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Pudumjee Paper Products Limited (PDMJEPAPER)

₹97.29 -0.70% last close, 16 Oct

📊 NSE: PDMJEPAPER 🏢 Paper 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Pudumjee Paper's revenue was ₹203 Cr (+3.3% year on year, +1.0% on the previous quarter), and net profit ₹33.7 Cr (-7.0% year on year); the operating margin was 17.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹203	+3.3%	+1.0%
Operating profit	₹35.6	+5.7%	+4.6%
Net profit	₹33.7	-7.0%	+68.6%
EPS (₹)	3.55	-7.1%	+70.7%
Operating margin	17.5%	—	—

Full quarterly financials → Results calendar →

PDMJEPAPER delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 25.57% of the PDMJEPAPER shares traded on NSE were taken to delivery, against the stock's own 20-session average of 34.99%. That is close to its usual level. Volume was 0.4 times its average, well below normal.

25.57%Delivery, 16 Oct

34.99%Own 20-session average

0.4×Volume vs its average

₹97.29NSE close · -0.70%

Delivery in the last 5 sessions: 7.7% · 35.5% · 15.5% · 17.0% · 25.6%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Pudumjee Paper to Sell Stake in MITCON Solar SPV for ₹2.40 Cr

🟡 NEUTRAL ⭐ 3/10

M&A 📅 07 Oct 2026, 05:48 PM

Pudumjee Paper Products Limited has entered into a Share Purchase Agreement on October 07, 2026, to sell 12,04,999 equity shares in MITCON Solar Alliance Limited to MITCON Sun Power Limited for ₹2.40 crore. MITCON Solar Alliance is an SPV operating a captive solar plant and is not a subsidiary or associate of Pudumjee Paper. The transaction consideration of ₹2.40 crore represents a negligible ~0.3% of the company's TTM revenue of ₹815 crore. The sale is scheduled to be completed within one month, after which Pudumjee Paper will cease to be a shareholder in the SPV.

Sale of 12,04,999 equity shares of MITCON Solar Alliance Limited
Total transaction consideration of ₹2,40,49,990 plus applicable taxes and charges
Target SPV FY26 financials: Total income of ₹679.26 Lakhs and total equity of ₹984.81 Lakhs
Disposal is slated for completion within one month from agreement date (October 07, 2026)

💡 Monitor the formal completion of the share transfer within the stated 30-day timeline; no major financial or operational impact is anticipated.

PDMJEPAPER Clarifies No Undisclosed Material Events Behind Recent Volume Spurt

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Sep 2026, 11:03 AM

Pudumjee Paper Products Limited replied to the National Stock Exchange regarding an observed spurt in trading volume. The company confirmed that there is no undisclosed material information or event impacting operations or financial performance. Management stated that all events requiring disclosure under Regulation 30 of SEBI LODR have been routinely intimated.

NSE issued a surveillance inquiry letter (NSE/CM/Surveillance/17491) on 07th September, 2026.
Company issued a clarification letter dated 08th September, 2026.
Company confirmed compliance under Regulation 30 of SEBI LODR with zero undisclosed material events.

💡 Track regular company filings and quarterly financial results, as the volume spurt is not driven by any official corporate disclosures.

Pudumjee Paper Shareholders Approve All 5 AGM Resolutions Including Dividend and Fixed Deposits

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Sep 2026, 10:22 AM

Pudumjee Paper Products Limited has submitted the scrutinizer's report and voting results for its 12th Annual General Meeting held on September 2, 2026. Shareholders approved all 5 resolutions, including the adoption of FY26 financial statements, declaration of dividend for FY26, and acceptance of fixed deposits from the public. Total voter turnout was 72.40% across 68,745,924 votes polled out of 94,950,000 total shares.

