Sector Alpha Week of 2026-08-07
Sector Alpha — machine-written from the numbers · Data as of 2026-08-07

Emami Paper Mills Ltd

EMAMIPAP
Paper

Emami Paper Mills Ltd is coiled. The quarters are improving, yet the P/E sits at the 8th percentile of its own 10-year range — the business is moving before the market.

Biggest watch item: the price is already 3 weeks into its uptrend — timing risk, not thesis risk.

The price is in a confirmed uptrend (3 weeks in) while the P/E sits at the 8th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +550.0% year on year, and 346% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.

Price
₹109
P/E
7.1×
8th pctile
of its own 10-year range
Revenue (Jun 26)
₹560 Cr
+21.7% YoY
Profit (Jun 26)
₹39.0 Cr
+550.0% YoY
Operating margin
15.0%
+7.0 pp YoY
ROCE
11%
FY26
ROIC
7.3%
vs WACC 12.0% → −4.7 pp
Cash conversion
346%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Emami Paper Mills Ltd trades at ₹109, in a confirmed uptrend and 3 weeks into that stage. That is +22.6% against its own 200-day average. It sits at 81% of a 52-week range of ₹74 to ₹118. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 9 straight weeks.

Today the stock is in a confirmed uptrend — week 3 of stage 2, confirmed. At ₹109 it trades +22.6% versus its 200-day average and sits at 81% of its 52-week range (₹74–₹118).

Aug 26: ₹109 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 1-year window.
+22.6% versus the 200-day line, week 3 of stage 2
Price50-day avg200-day avg
S4₹121₹109₹95.8₹83.2₹70.5₹109₹89Apr 26May 26Jun 26Jul 26Aug 26
S4₹121₹109₹95.8₹83.2₹70.5₹109₹89Apr 26Jun 26Aug 26
Beating or trailing, week by week since 2026 Each cell is one week from 2026 to now (22 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Apr 26Aug 26

Against the market, two honest reads. Cumulative: over the last 4 months the stock moved +45% while the NIFTY 500 moved +3% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 9 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Emami Paper Mills Ltd trades at 7.1× P/E, near the bottom of its own range — cheaper only 8% of the time. Its long-run median P/E is 18.0×, measured across 10.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 7.1× is near the bottom of its own range — cheaper only 8% of the time, against a long-run median of 18.0× measured over 10.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 7.1× vs a 18.0× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.2-year window; loss-period spikes above 54× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 8% of the time
P/EMedianEPS (TTM) (quarterly)
57.9×₹25.643.8×₹19.229.8×₹12.815.8×₹6.41.7×₹0.0×7.00×₹16Jun 16Feb 19Nov 21Apr 24Aug 26
57.9×₹25.643.8×₹19.229.8×₹12.815.8×₹6.41.7×₹0.0×7.00×₹16Jun 16Nov 21Aug 26
P/E
7.1×
8th percentile of 10y

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Emami Paper Mills Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 10 quarters across 3 curves, on partial evidence.

Growth, year by year: revenue −1.1% in FY26, profit +134.6% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
122%199%84%112%46%26%7.9%−61%−30%−148%%%−1.1%134.6%FY16FY21FY26
122%199%84%112%46%26%7.9%−61%−30%−148%%%−1.1%134.6%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit accelerating
RevenueProfitEPS
24%332%15%217%4.7%103%−5.2%−12%−15%−126%%%21.7%300%300%Sep 23Dec 24Jun 26
24%332%15%217%4.7%103%−5.2%−12%−15%−126%%%21.7%300%300%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
12%11%9.5%8.1%6.6%%11%FY23FY24FY26
12%11%9.5%8.1%6.6%%11%FY23FY24FY26
Revenue growth
Flat
latest +21.7% · span −12.3% to +21.7%
Profit growth
Flat
latest +550.0% · span −94.9% to +100.0%
ROCE
Stuck low
latest 11.0% · span 7.0%–12.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

