Sundaram Multi Pap Limited (SUNDARAM)
₹1.13 +0.89% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Sundaram Multi's revenue was ₹49.6 Cr (+22.0% year on year, +11.8% on the previous quarter), and net profit ₹0.3 Cr (against a loss a year earlier); the operating margin was 2.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹49.6 | +22.0% | +11.8% |
| Operating profit | ₹1.2 | +2.0% | +32.1% |
| Net profit | ₹0.3 | from loss | -72.8% |
| Operating margin | 2.3% | — | — |
SUNDARAM delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 86.3% of the SUNDARAM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 77.32%. That is close to its usual level. Turnover was only ₹5 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 68.3% · 62.1% · 84.2% · 85.9% · 86.3%
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
Sundaram Multi Pap Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The confirmation was issued by the Registrar & Share Transfer Agent, MUFG Intime India Private Limited, for the quarter ended September 30, 2026. The RTA confirmed that securities received for dematerialisation were processed, listed on stock exchanges, and physical certificates mutilated as required. This is a standard quarterly regulatory submission with no financial or operational impact.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarter ended September 30, 2026
- Issued by Registrar & Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026
- Filing submitted to BSE and NSE on October 07, 2026
Sundaram Multi Pap Limited has announced the closure of its trading window effective Thursday, October 1, 2026, in compliance with SEBI insider trading regulations. The restriction applies to directors, key managerial personnel, and designated employees ahead of the Unaudited Standalone Financial Results for the quarter and half-year ending September 30, 2026. The window will remain shut until 48 hours following the declaration of financial results. The specific date for the board meeting to approve the results will be intimated later.
- Trading window closes on Thursday, October 1, 2026
- Closure covers the quarter and half year ending September 30, 2026
- Trading restriction extends until 48 hours after financial results announcement
- Applies to all Directors, KMPs, Designated Employees, and immediate relatives
Sundaram Multi Pap Limited has scheduled its 32nd Annual General Meeting (AGM) for Tuesday, September 29, 2026, via Video Conferencing. The company has designated September 22, 2026, as the cut-off date for determining shareholder voting eligibility. The register of members and share transfer books will remain closed from September 23, 2026, to September 29, 2026. Remote e-voting will run from September 26 to September 28, 2026.
- 32nd AGM scheduled for Tuesday, September 29, 2026 at 11:30 AM via VC/OAVM
- Record/cut-off date for e-voting eligibility set as September 22, 2026
- Book closure period scheduled from September 23, 2026 to September 29, 2026 (both days inclusive)
- Remote e-voting window open from September 26, 2026 to September 28, 2026
Sundaram Multi Pap Limited has issued notice for its 32nd Annual General Meeting (AGM) scheduled for September 29, 2026, via Video Conferencing. Key agenda items include the re-appointment of Managing Director Amrut P. Shah and Whole-Time Directors Shantilal P. Shah and Krunal S. Shah for a 3-year term from April 1, 2027, to March 31, 2030, at a proposed annual salary of Rs 75.00 Lakhs each. The filing also disclosed FY 2025-26 turnover of Rs 137.11 Cr (up from Rs 127.43 Cr in FY 2024-25) and net profit of Rs 3.18 Cr compared to a net loss of Rs 5.12 Cr in the previous year.
- 32nd AGM scheduled for September 29, 2026, at 11:30 AM IST via Video Conference.
- Proposed re-appointment of MD Amrut P. Shah and WTDs Shantilal P. Shah and Krunal S. Shah for 3-year tenures (April 2027–March 2030).
- Remuneration proposed at Rs 75.00 Lakhs per annum each for all three executive directors, subject to shareholder approval.
- FY 2025-26 turnover reported at Rs 13,711.25 Lakhs (Rs 137.11 Cr) with a net profit of Rs 317.95 Lakhs (Rs 3.18 Cr).
Sundaram Multi Pap reported a 22% YoY increase in revenue to ₹49.60 crore for the quarter ended June 30, 2026. The company achieved a turnaround with a net profit of ₹0.32 crore, compared to a loss of ₹0.44 crore in the corresponding quarter of the previous year. The board also approved the re-appointment of the core management team, including the Managing Director, for three-year terms starting April 2027. While the top-line growth is strong, net margins remain extremely thin at approximately 0.6%.
