# Banganga Paper Industries share price (Banganga Paper Industries Ltd, NSE: BANGANGA)

> Banganga Paper Industries share price: ₹40.92 at the NSE close on 6 March 2026, the latest close in our records; down 51.4% in the year to that date. Banganga Paper Industries (NSE: BANGANGA) is worth ₹657 crore, trades at a P/E of 347.0 and has closed between ₹39.50 and ₹85.54 over the past 52 weeks. > Banganga Paper Industries Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. BANGANGA · Steel Products · data as of 6 March 2026. Page: https://www.sectoralpha.in/stocks/banganga-paper-industries-ltd

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## Key numbers

- Price: ₹40.92 (−51.4% in a year)
- P/E: 347.0× (higher than 70% of the last 10 months)
- Revenue (Dec 2025): ₹19.7 Cr (−5.0% on a year ago)
- Profit (Dec 2025): ₹0.1 Cr (−90.8% on a year ago)
- Operating margin: 5.7% (−2.0 points on a year ago)
- ROCE: 27%, FY25

The main question: promoters moved +20.9 percentage points over 8 quarters while the business went the other way. ## What is the 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. 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. ## What changed at Banganga Paper Industries this quarter? 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. ## What are Banganga Paper Industries' latest quarterly results? 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

| Measure | October to December 2025 | October to December 2024 | Change |
| --- | --- | --- | --- |
| Revenue | ₹19.7 crore | ₹20.7 crore | −5.0% |
| Profit | ₹0.07 crore | ₹0.76 crore | −90.8% |
| Earnings per share | ₹0.01 | ₹0.06 | −83.3% |
| Operating margin | 5.7% | 7.8% | −2.0 points |

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.)

## What is the Banganga Paper Industries share price history? 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

| When | Close | Change to 6 Mar 2026 |
| --- | --- | --- |
| 1 week ago · 27 Feb 2026 | ₹44.69 | −8.4% |
| 1 month ago · 6 Feb 2026 | ₹49.14 | −16.7% |
| 6 months ago · 5 Sep 2025 | ₹54.49 | −24.9% |
| 1 year ago · 7 Mar 2025 | ₹84.25 | −51.4% |
| 3 years ago · 6 Mar 2023 | ₹14.89 | +174.8% |
| Earliest and lowest weekly close in our records · 23 Dec 2022 | ₹8.38 | +388.3% |
| Highest weekly close since December 2022, also the 52-week high · 28 Mar 2025 | ₹85.54 | −52.2% |
| 52-week low (weekly close) · 31 Oct 2025 | ₹39.50 | +3.6% |

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.)

## What is the latest news on Banganga Paper Industries? 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. ## What dividend does Banganga Paper Industries pay? 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.)