The latest quarter’s profit carries a one-off item larger than the operating base, so the profit curve is shown but does not vote in the stage call.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−1.1%−7.1%+9.4%+13.5%
Profit+134.6%−4.0%+3.6%+8.1%
EPS+136.0%−3.9%+3.8%+8.2%
Revenue YoY (Jun 26)
+21.7%
latest quarter vs a year ago
Profit YoY (Jun 26)
+550.0%
latest quarter vs a year ago
Revenue 10y
13.5%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

68.2/100 — rank 2 of 11 in Paper · 65% evidence confidence

Emami Paper Mills Ltd scores 68.2 out of 100 against the 11 companies it is compared with in Paper, ranking 2. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

The four contributions add to the total exactly: 28.4 + 16.4 + 11.2 + 12.2 = 68.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Emami Paper Mills Ltd reported ₹560 Cr of revenue in the Jun 26 quarter, +21.7% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 13.5% a year. The last full year, FY26, came in at ₹1,907 Cr. The last four reported quarters add to ₹2,007 Cr.

FY26 revenue came in at ₹1,907 Cr (−1.1% on the year), capping 10 years at 13.5% compound. The latest quarter (Jun 26) printed ₹560 Cr, +21.7% year on year — the 3rd consecutive quarter of year-over-year growth.

FY26 revenue ₹1,907 Cr (−1.1% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
13.5% a year over 10 years
RevenueYoY growth
2.6k122%1.9k84%1.3k46%6437.9%0−30%₹ Cr%₹1,907−1.1%FY16FY21FY26
2.6k122%1.9k84%1.3k46%6437.9%0−30%₹ Cr%₹1,907−1.1%FY16FY21FY26
Jun 26: ₹560 Cr (+21.7% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
3rd straight quarter of growth
Revenue (quarterly)YoY growth
60524%45415%3024.7%151−5.2%0−15%₹ Cr%₹56021.7%Sep 23Dec 24Jun 26
60524%45415%3024.7%151−5.2%0−15%₹ Cr%₹56021.7%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +6.8% growth against the decade's 13.5% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +6.5% over the last 4 quarters against +1.7%/yr over the last 8 — accelerating; TTM profit +375.0% vs +0.0%/yr — accelerating.

06 · Operating margin

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

Emami Paper Mills Ltd's operating margin is 15.0% in the Jun 26 quarter, +7.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 7.0% to 16.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 15.0%, +7.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 7.0%–16.0%.

Why the margin moved: operating margin went +6.6 pp year on year while gross margin went +5.6 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 10.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 12-year window.
within a 7.0–16.0% band over 12 years
operating marginYoY change (pp)
17%4.9%14%1.7%12%−1.5%8.9%−4.7%6.3%−7.9%%%10%3%FY15FY20FY26
17%4.9%14%1.7%12%−1.5%8.9%−4.7%6.3%−7.9%%%10%3%FY15FY20FY26
Jun 26: 15.0% operating margin (+7.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
17%13%14%6.8%12%1.0%8.9%−4.8%6.3%−11%%%15%7%Sep 23Dec 24Jun 26
17%13%14%6.8%12%1.0%8.9%−4.8%6.3%−11%%%15%7%Sep 23Dec 24Jun 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Emami Paper Mills Ltd earned ₹39.0 Cr of net profit in the Jun 26 quarter, +550.0% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹61.0 Cr. The 10-year compound rate is 8.1%. That is 7.0% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Jun 26 profit was ₹39.0 Cr, +550.0% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹61.0 Cr (+134.6%), and the 10-year compound rate is 8.1%.

FY26 profit ₹61.0 Cr (+134.6% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
8.1% a year over 10 years
Net profitYoY growth
125199%89112%5326%16−60%−20−147%₹ Cr%₹61134.6%FY16FY21FY26
125199%89112%5326%16−60%−20−147%₹ Cr%₹61134.6%FY16FY21FY26
Jun 26: ₹39.0 Cr (+550.0% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
3rd straight quarter of growth
Net profit (quarterly)YoY growth
421,304%32928%21553%11177%0−198%₹ Cr%₹39550%Sep 23Dec 24Jun 26
421,304%32928%21553%11177%0−198%₹ Cr%₹39550%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +21.7% and the margin +7.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +496.9% vs revenue +6.8%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 346% of Emami Paper Mills Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹197 Cr of operating cash against ₹61.0 Cr of profit. After ₹28.0 Cr of capital spending, ₹169 Cr was left as free cash.

