Shree Ajit Pulp & Paper
SAPPL NSE
Shree Ajit Pulp & Paper
Forest MaterialsNSE: SAPPL BSE: 538795 Paper & Paper Products
Key Fundamentals
MicrocapPaper & Paper ProductsForest MaterialsMarket Cap
₹253 Cr
Volatility
Moderate
P/E Ratio
6.23
EBITDA
₹93.51 Cr
Return on Equity
3.8%
Debt to Equity
0.92
Book Value
₹312.59
52W High
₹334.3
52W Low
₹252
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.93 times its book value
Weaknesses
2- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 6.16% over last 3 years.
Growth Rate
Revenue Growth
38.14% higher than
3Y
Net Income Growth
349% higher than
3Y
Cash Flow Change
-58.99% higher than
3Y
ROE
4.68% lower than
3Y
ROCE
75.33% higher than
3Y
EBITDA Margin (Avg.)
27.18% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 76 | 68 | 43 | 107 | 118 | 111 | 121 | 155 | 177 | 172 | 177 | 175 | 201 |
| Expenses | 70 | 63 | 38 | 102 | 107 | 101 | 108 | 137 | 154 | 152 | 154 | 148 | 165 |
| Operating Profit | 5 | 5 | 5 | 5 | 11 | 10 | 13 | 18 | 23 | 21 | 23 | 26 | 36 |
| OPM % | 7% | 7% | 12% | 5% | 9% | 9% | 10% | 11% | 13% | 12% | 13% | 15% | 18% |
| Other Income | 1 | 0 | 0 | 6 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 2 | 1 |
| Interest | 1 | 1 | 1 | 5 | 5 | 5 | 6 | 8 | 8 | 7 | 7 | 12 | 8 |
| Depreciation | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 |
| PBT | 4 | 2 | 2 | 3 | 3 | 2 | 3 | 7 | 10 | 9 | 11 | 12 | 24 |
| Tax % | 28% | 53% | 29% | 3% | 26% | 26% | 26% | 33% | 31% | 32% | 32% | 21% | 24% |
| Net Profit | 3 | 1 | 2 | 3 | 2 | 1 | 2 | 5 | 7 | 6 | 8 | 10 | 19 |
| EPS in Rs | 3 | 1.28 | 1.79 | 3.2 | 2.46 | 1.56 | 2.1 | 5.1 | 7.95 | 6.57 | 8.47 | 10.8 | 20.84 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 203 | 237 | 209 | 249 | 270 | 240 | 267 | 418 | 372 | 295 | 506 | 701 | 725 |
| Expenses | 183 | 209 | 190 | 226 | 225 | 206 | 222 | 376 | 343 | 274 | 454 | 607 | 619 |
| Operating Profit | 20 | 28 | 19 | 24 | 44 | 34 | 45 | 43 | 29 | 21 | 51 | 94 | 106 |
| OPM % | 10% | 12% | 9% | 10% | 16% | 14% | 17% | 10% | 8% | 7% | 10% | 13% | 15% |
| Other Income | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 10 | 7 | 2 | 3 | 4 |
| Interest | 5 | 5 | 4 | 6 | 5 | 4 | 4 | 5 | 6 | 7 | 23 | 34 | 34 |
| Depreciation | 5 | 5 | 5 | 6 | 7 | 8 | 8 | 7 | 7 | 9 | 16 | 20 | 20 |
| PBT | 10 | 18 | 9 | 11 | 33 | 23 | 34 | 32 | 25 | 11 | 14 | 42 | 56 |
| Tax % | 27% | 34% | 29% | 32% | 28% | 15% | 30% | 32% | 18% | 27% | 33% | 29% | — |
| Net Profit | 7 | 12 | 6 | 8 | 24 | 20 | 24 | 22 | 21 | 8 | 9 | 30 | 42 |
| EPS in Rs | 7.99 | 13.24 | 7.24 | 8.62 | 26.91 | 22.39 | 26.97 | 24.29 | 23.26 | 9.27 | 10.59 | 33.78 | 46.68 |
| Div. Payout % | 4% | 3% | 6% | 5% | 2% | 2% | 2% | 2% | 3% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 8 | 9 | 9 |
| Reserves | 70 | 81 | 88 | 95 | 118 | 138 | 161 | 182 | 203 | 220 | 239 | 269 |
| Borrowings | 41 | 33 | 44 | 51 | 36 | 30 | 24 | 46 | 169 | 226 | 285 | 256 |
| Other Liabilities | 33 | 38 | 36 | 36 | 40 | 37 | 54 | 48 | 51 | 63 | 67 | 82 |
| Total Liabilities | 149 | 157 | 173 | 187 | 199 | 210 | 245 | 282 | 429 | 516 | 600 | 616 |
| Fixed Assets | 91 | 91 | 89 | 111 | 127 | 134 | 129 | 128 | 140 | 294 | 408 | 389 |
| CWIP | 3 | 1 | 6 | 2 | 3 | 3 | 1 | 3 | 139 | 44 | 0 | 1 |
| Investments | 0 | 0 | 5 | 5 | 8 | 8 | 7 | 4 | 13 | 0 | 0 | 3 |
| Other Assets | 54 | 65 | 73 | 69 | 62 | 65 | 108 | 147 | 136 | 179 | 192 | 223 |
| Total Assets | 149 | 157 | 173 | 187 | 199 | 210 | 245 | 282 | 429 | 516 | 600 | 616 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 16 | 17 | 14 | 18 | 45 | 32 | 25 | -7 | 21 | 19 | 8 | 63 |
| Investing | -9 | -4 | -27 | -18 | -24 | -14 | 0 | -15 | -146 | -87 | -46 | -8 |
| Financing | -8 | -13 | 13 | 1 | -21 | -10 | -10 | 16 | 110 | 66 | 48 | -63 |
