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Star Paper Mills Limited (STARPAPER)

₹166.49 +0.13% last close, 16 Oct

📊 NSE: STARPAPER 🏢 Paper 📢 Latest filing: 11 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Star Paper's revenue was ₹103 Cr (+2.3% year on year, -8.1% on the previous quarter), and net profit ₹11.0 Cr (-14.1% year on year); the operating margin was 2.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹103	+2.3%	-8.1%
Operating profit	₹2.8	-55.5%	-37.4%
Net profit	₹11.0	-14.1%	from loss
EPS (₹)	7.05	-14.1%	from loss
Operating margin	2.7%	—	—

Full quarterly financials → Results calendar →

STARPAPER delivery percentage

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

On Fri, 16 Oct 2026, 57.57% of the STARPAPER shares traded on NSE were taken to delivery, against the stock's own 20-session average of 69.96%. That is lower than usual for this stock. Turnover was only ₹30 lakh, so a handful of trades can move this figure.

57.57%Delivery, 16 Oct

69.96%Own 20-session average

0.8×Volume vs its average

₹166.49NSE close · +0.13%

Delivery in the last 5 sessions: 47.8% · 80.6% · 53.5% · 54.9% · 57.6%

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

Star Paper Mills Secures ₹50 Cr Working Capital Facilities From UCO Bank

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 11 Sep 2026, 10:42 AM

Star Paper Mills has executed an agreement on September 10, 2026, to avail working capital loan facilities aggregating up to ₹50 Crores from UCO Bank. The arrangement comprises ₹40 Crores of fund-based limits and ₹10 Crores of non-fund based facilities. The loan amount is yet to be disbursed and is secured by charges over current and fixed assets. Given the company's existing low debt of ₹4 Cr against a net worth of ₹709 Cr, this agreement provides liquidity buffer for operational requirements.

Total working capital facility of ₹50 Crores secured from UCO Bank
Facility split into ₹40 Crores fund-based and ₹10 Crores non-fund-based limits
Agreement executed on September 10, 2026; disbursement pending
Secured via charge over current and fixed assets by hypothecation and mortgage

💡 Track subsequent quarterly interest costs and debt levels to see the actual utilization rate of the ₹40 Cr fund-based credit facility.

Star Paper Mills fixes Sep 17, 2026 record date for Rs 2.50/share dividend; 87th AGM on Sep 24

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 31 Aug 2026, 05:12 PM

Star Paper Mills has dispatched its Annual Report for FY 2025-26 and issued the notice for its 87th Annual General Meeting scheduled for September 24, 2026. The company has recommended a dividend of Rs 2.50 per equity share (25% on face value) for FY26, subject to shareholder approval. The record date to determine shareholder eligibility for the dividend has been set as September 17, 2026. In FY26, the company generated net cash from operating activities of Rs 2,909.36 lakh compared to Rs 1,483.86 lakh in FY25.

87th AGM scheduled to be held on Thursday, 24th September 2026 via VC/OAVM
Dividend recommended at Rs 2.50 per equity share (25%) for FY 2025-26
Record date for dividend entitlement fixed as 17th September 2026
FY26 operating cash flow stood at Rs 2,909.36 lakh (vs Rs 1,483.86 lakh in FY25)
Net profit before tax for FY26 reported at Rs 3,422.77 lakh (vs Rs 5,344.31 lakh in FY25)

💡 Investors seeking dividend eligibility must hold shares before the cut-off/record date of September 17, 2026; track AGM voting outcomes post September 24, 2026.

Rs 2.50 Dividend: Star Paper Mills Sets Sep 17 as Record Date for 87th AGM

🟢 POSITIVE ⭐ 5/10

DIVIDEND 📅 12 Aug 2026, 05:30 PM

Star Paper Mills has announced its 87th Annual General Meeting (AGM) for September 24, 2026. The Board has recommended a dividend of Rs 2.50 per equity share (25%) for the financial year 2025-26, pending shareholder approval. The record date to determine eligibility for this dividend and for e-voting is fixed as September 17, 2026. The company maintains a strong balance sheet with a net worth of Rs 709 Cr and minimal debt of Rs 4 Cr.

Dividend of Rs 2.50 per equity share (25%) recommended for FY 2025-26
Record date for dividend eligibility fixed as September 17, 2026
87th Annual General Meeting scheduled for September 24, 2026, via video conferencing
E-voting period to run from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)

💡 Investors interested in the dividend must hold shares by the record date of September 17, 2026. Monitor the AGM for updates on the company's planned capital expenditure program and capacity expansion targets.

