Star Paper Mills Limited (STARPAPER.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+337.2%

₹621.34

vs ₹142.13 price

Levered DCF

₹335.38

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	5.74×	6.07×	5.64×	3.48×	6.77×	10.7×	2.95×	3.81×
P/B	0.27×	0.37×	0.56×	0.38×	0.46×	0.37×	0.23×	0.44×
P/S	0.46×	0.57×	0.81×	0.46×	0.75×	0.8×	0.33×	0.54×
EV / EBITDA	9.75×	3.69×	4.08×	2.52×	4.88×	6.02×	1.93×	3.6×
Gross margin	21.4%	49.6%	53.5%	21.7%	15.6%	16.9%	18.6%	19.1%
Operating margin	2.8%	7.0%	46.0%	15.4%	44.4%	6.8%	12.7%	11.9%
Net margin	8.0%	9.4%	14.4%	13.3%	11.1%	7.5%	11.0%	14.1%
Current ratio	7.9×	6.91×	6.2×	5.25×	4.27×	3.43×	3.49×	2.98×
Debt / equity	0.01×	0.01×	0.01×	0×	0×	0×	0×	0×
Interest coverage	12.37×	31.6×	244.08×	135.34×	309.64×	27.56×	66.36×	69.04×
Dividend yield	2.9%	2.5%	2.1%	2.4%	1.6%	2.1%	4.3%	2.3%
Payout ratio	16.6%	15.2%	12.1%	8.2%	10.6%	22.3%	12.7%	8.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.6%	6.0%	9.9%	11.0%	6.9%	3.5%	7.6%	11.7%
Return on invested capital	1.4%	3.0%	22.0%	8.9%	19.7%	1.9%	5.6%	8.3%
Return on assets	3.9%	5.0%	8.1%	9.0%	5.5%	2.7%	5.9%	9.0%
Free cash flow yield	11.1%	4.4%	4.1%	18.4%	6.6%	11.9%	7.7%	12.1%
Earnings yield	17.4%	16.5%	17.7%	28.7%	14.8%	9.3%	33.8%	26.3%
Enterprise value	₹1.8B	₹2.2B	₹3.6B	₹2.3B	₹2.4B	₹1.8B	₹1.1B	₹2B
Net debt / EBITDA	-0.42×	-0.42×	-0.07×	-0.04×	-0.07×	-0.09×	-0.07×	0.02×
Cash conversion cycle (days)	117	195	178	76	92	104	59	19