BSE: 530169
MOHIT PAPER MILLS LTD.
Makes paper and paper products as its main business, with a small soda ash segment also reported separately. The company is listed on BSE and classified under paper and paper products. In FY26, revenue from operations was ₹200.18 crore, growing 11.08% year-on-year. Based on the latest available segment breakdown (period ending December 2018), paper accounted for 99.1% of segment revenue (₹114.00 crore) while soda ash contributed 0.9% (₹1.08 crore). The biggest cost items in FY26 were other operating expenses at 49.7% of revenue (₹99.39 crore) and raw materials at 32.1% (₹64.30 crore). Employee costs were 6.0% of revenue (₹12.06 crore) and depreciation 4.1% (₹8.19 crore). A fire on November 13, 2025 damaged fixed assets worth ₹2,480 lakhs. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Paper (99%), Soda Ash (1%). Asset-heavy paper manufacturer with elevated fixed-cost base
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 141 | 222 | 186 | 180 | 200 |
| EBITDA (ex other income) | 8 | 12 | 12 | 18 | 23 |
| margin % | 5.8 | 5.4 | 6.7 | 10.0 | 11.6 |
| Owners' profit | 2 | 5 | 6 | 7 | 7 |
| EPS, as reported (₹) | 1.40 | 3.51 | 4.61 | 4.65 | 4.74 |
| ROE % · ROCE % | 5.9 · 7.1 | 12.9 · 12.1 | 14.5 · 11.6 | 12.7 · 14.6 | 11.5 · 16.5 |
| Debt / equity (x) | 1.11 | 1.17 | 1.72 | 1.56 | 1.28 |
| Cash from operations | (13) | 9 | 8 | 13 | 11 |
| Capex | (3) | (14) | (19) | (7) | (3) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34 | 45 | 52 | 53 | 43 | 44 | 60 | 63 |
| Profit before tax | 2 | 3 | 2 | 2 | 2 | 2 | 3 | 2 |
| Net profit | 2 | 3 | 0 | 1 | 2 | 3 | 1 | 1 |
| EPS (₹) | 1.50 | 1.84 | 0.16 | 1.00 | 1.57 | 1.91 | 0.52 | 0.87 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JK PAPER LIMITED | 6,799 | 20.5 | 1.17 | 9.4 | 4.7 | 4.4 | 20.8 | 17.0 |
| WEST COAST PAPER MILLS LT | 5,402 | 23.5 | 1.29 | 10.8 | 3.7 | 5.0 | 13.8 | 23.6 |
| ANDHRA PAPER LIMITED | 1,309 | 47.4 | 0.68 | — | 1.0 | 1.2 | — | 17.9 |
| SESHASAYEE PAPER & BOARDS | 1,210 | 12.2 | 0.59 | 8.3 | 4.0 | 4.1 | 16.9 | 11.3 |
| N R AGARWAL INDS LTD | 1,156 | 18.6 | 1.42 | — | 5.4 | 3.9 | — | 12.4 |
| TAMILNADU NEWSPRT & PAPER | 886 | 3.4 | 0.38 | — | 10.7 | 1.4 | — | 11.2 |
| PUDUMJEE PAPER PRO. LTD | 822 | 9.0 | 1.23 | — | 14.0 | 16.2 | — | 25.2 |
| EMAMI PAPER MILLS LIMITED | 696 | 7.4 | 1.21 | — | 10.7 | 8.1 | — | 14.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.0 | 13.8 | 6 of 36 | 86% |
| P/B | 0.6 | 0.7 | 14 of 36 | 60% |
| ROCE | 9.8 | 4.4 | 10 of 45 | 80% |
| ROE | 11.5 | 4.0 | 5 of 37 | 89% |
| Debt / Equity | 1.3 | 0.4 | 33 of 37 | 11% |
| EBITDA margin | 9.0 | 10.4 | 21 of 38 | 46% |
| Revenue growth | 18.1 | 11.5 | 15 of 39 | 63% |
| Profit growth | (12.3) | 60.9 | 31 of 42 | 27% |
| Market cap | 34 | 55 | 30 of 48 | 38% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · RTA confirmation certificate for quarter ending September 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · 34th AGM voting results: all 6 resolutions passed with over 98 percent majority | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Mohit Paper Mills 34th AGM: 6 resolutions passed, new auditor appointed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed for Q2 and H1 FY27 results at Mohit Paper Mills | compliance | minimal | — | — |
| 11 Sept 2026 · Letters sent to shareholders for accessing Annual Report FY 2025-26 | compliance | minimal | — | — |
| 6 Sept 2026 · Mohit Paper Mills: Newspaper notice of 34th AGM on September 29, 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · Annual Report FY26 and 34th AGM Notice filed with BSE | results | high | — | — |
| 5 Sept 2026 · 34th AGM notice filed; meeting on Sep 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Newspaper ad published for 34th AGM notice and e-voting info | compliance | minimal | — | — |
| 24 Aug 2026 · Mohit Paper Mills 34th AGM on September 29, 2026 via video conferencing | board shareholder meetings | low | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.