₹3,707 crore of revenue reported in the latest year (mostly FY25) by the 20 of Maharashtra's 559 paper mills with accounts on file. The ten largest produce 98% of it; the typical filer earns ₹26.8 crore.
Active companies
559
paper mills on the register
Reported revenue
₹3,707 crore
20 companies with accounts
Profitable
80%
of filers · India 76%
Secured loans
46.9%
of companies have one on record
What stands out about Maharashtra's paper mills
01
Revenue
₹3,707 crore
of revenue reported in the latest year (mostly FY25) by the 20 of Maharashtra's 559 paper mills with accounts on file. The ten largest produce 98% of it; the typical filer earns ₹26.8 crore.
02
Profitability
80%
of filers reported a profit (India, same segment: 76%); the median net margin is 1.9% against 1.0% nationally.
03
Growth
−0%
median revenue growth across 20 companies with two consecutive years on file (India: +1%); 2 grew by more than half and 10 shrank. Only companies still filing are counted.
04
Labour cost
4%
of revenue goes on employee cost for the median filer (4% nationally), about the same labour intensity as across India.
05
Lending
46.9%
of Maharashtra paper mills have a secured loan on record (India: 48.4%). Most frequent lenders: State Bank Of India (52), HDFC Bank (31), Bank Of India (24). Open borrowings against company assets total ₹5,425 crore.
06
Where the money is
80%
of reported revenue comes from Mumbai, which holds 50% of Maharashtra's paper mills.
Where Maharashtra's paper mills are
Companies by the city or district of their registered address.
City
Companies
Share
Reported revenue
Share of revenue
Mumbai
282
50.4%
₹2,984 crore
80%
Thane
57
10.2%
₹131 crore
4%
Pune
55
9.8%
₹295 crore
8%
Nagpur
33
5.9%
₹297 crore
8%
Aurangabad
32
5.7%
–
–
Nashik
26
4.7%
–
–
Kolhapur
11
2.0%
₹66.8 lakh
0%
Jalgaon
10
1.8%
–
–
Sangli
9
1.6%
–
–
Raigarh(mh)
8
1.4%
–
–
Paper Mills in Maharashtra by size
From the latest accounts each company has filed, split by annual revenue. Growth compares with the year before; net margin is profit after tax over revenue.
Gayatri Shakti is a manufacturer of packaging paper and boards for industries. Its product offerings include coated packaging board, white back, carton boxes, medicine boxes, book covers, publication covers, and blister pack board. Parksons Packaging, Param Packaging, Premier Packaging, York Print, and Orient Press are part of its clientele.
Gayatrishakti Paper & Boards Limited is a public company incorporated in 2005, with its registered office in Mumbai, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹895 crore, up 1% on the year before, with a net margin of 1.7%.
Revenue (FY25)₹895 crore
Growth vs prior year+1%
Net margin1.7%
Net worth₹276 crore
Paid-up capital₹19.6 crore
AreaMumbai
Incorporated2005 · Public company
BackingVC-Backed · Series A 2014
Secured loans7 open
OffersCoated duplex board, Test Liner & Kraft Liner, CBD products, Packaging Paper & Board
Shah Paper Mills Limited is a public company incorporated in 1990, with its registered office in Mumbai, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹888 crore, down 12% on the year before, with a net margin of 8.4%.
Manufacturer of recycled paperboard and related products. They produce various grades of paperboard, including double-coated recycled board. The company's offerings are used in a variety of applications. Information on their manufacturing processes and specific product details is available on their website.
Mehali Papers Private Limited is a private company incorporated in 2013, with its registered office in Mumbai, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹701 crore, down 2% on the year before, with a net margin of −2.4%.
The Company is promoted by Kabra family (headed by Mr. Hargovind Kabra) and Awghate family (headed by Mr. Nilkant Awghate), both of Bhandara.
Shweta Paper Industries Private Limited is a private company incorporated in 2011, with its registered office in Nagpur, Maharashtra, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaNagpur
Incorporated2011 · Private company
Brand founded2012
Secured loans2 open
OffersIndustrial Kraft Paper, Kraft Paper For Letter, Kraft Paper For Envelopes, Kraft Paper Book Covers
Manufacturer of newsprint, writing, printing, and packaging paperboard. This company produces a variety of paper products using waste paper. The manufacturing process utilizes advanced machinery. The company provides customer service.
