Integrated Filing — IndAS



General information about company

Scrip Code 516022
NSE Symbol STARPAPER
MSEI Symbol NOTLISTED
ISIN INE733A01018
Name of company STAR PAPER MILLS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 25-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 18-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment PAPER AND PAPER BOARD
Start date and time of board meeting 25-05-2026   18:45:00
End date and time of board meeting 25-05-2026   19:35:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 29-05-2025
Indicate Company website link for updated RPT policy of the Company www.starpapers.com
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
No loan taken by the company.



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 11,258.51 40,993.82
Other income (556.50) 2,364.26
Total income 10,702.01 43,358.08
2 Expenses
(a) Cost of materials consumed 4,549.63 20,199.70
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 1,846.79 1,407.12
(d) Employee benefit expense 788.26 3,150.81
(e) Finance costs 21.40 93.08
(f) Depreciation, depletion and amortisation expense 215.19 697.12
(f) Other Expenses
1 Power and Fuel 1,761.36 6,749.35
2 Other expenses 1,867.91 7,638.13
Total other expenses 3,629.27 14,387.48
Total expenses 11,050.54 39,935.31
3 Total profit before exceptional items and tax (348.53) 3,422.77
4 Exceptional items 0.00 0.00
5 Total profit before tax (348.53) 3,422.77
6 Tax expense
7 Current tax 118.96 794.77
8 Deferred tax (338.34) (647.34)
9 Total tax expenses (219.38) 147.43
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (129.15) 3,275.34
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period (129.15) 3,275.34
17 Other comprehensive income net of taxes (24.91) 10.45
18 Total Comprehensive Income for the period (154.06) 3,285.79
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 1,560.83 1,560.83
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 69,269.06
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.83 20.98
Diluted earnings (loss) per share from continuing operations -0.83 20.98
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.83 20.98
Diluted earnings (loss) per share from continuing and discontinued operations -0.83 20.98
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes: 1. The above audited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 25th May, 2026. 2.The above statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable. 3.(a) Other Income includes unrealized gain (loss) on fair value of investments in the units of Mutual Fund Rs. 409.25 lakhs for the year ended 31st March, 2026 ( Rs. 1022.16 lakhs for the year ended 31st March, 2025) and for the quarter ended 31st March, 2026 Rs. (1223.10) lakhs ( Rs. 465.32 lakhs for the quarter ended 31st December, 2026 and Rs. (96.62) lakhs for the quarter ended 31st March, 2025). (b) Other Income for the quarter and year ended 31st March, 2026 also includes insurance claim of Rs. 384.00 lakhs received subsequent to the Balance-Sheet date against loss of building and machinery due to fire in the finishing house in the earlier year. 4. Subsequent to the Balance-Sheet date, the Board of Directors of the Company has recommended a final dividend of Rs. 2.50/- per share (25%) to be paid on fully paid-up equity shares of face value of Rs. 10 each in respect of the financial year ended 31st March, 2026. This equity dividend is subject to approval by the shareholders at the ensuing Annual General Meeting and has not been included as a liability in this financial statements. The estimated amount of final dividend to be paid amounts to Rs. 390.21 lakhs. 5. During the year, the carrying value of the deferred tax liabilities has been reassessed considering the variation in the indexation scheme and rate of taxation, etc. and Rs. 490.00 lakhs has been written back in this respect and included under deferred tax for the year ended 31st March, 2026. 6. The Company operates in single operating segment of Paper, Paper Board and related products. 7. The figures for the quarter ended March 31 are the balancing figures between the audited figures in respect of financial years ended March 31 and the published unaudited year-to-date figures upto nine months ended December 31 of the respective financial years which were subjected to limited review by the statutory auditors of the company. 8. Figures for the previous period are re-classified/re-arranged/re-grouped, wherever necessary, to correspond with the current period’s classification/disclosure.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 42,005.16
Capital work-in-progress 413.60
Investment property
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 1,536.29
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets
1 other financial assets 201.62
Total of other non-current financial assets 201.62
Total non-current financial assets 1,737.91
Deferred tax assets (net)
Other non-current assets
1 Other non-current assets 1,619.29
Total of other non-current assets 1,619.29
Total non-current assets 45,775.96
2 Current assets
Inventories 11,697.02
Current financial asset
Current investments 23,149.20
Trade receivables, current 675.57
Cash and cash equivalents 933.59
Bank balance other than cash and cash equivalents 274.39
Loans, current 0.00
Other current financial assets
Total of other current financial assets 505.80
Total current financial assets 25,538.55
Current tax assets (net)
Other current assets
1 Other current assets 672.04
2 Biological assets other than bearer plants 87.18
Total of other current assets 759.22
Total current assets 37,994.79
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 83,770.75
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,560.83
Other equity 69,269.06
Total equity attributable to owners of parent 70,829.89
Non controlling interest
Total equity 70,829.89
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease liabilities 354.02
2 other non-current financial liabilities 1,032.32
Total of other non-current financial liabilities 1,386.34
Total non-current financial liabilities 1,386.34
Provisions, non-current 312.55
Deferred tax liabilities (net) 6,434.67
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 8,133.56
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1,316.88
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 666.81
Total Trade payable 1,983.69
Other current financial liabilities
1 lease liabilities 76.61
2 Other current financial liabilities 1,694.66
Total of other current financial liabilities 1,771.27
Total current financial liabilities 3,754.96
Other current liabilities 969.84
1 Other current liabilities 969.84
Total of other current liabilities 969.84
Provisions, current 82.50
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 4,807.30
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 12,940.86
Total equity and liabilites 83,770.75
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit and loss (33.31) 13.96
Total Amount of items that will not be reclassified to profit and loss (33.31) 13.96
2 Income tax relating to items that will not be reclassified to profit or loss (8.40) 3.51
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income (24.91) 10.45