Rs 2.50 Dividend: Star Paper Mills Sets September 17, 2026 as Record Date

🟢 POSITIVE ⭐ 5/10

DIVIDEND 📅 12 Aug 2026, 05:27 PM

Star Paper Mills has announced a dividend of Rs 2.50 per equity share (25%) for the financial year 2025-26. The company has fixed September 17, 2026, as the record date for determining shareholder eligibility for the payout. The 87th Annual General Meeting (AGM) is scheduled for September 24, 2026. This distribution is supported by the company's strong financial position, featuring a net worth of Rs 709 Cr and minimal debt of Rs 4 Cr.

Dividend of Rs 2.50 per equity share (25%) recommended for FY 2025-26.
Record date for dividend eligibility and e-voting cut-off fixed as September 17, 2026.
87th Annual General Meeting (AGM) to be held on September 24, 2026, via video conferencing.
E-voting period scheduled from September 21, 2026 (09:00 AM) to September 23, 2026 (05:00 PM).

💡 Investors seeking the dividend should ensure they hold the shares before the ex-dividend date. Monitor the upcoming AGM for updates on the company's planned capital expenditure program and strategy to mitigate raw material price volatility.

₹11.01 Cr PAT in Q1 FY27; Revenue Grows 2.3% YoY to ₹103.46 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 04:10 PM

Star Paper Mills reported a marginal revenue growth of 2.3% YoY, reaching ₹103.46 Cr for the quarter ended June 30, 2026. Net profit declined by 10.6% YoY to ₹11.01 Cr, down from ₹12.31 Cr in the previous year's corresponding quarter. The bottom line was significantly supported by 'Other Income' of ₹13.94 Cr, which includes a ₹9.47 Cr unrealized gain on mutual fund investments. Operating performance faced pressure as material costs rose 11% YoY, outstripping revenue growth.

Revenue from operations increased slightly to ₹103.46 Cr from ₹101.16 Cr in Q1 FY26.
Net profit stood at ₹11.01 Cr, representing a 10.6% decline compared to ₹12.31 Cr in the same period last year.
Cost of materials consumed rose to ₹56.07 Cr, up 11% from ₹50.53 Cr YoY, indicating margin pressure.
Other income contributed ₹13.94 Cr, accounting for nearly 12% of the total income for the quarter.
The company reported an EPS of ₹7.05 for the quarter, down from ₹8.21 in Q1 FY26.

💡 Investors should monitor the volatility in global wastepaper and pulp prices, as rising material costs are currently impacting operating margins. The reliance on non-operating income (mutual fund gains) to support profitability is a key factor to watch in upcoming quarters.

Star Paper Mills Files Routine Q1 FY27 Share Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Jul 2026, 10:27 AM

Star Paper Mills Limited has submitted its quarterly compliance certificate for the period ended June 30, 2026, as required under SEBI Regulation 74(5). The filing confirms that the company's Registrar and Share Transfer Agent (RTA), KFin Technologies Limited, has processed all dematerialization and rematerialization requests and updated the stock exchanges accordingly. This is a standard administrative procedure for all listed companies to ensure the integrity of electronic shareholding records. There is no impact on the company's financial performance or business operations.

Compliance certificate for the quarter ended June 30, 2026
Registrar and Share Transfer Agent (RTA) confirmed as KFin Technologies Limited
Filing adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Company maintains a low debt profile of Rs 4 Cr against a net worth of Rs 709 Cr

💡 No action is required as this is a routine regulatory filing. Investors should focus on upcoming quarterly financial results to assess the impact of global wastepaper prices on margins.

Star Paper Mills Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jun 2026, 05:07 PM

Star Paper Mills Limited has notified the exchanges that its trading window for dealing in company shares will be closed starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results for the quarter ending June 30, 2026. The restriction applies to Directors, Key Managerial Personnel (KMPs), and Designated Persons. The window will reopen 48 hours after the financial results are publicly declared.

Trading window closure commences on July 1, 2026.
Closure is related to the declaration of financial results for the quarter ending June 30, 2026.
Applies to all Directors, KMPs, and Designated Persons of the company.
Trading restriction ends 48 hours after the official announcement of the quarterly results.
Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory compliance filing. Investors should await the announcement of the specific date for the Q1 financial results.

