---
title: "Malu Paper Mills Ltd (MALUPAPER) — Share Price, Financials & Analysis"
symbol: "MALUPAPER"
company: "Malu Paper Mills Ltd"
canonical: "https://tapetide.com/stocks/MALUPAPER"
isin: "INE383H01017"
nse_symbol: "MALUPAPER"
bse_code: "532728"
sector: "Forest Materials"
industry: "Paper & Paper Products"
market_cap_cr: 58.77
generated_at: "2026-09-13T20:15:01.235Z"
---

# Malu Paper Mills Ltd (MALUPAPER)

Canonical page: https://tapetide.com/stocks/MALUPAPER

## Company

- **NSE Symbol:** MALUPAPER
- **BSE Code:** 532728
- **ISIN:** INE383H01017
- **Sector:** Forest Materials
- **Industry:** Paper & Paper Products
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2006-04-05
- **CEO:** Mr. Punamchand Ramlal Malu
- **Employees:** 257
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** malupaper.com

## About

Incorporated in 1996, Malu Paper Mills Ltd is engaged in manufacturing of Pulp & Paper.[1]

## Latest Price

- **Price:** ₹34.53
- **Change:** +0.14 (+0.41%)
- **Open:** ₹33.9
- **Day High:** ₹34.89
- **Day Low:** ₹33.65
- **Previous Close:** ₹34.39
- **Volume:** 8781
- **As Of:** 2026-09-11T10:01:42+00:00

## Key Fundamentals

Observed at 2026-09-11T04:36:58.627917Z.

- **Market Cap:** ₹58.77 Cr
- **Classification:** Microcap
- **P/E (reported):** -4.9
- **EPS (TTM):** ₹-7.16
- **EPS (reported):** ₹0.52
- **Book Value:** ₹-14.94
- **Price to Book:** -2.37
- **Dividend Yield:** 0%
- **ROE:** 212.03%
- **ROCE:** -135.51%
- **Debt to Equity:** 256.36
- **Revenue (yearly):** ₹333.29 Cr
- **Net Income:** ₹-23.19 Cr
- **EBITDA:** ₹-7.07 Cr
- **52-Week High:** ₹44.11
- **52-Week Low:** ₹27
- **RSI (14):** 60.89

