NSE: SHREYANIND · BSE: 516016
SHREYANS INDUSTRIES LTD
Manufactures paper and paper products, classified under Forest Materials / Paper & Paper Products. Revenue from operations stood at Rs 622.83 crore in FY26, essentially flat versus the prior year. Raw materials were the biggest cost at 49.1% of revenue, followed by other operating expenses at 36.3% of revenue, employee costs at 12.6%, and depreciation at 2.5%. Power and fuel expenses rose sharply year-on-year and were a key driver of a steep decline in profitability, with net profit after tax falling to Rs 6.47 crore and EBITDA margin compressing to 4.41%. Capex was 8.5% of revenue, indicating continued capital investment. Manufacturing operations are based at the registered office in Ludhiana, Punjab. The board has recommended a final dividend of Rs 1.50 per share for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Paper and paper products. Cyclical, asset-heavy paper manufacturing
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 584 | 866 | 699 | 617 | 623 |
| EBITDA (ex other income) | 11 | 107 | 98 | 70 | 16 |
| margin % | 1.8 | 12.3 | 14.0 | 11.3 | 2.6 |
| Owners' profit | 10 | 73 | 87 | 51 | 6 |
| EPS, as reported (₹) | 7.20 | 53.14 | 63.24 | 36.60 | 4.68 |
| ROE % · ROCE % | 4.3 · 6.3 | 24.3 · 28.7 | 22.8 · 27.6 | 11.9 · 14.8 | 1.5 · 2.4 |
| Debt / equity (x) | 0.26 | 0.13 | 0.08 | 0.10 | 0.14 |
| Cash from operations | 20 | 90 | 78 | 45 | 14 |
| Capex | (9) | (7) | (26) | (46) | (53) |
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 | 132 | 170 | 179 | 154 | 142 | 159 | 168 | 160 |
| Profit before tax | 12 | 13 | 24 | 22 | 1 | (4) | (12) | (3) |
| Net profit | 9 | 9 | 18 | 17 | 2 | (3) | (10) | (3) |
| EPS (₹) | 6.56 | 6.58 | 13.35 | 12.49 | 1.62 | (1.84) | (7.58) | (2.34) |
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 | 6,948 | 21.0 | 1.20 | 9.5 | 4.7 | 4.4 | 20.8 | 17.0 |
| WEST COAST PAPER MILLS LT | 5,368 | 23.4 | 1.28 | 10.7 | 3.7 | 5.0 | 13.8 | 23.6 |
| ANDHRA PAPER LIMITED | 1,295 | 46.8 | 0.67 | — | 1.0 | 1.2 | — | 17.9 |
| SESHASAYEE PAPER & BOARDS | 1,156 | 11.7 | 0.57 | 7.9 | 4.0 | 4.1 | 16.9 | 11.3 |
| N R AGARWAL INDS LTD | 1,144 | 18.4 | 1.40 | — | 5.4 | 3.9 | — | 12.4 |
| TAMILNADU NEWSPRT & PAPER | 890 | 3.4 | 0.38 | — | 10.7 | 1.4 | — | 11.2 |
| PUDUMJEE PAPER PRO. LTD | 810 | 8.9 | 1.21 | — | 14.0 | 16.2 | — | 25.2 |
| EMAMI PAPER MILLS LIMITED | 690 | 7.3 | 1.20 | — | 10.7 | 8.1 | — | 14.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.4 | 0.7 | 9 of 36 | 77% |
| ROCE | 1.6 | 4.4 | 31 of 45 | 32% |
| ROE | 1.5 | 4.0 | 26 of 37 | 31% |
| Debt / Equity | 0.1 | 0.4 | 14 of 37 | 64% |
| EBITDA margin | 1.0 | 10.4 | 33 of 38 | 14% |
| Revenue growth | 4.2 | 11.5 | 23 of 39 | 42% |
| Profit growth | (118.8) | 60.9 | 36 of 42 | 15% |
| Market cap | 184 | 56 | 18 of 48 | 64% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Quarterly Reg 74(5) compliance certificate submitted | compliance | minimal | — | — |
| 26 Sept 2026 · Trading Window Closed from Oct 1 Until Q2 Results Declaration | compliance | minimal | — | — |
| 14 Aug 2026 · AGM 2026: All 7 resolutions passed, Rs 1.50 dividend declared | compliance | low | — | — |
| 13 Aug 2026 · Shreyans Industries reports June 2026 quarter net loss of Rs 323.69 lakh | compliance | minimal | — | — |
| 12 Aug 2026 · Shreyans Industries 46th AGM: Rs 1.50 dividend declared, directors re-appointed | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Shreyans Industries Q1 FY27 swings to loss on rising costs | results | high | — | — |
| 30 Jul 2026 · Board meeting on Aug 12 to consider Q1 FY27 unaudited results | results | low | — | — |
| 21 Jul 2026 · Notice of 46th AGM, Book Closure and E-Voting Information | compliance | minimal | — | — |
| 18 Jul 2026 · Shreyans Industries fixes 5 August 2026 as record date for FY26 dividend | corporate actions | high | — | — |
| 18 Jul 2026 · Notice of 46th AGM on August 12, 2026 | 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.