About Shah Paper Mills Limited
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Shah Paper Mills Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the paper and packaging products segment of the manufacturing sector. It was incorporated on 27 July 1990 and has been in existence for over 36 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U21010MH1990PLC057464. Its GSTIN is 24AAACS6438F1ZI (Gujarat). The company holds 5 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹47.5 Cr and a paid-up capital of ₹14.69 Cr. It was formerly known as Shah Paper Mills Private Limited. It is led by directors including Pritesh Mahendra Shah (Managing Director) and Girish Sarvotham Shetty (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹892.07 Cr, a decline of 12% compared to the previous year. For the same year it recorded a net profit of ₹74.39 Cr (net margin 8.3%) and EBITDA of ₹119.01 Cr (EBITDA margin 13.3%). Revenue has grown at a compounded annual rate (CAGR) of 3% over three years and 3% over five years.
The company has about 612 employees on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹106.7 Cr and satisfied charges of ₹772.3 Cr on record. Court records list 111 cases involving the company, including 79 filed by the company and 32 filed against it; 19 cases are pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website shahpaper.com.
Company details
CIN history
Shah Paper Mills has one previous CIN (Corporate Identification Number): U21010MH1990PTC057464. The current CIN is U21010MH1990PLC057464, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U21010MH1990PLC057464 | Current |
| U21010MH1990PTC057464 | Previous |
Contact details
Shah Paper Mills Limited's registered office is in Mumbai, Maharashtra. Its website is shahpaper.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address1101 Unicorn Chandak Commercial Bulding, Dattaji Salvi Marg Off Veera Desai Road, Mumbai, Maharashtra, India – 400053
- IndustryManufacturing, Paper & Packaging Products
To see the full contact details of Shah Paper Mills Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Shah Paper Mills is manufacturing. In detail, this covers wood and wood products, furniture, paper and paper products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C3 | Wood and wood products, furniture, paper and paper products |
To see the full business activity and turnover split of Shah Paper Mills Limited, buy the company report.
Financials of Shah Paper Mills Limited
FY 2025 filings availableShah Paper Mills Limited reported revenue of ₹892.07 Cr (down 12% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 12% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 3%. EBITDA rose 25% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Other Income | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | ₹119.01 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹74.39 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 13.3% | ||||
| Net Profit Margin | 8.3% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Shah Paper Mills Limited, buy the company report.
Board of directors and KMP of Shah Paper Mills Limited
Shah Paper Mills Limited currently reports 7 directors and 1 key managerial person. 18 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mahendra Hirji Shah | Director | 27 Jul 1990 | 36 Years 3 Months | Current |
| Girish Sarvotham Shetty Also directs: Shah Financial Services Limited | Whole-Time Director | 01 May 2012 | 14 Years 5 Months | Current |
| Pritesh Mahendra Shah | Managing Director | 30 Nov 2021 | 4 Years 11 Months | Current |
| Hirenbhai Vinodrai Prajapati | Director | 30 Sep 2025 | 1 Years 1 Months | Current |
| Bharat Dixit | Director | 30 Sep 2025 | 1 Years 1 Months | Current |
| Divya Vinu Nair | Director | 30 Sep 2025 | 1 Years 1 Months | Current |
Peer comparison
Shah Paper Mills Limited is compared with the 8 companies closest to it by revenue in the Manufacturing industry (Paper), with the same principal business activity (wood and wood products, furniture, paper and paper products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Kuantum Papers Limited | ₹1,113.12 Cr (FY 2025) | -9.0% | Saila Khurd, Punjab, India | |||
| Orient Paper and Industries Ltd. | ₹911.56 Cr (FY 2025) | 6.0% | Bhubaneswar, Odisha, India | |||
| Naini Papers Limited | ₹893.88 Cr (FY 2025) | -8.0% | Kashipur, Uttarakhand, India | |||
| Shah Paper Mills Limitedthis company | ₹892.07 Cr (FY 2025) | ₹74.39 Cr | 8.3% | -12.0% | 612 | Mumbai, Maharashtra, India |
| Gayatrishakti Paper & Boards Limited | ₹886.49 Cr (FY 2024) | -21.0% | Mumbai, Maharashtra, India | |||
| Genus Paper & Boards Limited | ₹865.02 Cr (FY 2025) | 21.0% | Moradabad, Uttar Pradesh, India | |||
| The Sirpur Paper Mills Ltd | ₹841.3 Cr (FY 2025) | -19.0% | Kaghaznagar, Telangana, India | |||
| Pudumjee Paper Products Limited | ₹830 Cr (FY 2025) | 4.0% | Pune, Maharashtra, India | |||
| Hindustan Paper Corporation Limited | ₹750.64 Cr (FY 2016) | -34.0% | New Delhi, Delhi, India |
To see the full peer comparison of Shah Paper Mills Limited, buy the company report.