All 5 resolutions passed, with total votes polled representing 72.4022% of total share capital (68,745,924 votes).
Adoption of FY26 Audited Financial Statements and dividend declaration passed with 99.9967% approval.
Special resolution for acceptance of fixed deposits from the public was approved with 98.8607% votes in favour.
Re-appointment of Dr. Ashok Kumar as Director passed with 99.7548% votes in favour.

💡 Track the upcoming dispatch/credit of the FY26 dividend and monitor execution updates on the planned INR 1,350 Cr capacity expansion at Mahad.

Pudumjee Paper Products Concludes 12th AGM; Voting Results Awaited

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Sep 2026, 09:31 PM

Pudumjee Paper Products Limited conducted its 12th Annual General Meeting on September 2, 2026, via video conferencing. Key resolutions tabled included adoption of FY26 financial statements, declaration of dividend for FY26, reappointment of retiring director Dr. Ashok Kumar, and approval for acceptance of fixed deposits from the public. Voting results and scrutinizer reports are scheduled to be submitted within 48 hours of meeting conclusion.

12th Annual General Meeting held on September 2, 2026, via video conference
Resolutions included FY26 financial statement adoption and dividend declaration for FY26
Special resolution presented for seeking member consent to accept fixed deposits from the public
Remote e-voting concluded on September 1, 2026, with voting results to be submitted within 48 hours

💡 Track the upcoming exchange filing for formal voting results to confirm shareholder approval of resolutions, particularly the dividend declaration and public deposit acceptance.

25% EBITDA Margin: Pudumjee Paper Reports Q1 Turnover of Rs 203 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 11 Aug 2026, 01:31 PM

Pudumjee Paper Products reported a modest 3.6% YoY increase in turnover to Rs 203 Cr for the quarter ended June 30, 2026. However, EBITDA margins saw a contraction of 200 basis points, falling to 25% (Rs 51 Cr) from 27% (Rs 52 Cr) in the previous year's corresponding quarter. The company is currently seeking environmental clearance for its massive Rs 1,350 Cr Mahad expansion project. This planned investment is highly material, representing approximately 157% of the company's current market capitalization of Rs 859 Cr.

Turnover grew to Rs 203 Cr in Q1 FY27, up from Rs 196 Cr in Q1 FY26.
EBITDA margin contracted to 25% compared to 27% in the same period last year.
Absolute EBITDA decreased slightly to Rs 51 Cr from Rs 52 Cr YoY.
Application for Environmental Clearance is underway for the Rs 1,350 Cr Mahad greenfield project.
Specialty paper segment continues to focus on biodegradable and compostable barrier papers for food and pharma.

💡 Investors should monitor the timeline for obtaining Environmental Clearance for the Mahad project, as this is the primary catalyst for breaking current capacity constraints. Additionally, track if the company can maintain the 25% EBITDA margin, which remains significantly higher than its TTM OPM of 15.3%.

Rs 2.21 Cr investment in Saraswat Bank to meet regulatory share-linkage norms

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Aug 2026, 01:28 PM

Pudumjee Paper Products is subscribing to 22,14,900 additional equity shares of Saraswat Co-operative Bank for a cash consideration of Rs 2.21 Cr. This move is a regulatory requirement for borrower-members to maintain share-linkage (up to 2.5% of secured borrowings) relative to their credit facilities. The company currently has a credit exposure of approximately Rs 89 Cr with the bank. This investment is non-strategic, represents only 0.33% of the company's net worth, and will not result in any management or control changes.

Investment of Rs 2.21 Cr to acquire 22,14,900 equity shares at Rs 10 each.
Existing credit exposure to Saraswat Co-operative Bank stands at approximately Rs 89 Cr.
Total shareholding in the bank will increase from 2,500 to 22,17,400 equity shares.
Compliance with share-linkage norms allowing up to 2.5% of secured borrowings in equity.
Saraswat Bank reported a total income of Rs 5,064.53 Cr for the year ended March 31, 2025.

