Market Cap ₹64 Cr.
Stock P/E -5.3
P/B -5.4
Current Price ₹37.5
Book Value ₹ -7
Face Value 10
52W High ₹54.1
Dividend Yield 0%
52W Low ₹ 30
Malu Paper Mills Ltd. (MPML) is a leading name in Central India’s paper manufacturing industry, known for its eco-friendly approach and commitment to quality. Established in 1996 by the first-generation entrepreneurs from the Malu family, company has grown to become a significant player in the production of recycled paper-based Kraft, Newsprint, and Writing Printing paper. Company’s manufacturing prowess is showcased in three plants spread over 140 acres near Nagpur, Maharashtra. These plants boast a combined production capacity of 90,000 TPA of Kraft Paper and 50,000 TPA of Newsprint and Writing Printing Paper. Technical Expertise and state-of-the-art equipment have been pivotal to produce a range of diversified products. MPML’s clientele is global with exports of Kraft paper and Newsprint to various countries in Europe, Asia, Africa, China, Central, and South America.
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PE falls below X
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| #(Fig in Cr.) | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 58 | 70 | 68 | 62 | 75 | 58 | 65 | 63 | 93 | 94 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 58 | 70 | 68 | 62 | 75 | 58 | 65 | 63 | 93 | 94 |
| Total Expenditure | 56 | 66 | 64 | 57 | 71 | 57 | 66 | 64 | 93 | 99 |
| Operating Profit | 2 | 4 | 4 | 4 | 5 | 1 | -1 | -1 | 1 | -5 |
| Interest | 2 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | 4 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | 0 | 0 | 0 | 0 | -3 | -5 | -5 | -4 | -9 |
| Provision for Tax | -0 | 0 | 0 | 0 | 0 | -1 | -1 | -1 | -1 | -3 |
| Profit After Tax | -1 | 0 | 0 | 0 | 0 | -2 | -4 | -4 | -3 | -6 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 |
| Profit After Adjustments | -1 | 0 | 0 | 0 | 0 | -2 | -4 | -4 | -3 | -6 |
| Adjusted Earnings Per Share | -0.6 | 0.2 | 0.1 | 0.2 | 0.1 | -1.2 | -2.2 | -2.2 | -1.7 | -3.6 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 231 | 228 | 243 | 279 | 274 | 226 | 170 | 212 | 234 | 274 | 278 | 315 |
| Other Income | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Total Income | 231 | 230 | 244 | 280 | 276 | 227 | 171 | 213 | 235 | 275 | 278 | 315 |
| Total Expenditure | 208 | 207 | 220 | 261 | 251 | 213 | 164 | 208 | 235 | 258 | 279 | 322 |
| Operating Profit | 23 | 23 | 23 | 19 | 25 | 14 | 7 | 5 | -0 | 17 | -0 | -6 |
| Interest | 16 | 16 | 15 | 12 | 10 | 8 | 8 | 8 | 9 | 11 | 11 | 13 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 3 | 3 | 4 | 2 | 10 | 1 | -6 | -8 | -14 | 1 | -17 | -23 |
| Provision for Tax | 1 | 1 | 1 | 1 | 3 | 0 | -0 | -2 | -4 | 1 | -5 | -6 |