FY26: operating cash of ₹197 Cr against reported profit of ₹61.0 Cr, leaving free cash of ₹169 Cr after ₹28.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 346% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹197 Cr vs profit ₹61.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution. FY17 reflects an acquisition year — point shown clipped.
346% of 3-year profit arrived as cash
Operating cashNet profitFree cash
39822756−115−286₹ Cr₹197₹61₹169FY16FY21FY26
39822756−115−286₹ Cr₹197₹61₹169FY16FY21FY26
FY26: CFO = 323% of profit (three-year rate 346%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
347%177%7.0%−163%−333%%300%FY16FY21FY26
347%177%7.0%−163%−333%%300%FY16FY21FY26

Why conversion sits at 346%: the cash cycle stretched 29 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Emami Paper Mills Ltd's cash conversion cycle runs 109 days in FY26, up from 80 days in FY21. Capital spending ran ₹51.0 Cr over the last 3 years. At FY26 sales of ₹1,907 Cr each day of that cycle holds about ₹5.2 Cr, so roughly ₹569 Cr sits inside the business at any moment.

FY26: debtors at 52 days, inventory at 114 days — roughly 3.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 109 days, looser than FY21's 80.

The full loop: cash goes out to suppliers and production on day 0; stock waits 114 days to sell; customers pay about 52 days after that; and suppliers themselves are paid at 58 days — netting out to the 109-day cycle.

In money terms: at FY26 sales of ₹1,907 Cr, each day of the cycle holds about ₹5.2 Cr — so the 109-day loop keeps roughly ₹569 Cr sitting inside the business at any moment.

FY26: a 109-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 12-year window.
+29 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
2051581126518days109d114d52d58dFY15FY17FY20FY23FY26
2051581126518days109d114d52d58dFY15FY20FY26

On the investment side: capital spending of ₹51.0 Cr over the last 3 fiscal years against ₹167 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹5.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹28.0 Cr, work-in-progress ₹5.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
1941357515−44₹ Cr₹28₹5FY16FY18FY21FY23FY26
1941357515−44₹ Cr₹28₹5FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Emami Paper Mills Ltd earns a ROCE of 11% in FY26. That is up from a trough of 2% in FY15. Return on invested capital clears the cost of that capital by −4.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.2% net margin on 1.05× asset turns.

FY26 ROCE is 11%, recovered from a FY15 trough of 2% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 3.2% net margin × 1.05× asset turns × 3.67× balance-sheet leverage ≈ 12.3% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 7.3% − 12.0% = a −4.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 11% Return on capital employed by fiscal year, % (line). 12-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY15's 2%
ROCEWACC
18%14%9.5%5.2%0.8%%11%FY15FY17FY20FY23FY26
18%14%9.5%5.2%0.8%%11%FY15FY20FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Emami Paper Mills Ltd carries ₹897 Cr of borrowings against ₹496 Cr of equity in FY26, a debt-to-equity of 1.81. Operating profit covers the interest bill 3×. Over 5 years borrowings went from ₹1,151 Cr to ₹897 Cr. Capital spending ran ₹51.0 Cr across the last 3 of those years.

FY26: borrowings of ₹897 Cr against equity of ₹496 Cr — a debt-to-equity of 1.81. Operating profit covers the interest bill 3×. Over 5 years borrowings went from ₹1,151 Cr to ₹897 Cr while capital spending ran ₹51.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

FY26: borrowings ₹897 Cr at 1.81× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 12-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
debt is falling while the business grows
BorrowingsDebt-to-equity
1.7k6.8×1.3k5.4×8364.0×4182.6×01.2×₹ Cr×₹8971.81×FY15FY17FY20FY23FY26
1.7k6.8×1.3k5.4×8364.0×4182.6×01.2×₹ Cr×₹8971.81×FY15FY20FY26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 1.0 points of Emami Paper Mills Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 0.0% of the company. Promoters moved +0.0 points over the same window, to 75.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −1.0 points over 8 quarters to 0.0%; Promoters: +0.0 points over 8 quarters to 75.0%; Foreign institutions: +0.0 points over 8 quarters to 0.5%.

