Shreyans Industries Limited (SHREYANIND) AI Stock Analysis

• Market Cap: ₹2.06B
• 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: ₹157.00 ▼(-11.55% 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

Low leverage and strong equity base

A high equity ratio and low debt-to-equity provide durable financial flexibility, lowering refinancing and solvency risk. This supports sustained capex, working capital funding, and resilience through cyclicality in the paper business, enabling long-term strategic choices without heavy leverage.

Improving operational efficiency (EBIT margin)

Significant improvement in EBIT margin indicates the company has tightened operations or reduced unit costs. Sustained higher operating margins enhance cash generation potential, provide buffer against raw-material inflation, and create scope to reinvest in capacity or sustain returns even if top-line growth is uneven.

Stable B2B paper and packaging business model

A core B2B manufacturing model in paper and packaging ties revenues to recurring industrial and packaging demand, which is structurally linked to consumption and e-commerce growth. This end-market stickiness offers predictable volume baselines and opportunities for long-term customer relationships and contract renewals.

Negative Factors

Weak cash conversion and FCF volatility

Decreasing operating cash flow and volatile or negative free cash flow impair the company's ability to fund maintenance capex, invest in growth, and meet short-term obligations without tapping reserves. Persistent cash conversion issues constrain strategic flexibility and raise liquidity risk over months.

Declining net profit margin

A falling net margin signals pressure from input costs or weaker pricing power. If sustained, margin erosion will reduce retained earnings, limit capital spending and dividend capacity, and magnify the impact of revenue volatility on long-term profitability and balance-sheet strengthening.

Earnings volatility and EPS contraction

Modest revenue growth alongside a ~25% EPS decline points to earnings volatility from margin swings or non-operating items. Persistent EPS contraction undermines reinvestment and investor return potential, and indicates sensitivity to cyclic inputs and demand, elevating medium-term performance risk.

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	6.99B	5.84B	3.66B	5.40B
Gross Profit	1.84B	2.10B	2.39B	1.43B	1.09B	1.77B
EBITDA	1.04B	1.31B	1.33B	308.21M	259.67M	466.73M
Net Income	470.60M	506.01M	874.21M	99.56M	87.76M	319.61M
Balance Sheet
Total Assets	6.41B	6.15B	5.60B	4.31B	3.98B	3.82B
Cash, Cash Equivalents and Short-Term Investments	2.59B	2.42B	1.56B	555.26M	841.13M	716.02M
Total Debt	572.86M	449.00M	340.41M	614.55M	655.74M	584.96M
Total Liabilities	2.02B	1.89B	1.77B	1.99B	1.72B	1.66B
Stockholders Equity	4.39B	4.26B	3.83B	2.32B	2.26B	2.16B
Cash Flow
Free Cash Flow	6.64M	-13.66M	527.37M	101.69M	-65.61M	46.09M
Operating Cash Flow	171.27M	449.50M	783.16M	195.06M	144.23M	529.96M
Investing Cash Flow	-212.07M	-447.54M	-589.70M	-57.54M	-159.18M	-615.66M
Financing Cash Flow	40.82M	-1.67M	-194.50M	-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 148.81, above the 50-day MA of 157.69, and below the 200-day MA of 200.17, indicating a neutral trend. The MACD of -3.39 indicates Negative momentum. The RSI at 48.30 is Neutral, neither overbought nor oversold. The STOCH value of 57.09 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	₹3.70B	19.63	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SHREYANIND	61 Neutral	₹2.06B	-23.74	―	1.72%	6.00%	-19.96%
SHIVATEX	59 Neutral	₹1.76B	36.61	―	0.33%	15.16%	780.57%
DCMNVL	52 Neutral	₹2.11B	-56.98	―	―	-1.97%	-44.80%
MARALOVER	47 Neutral	₹1.66B	8.66	―	―	-0.90%	-304.07%
BASML	44 Neutral	₹1.60B	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.