JK PAPER LIMITED (JKPAPER): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹364.05 latest close · +4.3% over the last 90 sessions

₹364.05 month-end · −1.0% over 12 months

₹364.05 month-end · −0.7% over 3 years

₹364.05 month-end · +169.2% since Jan '19

52-week range ₹304.85 to ₹442.00 · 1-year volatility 36.0%

Was the rally earned?

1 year3 years5 years

-1%share price, 1 yearRoughly flat

The share price was roughly flat over 1 year (-1%).
The share count rose 6%.

Net profit growth-6 ptsNet profit fell about 6%, which lowers the price.

P/E change+11 ptsThe P/E rose from 18.3x to 20.3x, which lifts the price.

Share count change-6 ptsShare count rose 6%, which lowers the price.

-1%share price, 3 yearsRoughly flat

The share price was roughly flat over 3 years (-1%).
The share count rose 6%.

Net profit growth-131 ptsNet profit fell about 73%, which lowers the price.

P/E change+136 ptsThe P/E rose from 5.2x to 20.3x, which lifts the price.

Share count change-6 ptsShare count rose 6%, which lowers the price.

+75%share price, 5 yearsEarnings and multiple

Both mattered.

Per-share earnings added 31 points and the multiple added 44 points (P/E 14.7x to 20.3x).
The share count rose 8%.

Net profit growth+42 ptsNet profit rose about 37%, which lifts the price.

P/E change+44 ptsThe P/E rose from 14.7x to 20.3x, which lifts the price.

Share count change-11 ptsShare count rose 8%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with SESHASAYEE PAPER & BOARDS

How rough has the ride been?

Maximum drawdown-57.0%recovered 2021-03

1-year volatility36.0%annualised

Beta vs sector index1.103-year daily, correlation 0.47

Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-57.0% (2019-01 peak to 2020-03 low, recovered 2021-03)

-55.0% (2024-07 peak to 2025-02 low, not yet recovered)

-31.3% (2022-08 peak to 2023-07 low, recovered 2024-06)

Most recent volume spikes

2026-10-14: 6.8x the 50-day median, price +5.7% that day

2026-09-07: 7.4x the 50-day median, price +3.5% that day

2026-07-28: 9.7x the 50-day median, price -4.8% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

20.3xP/E todayNear its historic high

Against its own history86th percentile

CheapestMedian 9.0xDearest

Usual range 4.3x to 21.4x since 2019-01.

Against Process Industries20.3x vs 18.1x

This company

20.3x

Sector median

18.1x

12% above the Process Industries median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE31st▼ 8 pts vs a year ago
Op. margin68th▼ 10 pts vs a year ago
Revenue growth56th▲ 34 pts vs a year ago
EPS growth28th▲ 17 pts vs a year ago
Debt/equity ↓43rd▼ 9 pts vs a year ago
Cash cycle ↓72ndflat vs a year ago
P/E ↓45th▼ 12 pts vs a year ago
12M momentum61st▼ 5 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~5%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 9.3x, a holder earning 12%/yr needs earnings to grow about 5.3%/yr for 10 years, then trade at 15x.

Delivered11.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−6.2 ptsimplied minus delivered

Rank649thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	6.6%	7.5%	8.5%
15x	4.4%	5.3%	6.3%
20x	1.6%	2.5%	3.4%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 5.3%/yr

Looking back

Jan 2020Price implied 9%/yr; EPS has since grown −6%/yr (7.0 yrs)
Jan 2021Price implied 4%/yr; EPS has since grown −9%/yr (6.0 yrs)
Jan 2022Price implied 8%/yr; EPS has since grown 2%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹364.05
P/E: 20.3x
ROCE: 7.0%
Market Cap: ₹6603 cr
Revenue (TTM): ₹7319 cr
P/S: 0.9x
P/B: 1.2x
ROE: 5.9%
Operating Margin: 15.0%
Debt / Equity: 0.5x
Promoter Holding: 52.9%
12M Momentum: -1.0%

52-week range

₹304.85₹442.00

43% of the way from its 52-week low to its high

Price risk

1Y volatility

36.0%

Beta vs sector

1-year daily

1.17

Balance sheet & cash

Interest cover

operating profit ÷ interest

3.2x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.54x

Share count, 1Y

+7.1%

Are profits backed by cash?

