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Latest filings
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Shareholding Pattern
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Peer Comparison
| Company | P/E | P/B | ROE | Margin |
|---|---|---|---|---|
| STARPAPER₹242 Cr | 7.8× | 0.34× | 4.7% | 8.0% |
| SHREYANIND₹180 Cr | – | 0.42× | 1.5% | 1.0% |
| MAGNUM₹130 Cr | – | 0.19× | -1.6% | -2.4% |
| MALUPAPER₹56 Cr | – | – | – | -5.9% |
| BALKRISHNA₹52 Cr | – | – | – | -137.7% |
| ASTRON₹14 Cr | – | 0.20× | -19.6% | -758.4% |
Paper & Paper Products: the companies closest in market value, of the 21 in that basic industry whose filings we hold. Computed from each company's NSE filings (up to Q1 FY27) and the last close; hover a column for its definition.
Forensic Flags
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Formula Scores
Piotroski F-score: 5 of 9 · FY to 2026-03-31one point for each of nine tests on profitability, leverage and liquidity, and operating efficiency, comparing the year with the one before
- ✗ Return on assets positive: -11.33 — profit after tax over the year's opening total assets, %
- ✓ Operating cash flow positive: 7.3 — ₹ crore
- ✓ Cash flow above profit (accruals): 26.8 — operating cash flow less profit after tax, ₹ crore
- ✗ Return on assets improved: -4.08 — change in ROA, percentage points
- ✓ Long-term borrowings to assets fell: -2.47 — change in long-term borrowings over total assets, percentage points
- ✗ Current ratio improved: -0.06 — change in current assets over current liabilities
- ✓ No new shares issued: 0 — change in share capital, %
- ✗ Gross margin improved: -2.14 — revenue less material cost over revenue, change in percentage points
- ✓ Asset turnover improved: 0.274 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹-20 Cr (2026-03-31) · profit after tax ₹-12 Cr (2025-03-31) · total assets ₹181 Cr (2026-03-31) · total assets ₹172 Cr (2025-03-31)
The paper's bands: 8–9: the paper's high group; 0–2: the paper's low group
Source: Joseph Piotroski, "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers", Journal of Accounting Research, 2000
Altman Z-score: 0.75 · FY to 2026-03-31Z = 1.2 × working capital / total assets + 1.4 × retained earnings / total assets + 3.3 × EBIT / total assets + 0.6 × market value of equity / total liabilities + 1.0 × sales / total assets
- working capital / total assets: -0.591 × 1.2
- retained earnings / total assets: -0.235 × 1.4 — reserves and surplus as retained earnings
- EBIT / total assets: -0.065 × 3.3 — profit before tax plus finance cost
- market value of equity / total liabilities: 0.264 × 0.6 — market capitalisation over total assets less equity
- sales / total assets: 1.841 × 1
Inputs: total assets ₹181 Cr (2026-03-31) · current assets ₹94 Cr (2026-03-31) · current liabilities ₹200 Cr (2026-03-31) · reserves ₹-43 Cr (2026-03-31) · total equity ₹-25 Cr (2026-03-31) · profit before tax ₹-23 Cr (2026-03-31) · finance cost ₹11 Cr (2026-03-31) · revenue ₹333 Cr (2026-03-31) · market capitalisation (today) ₹55 Cr
The paper's bands: above 2.99: the paper's safe zone; 1.81–2.99: the grey zone; below 1.81: the distress zone
the 1968 form, fitted on manufacturers; reserves stand in for retained earnings, and profit before tax plus finance cost for EBIT
Source: Edward Altman, "Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy", Journal of Finance, 1968
Graham number: not computed · FY to 2026-03-31undefined when earnings or book value per share are not positive
Sloan accrual ratio: -15.16 % of assets · FY to 2026-03-31(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹-20 Cr (2026-03-31) · operating cash flow ₹7 Cr (2026-03-31) · total assets ₹181 Cr (2026-03-31) · total assets ₹172 Cr (2025-03-31)
how much of the year's profit was not cash; the paper sorts companies by this and reports the top decile's later returns
Source: Richard Sloan, "Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?", The Accounting Review, 1996
Each score is its published formula applied to the company's own filings (standalone); open one for the tests, the inputs and the paper. Arithmetic on the filings, not a view on the stock.