Key Metrics of Ruchira Papers Limited
About Ruchira Papers Limited
Sectors
Company details
- Registered office
- Trilok Pur Roadkala Amb Distt Sirmaur Himachal, Pardesh Hp, Kala Amb, In-hp, 173030
- Listed
- NSE: RUCHIRA · ₹99.87
Operational Areas of Ruchira Papers Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 04 Aug 2026 | ICRA | Reaffirmed | A | — | Stable | ₹50.0 Cr | View |
| 09 Jul 2026 | CARE | Reaffirmed | A | A1 | Stable | ₹212 Cr | View |
| 05 Aug 2025 | CARE | Upgraded (from A-) | A | A1 | Stable | ₹212 Cr | View |
| 01 Jul 2024 | CARE | Reaffirmed | A- | — | Stable | ₹160 Cr | View |
| 29 Jun 2023 | CARE | Reaffirmed | A- | A2+ | Positive | ₹102 Cr | View |
| 23 Jun 2022 | CARE | Assigned | A- | A2+ | Stable | ₹203 Cr | View |
| 19 Jul 2019 | CARE | Other | — | — | — | — | View |
| 23 Oct 2018 | CARE | Watch | BBB+ | A3+ | Negative | ₹104 Cr | View |
| 28 Feb 2018 | CARE | Other | — | — | — | — | View |
| 09 Mar 2017 | CARE | Revised | BBB+ | A3+ | Stable | ₹77.4 Cr | View |
| 09 Mar 2017 | CARE | Revised | BBB+ | A3+ | Stable | ₹77.4 Cr | View |
Credit strengths (ICRA, Aug 2026)
+ Established presence of promoters in the paper industry
RPL, incorporated as a public limited company in 1980 by late Mr.
+ Location advantage in sourcing raw materials
RPL relies on agri-based inputs such as wheat straw and bagasse, sourced locally from Punjab and Haryana (agriculture belt), for its WPP segment, while primary raw material for kraft paper production is wastepaper.
Credit challenges
− Successful ramp -up of recently enhanced WPP capacity remains crucial for recovery in margins
The company has undertaken significant capacity expansion at its WPP plant, which is expected to increase to 90,000 MTPA over the medium term from 60,000 MT in FY2026.
− Exposure to changes in wastepaper-related regulations
RPL’s profitability remains vulnerable to regulatory changes in the paper industry.
Could lead to an upgrade
The rating could be upgraded, in case of healthy scale-up in the revenues, supported by ramp-up of expanded capacity, while maintaining healthy margins leading to an improvement in debt metrics.
Could lead to a downgrade
The rating may be downgraded, if material decline in earnings or any large debt-funded capex weakens its capital structure or coverage indicators. Further, pressure on the rating may arise in case of any adverse change inthe company’s financial policy, including dividend payouts, affecting the capital structure or
Agency-reported financials (ICRA, 04 Aug 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹665 Cr | ₹655 Cr |
| PAT | ₹67.30 Cr | ₹44.10 Cr |
| OPBDIT/OI | 16.1% | 12.3% |
| PAT/OI | 10.1% | 6.7% |
| Total outside liabilities/Tangible net worth (times) | 0.30× | 0.50× |
| Total debt/OPBDIT (times) | 0.80× | 2.30× |
| Interest coverage (times) | 26.00× | 9.50× |
| Revenue growth (YoY) | — | −1.4% |
| EBITDA (margin × income) | ₹107 Cr | ₹80.60 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹85.62 Cr | ₹185 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹4.12 Cr | ₹8.48 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term bank facilities | Working capital & bank lines | — | ₹199 Cr | — | A (Stable) | Reaffirmed | CARE |
| Long-term Short-term bank facilities | Working capital & bank lines | — | ₹5.75 Cr | — | A / A1 (Stable) | Reaffirmed | CARE |
| Short-term bank facilities | Working capital & bank lines | — | ₹7.00 Cr | — | A1 | Reaffirmed | CARE |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Bank Guarantee | — | Withdrawn |
| Bank Guarantee | ₹5.75 Cr | CARE A; Stable / CARE A1 |
| ILC/FLC | — | Withdrawn |
| ILC/FLC | ₹7.00 Cr | CARE A1 |
| Proposed fund based limits | — | Withdrawn |
| Term Loan | — | Withdrawn |
| Term Loan | ₹109 Cr | CARE A; Stable |
| Working Capital Limits | — | Withdrawn |
| Working Capital Limits | ₹90.0 Cr | CARE A; Stable |
Lenders
| Fund-based - LT | Term Loan | HDFC Bank Ltd. |
| Fund-based - LT | Term Loan | Punjab National Bank |
| Fund-based - LT | Working Capital Limits | HDFC Bank Ltd. |
| Fund-based - LT | Working Capital Limits | Punjab National Bank |
| Non-fund-based - LT/ ST | Bank Guarantee | Punjab National Bank |
| Non-fund-based - ST | ILC/FLC | Punjab National Bank |
Credit assessment · Cement
CARE Ratings’ Criteria for Rating Cement Companies (Sep 2024) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 62% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 60% chance the next rating action is stable or better
- Current rating A (investment grade)
- Interest coverage 9.5×
- ₹50 cr of rated limits not yet tied to a lender
What happened, step by step
- Jun 2022 — ₹12 cr raised through equity
- Jun 2023 — Full repayment of term loans
“The company is planning to incur capex to the tune of ~Rs.18.00 crore in FY23 and FY24 pertaining to modernization of machinery and shall be funded through equity infusion of ~Rs.12.00 crore and remaining through internal accruals.”