- Revenue from operations increased 22% YoY to ₹49.60 crore from ₹40.66 crore.
- Net profit turned positive at ₹0.32 crore compared to a loss of ₹0.44 crore in Q1 FY26.
- Cost of materials consumed stood at ₹35.06 crore, representing 70.7% of total revenue.
- Re-appointment of MD Amrut P. Shah and two Whole-Time Directors approved for 3-year terms starting April 2027.
- The 32nd Annual General Meeting is scheduled for September 29, 2026.
Sundaram Multi Pap reported a turnaround in Q1 FY27, posting a net profit of ₹0.32 Cr against a loss of ₹0.44 Cr in the same period last year. Revenue from operations grew 22% YoY to ₹49.60 Cr, which is significant given the company's total TTM revenue of ₹97 Cr. The company also managed to reduce finance costs by 53.6% YoY to ₹0.32 Cr. Additionally, the board approved the re-appointment of the Managing Director and four other directors for terms starting in 2027.
- Revenue from operations increased 22% YoY to ₹49.60 Cr from ₹40.66 Cr.
- Net profit turnaround to ₹0.32 Cr compared to a loss of ₹0.44 Cr in Q1 FY26.
- Finance costs significantly reduced to ₹0.32 Cr from ₹0.70 Cr in the previous year's quarter.
- Cost of materials consumed stood at ₹35.06 Cr, representing 70.7% of quarterly revenue.
- Re-appointment of MD Amrut P. Shah for a 3-year term starting April 1, 2027.
Sundaram Multi Pap has announced an AI-driven upgrade to its digital education platform, targeting the Maharashtra school ecosystem. The platform introduces AI-assisted content generation and question banks, specifically designed to operate in low-bandwidth and offline environments common in rural India. With a small market cap of Rs 40 Cr and a TTM revenue of Rs 97 Cr, the company is attempting to leverage its 10-year digital education history to pivot toward higher-margin technology solutions. This is significant as the company reported a TTM net loss of Rs 3 Cr and is looking for a turnaround.
- Integration of AI for automated generation of question banks, assessments, and mind maps.
- Platform designed for low-bandwidth and offline operation to serve semi-urban and rural regions.
- Leverages over 10 years of experience in the digital education sector across Maharashtra.
- Focus on regional language learning and curriculum-aligned digital content for Indian schools.
- Company currently operates with a thin OPM of 6.8% on TTM revenue of Rs 97 Cr.
Sundaram Multi Pap Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by MUFG Intime India Private Limited (formerly Link Intime), confirms that share certificates received for dematerialization were processed and cancelled as per regulatory requirements. This is a standard administrative filing confirming that the company's share registry records are being maintained correctly with the depositories (NSDL and CDSL). No financial or operational changes were reported in this document.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirmation provided by Registrar & Share Transfer Agent MUFG Intime India Private Limited
- Filing submitted to BSE and NSE on July 10, 2026
- Verification that dematerialized certificates were mutilated and cancelled within prescribed timelines
Sundaram Multi Pap Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of the Unaudited Standalone Financial Results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the financial results are officially announced. The specific date for the Board Meeting to approve these results will be shared later.
- Trading window closure effective from Wednesday, July 1, 2026.
- Closure relates to the financial results for the quarter ending June 30, 2026.
- Restriction applies to Directors, KMPs, Designated Employees, and their immediate relatives.
- Window to reopen 48 hours post-declaration of Unaudited Standalone Financial Results.
Sundaram Multi Pap has reported a significant financial turnaround for the fiscal year ended March 31, 2026, posting a net profit of ₹317.95 lakhs compared to a loss of ₹512.07 lakhs in the previous year. Annual revenue from operations grew by 7.6% to reach ₹13,711.25 lakhs. A key driver for the improved profitability was the reduction in finance costs, which dropped from ₹267.51 lakhs to ₹154.41 lakhs. However, the company announced the withdrawal of a major preferential issue of 7.04 crore shares after the proposed subscriber opted out.
