBITDA Margin delivered said Q3 FY25 Promised: Maintain above 20% for the entire year of '24-'25 Q1 FY27: Closed promise.
- FY26 EBITDA Margin missed said Q2 FY26 Promised: Keep it above 15% this year overall Q1 FY27: Closed promise.
- Mill Expansion Project Completion delayed said Q3 FY25 Promised: Fully commissioned by March 2026 Q1 FY27: PM3 rebuild, a major part of the capex, is now expected to be commissioned in August 2026, missing the mid-June target.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 36.3%, net profit down 48.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 279 | 270 | 277 | 223 | 280 +0% | 290 +7% | 301 +9% | 304 +36% |
| EBITDA | 61 | 50 | 60 | 40 | 34 −43% | 39 −22% | 48 −20% | 40 −1% |
| Net profit | 30 | 21 | 26 | 12 | 6 −81% | 10 −53% | 14 −45% | 6 −48% |
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 −31.4% 1Y
1Y: ₹111.42 on 10 Sept 2025 → ₹76.43. High ₹114.6 (25 Sept 2025), low ₹65.9 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.0%
- 14 Aug
- Q4 FY26
- −2.1%
- 29 May
- Q3 FY26
- +2.3%
- 9 Feb
- Q2 FY26
- +1.1%
- 10 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 5.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 14.8%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.3k Cr | ₹1.2k Cr | ₹1.1k Cr | ₹1.1k Cr |
| Operating profit | ₹379 Cr | ₹333 Cr | ₹243 Cr | ₹162 Cr |
| Operating margin | 29.0% | 27.5% | 21.9% | 14.8% |
| Interest | ₹71 Cr | ₹43 Cr | ₹39 Cr | ₹46 Cr |
| Depreciation | ₹46 Cr | ₹48 Cr | ₹54 Cr | ₹65 Cr |
| Net profit | ₹136 Cr | ₹184 Cr | ₹115 Cr | ₹42 Cr |
| Net margin | 10.4% | 15.2% | 10.4% | 3.8% |
| Cash from operations | ₹375 Cr | ₹298 Cr | ₹177 Cr | ₹219 Cr |
| Free cash flow | ₹312 Cr | ₹131 Cr | ₹-134 Cr | ₹-107 Cr |
| ROCE | 22.0% | 20.0% | 11.0% | 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 | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr | ₹9 Cr |
| Reserves | ₹809 Cr | ₹822 Cr | ₹958 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Borrowings | ₹689 Cr | ₹762 Cr | ₹513 Cr | ₹512 Cr | ₹678 Cr | ₹870 Cr |
| Other liabilities | ₹108 Cr | ₹83 Cr | ₹210 Cr | ₹251 Cr | ₹276 Cr | ₹301 Cr |
| Total liabilities | ₹1.6k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹1.9k Cr | ₹2.2k Cr | ₹2.4k Cr |
| Fixed assets | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.5k Cr | ₹1.7k Cr | ₹1.8k Cr |
| Capital work in progress | ₹21 Cr | ₹29 Cr | ₹31 Cr | ₹42 Cr | ₹150 Cr | ₹263 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Other assets | ₹158 Cr | ₹239 Cr | ₹245 Cr | ₹371 Cr | ₹266 Cr | ₹297 Cr |
| Total assets | ₹1.6k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹1.9k Cr | ₹2.2k Cr | ₹2.4k 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
The ownership split has held steady since Jun 2025. The shareholder count shrank 3% to 21,742.
- Promoters
- 70.3%
- FIIs
- 0.0%
- Public
- 29.6%
Since Jun 2025
- FIIs +0.04 pp
- Public −0.04 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window the public went from 28.6% to 29.6% — +1.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 70.3%, FIIs 1.0%, DIIs 0.0%, Public 28.6%.Dec '23: Promoters 70.3%, FIIs 0.5%, Public 29.2%.Mar '24: Promoters 70.3%, FIIs 0.2%, Public 29.5%.Jun '24: Promoters 70.3%, FIIs 0.1%, Public 29.6%.Sep '24: Promoters 70.3%, FIIs 0.1%, Public 29.6%.Dec '24: Promoters 70.3%, FIIs 0.1%, Public 29.5%.Mar '25: Promoters 70.3%, FIIs 0.1%, Public 29.6%.Jun '25: Promoters 70.3%, Public 29.7%.Sep '25: Promoters 70.3%, Public 29.7%.Dec '25: Promoters 70.3%, FIIs 0.0%, Public 29.7%.Mar '26: Promoters 70.3%, FIIs 0.1%, Public 29.6%.Jun '26: Promoters 70.3%, FIIs 0.0%, Public 29.6%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kuantum Papers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Kapedome Enterprises Limited | 66.51% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 2.27% | unchanged |
| Pavan Khaitan | 1.69% | unchanged |
| Jagesh Kumar Khaitan | 1.66% | unchanged |
| Aparna Khaitan | 0.30% | unchanged |
| Usha Khaitan | 0.15% | unchanged |
| J K Khaitan Huf | 0.00% | unchanged |
| Chittorh Tradecom Private Limited | — | off the list |
| Kapmead Trading Private Limited | — | off the list |
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.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Kuantum Papers Limited
Guides on how to read this kind of business and the numbers that matter.