---
title: "Three M Paper Boards Ltd (544214) — Share Price, Financials & Analysis"
symbol: "544214"
company: "Three M Paper Boards Ltd"
canonical: "https://tapetide.com/stocks/544214"
isin: "INE0UK501010"
nse_symbol: "THREEMPAPERBOARDSLTD"
bse_code: "544214"
sector: "Forest Materials"
industry: "Paper & Paper Products"
market_cap_cr: 48.1
generated_at: "2026-09-13T18:40:45.818Z"
---

# Three M Paper Boards Ltd (544214)

Canonical page: https://tapetide.com/stocks/544214

## Company

- **NSE Symbol:** THREEMPAPERBOARDSLTD
- **BSE Code:** 544214
- **ISIN:** INE0UK501010
- **Sector:** Forest Materials
- **Industry:** Paper & Paper Products
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2024-07-22
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** threempaper.com

## About

Incorporated in 1989, Three M Paper Boards Ltd is engaged in the manufacture of Duplex Boards.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:38:49.132714Z.

- **Market Cap:** ₹48.1 Cr
- **Classification:** SME
- **P/E (reported):** 6.7
- **EPS (reported):** ₹3.44
- **Book Value:** ₹57.7
- **Price to Book:** 0.43
- **Dividend Yield:** 0%
- **ROE:** 9.62%
- **ROCE:** 13.5%
- **Debt to Equity:** 0.68
- **Revenue (yearly):** ₹297.19 Cr
- **Net Income:** ₹6.35 Cr
- **EBITDA:** ₹17.76 Cr
- **52-Week High:** ₹42.6
- **52-Week Low:** ₹18.27
- **RSI (14):** 52.06

## Tapetide Score

- **Score:** 47 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 35.6 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 21.44 | 9% |
| growth | 51.37 | 9% |
| momentum | 32.13 | 12% |
| ownership | 26.21 | 24% |
| quality | 67.42 | 22% |
| valuation | 63.33 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.43 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Tax rate seems low
- Company has a low return on equity of 11.7% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -14.47% | -58.82% | -18.78% |
| ebitda margin growth | -36.31% | -39.76% | 6.49% |
| net income growth | -36.5% | 3% | 32% |
| revenue growth | 10.69% | -3% | 12% |
| roce | -31.51% | -12.56% | 14.74% |
| roe | -48.2% | 14.06% | 108.23% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 131 | 141 | 126 | 140 | 143 | 154 |
| Expenses | 120 | 129 | 117 | 127 | 135 | 145 |
| Operating Profit | 11 | 12 | 9 | 12 | 9 | 9 |
| OPM % | 8 | 9 | 7 | 9 | 6 | 6 |
| Other Income | 1 | 3 | 1 | 2 | 2 | 1 |
| Interest | 4 | 4 | 3 | 3 | 3 | 3 |
| Depreciation | 3 | 3 | 3 | 4 | 6 | 2 |
| Profit before tax | 5 | 8 | 5 | 8 | 2 | 4 |
| Tax % | -32 | 38 | -25 | 43 | -42 | 4 |
| Net Profit | 6 | 5 | 6 | 4 | 3 | 4 |
| EPS in Rs | 91.91 | 3.89 | 2.95 | 2.25 | 1.58 | 2.15 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 187 | 165 | 313 | 327 | 272 | 266 | 297 |
| Expenses | 177 | 151 | 298 | 308 | 249 | 244 | 279 |
| Operating Profit | 11 | 14 | 15 | 19 | 23 | 22 | 18 |
| OPM % | 6 | 9 | 4.7 | 6 | 9 | 8 | 6 |
| Other Income | 1 | 0 | 3 | 2 | 4 | 3 | 3 |
| Interest | 7 | 7 | 7 | 10 | 7 | 6 | 7 |
| Depreciation | 6 | 6 | 6 | 6 | 7 | 7 | 8 |
| Profit before tax | -1 | 2 | 5 | 6 | 13 | 12 | 6 |
| Tax % | 188 | 26 | 29 | -11 | 13 | 17 | -11 |
| Net Profit | -3 | 2 | 3 | 7 | 11 | 10 | 7 |
| EPS in Rs | -46.56 | 26.41 | 50.08 | 101.07 | 8.36 | 5.19 | 3.73 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 7 | 7 | 7 | 7 | 13 | 19 | 19 |
| Reserves | 29 | 31 | 34 | 41 | 47 | 85 | 92 |
| Borrowings | 55 | 54 | 78 | 82 | 73 | 62 | 75 |
| Other Liabilities | 48 | 51 | 63 | 60 | 62 | 74 | 85 |
| Total Liabilities | 138 | 142 | 182 | 189 | 195 | 241 | 271 |
| Fixed Assets | 74 | 71 | 69 | 78 | 76 | 85 | 107 |
| CWIP | 0 | 0 | 1 | 0 | 2 | 15 | 1 |
| Investments | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Other Assets | 65 | 70 | 110 | 110 | 116 | 139 | 162 |
| Total Assets | 138 | 142 | 182 | 189 | 195 | 241 | 271 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 13 | 12 | -10 | 24 | 11 | 10 | 8 |
| Cash from Investing Activity | -3 | -4 | -6 | -18 | -5 | -27 | -14 |
| Cash from Financing Activity | -8 | -8 | 16 | -5 | -12 | 17 | 7 |
| Net Cash Flow | 2 | 0 | 0 | 0 | -5 | 0 | 0 |
| Free Cash Flow | 10 | 9 | -15 | 10 | 5 | -19 | -9 |
| CFO/OP | 131 | 82 | -69 | 122 | 63 | 55 | 56 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 52 | 64 | 54 | 47 | 73 | 81 | 78 |
| Inventory Days | 90 | 126 | 46 | 71 | 64 | 94 | 109 |
| Days Payable | 125 | 186 | 100 | 93 | 101 | 130 | 138 |
| Cash Conversion Cycle | 16 | 4 | -1 | 25 | 36 | 45 | 48 |
| Working Capital Days | -9 | -1 | 20 | 15 | 31 | 45 | 33 |
| ROCE % | — | 10 | 12 | 13 | 16 | 12 | 7 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 70% | 70% | 70% | 70% | 70% | 70% | 70.04% | 70.09% | 70.13% |
| FIIs | 0% | 6.21% | 4.13% | 2.07% | 2.07% | 2.07% | 2.07% | 2.07% | 2.07% | 0% |
| DIIs | 0% | 6.45% | 2.61% | 2.03% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 0.7% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 12.57% | 17.51% | 18.78% | 18.56% | 18.28% | 18.03% | 17.3% | 17.5% | 16.79% |
| Others | 0% | 4.78% | 5.76% | 7.13% | 7.95% | 8.23% | 8.48% | 9.17% | 8.92% | 12.38% |
| No. of Shareholders | 7 | 1391 | 1159 | 1110 | 1074 | 1037 | 1024 | 993 | 987 | 952 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 6 / 6 / 7