| Profit After Tax | 2 | 2 | 3 | 1 | 7 | 1 | -6 | -6 | -10 | 1 | -12 | -17 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | 2 | 3 | 1 | 7 | 1 | -6 | -6 | -10 | 1 | -12 | -17 |
| Adjusted Earnings Per Share | 1.1 | 1.1 | 1.7 | 0.9 | 4.4 | 0.4 | -3.4 | -3.7 | -6.1 | 0.5 | -7.1 | -9.7 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 1% | 9% | 4% | 2% |
| Operating Profit CAGR | -100% | -100% | -100% | -100% |
| PAT CAGR | -1300% | 0% | NAN% | NAN% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -19% | 2% | 9% | 14% |
| ROE Average | -2254% | -776% | -476% | -209% |
| ROCE Average | -4% | 0% | 0% | 7% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 13 | 15 | 24 | 25 | 31 | 31 | 24 | 17 | 6 | 7 | -6 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 81 | 78 | 42 | 27 | 13 | 8 | 7 | 6 | 13 | 12 | 8 |
| Other Non-Current Liabilities | 5 | 6 | -9 | -8 | -5 | -5 | -5 | -7 | -10 | -9 | -14 |
| Total Current Liabilities | 47 | 47 | 85 | 107 | 96 | 101 | 119 | 132 | 130 | 147 | 168 |
| Total Liabilities | 146 | 145 | 142 | 151 | 135 | 135 | 145 | 148 | 140 | 157 | 157 |
| Fixed Assets | 92 | 89 | 84 | 80 | 79 | 80 | 76 | 71 | 68 | 65 | 67 |
| Other Non-Current Assets | 7 | 6 | 5 | 2 | 2 | 1 | 1 | 1 | 1 | 6 | 1 |
| Total Current Assets | 47 | 50 | 53 | 68 | 54 | 54 | 68 | 76 | 72 | 86 | 89 |
| Total Assets | 146 | 145 | 142 | 151 | 135 | 135 | 145 | 148 | 140 | 157 | 157 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 1 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 19 | 20 | 20 | 19 | 19 | 15 | 4 | -2 | -9 | 9 | 4 |
| Cash Flow from Investing Activities | -3 | -2 | 1 | 3 | -4 | -4 | -1 | 0 | -1 | -8 | -3 |
| Cash Flow from Financing Activities | -16 | -19 | -22 | -22 | -16 | -11 | -2 | 2 | 11 | -2 | -1 |
| Net Cash Inflow / Outflow | 0 | 0 | -0 | -0 | -1 | 1 | -0 | 0 | -0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 2 | 2 | 2 | 2 | 1 | 2 | 1 | 2 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.1 | 1.14 | 1.69 | 0.86 | 4.35 | 0.39 | -3.38 | -3.67 | -6.13 | 0.52 | -7.11 |
| CEPS(Rs) | 3.8 | 3.9 | 4.51 | 3.67 | 7.15 | 3.26 | -0.44 | -0.7 | -3.18 | 3.46 | -3.99 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 7.53 | 8.67 | 14.13 | 14.39 | 18.18 | 18.04 | 14.11 | 10.11 | 3.73 | 3.98 | -3.35 |
| Core EBITDA Margin(%) | 9.54 | 8.91 | 8.58 | 5.89 | 8.56 | 5.67 | 3.38 | 1.7 | -0.41 | 6.11 | -0.33 |
| EBIT Margin(%) | 7.71 | 7.87 | 7.22 | 4.68 | 7.21 | 3.99 | 0.98 | -0.18 | -2.28 | 4.51 | -2.05 |
| Pre Tax Margin(%) | 1.15 | 1.21 | 1.62 | 0.71 | 3.67 | 0.48 | -3.6 | -3.91 | -5.98 | 0.54 | -6.16 |
| PAT Margin (%) | 0.79 | 0.83 | 1.12 | 0.48 | 2.7 | 0.29 | -3.4 | -2.96 | -4.47 | 0.33 | -4.37 |
| Cash Profit Margin (%) | 2.73 | 2.83 | 2.97 | 2.07 | 4.44 | 2.46 | -0.45 | -0.56 | -2.32 | 2.15 | -2.45 |