7 of 7checks within rangeAll clear

Other income reliance12%Within range

Other income as a share of pre-tax profit (trailing twelve months): 12.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 24.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.54xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.54x (cash from operations ₹2,792 cr, net profit ₹1,817 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+8 daysWithin range

Debtor days are above the median of the previous three fiscal years by 8 days (28 vs 20). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-1 days / 2 yrsWithin range

Days payable changed by -1 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, promoters added 3.3 pts; DIIs added 3.1 pts.
The number of shareholders fell from 1.4 lakh to 1.3 lakh (-8%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters49.6%52.9%+3.3 pts

FIIs10.9%11.4%+0.5 pts

DIIs3.2%6.3%+3.1 pts

Public and others36.3%29.4%-6.9 pts

Number of shareholders

1.3 lakhshareholders-8% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−4.7%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like JK PAPER LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −22% to +32% vs the market, against −6% for all non-financial companies in the same months.
The gap against the base rate (+1.1%, 80% range −3.9% to +8.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge

Similar setups' median

−4.7%

All companies' median

−5.8%

Beat the market

44% vs 43%

50 past situations · 50 companies · 37 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
BIRLACORPN Non-Energy Minerals	Sep 2025	25x	7%	−4%	−19%	−32%
APOLLOTYRE Consumer Durables	Aug 2022	25x	7%	+18%	−6%	+41%
DCMSHRIRAM Process Industries	May 2025	31x	9%	+8%	−19%	−6%
KIRLOSENG Producer Manufacturing	Oct 2022	22x	10%	+29%	−9%	+90%
HUHTAMAKI Process Industries	Aug 2024	35x	—	+55%	−8%	−43%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
TRIVENI Process Industries	Jun 2025	30x	9%	−4%	−25%	+11%
KIRLOSIND Non-Energy Minerals	Jun 2024	30x	11%	+81%	−7%	−30%
TVSSRICHAK Consumer Durables	Nov 2023	47x	9%	+50%	−5%	−40%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to JK PAPER LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

JK LAKSHMI CEMENTJKLAKSHMI

Non-Energy Minerals

68%similar

revenuemarket cap

DALMIA BHARATDALBHARAT

Non-Energy Minerals

66%similar

revenue growthdebt/equity

IRCON INTERNATIONALIRCON

Industrial Services

63%similar

P/Erevenue

KIRLOSKAR FERROUS INDUSTRIES LKIRLFER

Non-Energy Minerals

63%similar

revenuemarket cap

GLOBUS SPIRITSGLOBUSSPR

Consumer Non-Durables

62%similar

P/Edebt/equity

DEEPAK NITRITEDEEPAKNTR

Process Industries

64%similar

revenuerevenue growth

JUBILANT INGREVIAJUBLINGREA

Process Industries

64%similar

operating marginvolatility

POLYPLEX CORPORATIONPOLYPLEX

Process Industries

63%similar

revenuevolatility

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jun '23

2026
OctPriceVolume reached 6.8x its 50-day median on 2026-10-14; price +5.7% that day.
SepPeer rankMoved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).
JulPriceVolume reached 26.0x its 50-day median on 2026-07-22; price +3.6% that day.
JunPromoterPromoter holding rose 3.3 pts to 52.9%.
JunResultsRevenue (TTM) reached a new high of ₹7,093 cr.
JunSharesShare count is up 7.1% over 12 months.
MayPriceVolume reached 12.8x its 50-day median on 2026-05-19; price +6.6% that day.
FebPriceVolume reached 13.0x its 50-day median on 2026-02-11; price +10.9% that day.

