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Neeraj Paper Marketing Ltd (NEERAJ) Fair Value & Analysis

Basic Materials · IN · Market cap ₹225M

NP Neeraj Paper Marketing Ltd NEERAJ · BSE
Price₹19.91
Fair Value₹7.95
Upside-60.1%
Quality56/100
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Mixed Growth
Thin margins · 0.3% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 17/100
Evidence: High Range ₹5.96 – ₹9.94 Share as image

Fair value as of: Aug 19, 2026

From 22 valuation models · updated yesterday

A solid business, but screening 60% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (₹9.94). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹48.17 ₹9.82 Fair Value ₹7.95 Oct 2017 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹9.82 – ₹48.17 · fair‑value band ₹5.96 – ₹9.94 · the ₹19.91 price screens above the ₹7.95 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Neeraj Paper Marketing Ltd (NEERAJ) currently trades at ₹19.91, while our model-based Fair Value estimate is ₹7.95, implying the stock looks roughly 60.1% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Neeraj Paper Marketing Ltd generated revenue of ₹1.7B at a net margin of 0.3%. Revenue declined 2.2% year over year. It earns a return on equity of 1.8%. Net debt stands at ₹66.4M. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹5.96 (bear case) to ₹9.94 (bull case); at ₹19.91, 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 11% below its 52-week high and 33% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at -60%, NEERAJ screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF ₹55.02 ₹67.16 ₹85.44 80
Rev-Margin DCF ₹29.34 ₹36.12 ₹45.35 74
ROIC Compounder ₹4.38 ₹5.12 ₹5.72 72
All 22 models by family
DCF Models
FCF DCF ₹53.62 ₹68.00 ₹91.14 38
Owner Earnings ₹3.39 ₹4.73 ₹6.89 31
5Y Revenue Exit ₹29.34 ₹34.56 ₹41.98 39
5Y EBITDA Exit ₹29.10 ₹34.16 ₹40.88 41
5Y P/E Exit ₹27.24 ₹30.94 ₹35.60 38
10Y Revenue Exit ₹40.52 ₹45.04 ₹49.13 36
10Y EBITDA Exit ₹40.59 ₹44.83 ₹48.58 37
10Y P/E Exit ₹39.62 ₹43.13 ₹45.94 35
Earnings-Based
Graham-Dodd ₹3.18 ₹3.89 ₹4.37 54
EPV ₹4.38 ₹5.12 ₹5.72 59
Multiples
P/E Multiple ₹5.96 ₹7.95 ₹9.94 63
P/S Multiple ₹5.96 ₹7.95 ₹9.94 58
P/B Multiple ₹5.96 ₹7.95 ₹9.94 55
EV/EBIT ₹9.67 ₹13.49 ₹17.30 53
EV/EBITDA ₹8.34 ₹11.71 ₹15.07 54
EV/Revenue ₹8.15 ₹12.40 ₹16.65 43
Asset-Based
NCAV (Graham) ₹12.89 ₹17.28 ₹25.79 50
Growth DCF
Growth DCF ₹55.02 ₹67.16 ₹85.44 80
Rev-Margin DCF ₹29.34 ₹36.12 ₹45.35 74
Economic Profit
Residual Income ₹16.18 ₹14.67 ₹9.80 61
ROIC Compounder ₹4.38 ₹5.12 ₹5.72 72
Growth Earnings
Growth-Adj P/E ₹4.25 ₹6.07 ₹7.89 68

Widest divergence: Growth DCF (₹36.12) versus Earnings-Based (₹3.89). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹1.7B
Revenue growth (YoY) -2.2%
Net margin 0.3%
Return on equity 1.8%
Free cash flow ₹84.3M FY2026
P/E ratio 42.4
More key figures
Operating margin 1.2%
EPS (TTM) ₹0.4700
EPS growth (YoY) +120%
Net debt ₹66.4M FY2026

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 63

Profitability 34
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

Neeraj Paper Marketing Limited engages in the trading of packaging grades of paper and paperboards, tissue papers, and iron and steel in India.

Full company description

Neeraj Paper Marketing Limited engages in the trading of packaging grades of paper and paperboards, tissue papers, and iron and steel in India. The company's products include Kraft linear and fluting media products, duplex board, writing printing paper, tissue and poster, and waste paper, as well as fine print product, art and poster papers, and other products. It also trades in commodities. The company's products are used for printing bibles, making small packs to keep razor blades, letterheads and image-building stationary, publishing books, computer printouts, copying, typing, plain paper faxes and general and computer stationaries, and making cheques. Neeraj Paper Marketing Limited was incorporated in 1995 and is based in New Delhi, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Neeraj Paper Marketing Ltd reported revenue of ₹1.7B in FY2026 versus ₹1.4B in FY2022, a compound +5.5%/yr. Reported net income was ₹5.1M in FY2026, compounding −13.0%/yr from FY2022.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹1.7B
Latest YoY
−15.1%
Avg. 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.
−8.7%
Avg. 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.
+8.9%
Avg. growth/yr (9Y) 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.
−8.5%
Revenue +5.5%/yr
FY22 ₹1.4B
FY23 ₹2.2B
FY24 ₹1.6B
FY25 ₹2.0B
FY26 ₹1.7B
Net income −13.0%/yr
FY22 ₹9.0M
FY23 ₹5.2M
FY24 ₹5.7M
FY25 ₹2.5M
FY26 ₹5.1M

NEERAJ screens 60% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Neeraj Paper Marketing Ltd Fair Value". https://www.fairvalue-calculator.com/stock/NEERAJ

Peer Group

Paper & Paper Products · 117 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 56 · Top 25%
Fair Value upside −60% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth -2% · Below median
Debt / equity 0.11× · Lower than median

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

P/E (TTM) 42.4× · Pricier than 75% of peers
P/B 0.79× · Pricier than median
P/S (TTM) 0.14× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 14.0× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 26
FUTURE0 · sector 4
PAST7 · sector 12
HEALTH95 · sector 91
DIVIDEND0 · sector 48

VALUE 0: the price sits above our fair-value range.

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 19, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.55 R$3.80 -78%
UPM-Kymmene Oyj UPM €23.18 €14.21 -39%
Suzano S.A SUZ $8.02 $23.77 +196%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 109.40 kr 49.40 -55%
Shandong Sunpaper Co 002078 ¥13.94 ¥17.29 +24%
Holmen AB HOLMB kr 314.00 kr 217.72 -31%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.92 HK$8.74 +10%
Empresas CMPC S.A CMPC 1,000 CLP 1,253 CLP +25%
Xianhe Co 603733 ¥21.11 ¥21.06 -0%
Billerud AB BILL kr 74.55 kr 48.60 -35%

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Frequently asked questions

Is Neeraj Paper Marketing Ltd (NEERAJ) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹7.95 versus a price of ₹19.91, about −60% (overvalued).
What is the fair value of NEERAJ?
Our model-based fair value for Neeraj Paper Marketing Ltd is ₹7.95 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹19.91.
What is the quality score of NEERAJ?
Neeraj Paper Marketing Ltd has a Quality Score of 56/100. 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 revenue of Neeraj Paper Marketing Ltd (NEERAJ)?
Neeraj Paper Marketing Ltd reported trailing-twelve-month revenue of about ₹1.7B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of NEERAJ?
The net profit margin of Neeraj Paper Marketing Ltd is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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