| ROA(%) | 1.31 | 1.34 | 2.01 | 1 | 5.2 | 0.49 | -4.12 | -4.28 | -7.27 | 0.6 | -7.74 |
| ROE(%) | 15.73 | 14.13 | 14.86 | 6 | 26.71 | 2.14 | -21.04 | -30.32 | -88.56 | 13.61 | -2254.33 |
| ROCE(%) | 14.91 | 14.94 | 14.53 | 10.93 | 16.14 | 7.57 | 1.41 | -0.32 | -4.25 | 9.24 | -4.11 |
| Receivable days | 32.43 | 34.29 | 32.67 | 30.95 | 34.42 | 40.21 | 62.9 | 53.42 | 40.66 | 35.46 | 42.82 |
| Inventory Days | 24.37 | 28.62 | 28.93 | 32.74 | 38.61 | 39.03 | 53.67 | 60.41 | 64.76 | 61.02 | 64.06 |
| Payable days | 42.84 | 44.04 | 40.15 | 49.01 | 59.4 | 56.19 | 94.16 | 78.31 | 58.86 | 50.09 | 51.76 |
| PER(x) | 11.53 | 8.68 | 19.27 | 35.06 | 5.98 | 57.77 | 0 | 0 | 0 | 69.49 | 0 |
| Price/Book(x) | 1.68 | 1.15 | 2.31 | 2.08 | 1.43 | 1.24 | 1.86 | 3.44 | 7.56 | 9.15 | -10.26 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.57 | 0.54 | 0.67 | 0.54 | 0.48 | 0.55 | 0.81 | 0.76 | 0.72 | 0.7 | 0.72 |
| EV/Core EBITDA(x) | 5.72 | 5.34 | 6.97 | 7.93 | 5.39 | 8.92 | 20.45 | 34.45 | -570.85 | 11.04 | -526.97 |
| Net Sales Growth(%) | 6 | -1.33 | 6.54 | 15.04 | -1.68 | -17.54 | -25 | 24.85 | 10.37 | 17.34 | 1.26 |
| EBIT Growth(%) | 4.93 | 0.98 | 1.07 | -24.2 | 39.74 | -54.4 | -81.54 | -122.96 | -1291.24 | 332.4 | -146.16 |
| PAT Growth(%) | 33.92 | 4.29 | 47.97 | -49.49 | 408.36 | -91.1 | -974.23 | -8.52 | -66.93 | 108.56 | -1455.04 |
| EPS Growth(%) | 33.93 | 4.29 | 47.97 | -49.49 | 408.36 | -91.11 | -974.33 | -8.51 | -66.94 | 108.56 | -1455.09 |
| Debt/Equity(x) | 8.66 | 7.34 | 4.55 | 4.11 | 2.86 | 2.85 | 3.88 | 6.01 | 19.32 | 19.37 | -25.38 |
| Current Ratio(x) | 1.01 | 1.06 | 0.62 | 0.64 | 0.56 | 0.54 | 0.57 | 0.58 | 0.55 | 0.59 | 0.53 |
| Quick Ratio(x) | 0.61 | 0.67 | 0.35 | 0.34 | 0.28 | 0.32 | 0.34 | 0.26 | 0.23 | 0.24 | 0.25 |
| Interest Cover(x) | 1.18 | 1.18 | 1.29 | 1.18 | 2.04 | 1.14 | 0.21 | -0.05 | -0.61 | 1.14 | -0.5 |
| Total Debt/Mcap(x) | 5.15 | 6.41 | 1.97 | 1.97 | 2 | 2.3 | 2.08 | 1.75 | 2.56 | 2.12 | 2.47 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 69.95 | 69.95 | 69.95 | 69.95 | 69.95 | 69.8 | 69.8 | 69.8 | 69.8 | 69.8 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 30.05 | 30.05 | 30.05 | 30.05 | 30.05 | 30.2 | 30.2 | 30.2 | 30.2 | 30.2 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 | 1.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.51 | 0.51 | 0.51 | 0.51 | 0.51 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 |
Pros
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | Listing Price | Listing Gain(%) | Current Price | Return (%) | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | Listing Price | Listing Gain(%) | Current Price | Return (%) | Type | Exchange |
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