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 24.39 | Buy |
| EMA (10) | 24.42 | Buy |
| SMA (20) | 24.5 | Buy |
| EMA (20) | 24.54 | Buy |
| SMA (50) | 25.23 | Sell |
| EMA (50) | 25.08 | Sell |
| SMA (100) | 25.17 | Sell |
| EMA (100) | 26.54 | Sell |
| SMA (200) | 30.76 | Sell |
| EMA (200) | 30.57 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 52.06 | Neutral |
| MACD (12,26,9) | -0.21 | Buy |
| Stochastic (14,3,3) | 53.98 | Neutral |
| ADX (14) | 14 | Neutral |
| Williams %R (14) | -34.62 | Neutral |
| ATR (14) | 1.21 | High Volatility |
| ROC (12) | 4.12 | Buy |
| Stoch RSI (14) | 89.09 | Sell |
| UO (7,14,28) | 45.68 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-08 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=315c25ae-b23f-4342-874a-cb6bf00e1d52.pdf) |
| 2026-09-07 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=264938e1-da3a-4236-bba7-6c02c2089040.pdf) |
| 2026-09-05 | [Board Meeting Outcome for Outcome Of Board Meeting _Disclosure Under Regulations 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0fc03c07-32ae-4de2-aa8f-fc947aa5f7c0.pdf) |
| 2026-09-01 | [Board Meeting Intimation for AGM And Related Matters](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7ee3bd09-a587-49da-859c-d22f8540e85e.pdf) |
| 2026-08-20 | [Reporting Under Regulation 7(1)(B) Of The Securities And Exchange Board Of India (Prohibition Of Insider Trading) Regulations 2015 Including Any Statutory Modifications Or Amendments Or Re-Enactments Thereof (PIT Regulations)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dbc03ee7-eb33-45e4-be29-cf0046b26276.pdf) |
| 2026-08-20 | [Disclosure In Terms Of Regulation 29(2) Of Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=82f3eb49-fee9-4348-9d9f-a5c34cc854e8.pdf) |
| 2026-08-18 | [Disclosure In Terms Of Regulation 29(2) Of Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9c63b8f2-cd69-4bd5-ae92-126e148c19c4.pdf) |
| 2026-08-18 | [Reporting Under Regulation 7(1)(B) Of The Securities And Exchange Board Of India (Prohibition Of Insider Trading) Regulations 2015 Including Any Statutory Modifications Or Amendments Or Re-Enactments Thereof (PIT Regulations)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3c768e87-91bc-458e-b55e-74208f72cf10.pdf) |
| 2026-08-13 | [Disclosure In Terms Of Regulation 29(2) Of Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5a9a441c-2d18-43e0-a80c-2f27871e979a.pdf) |
| 2026-08-13 | [Reporting Under Regulation 7(1)(B) Of The Securities And Exchange Board Of India (Prohibition Of Insider Trading) Regulations 2015 Including Any Statutory Modifications Or Amendments Or Re-Enactments Thereof (PIT Regulations)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=93466ce4-14da-4634-8643-8810c4a9bd88.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-27 | [Audited Financial Results For The Half Year And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6f07cc45-40d8-4c39-9e45-8aef9f7ebc70.pdf) |
| 2025-11-14 | [Unaudited Financial Results For The Half Year Ended September 30 2025 Along With Limited Review Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80a37005-931a-4136-b441-b807adedbd77.pdf) |
| 2025-05-26 | [Financial Result For Quarter And Year Ended On March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80be9784-4aa0-4df1-831b-959c5898018d.pdf) |
| 2024-11-13 | [Un-Audited Financial Results For The Half Year Ended September 30, 2024 And The Statement Of Assets And Liabilities And Cash Flow Statement For The Half Year Ended On September 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e9d5ac42-4d99-40e0-bc9f-f071609de032.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9m - Anurag Mishra and Neha Kothari appointed additional independent directors effective Feb 24, 2026, five-year term, subject to shareholder approval. | [Announcement under Regulation 30 (LODR)-Change in Directorate 9m - Anurag Mishra and Neha Kothari appointed additional independent directors effective Feb 24, 2026, five-year term, subject to shareholder approval.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/94496231-e220-4485-9024-6380d96b15f4.pdf) |