Show 22 earlier events

2025
DecPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
OctPriceVolume reached 24.5x its 50-day median on 2025-10-03; price +8.5% that day.
SepPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
AugPriceVolume reached 111.0x its 50-day median on 2025-08-25; price +17.4% that day.
JunValuationP/E crossed above the 90th percentile of its own history to date (15.6x).
JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the top quartile).
MarPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
FebPriceFell 55% from the Jul 2024 peak to the Feb 2025 low.
2024
OctPriceVolume reached 10.7x its 50-day median on 2024-10-04; price +5.8% that day.
SepInstitutionsFII + DII holding rose 4.8 pts over 1 quarter to 17.8%.
SepPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
JulPriceVolume reached 41.1x its 50-day median on 2024-07-02; price +18.5% that day.
JunResultsYear-on-year EPS growth turned negative.
JunPriceRegained the 2022-08 peak, 11 months after the low.
JunPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
JunPriceVolume reached 20.8x its 50-day median on 2024-06-14; price +10.0% that day.
JanPriceVolume reached 8.3x its 50-day median on 2024-01-16; price +1.7% that day.
2023
DecPriceVolume reached 9.8x its 50-day median on 2023-12-27; price +4.5% that day.
JulPriceFell 31% from the Aug 2022 peak to the Jul 2023 low.
JulPriceVolume reached 14.7x its 50-day median on 2023-07-25; price +4.1% that day.
JunResultsRevenue (TTM) reached a new high of ₹6,437 cr.
JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	20.3x	₹7319 cr	5.9%	7.0%	0.5x
2026-10	20.7x	₹7319 cr	5.9%	7.0%	0.5x
2026-09	22.0x	₹7319 cr	5.9%	7.0%	0.5x
2026-08	25.7x	₹7093 cr	5.0%	7.0%	0.5x
2026-07	25.4x	₹7093 cr	5.0%	7.0%	0.5x
2026-06	22.8x	₹7093 cr	5.0%	7.0%	0.5x
2026-05	25.8x	₹6804 cr	4.7%	9.0%	0.4x
2026-04	25.2x	₹6804 cr	4.7%	9.0%	0.4x
2026-03	21.4x	₹6804 cr	4.7%	9.0%	0.4x
2026-02	21.4x	₹6719 cr	5.5%	9.0%	0.4x
2026-01	19.3x	₹6719 cr	5.5%	9.0%	0.4x
2025-12	21.0x	₹6719 cr	5.5%	9.0%	0.4x
2025-11	18.3x	₹6653 cr	6.4%	9.0%	0.4x
2025-10	19.7x	₹6653 cr	6.4%	9.0%	0.4x
2025-09	19.2x	₹6653 cr	6.4%	9.0%	0.4x
2025-08	15.8x	₹6706 cr	7.5%	9.0%	0.4x
2025-07	15.1x	₹6706 cr	7.5%	9.0%	0.4x
2025-06	15.6x	₹6706 cr	7.5%	9.0%	0.4x
2025-05	10.2x	₹6748 cr	12.1%	20.0%	0.4x
2025-04	8.7x	₹6748 cr	12.1%	20.0%	0.4x
2025-03	8.7x	₹6748 cr	12.1%	20.0%	0.4x
2025-02	6.3x	₹6822 cr	15.5%	20.0%	0.4x
2025-01	8.0x	₹6822 cr	15.5%	20.0%	0.4x
2024-12	9.0x	₹6822 cr	15.5%	20.0%	0.4x
2024-11	7.5x	₹6789 cr	19.0%	20.0%	0.4x
2024-10	8.2x	₹6789 cr	19.0%	20.0%	0.4x
2024-09	8.0x	₹6789 cr	19.0%	20.0%	0.4x
2024-08	6.9x	₹6659 cr	22.4%	20.0%	0.4x
2024-07	7.6x	₹6659 cr	22.4%	20.0%	0.4x
2024-06	8.2x	₹6659 cr	22.4%	20.0%	0.4x
2024-05	5.5x	₹6437 cr	29.9%	28.0%	0.7x
2024-04	5.4x	₹6437 cr	29.9%	28.0%	0.7x
2024-03	4.6x	₹6437 cr	29.9%	28.0%	0.7x
2024-02	5.3x	₹6437 cr	29.9%	28.0%	0.7x
2024-01	6.2x	₹6437 cr	29.9%	28.0%	0.7x
2023-12	5.8x	₹6437 cr	29.9%	28.0%	0.7x
2023-11	5.2x	₹6437 cr	29.9%	28.0%	0.7x
2023-10	5.4x	₹6437 cr	29.9%	28.0%	0.7x
2023-09	5.6x	₹6437 cr	29.9%	28.0%	0.7x
2023-08	5.2x	₹6437 cr	29.9%	28.0%	0.7x
2023-07	4.7x	₹6437 cr	29.9%	28.0%	0.7x
2023-06	4.5x	₹6437 cr	29.9%	28.0%	0.7x
2023-05	10.3x	₹3969 cr	18.2%	16.0%	1.0x
2023-04	11.8x	₹3969 cr	18.2%	16.0%	1.0x
2023-03	11.9x	₹3969 cr	18.2%	16.0%	1.0x
2023-02	12.1x	₹3969 cr	18.2%	16.0%	1.0x
2023-01	12.9x	₹3969 cr	18.2%	16.0%	1.0x
2022-12	12.8x	₹3969 cr	18.2%	16.0%	1.0x
2022-11	13.1x	₹3969 cr	18.2%	16.0%	1.0x
2022-10	13.0x	₹3969 cr	18.2%	16.0%	1.0x
2022-09	11.8x	₹3969 cr	18.2%	16.0%	1.0x
2022-08	13.1x	₹3969 cr	18.2%	16.0%	1.0x
2022-07	10.8x	₹3969 cr	18.2%	16.0%	1.0x
2022-06	9.2x	₹3969 cr	18.2%	16.0%	1.0x
2022-05	23.7x	₹2751 cr	9.4%	10.0%	1.1x
2022-04	25.3x	₹2751 cr	9.4%	10.0%	1.1x
2022-03	21.5x	₹2751 cr	9.4%	10.0%	1.1x
2022-02	15.8x	₹2751 cr	9.4%	10.0%	1.1x
2022-01	15.4x	₹2751 cr	9.4%	10.0%	1.1x
2021-12	14.5x	₹2751 cr	9.4%	10.0%	1.1x

Older months are in the live observatory.

Methodology and data notes