WEBSITE BSE:538795 NSE: SAPPL Inc. Year: 1995 Industry: Paper & Paper Products
Last updated: 11:23
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,...Read More
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. ...Read Less
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Market Cap ₹236 Cr.
Stock P/E 25
P/B 0.9
Current Price ₹265
Book Value ₹ 301.8
Face Value 10
52W High ₹294
Dividend Yield 0%
52W Low ₹ 0
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 68 | 43 | 107 | 118 | 111 | 121 | 155 | 177 | 172 | 177 |
| Other Income | 0 | -0 | 6 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
| Total Income | 68 | 43 | 113 | 118 | 112 | 121 | 157 | 177 | 173 | 177 |
| Total Expenditure | 63 | 38 | 102 | 107 | 101 | 108 | 137 | 154 | 152 | 154 |
| Operating Profit | 5 | 5 | 11 | 11 | 10 | 13 | 19 | 23 | 21 | 23 |
| Interest | 1 | 1 | 5 | 5 | 5 | 6 | 8 | 8 | 7 | 7 |
| Depreciation | 2 | 2 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 2 | 3 | 3 | 2 | 3 | 7 | 10 | 9 | 11 |
| Provision for Tax | 1 | 1 | 0 | 1 | 0 | 1 | 2 | 3 | 3 | 4 |
| Profit After Tax | 1 | 1 | 3 | 2 | 1 | 2 | 5 | 7 | 6 | 8 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | -0 |
| Profit After Adjustments | 1 | 2 | 3 | 2 | 1 | 2 | 5 | 7 | 6 | 8 |
| Adjusted Earnings Per Share | 1.4 | 2 | 3.8 | 2.9 | 1.5 | 2.1 | 5.1 | 7.9 | 6.6 | 8.5 |
| #(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 | 203 | 237 | 209 | 249 | 270 | 240 | 267 | 418 | 372 | 295 | 506 | 681 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 7 | 2 | 2 |
| Total Income | 203 | 237 | 209 | 250 | 270 | 241 | 267 | 419 | 372 | 301 | 508 | 684 |
| Total Expenditure | 183 | 209 | 190 | 225 | 225 | 206 | 221 | 372 | 343 | 274 | 455 | 597 |
| Operating Profit | 20 | 28 | 19 | 25 | 45 | 35 | 46 | 47 | 30 | 27 | 53 | 86 |
| Interest | 5 | 5 | 4 | 6 | 5 | 4 | 4 | 5 | 6 | 7 | 23 | 30 |
| Depreciation | 5 | 5 | 5 | 6 | 7 | 8 | 8 | 7 | 7 | 9 | 16 | 20 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 10 | 18 | 9 | 12 | 33 | 23 | 34 | 32 | 25 | 11 | 14 | 37 |
| Provision for Tax | 3 | 6 | 3 | 4 | 10 | 3 | 10 | 10 | 5 | 3 | 5 | 12 |
| Profit After Tax | 7 | 12 | 6 | 8 | 23 | 20 | 24 | 22 | 21 | 8 | 9 | 26 |
| Adjustments | 0 | 0 | 0 | -1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 7 | 12 | 6 | 8 | 24 | 20 | 24 | 22 | 21 | 8 | 9 | 26 |
| Adjusted Earnings Per Share | 9 | 14.9 | 8.1 | 9.7 | 30.3 | 25.2 | 30.3 | 27.3 | 26.1 | 11 | 10.6 | 28.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 72% | 7% | 16% | 10% |
| Operating Profit CAGR | 96% | 4% | 9% | 10% |
