Manufactures paper and paper products, but manufacturing operations have been suspended since Q1 FY26 and the company is under Corporate Insolvency Resolution Process since an NCLT Allahabad order dated June 7, 2024, following a petition by Amar Ujala Limited. Revenue in FY26 was Rs 125.85 lakhs, down 81% from Rs 665.13 lakhs in FY25, and comes only from sale of scrap and raw materials. In the last full year of manufacturing (FY24), revenue was Rs 56.6984 crore, with materials cost at 105.7% of revenue and employee cost at 14%. The Board of Directors' powers are suspended and an Insolvency Resolution Professional (Sandeep Kumar Agrawal) is managing the company. Two resolution applicants submitted plans, and the Poddar Global Private Limited plan was approved by the Committee of Creditors with 99.38% voting share and now awaits NCLT approval. The statutory auditor flagged going-concern uncertainty, citing negative net worth of Rs 5,115.48 lakhs, accumulated losses of Rs 7,249.26 lakhs, and current liabilities exceeding total assets by Rs 3,512.05 lakhs. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Sale of paper and paper products, Sale of scrap and raw materials. Distressed paper manufacturer under insolvency resolution with suspended manufacturing
| ₹ crore · consolidated | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| Revenue | 123 | 92 | 79 | 77 | 57 |
| EBITDA (ex other income) | 6 | 4 | 1 | (5) | (18) |
| margin % | 5.1 | 4.2 | 0.7 | (6.0) | (30.9) |
| Owners' profit | 2 | (3) | 3 | (6) | (19) |
| EPS, as reported (₹) | 2.08 | (3.42) | 2.72 | (11.77) | (26.94) |
| ROE % · ROCE % | 29.3 · 24.7 | (92.8) · 0.8 | 42.5 · 14.7 | (667.2) · (60.9) | 104.9 · 135.9 |
| Debt / equity (x) | 2.71 | 14.54 | 3.51 | 40.93 | (2.49) |
| Cash from operations | — | (17) | 17 | (9) | (10) |
| Capex | — | (3) | (4) | (5) | (4) |
| ₹ crore | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19 | 32 | 20 | 18 | 3 | 16 | 4 | 0 |
| Profit before tax | 0 | 6 | 0 | (8) | (5) | (6) | (4) | (2) |
| Net profit | 0 | 6 | 0 | (8) | (5) | (6) | (4) | (2) |
| EPS (₹) | 0.28 | 6.71 | (1.10) | (8.49) | (5.44) | (13.43) | (4.15) | 1.68 |
| 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 | 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Raama Paper Mills submits FY26 Annual Report; AGM on Sept 30 | compliance | medium | — | — |
| 8 Sept 2026 · Book Closure and Annual Report Submission for FY 2025-26 | corporate actions | low | — | — |
| 8 Sept 2026 · 41st Annual Report FY2025-26 submitted; AGM on 30 Sept 2026 | board shareholder meetings | medium | — | — |
| 18 Jul 2026 · Raama Paper Mills posts FY26 loss, auditor flags going concern | results | high | — | — |
| 11 Jul 2026 · Board meeting on 18 July to consider audited FY26 results | results | low | — | — |
| 30 Jun 2026 · Rama Paper Mills: Trading Window Closure Intimation | compliance | minimal | — | — |
| 25 May 2026 · Rama Paper Mills Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2026 ,inter alia, to consider and approve Audited Financial Results .... | results | low | — | — |
| 2 May 2026 · Approval of Resolution Plan of M/s Poddar Global Private Limited by the Committee of Creditors (CoC). | regulatory legal | high | — | — |
| 15 Apr 2026 · Routine SEBI Reg 74(5) compliance certificate for Q4 FY26 | compliance | minimal | — | — |
| 3 Apr 2026 · List of Resolution Applicants | regulatory legal | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 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 |
|---|---|---|---|---|
| ROCE | 158.7 | 4.4 | 2 of 49 | 98% |
| ROE | 104.9 | 4.0 | 2 of 45 | 98% |
| Debt / Equity | (2.5) | 0.2 | 2 of 45 | 98% |
| EBITDA margin | (2054.6) | 10.4 | 38 of 38 | 0% |
| Revenue growth | (99.8) | 11.5 | 38 of 39 | 3% |
| Profit growth | 80.2 | 60.9 | 19 of 42 | 56% |
| Market cap | 15 | 88 | 39 of 46 | 16% |
| 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 |
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