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Consolidated Standalone

Shree Ajit Pulp

₹250.9 0.5 | 0.2%

Market Cap ₹223 Cr.

Stock P/E 27

P/B 0.9

Current Price ₹250.9

Book Value ₹ 286.7

Face Value 10

52W High ₹270

Dividend Yield 0%

52W Low ₹ 0

Edit Ratio

Shree Ajit Pulp Research see more...

Overview Inc. Year: 1995Industry: Paper & Paper Products

Shree Ajit Pulp & Paper Limited is a paper company that manufactures recycled machine glazed Kraft paper. The company offers its products to manufacturers of corrugated boxes, liners, and tubes. They are one of the pioneer wheat flour mills of South India and has a wind power generation unit. The company was incorporated in 1993 by Shri Ajitbhai Patel and Shri Pratik Patel, who are also the promoters and directors of the company. They have their registered office in Surat, India, and has a modern and eco-friendly manufacturing facility in Vapi, Gujarat. It produces high-quality Kraft paper with a range of GSM, BF, and moisture. The company also has a 2.1 MW wind power generation unit in Kutch, Gujarat, that supplies green energy to the company and the grid. The company has a large and diversified customer base, such as ITC, Tetra Pak, Essel Propack, and Uflex.

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Shree Ajit Pulp Share Price

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Peer Comparison

Shree Ajit Pulp Quarterly Results

#(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 76 76 68 43 107 118 111 121 155 177
Other Income -0 1 0 -0 6 0 0 0 2 0
Total Income 76 77 68 43 113 118 112 121 157 177
Total Expenditure 71 70 63 38 102 107 101 108 137 154
Operating Profit 5 6 5 5 11 11 10 13 19 23
Interest 1 1 1 1 5 5 5 6 8 8
Depreciation 2 2 2 2 4 4 4 4 5 5
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 2 4 2 2 3 3 2 3 7 10
Provision for Tax 1 1 1 1 0 1 0 1 2 3
Profit After Tax 1 3 1 1 3 2 1 2 5 7
Adjustments -1 0 0 0 -0 0 0 0 0 -0
Profit After Adjustments 0 3 1 2 3 2 1 2 5 7
Adjusted Earnings Per Share 0.5 3.4 1.4 2 3.8 2.9 1.5 2.1 5.1 7.9

Shree Ajit Pulp Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 205 203 237 209 249 270 240 267 418 372 295 564
Other Income 0 0 0 0 0 0 1 1 1 0 7 2
Total Income 205 203 237 209 250 270 241 267 419 372 301 567
Total Expenditure 179 183 209 190 225 225 206 221 372 343 274 500
Operating Profit 26 20 28 19 25 45 35 46 47 30 27 65
Interest 4 5 5 4 6 5 4 4 5 6 7 27
Depreciation 5 5 5 5 6 7 8 8 7 7 9 18
Exceptional Income / Expenses 0 0 0 0 -1 0 0 0 0 0 0 0
Profit Before Tax 18 10 18 9 12 33 23 34 32 25 11 22
Provision for Tax 6 3 6 3 4 10 3 10 10 5 3 6
Profit After Tax 12 7 12 6 8 23 20 24 22 21 8 15
Adjustments 0 0 0 0 -1 1 0 0 0 0 0 0
Profit After Adjustments 12 7 12 6 8 24 20 24 22 21 8 15
Adjusted Earnings Per Share 14.8 9 14.9 8.1 9.7 30.3 25.2 30.3 27.3 26.1 11 16.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -21% 3% 2% 4%
Operating Profit CAGR -10% -16% -10% 0%
PAT CAGR -62% -31% -19% -4%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 17% 8% 18% 12%
ROE Average 4% 9% 11% 12%
ROCE Average 5% 11% 14% 15%

Shree Ajit Pulp Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 69 75 87 93 100 124 143 167 188 208 227
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 16 13 13 15 21 20 21 12 6 139 163
Other Non-Current Liabilities 16 19 22 21 22 31 19 27 37 47 56
Total Current Liabilities 47 46 44 49 50 36 32 56 78 67 105
Total Liabilities 148 154 166 178 194 211 215 262 309 461 551
Fixed Assets 89 91 91 89 111 127 134 129 128 140 294
Other Non-Current Assets 8 11 10 28 15 26 13 19 37 200 126
Total Current Assets 51 52 66 62 67 59 68 114 143 121 131
Total Assets 148 154 166 178 194 211 215 262 309 461 551

