The evidence leans negative1 supporting, 3 against, 2 worth knowing
Supporting
net margin has widened from -3.8% to 0.5% across four quarters
Against
trading 1% below its 200-day average
down 13% over twelve months
1 of the scans it matches has historically underperformed the market
Worth knowing
RSI at 26 is washed out — historically the better half of this site's measured edge comes from exactly this condition
revenue grew 2% year on year in the quarter ending 2026-06-30
What would change this read: a close back above 143, its 200-day average.
Assembled automatically from the figures on this page — the scans matched, their measured record, the filed financials, the derivatives positioning and the peer comparison. It is not a recommendation, no one has spoken to the company, and every claim above can be checked against a number further down this page.
What is working, what is not
read from the filings, with the figure behind every line
Working3
Net profit +121.6% year on year, Rs 3 cr to Rs 6 cr.
+121.6%Rs 3 crRs 6 cr
Profit grew faster than revenue, +121.6% against +25.4%.
+121.6%+25.4%
Operating cash flow was Rs 596 cr against Rs 210 cr of profit over four quarters, 284% of it.
Rs 596 crRs 210 cr284%
Needs watching1
Paper & Paper Board is 88% of revenue, so the business rests on one segment.
Paper & Paper Board88%
Every figure here is computed from the company’s own filings. The wording is generated directly from the figures.
How it has performed
price return over each window, measured against zero
What the scans say today
2 of 47 matched on 2026-08-21
TNPL matches 2 of the 47 scans today, across 2 different kinds of evidence.
segments and revenue mix, as the company reports them
TNPL reports 2 business segments. The largest is Paper & Paper Board at 88% of revenue in the quarter ending 2026-06-30. On these numbers this is effectively a single-segment business, so the group result and that segment’s result move together.
SegmentRevenueSharevs a year ago
Paper & Paper Board1,144 cr87.8%—
Energy158 cr12.2%—
Segment names are the company’s own, taken verbatim from the reportable-segment disclosure in its quarterly XBRL filing. Nothing on this page describes the business in words we wrote.
Quality of the business
balance sheet as at 2026-03-31
Return on equity
9.1%
trailing profit over shareholders’ funds
Return on capital
-0.2%
pre-tax profit over equity plus borrowings
Debt to equity
0.69×
1,599 cr borrowed against 2,316 cr of equity
Net debt
1,585 cr
borrowings less cash
Cash conversion
284%
operating cash flow as a share of profit
Receivable days
48
how long customers take to pay
Return on capital uses profit before tax over equity plus borrowings. The textbook version adds finance costs back; those are not tagged reliably in quarterly filings, so this understates the ratio for a heavily borrowed company rather than flattering it. Balance sheets are filed half-yearly, so these can be up to six months behind the profit figures above.
Valuation against its own history
500 sessions since 2024-09-06
5×
median 62×
80×
now 5×
TNPL trades at 5× trailing earnings, below its median of 62× over this window — 93% less expensive than usual. The band runs from the 5th to the 95th percentile, so single-day spikes do not set the edges.
This window is short by the standards of valuation history — it begins where four quarters of filed earnings first exist. A stock can look cheap against two years and expensive against ten.
Other filing filings were typically -0.08pt vs the market over the next 5 sessions (n=12,093) · AGM / EGM filings were typically +0.00pt vs the market over the next 5 sessions (n=4,362) · Results filings were typically -0.52pt vs the market over the next 5 sessions (n=7,520)
The business
from the company’s filed results
Everything below is taken from the company’s own quarterly filing with the exchange — the XBRL document it submitted, not a vendor’s summary of it. Figures in rupees crore.
RevenueNet profit, drawn inside its revenue barNet margin, own scale belowrupees crore, per quarter as filed. Revenue bars start at zero.
Going for it
revenue grew 2% against the same quarter a year earlier
Going against it
profit dropped 74% year on year
net margin narrowed from 18.9% to 0.5%
Quarter-by-quarter numbers, as filed
Quarter
Revenue
Profit before tax
Net profit
EPS
Net margin
Q1 FY27
2026-06-30 · standalone
1,147
8
6
0.83
0.5%
Q4 FY26
2026-03-31 · standalone
1,272
38
240
34.72
18.9%
Q3 FY26
2025-12-31 · standalone
1,121
12
7
0.98
0.6%
Q3 FY25
2024-12-31 · standalone
1,126
-65
-43
-6.20
-3.8%
Q2 FY25
2024-09-30 · standalone
915
5
3
0.37
0.3%
Q1 FY25
2024-06-30 · standalone
1,119
34
22
3.17
2.0%
Quarterly filings are unaudited unless stated. Consolidated figures are used where the company files both. A single quarter is a noisy thing — the trend across the column is worth more than the top row.
Where the price stands
the same figures every scan on this site is computed from
Trend
Distance from the averages traders watch. Above all of them is a bull phase; below the 200-day is the line most investors use to say otherwise.
Versus 50-day average-3.9%
Versus 200-day average-1.1%
Below 52-week high-14.6%
Above 52-week low+15.2%
Momentum
How hard it has been pushed lately. Above 70 on RSI is stretched, below 30 is washed out — neither is a signal on its own.
RSI (14)25.8
Higher closes in last 53 of 5
Six-month return+3.05%
Risk and liquidity
What a position costs to hold and to exit. Position sizing starts with the daily swing, not with conviction.