SUBAM PAPERS LIMITED

Manufactures Kraft paper and packaging products, with operations carried out through a group of six entities (two wholly-owned subsidiaries, two subsidiaries and two associate companies). A wholly-owned subsidiary, Subam Papers and Boards Private Limited, commenced commercial production at a new automated Kraft paper plant in Tirunelveli, Tamil Nadu, raising consolidated manufacturing capacity to 3,07,750 MTPA and Kraft paper capacity to 2,59,750 MTPA. The Kraft paper is produced in the 80–120 GSM range, aimed at the paper carry bag segment that benefits from single-use plastic bans, and a COGEN power plant under installation at the subsidiary is expected to lift power self-sufficiency from 55.6% to 93.75% once commissioned in June 2026. The group is also setting up a corrugated box unit through the same subsidiary and operates an 80%-owned LLP, Nellai Subam Packaging LLP. Revenue stood at ₹584.0877 crore in FY26 with an EBITDA margin of 7.86%, but net profit was only ₹10.782 crore and net profit ratio fell to 2.21% from 5.77%. Raw materials dominate the cost base at 80.5% of revenue, with capex at 19.4% reflecting the ongoing capacity build-out.