Star Paper Mills Issues IEPF Transfer Notice for Unclaimed Dividends (FY 2018-19 to 2024-25)

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Jun 2026, 12:48 PM

Star Paper Mills Limited has issued a formal reminder to shareholders who have not claimed their dividends for seven consecutive years, specifically from FY 2018-19 to FY 2024-25. In accordance with Section 124(6) of the Companies Act, 2013, both the unclaimed dividend amounts and the underlying equity shares are liable to be transferred to the Investor Education and Protection Fund (IEPF). Shareholders have until September 25, 2026, to submit their claims to the company's Registrar, KFin Technologies Limited. This is a standard regulatory procedure to ensure that long-unclaimed assets are moved to the government-managed fund.

Dividends remaining unclaimed for 7 consecutive years (FY 2018-19 to 2024-25) are subject to IEPF transfer.
The deadline for shareholders to take action and prevent the transfer of shares is September 25, 2026.
Shareholders must update PAN, KYC, and bank details with KFin Technologies Limited to process claims.
Physical shareholders are urged to dematerialize their holdings as per SEBI guidelines for smoother processing.

💡 Investors should verify their dividend records from 2018 onwards and ensure their current bank account and KYC details are updated with the RTA to avoid the transfer of shares to the IEPF.

Star Paper Mills Reports Zero Borrowings, Not Classified as Large Corporate for FY26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 09 Apr 2026, 01:02 PM

Star Paper Mills Limited has officially notified the exchanges that it does not meet the criteria to be classified as a 'Large Corporate' for the financial year ended March 31, 2026. This classification is based on SEBI's framework regarding fund raising through debt securities. Crucially, the company disclosed that it had zero borrowings as of March 31, 2026. Consequently, the mandatory disclosure and debt-raising requirements under the SEBI circular are not applicable to the company.

Company confirmed non-applicability of SEBI Large Corporate framework for the year ended March 31, 2026.
Reported zero total borrowings as of the fiscal year-end March 31, 2026.
Exempt from the requirement to raise 25% of incremental borrowings through debt securities.
The filing serves as a routine annual compliance disclosure under SEBI/HO/DDHS/CIR/P/2018/144.

💡 This is a routine regulatory filing that confirms the company's debt-free status. Investors should maintain their current positions as this update does not signal any change in business fundamentals.

Star Paper Mills Q3 FY26: Net Profit at ₹8.22 Cr Driven by Other Income; Revenue Down 5.8% YoY

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 06:41 PM

Star Paper Mills reported a mixed Q3 FY26 with Net Profit rising 6.6% YoY to ₹8.22 crore, despite a 5.8% decline in revenue from operations to ₹91.82 crore. The profitability was heavily supported by a significant spike in 'Other Income' which reached ₹11.80 crore, offsetting an operational loss as total expenses (₹93.05 crore) exceeded revenue. Sequentially, net profit saw a sharp decline of 36.9% from ₹13.02 crore in Q2 FY26. For the nine-month period ended Dec 2025, net profit stands at ₹34.03 crore compared to ₹36.13 crore in the previous year.

Revenue from operations fell 5.8% YoY to ₹91.82 crore from ₹97.48 crore in Q3 FY25.
Net Profit for the quarter stood at ₹8.22 crore, up from ₹7.71 crore YoY but down from ₹13.02 crore QoQ.
Other Income surged to ₹11.80 crore, which was the primary driver of the ₹10.57 crore Profit Before Tax.
Raw material costs remained the largest expense at ₹58.27 crore, while power and fuel costs stood at ₹15.34 crore.
Basic EPS for the quarter was ₹5.26, compared to ₹4.94 in the corresponding quarter of the previous year.

💡 Investors should be cautious as the company's core operations were loss-making this quarter, with profitability entirely dependent on non-operating income. Monitor the sustainability of revenue growth and raw material cost trends in the upcoming quarters before making new positions.

Star Paper Mills Reports Nil Re-lodgement Requests for Physical Share Transfers

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 02:50 PM

Star Paper Mills Limited has submitted a compliance report regarding the re-lodgement of transfer requests for physical shares as per SEBI guidelines. For the six-month period between July 7, 2025, and January 6, 2026, the company's Registrar and Share Transfer Agent, KFin Technologies, reported zero requests. This update follows a specific SEBI circular aimed at addressing legacy physical share transfer issues. The report indicates no activity in this specific administrative window, reflecting a lack of pending physical share claims for this period.