Shree Ajit Pulp Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 1 1 0 0 0 0 0 8 24 17 2
Cash Flow from Operating Activities 14 16 17 14 18 45 32 25 -7 21 19
Cash Flow from Investing Activities -16 -9 -4 -27 -18 -24 -14 0 -15 -146 -87
Cash Flow from Financing Activities 2 -8 -13 13 1 -21 -10 -10 16 110 66
Net Cash Inflow / Outflow -0 -1 -0 -0 -0 0 8 15 -7 -15 -2
Closing Cash & Cash Equivalent 1 0 0 0 0 0 8 24 17 2 0

Shree Ajit Pulp Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 14.82 8.98 14.88 8.13 9.69 30.25 25.16 30.3 27.3 26.14 11
CEPS(Rs) 20.76 15.65 21.75 14.95 18.61 38.08 34.39 39.77 36.55 35.23 23.16
DPS(Rs) 0.5 0.5 0.75 0.75 0.75 0.75 0.75 1 1 0.68 0
Book NAV/Share(Rs) 86.67 94.97 109.24 117.38 126.49 156.13 180.64 210.39 237.05 262.56 303.03
Core EBITDA Margin(%) 11.84 9.23 11.12 8.37 9.63 16.49 14.28 17.01 10.99 7.84 7.06
EBIT Margin(%) 9.73 6.85 9.01 5.97 6.95 14.02 11.46 14.16 8.65 8.54 6.35
Pre Tax Margin(%) 8.04 4.52 7.1 4.09 4.72 12.11 9.62 12.84 7.56 6.8 3.84
PAT Margin (%) 5.38 3.29 4.67 2.9 3.28 8.59 8.18 9 5.17 5.57 2.8
Cash Profit Margin (%) 7.54 5.74 6.83 5.34 5.83 11.18 11.33 11.81 6.92 7.5 5.9
ROA(%) 8.63 4.71 7.35 3.73 4.44 11.43 9.24 10.07 7.58 5.38 1.63
ROE(%) 18.66 9.88 14.57 7.16 8.57 20.69 14.75 15.5 12.2 10.46 3.79
ROCE(%) 20.85 13.03 19.34 10.33 12.19 24.36 16.55 20.72 17.04 10.4 4.5
Receivable days 42.07 45.1 47.42 58.85 52.17 48.81 49.48 51.93 42.91 47.92 58.91
Inventory Days 24.84 29.82 27.19 31.75 31.33 30.66 31.36 33.9 36.52 52.16 67.64
Payable days 29.67 33.3 35.85 45.08 36.27 38.84 45.49 46.42 32.12 34.62 60.87
PER(x) 2.05 6.03 4.34 16.58 12.01 4.87 4.03 5.38 8.39 6.72 17.06
Price/Book(x) 0.35 0.57 0.59 1.15 0.92 0.94 0.56 0.77 0.97 0.67 0.62
Dividend Yield(%) 0 0.63 0.79 0.38 0.44 0.34 0.5 0.41 0.3 0.39 0
EV/Net Sales(x) 0.23 0.41 0.35 0.72 0.57 0.56 0.42 0.48 0.5 0.82 1.24
EV/Core EBITDA(x) 1.8 4.1 2.94 8.03 5.75 3.36 2.87 2.79 4.45 10.31 13.3
Net Sales Growth(%) 17.59 -0.91 16.96 -12.05 19.46 8.2 -10.86 10.9 56.87 -11.09 -20.8
EBIT Growth(%) -10.35 -30.18 53.46 -41.71 32.71 115.13 -27.15 37.04 -4.18 -12.16 -41.16
PAT Growth(%) -16.79 -39.45 65.78 -45.44 28.76 179.67 -15.02 21.95 -9.89 -4.27 -60.15
EPS Growth(%) -16.79 -39.45 65.78 -45.38 19.17 212.36 -16.82 20.4 -9.89 -4.27 -57.91
Debt/Equity(x) 0.63 0.54 0.38 0.48 0.51 0.29 0.21 0.15 0.24 0.81 1
Current Ratio(x) 1.1 1.13 1.49 1.26 1.34 1.65 2.1 2.03 1.83 1.8 1.25
Quick Ratio(x) 0.78 0.69 1.1 0.83 0.9 1 1.54 1.47 1.16 1 0.72
Interest Cover(x) 5.77 2.93 4.71 3.18 3.11 7.34 6.25 10.75 7.96 4.89 2.53
Total Debt/Mcap(x) 0 0.95 0.64 0.41 0.55 0.31 0.38 0.19 0.25 1.22 1.35

Shree Ajit Pulp Shareholding Pattern

# Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 56.83 56.84 56.84 59.34 59.39 59.39 59.39 59.39 59.39 59.39
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 43.17 43.16 43.16 40.66 40.61 40.61 40.61 40.61 40.61 40.61
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.9 times its book value

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • Debtor days have increased from 34.62 to 60.87days.
  • The company has delivered a poor profit growth of -19% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Shree Ajit Pulp News

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