STARPAPER
Star Paper Mills financials
- Market cap
- ₹262 Cr
- Sector
- Forest Materials
Quarterly results
Q1 FY27: revenue up 2.0%, net profit down 15.4% 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 | 111 | 97 | 114 | 101 | 104 −6% | 92 −5% | 113 −1% | 103 +2% |
| EBITDA | 9 | 8 | 10 | 6 | 7 −22% | 1 −87% | 4 −60% | 3 −50% |
| Net profit | 15 | 8 | 5 | 13 | 13 −13% | 8 +0% | -1 −120% | 11 −15% |
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 −3.9% 1Y
1Y: ₹175.25 on 10 Sept 2025 → ₹168.44. High ₹178.88 (17 Sept 2025), low ₹120.49 (30 Mar 2026).
Financials, as filed
Revenue fell 5.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to 4.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹492 Cr | ₹445 Cr | ₹436 Cr | ₹410 Cr |
| Operating profit | ₹80 Cr | ₹57 Cr | ₹37 Cr | ₹18 Cr |
| Operating margin | 16.2% | 12.8% | 8.5% | 4.4% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹5 Cr | ₹4 Cr | ₹5 Cr | ₹8 Cr |
| Net profit | ₹65 Cr | ₹64 Cr | ₹42 Cr | ₹33 Cr |
| Net margin | 13.2% | 14.4% | 9.6% | 8.0% |
| Cash from operations | ₹47 Cr | ₹26 Cr | ₹15 Cr | ₹29 Cr |
| Free cash flow | ₹42 Cr | ₹15 Cr | ₹11 Cr | ₹21 Cr |
| ROCE | 17.0% | 13.0% | 8.0% | 4.0% |
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 | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr |
| Reserves | ₹486 Cr | ₹519 Cr | ₹579 Cr | ₹632 Cr | ₹686 Cr | ₹693 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹5 Cr | ₹4 Cr | ₹4 Cr |
| Other liabilities | ₹147 Cr | ₹136 Cr | ₹134 Cr | ₹137 Cr | ₹140 Cr | ₹125 Cr |
| Total liabilities | ₹650 Cr | ₹672 Cr | ₹728 Cr | ₹790 Cr | ₹846 Cr | ₹838 Cr |
| Fixed assets | ₹415 Cr | ₹415 Cr | ₹414 Cr | ₹425 Cr | ₹423 Cr | ₹420 Cr |
| Capital work in progress | ₹6 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr |
| Investments | ₹94 Cr | ₹113 Cr | ₹47 Cr | ₹194 Cr | ₹239 Cr | ₹247 Cr |
| Other assets | ₹135 Cr | ₹141 Cr | ₹265 Cr | ₹167 Cr | ₹182 Cr | ₹167 Cr |
| Total assets | ₹650 Cr | ₹672 Cr | ₹728 Cr | ₹790 Cr | ₹846 Cr | ₹838 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 6% to 16,183.
- Promoters
- 44.9%
- FIIs
- 1.6%
- DIIs
- 0.0%
- Public
- 53.4%
Since Jun 2025
- Public +0.08 pp
- FIIs −0.07 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 44.9%, FIIs 1.8%, Public 53.2%.Dec '23: Promoters 44.9%, FIIs 1.7%, Public 53.4%.Mar '24: Promoters 44.9%, FIIs 1.7%, Public 53.4%.Jun '24: Promoters 44.9%, FIIs 1.7%, Public 53.4%.Sep '24: Promoters 44.9%, FIIs 1.8%, Public 53.3%.Dec '24: Promoters 44.9%, FIIs 1.7%, Public 53.4%.Mar '25: Promoters 44.9%, FIIs 1.7%, Public 53.4%.Jun '25: Promoters 44.9%, FIIs 1.7%, DIIs 0.0%, Public 53.4%.Sep '25: Promoters 44.9%, FIIs 1.7%, DIIs 0.0%, Public 53.4%.Dec '25: Promoters 44.9%, FIIs 1.7%, DIIs 0.0%, Public 53.4%.Mar '26: Promoters 44.9%, FIIs 1.7%, DIIs 0.0%, Public 53.4%.Jun '26: Promoters 44.9%, FIIs 1.6%, DIIs 0.0%, Public 53.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Muktilal Ganulal Paldiwal +0.33 pp 2.35% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Star Paper Mills Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Isg Traders Limited | 31.59% | unchanged |
| Albert Trading Company Private Limited | 5.80% | unchanged |
| Anushree Himanshubhai Shah | 5.54% | unchanged |
| Lok Prakashan Ltd | 5.46% | unchanged |
| Silent Valley Investments Limited | 3.98% | unchanged |
| Continuous Forms (Calcutta) Ltd | 3.27% | unchanged |
| Muktilal Ganulal Paldiwal | 2.35% | +0.33 pp |
| Acadian Emerging Markets Micro-Cap Equity Master F Global fund house | 1.64% | unchanged |
| Abhay Krishi Udyog Private Limited | 1.52% | unchanged |
| Raviraj Developers Limited | 1.49% | unchanged |
| Taradevi Muktilal Paldiwal | 1.48% | unchanged |
| Anil Kumar Goel | 1.15% | 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 Star Paper Mills Limited
Guides on how to read this kind of business and the numbers that matter.