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Sundaram Multi Pap Limited (SUNDARAM) Fair Value & Analysis

Basic Materials · IN · Market cap ₹621M

SM Sundaram Multi Pap Limited SUNDARAM · NSE
Price₹1.13
Fair Value₹0.9900
Upside-12.4%
Quality56/100
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Expensive Growth
Thin margins · 2.3% net margin
Low debt · negative free cash flow
Ranks above peers (8/12)
Narrow moat 22/100
Evidence: Medium Range ₹0.6900 – ₹1.28 Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 4 days ago

Share price −11.7% over the past month.

A solid business, but screening 12% overvalued on our models.

What matters now

  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹0.6900 to ₹1.28) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹5.55 ₹1.04 Fair Value ₹0.9900 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹1.04 – ₹5.55 · fair‑value band ₹0.6900 – ₹1.28 · the ₹1.13 price screens above the ₹0.9900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sundaram Multi Pap Limited (SUNDARAM) currently trades at ₹1.13, while our model-based Fair Value estimate is ₹0.9900, implying the stock looks roughly 12.4% 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: medium).

Over the trailing twelve months, Sundaram Multi Pap Limited generated revenue of ₹1.4B at a net margin of 2.3%. Revenue grew 11.9% year over year. It earns a return on equity of 3.6%. Net debt stands at ₹211M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹0.6900 (bear case) to ₹1.28 (bull case); at ₹1.13, the current price sits within 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 53% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 0% fair-value upside, at -12%, SUNDARAM 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
ROIC Compounder ₹0.1300 ₹0.1500 ₹0.1800 72
Growth-Adj P/E ₹0.6900 ₹0.9900 ₹1.28 68
P/E Multiple ₹0.8600 ₹1.14 ₹1.43 63
All 15 models by family
DCF Models
Owner Earnings ₹0.3400 ₹0.5000 ₹0.7100 31
Earnings-Based
Graham-Dodd ₹0.4600 ₹1.25 ₹1.63 54
Lynch FV ₹0.2500 ₹0.3500 ₹0.4600 50
PEG = 1.0 ₹0.2500 ₹0.3500 ₹0.4600 46
EPV ₹0.1300 ₹0.1500 ₹0.1800 59
Multiples
P/E Multiple ₹0.8600 ₹1.14 ₹1.43 63
P/S Multiple ₹0.8600 ₹1.14 ₹1.43 58
P/B Multiple ₹0.8600 ₹1.14 ₹1.43 55
EV/EBIT ₹0.4300 ₹0.6000 ₹0.7600 53
EV/EBITDA ₹0.8700 ₹1.18 ₹1.49 54
EV/Revenue ₹0.3700 ₹0.5500 ₹0.7300 43
Asset-Based
NCAV (Graham) ₹0.9600 ₹1.28 ₹1.91 50
Economic Profit
Residual Income ₹1.32 ₹1.26 ₹1.02 61
ROIC Compounder ₹0.1300 ₹0.1500 ₹0.1800 72
Growth Earnings
Growth-Adj P/E ₹0.6900 ₹0.9900 ₹1.28 68

Widest divergence: Asset-Based (₹1.28) versus Economic Profit (₹0.1500). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) ₹1.4B
Revenue growth (YoY) +11.9%
Net margin 2.3%
Return on equity 3.6%
Free cash flow −₹81.4M FY2026
P/E ratio 16.1
More key figures
Operating margin 0.8%
EPS (TTM) ₹0.0700
EPS growth (YoY) +33.3%
Net debt ₹211M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 53 · Market factors (momentum, volatility) 26

Profitability 40
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 99
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

Sundaram Multi Pap Limited designs, manufactures, and markets paper stationery products for students in India. The company offers A4/A5/A3 books, original long books, college books, hard bound books, notebooks, sketch books, lekhan books, drawing books, practical books, laboratory books, graph books, scrap books, pocketbooks, six subject books, graph and …

Full company description

Sundaram Multi Pap Limited designs, manufactures, and markets paper stationery products for students in India. The company offers A4/A5/A3 books, original long books, college books, hard bound books, notebooks, sketch books, lekhan books, drawing books, practical books, laboratory books, graph books, scrap books, pocketbooks, six subject books, graph and map sheets, answer books and sheets, origami paper sheets, tinted sheets, duplicate books, cash memo books, delivery challan books, conference pads, and voucher books; exercise notebooks and long books; and project books, educational paper stationery, practical papers, drawing paper, pocket notebooks, case bound books, wiro notebooks, binding books, big long books, c-ruled registers, triplicate books, cash memos, rent receipts, and scribbling pads. It also provides office/corporate stationery products, as well as printing, writing, and packaging paper products. In addition, the company offers E-CLASS, an educational content for the students of Maharashtra State Board's 1st to 10th standards for various subjects available in English, Marathi, Semi English, Hindi, and Urdu medium as per the syllabus. It sells its products under the Sundaram brand. Sundaram Multi Pap Limited was founded in 1985 and is based in Palghar, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Sundaram Multi Pap Limited reported revenue of ₹1.4B in FY2026 versus ₹704M in FY2022, a compound +18.2%/yr. Reported net income was ₹31.8M in FY2026, compounding −5.0%/yr from FY2022.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹1.4B
Latest YoY
+7.6%
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.
+6.2%
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.
+22.1%
Avg. growth/yr (20Y) 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.
+3.6%
Revenue +18.2%/yr
FY22 ₹704M
FY23 ₹1.1B
FY24 ₹1.3B
FY25 ₹1.3B
FY26 ₹1.4B
Net income −5.0%/yr
FY22 ₹39.1M
FY23 ₹25.9M
FY24 −₹50.8M
FY25 −₹51.2M
FY26 ₹31.8M

SUNDARAM screens 12% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Sundaram Multi Pap Limited Fair Value". https://www.fairvalue-calculator.com/stock/SUNDARAM

Peer Group

Paper & Paper Products · 115 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 −34% · Below median
Return on equity (TTM) 4% · Above median
Return on assets 1% · Below median
Net margin (TTM) 2% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 12% · Top 25%
Debt / equity 0.03× · Lower than 75% of peers

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

P/E (TTM) 16.1× · Cheaper than median
P/B 0.68× · Cheaper than median
P/S (TTM) 0.45× · Cheaper than median
EV/EBITDA 11.1× · Pricier than median

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.

VALUE 0 · sector 27
FUTURE 60 · sector 4
PAST 14 · sector 12
HEALTH 98 · sector 91
DIVIDEND 0 · sector 54

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 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$8.21 HK$8.74 +6%
Empresas CMPC S.A CMPC 1,000 CLP 1,253 CLP +25%
Xianhe Co 603733 ¥21.11 ¥21.06 -0%
Billerud AB BILL kr 77.60 kr 48.60 -37%

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Frequently asked questions

Is Sundaram Multi Pap Limited (SUNDARAM) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹0.9900 versus a price of ₹1.13, about −12% (overvalued).
What is the fair value of SUNDARAM?
Our model-based fair value for Sundaram Multi Pap Limited is ₹0.9900 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1.13.
What is the quality score of SUNDARAM?
Sundaram Multi Pap Limited 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 Sundaram Multi Pap Limited (SUNDARAM)?
Sundaram Multi Pap Limited reported trailing-twelve-month revenue of about ₹1.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SUNDARAM?
The net profit margin of Sundaram Multi Pap Limited is about 2.3%, meaning it keeps roughly 2.3% 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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