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 3,422.77
Adjustments for reconcile profit (loss)
Adjustments for finance costs 93.08
Adjustments for decrease (increase) in inventories 1,841.07
Adjustments for decrease (increase) in trade receivables, current (91.08)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets (32.20)
Adjustments for other financial assets, non-current (497.15)
Adjustments for other financial assets, current (565.22)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (29.57)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities (342.74)
Adjustments for depreciation and amortisation expense 697.12
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 99.44
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) (469.34)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 504.53
Net cash flows from (used in) operations 3,927.30
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,017.94
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 2,909.36
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 89.06
Purchase of property, plant and equipment 866.98
Proceeds from sales of investment property 8,923.97
Purchase of investment property 12,290.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 109.56
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 470.73
Net cash flows from (used in) investing activities (3,563.66)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 67.50
Dividends paid 544.02
Interest paid 61.73
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (3.48)
Net cash flows from (used in) financing activities (676.73)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (1,331.03)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (1,331.03)
Cash and cash equivalents cash flow statement at beginning of period 2,264.62
Cash and cash equivalents cash flow statement at end of period 933.59





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 LODHA & CO., LLP CHARTERED ACCOUNTANTS, KOLKATA Yes 31-03-2027


Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 STAR PAPER MILLS LIMITED KAVITA MARKETING PRIVATE LIMITED Group company Any other transaction Rent etc of a flat 17.92 approved by audit committee 14.66 0.00 0.00 Textual Information(1)
2 STAR PAPER MILLS LIMITED MRS. MADHU MISHRA relative of KMP Any other transaction car lease rent paid/provided 21.48 approved by audit committee 10.74 2.08 2.08 Textual Information(2)
3 STAR PAPER MILLS LIMITED MR. G.P. GOENKA relative of Director Purchase of goods or services 342.00 advisory fee to Chairman Emeritus-approved by Audit Committee 171.00 30.78 0.00 Textual Information(3)
4 STAR PAPER MILLS LIMITED MR. S.V. GOENKA Non-executive Director Any other transaction Director's sitting fees as approved from time to time by Board/Committee 1.60 0.00 0.00
5 STAR PAPER MILLS LIMITED ISG TRADERS LIMITED Promoter Group Entity Any other transaction Brand usage fees 0.75% of turnover approved by the audit committee 171.20 0.00 0.00 Textual Information(4)
6 STAR PAPER MILLS LIMITED ISG TRADERS LIMITED Promoter Group Entity Any other transaction security deposit rec'd. security deposit rec'd. 0.00 5.00 5.00
7 STAR PAPER MILLS LIMITED ISG TRADERS LIMITED Promoter Group Entity Any other transaction Interest payable interest payable 0.28 2.72 3.00
8 STAR PAPER MILLS LIMITED KAVITA MARKETING PRIVATE LIMITED Group company Any other transaction security deposit given security deposit given 0.00 35.00 35.00
9 STAR PAPER MILLS LIMITED MRS. MADHU MISHRA relative of KMP Any other transaction security deposit given security deposit given 0.00 14.00 14.00
Total value of transaction during the reporting period 369.48



Text Block

Textual Information(1) Value of transaction during the period is exclusive of GST, if any and Acutal Electricity charges (Rs. 0.10 lac)
Textual Information(2) Value of transaction during the period is exclusive of GST.
Textual Information(3) Value of transaction during the period is exclusive of GST.
Textual Information(4) The amount of Rs. 171.20 lacs is inclusive of 18% GST.