Outcome of the Board Meeting held on 13.05.2025 and Audited Financial Results for the year ended 31.03.2025
TNPL · price
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On the reaction day the stock moved 2.7 pts more than Nifty Microcap 250 and 1.9 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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TNPL's Board approved audited FY25 standalone results on 13 May 2025. Revenue from operations fell to ₹4,490.91 Cr from ₹4,689.61 Cr in FY24, a decline of about 4.2%. Profit after tax collapsed nearly 98% to just ₹3.73 Cr (from ₹208.16 Cr), while EBITDA fell from ₹838.75 Cr to ₹527.17 Cr, a ~37% drop. Basic EPS for the year was ₹0.54 versus ₹30.08 a year ago. Q4 revenue was better at ₹1,393.79 Cr but PAT was still down at ₹22.12 Cr vs ₹32.99 Cr. Management blamed severe price pressure from cheap ASEAN paper imports and a 20–25% spike in domestic hardwood pulp costs for the sharp margin compression. The Board has recommended a final dividend of ₹3 per share (30%). Operating cash flow improved sharply to ₹569.79 Cr, the company reduced total borrowings, and appointed a new CFO and Executive Director (Operations)/CRO.
Despite stable topline, earnings have nearly evaporated with EBITDA margin compressing from ~17.6% to ~11.5%, signalling intense pricing pressure in the paper business that could weigh on the stock in the near term. The 30% dividend provides some support, but sustainability at current profit levels may be questioned by shareholders. Strong operating cash flow and lower debt are positive offsets.