Shreyans Industries Limited (SHREYANIND) AI Stock Analysis

• Market Cap: ₹2.13B
• Dividend Yield: 1.72%
• Average Volume (3M): 1.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: 6.00%
• EPS Growth: -19.96%
• Country: IN
• Employees: 1,352
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Paper, Lumber & Forest Products
• EPS (TTM): -1.84
• Shares Outstanding: 13,825,000
• 10 Day Avg. Volume: 1,181
• 30 Day Avg. Volume: 1,229
• PEG Ratio: -0.11
• Price to Book (P/B): 0.56
• Price to Sales (P/S): 0.38
• P/FCF Ratio: -174.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹148.00 ▼(-16.62% Downside)
• Action: Reiterated Date: 11/13/25
• Date: Action: Reiterated 11/13/25

The overall stock score of 61 reflects a combination of stable financial performance with strong equity ratios and low leverage, but concerns about cash flow volatility and mixed profitability trends. The technical analysis indicates bearish momentum, with the stock trading below key moving averages and showing oversold conditions. However, the attractive valuation with a low P/E ratio suggests potential upside if financial performance stabilizes.

Positive Factors

Balance sheet strength

A high equity ratio and low leverage create durable financial flexibility: the company can fund working capital, absorb commodity cycles in pulp/paper, and pursue modest capex without stressing creditors. This capital structure reduces default risk and supports multi-month resilience.

Improving operational margins

Sustained improvement in EBIT margin indicates better cost control and operating leverage in manufacturing processes. For a paper producer, higher operational efficiency helps contain raw-material and energy cost volatility and supports long-term margin sustainability even when top-line growth is uneven.

Modest revenue growth trend

Positive revenue growth, albeit modest, signals steady demand for paper and packaging products. In a B2B-oriented manufacturing model, even slow but consistent top-line expansion supports scale advantages, predictable production planning, and the ability to improve cash conversion if operational controls remain in place.

Negative Factors

Cash flow volatility

Declining operating cash flow and negative free cash flow undermine the company’s ability to self-fund capex, pay down obligations, or sustain dividends. In capital-intensive paper manufacturing, persistent weak cash conversion can force external financing, constrain reinvestment, and raise long-term funding risk.

Declining net profit margin

A falling net margin indicates rising input costs, pricing pressure, or inefficiencies that erode returns. For a commodity-exposed paper business, structural margin deterioration reduces retained earnings available for reinvestment and makes operating performance more sensitive to raw-material and energy cycles over coming quarters.

Earnings contraction

A sharp decline in EPS points to material earnings stress beyond normal seasonality. Sustained earnings contraction weakens internal capital generation, limits strategic flexibility, and increases vulnerability to cyclical demand shocks in paper markets, making multi-quarter recovery more challenging.

Shreyans Industries Limited Business Overview & Revenue Model

Company Description

Shreyans Industries Limited engages in the manufacture and sale of writing and printing papers in India and internationally. The company offers high brightness, cream wove, colored, duplicating, surface sized printing, azure laid, maplitho, stamp, inland letter, postal envelope, offset, cover, super calendared, rail ticket, and super printing paper products. It serves publishers, copy manufacturers, job printers, various states text book boards, exporters of notebooks and diaries, printing and stationary department, railways, P&T departments, security press, etc. Shreyans Industries Limited was formerly known as Shreyans Paper Mills Ltd. and changed its name to Shreyans Industries Limited in October 1992. The company was incorporated in 1979 and is based in Ludhiana, India.

How the Company Makes Money

Shreyans Industries Limited primarily makes money by selling the paper products it manufactures to customers (typically through B2B sales). Revenue is generated from (i) sale of manufactured paper and related paper-based products, with pricing influenced by paper grades, order volumes, and prevailing pulp/paper market cycles; and (ii) ancillary operating income that can arise in paper mills from by-products and other mill-linked activities, but specific breakdowns for SHREYANIND are not available here (null). The company’s earnings are therefore mainly driven by sales volumes, realized selling prices, input costs (e.g., pulp/wood/fiber, chemicals, energy, freight), capacity utilization, and working-capital management. Specific long-term customer contracts, named partnerships, or segment-level revenue splits are not available (null).