🚨 Why the register moved: domestic institutions drove it (−1.0 points) — distribution into the market’s bid.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
81%59%37%16%−6.0%%75.0%0.5%0.1%24.4%Mar 24Mar 25Mar 26
81%59%37%16%−6.0%%75.0%0.5%0.1%24.4%Mar 24Mar 25Mar 26
Domestic institutions cut 1.0 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
81%59%37%16%−6.0%%75.0%0.5%0%24.5%Jun 23Dec 24Jun 26
81%59%37%16%−6.0%%75.0%0.5%0%24.5%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Emami Paper Mills Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Paper
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1N R Agarwal Industries LtdNRAIL 68.4/100Favorable setup87% evidence TURNING 31.6/35 Revenue 32.6% · PAT 100% · OPM change 7.4 pp 95% evidence 11.9/25 ROCE 8.5% · OPM 11% 95% evidence 9.3/20 P/E 14× · PEG — 50% evidence 15.6/20 RS sector 15.3% · RS bench 17.9% · 1Y 48%0 of 12 weeks ahead 100% evidence
Exact sum: 31.6 + 11.9 + 9.3 + 15.6 = 68.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Emami Paper Mills Ltdthis pageEMAMIPAP 68.2/100Favorable setup65% evidence TURNING 28.4/35 Revenue 6.5% · PAT 100% · OPM change 7 pp 95% evidence 16.4/25 ROCE 11.4% · OPM 15% 95% evidence 11.2/20 P/E 7.1× · PEG — 15% evidence 12.2/20 RS sector — · RS bench 20.6% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 28.4 + 16.4 + 11.2 + 12.2 = 68.2 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3Tamil Nadu Newsprint & Papers LtdTNPL 59.6/100Mixed-positive evidence76% evidence ASLEEP 20.5/35 Revenue 3.4% · PAT 100% · OPM change 3 pp 83% evidence 11.8/25 ROCE 6.4% · OPM 11% 95% evidence 11.5/20 P/E 4.4× · PEG — 15% evidence 15.8/20 RS sector 2.1% · RS bench 4.6% · 1Y 0.4%3 of 12 weeks ahead 100% evidence
Exact sum: 20.5 + 11.8 + 11.5 + 15.8 = 59.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Pudumjee Paper Products LtdPDMJEPAPER 54.2/100Mixed-positive evidence77% evidence TURNING 15.2/35 Revenue -0.1% · PAT -3.1% · OPM change 4 pp 83% evidence 20.3/25 ROCE 18.1% · OPM 17% 95% evidence 13.2/20 P/E 11.6× · PEG — 50% evidence 5.5/20 RS sector -32.8% · RS bench 0.3% · 1Y -21.3%5 of 10 weeks ahead 70% evidence
Exact sum: 15.2 + 20.3 + 13.2 + 5.5 = 54.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
5West Coast Paper Mills LtdWSTCSTPAPR 53.0/100Mixed-positive evidence78% evidence LEADER 15.4/35 Revenue 5.3% · PAT -53.6% · OPM change 5 pp 83% evidence 12.1/25 ROCE 6.2% · OPM 13% 76% evidence 5.5/20 P/E 26.2× · PEG — 50% evidence 20.0/20 RS sector 22.9% · RS bench 25.7% · 1Y 16%11 of 12 weeks ahead 100% evidence