💡 Investors should treat this as a routine administrative requirement for maintaining banking facilities. Focus remains on the execution of the company's planned Rs 1,350 Cr capacity expansion at Mahad.

Q1 PAT at ₹33.72 Cr, Revenue up 3.3% YoY; EBITDA Margins Robust at 25.2%

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 11 Aug 2026, 01:25 PM

Pudumjee Paper Products reported a steady Q1 FY27 with operational revenue growing 3.3% YoY to ₹202.92 Cr. While Net Profit declined 6.9% YoY to ₹33.72 Cr due to a high base of 'Other Income' in the previous year, it showed a sharp 71% recovery on a sequential (QoQ) basis. EBITDA margins on operational revenue remained strong at 25.2%, significantly higher than the TTM OPM of 15.3%. The Paper segment continues to dominate, accounting for 92% of gross segment revenue.

Operational revenue increased to ₹202.92 Cr from ₹196.45 Cr in the same quarter last year.
Net Profit for the quarter stood at ₹33.72 Cr, representing a 71% jump from the preceding March 2026 quarter (₹19.72 Cr).
Other income contributed ₹15.61 Cr to the total revenue, though it was lower than the ₹18.58 Cr recorded in Q1 FY26.
Paper segment revenue grew to ₹195.06 Cr, while the Hygiene products segment contributed ₹16.18 Cr.
Finance costs increased to ₹1.56 Cr compared to ₹0.64 Cr in the year-ago period, reflecting higher interest obligations.

💡 Investors should monitor the execution timeline of the planned ₹1,350 Cr capacity expansion at Mahad, as the current Pune facility faces physical growth constraints.

Pudumjee Paper Schedules 12th AGM for Sept 2, 2026; Dispatches Annual Report Links

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Aug 2026, 04:52 PM

Pudumjee Paper Products Limited has scheduled its 12th Annual General Meeting (AGM) for September 2, 2026, at 3:00 PM IST via video conferencing. The company has dispatched physical letters to shareholders who have not registered their email addresses, providing them with the web-link to access the FY 2025-26 Annual Report. Additionally, the company is urging physical shareholders to update their PAN, KYC, and bank details with the Registrar, KFin Technologies, in compliance with SEBI circulars. This is a routine administrative filing necessary for regulatory compliance.

12th Annual General Meeting (AGM) scheduled for September 2, 2026, at 03:00 p.m. IST
Annual Report for the financial year 2025-2026 made available via digital web-link for physical shareholders
Compliance with SEBI Master Circular dated February 6, 2026, regarding KYC and nomination updates
Registrar and Transfer Agent identified as M/s. KFin Technologies Limited for all shareholder updates

💡 Investors should access the Annual Report via the provided link to review the company's FY26 performance and progress on the planned Rs 1,350 Cr Mahad expansion. Physical shareholders must ensure KYC details are updated to avoid potential restrictions on folio operations.

Pudumjee Paper to Hold AGM on Sept 2; Proposes Public Fixed Deposit Scheme

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 05 Aug 2026, 04:13 PM

Pudumjee Paper Products has scheduled its 12th Annual General Meeting (AGM) for September 2, 2026. Key agenda items include the declaration of a dividend for FY26 and a special resolution to invite unsecured fixed deposits from the public to meet working capital requirements. The company currently operates with a very low debt-to-equity ratio of 0.06 and a net worth of Rs 670 Cr. Shareholders on record as of August 24, 2026, will be eligible for the dividend, with payments starting from September 22, 2026.

12th Annual General Meeting scheduled for September 2, 2026, via Video Conferencing.
Dividend record date for electronic shares set for August 24, 2026.
Proposed special resolution to accept unsecured public deposits for working capital needs.
Cost auditor remuneration for the 'Paper' segment proposed at Rs. 2,75,000 for FY26.
Director Dr. Ashok Kumar, with over 40 years of industry experience, up for re-appointment.