## Tapetide Score

- **Score:** 40 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Flat
- **Percentile:** 14.5 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 16.24 | 9% |
| growth | 55.45 | 9% |
| momentum | 57.77 | 12% |
| ownership | 50 | 24% |
| quality | 31.07 | 22% |
| valuation | 36.49 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -58.84% | 141.7% | 8.52% |
| ebitda margin growth | 28.89% | — | -133.54% | -196.36% |
| net income growth | 146.43% | 91.65% | -51% | 268.1% |
| revenue growth | 15.75% | 19.72% | 13% | 15% |
| roce | — | -324.32% | 417.81% | -19.52% |
| roe | — | — | 20.29% | -984.2% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 68.15 | 61.51 | 75.39 | 57.66 | 64.83 | 62.75 | 93.2 | 94.43 | 56.49 | 76.9 | 106.72 | 123.52 |
| Expenses | 64.04 | 57.2 | 70.59 | 56.76 | 65.76 | 63.8 | 92.51 | 99.19 | 59.63 | 79.99 | 102.23 | 117.67 |
| Operating Profit | 4.11 | 4.31 | 4.8 | 0.9 | -0.93 | -1.05 | 0.69 | -4.76 | -3.14 | -3.09 | 4.49 | 5.85 |
| OPM % | 6.03 | 7.01 | 6.37 | 1.56 | -1.43 | -1.67 | 0.74 | -5.04 | -5.56 | -4.02 | 4.21 | 4.74 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 2.62 | 2.58 | 3.1 | 2.41 | 2.68 | 2.82 | 3.51 | 2.54 | 3.11 | 2.92 | 2.82 | 2.59 |
| Depreciation | 1.25 | 1.25 | 1.26 | 1.29 | 1.29 | 1.3 | 1.45 | 1.37 | 1.37 | 1.37 | 1.37 | 1.43 |
| Profit before tax | 0.24 | 0.48 | 0.44 | -2.8 | -4.9 | -5.17 | -4.27 | -8.67 | -7.62 | -7.38 | 0.3 | 1.83 |
| Tax % | 25 | 27.08 | 79.55 | -29.64 | -25.1 | -29.01 | -33.96 | -29.18 | -26.64 | -30.89 | 1030 | 30.05 |
| Net Profit | 0.17 | 0.36 | 0.1 | -1.97 | -3.67 | -3.67 | -2.82 | -6.15 | -5.59 | -5.1 | -2.8 | 1.28 |
| EPS in Rs | 0.1 | 0.21 | 0.06 | -1.15 | -2.15 | -2.15 | -1.65 | -3.61 | -3.28 | -2.99 | -1.64 | 0.75 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 279 | 274 | 226 | 170 | 212 | 234 | 274 | 278 | 335 | 364 |
| Expenses | 261 | 251 | 213 | 164 | 208 | 235 | 258 | 279 | 341 | 360 |
| Operating Profit | 18 | 23 | 13 | 6 | 4 | -1 | 17 | -1 | -7 | 4 |
| OPM % | 6 | 9 | 6 | 3.4 | 1.7 | -0.4 | 6 | -0.3 | -1.9 | 1.1 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Interest | 12 | 10 | 8 | 8 | 8 | 9 | 11 | 11 | 11 | 11 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 |
| Profit before tax | 2 | 10 | 1 | -6 | -8 | -14 | 1 | -17 | -23 | -13 |
| Tax % | 32 | 26 | 39 | -6 | -24 | -25 | 39 | -29 | -16 | — |
| Net Profit | 1 | 7 | 1 | -6 | -6 | -10 | 1 | -12 | -20 | -12 |
| EPS in Rs | 0.86 | 4.35 | 0.39 | -3.38 | -3.67 | -6.13 | 0.53 | -7.11 | -11.51 | -7.16 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 7 | 7 | 14 | 14 | 7 | 0 | -11 | -10 | -23 | -43 |
| Borrowings | 110 | 101 | 89 | 88 | 93 | 104 | 123 | 132 | 145 | 153 |
| Other Liabilities | 18 | 34 | 21 | 22 | 33 | 34 | 22 | 29 | 33 | 54 |
| Total Liabilities | 152 | 159 | 140 | 140 | 151 | 155 | 151 | 167 | 172 | 181 |
| Fixed Assets | 84 | 80 | 79 | 80 | 76 | 71 | 68 | 65 | 67 | 68 |
| CWIP | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 5 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 67 | 77 | 60 | 60 | 74 | 84 | 83 | 97 | 105 | 113 |
| Total Assets | 152 | 159 | 140 | 140 | 151 | 155 | 151 | 167 | 172 | 181 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 20 | 19 | 19 | 15 | 4 | -2 | -9 | 9 | 4 | 7 |
| Cash from Investing Activity | 1 | 3 | -4 | -4 | -1 | 0 | -2 | -8 | -3 | -7 |
| Cash from Financing Activity | -22 | -22 | -16 | -11 | -2 | 2 | 11 | -2 | -1 | -1 |
| Net Cash Flow | 0 | 0 | -1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 20 | 18 | 15 | 11 | 2 | -2 | -11 | 2 | 1 | 1 |
| CFO/OP | 91 | 109 | 80 | 120 | 61 | -62 | 964 | 55 | -411 | -111 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 35 | 36 | 32 | 42 | 70 | 51 | 35 | 41 | 45 | 43 |
| Inventory Days | 57 | 62 | 61 | 62 | 101 | 99 | 90 | 108 | 86 | 68 |
| Days Payable | 42 | 64 | 44 | 58 | 115 | 77 | 43 | 55 | 53 | 74 |
| Cash Conversion Cycle | 50 | 34 | 49 | 46 | 56 | 73 | 82 | 94 | 79 | 36 |
| Working Capital Days | -51 | -53 | -58 | -78 | -112 | -99 | -95 | -84 | -108 | -121 |
