Tamil Nadu Newsprint & Papers Limited (TNPL)

Loading page…

Tamil Nadu Newsprint & Papers Limited (TNPL) · mywealthgrid

About

Tamil Nadu Newsprint & Papers Limited manufactures paper and paper products in the Materials sector. With a market cap of ₹976.55 Cr and quarterly revenues around ₹1.1–1.3 Cr, the company has delivered consistent dividend payouts despite volatile earnings.

Face value: ₹10

Market cap

₹1,022 Cr

P/E

3.9×

P/B

0.4×

Dividend yield

2.7%

ROE

11.3%

ROCE

Debt / equity

0.69

OPM

10.4%

EPS (TTM)

₹37.6

Book value

₹333.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability highly volatile: net profit swung from ₹240.3 Cr (Mar 2026) to -₹42.89 Cr (Dec 2024), creating uncertainty in cash generation and dividend sustainability.
Operating margins fluctuate from 4.86% (Dec 2024) to 13.66% (Sep 2024), indicating commodity or operational sensitivity.
Newsprint sector exposure to potential secular demand headwinds from digital media adoption — verify current end-market trends and product mix.
Moderate leverage (D/E 0.69) limits financial flexibility if earnings deteriorate further in a downturn.

Generated analysis · source review pending

Growth drivers

Operating margin recovery from 4.86% (Dec 2024) to 10–11% (recent quarters) indicates improving operational efficiency that could drive net profit growth on current revenue base.
Profitability stabilization after losses in Dec 2024 (-₹42.89 Cr) and Jun 2025 (-₹7.41 Cr) reduces earnings uncertainty if trend holds.
Verify whether recent margin gains reflect structural improvements (cost reduction, capacity efficiency) or cyclical input-cost relief, and end-market demand dynamics in paper/newsprint.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹147.6-2.7%1Y

Quick read

rule-based

Pros

+Dividend yield of 2.7%

Cons

−Low return on equity of 7.3% (3-yr avg)
−Profit declined 13.9% a year over the last 3 years
−Weak interest coverage of 1.3×
−Low dividend payout of 10.6% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

43/100

Business quality: 23
Growth: 6
Valuation: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jk Paper LimitedJKPAPERJKPAPER	₹6,937 Cr	₹9,373 Cr	₹7,365 Cr	₹968 Cr	13.1%	₹324 Cr	3.9%	7.4%	4.9%	69
West Coast Paper Mills LimitedWSTCSTPAPRWSTCSTPAPR	₹4,802 Cr	₹5,116 Cr	₹4,389 Cr	₹505 Cr	9.7%	₹237 Cr	3.6%	6%	4.4%	106
Seshasayee Paper And Boards LimitedSESHAPAPERSESHAPAPER	₹1,491 Cr	₹1,491 Cr	₹1,817 Cr	₹119 Cr	5.6%	₹99 Cr	4.8%	4.6%	4.1%	79
Andhra Paper LimitedANDHRAPAPANDHRAPAP	₹1,419 Cr	₹1,652 Cr	₹1,702 Cr	₹82 Cr	4%	₹28 Cr	1.1%	2%	1%	68
N R Agarwal Industries LimitedNRAILNRAIL	₹1,121 Cr	₹1,910 Cr	₹2,340 Cr	₹232 Cr	8.1%	₹62 Cr	2%	8.8%	5.5%	44
Tamil Nadu Newsprint & Papers LimitedTNPLTNPL	₹1,022 Cr	₹2,620 Cr	₹4,649 Cr	₹494 Cr	10.4%	₹261 Cr	5.3%	7%	11.3%	-31
Pudumjee Paper Products LimitedPDMJEPAPERPDMJEPAPER	₹907 Cr	₹930 Cr	₹814 Cr	₹125 Cr	15.3%	₹91 Cr	11.6%	17.8%	14.9%	91
Emami Paper Mills LimitedEMAMIPAPEMAMIPAP	₹707 Cr	₹1,524 Cr	₹2,008 Cr	₹241 Cr	10.3%	₹94 Cr	3.2%	14%	9.8%	107
Satia Industries LimitedSATIASATIA	₹683 Cr	₹982 Cr	₹1,443 Cr	₹119 Cr	9.1%	₹-8 Cr	2.8%	4.6%	3.8%	110
Kuantum Papers LimitedKUANTUMKUANTUM	₹670 Cr	₹1,530 Cr	₹1,174 Cr	₹162 Cr	14.8%	₹36 Cr	3.8%	5.4%	3.4%	77
Shree Rama Newsprint LimitedRAMANEWSRAMANEWS	₹433 Cr	₹810 Cr	₹33 Cr	₹-2 Cr	0.7%	₹-69 Cr	-209.4%	0.8%	—	-50
Orient Paper & Industries LimitedORIENTPPRORIENTPPR	₹344 Cr	₹631 Cr	₹895 Cr	₹-32 Cr	-4.2%	₹-71 Cr	-3.2%	-4.2%	-1.9%	32