Rated limits by facility
Timeline
From the report
Liquidity: Adequate The company’s liquidity position is adequate as reflected by projected gross cash accruals to the tune of ~₹80.98 crore in FY27 against scheduled repayment of ₹20.49 crore.
From the report
Average utilisation of working capital borrowings stoodat ~71% for 12 months ended May 2026.
From the report
The company’s cash flow from operations stood moderate at ₹57.76 crore in FY26 (PY: ₹101.94 crore).
From the report
The average utilisation of working capital borrowings stood ~46% for the trailing 12 months ended May 2025.
From the report
Moreover, the company reported healthy cash flow from operations of ₹101.94 crore in FY25 (PY: ₹41.24 crore) mainly considering increase in profitability.
From the report
Press Release borrowings to the tune of Rs.38.04 Cr (out of sanctioned limit of Rs.73.00 crore).
From the report
Press Release The liquidity position of the company is adequate as reflected by projected gross cash accruals to the tune of Rs. 80.65 crore in FY25 against scheduled repayment of Rs. 1.25 crore.
From the report
Further, the average utilization of working capital borrowings stood ~49% for the trailing 12 months ended April 2024.
From the report
The improvement in gearing is mainly on account of scheduled repayment of term loans coupled with accretion of profits to net worth.
From the report
The debt profile of the company as on March 31, 2023 comprise of term loans to the tune of Rs.6.92 Cr and working capital borrowings to the tune of Rs.34.95 Cr (out of sanctioned limit of Rs.73.00 crore).
From the report
Liquidity: Adequate The liquidity position of the company is adequate as reflected by projected gross cash accruals to the tune of Rs. 84.84 crore in FY24 against scheduled repayment of Rs. 6.41 crore in FY24.
From the report
Further, the average utilization of working capital borrowings stood ~53% for the trailing 12 months ended May, 2023.
From the report
The improvement in gearing is mainly on account of scheduled repayment of term loan coupled with accretion of profits to net -worth.
From the report
Liquidity: Adequate – The liquidity position of the company is adequate as reflected by projected gross cash accruals to the tune of Rs.50.51 crore in FY23 against scheduled repayment of Rs.12.35 crore in FY23.
From the report
Further, the average utilization of working capital borrowings stood ~80% for the trailing 12 months ended April, 2022.
From the report
The company is planning to incur capex to the tune of ~Rs.18.00 crore in FY23 and FY24 pertaining to modernization of machinery and shall be funded through equity infusion of ~Rs.12.00 crore and remaining through internal accruals.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Ruchira Papers Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Paper, Pulp & Packaging · Cement, Building Materials & Polymers | jkpaper.com | — | Tapi, India | |
 Trident |
Part of Mondelez International. | tridentindia.com | — | India |
 Tamil Nadu Newsprint and Papers (TNPL) |
Paper, Pulp & Packaging · Cement, Building Materials & Polymers | tnpl.com | — | India |
| Paper, Pulp & Packaging · Cement, Building Materials & Polymers | westcoastpaper.com | — | Dandeli, India | |
 Andhra Paper |
Paper, Pulp & Packaging · Cement, Building Materials & Polymers | andhrapaper.com | — | Rajahmundry, India |
| Paper, Pulp & Packaging · Cement, Building Materials & Polymers | spbltd.com | — | Erode, India | |
| Satia Industries | Paper, Pulp & Packaging · Cement, Building Materials & Polymers | — | — | Muktsar, India |
 Kuantum Papers (India) |
Paper, Pulp & Packaging · Cement, Building Materials & Polymers | kuantumpapers.com | 1979 | India |
| Paper, Pulp & Packaging · Cement, Building Materials & Polymers | orientpaperindia.com | — | Bhubaneswar, India | |
 Shrenik Limited |
Paper, Pulp & Packaging · Trading | ulphs.co.in | — | Ahmedabad, Gujarat, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.