## Which stock lists is Banganga Paper Industries on? Banganga Paper Industries is not on any of our India lists this week. ## Is Banganga Paper Industries profitable? 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. ## How much revenue does Banganga Paper Industries make, and is it growing? 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. 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. ## How much of every ₹100 of sales does Banganga Paper Industries keep? 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. 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. ## Is Banganga Paper Industries' profit turning into cash? 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. 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. ## Where does Banganga Paper Industries' cash go? 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. 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. ## What is Banganga Paper Industries' P/E ratio, and how does it compare with its own history? 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. 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. ## Is the Banganga Paper Industries business getting better or worse? 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. 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. ## How much does Banganga Paper Industries earn on its capital? 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). 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. ## Does Banganga Paper Industries have too much debt? 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. Part of the spending on assets is being paid for with borrowed money. ## What is the Banganga Paper Industries shareholding pattern? 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. Why the owners changed: promoters drove it (+20.9 points). They raised their stake step by step. ## How far is Banganga Paper Industries from balance-sheet trouble? 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. ## How does Banganga Paper Industries rank in its industry? 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. ## Which companies is Banganga Paper Industries compared with? Banganga Paper Industries ranks 16 of 16 Steel Products companies on the 4-Factor Sector Score, with 52.5 out of 100. 1. [Kamdhenu Ltd](https://www.sectoralpha.in/stocks/kamdhenu-ltd) KAMDHENU · turning · Most evidence points up · 100% evidence 77.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.6/35 · Revenue 5.9% · Profit 31.9% · Operating margin change 1 points · 100% evidence Capital efficiency 19.7/25 · ROCE 29.5% · Operating margin 13% · 100% evidence Valuation 17.1/20 · P/E 10.9× · PEG 0.47 · 100% evidence Relative strength 17.6/20 · Lead over its industry 27.7% · Lead over NIFTY 500 31% · 1 year 26.7% · 100% evidence · 11 of 12 weeks ahead Exact sum: 22.6 + 19.7 + 17.1 + 17.6 = 77 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Vardhman Special Steels Ltd](https://www.sectoralpha.in/stocks/vardhman-special-steels-ltd) VSSL · leader · Most evidence points up · 100% evidence 74.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 14.8% · Profit 67.7% · Operating margin change 2 points · 100% evidence Capital efficiency 14.6/25 · ROCE 15.3% · Operating margin 12% · 100% evidence Valuation 14.2/20 · P/E 19.7× · PEG 0.84 · 100% evidence Relative strength 17.0/20 · Lead over its industry 13.2% · Lead over NIFTY 500 16.9% · 1 year 14.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.1 + 14.6 + 14.2 + 17 = 74.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Shyam Metalics & Energy Ltd](https://www.sectoralpha.in/stocks/shyam-metalics-energy-ltd) SHYAMMETL · leader · Most evidence points up · 100% evidence 73.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.6/35 · Revenue 25.6% · Profit 41.7% · Operating margin change 2 points · 100% evidence Capital efficiency 17.4/25 · ROCE 13% · Operating margin 14% · 100% evidence Valuation 8.6/20 · P/E 24× · PEG 1.25 · 100% evidence Relative strength 18.7/20 · Lead over its industry 27.4% · Lead over NIFTY 500 31.7% · 1 year 32.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 28.6 + 17.4 + 8.6 + 18.7 = 73.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Kalyani Steels Ltd](https://www.sectoralpha.in/stocks/kalyani-steels-ltd) KSL · losing its lead · Evidence leans up · 100% evidence 60.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.6/35 · Revenue -1.1% · Profit 8.1% · Operating margin change 3 points · 100% evidence Capital efficiency 17.1/25 · ROCE 14.8% · Operating margin 22% · 100% evidence Valuation 11.6/20 · P/E 12.5× · PEG 1 · 100% evidence Relative strength 12.9/20 · Lead over its industry 3.7% · Lead over NIFTY 500 7.2% · 1 year -4.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 18.6 + 17.1 + 11.6 + 12.9 = 60.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [BMW Industries Ltd](https://www.sectoralpha.in/stocks/bmw-industries-ltd) turning · Evidence leans up · 83% evidence 57.