| ROCE % | 15 | 11 | 16 | 8 | 1 | 0 | -4 | 9 | -4 | -9 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.95% | 69.95% | 69.95% | 69.95% | 69.8% | 69.8% | 69.8% | 69.8% | 69.8% | 69.8% | 69.8% | 69.8% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 23.89% | 24.38% | 24.59% | 24.46% | 24.64% | 24.45% | 24.33% | 24.4% | 24.38% | 24.43% | 24.22% | 24.36% |
| Others | 6.16% | 5.67% | 5.46% | 5.59% | 5.56% | 5.75% | 5.87% | 5.8% | 5.82% | 5.77% | 5.98% | 5.84% |
| No. of Shareholders | 8021 | 8184 | 9519 | 9330 | 9946 | 10214 | 9893 | 10023 | 9796 | 9765 | 9454 | 9253 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 5 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 33.02 | Buy |
| EMA (10) | 33.43 | Buy |
| SMA (20) | 32.36 | Buy |
| EMA (20) | 32.84 | Buy |
| SMA (50) | 32.17 | Buy |
| EMA (50) | 32.39 | Buy |
| SMA (100) | 32.23 | Buy |
| EMA (100) | 32.41 | Buy |
| SMA (200) | 32.84 | Buy |
| EMA (200) | 33.24 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 61.52 | Neutral |
| MACD (12,26,9) | 0.58 | Buy |
| Stochastic (14,3,3) | 80.4 | Sell |
| ADX (14) | 16.46 | Neutral |
| Williams %R (14) | -25.13 | Neutral |
| ATR (14) | 1.6 | High Volatility |
| ROC (12) | 8.86 | Buy |
| Stoch RSI (14) | 88.68 | Sell |
| UO (7,14,28) | 51.52 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5cc18d2e-2979-41e0-a6f1-35962fe63f55.pdf) |
| 2026-09-02 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b5e83691-a28b-4524-b460-82194ed9bf12.pdf) |
| 2026-09-01 | [Notice Of The Thirty-Third (33Rd) Annual General Meeting Of The Company Along With Annual Report 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f21562fc-0b7d-4b61-9374-49eebcf69a45.pdf) |
| 2026-08-28 | [Book Closure For The Purpose Of AGM.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cc082841-1ccc-4a9b-9565-b55b73fa8802.pdf) |
| 2026-07-24 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=40f1ad7e-b568-465c-8381-fb3938b0a612.pdf) |
| 2026-07-23 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3d9a99b5-8b45-40ae-a7f8-ce482f7d31b0.pdf) |
| 2026-07-16 | [Board Meeting Intimation for To Consider Approve And Take On Record The Unaudited Financial Results Of The Company For The Quarter Ended On 30Th June 2026 Along With The Limited Review Report For The Quarter Ended On 30Th June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2cf119e9-1ef3-43ac-be5b-bc7ff00c0748.pdf) |
| 2026-07-14 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6c3b1e08-1255-4026-871d-5e5c90a0a0c4.pdf) |
| 2026-07-01 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ac13276b-6e12-4f79-bcd9-0fb9f016ad97.pdf) |
| 2026-06-02 | [Compliances-Reg.24(A)-Annual Secretarial Compliance](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fe58c94c-c9a0-4af6-a604-c92f9833b115.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-23 | [The Board Of Directors In Their Meeting Held Today I.E. 23Rd July 2026 Have Considered And Approved The Un-Audited Financial Results Of The Company For The Quarter Ended 30Th June 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8072fbc2-06d1-4a5f-8139-8871df4ba571.pdf) |
| 2026-05-28 | [Results For The FY Ended 31/03/2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3dcb9933-e83b-4366-9239-bbd8dd84c04b.pdf) |
| 2026-02-11 | [Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bf7d9ba4-5d52-4126-b404-c48cad6b0703.pdf) |
| 2025-11-12 | [Financial Results For The Half Year Ended 30/09/2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=14ea1d69-b61a-4774-ad53-5f6359bc1f5b.pdf) |
| 2025-08-08 | [Results For The Quarter Ended 30-06-2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=053cc8a9-a3b1-4127-971c-1571c0a68d6f.pdf) |
| 2025-05-23 | [Results For The Quarter And Year End 31/03/2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=769ca0b3-a960-443b-9ea8-f2d6b0214e83.pdf) |
| 2024-11-13 | [The Board Has Considered And Approved The Un-Audited Standalone Financial Results Of The Company For The Quarter And Half Year Ended As On September 30, 2024 Along With The Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=97c48a49-f3fe-407b-8446-b6c078c86f5a.pdf) |
| 2024-08-13 | [Un-Audited Financial Results For The Quarter Ended 30-06-2024 Along With Limited Review Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e3353fb4-c1ab-4583-b618-67de2ec760a0.pdf) |