💡 Investors should note the dividend record date of August 24, 2026, and monitor the interest rates offered on the proposed public deposit scheme as an indicator of the company's cost of working capital.

₹0.60 Dividend: Pudumjee Paper Sets August 24 as Record Date

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 27 Jul 2026, 01:24 PM

Pudumjee Paper Products has announced a final dividend of ₹0.60 per equity share (60% of face value) for the financial year. The record date for determining shareholder eligibility is fixed for August 24, 2026, with the payment scheduled to commence from September 22, 2026. At the current market price of ₹95.7, this represents a modest dividend yield of approximately 0.63%. The company continues to maintain a healthy balance sheet with a low debt-to-equity ratio of 0.06 and TTM PAT of ₹94 Cr.

Final dividend declared at ₹0.60 per equity share of face value ₹1 each
Record date for dividend entitlement is Monday, August 24, 2026
Dividend payment to commence on and from Tuesday, September 22, 2026
12th Annual General Meeting (AGM) scheduled for September 2, 2026
Book closure period set from August 25, 2026, to September 2, 2026

💡 Investors seeking the dividend must hold shares before the ex-dividend date (typically one business day before the August 24 record date). Monitor the upcoming AGM for updates on the ₹1,350 Cr Mahad expansion project.

₹0.60 Dividend: Pudumjee Paper Sets Aug 24 as Record Date for 12th AGM

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 27 Jul 2026, 01:21 PM

Pudumjee Paper Products has announced a final dividend of ₹0.60 per equity share (60% of face value) for the financial year. The company has fixed August 24, 2026, as the record date to determine shareholder eligibility. The dividend is subject to approval at the 12th Annual General Meeting (AGM) scheduled for September 2, 2026. Based on the current TTM EPS of ₹9.86, this represents a conservative payout ratio of approximately 6.1%.

Final dividend declared at ₹0.60 per equity share of face value ₹1 each.
Record date for dividend entitlement is Monday, August 24, 2026.
Dividend payment to commence on and from Tuesday, September 22, 2026, post-AGM approval.
12th Annual General Meeting (AGM) scheduled for September 2, 2026, via video conferencing.
Book closure period set from August 25, 2026, to September 2, 2026.

💡 Investors seeking the dividend should ensure they hold shares before the ex-dividend date (typically one business day before the August 24 record date). Monitor the AGM for updates on the ₹1,350 Cr Mahad expansion project.

₹ 0.60 Dividend: Pudumjee Paper Sets Aug 24 Record Date for 12th AGM and Payout

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 27 Jul 2026, 01:20 PM

Pudumjee Paper Products has scheduled its 12th Annual General Meeting (AGM) for September 2, 2026. The company has declared a final dividend of ₹ 0.60 per equity share (60% of face value) for FY26, with the record date fixed for August 24, 2026. This dividend represents a yield of approximately 0.63% based on the current market price of ₹ 95.7. Payment is expected to commence from September 22, 2026, following shareholder approval at the AGM.

Final dividend of ₹ 0.60 per equity share of face value ₹ 1/- announced
Record date for dividend entitlement fixed as Monday, August 24, 2026
12th Annual General Meeting scheduled for Wednesday, September 2, 2026
Dividend payment to commence on and from Tuesday, September 22, 2026
Book closure period set from August 25, 2026, to September 2, 2026

💡 Investors seeking the ₹ 0.60 dividend must hold shares before the August 24 record date. Monitor the AGM proceedings for updates on the massive ₹ 1,350 Cr Mahad capacity expansion project.

Pudumjee Paper Products Submits Q1 FY27 Share Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 13 Jul 2026, 10:25 AM

Pudumjee Paper Products Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by KFin Technologies Limited (the Registrar and Share Transfer Agent), covers the quarter ended June 30, 2026. This is a routine administrative filing confirming that share certificates received for dematerialization were processed and the names of the depositories were updated in the company's records. There are no financial implications or operational updates contained in this filing.