- Annual Revenue from operations increased to ₹137.11 crore in FY26 from ₹127.43 crore in FY25
- Achieved a net profit turnaround of ₹3.18 crore in FY26 against a loss of ₹5.12 crore in FY25
- Finance costs significantly reduced by 42% YoY to ₹1.54 crore
- Q4 FY26 revenue grew 11.8% YoY to ₹44.35 crore with a net profit of ₹1.17 crore
- Withdrew the proposed preferential issue of 7.04 crore equity shares following SLAPL's decision not to proceed
Sundaram Multi Pap reported a significant turnaround for the financial year ended March 31, 2026, posting a net profit of ₹317.95 lakhs compared to a loss of ₹512.07 lakhs in the previous year. Annual revenue from operations grew by 7.6% to ₹13,711.25 lakhs, driven by steady demand in the exercise notebook segment. For the fourth quarter, the company recorded a profit of ₹117.34 lakhs against a loss in the corresponding quarter last year. Additionally, the board has withdrawn a previously proposed preferential issue of 7.04 crore shares following the cancellation of a share swap agreement.
- Annual Revenue from operations increased to ₹13,711.25 lakhs from ₹12,742.55 lakhs in FY25.
- Achieved a full-year net profit of ₹317.95 lakhs, reversing a substantial net loss of ₹512.07 lakhs in the prior year.
- Finance costs significantly reduced to ₹154.41 lakhs in FY26 from ₹267.51 lakhs in FY25, indicating better debt management.
- Q4 FY26 revenue grew 11.8% year-on-year to ₹4,434.99 lakhs with a quarterly profit of ₹117.34 lakhs.
- Withdrew proposed preferential issue of 7.04 crore equity shares as the counterparty opted out of the share swap transaction.
Sundaram Multi Pap Limited has officially transitioned from a regional player in Maharashtra and Gujarat to a PAN India distributor of paper stationery. The company aims to double its total sales points in the coming years by onboarding new distributors and stockists specifically in Tier II and Tier III cities. Management expects this strategic expansion to grow its retail footprint by over 40% while deepening engagement with educational institutions for bulk procurement. This move leverages the company's 40-year brand legacy to capture a larger share of the organized stationery market.
- Official launch of nationwide sales operations under the Sundaram Books brand.
- Aims to double the number of sales points across India in the coming years.
- Targeting a retail footprint growth of over 40% through Tier II and Tier III city penetration.
- Expanding distribution network to cover multiple new districts via new stockists and dealers.
- Focusing on educational partnerships for customized notebooks and bulk procurement solutions.
Sundaram Multi Pap has successfully commissioned a new fully automatic notebook manufacturing machine at its Palghar facility with an investment exceeding ₹30 million. The machine, sourced from Line-O-Matics, is now fully operational and aims to boost production capacity while reducing labor-intensive processes. This strategic move is expected to lower per-unit production costs and enhance overall operational margins. Management indicates that further automated lines will be added in the coming quarters to sustain growth momentum.
- Investment of over ₹30 million in advanced Line-O-Matics automation technology
- Machine is now fully operational at the Palghar plant to meet rising market demand
- Expected reduction in per-unit costs and improvement in product consistency and quality
- Strategic roadmap includes adding more automated production lines over the next few quarters
Sundaram Multi Pap Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirms that all dematerialization requests for the quarter ended March 31, 2026, were processed correctly. It verifies that security certificates received were mutilated, cancelled, and the depositories' names were substituted in the register of members. This is a standard procedural filing required for all listed entities in India.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Confirmation provided by Registrar & Share Transfer Agent, MUFG Intime India Private Limited.
- Verification that dematerialized securities are listed on the relevant stock exchanges.
- Confirmation that physical certificates were mutilated and cancelled within prescribed timelines.
Sundaram Multi Pap Limited has successfully installed solar roof panels at its manufacturing facility in Palghar, which spans 4 acres. This sustainability initiative, completed in partnership with Polaris Renewable Solutions, is designed to transition the company toward renewable energy and reduce carbon emissions. For investors, this move is expected to lower long-term operational energy costs and provide a hedge against fluctuating electricity prices. The system is already fully operational and integrated into the company's existing infrastructure.
- Installation of state-of-the-art solar roof panels at the Palghar factory premises spread over 4 acres.
