Makes paper, paperboard and packaging products, with Paper and Packaging accounting for 97.3% of FY26 segment revenue at Rs 6,890.28 crore and an "Others" segment contributing the remaining 2.7% at Rs 192.17 crore. The business recorded its highest-ever paper and board sales of 8.19 lakh MT in FY26, operating across integrated pulp and paper manufacturing units. A new Bleached Chemi-Thermo-Mechanical Pulp (BCTMP) plant at the Gujarat unit commenced commercial production on June 30, 2026, adding in-house pulp capacity to support paper manufacturing and reduce reliance on imported pulp. The company raised its stake in packaging converter Borkar Packaging to 87.36% and made The Sirpur Paper Mills a wholly-owned subsidiary via a Composite Scheme of Arrangement effective March 15, 2026, which also amalgamated three packaging conversion entities. Materials account for 62.7% of revenue, with employee costs at 9.8%, other operating expenses at 15.3% and depreciation at 5.3%; capex ran at 7.1% of revenue in FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Paper and Packaging (97%), Others (3%). Cyclical, asset-heavy pulp, paper and integrated packaging manufacturing.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3,969 | 6,437 | 6,659 | 6,718 | 7,076 |
| EBITDA (ex other income) | 997 | 1,978 | 1,616 | 928 | 907 |
| margin % | 25.1 | 30.7 | 24.3 | 13.8 | 12.8 |
| Owners' profit | 543 | 1,196 | 1,122 | 410 | 266 |
| EPS, as reported (₹) | 32.03 | 70.59 | 66.22 | 24.19 | 14.66 |
| ROE % · ROCE % | 18.1 · 14.7 | 29.0 · 25.6 | 21.7 · 19.5 | 7.3 · 8.8 | 4.7 · 7.1 |
| Debt / equity (x) | 1.04 | 0.67 | 0.42 | 0.33 | 0.42 |
| Cash from operations | 774 | 1,762 | 1,376 | 613 | 773 |
| Capex | (853) | (224) | (240) | (253) | (503) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,683 | 1,632 | 1,690 | 1,674 | 1,749 | 1,763 | 1,966 | 1,887 |
| Profit before tax | 145 | 83 | 105 | 116 | 101 | 37 | 117 | 182 |
| Net profit | 129 | 65 | 77 | 85 | 78 | 28 | 90 | 136 |
| EPS (₹) | 7.59 | 3.86 | 4.51 | 4.80 | 4.42 | 1.61 | 5.07 | 7.18 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Paper and Packaging | 6,929 | 96.8 |
| Others | 230 | 3.2 |
| Total, before eliminations | 7,159 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JK PAPER LIMITED ◆ | 7,513 | 22.7 | 1.30 | 10.1 | 4.7 | 4.4 | 20.8 | 17.0 |
| WEST COAST PAPER MILLS LT | 4,722 | 20.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · JK Paper acquires remaining 20% in RWPL, makes it wholly owned subsidiary | strategic transactions | high | — | — |
| 3 Sept 2026 · JK Paper 65th AGM: all 8 resolutions passed, Rs 4 dividend declared | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Shareholders approve Ronak Jhuthawat and Co. as Secretarial Auditor for five years | management changes | medium | — | — |
| 2 Sept 2026 · JK Paper 65th AGM: 40 percent dividend declared, CMD reappointed | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Internal promotion: new Company Secretary appointed | management changes | medium | — | — |
| 12 Aug 2026 · JK Paper submits revised Annual Report for FY 2025-26 | compliance | low | — | — |
| 7 Aug 2026 · JK Paper publishes newspaper notice about 65th AGM and e-voting | compliance | minimal | — | — |
| 6 Aug 2026 · JK Paper files BRSR sustainability report for FY 2025-26 | compliance | minimal | — | — |
| 6 Aug 2026 · JK Paper files FY2025-26 annual report, declares Rs.4 dividend | results | high | — | — |
| 6 Aug 2026 · JK Paper fixes 26 Aug 2026 as cut-off date for 65th AGM e-voting | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 1.13 |
| 9.5 |
| 3.7 |
| 5.0 |
| 13.8 |
| 23.6 |
| SESHASAYEE PAPER & BOARDS | 1,517 | 15.3 | 0.74 | 10.4 | 4.0 | 4.1 | 16.9 | 11.3 |
| ANDHRA PAPER LIMITED | 1,464 | 53.0 | 0.75 | — | 1.0 | 1.2 | — | 17.9 |
| N R AGARWAL INDS LTD | 1,078 | 17.4 | 1.32 | — | 5.4 | 3.9 | — | 12.4 |
| TAMILNADU NEWSPRT & PAPER | 1,066 | 4.1 | 0.46 | — | 10.7 | 1.4 | — | 11.2 |
| PUDUMJEE PAPER PRO. LTD | 929 | 10.2 | 1.39 | — | 14.0 | 16.2 | — | 25.2 |
| EMAMI PAPER MILLS LIMITED | 712 | 7.6 | 1.24 | — | 10.7 | 8.1 | — | 14.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.7 | 15.3 | 30 of 39 | 24% |
| P/B | 1.3 | 0.8 | 26 of 34 | 24% |
| ROCE | 4.4 | 4.4 | 24 of 49 | 52% |
| ROE | 4.7 | 4.0 | 20 of 45 | 57% |
| Debt / Equity | 0.4 | 0.2 | 29 of 45 | 36% |
| EBITDA margin | 17.0 | 10.4 | 8 of 38 | 81% |
| Revenue growth | 12.7 | 11.5 | 18 of 39 | 55% |
| Profit growth | 59.5 | 60.9 | 22 of 42 | 49% |
| Market cap | 7513 | 88 | 1 of 46 | 100% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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