| 2024-05-18 | [Audited Financial Results For The Year Ended March 31, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=44e01580-6543-430c-856b-cb62f16f1cea.pdf) |
| 2023-11-21 | [Revised Unaudited Financial Results For The Quarter Ended On 30-09-2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=71ab4b8f-f6d0-4712-b4f7-b029ac47c730.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 6 Feb - CS V. Ramachandran resigned as secretarial auditor effective 06-02-2026 citing personal reasons. | [Intimation Upon Resignation Of Secretarial Auditors. 6 Feb - CS V. Ramachandran resigned as secretarial auditor effective 06-02-2026 citing personal reasons.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/346e7712-c3bc-4a12-81f5-f9216139f8fe.pdf) |
| 31 Mar - Trading window closed from April 1, 2026 until 48 hours after audited Q4/FY2026 results. | [Closure of Trading Window 31 Mar - Trading window closed from April 1, 2026 until 48 hours after audited Q4/FY2026 results.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/df0a5142-ef4e-423c-9555-66da4f677c7a.pdf) |
| 30 Apr - Malu Paper Mills reports 4.73 Cr borrowing and confirms it is not a Large Corporate. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 30 Apr - Malu Paper Mills reports 4.73 Cr borrowing and confirms it is not a Large Corporate.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/271aca01-9aba-48b5-82cf-03ee321f7e54.pdf) |
| 30 Apr - Malu Paper Mills reports 4.73 Cr borrowing and confirms it is not a Large Corporate. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 30 Apr - Malu Paper Mills reports 4.73 Cr borrowing and confirms it is not a Large Corporate.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/271aca01-9aba-48b5-82cf-03ee321f7e54.pdf) |
| 2 Feb - Board meeting Feb 11, 2026 to approve unaudited results for quarter ended Dec 31, 2025; trading window closed until 48 hours post-meeting. | [Board Meeting Intimation for To Consider Approve And Take On Record The Un-Audited Financial Results For The Quarter Ended On 31/12/2025 2 Feb - Board meeting Feb 11, 2026 to approve unaudited results for quarter ended Dec 31, 2025; trading window closed until 48 hours post-meeting.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/95bab617-99ee-459a-be82-41d1e525fc51.pdf) |
| 11 Feb - Q3 revenue Rs7,677.71L; quarter loss Rs509.78L; YTD loss Rs1,684.06L; auditor appointed; secured Maharashtra textbook tender. | [Board Meeting Outcome for Outcome Of Board Meeting 11 Feb - Q3 revenue Rs7,677.71L; quarter loss Rs509.78L; YTD loss Rs1,684.06L; auditor appointed; secured Maharashtra textbook tender.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f68dd0d3-2335-443f-acea-742eed9dc123.pdf) |
| 11 Feb - Q3 FY26 unaudited: Q3 sales Rs.7,677.71L; nine-month net loss Rs.1,684.06L; secured Maharashtra textbook supply tender. | [Results 11 Feb - Q3 FY26 unaudited: Q3 sales Rs.7,677.71L; nine-month net loss Rs.1,684.06L; secured Maharashtra textbook supply tender.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bf7d9ba4-5d52-4126-b404-c48cad6b0703.pdf) |
| — | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 15 Apr](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e38b46ae-039f-486e-a23d-027c0ae56c16.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/02440a8c-f464-4a19-a16e-ba64118a3ead.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/83ebbaf1-d5ed-4487-8daf-1321ebd304aa.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/aab3feb9-a4d2-4576-8b43-28b9c6b889cb.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d97652e6-623c-4c43-ab93-d38fe52f2446.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/74878532728.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/69627532728.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/65319532728.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/5327280319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/5327280318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/5327280317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532728/5327280316.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:15:01.235Z.