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JK Paper Limited (JKPAPER) Fair Value & Analysis

Basic Materials · IN · Market cap ₹70.6B (≈ $748M) · ISIN INE789E01012

What is JK Paper Limited really worth?

JP JK Paper Limited JKPAPER · BSE
Price₹405.55
Fair Value₹249.25
Upside−38.5%
Quality44/100

Below-average quality, and trading another 63% above our fair value of ₹249.25.

As of Aug 21, 2026, the fair value of JK Paper Limited is ₹249.25 per share against a price of ₹405.55, so the fair value sits 39% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +20.6 %/yr)
!Thin margins · 4.3% net margin
!Narrow moat 32/100
Evidence: High Range ₹186.93 – ₹311.56

Fair value as of: Aug 21, 2026

From 24 valuation models · updated 16 days ago

Share price +6.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹311.56). The favourable scenario is already priced in.
  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

₹611.97 ₹122.19 Fair Value ₹249.25 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹122.19 – ₹611.97 · fair‑value band ₹186.93 – ₹311.56 · the ₹405.55 price screens above the ₹249.25 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

JK Paper Limited (JKPAPER) currently trades at ₹405.55, while our model-based Fair Value estimate is ₹249.25, implying the stock looks roughly 62.7% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of ₹255.55 per share, and 4 of the 24 models we run sit above the ₹405.55 price. Bear case: the Economic Profit group reads lowest at ₹122.28, and 20 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, JK Paper Limited generated revenue of ₹73.0B at a net margin of 4.3%. Revenue grew 12.7% year over year. It earns a return on equity of 4.8%. Net debt stands at ₹22.8B. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹186.93 (bear case) to ₹311.56 (bull case); at ₹405.55, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at −39%, JKPAPER screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹7.48 per share, which is 3.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ₹115.91 ₹255.55 ₹491.54 76
Residual Income ₹232.20 ₹233.85 ₹221.36 76
EPV ₹94.77 ₹122.28 ₹146.36 74
All 24 models by family
DCF Models
FCF DCF ₹115.91 ₹255.55 ₹491.54 76
Owner Earnings ₹26.05 ₹98.31 ₹220.42 69
5Y Revenue Exit ₹178.37 ₹379.96 ₹653.28 69
5Y EBITDA Exit ₹231.05 ₹486.25 ₹804.32 72
5Y P/E Exit ₹105.65 ₹233.25 ₹375.99 68
10Y Revenue Exit ₹145.83 ₹329.34 ₹608.27 63
10Y EBITDA Exit ₹189.95 ₹406.27 ₹732.10 65
10Y P/E Exit ₹107.54 ₹223.13 ₹380.92 61
Earnings-Based
Graham-Dodd ₹99.70 ₹428.06 ₹584.92 64
Lynch FV ₹109.61 ₹156.58 ₹203.56 61
PEG = 1.0 ₹109.61 ₹156.58 ₹203.56 57
EPV ₹94.77 ₹122.28 ₹146.36 74
Multiples
P/E Multiple ₹186.93 ₹249.25 ₹311.56 63
P/S Multiple ₹186.93 ₹249.25 ₹311.56 58
P/B Multiple ₹186.93 ₹249.25 ₹311.56 55
EV/EBIT ₹258.13 ₹367.61 ₹477.10 65
EV/EBITDA ₹320.20 ₹450.37 ₹580.54 67
EV/Revenue ₹214.33 ₹336.33 ₹458.33 53
Asset-Based
NCAV (Graham) ₹152.23 ₹203.99 ₹304.47 54
Growth DCF
Growth DCF ₹115.59 ₹246.55 ₹463.68 74
Rev-Margin DCF ₹178.37 ₹373.75 ₹619.52 70
Economic Profit
Residual Income ₹232.20 ₹233.85 ₹221.36 76
ROIC Compounder ₹94.77 ₹122.28 ₹146.36 72
Growth Earnings
Growth-Adj P/E ₹163.61 ₹233.73 ₹303.85 67

Widest divergence: DCF Models (₹255.55) versus Economic Profit (₹122.28). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 23.6
P/S ratio 0.90 P/E × margin
EPS (TTM) ₹17.16 price ÷ EPS = P/E 23.6
Dividend yield 1.2% payout 28.3%
Net margin 3.8% FY2026
Return on equity 4.8% TTM
More key figures
Profitability
Return on assets (EBIT) 11.5% avg 5y
Operating margin 10.1% TTM
Growth
Revenue (TTM) ₹73.0B TTM
Revenue growth (YoY) +12.7% 3y avg +2.7%
EPS growth (YoY) +49.6%
Balance sheet & cash flow
Free cash flow ₹2.7B FY2026
Net debt ₹22.8B FY2026 · ≈ 8.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 64

Profitability 34
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 35
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

