SOUTH INDIA PAPER MILLS LTD. (STHINPA) fair value: what the stock is really worth
As of Oct 14, 2026: fair value of SOUTH INDIA PAPER MILLS LTD. ₹108, price ₹117, upside -7.7%, quality 71 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range ₹68.36 – ₹186.72 · fair‑value band ₹85.39 – ₹140.40 · the ₹117.00 price screens above the ₹108.00 fair value. Dashed = 300-day average. As of Oct 4, 2026.
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The South India Paper Mills Limited manufactures and sells paper, paperboards, and cartons in India. The company provides corrugating case raw materials, including kraft liner substitutes, white kraft liners, fluting grades, high performance fluting and test liners, and various grades for packaging applications.
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The South India Paper Mills Limited manufactures and sells paper, paperboards, and cartons in India. The company provides corrugating case raw materials, including kraft liner substitutes, white kraft liners, fluting grades, high performance fluting and test liners, and various grades for packaging applications. It also offers plain brown boxes, glued or stapled closures, boxes, and shelf ready packaging products. In addition, it engages in the power generation activities. The company exports its products. The South India Paper Mills Limited was incorporated in 1959 and is based in Bengaluru, India.
Stock analysis
SOUTH INDIA PAPER MILLS LTD. (STHINPA) currently trades at ₹117.00, while our model-based Fair Value estimate is ₹108.00, so the stock looks roughly fairly valued today (gap 8.3%).
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹387.06 per share, and 16 of the 24 models we run sit above the ₹117.00 price.
Bear case: the Asset-Based group reads lowest at ₹79.43, and 8 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹85.39 (bear) to ₹140.40 (bull), the price of ₹117.00 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 71/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
SOUTH INDIA PAPER MILLS LTD. reported revenue of ₹4.3B in FY2026 versus ₹3.0B in FY2022, a compound +9.3%/yr. Reported net income was ₹107M in FY2026, compounding −16.1%/yr from FY2022.
Key figures
Market cap ₹2.2B (≈ $23.1M) · P/E ratio 14.9 · P/S ratio 0.37 · EPS (TTM) ₹7.86 · Dividend yield 0.0% · Net margin 2.5% · Return on equity 5.0% · Return on assets (EBIT) 2.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 68% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 24% fair-value upside, at −8%, STHINPA screens richer than that median.
Fair Value models
Bear₹85.39Fair Value ₹108.00Bull₹140.40
Price ₹117.00 · Upside -7.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹4.26 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF₹345.61₹682.34₹1,27676
Residual Income₹89.05₹89.16₹93.7476
Growth DCF₹337.94₹632.21₹1,12475
All 24 models by family
DCF Models
FCF DCF₹345.61₹682.34₹1,27676
Owner Earnings₹241.36₹486.35₹918.5472
5Y Revenue Exit₹197.95₹352.01₹559.2671
5Y EBITDA Exit₹214.31₹387.06₹603.9573
5Y P/E Exit₹132.52₹211.83₹298.6170
10Y Revenue Exit₹239.15₹404.62₹657.9765
10Y EBITDA Exit₹255.58₹430.28₹695.9567
10Y P/E Exit₹201.69₹301.94₹436.4964
Earnings-Based
Graham-Dodd₹38.95₹205.34₹284.2563
Lynch FV₹56.46₹80.66₹104.8661
PEG = 1.0₹56.46₹80.66₹104.8657
EPV₹101.37₹123.23₹142.0974
Multiples
P/E Multiple₹73.04₹97.39₹121.7363
P/S Multiple₹73.04₹97.39₹121.7358
P/B Multiple₹73.04₹97.39₹121.7355
EV/EBIT₹153.00₹216.35₹279.7065
EV/EBITDA₹165.28₹232.73₹300.1867
EV/Revenue₹127.65₹198.25₹268.8453
Asset-Based
NCAV (Graham)₹59.28₹79.43₹118.5554
Growth DCF
Growth DCF₹337.94₹632.21₹1,12475
Rev-Margin DCF₹197.95₹350.39₹555.8371
Economic Profit
Residual Income₹89.05₹89.16₹93.7476
ROIC Compounder₹101.37₹129.39₹174.8372
Growth Earnings
Growth-Adj P/E₹75.60₹108.00₹140.4067
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+17.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.9%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.7%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. 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.
−14.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.7%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.12% → 8%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −5.2% a year for the price.
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Peer Groupⓘ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.Paper & Paper Products · 122 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score71 · Top 25%
Fair Value upside−7.7% · Above median
Profitability
Return on equity (12 months)5.0% · Above median
Return on assets2.4% · Above median
Net margin (12 months)3.3% · Above median
Operating margin (12 months)9.4% · Top 25%
Growth and dividend
Revenue growth10.0% · Above median
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.32× · Above median
Valuation Multiplesvs Paper & Paper Products median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "SOUTH INDIA PAPER MILLS LTD. Fair Value". https://www.fairvalue-calculator.com/stock/STHINPA
Frequently asked questions
Is SOUTH INDIA PAPER MILLS LTD. (STHINPA) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of ₹108.00 versus a price of ₹117.00, about −8% upside (fairly valued).
What is the fair value of STHINPA?
Our model-based fair value for SOUTH INDIA PAPER MILLS LTD. is ₹108.00 (as of Oct 4, 2026), built from audited fundamentals. The current price: ₹117.00.
What is the quality score of STHINPA?
SOUTH INDIA PAPER MILLS LTD. has a Quality Score of 71/100. 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 SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
Our model-based price target is the fair value of ₹108.00 (as of Oct 4, 2026) from 24 valuation models. Cautious scenario ₹85.39, optimistic scenario ₹140.40. It is a calculation from audited fundamentals, not an analyst target.