Auditor
Shah Paper Mills Limited is audited by S. S. GURAV & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. S. GURAV & ASSOCIATES | FY 2023 | 120292W |
Shareholding
The shareholding of Shah Paper Mills Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Shah Paper Mills Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 03 Jan 2025 | 101033542 | Hdfc Bank Limited | ₹2.55 Cr | Open | |
| 20 Jun 2024 | 100935706 | Hdfc Bank Limited | ₹36 Lakh | Open | |
| 17 Jan 2024 | 100850502 | Hdfc Bank Limited | ₹46.04 Lakh | Open | |
| 19 Oct 2023 | 100812679 | Hdfc Bank Limited | ₹29 Lakh | Open | |
| 29 Jun 2023 | 100750388 | Others | ₹13.21 Lakh | Open |
To see the full charge records of Shah Paper Mills Limited, buy the company report.
Total charge records: 31 View all charges
Legal cases
Shah Paper Mills Limited has 111 court cases on record: 79 filed by Shah Paper Mills, 32 filed against it. 19 cases are pending and 92 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 81 | 18 | 17 |
| High courts | 19 | 11 | 1 |
| NCLAT | 7 | 2 | 0 |
| NCLT | 2 | 1 | 0 |
| Supreme Court | 2 | 0 | 1 |
Cases on record (5 of 111)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed by the company against individuals | Pending |
| District court, Valsad, Gujarat | Court case (CR A) | Filed by the company against Impressive Multiforms Pvt Ltd and 2 others | Pending |
| District court, Valsad, Gujarat | Criminal complaint | Filed by the company against Mahant Paper Industries Pvt Ltd and 2 others | Pending |
| Bombay High Court | Writ petition | Filed by the company against M/S Satia Industries Limited and 3 others | Disposed |
| High Court of Gujarat | Court case (CR.MA) | Filed by the company against Impressive Multiforms Pvt Ltd and 2 others | Disposed |
To see the full case history of Shah Paper Mills Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Shah Paper Mills Limited has 15 MSME Form 1 returns on record between 2018 and 2022, listing 5,447 overdue payments to 87 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 87)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Santosh Starch Products Limited | |||
| Pooja Marketing | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Shah Paper Mills Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Shah Paper Mills Limited has a workforce of 612 employees on its EPFO records as of Apr 06, 2024, across 1 active EPFO establishment.
GST
Shah Paper Mills has 5 GST registrations: 2 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACS6438F1ZI | Gujarat | Active | 01 Jul 2017 |
| 26AAACS6438F2ZD | Dadra and Nagar Haveli and Daman and Diu | Active | 07 May 2021 |
To see the full GST registrations and return filing status of Shah Paper Mills Limited, buy the company report.
Recent activity
Shah Paper Mills Limited has 42 board changes on record since 1990: 25 appointments and 17 cessations. The latest: Bharat Dixit was appointed as Director on 30 Sep 2025.
86 earlier events are in the company report.
Frequently asked questions
Shah Paper Mills is an active public limited company based in Mumbai, Maharashtra, India. The company works in paper and packaging products, within the manufacturing industry. It was incorporated on 27 July 1990 (36+ years old) and is registered under CIN U21010MH1990PLC057464.
Shah Paper Mills has 8 current directors and KMP:
- Pritesh Mahendra Shah - Managing Director
- Girish Sarvotham Shetty - Whole-Time Director
- Mahendra Hirji Shah - Director
- Hirenbhai Vinodrai Prajapati - Director
- Bharat Dixit - Director
- Divya Vinu Nair - Director
- Raghvendra Pundalika Mallya - Director
- Brijesh Amrutbhai Rathod - Company Secretary
The latest financial statements of Shah Paper Mills on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Shah Paper Mills is 24AAACS6438F1ZI, registered in Gujarat. The company has 5 GST registrations in all, of which 2 are active and 3 are cancelled or inactive. Other active GSTINs include 26AAACS6438F2ZD (Dadra and Nagar Haveli and Daman and Diu).
The CIN (Corporate Identification Number) of Shah Paper Mills is U21010MH1990PLC057464. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Shah Paper Mills has 111 court cases on record: 79 filed by the company and 32 filed against it. 19 are pending. Most are in the district courts.
Shah Paper Mills was incorporated on 27 July 1990, making it 36+ years old. It is registered with the Registrar of Companies, Mumbai.
The peers of Shah Paper Mills by revenue are Kuantum Papers Limited, Orient Paper and Industries Ltd, Naini Papers Limited, Gayatrishakti Paper & Boards Limited, Genus Paper & Boards Limited and 3 more, all in the Manufacturing industry (Paper), with the same principal business activity (wood and wood products, furniture, paper and paper products).
Bharat Dixit was appointed as Director on 30 Sep 2025. Divya Vinu Nair was appointed as Director on 30 Sep 2025. Hirenbhai Vinodrai Prajapati was appointed as Director on 30 Sep 2025. Shah Paper Mills has 42 board changes on record in total.
Shah Paper Mills has 15 MSME Form 1 returns on record between 2018 and 2022, listing 5,447 overdue payments to 87 micro and small suppliers. The latest return was filed on 27 Oct 2022.
Shah Paper Mills can be reached through the website shahpaper.com. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Shah Paper Mills is at 1101 Unicorn Chandak Commercial Bulding, Dattaji Salvi Marg Off Veera Desai Road, Mumbai, Maharashtra, India – 400053.
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