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,418	3,064	3,125	4,083	3,471	2,768	4,020	5,180	4,693	4,491	4,645
COGS	-146	-297	1,613	2,038	1,560	1,296	2,096	2,109	2,022	2,250	2,369
Gross profit	—	—	1,513	2,045	1,911	1,473	1,924	3,071	2,671	2,241	2,276
	1,984	2,632	1,108	1,395	1,303	1,212	1,566	2,069	1,901	1,813	1,795
	579	729	405	649	608	260	358	1,003	770	428	481
OPM %	24%	23.8%	13%	15.9%	17.5%	9.4%	8.9%	19.4%	16.4%	9.5%	10.4%
Depreciation	139	208	222	227	231	235	229	264	291	304	313
Interest	139	252	245	233	223	193	156	182	223	216	193
	17	37	34	-34	36	70	49	46	69	97	76
Profit before tax	317	306	-28	155	191	-99	22	603	325	5	51
Tax	63	42	14	61	61	-34	8	215	117	2	-197
Tax %	20%	13.6%	50.6%	39.2%	31.8%	-34%	35%	35.7%	35.9%	29.6%	-389.6%
	254	265	-42	94	130	-65	14	388	208	4	248
PAT margin %	10.5%	8.6%	-1.4%	2.3%	3.8%	-2.4%	0.4%	7.5%	4.4%	0.1%	5.3%
EPS (₹)	36.7	38.2	-6.1	13.6	18.8	-9.4	2.1	56	30.1	0.5	35.8
EPS adjusted (₹)	36.6	38.1	-6.1	13.6	18.7	-9.4	2.1	55.9	30	0.5	35.7
	20.4%	19.6%	—	55%	31.9%	—	193.2%	8.9%	13.3%	555.6%	11.2%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	69	69	69	69	69	69	69	69	69	69	69
Reserves	1,194	1,635	1,534	1,582	1,644	—	1,520	1,875	2,020	2,018	2,247
	1,883	2,395	1,959	1,530	1,779	—	2,223	1,071	1,796	1,592	1,599
	1,461	1,535	1,963	2,350	2,085	—	1,963	3,108	2,159	2,204	2,295
Total equity & liabilities	4,608	5,634	5,525	5,531	5,577	—	5,774	6,123	6,045	5,883	6,210
	2,430	4,094	4,066	3,883	3,707	3,493	3,280	4,456	4,295	4,099	3,880
CWIP	631	59	18	14	62	—	1,357	20	16	55	473
Investments	1	1	1	1	0	—	6	6	6	6	5
	1,546	1,481	1,440	1,633	1,807	—	1,131	1,641	1,729	1,723	1,852
Total assets	4,608	5,634	5,525	5,531	5,577	—	5,774	6,123	6,045	5,883	6,210

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Paper & Paper Board	4,630.66	151.82	5,505.82	2,398.51	3,107.31	4.89
Energy	542.84	-4.73

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.1%	55.1%	53.2%	47.9%	59.3%	56.9%	49.9%	49%
EBITDA margin %	15.9%	17.5%	9.4%	8.9%	19.4%	16.4%	9.5%	10.4%
EBIT margin %	10.3%	10.9%	0.9%	3.2%	14.3%	10.2%	2.8%	3.6%
PAT margin %	2.3%	3.8%	-2.4%	0.4%	7.5%	4.4%	0.1%	5.3%
Working capital
Receivable days	39	55	—	23	23	35	32	48
Inventory days	154	198	—	77	166	184	166	150
Payable days	216	232	—	194	0	191	201	229
NWC days	-23	21	—	-94	189	29	-2	-31
Leverage
Current ratio	0.68	0.71	—	0.47	0.6	0.67	0.66	0.69
Debt to EBITDA	2.36	2.93	—	6.2	1.07	2.33	3.72	3.33
Debt to equity	0.93	1.04	—	1.4	0.55	0.86	0.76	0.69
Interest coverage	2	1.9	0.4	1.1	4.3	2.5	1	1.3
Asset turnover	0.74	0.62	—	0.7	0.85	0.78	0.76	0.75
Return ratios
Return on assets %	1.7%	2.3%	—	0.2%	6.3%	3.4%	0.1%	4%
Return on capital employed %	13.9%	12.6%	—	5%	22.1%	15.4%	6.4%	7%
Return on equity %	5.7%	7.6%	—	0.9%	20%	10%	0.2%	10.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%	35.32%
	4.63%	4.89%	4.67%	4.8%	4.27%	4.94%	5.37%	5.38%	5.05%	5.08%	4.96%	5.01%
	10.85%	12.66%	15.47%	15.51%	14.23%	12.94%	12.37%	12.03%	11.36%	11.26%	10.54%	9.54%
	0%	0%	0%	0%	0%	0%	0%	0%	4.06%	4.06%	4.06%	4.06%
	49.2%	47.13%	44.54%	44.37%	46.18%	46.8%	46.94%	47.27%	44.21%	44.28%	45.12%	46.07%
No. of shareholders	—	—	—	—	—	—	—	—	51,276	50,281	49,209	48,969