Ganga Papers India Limited is a public company incorporated in 1985, with its registered office in Pune, Maharashtra, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Unisource is a provider of paper products and services, with a focus on the packaging industry. They offer a range of papers from globally and domestically renowned mills, and regularly participate in industry events to showcase their achievements. Their management team recently hosted an online Knowledge Sharing session to promote learning and collaboration within the organization.
Unisource Papers Private Limited is a private company incorporated in 2005, with its registered office in Mumbai, Maharashtra, classified under wholesale trade. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Manufacturer of hydraulic elevator control valves and related components. The company provides valves, repair services, parts, and supporting hardware such as flanges and solenoid coils. They also offer training and technical support to elevator professionals. Product offerings include isolation couplings and shut-off valves. The company facilitates online ordering and account management for streamlined purchasing.
Gayatri Paper Mills Pvt Ltd is a private company incorporated in 1981, with its registered office in Mumbai, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹51.4 crore, up 24% on the year before, with a net margin of 0.8%.
Revenue (FY25)₹51.4 crore
Growth vs prior year+24%
Net margin0.8%
Net worth₹6.8 crore
Paid-up capital₹35 lakh
AreaMumbai
Incorporated1981 · Private company
Brand founded2020
Secured loans7 open
Directors on recordSanjiv Purshottam Choudhary, Radha Sanjiv Choudhary2 directors
Developer of virtualization and automation software for consumers and cloud providers. The company provides software that optimizes computing across hardware, operating systems, and virtualization platforms. It offers automation and virtualization software enabling cloud services providers to deliver cloud services. The software includes control panels, billing, service provisioning, and virtualization. It facilitates delivery of web hosting, messaging, virtualized infrastructure, and other applications. The company's automation products optimize systems, while virtualization products allow multiple operating systems on one computer.
Ecopack India Paper Cup Private Limited is a private company incorporated in 2010, with its registered office in Pune, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹28.3 crore, up 4% on the year before, with a net margin of 2.2%.
Revenue (FY25)₹28.3 crore
Growth vs prior year+4%
Net margin2.2%
Net worth₹7.2 crore
Paid-up capital₹1.6 crore
AreaPune
Incorporated2010 · Private company
Directors on recordAnnalisa Ferri, Francesco Ferri, Jameer Daulat Patel3 directors
Sapphire Pulp & Papers Private Limited is a private company incorporated in 2011, with its registered office in Mumbai, Maharashtra, classified under business services (consulting, advertising, staffing). In FY25 it reported revenue of ₹25.3 crore, up 157% on the year before, with a net margin of 0.2%.
Revenue (FY25)₹25.3 crore
Growth vs prior year+157%
Net margin0.2%
Net worth₹2.3 crore
Paid-up capital₹78.3 lakh
AreaMumbai
Incorporated2011 · Private company
Brand founded2008
Directors on recordVikash Agarwal, Sweta Agarwal, Amisha Agarwal3 directors
Vikash AgarwalDirector · since 2011
Sweta AgarwalDirector · since 2011
Amisha AgarwalDirector · since 2021
04 · FY25 accounts · Pune
A
Amrut Paper Products Private Limited
Amrut Paper Products Private Limited is a private company incorporated in 2015, with its registered office in Pune, Maharashtra, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaPune
Incorporated2015 · Private company
Secured loans1 open
Directors on recordMonali Vinod Tambhale, Vinod Amrutrao Tambhale2 directors
Monali Vinod TambhaleDirector · since 2015
Vinod Amrutrao TambhaleDirector · since 2015
Financials locked for 1 of 4 mid-size paper millsRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
An Usedless Paper Private Limited is a private company incorporated in 2015, with its registered office in Mumbai, Maharashtra, classified under business services (consulting, advertising, staffing). In FY25 it reported revenue of ₹9.8 crore, up 8% on the year before, with a net margin of 16.6%.
Revenue (FY25)₹9.8 crore
Growth vs prior year+8%
Net margin16.6%
Net worth₹6.7 crore
Paid-up capital₹1.2 lakh
AreaMumbai
Incorporated2015 · Private company
Directors on recordAkshay Surana, Nikunj Kamal Jaisalmeria2 directors
Sun Fine Papers Private Limited is a private company incorporated in 2004, with its registered office in Mumbai, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹7.2 crore, down 19% on the year before, with a net margin of −0.5%.