Compliance certificate issued for the quarter ended June 30, 2026
Certificate received from Registrar and Share Transfer Agent, KFin Technologies Limited, dated July 10, 2026
Filing submitted to NSE and BSE on July 13, 2026
Confirms adherence to SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required as this is a routine procedural filing. Investors should monitor the company's upcoming quarterly financial results for material performance updates.

Pudumjee Paper Shareholders Approve New Director and MoA Alteration with 99.99% Majority

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 11 Jul 2026, 06:57 PM

Pudumjee Paper Products Limited has successfully passed two special resolutions via postal ballot as of July 11, 2026. Shareholders approved the appointment of Mr. Anil Shankarlal Mittal as a Non-Executive Independent Director and authorized the alteration of Clause 3(b) of the Memorandum of Association (MoA). The voting saw a 72.43% turnout of total shares, with both resolutions receiving near-unanimous support (over 99.99% in favor).

99.99% of valid votes (6.87 crore shares) cast in favor of appointing Mr. Anil Shankarlal Mittal as Independent Director
99.99% approval for altering Clause 3(b) of the Memorandum of Association to further the company's main objects
Total voter turnout reached 72.43% of the 9.49 crore total outstanding shares
Record date for the voting process was June 05, 2026, involving 49,711 shareholders
Voting period concluded on July 11, 2026, with results declared the same day

💡 Investors should treat this as a routine administrative update. The MoA alteration is a standard legal step to support business operations; watch for future filings regarding the execution of the planned Rs 1,350 Cr Mahad expansion.

99.99% Shareholder Approval for MoA Alteration and New Independent Director Appointment

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 11 Jul 2026, 06:56 PM

Pudumjee Paper Products Limited has successfully passed two special resolutions via postal ballot with near-unanimous approval (99.99%). Shareholders approved the appointment of Mr. Anil Shankarlal Mittal as a Non-Executive Independent Director and an alteration to the Memorandum of Association (MoA) to include matters necessary for the furtherance of the company's main objects. Total voter turnout was 72.43%, primarily driven by 100% participation from the promoter group, while public non-institutional participation remained low at 0.21%.

99.996% of votes cast in favor of both special resolutions by 150 members.
72.43% total voter turnout with 6,87,75,646 shares voted out of 9,49,50,000 total shares.
100% promoter participation recorded with 6,79,40,100 shares voting in favor.
Public non-institutional participation was minimal at 0.2088% of their total holding.
The MoA alteration (Clause 3b) was approved to support activities necessary for the company's main business objects.

💡 Investors should monitor if the MoA alteration is a precursor to the execution of the company's planned Rs 1,350 Cr capacity expansion at Mahad.

View All PDMJEPAPER Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew by 3.07% YoY to INR 809.08 Cr in FY25 from INR 784.96 Cr in FY24. The Hygiene Products division grew 6.32% YoY, reaching INR 57.84 Cr compared to INR 54.40 Cr in the previous year.

Geographic Revenue Split

Not disclosed in available documents, though the company maintains a 30-40% share in various sub-segments of the domestic speciality paper industry.

Profitability Margins

Operating margins remained healthy between 15.47% and 17.35% over the last two fiscals. Net Profit Before Tax stood at INR 128.72 Cr in FY25, a slight decrease from INR 131.65 Cr in FY24.

EBITDA Margin

EBITDA margin was 17.9% (INR 145.04 Cr) in FY25, compared to 19.0% (INR 149.42 Cr) in FY24. The slight compression is attributed to the cyclical nature of the industry and raw material price volatility.

Capital Expenditure

The company has planned a large capital expenditure of INR 1,350 Cr over the next five years to add speciality paper manufacturing capacity at Mahad. Historical capex includes recent investments in boilers, solar power, and headbox upgrades.

