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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2024)
Investment Thesis
Shakumbhri Pulp and Paper Mills Limited is a small UP-based paper manufacturer with revenues of approximately ₹90 Cr and a market cap of only ₹20 Cr, indicating a price-to-sales ratio well below 1x. While it has an established manufacturing base using agro-based inputs, it operates in a commodity market dominated by larger players and has limited public disclosures, making it a high-risk investment with modest growth prospects.
Pros
Cons
Business Segments
Writing & Printing Paper
Manufacturing of writing and printing paper for educational and office use
Kraft Paper
Manufacturing of kraft paper for packaging applications
Revenue Model
Shakumbhri Pulp and Paper Mills generates revenue through the sale of writing, printing, and kraft paper manufactured at its Saharanpur mill. It uses agro-based raw materials to keep input costs competitive, selling to paper traders, packaging companies, and institutional buyers.
Detailed Analysis
Growth Plans
Growth in domestic paper consumption driven by education sector and packaging demand from e-commerce
Anti-dumping duties on imported paper protecting domestic manufacturers
Industry Tailwinds
Growth in domestic paper consumption driven by education sector and packaging demand from e-commerce
Anti-dumping duties on imported paper protecting domestic manufacturers
Comparable Companies
JKPAPER · ~5000 Cr
Frequently Asked Questions
About Shakumbhri Pulp and Paper Mills Limited
Shakumbhri Pulp and Paper Mills Limited is an MSEI-listed paper manufacturer with revenues of approximately Rs. 90 Cr. The company manufactures writing, printing, and kraft paper from its mill using agro-residue and waste paper as raw material inputs. Shakumbhri is a small regional player in the fragmented Indian paper industry listed on the Metropolitan Stock Exchange of India (MSEI).
Key Milestones
Incorporated in 1986 in Uttar Pradesh (CIN: L21012UP1986PLC007671)
Established paper mill in Saharanpur using agro-based raw materials from the UP agricultural belt
Listed on MSEI (Metropolitan Stock Exchange of India); revenues reach approximately ₹90 Cr
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Industry Headwinds
Inability to compete on scale with large integrated paper mills that have lower per-unit costs
Rising energy costs impacting profitability of paper manufacturing operations
Key Strengths
Operational paper mill with established customer base
Agro-residue raw material base reduces wood pulp cost
Western UP location provides access to large industrial market
Key Weaknesses
Small scale vs large paper manufacturers
Commodity product with limited pricing power
Energy cost sensitivity
MSEI listing provides low liquidity
Net profit margin is thin at 3.3% (FY2024) — limited buffer against revenue or cost shocks
Source: Financial data
Paper is a commodity product with prices subject to global pulp price cycles and domestic supply-demand dynamics, making margins volatile
Source: Company Financial Filings
Agro-based raw materials (bagasse, wheat straw) are seasonal and dependent on agricultural output in UP and nearby states
Source: Media Reports / Public Records
Competes with much larger integrated paper manufacturers including JK Paper, West Coast Paper, BILT, and Tamil Nadu Newsprint, which have significant scale and cost advantages
Source: Media Reports / Public Records
Small scale vs large paper manufacturers
Source: AlphaHub Research
Commodity product with limited pricing power
Source: Media Reports / Public Records
Energy cost sensitivity
Source: AlphaHub Research
MSEI listing provides low liquidity
Source: AlphaHub Research
Paper is a commodity product with prices subject to global pulp price cycles and domestic supply-demand dynamics, making margins volatile
Agro-based raw materials (bagasse, wheat straw) are seasonal and dependent on agricultural output in UP and nearby states
Competes with much larger integrated paper manufacturers including JK Paper, West Coast Paper, BILT, and Tamil Nadu Newsprint, which have significant scale and cost advantages
WESTCOAST · ~2500 Cr
EMAMIPAP · ~800 Cr