What is the SOUTH INDIA PAPER MILLS LTD. stock forecast for 2026?
Our models put fair value at ₹108.00, about −8% upside versus a price of ₹117.00 (fairly valued). Cautious scenario ₹85.39, optimistic scenario ₹140.40. The calculation is refreshed regularly with new filings.
What is the revenue of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
SOUTH INDIA PAPER MILLS LTD. reported trailing-twelve-month revenue of about ₹4.4B (latest available figure, as of Oct 4, 2026).
Does SOUTH INDIA PAPER MILLS LTD. pay a dividend?
SOUTH INDIA PAPER MILLS LTD. currently shows a dividend yield of about 0.01% relative to its recent price (as of Oct 4, 2026).
What growth is priced into SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
For today's price to be fair in a discounted-cash-flow model, SOUTH INDIA PAPER MILLS LTD. would have to grow free cash flow by -1.3 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.9 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of STHINPA use?
Our models discount SOUTH INDIA PAPER MILLS LTD. at 10.9 %: a base by market capitalisation (nano), damped by beta 0.02, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SOUTH INDIA PAPER MILLS LTD. that is -1.3 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has SOUTH INDIA PAPER MILLS LTD. (STHINPA) delivered so far?
Over the past 5 years revenue at SOUTH INDIA PAPER MILLS LTD. grew +13.9 % a year. The price currently implies -1.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SOUTH INDIA PAPER MILLS LTD. (STHINPA) growing?
The median revenue growth in the sector is +13.3 % a year. That is the yardstick for the growth priced into SOUTH INDIA PAPER MILLS LTD. (-1.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The free-cash-flow yield on the price is 17.60 %: that much free cash flow SOUTH INDIA PAPER MILLS LTD. produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SOUTH INDIA PAPER MILLS LTD. it is ₹108.00 per share (as of Oct 4, 2026), against a price of ₹117.00. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is SOUTH INDIA PAPER MILLS LTD. stock overvalued or undervalued in 2026?
As of Oct 4, 2026, STHINPA trades above its calculated fair value: price ₹117.00, fair value ₹108.00, a gap of about −8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of STHINPA?
No. The price is what the market pays today (₹117.00); the fair value is what the company's own numbers justify (₹108.00). For SOUTH INDIA PAPER MILLS LTD. the two are ₹9.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is SOUTH INDIA PAPER MILLS LTD. worth?
The market values SOUTH INDIA PAPER MILLS LTD. at about ₹2.2B (market capitalisation, as of Oct 4, 2026). Per share that is ₹117.00; our models calculate a fair value of ₹108.00 per share.
What do the bullish and bearish scenarios say about STHINPA?
Our models span a range for SOUTH INDIA PAPER MILLS LTD.: cautious scenario ₹85.39, base ₹108.00, optimistic ₹140.40 per share (as of Oct 4, 2026, price ₹117.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of STHINPA?
SOUTH INDIA PAPER MILLS LTD. trades at a price-to-earnings ratio of 14.9 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹108.00 is built from several models across several years. Other multiples: P/B 1.0, P/S 0.5, EV/EBITDA 5.2.
How solid is the balance sheet of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
Balance-sheet figures for SOUTH INDIA PAPER MILLS LTD. (as of Oct 4, 2026): return on equity 5.0%, debt of 0.32 per unit of equity. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is STHINPA from its 52-week high?
SOUTH INDIA PAPER MILLS LTD. trades at ₹117.00, about 9% below its 52-week high of ₹128.95 and 68% above the low of ₹69.75 (as of Oct 14, 2026). Distance from the high says nothing about value: that is what the fair value of ₹108.00 is for.
Which stocks are comparable to SOUTH INDIA PAPER MILLS LTD.?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, The Navigator Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SOUTH INDIA PAPER MILLS LTD. stock attractive at the current price?
The data as of Oct 4, 2026: price ₹117.00, calculated fair value ₹108.00 (−8%), Quality Score 71/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of STHINPA calculated?
We run SOUTH INDIA PAPER MILLS LTD. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹108.00, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. SOUTH INDIA PAPER MILLS LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The closing price on Oct 14, 2026 was ₹117.00. Our model-based fair value is ₹108.00, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SOUTH INDIA PAPER MILLS LTD. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of SOUTH INDIA PAPER MILLS LTD.
How large is the market capitalisation of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The market capitalisation of SOUTH INDIA PAPER MILLS LTD. is ₹2.2B (≈ $23.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The price-to-sales ratio of SOUTH INDIA PAPER MILLS LTD. is 0.37 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
Earnings per share at SOUTH INDIA PAPER MILLS LTD. are ₹7.86 (price ÷ EPS = P/E 14.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The dividend yield of SOUTH INDIA PAPER MILLS LTD. is 0.0% (payout 0.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The net margin of SOUTH INDIA PAPER MILLS LTD. is 2.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The return on equity (ROE) of SOUTH INDIA PAPER MILLS LTD. is 5.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
On an EBIT basis the return on assets of SOUTH INDIA PAPER MILLS LTD. is 2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
The operating margin of SOUTH INDIA PAPER MILLS LTD. is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
Revenue at SOUTH INDIA PAPER MILLS LTD. is growing +10.0% versus a year earlier (3y avg +14.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SOUTH INDIA PAPER MILLS LTD. (STHINPA)?
Earnings per share at SOUTH INDIA PAPER MILLS LTD. are growing +410% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SOUTH INDIA PAPER MILLS LTD. (STHINPA) carry?
The net debt of SOUTH INDIA PAPER MILLS LTD. is ₹1.5B (fiscal year 2026, ≈ 4.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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