Exact sum: 15.4 + 12.1 + 5.5 + 20 = 53 · Decision use: Price leads the evidence: RS versus the benchmark is 25.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6JK Paper LtdJKPAPER 50.3/100Mixed-positive evidence82% evidence ASLEEP 16.1/35 Revenue 10% · PAT -4.9% · OPM change 0 pp 95% evidence 14.1/25 ROCE 7.4% · OPM 15% 76% evidence 6.9/20 P/E 21.5× · PEG — 50% evidence 13.2/20 RS sector 0.8% · RS bench 3.2% · 1Y 10.7%2 of 12 weeks ahead 100% evidence
Exact sum: 16.1 + 14.1 + 6.9 + 13.2 = 50.3 · Decision use: Price leads the evidence: RS versus the benchmark is 3.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
7Seshasayee Paper & Boards LtdSESHAPAPER 42.0/100Mixed-negative evidence87% evidence ASLEEP 21.5/35 Revenue 5.9% · PAT 13.8% · OPM change 4 pp 95% evidence 7.4/25 ROCE 5.6% · OPM 9% 95% evidence 10.3/20 P/E 14.6× · PEG — 50% evidence 2.8/20 RS sector -12% · RS bench -10% · 1Y -13.9%0 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 7.4 + 10.3 + 2.8 = 42 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Kuantum Papers LtdKUANTUM 33.7/100Adverse evidence77% evidence TURNING 7.5/35 Revenue -1.2% · PAT -63.5% · OPM change -6 pp 83% evidence 10.7/25 ROCE 5.2% · OPM 16% 95% evidence 10.5/20 P/E 17.8× · PEG — 50% evidence 5.0/20 RS sector -30.6% · RS bench -7.2% · 1Y -32.3%0 of 10 weeks ahead 70% evidence
Exact sum: 7.5 + 10.7 + 10.5 + 5 = 33.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Andhra Paper LtdANDHRAPAP 30.9/100Adverse evidence74% evidence ASLEEP 10.8/35 Revenue 5.2% · PAT -66.3% · OPM change 3 pp 95% evidence 6.8/25 ROCE 0% · OPM 12% 95% evidence 8.5/20 P/E 43.1× · PEG — 15% evidence 4.8/20 RS sector -15.1% · RS bench -14% · 1Y -23.7%0 of 10 weeks ahead 70% evidence
Exact sum: 10.8 + 6.8 + 8.5 + 4.8 = 30.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Satia Industries LtdSATIA 23.6/100Adverse evidence83% evidence ASLEEP 4.7/35 Revenue -4% · PAT -65.5% · OPM change -11.2 pp 83% evidence 4.3/25 ROCE 3.9% · OPM 4.3% 95% evidence 8.7/20 P/E 15.5× · PEG — 50% evidence 5.9/20 RS sector -9.8% · RS bench -7.7% · 1Y -23.3%0 of 12 weeks ahead 100% evidence
Exact sum: 4.7 + 4.3 + 8.7 + 5.9 = 23.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11KS Smart Technlogies Limited516038 41.4/100Thin evidence · provisional28% evidence ASLEEP 17.7/35 Revenue — · PAT — · OPM change — 2% evidence 7.1/25 ROCE -6% · OPM 10% 76% evidence 9.1/20 P/E 23.4× · PEG — 15% evidence 7.5/20 RS sector — · RS bench -33.4% · 1Y 47.9%0 of 12 weeks ahead 25% evidence
Exact sum: 17.7 + 7.1 + 9.1 + 7.5 = 41.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. 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 curve the sector itself 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 widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Emami Paper Mills Ltd's share price today?