| PAT CAGR | 13% | -26% | -15% | 3% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 38% | 13% | 10% | 15% |
| ROE Average | 4% | 6% | 9% | 11% |
| ROCE Average | 7% | 7% | 12% | 14% |
| #(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 | 75 | 87 | 93 | 100 | 124 | 143 | 167 | 188 | 208 | 227 | 248 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 13 | 13 | 15 | 21 | 20 | 21 | 12 | 6 | 139 | 163 | 186 |
| Other Non-Current Liabilities | 19 | 22 | 21 | 22 | 31 | 19 | 27 | 37 | 47 | 56 | 28 |
| Total Current Liabilities | 46 | 44 | 49 | 50 | 36 | 32 | 56 | 78 | 67 | 105 | 142 |
| Total Liabilities | 154 | 166 | 178 | 194 | 211 | 215 | 262 | 309 | 461 | 551 | 604 |
| Fixed Assets | 91 | 91 | 89 | 111 | 127 | 134 | 129 | 128 | 140 | 294 | 408 |
| Other Non-Current Assets | 11 | 10 | 28 | 15 | 26 | 13 | 19 | 37 | 200 | 126 | 8 |
| Total Current Assets | 52 | 66 | 62 | 67 | 59 | 68 | 114 | 143 | 121 | 131 | 188 |
| Total Assets | 154 | 166 | 178 | 194 | 211 | 215 | 262 | 309 | 461 | 551 | 604 |
| #(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 | 1 | 0 | 0 | 0 | 0 | 0 | 8 | 24 | 17 | 2 | 0 |
| Cash Flow from Operating Activities | 16 | 17 | 14 | 18 | 45 | 32 | 25 | -7 | 21 | 19 | 8 |
| Cash Flow from Investing Activities | -9 | -4 | -27 | -18 | -24 | -14 | 0 | -15 | -146 | -87 | -46 |
| Cash Flow from Financing Activities | -8 | -13 | 13 | 1 | -21 | -10 | -10 | 16 | 110 | 66 | 48 |
| Net Cash Inflow / Outflow | -1 | -0 | -0 | -0 | 0 | 8 | 15 | -7 | -15 | -2 | 10 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 8 | 24 | 17 | 2 | 0 | 10 |
| # | 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) | 8.98 | 14.88 | 8.13 | 9.69 | 30.25 | 25.16 | 30.3 | 27.3 | 26.14 | 11 | 10.57 |
| CEPS(Rs) | 15.65 | 21.75 | 14.95 | 18.61 | 38.08 | 34.39 | 39.77 | 36.55 | 35.23 | 23.16 | 28.92 |
| DPS(Rs) | 0.5 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 | 1 | 1 | 0.68 | 0 | 0 |
| Book NAV/Share(Rs) | 94.97 | 109.24 | 117.38 | 126.49 | 156.13 | 180.64 | 210.39 | 237.05 | 262.56 | 303.03 | 278.2 |
| Core EBITDA Margin(%) | 9.23 | 11.12 | 8.37 | 9.63 | 16.49 | 14.28 | 17.01 | 10.99 | 7.84 | 7.06 | 10.09 |
| EBIT Margin(%) | 6.85 | 9.01 | 5.97 | 6.95 | 14.02 | 11.46 | 14.16 | 8.65 | 8.54 | 6.35 | 7.25 |
| Pre Tax Margin(%) | 4.52 | 7.1 | 4.09 | 4.72 | 12.11 | 9.62 | 12.84 | 7.56 | 6.8 | 3.84 | 2.79 |
| PAT Margin (%) | 3.29 | 4.67 | 2.9 | 3.28 | 8.59 | 8.18 | 9 | 5.17 | 5.57 | 2.8 | 1.86 |
| Cash Profit Margin (%) | 5.74 | 6.83 | 5.34 | 5.83 | 11.18 | 11.33 | 11.81 | 6.92 | 7.5 | 5.9 | 5.1 |