JK Paper Limited produces and sells paper products in India. It offers office and copier papers for use in color printing, black and white printing, photo copying, pamphlet printing, letter heads, and legal and accounting documentation purposes; coated paper for writing, printing, and packaging; uncoated writing and printing paper to produce various …

Full company description

JK Paper Limited produces and sells paper products in India. It offers office and copier papers for use in color printing, black and white printing, photo copying, pamphlet printing, letter heads, and legal and accounting documentation purposes; coated paper for writing, printing, and packaging; uncoated writing and printing paper to produce various stationary products, including notebooks, books, envelopes, drawing and sketching sheet, etc.; and packaging solutions for the pharma, food, and beverages, and FMCG sectors. The company sells its products under the JK Pac Fresh, JK Bond, JK Oleoff, JK Ecosip, JK Eco-green Tuff Freeze, JK EXCEL BOND, JK Ledger, JK HSMT, JK Purefil/SPM Purefil Base, JK Divine, JK Purefil PE, JK Neo Purefil PE, SPM Purefil, and SPM brands. It also exports its products in the United States, the United Kingdom, Bangladesh, Singapore, Malaysia, Africa, the Middle East, and internationally. JK Paper Limited was founded in 1938 and is headquartered in New Delhi, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

JK Paper Limited reported revenue of ₹69.7B in FY2026 versus ₹38.8B in FY2022, a compound +15.8%/yr. Reported net income was ₹2.7B in FY2026, compounding −16.3%/yr from FY2022.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹69.7B
Latest YoY
+6.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.7%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.6%
Avg. revenue growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.3%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−10.1% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−11.3%
Dividend yield1.2%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −11.3% vs 10Y 2.9%, flattening
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.17.1% (2021) → 8.1% (2026) · falling
Worst earnings drop78% (2026) · in INR
Revenue +15.8%/yr
FY22 ₹38.8B
FY23 ₹64.4B
FY24 ₹65.9B
FY25 ₹65.7B
FY26 ₹69.7B
Net income −16.3%/yr
FY22 ₹5.4B
FY23 ₹12.0B
FY24 ₹11.2B
FY25 ₹4.1B
FY26 ₹2.7B

JKPAPER screens 63% overvalued. Compare with UPM-Kymmene Oyj →

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Cite: Fair Value Calculator (2026). "JK Paper Limited Fair Value". https://www.fairvalue-calculator.com/stock/JKPAPER.BSE

Peer Group

Paper & Paper Products · 118 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Below median
Fair Value upside −39% · Below median
Return on equity (TTM) 5% · Above median
Return on assets 3% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 10% · Top 25%
Revenue growth 13% · Top 25%
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 23.6× · Pricier than median
P/B 1.28× · Pricier than 75% of peers
P/S (TTM) 0.97× · Pricier than median
P/FCF 0.3× · Cheaper than median
EV/EBITDA 8.5× · Pricier than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
UPM-Kymmene Oyj UPM €24.31 €14.21 −42%
Suzano S.A SUZ $9.15 $24.16 +164%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAA kr 112.50 kr 45.12 −60%
Shandong Sunpaper Co 002078 ¥13.94 ¥17.29 +24%
Holmen AB HOLMB kr 323.00 kr 217.72 −33%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.92 HK$8.74 +10%
PT Indah Kiat Pulp & Paper Tbk INKP 8,800 IDR 17,945 IDR +104%
Empresas CMPC S.A CMPC 1,049 CLP 1,281 CLP +22%
The Navigator Company NVG €3.24 €2.65 −18%
Xianhe Co 603733 ¥21.11 ¥21.06 +0%

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Frequently asked questions

Is JK Paper Limited (JKPAPER) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹249.25 versus a price of ₹405.55, about −39% upside (overvalued).
What is the fair value of JKPAPER?
Our model-based fair value for JK Paper Limited is ₹249.25 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹405.55.
What is the quality score of JKPAPER?
JK Paper Limited has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for JK Paper Limited (JKPAPER)?
Our model-based price target is the fair value of ₹249.25 (as of Aug 21, 2026) from 24 valuation models. Cautious scenario ₹186.93, optimistic scenario ₹311.56. It is a calculation from audited fundamentals, not an analyst target.
What is the JK Paper Limited stock forecast for 2026?
Our models put fair value at ₹249.25, about −39% upside versus a price of ₹405.55 (overvalued). Cautious scenario ₹186.93, optimistic scenario ₹311.56. The calculation is refreshed regularly with new filings.
What is the revenue of JK Paper Limited (JKPAPER)?
JK Paper Limited reported trailing-twelve-month revenue of about ₹73.0B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of JKPAPER?
The net profit margin of JK Paper Limited is about 4.3%, meaning it keeps roughly 4.3% of revenue as net income. Based on the latest reported figures.
Does JK Paper Limited pay a dividend?
JK Paper Limited currently shows a dividend yield of about 1.20% relative to its recent price (as of Aug 21, 2026).
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