Emami Paper Mills Ltd trades at ₹109. The company is valued at ₹671 Cr. The stock sits at 81% of its 52-week range of ₹74–₹118, +22.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 3 weeks in. — as of 7 August 2026.

What were Emami Paper Mills Ltd's latest quarterly results?

Emami Paper Mills Ltd reported revenue of ₹560 Cr and net profit of ₹39.0 Cr for the Jun 26 quarter. Revenue rose 21.7% and profit rose 550.0% year on year. Earnings per share were ₹6.38. The operating margin was 15.0%, 7.0 pp higher than a year earlier. — as of 7 August 2026.

What is Emami Paper Mills Ltd's revenue?

Emami Paper Mills Ltd reported revenue of ₹560 Cr in the Jun 26 quarter, +21.7% year on year. For the full FY26 fiscal year, revenue was ₹1,907 Cr (−1.1%). Over the last 10 years revenue compounded at 13.5% a year. — as of 7 August 2026.

What is Emami Paper Mills Ltd's profit?

Emami Paper Mills Ltd earned ₹39.0 Cr of net profit in the Jun 26 quarter, +550.0% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹61.0 Cr. The operating margin ran 15.0% in the latest quarter. — as of 7 August 2026.

What is Emami Paper Mills Ltd's market cap?

Emami Paper Mills Ltd's market capitalisation is ₹671 Cr at a share price of ₹109. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 7 August 2026.

What is Emami Paper Mills Ltd's P/E ratio?

Emami Paper Mills Ltd trades at a P/E of 7.1×, at the 8th percentile of its own 10-year range, against a long-run median of 18.0×. This is a comparison with the stock's own history, not a value call — as of 7 August 2026.

Does Emami Paper Mills Ltd pay a dividend?

Yes — Emami Paper Mills Ltd's dividend payout was 32% of profit in FY26, and it recorded a payout in 10 of its last 12 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 7 August 2026.

Is Emami Paper Mills Ltd overvalued?

On its own history, Emami Paper Mills Ltd looks cheap against its own history: its P/E of 7.1× has been cheaper only 8% of the time in 10 years (long-run median 18.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 7 August 2026.

Is Emami Paper Mills Ltd growing?

Yes — Emami Paper Mills Ltd is growing: latest-quarter revenue +21.7% year on year, profit +550.0%, and the margin +7.0 pp at 15.0%. The 10-year compound rates are 13.5% (revenue) and 8.1% (profit). The earnings engine currently reads: improving — as of 7 August 2026.

How is Emami Paper Mills Ltd performing?

Emami Paper Mills Ltd is in a confirmed uptrend, 3 weeks in. Its latest quarter's revenue rose 21.7% and profit rose 550.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 9 weeks. This describes what the data did, not a rating. — as of 7 August 2026.

Is Emami Paper Mills Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 3 of stage 2), trading +22.6% versus its 200-day average and at 81% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 7 August 2026.

Is Emami Paper Mills Ltd beating the market?

On recent form, yes — Emami Paper Mills Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 9 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4 months the stock moved +45% against the NIFTY 500's +3% — ahead of the index over the full window. — as of 7 August 2026.

Will Emami Paper Mills Ltd's share price go up?

This page publishes no price forecast for Emami Paper Mills Ltd. What it measures instead: the share price is ₹109, the price is in a confirmed uptrend 3 weeks in. Its P/E of 7.1× sits at the 8th percentile of its own 10-year range. — as of 7 August 2026.

Who owns Emami Paper Mills Ltd?

Promoters hold 75.0% of Emami Paper Mills Ltd, foreign institutions 0.5%, domestic institutions 0.0% and the public 24.5% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 1.0 points over 8 quarters. — as of 7 August 2026.

Does Emami Paper Mills Ltd have too much debt?

It carries real leverage — Emami Paper Mills Ltd's debt-to-equity is 1.81, and operating profit covers the interest bill 3×. FY26 borrowings were ₹897 Cr against equity of ₹496 Cr. Read the returns on this page with that leverage in mind — as of 7 August 2026.

What is Emami Paper Mills Ltd's capex?

Emami Paper Mills Ltd spent ₹51.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹28.0 Cr, with ₹5.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 7 August 2026.

What is Emami Paper Mills Ltd's cash flow?

Emami Paper Mills Ltd generated ₹197 Cr of operating cash flow in FY26 and ₹169 Cr of free cash flow after ₹28.0 Cr of capital spending. Reported profit that year was ₹61.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 7 August 2026.

Is Emami Paper Mills Ltd's profit real cash?

Yes — over the last 3 fiscal years, 346% of Emami Paper Mills Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹197 Cr against reported profit of ₹61.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 7 August 2026.

Where is Emami Paper Mills Ltd in its business cycle?

Emami Paper Mills Ltd's FY26 operating margin was 10.0%, against a 12-year band of 7.0%–16.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 15.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 7 August 2026.

What could break the Emami Paper Mills Ltd story?

Biggest watch item: the price is already 3 weeks into its uptrend — timing risk, not thesis risk. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 7 August 2026.

Is Emami Paper Mills Ltd a stock worth studying right now?

This is not investment advice. The machine read: Emami Paper Mills Ltd is coiled. The quarters are improving, yet the P/E sits at the 8th percentile of its own 10-year range — the business is moving before the market. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 7 August 2026.

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