| ROA(%) | 4.71 | 7.35 | 3.73 | 4.44 | 11.43 | 9.24 | 10.07 | 7.58 | 5.38 | 1.63 | 1.63 |
| ROE(%) | 9.88 | 14.57 | 7.16 | 8.57 | 20.69 | 14.75 | 15.5 | 12.2 | 10.46 | 3.79 | 3.97 |
| ROCE(%) | 13.03 | 19.34 | 10.33 | 12.19 | 24.36 | 16.55 | 20.72 | 17.04 | 10.4 | 4.5 | 7.43 |
| Receivable days | 45.1 | 47.42 | 58.85 | 52.17 | 48.81 | 49.48 | 51.93 | 42.91 | 47.92 | 58.91 | 47.69 |
| Inventory Days | 29.82 | 27.19 | 31.75 | 31.33 | 30.66 | 31.36 | 33.9 | 36.52 | 52.16 | 67.64 | 44.5 |
| Payable days | 33.3 | 35.85 | 45.08 | 36.27 | 38.84 | 45.49 | 46.42 | 32.12 | 34.62 | 60.87 | 39.83 |
| PER(x) | 6.03 | 4.34 | 16.58 | 12.01 | 4.87 | 4.03 | 5.38 | 8.39 | 6.72 | 17.06 | 18 |
| Price/Book(x) | 0.57 | 0.59 | 1.15 | 0.92 | 0.94 | 0.56 | 0.77 | 0.97 | 0.67 | 0.62 | 0.68 |
| Dividend Yield(%) | 0.63 | 0.79 | 0.38 | 0.44 | 0.34 | 0.5 | 0.41 | 0.3 | 0.39 | 0 | 0 |
| EV/Net Sales(x) | 0.41 | 0.35 | 0.72 | 0.57 | 0.56 | 0.42 | 0.48 | 0.5 | 0.82 | 1.24 | 0.87 |
| EV/Core EBITDA(x) | 4.1 | 2.94 | 8.03 | 5.75 | 3.36 | 2.87 | 2.79 | 4.45 | 10.31 | 13.3 | 8.28 |
| Net Sales Growth(%) | -0.91 | 16.96 | -12.05 | 19.46 | 8.2 | -10.86 | 10.9 | 56.87 | -11.09 | -20.8 | 71.65 |
| EBIT Growth(%) | -30.18 | 53.46 | -41.71 | 32.71 | 115.13 | -27.15 | 37.04 | -4.18 | -12.16 | -41.16 | 96.09 |
| PAT Growth(%) | -39.45 | 65.78 | -45.44 | 28.76 | 179.67 | -15.02 | 21.95 | -9.89 | -4.27 | -60.15 | 14.24 |
| EPS Growth(%) | -39.45 | 65.78 | -45.38 | 19.17 | 212.36 | -16.82 | 20.4 | -9.89 | -4.27 | -57.91 | -3.9 |
| Debt/Equity(x) | 0.54 | 0.38 | 0.48 | 0.51 | 0.29 | 0.21 | 0.15 | 0.24 | 0.81 | 1 | 1.15 |
| Current Ratio(x) | 1.13 | 1.49 | 1.26 | 1.34 | 1.65 | 2.1 | 2.03 | 1.83 | 1.8 | 1.25 | 1.33 |
| Quick Ratio(x) | 0.69 | 1.1 | 0.83 | 0.9 | 1 | 1.54 | 1.47 | 1.16 | 1 | 0.72 | 0.85 |
| Interest Cover(x) | 2.93 | 4.71 | 3.18 | 3.11 | 7.34 | 6.25 | 10.75 | 7.96 | 4.89 | 2.53 | 1.63 |
| Total Debt/Mcap(x) | 0.95 | 0.64 | 0.41 | 0.55 | 0.31 | 0.38 | 0.19 | 0.25 | 1.22 | 1.35 | 1.69 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 56.84 | 56.84 | 59.34 | 59.39 | 59.39 | 59.39 | 59.39 | 59.39 | 59.39 | 59.6 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 43.16 | 43.16 | 40.66 | 40.61 | 40.61 | 40.61 | 40.61 | 40.61 | 40.61 | 40.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.3 | 0.3 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.23 | 0.23 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.54 | 0.54 | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 | 0.89 |
* The pros and cons are machine generated.
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