Zero (NIL) requests received for the re-lodgement of physical share transfers during the reporting period.
The report covers the specific window from July 7, 2025, to January 6, 2026.
Filing is in compliance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025.
The status was officially confirmed by the company's RTA, KFin Technologies Limited.

💡 No action is required from investors as this is a routine administrative disclosure with no impact on the company's business operations or financial health.

Star Paper Mills Submits SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Jan 2026, 12:29 PM

Star Paper Mills Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended December 31, 2025. The certificate, issued by the Registrar and Share Transfer Agent (RTA) KFin Technologies, confirms that all dematerialization requests were processed within the mandated 15-day period. It further verifies that physical share certificates were mutilated and cancelled after due verification and the depositories' names were updated in the register of members. This is a standard procedural filing to ensure the integrity of electronic shareholding records.

Compliance certificate issued for the quarter ended December 31, 2025.
RTA KFin Technologies confirmed processing of demat requests within the 15-day statutory limit.
Confirmation provided that dematerialized securities are listed on both NSE and BSE.
Physical certificates were mutilated and cancelled following regulatory guidelines for dematerialization.

💡 No action is required as this is a routine administrative filing. Investors should continue to monitor the company's operational performance and upcoming quarterly financial results.

View All STARPAPER Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment of Paper, Paper Board, and related products. Revenue for FY24 was INR 447.78 Cr, representing a 9.12% decline from INR 492.69 Cr in FY23. 9MFY25 revenue stood at INR 322.25 Cr, down 6.33% from INR 344.04 Cr in 9MFY24.

Geographic Revenue Split

Not disclosed in available documents; however, the company operates an integrated mill in Saharanpur, U.P., and is based in West Bengal.

Profitability Margins

Operating margins fell to 13.49% in FY24 from 16.40% in FY23 due to higher raw material costs. Despite this, PAT margins improved to 14.29% in FY24 from 13.33% in FY23, likely aided by non-operating income or tax adjustments.

EBITDA Margin

EBITDA margin for 9MFY25 was 8.27% (INR 26.65 Cr), a significant contraction of 622 bps from 14.49% (INR 49.87 Cr) in 9MFY24. FY23 EBITDA margin was 16.40%, up from 9.68% in FY22.

Capital Expenditure

The company is planning capital expenditure that has not yet been finalized. In H1FY25, the company spent INR 3.19 Cr on the purchase of Property, Plant, and Equipment including CWIP.

Credit Rating & Borrowing

Acuité reaffirmed the long-term rating of 'ACUITE A+' with a 'Stable' outlook in February 2025. The company maintains a healthy financial risk profile with an Interest Coverage Ratio (ICR) of 104.09 times for FY24.

⚙️ Operational Drivers

Raw Materials

Wastepaper and pulp are the primary raw materials, which have seen rising global prices in FY24 and FY25, impacting core margins.

Import Sources

Sourced from the global market; specific countries are not disclosed.

Capacity Expansion

The company operates an integrated Pulp and Paper Mill in Saharanpur, U.P. Planned expansion is under consideration but specific capacity targets and timelines are not yet finalized.

Raw Material Costs

Raw material costs have increased significantly, leading to a decline in operating margins from 16.40% in FY23 to 13.49% in FY24. The company previously achieved a 32% growth in price realization in FY23 to offset costs.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

Growth is expected to be achieved through a planned capital expenditure program and by maintaining its steady business risk profile in its core segments of Industrial, Packaging, and Cultural papers.

Products & Services

Industrial Papers, Packaging Papers, and Cultural Papers.

Brand Portfolio

Star Paper Mills.

🌍 External Factors

Industry Trends

The paper industry is currently facing margin pressure due to rising input costs and high competition, following a period of high profitability in FY23.

Competitive Landscape

Operates in a highly competitive industry with numerous players in the industrial and packaging paper segments.

Competitive Moat

The company's moat is based on its 30-year promoter experience and its integrated manufacturing facility in Saharanpur, which provides a cost advantage over non-integrated competitors.

Macro Economic Sensitivity

Highly sensitive to global pulp and wastepaper price cycles and competitive intensity in the domestic paper industry.

Geopolitical Risks

Global trade dynamics affecting the availability and pricing of imported wastepaper.

⚖️ Regulatory & Governance

Industry Regulations

Subject to pollution control norms and manufacturing standards applicable to integrated pulp and paper mills.

Legal Contingencies

The company has pending litigations related to direct and indirect taxes and various other claims. Provisions and contingent liabilities are monitored as a Key Audit Matter.