About Naini Papers Limited
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Naini Papers Limited is a public limited company based in Kashipur, Uttarakhand, India. It operates in the paper and packaging products segment of the manufacturing sector. It was incorporated on 03 May 1995 and has been in existence for over 31 years.
The company is registered with the Registrar of Companies (ROC), Uttarakhand, under CIN U21090UR1995PLC033469. Its GSTIN is 05AAACN3805D1Z2 (Uttarakhand). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹38.5 Cr and a paid-up capital of ₹38.22 Cr. It is led by directors including Pawan Agarwal (Managing Director) and Mayank Agarwal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Station Road Opposite Radhey Shyam Building, Kashipur, Uttarakhand, India – 244713.
As per the financials filed for FY 2025, the company reported a revenue of ₹893.88 Cr, a decline of 8% compared to the previous year. For the same year it recorded a net profit of ₹86.03 Cr (net margin 9.6%) and EBITDA of ₹193.51 Cr (EBITDA margin 21.6%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 24% over five years.
The company has about 776 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Naini Papers Ltd. As per MCA filings, the company has open charges of ₹999 Cr and satisfied charges of ₹863.72 Cr on record. Court records list 8 cases involving the company, including 6 filed by the company and 2 filed against it; 1 case is 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 nainigroup.com.
Company details
CIN history
Naini Papers has one previous CIN (Corporate Identification Number): U74899DL1995PLC068173. The current CIN is U21090UR1995PLC033469, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U21090UR1995PLC033469 | Current |
| U74899DL1995PLC068173 | Previous |
Contact details
Naini Papers Limited's registered office is in Kashipur, Uttarakhand. Its website is nainigroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressStation Road Opposite Radhey Shyam Building, Kashipur, Uttarakhand, India – 244713
- IndustryManufacturing, Paper & Packaging Products
To see the full contact details of Naini Papers 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
Brands
Naini Papers operates one associated brand: Naini Papers Ltd. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Paper manufacturing specializing in writing, printing, and industrial grades with an emphasis on sustainability and technology in India. | nainigroup.com |
Business activity
The main business activity of Naini Papers 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 Naini Papers Limited, buy the company report.
Financials of Naini Papers Limited
FY 2024 filings availableNaini Papers Limited reported revenue of ₹893.88 Cr (down 8% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue fell 8% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 24%. EBITDA fell 27% 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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| Total Expenses | |||||
| EBITDA | ₹193.51 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹86.03 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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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 | 21.6% | ||||
| Net Profit Margin | 9.6% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| Quick Ratio | |||||
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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 Naini Papers Limited, buy the company report.
Board of directors of Naini Papers Limited
Naini Papers has 9 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Mayank Agarwal Also directs: Naini Capital Limited | Whole-Time Director | 08 Aug 2006 | 20 Years 2 Months | Current |
| Mukesh Kumar Tyagi | Whole-Time Director | 01 Jul 2021 | 5 Years 3 Months | Current |
| Sudhir Bhansali | Additional Director | 19 Aug 2025 | 1 Years 2 Months | Current |
| Mohit Jain | Director | 30 Aug 2018 | 8 Years 2 Months | Current |
| Varun Jain | Director | 28 Jan 2025 | 1 Years 9 Months | Current |
| Pawan Agarwal Also directs: Naini Capital Limited | Managing Director | 27 Aug 2004 | 22 Years 2 Months | Current |
Peer comparison
Naini Papers 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 |
|---|---|---|---|---|---|---|
| Bank Note Paper Mill India Private Limited | ₹1,401.91 Cr (FY 2025) | 12.0% | Mysore, Karnataka, India | |||
| 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 Limitedthis company | ₹893.88 Cr (FY 2025) | ₹86.03 Cr | 9.6% | -8.0% | 776 | Kashipur, Uttarakhand, India |
| Shah Paper Mills Limited | ₹892.07 Cr (FY 2025) | -12.0% | 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 |
To see the full peer comparison of Naini Papers Limited, buy the company report.
Auditor
Naini Papers Limited is audited by NAVRATN & CO. LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| NAVRATN & CO. LLP | FY 2023 | N500107 |
Shareholding
The shareholding of Naini Papers 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 Naini Papers Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 17 Apr 2023 | 100713800 | Sbicap Trustee Company Limited | ₹600 Cr | Open | |
| 31 Jan 2020 | 100324496 | Sbicap Trustee Company Limited | ₹399 Cr | Open | |
| 24 Jan 2019 | 100244304 | Hdfc Bank Limited | ₹300 Cr | Satisfied | |
| 20 Nov 2018 | 100230415 | Hdfc Bank Limited | ₹300 Cr | Satisfied | |
| 02 Nov 2018 | 100218131 | Hdfc Bank Limited | ₹120 Cr | Satisfied |
To see the full charge records of Naini Papers Limited, buy the company report.