Revenue (FY25)₹7.2 crore
Growth vs prior year−19%
Net margin−0.5%
Net worth₹3.8 crore
Paid-up capital₹50 lakh
AreaMumbai
Incorporated2004 · Private company
Secured loans2 open
Offers600 different colors of paper on more…
Directors on recordBharat Devshi Shah, Pratik Devshi Shah2 directors
Bharat Devshi ShahWholetime Director · since 2004
Pratik Devshi ShahWholetime Director · since 2004
ProductsColoured Board And Paper1 product
Product 01 / 01
Coloured Board And Paper
PriceOn request
1 / 1
03 · FY25 accounts · Mumbai
J
Jackson Paper Products Private Limited
Jackson Paper Products Private Limited , was established in the year 1962, are a reputed firm engaged in the manufacturing and supplying of a comprehensive range of Tissue Paper, Facial Tissue Paper and Toilet Rolls.
Jackson Paper Products Private Limited is a private company incorporated in 1995, with its registered office in Mumbai, Maharashtra, classified under paper products. In FY25 it reported revenue of ₹7.2 crore, down 11% on the year before, with a net margin of 2.2%.
Incepted in the year 1984, S Doshi Papers Industries Pvt. Ltd. is one of the pioneer business names affianced in the business of presenting a wide and comprehensive consignment of Industrial Tapes and Papers .
S.Doshi Papers Industries Pvt Ltd is a private company incorporated in 1983, with its registered office in Mumbai, Maharashtra, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Bang Papers Pvt. Ltd. is a company that supplies high-quality paper products. The company's product offerings are detailed on its website, along with information about the company and purchase options. With local warehouses in Andhra Pradesh, the company provides products and services to customers in the region.
Bang Papers Private Limited is a private company incorporated in 2007, with its registered office in Mumbai, Maharashtra, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Manufacturer of traditional British foods and drinks. It sources primary ingredients within the United Kingdom, ensuring consistent quality and supply. Producing partners maintain strong track records and reputations for quality. Products utilize only natural ingredients, excluding artificial flavorings or colorings. The company focuses on building relationships with suppliers, retailers, distributors, and the catering and international trades, maintaining high standards and excellent product quality. Its products are not sold through major supermarkets.
Gourang Paper Products Private Limited is a private company incorporated in 2002, with its registered office in Kolhapur, Maharashtra, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaKolhapur
Incorporated2002 · Private company
Brand founded2013
Key peopleMukul Kulkarni (Founder & Owner)
OffersBio degradable Paper Bags, Gift Articles, Paper Products
Secured loans registered against company assets. The median open loan is ₹56 lakh.
Lender
Companies
Loans
Open borrowings
State Bank Of India
52
163
₹552 crore
HDFC Bank
31
55
₹480 crore
Bank Of India
24
77
₹318 crore
Canara Bank
21
107
₹157 crore
Axis Bank
21
41
₹285 crore
Bank Of Baroda
20
42
₹57.7 crore
ICICI Bank
19
53
₹168 crore
Bank Of Maharashtra
18
41
₹19.3 crore
Frequently asked questions
How many paper mills are there in Maharashtra?
The register lists 559 active paper mills in Maharashtra; 20 have filed accounts and 19 are tracked in Radar.
What is the biggest of the paper mills in Maharashtra?
By latest revenue: Gayatrishakti Paper & Boards Limited (₹895 crore, FY25); Shah Paper Mills Limited (₹888 crore, FY25); Mehali Papers Private Limited (₹701 crore, FY25).
How much revenue do paper mills in Maharashtra generate?
The 20 companies with accounts on file reported ₹3,707 crore in their latest year; the median is ₹26.8 crore and the top ten make up 98%.
Are paper mills in Maharashtra profitable?
80% of filers reported a profit and the median net margin is 1.9%; median revenue growth is −0%.
Which city in Maharashtra has the most paper mills?
Mumbai (282); Thane (57); Pune (55).
Which banks lend to paper mills in Maharashtra?
State Bank Of India (52 companies); HDFC Bank (31 companies); Bank Of India (24 companies); Canara Bank (21 companies).
Companies come from the Ministry of Corporate Affairs register (active companies; incorporations through 2022). Revenue, profit and net worth are the latest statutory accounts on file for companies that file them, standalone where available; companies without accounts are not in revenue figures. Secured loans are charges registered against company assets. Hiring is from Fliar Radar job tracking. Directory figures come from business-directory listings collected in 2026 (reviews to 2021). Counts are a floor: some incorporation years are only partly covered.
Quality approval, Coated Packaging Board… +35 products