Shreyans Industries Limited Financial Statement Overview

Summary

Shreyans Industries Limited demonstrates a stable financial foundation with strong equity ratios and low leverage. However, there are concerns regarding cash flow volatility and mixed profitability trends. The company should focus on stabilizing revenue streams and enhancing cash conversion to strengthen its overall financial health.

Income Statement

The income statement reveals a mixed performance. Gross profit margins are relatively healthy, but there's a noticeable decline in net profit margin from the previous year, indicating increased costs or reduced pricing power. Revenue has shown volatility, with growth in some years and decline in others, reflecting market challenges. The EBIT margin has improved significantly, suggesting better operational efficiency. Overall, the income statement reflects moderate profitability with some concerns about revenue stability.

Balance Sheet

The balance sheet is strong, showing a high equity ratio and a low debt-to-equity ratio, indicating financial stability and low leverage risk. Return on equity is positive, reflecting efficient use of equity. The company's equity base has grown, supporting its financial health. The balance sheet suggests a solid financial position with a focus on maintaining low leverage.

Cash Flow

Cash flow analysis indicates some challenges. Operating cash flow has decreased, and free cash flow has shown volatility, with a negative figure in the most recent year. The free cash flow to net income ratio is concerning, indicating potential issues in converting income to cash. These factors highlight risks in cash generation and capital management, requiring attention to improve liquidity.

Breakdown	TTM	Mar 2025	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	6.47B	6.35B	8.65B	5.84B	3.66B	5.40B
Gross Profit	1.84B	2.10B	2.60B	1.43B	1.09B	1.77B
EBITDA	1.04B	1.31B	1.12B	308.21M	259.67M	466.73M
Net Income	470.60M	506.01M	734.58M	99.56M	87.76M	319.61M
Balance Sheet
Total Assets	6.41B	6.15B	4.82B	4.31B	3.98B	3.82B
Cash, Cash Equivalents and Short-Term Investments	2.59B	2.42B	1.55B	555.26M	841.13M	716.02M
Total Debt	572.86M	449.00M	422.75M	614.55M	655.74M	584.96M
Total Liabilities	2.02B	1.89B	1.80B	1.99B	1.72B	1.66B
Stockholders Equity	4.39B	4.26B	3.02B	2.32B	2.26B	2.16B
Cash Flow
Free Cash Flow	6.64M	-13.66M	837.30M	101.69M	-65.61M	46.09M
Operating Cash Flow	171.27M	449.50M	903.58M	195.06M	144.23M	529.96M
Investing Cash Flow	-212.07M	-447.54M	-627.42M	-57.54M	-159.18M	-615.66M
Financing Cash Flow	40.82M	-1.67M	-275.94M	-136.79M	14.41M	85.86M

Shreyans Industries Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 177.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHREYANIND, the sentiment is Neutral. The current price of 177.5 is above the 20-day moving average (MA) of 148.85, above the 50-day MA of 158.26, and below the 200-day MA of 200.50, indicating a neutral trend. The MACD of -3.86 indicates Negative momentum. The RSI at 53.15 is Neutral, neither overbought nor oversold. The STOCH value of 50.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SHREYANIND.

Shreyans Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANOMAY	69 Neutral	₹3.68B	19.63	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SHREYANIND	61 Neutral	₹2.13B	-23.74	―	1.72%	6.00%	-19.96%
SHIVATEX	59 Neutral	₹1.76B	36.61	―	0.33%	15.16%	780.57%
DCMNVL	52 Neutral	₹2.04B	-56.98	―	―	-1.97%	-44.80%
MARALOVER	47 Neutral	₹1.68B	8.66	―	―	-0.90%	-304.07%
BASML	44 Neutral	₹1.58B	22.90	―	―	-8.50%	―

Shreyans Industries Limited Corporate Events

Shreyans Industries Closes Trading Window Ahead of December Quarter Results

Shreyans Industries Limited has announced the closure of its trading window for dealings in its securities from 1 January 2025 until 48 hours after the declaration of its unaudited financial results for the quarter and nine months ended 31 December 2025. The restriction, applicable to promoters, directors, key managerial personnel, designated and connected persons and their immediate relatives, is in line with SEBI’s Prohibition of Insider Trading Regulations, underscoring the company’s adherence to regulatory norms on unpublished price-sensitive information and safeguarding market integrity for investors.