| Net Cash Flow | -1 | 0 | 0 | 0 | 0 | 8 | 15 | -7 | -15 | -2 | 10 | -9 |
| Free Cash Flow | 7 | 13 | -12 | 0 | 23 | 18 | 25 | -24 | -125 | -76 | -39 | 58 |
| CFO/OP | 94 | 72 | 91 | 82 | 120 | 107 | 77 | 7 | 89 | 110 | 19 | 75 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 61 | 55 | 60 | 43 | 51 | 58 | 49 | 41 | 66 | 57 | 52 |
| Inventory Days | 56 | 42 | 57 | 50 | 56 | 53 | 78 | 73 | 84 | 118 | 80 | 60 |
| Days Payable | 36 | 40 | 45 | 35 | 40 | 42 | 57 | 32 | 33 | 76 | 38 | 30 |
| Cash Conversion Cycle | 66 | 63 | 67 | 75 | 58 | 62 | 79 | 90 | 91 | 108 | 98 | 82 |
| Working Capital Days | 9 | 32 | 20 | 23 | 29 | 39 | 45 | 41 | 50 | 30 | 22 | 58 |
| ROCE % | 13% | 19% | 10% | 12% | 25% | 17% | 21% | 17% | 10% | 3% | 7% | 14% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Shree Ajit Pulp & Paper insights
29 extracted metrics + investor summaries across FY15–FY26.
Documents
1
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Apr - Submitted Regulation 74(5) dematerialisation certificate for quarter ended 31 March 2026. 13 Apr - Submitted Regulation 74(5) dematerialisation certificate for quarter ended 31 March 2026.
2
Closure of Trading Window
25 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited results for FY/Q4 ended Mar 31, 2026. 25 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited results for FY/Q4 ended Mar 31, 2026.
4
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
23 Mar - On March 19, 2026, shareholders reappointed Gautam D. Shah (MD), Bela G. Shah (WTD/CFO), Yogesh Kabaria (Independent Director). 23 Mar - On March 19, 2026, shareholders reappointed Gautam D. Shah (MD), Bela G. Shah (WTD/CFO), Yogesh Kabaria (Independent Director).
5
Board Meeting Outcome for Outcome Of Board Meeting.
24 Feb - Board appointed M/s. J B R & Co. LLP as internal auditor on February 24, 2026. 24 Feb - Board appointed M/s. J B R & Co. LLP as internal auditor on February 24, 2026.
1
Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 9 Sept 2026
General_Announcements
Frequently Asked Questions about Shree Ajit Pulp & Paper
What does Shree Ajit Pulp and Paper Ltd do?
Incorporated in 1995, Shree Ajit Pulp And Paper Ltd does manufacturing of Kraft Paper (Testliner / Multilayer Testliner) which is mainly used for manufacturing of corrugated boxes[1]
Where is Shree Ajit Pulp and Paper Ltd (538795) listed?
Shree Ajit Pulp and Paper Ltd trades as SAPPL on the NSE and under code 538795 on the BSE.
Which sector does Shree Ajit Pulp and Paper Ltd belong to?
Shree Ajit Pulp and Paper Ltd is classified under the Forest Materials sector, in the Paper & Paper Products industry.
What is the market capitalisation of Shree Ajit Pulp and Paper Ltd?
Shree Ajit Pulp and Paper Ltd has a market capitalisation of ₹253.18 Cr, which places it in the Small Cap band.
What is the PE ratio of Shree Ajit Pulp and Paper Ltd?
Shree Ajit Pulp and Paper Ltd trades at a PE ratio of 6.23, against a book value of ₹312.59 per share.
What is the 52-week high and low of Shree Ajit Pulp and Paper Ltd?
Over the last 52 weeks Shree Ajit Pulp and Paper Ltd has traded between ₹252 and ₹334.3.
Does Shree Ajit Pulp and Paper Ltd pay dividends?
Shree Ajit Pulp and Paper Ltd has a dividend yield of 0.35%.
What is the Return on Equity (ROE) of Shree Ajit Pulp and Paper Ltd?
Shree Ajit Pulp and Paper Ltd reported a return on equity of 3.80%. Its debt-to-equity ratio is 0.92.
Company Information
Incorporated in 1995, Shree Ajit Pulp And Paper Ltd does manufacturing of Kraft Paper (Testliner / Multilayer Testliner) which is mainly used for manufacturing of corrugated boxes[1]
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