- Project executed in partnership with Polaris Renewable Solutions Pvt. Ltd. to ensure seamless integration.
- Expected to significantly reduce reliance on non-renewable energy and lower annual energy expenditures.
- The initiative aligns with the company's broader ESG goals and carbon footprint reduction strategy.
Financial Performance
Revenue Growth by Segment
The company operates in a single business segment (exercise notebooks and paper). Total revenue for FY 2024-25 was INR 129.41 Cr, representing a 1.62% increase from INR 127.34 Cr in FY 2023-24. For the half-year ended September 30, 2025, revenue was INR 66.76 Cr compared to INR 66.44 Cr in the previous year, a marginal growth of 0.48%.
Geographic Revenue Split
Not disclosed in available documents; however, the company's primary manufacturing plant is located in Palghar, Maharashtra.
Profitability Margins
The company reported a Net Loss of INR 5.12 Cr for FY 2024-25. For the half-year ended September 30, 2025, the company achieved a turnaround with a Net Profit of INR 0.39 Cr. ROCE for FY 2024-25 was negative at -2.01% compared to -1.39% in FY 2023-24.
EBITDA Margin
EBITDA margin for FY 2024-25 was 1.46% (INR 1.89 Cr), a decline from 1.98% (INR 2.52 Cr) in FY 2023-24, primarily due to a 2.32% increase in operating expenses to INR 125.81 Cr.
Capital Expenditure
Property, Plant and Equipment (PPE) stood at INR 32.31 Cr as of September 30, 2025, down from INR 48.00 Cr as of March 31, 2025, reflecting depreciation of INR 4.34 Cr and other adjustments.
Credit Rating & Borrowing
Not disclosed in available documents. Interest paid during FY 2024-25 was INR 2.68 Cr, and the company repaid INR 18.55 Cr in non-current borrowings during the same period.
Operational Drivers
Raw Materials
Paper and paper-related materials are the primary inputs for exercise notebooks and stationery products. Specific cost percentages for individual raw materials are not disclosed.
Raw Material Costs
Not disclosed in available documents; however, the company notes that global and Indian demand-supply conditions and finished goods prices significantly impact operations.
Strategic Growth
Growth Strategy
The company is pursuing inorganic growth through the acquisition of a 52.38% stake (27,50,000 shares) in Sundaram Land and Assets Private Limited. This is being funded via a preferential issue of 7,04,00,000 equity shares to non-promoter shareholders.
Products & Services
Exercise notebooks and paper stationery products.
Brand Portfolio
Sundaram
Strategic Alliances
Acquisition of a controlling 52.38% stake in Sundaram Land and Assets Private Limited.
External Factors
Industry Trends
The industry is characterized by cyclical demand and pricing. The company is positioning itself by maintaining healthy relationships with stakeholders and focusing on cost control to mitigate inflationary pressures.
Competitive Moat
The company relies on its established 'Sundaram' brand and its manufacturing presence in the Sundaram Industrial Zone, Palghar, to maintain its market position in the exercise book segment.
Macro Economic Sensitivity
Highly sensitive to global and Indian demand-supply conditions for paper and finished stationery goods, as well as general economic developments within India.
Regulatory & Governance
Industry Regulations
Operations are subject to changes in Government regulations and pollution norms. The company maintains a rigorous verification process to ensure adherence to all laws.
Taxation Policy Impact
Not disclosed in available documents; however, changes in tax regimes are cited as a risk factor.
Legal Contingencies
The company identifies litigation as a risk factor that could impact operations, though specific pending case values are not disclosed in the provided documents.
Risk Analysis
Key Uncertainties
Key risks include volatility in raw material prices, lack of clarity on future Government policies, and the ability to maintain an interest coverage ratio above 1.0.
Geographic Concentration Risk
Manufacturing is concentrated in Palghar, Maharashtra, making the company vulnerable to regional regulatory or economic shifts.
Credit & Counterparty Risk
Trade receivables stood at INR 18.66 Cr as of September 30, 2025. The debtors turnover ratio improved to 9.13 times in FY 2024-25 from 7.25 times in FY 2023-24, indicating improved collection efficiency.