| 9 Mar - Board meeting on March 12, 2026 to review and approve operational and financial performance. | [Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Thursday, March 12, 2026 9 Mar - Board meeting on March 12, 2026 to review and approve operational and financial performance.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e17f3f96-d9ce-4c9a-8c18-194c25e040b3.pdf) |
| 7 Feb - Feb 7, 2026: CoC approved binding resolution plan for SAB Events & Governance Now Media Ltd via postal ballot. | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 7 Feb - Feb 7, 2026: CoC approved binding resolution plan for SAB Events & Governance Now Media Ltd via postal ballot.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d0430351-3d72-4eb1-9d85-9bea93047a4d.pdf) |
| 7 Apr - Promoters disclosed no encumbrance on shares for quarter and year ended March 31, 2026. | [Disclosure Under Regulation 31(4) Of The SEBI (Substantial Acquisition Of Share And Takeovers) Regulation, 2011 7 Apr - Promoters disclosed no encumbrance on shares for quarter and year ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1b619ded-4d7b-4404-8306-c500d5e260f6.pdf) |
| 6h - Chiplun plant operations temporarily halted after alternator and AVR breakdown; repair work underway. | [Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Temporary Shutdown Of Chiplun Plant 6h - Chiplun plant operations temporarily halted after alternator and AVR breakdown; repair work underway.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/54374c98-b9a3-410c-9b41-74a8b9a8e922.pdf) |
| 6 Feb - CoC met Feb 6, 2026; appointed Avyaan Legal; ratified PPIRP costs; binding plan on postal ballot. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 6 Feb - CoC met Feb 6, 2026; appointed Avyaan Legal; ratified PPIRP costs; binding plan on postal ballot.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d0ec71fb-ffcd-451f-aff1-bcfa7d737d91.pdf) |
| 5m - Postal ballot to appoint Anurag Mishra and Neha Kothari as independent directors for five years; e-voting 18-Mar–16-Apr-2026. | [Announcement Under Regulation 30 (LODR)- Updates 5m - Postal ballot to appoint Anurag Mishra and Neha Kothari as independent directors for five years; e-voting 18-Mar–16-Apr-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/8e1101a2-1504-42c7-bfa4-309d0f36440f.pdf) |
| 5 Feb - Unaudited Q3/9M results; NCLT admitted PPIRP Nov 4, 2025; director ceases Feb 9, 2026. | [Board Meeting Outcome for Outcome Of Board Meeting Held On Thursday, February 05, 2026 5 Feb - Unaudited Q3/9M results; NCLT admitted PPIRP Nov 4, 2025; director ceases Feb 9, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5871b169-738a-4865-a79b-34967e1a1efa.pdf) |
| 5 Feb - Board approved Q3/nine-month unaudited results; PPIRP admitted Nov 4, 2025; Director Mishra to cease Feb 09, 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 5 Feb - Board approved Q3/nine-month unaudited results; PPIRP admitted Nov 4, 2025; Director Mishra to cease Feb 09, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4d9db0c7-aa49-4139-8b8d-3d40728dccbb.pdf) |
| 27 Mar - Trading window closed from 01-Apr-2026 until 48 hours after audited results for half-year ended 31-Mar-2026. | [Closure of Trading Window 27 Mar - Trading window closed from 01-Apr-2026 until 48 hours after audited results for half-year ended 31-Mar-2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5ae22674-f5d7-4b87-83c9-a6834fd88eae.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/525f5c84-079a-4bcf-9592-abbb773e15d7.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a92b786e-1c89-4868-8c2a-0e4cabf2d3a2.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/298194b8-c319-4081-bb0a-27c34ddd4049.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/99d066bc-ce22-48e8-87a7-9828c73555e3.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/540081/74265540081.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/540081/70033540081.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/540081/66683540081.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/540081/5400810319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/540081/5400810318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/540081/5400810317.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:40:45.818Z.