Banganga Paper Industries share price

Banganga Paper Industries Ltd's share price was ₹40.92 at the close on 6 March 2026. It has been falling for 26 weeks. That is 24.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹40 and ₹86, and at that close it sat 3% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Banganga Paper Industries Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running.

Over the last 3.2 years the share price moved +388% while the NIFTY 500 moved +46%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 20 February 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

7 points in one quarter.

1. Promoters cut their stake by 43.7 points in one quarter

   From 71% to 27.3% in the February 2026 quarter.

For October to December 2025 (the quarter ended 31 December 2025), Banganga Paper Industries reported revenue of ₹19.7 crore, down 5.0% from ₹20.7 crore a year earlier, and a profit of ₹0.07 crore, down 90.8% from ₹0.76 crore.

Banganga Paper Industries results: October to December 2025 against a year earlier

The next results, for January to March 2026, are due by 30 May 2026: listed companies must publish quarterly results within 60 days of the quarter's end (the January to March quarter comes with the full-year accounts).

From the company's reported quarterly results (quarter ended 31 December 2025). Revenue and profit in ₹ crore.

Banganga Paper Industries closed at ₹40.92 on 6 March 2026, down 51.4% from ₹84.25 a year earlier (7 March 2025) and up 174.8% over three years. Its highest weekly close since December 2022 was ₹85.54 on 28 March 2025.

Banganga Paper Industries share price: then and now

Weekly closing prices. Each change is the move from that price to the 6 Mar 2026 close. A day's intraday high or low can go beyond these weekly closes.

99 weekly closes from 23 December 2022 to 6 March 2026.

6 Mar 2026: Banganga Paper Industries closed at ₹40.92, down 8.4% on the week and down 16.7% on the month. Results for October to December 2025: Revenue down 5.0% and profit down 90.8% on a year earlier.

Banganga Paper Industries has paid no dividend on the NSE since its first NSE close in our records (23 December 2022), the start of the period we checked.

No. Banganga Paper Industries Ltd paid out 0% of its profit as dividends in each of its last 2 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

Banganga Paper Industries is not on any of our India lists this week.

Banganga Paper Industries Ltd earned ₹0.1 Cr of net profit in the Dec 2025 quarter, −90.8% on the same quarter a year earlier. Full-year FY25 profit was ₹1.9 Cr. That is 0.4% of the quarter's revenue. The same quarter a year earlier earned ₹0.8 Cr. 2 of the last 10 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Banganga Paper Industries Ltd reported ₹19.7 Cr of revenue in the Dec 2025 quarter, −5.0% on the same quarter a year earlier. Over 1 years it has grown 14,794.9% a year on average. The last full year, FY25, came in at ₹58.1 Cr. The last four reported quarters add to ₹85.5 Cr.

Revenue is everything the company billed its customers in the period.

Recent pace: the last four quarters grew +6,188.4% on average, against 14,794.9% a year over the longer run, so this year is growing slower than its own long-run rate.

Banganga Paper Industries Ltd's operating margin was 5.7% in the Dec 2025 quarter, 2.0 percentage points lower than the same quarter a year ago.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Across 2 years it has been between −5.1% and 8.2%.

Why the margin moved: operating margin changed −2.0 percentage points on the year while gross margin changed +1.2 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Banganga Paper Industries Ltd's cash-flow history is too short to judge how much of its profit turns into cash. In FY25 its operations used ₹2.4 Cr of cash, against ₹1.9 Cr of profit. After ₹18.0 Cr of spending on assets, free cash was −₹20.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

What to look at next: the bigger use of cash is spending on new assets, at 18.0× depreciation over three years. The next section checks what that spending is building.

Banganga Paper Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 15 days in FY25, down from 168 days in FY24. It spent ₹18.0 Cr on assets over the last 1 years. Customers take 41 days to pay, and stock sits for 53 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY25 sales of ₹58.1 Cr, each day of that cycle ties up about ₹0.2 Cr, so roughly ₹2.0 Cr is tied up in the business at any time.

FY25: customers took 41 days to pay and stock sat for 53 days, about 1.8 months of sales sitting as stock, for a full cycle of 15 days, shorter than FY24's 168.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 53 days. Customers pay about 41 days after that. Suppliers are paid at 79 days. Together that makes the 15-day cycle.

Spending on assets: ₹18.0 Cr over the last 1 years, against ₹1.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.1 Cr (FY25): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Banganga Paper Industries Ltd's P/E is 347.0×, near the high end of its own history: higher than 70% of past readings. Its usual P/E (the middle reading) is 250.7×, over 10 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Dec 2025 add up to ₹0.15.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Banganga Paper Industries Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 4 quarters of 0 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Banganga Paper Industries Ltd earned a ROCE of 27% in FY25. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 3.2% net margin and 1.49× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY25): a 3.2% net margin × 1.49× asset turnover × 2.50× leverage (assets divided by equity) ≈ 11.9% on equity. The margin does its share; borrowing is a big part of it.

Banganga Paper Industries Ltd had ₹10.0 Cr of borrowings against ₹15.6 Cr of equity in FY25, so its debt is 0.64× its equity. Its operating profit is 6 times its interest bill. Over 1 years borrowings went from ₹0.0 Cr to ₹10.0 Cr. Over the last 1 of those years it spent ₹18.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

Promoters raised their stake in Banganga Paper Industries Ltd by 20.9 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 27.3% of the company. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why the owners changed: promoters drove it (+20.9 points). They raised their stake step by step.

For Banganga Paper Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

52.5 out of 100, rank 16 of 16 in Steel Products, with 29% of the evidence available. It is provisional, so it is ranked below companies with full evidence.

Banganga Paper Industries Ltd scores 52.5 out of 100 against the 16 companies it is compared with in Steel Products, ranking 16. Some evidence is missing, so the score is pulled toward the middle on purpose.

The three scored parts add up to the total exactly: 24.3 + 17.6 + 10.6 = 52.5 (no relative-strength reading this week; its 20 points are shared across the other three). This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Banganga Paper Industries ranks 16 of 16 Steel Products companies on the 4-Factor Sector Score, with 52.5 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Steel Products, all 16 compared on one page.

Banganga Paper Industries is the 15th largest of 16 Steel Products companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Rhetan TMT, Kamdhenu, Beekay Steel Industries, Electrotherm (India) and Salasar Techno Engineering. Just below it: Panchmahal Steel.

Steel Products companies close in size

10. Rhetan TMT Ltd ₹1,068 crore
11. Kamdhenu Ltd ₹988 crore
12. Beekay Steel Industries Ltd ₹791 crore
13. Electrotherm (India) Ltd ₹738 crore
14. Salasar Techno Engineering Ltd ₹685 crore
15. Banganga Paper Industries Ltd ₹657 crore
16. Panchmahal Steel Ltd ₹652 crore

All 16 Steel Products companies, largest first

Companies close in size in other industries

1856. Amal Ltd ₹658 crore · Speciality Chemicals
1857. Orbit Exports Ltd ₹658 crore · Textiles - Weaving
1858. Banganga Paper Industries Ltd ₹657 crore
1859. Z F Steering Gear (India) Ltd ₹655 crore · Auto Ancillaries - Gears
1860. Deccan Cements Ltd ₹654 crore · Cement

Sector Alpha, written by code from the published numbers. Data as of 6 March 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.