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.9/35 · Revenue 5.9% · Profit 8% · Operating margin change -1 points · 83% evidence Capital efficiency 13.1/25 · ROCE 11.9% · Operating margin 20% · 95% evidence Valuation 12.9/20 · P/E 12.7× · PEG n/a · 50% evidence Relative strength 15.9/20 · Lead over its industry 7.5% · Lead over NIFTY 500 10.3% · 1 year 9% · 100% evidence · 1 of 12 weeks ahead Exact sum: 15.9 + 13.1 + 12.9 + 15.9 = 57.8 · What this means: Relative strength against the index is 10.3%, and revenue and profit growth are weak. 6. [Sunflag Iron & Steel Company Ltd](https://www.sectoralpha.in/stocks/sunflag-iron-steel-company-ltd) SUNFLAG · breaking out · Evidence leans up · 96% evidence 56.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 9% · Profit 4.6% · Operating margin change -1 points · 88% evidence Capital efficiency 9.5/25 · ROCE 4.1% · Operating margin 11% · 100% evidence Valuation 10.3/20 · P/E 33.2× · PEG 0.65 · 100% evidence Relative strength 19.6/20 · Lead over its industry 29% · Lead over NIFTY 500 32.1% · 1 year 46.3% · 100% evidence · 6 of 12 weeks ahead Exact sum: 16.7 + 9.5 + 10.3 + 19.6 = 56.1 · What this means: Relative strength against the index is 32.1%, and revenue and profit growth are weak. 7. [Panchmahal Steel Ltd](https://www.sectoralpha.in/stocks/panchmahal-steel-ltd) PANCHMAHQ · losing its lead · Evidence leans down · 78% evidence 49.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.9/35 · Revenue 10.6% · Profit 100% · Operating margin change 4.9 points · 100% evidence Capital efficiency 7.0/25 · ROCE 3.1% · Operating margin 8.3% · 100% evidence Valuation 3.9/20 · P/E 65.4× · PEG 7.04 · 65% evidence Relative strength 9.8/20 · Lead over its industry n/a · Lead over NIFTY 500 0.3% · 1 year -1.2% · 25% evidence · 2 of 5 weeks ahead Exact sum: 28.9 + 7 + 3.9 + 9.8 = 49.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Prakash Industries Ltd](https://www.sectoralpha.in/stocks/prakash-industries-ltd) PRAKASH · basing · Evidence leans down · 96% evidence 49.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.3/35 · Revenue -10.6% · Profit -12.1% · Operating margin change 1 points · 88% evidence Capital efficiency 11.7/25 · ROCE 9.6% · Operating margin 14% · 100% evidence Valuation 19.1/20 · P/E 6.4× · PEG 0.19 · 100% evidence Relative strength 6.0/20 · Lead over its industry -14.4% · Lead over NIFTY 500 -10.7% · 1 year -31.6% · 100% evidence · 1 of 12 weeks ahead Exact sum: 12.3 + 11.7 + 19.1 + 6 = 49.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 9. [Beekay Steel Industries Ltd](https://www.sectoralpha.in/stocks/beekay-steel-industries-ltd) BEEKAY · breaking out · Evidence leans down · 81% evidence 47.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.5/35 · Revenue 13.9% · Profit -51.1% · Operating margin change 5 points · 88% evidence Capital efficiency 7.3/25 · ROCE 4.2% · Operating margin 11% · 100% evidence Valuation 13.7/20 · P/E 18.1× · PEG 0.45 · 100% evidence Relative strength 11.1/20 · Lead over its industry n/a · Lead over NIFTY 500 5.8% · 1 year -11.5% · 25% evidence · 10 of 12 weeks ahead Exact sum: 15.5 + 7.3 + 13.7 + 11.1 = 47.6 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Jindal Steel Ltd](https://www.sectoralpha.in/stocks/jindal-steel-ltd) JINDALSTEL · losing its lead · Evidence leans down · 100% evidence 45.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 25.5% · Profit 2.4% · Operating margin change -3 points · 100% evidence Capital efficiency 13.1/25 · ROCE 9.7% · Operating margin 15% · 100% evidence Valuation 10.4/20 · P/E 33.6× · PEG 1.09 · 100% evidence Relative strength 8.0/20 · Lead over its industry -4.7% · Lead over NIFTY 500 -0.6% · 1 year -0.5% · 100% evidence · 3 of 12 weeks ahead Exact sum: 13.9 + 13.1 + 10.4 + 8 = 45.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Steel Exchange India Ltd](https://www.sectoralpha.in/stocks/steel-exchange-india-ltd) STEELXIND · quiet · Evidence leans down · 89% evidence 40.7 out of 100 Growth Capital Valuation Relative
12. [Gallantt Ispat Ltd.](https://www.sectoralpha.in/stocks/gallantt-ispat-ltd) GALLANTT · quiet · Evidence leans down · 100% evidence 37.7 out of 100 Growth Capital Valuation Relative
13. [Rhetan TMT Ltd](https://www.sectoralpha.in/stocks/rhetan-tmt-ltd) RHETAN · quiet · Evidence leans down · 89% evidence 36.9 out of 100 Growth Capital Valuation Relative
14. [Electrotherm (India) Ltd](https://www.sectoralpha.in/stocks/electrotherm-indialtd) ELECTHERM · quiet · Most evidence points down · 61% evidence 22.4 out of 100 Growth Capital Valuation Relative
15. [Salasar Techno Engineering Ltd](https://www.sectoralpha.in/stocks/salasar-techno-engineering-ltd) SALASAR · basing · Most evidence points down · 96% evidence 20.1 out of 100 Growth Capital Valuation Relative
16. Banganga Paper Industries Ltd this page BANGANGA · Too little evidence to rank firmly · 29% evidence 52.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/43.75 · Revenue 100% · Profit 100% · Operating margin change -2 points · 33% evidence Capital efficiency 17.6/31.25 · ROCE 27% · Operating margin 5.7% · 57% evidence Valuation 10.6/25 · P/E 347× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 24.3 + 17.6 + 10.6 = 52.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 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](https://www.sectoralpha.in/sectors/steel-products), all 16 compared on one page. ## Which companies are close to Banganga Paper Industries in size? 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