Credit Rating & Borrowing

Long-term rating is CRISIL A/Positive and short-term rating is CRISIL A1. Borrowing costs are low as evidenced by an interest coverage ratio of 41.10 times in FY25, improved from 26.28 times in FY24 due to loan repayments.

⚙️ Operational Drivers

Raw Materials

Imported wood pulp and wastepaper are the primary raw materials, accounting for approximately 60% of the total cost of sales.

Import Sources

Raw materials are sourced from international markets (imported wood pulp) and domestic channels (wastepaper).

Capacity Expansion

Current operations are based in Pune on leased land. Planned expansion at Mahad involves an investment of INR 1,350 Cr over 5 years to overcome site limitations at the current Pune facility.

Raw Material Costs

Raw material costs represent 60% of revenue. The company uses a pass-through mechanism with a time lag and moderate inventory levels to mitigate the impact of highly volatile global pulp prices.

Manufacturing Efficiency

Return on Capital Employed (ROCE) was 29% in FY24. Volumetric sales growth of 10% in FY24 was driven by improved capacity utilization.

Logistics & Distribution

The company utilizes a network of distributors and direct consumers to reach a large clientele, though specific distribution costs as a % of revenue are not disclosed.

📈 Strategic Growth

Expected Growth Rate

10%

Growth Strategy

Growth will be driven by a massive INR 1,350 Cr capacity expansion at Mahad over 5 years. The strategy focuses on the speciality paper segment where the company holds a 30-40% market share, emphasizing customized products (glassine, greaseproof) to maintain high margins and differentiate from commodity paper players.

Products & Services

Speciality paper products including glassine, opaque laminating base, kraft paper, tissue, greaseproof paper, crepe tissue, machine glazed poster paper, printing paper, and hygiene products.

Brand Portfolio

Pudumjee, Pudumjee Hygiene.

New Products/Services

Customized speciality paper grades for specific industrial applications; expected to sustain operating margins between 11.5% and 17.0%.

Market Expansion

Expansion into the Mahad region to bypass physical growth constraints at the current Pune site, targeting increased domestic and potentially export volumes.

Market Share & Ranking

Holds a 30-40% market share in various sub-segments of the domestic speciality paper industry.

Strategic Alliances

The company operates on land and buildings leased from AMJ Land Holdings Ltd and 3P Land Holdings Ltd under leave and license agreements.

🌍 External Factors

Industry Trends

The industry is characterized by cyclicality and intense competition. There is a shift toward organized players enhancing capacities and a steady demand for speciality grades like hygiene and tissue paper.

Competitive Landscape

Competes with large domestic players in writing, printing, and hygiene segments, as well as significant pressure from international imports.

Competitive Moat

Durable advantages include a 30-40% market share in speciality niches, five decades of promoter experience, and deep customization capabilities that act as a barrier to entry for commodity manufacturers.

Macro Economic Sensitivity

Sensitive to global pulp price cycles and domestic GDP growth; the Indian government's INR 11.21 lakh Cr infrastructure capex is expected to indirectly support industrial paper demand.

Consumer Behavior

Increasing demand for hygiene products and specialized packaging (glassine/greaseproof) is driving volumetric growth.

Geopolitical Risks

Vulnerability to global trade dynamics as imports account for 50-60% of the domestic speciality paper market, creating a ceiling on domestic pricing.

⚖️ Regulatory & Governance

Industry Regulations

Subject to standard manufacturing and pollution norms; the company monitors risks through a Board-adopted Risk Management Policy.

Environmental Compliance

The company is investing in solar power and efficient boilers to meet internal sustainability goals and likely regulatory standards, though specific ESG costs are not listed.

Taxation Policy Impact

Not specifically disclosed, but the company maintains a healthy financial profile with steady accretion to reserves.

Legal Contingencies

The company was fined INR 88,000 plus GST by both BSE and NSE (total INR 176,000+) in March 2025 for non-compliance with Regulation 17(1A) regarding the appointment of a director over 75 years of age.