Total charge records: 18 View all charges
Legal cases
Naini Papers Limited has 8 court cases on record: 6 filed by Naini Papers, 2 filed against it. 1 case is pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 0 | 0 |
| District courts | 2 | 2 | 1 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 8)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Bareilly, Uttar Pradesh | Court case (Regular Civil Appeal) | Filed against the company by M/S U.P Sales and Service | Pending |
| High Court of Uttarakhand | Court case (WPMB) | Filed by the company against State of Uttarakhand | Disposed |
| NCLT, Allahabad | Court case (C.A.(CAA)) | Filed by the company | Disposed |
| NCLT, Allahabad | Court case (COMP.APPL) | Filed by the company | Disposed |
| District court, Bareilly, Uttar Pradesh | Interim or miscellaneous application | Filed against the company by M/S Up Sales Services Propwriter DM Bharjdwaj | Disposed |
To see the full case history of Naini Papers 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.
Credit ratings & regulatory alerts
Naini Papers Limited was last rated by Care on 03 Apr 2023.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 03 Apr 2023 |
To see the full credit ratings and regulatory alerts of Naini Papers Limited, buy the company report.
MSME payment delays
Naini Papers Limited has 11 MSME Form 1 returns on record between 2019 and 2023, listing 185 overdue payments to 23 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 23)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Shree Nantin Industries | |||
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier |
To see the full MSME payment records of Naini Papers Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Naini Papers Limited has a workforce of 776 employees on its EPFO records as of Mar 29, 2024, across 1 active EPFO establishment.
GST
Naini Papers has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 05AAACN3805D1Z2 | Uttarakhand | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Naini Papers Limited, buy the company report.
Recent activity
Naini Papers Limited has 26 board changes on record since 2004: 13 appointments and 13 cessations. The latest: Narayanaswamy Alampallam Ramakrishnan was appointed as Additional Director on 19 Aug 2025.
59 earlier events are in the company report.
Frequently asked questions
Naini Papers is an active public limited company based in Kashipur, Uttarakhand, India. The company works in paper and packaging products, within the manufacturing industry. It was incorporated on 03 May 1995 (31+ years old) and is registered under CIN U21090UR1995PLC033469.
Naini Papers has 9 current directors:
- Pawan Agarwal - Managing Director
- Mayank Agarwal - Whole-Time Director
- Mukesh Kumar Tyagi - Whole-Time Director
- Prachi Agarwal - Whole-Time Director
- Sudhir Bhansali - Additional Director
- Mohit Jain - Director
- Varun Jain - Director
- Narayanaswamy Alampallam Ramakrishnan - Additional Director
- Pankaj Dhirajlal Shah - Additional Director
The latest financial statements of Naini Papers on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Naini Papers is 05AAACN3805D1Z2, registered in Uttarakhand. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Naini Papers is U21090UR1995PLC033469. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Naini Papers has 8 court cases on record: 6 filed by the company and 2 filed against it. 1 is pending. Most are in the high courts.
Naini Papers was incorporated on 03 May 1995, making it 31+ years old. It is registered with the Registrar of Companies, Uttarakhand.
The peers of Naini Papers by revenue are Bank Note Paper Mill India Private Limited, Kuantum Papers Limited, Orient Paper and Industries Ltd, Shah Paper Mills Limited, Gayatrishakti 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).
Narayanaswamy Alampallam Ramakrishnan was appointed as Additional Director on 19 Aug 2025. Pankaj Dhirajlal Shah was appointed as Additional Director on 19 Aug 2025. Sudhir Bhansali was appointed as Additional Director on 19 Aug 2025. Naini Papers has 26 board changes on record in total.
Naini Papers has 11 MSME Form 1 returns on record between 2019 and 2023, listing 185 overdue payments to 23 micro and small suppliers. The latest return was filed on 15 Dec 2023.
Naini Papers can be reached through the website nainigroup.com. Its registered office is in Kashipur, Uttarakhand, India.
The registered office of Naini Papers is at Station Road Opposite Radhey Shyam Building, Kashipur, Uttarakhand, India – 244713.
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