1. [Rhetan TMT Ltd](https://www.sectoralpha.in/stocks/rhetan-tmt-ltd) ₹1,068 crore
2. [Kamdhenu Ltd](https://www.sectoralpha.in/stocks/kamdhenu-ltd) ₹988 crore
3. [Beekay Steel Industries Ltd](https://www.sectoralpha.in/stocks/beekay-steel-industries-ltd) ₹791 crore
4. [Electrotherm (India) Ltd](https://www.sectoralpha.in/stocks/electrotherm-indialtd) ₹738 crore
5. [Salasar Techno Engineering Ltd](https://www.sectoralpha.in/stocks/salasar-techno-engineering-ltd) ₹685 crore
6. Banganga Paper Industries Ltd ₹657 crore
7. [Panchmahal Steel Ltd](https://www.sectoralpha.in/stocks/panchmahal-steel-ltd) ₹652 crore

[All 16 Steel Products companies, largest first](https://www.sectoralpha.in/sectors/steel-products#all-companies)

### Companies close in size in other industries

1. [Amal Ltd](https://www.sectoralpha.in/stocks/amal-ltd) ₹658 crore · Speciality Chemicals
2. [Orbit Exports Ltd](https://www.sectoralpha.in/stocks/orbit-exports-ltd) ₹658 crore · Textiles - Weaving
3. Banganga Paper Industries Ltd ₹657 crore
4. [Z F Steering Gear (India) Ltd](https://www.sectoralpha.in/stocks/z-f-steering-gear-indialtd) ₹655 crore · Auto Ancillaries - Gears
5. [Deccan Cements Ltd](https://www.sectoralpha.in/stocks/deccan-cements-ltd) ₹654 crore · Cement

## What else do people ask about Banganga Paper Industries? ### What were Banganga Paper Industries's latest quarterly results? Banganga Paper Industries Ltd reported revenue of ₹19.7 Cr and net profit of ₹0.1 Cr for the Dec 2025 quarter. Revenue fell 5.0% and profit fell 90.8% compared with a year earlier. Earnings per share were ₹0.01. The operating margin was 5.7%, 2.0 percentage points lower than a year earlier (as of 6 March 2026). ### What is Banganga Paper Industries's market cap? Banganga Paper Industries Ltd's market capitalisation is ₹657 Cr at a share price of ₹40.92. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 6 March 2026). ### How is Banganga Paper Industries performing? Banganga Paper Industries Ltd's share price has been falling for 26 weeks. In its latest quarter, revenue fell 5.0% and profit fell 90.8% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 6 March 2026). ### Will Banganga Paper Industries's share price go up? This page does not forecast Banganga Paper Industries Ltd's share price. What it shows instead: the share price is ₹40.92, and it has been falling for 26 weeks. Its P/E of 347.0× is higher than 70% of its own last 1 years (as of 6 March 2026). ### Who owns Banganga Paper Industries? Promoters own 27.3% of Banganga Paper Industries Ltd, foreign institutions , domestic institutions, and the public 72.7% (latest quarter). The biggest change over the last two years: Promoters raised their stake by 20.9 percentage points over 8 quarters (as of 6 March 2026). ### Where is Banganga Paper Industries in its business cycle? Banganga Paper Industries Ltd's FY25 operating margin was 8.2%, against a 2-year range of −5.1% to 8.2%: the middle of its own range, neither a peak nor a low. The latest quarter was 5.7%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 6 March 2026). ### What could break the Banganga Paper Industries story? The main question: promoters moved +20.9 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 6 March 2026). ### Is Banganga Paper Industries a stock worth studying right now? What the numbers show: Banganga Paper Industries Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 6 March 2026). This is research, not advice. We’re not SEBI-registered.