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

3.19%

of the company's equity

All mutual funds

8.28%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

2 schemes

		Shares
Small Cap FundNEW	ICICI Prudential Mutual Fund	17.83 L	25.12	0.26%	2.577%	—
PSU EQUITY FUND	ICICI Prudential Mutual Fund	4.26 L	6.01	0.32%	0.616%	-0

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

53 announcementsExport CSV

28 Sept 2026, 2:25 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 12:30 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

8 Sept 2026, 5:40 pmInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

3 Sept 2026, 10:43 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

2 Sept 2026, 7:01 pmCompany Update

Notice Of 46Th Annual General Meeting To The Held On 24Th September, 2026

General PDF

2 Sept 2026, 6:12 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

2 Sept 2026, 6:04 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

2 Sept 2026, 5:49 pmAGM/EGM

Notice Of 46Th AGM - September 24, 2026

AGM PDF

Date	Category	Subject	Filing
28 Sept 2026, 2:25 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 12:30 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.1%	55.1%	53.2%	47.9%	59.3%	56.9%	49.9%	49%
EBITDA margin %	15.9%	17.5%	9.4%	8.9%	19.4%	16.4%	9.5%	10.4%
EBIT margin %	10.3%	10.9%	0.9%	3.2%	14.3%	10.2%	2.8%	3.6%
PAT margin %	2.3%	3.8%	-2.4%	0.4%	7.5%	4.4%	0.1%	5.3%
Working capital
Receivable days	39	55	—	23	23	35	32	48
Inventory days	154	198	—	77	166	184	166	150
Payable days	216	232	—	194	0	191	201	229
NWC days	-23	21	—	-94	189	29	-2	-31
Leverage
Current ratio	0.68	0.71	—	0.47	0.6	0.67	0.66	0.69
Debt to EBITDA	2.36	2.93	—	6.2	1.07	2.33	3.72	3.33
Debt to equity	0.93	1.04	—	1.4	0.55	0.86	0.76	0.69
Interest coverage	2	1.9	0.4	1.1	4.3	2.5	1	1.3
Asset turnover	0.74	0.62	—	0.7	0.85	0.78	0.76	0.75
Return ratios
Return on assets %	1.7%	2.3%	—	0.2%	6.3%	3.4%	0.1%	4%
Return on capital employed %	13.9%	12.6%	—	5%	22.1%	15.4%	6.4%	7%
Return on equity %	5.7%	7.6%	—	0.9%	20%	10%	0.2%	10.7%

16 deals · 16 Aug 2023 – 28 Jan 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Jan 2026	POINT BREAK CAPITAL LP	Bulk	NSE	Sell	12,00,000	₹133.00	₹15.96 Cr
28 Jan 2026	SONA INDIA INVESTMENTS LLC	Bulk	NSE	Buy	11,60,978	₹133.61	₹15.51 Cr
30 Sept 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	3,87,293	₹167.14	₹6.47 Cr
30 Sept 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	3,87,293	₹167.01	₹6.47 Cr
25 Aug 2025	LIFE INSURANCE CORPORATION OF INDIA	Bulk	NSE	Sell	4,00,000	₹171.00	₹6.84 Cr
20 Dec 2024	POINT BREAK CAPITAL LP	Bulk	NSE	Buy	6,00,000	₹211.74	₹12.70 Cr
19 Dec 2024	POINT BREAK CAPITAL LP	Bulk	NSE	Buy	6,00,000	₹207.10	₹12.43 Cr
19 Dec 2024	AAKRAYA RESEARCH LLP	Bulk	NSE	Buy	3,65,703	₹206.69	₹7.56 Cr
19 Dec 2024	AAKRAYA RESEARCH LLP	Bulk	NSE	Sell	3,65,703	₹206.79	₹7.56 Cr
10 Dec 2024	WISDOMTREE INDIA INVESTMENT PORTFOLIO INC	Bulk	NSE	Sell	3,57,804	₹182.55	₹6.53 Cr

1–10 of 16

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	833	819	241	423	1,111	809	419	570	596
	-115	-47	-207	-682	-353	-104	-136	-162	-387
	-574	-849	-36	333	-760	-652	-270	-493	-161
Net cash flow	—	—	—	74	-2	53	14	-86	48
Free cash flow	—	—	—	-262	754	701	277	396	199
CFO / Operating profit %	205.7%	126.1%	39.7%	162.5%	310%	80.7%	54.5%	133.2%	123.9%

Tamil Nadu Newsprint & Papers Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

22

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Cement · revenue

Tamil Nadu Newsprint & Papers Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Dividends22

Board meetings1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Cement · revenue

22

1