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Star Paper Mills Ltd.
(STARPAPER)
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Rating:66Neutral
Price Target:
₹161.00
▼(-1.26% Downside)
Action:Downgraded
Date:10/22/26
The score is driven primarily by strong financial stability (minimal leverage and a solid balance sheet) offset by weakening operating fundamentals (multi-year revenue declines and sharp FY2026 margin compression). Valuation is supportive due to a low P/E and modest dividend yield, while technical signals are mixed with near-term weakness despite longer-term support.
Positive Factors
Very low leverage
Extremely low leverage and a steadily growing equity base provide financial resilience and reduce reliance on borrowed capital. This supports the company’s ability to withstand operating volatility, fund necessary investment, and preserve flexibility for future capital allocation.
Negative Factors
Multi-year revenue decline
Three successive years of revenue contraction point to weakening top-line momentum and make it harder to achieve operating leverage. If the decline persists, lower production or sales volumes could constrain earnings growth and reduce the company’s ability to absorb fixed manufacturing costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Extremely low leverage and a steadily growing equity base provide financial resilience and reduce reliance on borrowed capital. This supports the company’s ability to withstand operating volatility, fund necessary investment, and preserve flexibility for future capital allocation.
Read all positive factors
Star Paper Mills Ltd. (STARPAPER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.22B
Dividend Yield1.76%
Average Volume (3M)644.00
Price to Earnings (P/E)7.1
Beta (1Y)1.19
Revenue Growth-2.69%
EPS Growth-22.72%
CountryIN
Employees371
SectorGeneral
Sector StrengthN/A
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)19.82
Shares Outstanding15,608,350
10 Day Avg. Volume977
30 Day Avg. Volume644
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)0.27
Price to Sales (P/S)0.46
P/FCF Ratio9.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Star Paper Mills Ltd. Business Overview & Revenue Model
Company Description
Star Paper Mills Limited manufactures and supplies paper, and paper boards and other related products in India and internationally. It provides a range of industrial packaging and cultural papers, as well as other grades to the consumers in variou...
How the Company Makes Money
STARPAPER primarily makes money by manufacturing paper and selling it to customers through business-to-business (B2B) channels. Key revenue is generated from (1) sale of writing and printing paper and other paper grades produced at its manufacturi...
Star Paper Mills Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
88
Very Positive
Cash Flow
64
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.12B | 4.10B | 4.36B | 4.44B | 4.93B | 3.31B |
| Gross Profit | 1.11B | 878.97M | 2.17B | 2.38B | 1.07B | 515.05M |
| EBITDA | 149.77M | 184.87M | 607.97M | 871.83M | 891.78M | 500.32M |
| Net Income | 309.49M | 327.53M | 411.46M | 640.03M | 656.73M | 366.48M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 8.38B | 8.23B | 7.90B | 7.28B | 6.72B |
| Cash, Cash Equivalents and Short-Term Investments | 2.44B | 2.44B | 2.19B | 1.88B | 1.68B | 987.16M |
| Total Debt | 0.00 | 43.06M | 46.68M | 50.05M | 1.36M | 6.72M |
| Total Liabilities | -7.08B | 1.29B | 1.42B | 1.42B | 1.34B | 1.37B |
| Stockholders Equity | 7.08B | 7.08B | 6.81B | 6.47B | 5.94B | 5.35B |
Cash Flow | ||||||
| Free Cash Flow | 215.16M | 209.02M | 110.57M | 146.45M | 420.19M | 163.47M |
| Operating Cash Flow | 247.10M | 295.72M | 148.39M | 258.38M | 467.66M | 186.72M |
| Investing Cash Flow | -264.66M | -367.32M | 44.83M | -94.84M | -411.24M | -134.56M |
| Financing Cash Flow | -4.03M | -61.50M | -75.39M | -89.58M | -65.03M | -48.92M |
Star Paper Mills Ltd. Technical Analysis
Negative
163.05
Price Trends
152.44
Negative
146.71
Negative
143.13
Negative
Market Momentum
-2.90
Positive
38.41
Neutral
1.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:STARPAPER, the sentiment is Negative. The current price of 163.05 is above the 20-day moving average (MA) of 152.05, above the 50-day MA of 152.44, and above the 200-day MA of 143.13, indicating a bearish trend. The MACD of -2.90 indicates Positive momentum. The RSI at 38.41 is Neutral, neither overbought nor oversold. The STOCH value of 1.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:STARPAPER.
Star Paper Mills Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹8.29B | 9.08 | ― | 0.69% | 1.45% | -12.79% | |
66 Neutral | ₹2.22B | 7.14 | ― | 1.76% | -2.69% | -22.72% | |
64 Neutral | ₹53.82B | 23.45 | ― | 0.98% | 8.20% | -8.74% | |
61 Neutral | ₹12.75B | 10.26 | ― | 1.00% | 18.52% | 45.83% | |
60 Neutral | ₹7.11B | 7.78 | ― | 2.75% | 6.56% | 379.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹67.03B | 20.25 | ― | 1.08% | 10.27% | -11.88% |
* General Sector Average
IN:STARPAPER
Star Paper Mills Ltd.
142.00
-20.68
-12.71%
IN:EMAMIPAP
Emami Paper Mills Limited
117.55
22.56
23.75%
IN:JKPAPER
JK Paper Limited
369.70
-23.82
-6.05%
IN:PDMJEPAPER
Pudumjee Paper Products Ltd.
87.32
-27.96
-24.26%
IN:SESHAPAPER
Seshasayee Paper & Boards Ltd.
202.15
-57.47
-22.14%
IN:WSTCSTPAPR
West Coast Paper Mills Limited
814.85
363.12
80.39%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.