₹18,730 crore of revenue reported in the latest year (mostly FY25) by the 82 of India's 2,714 paper mills with accounts on file. The ten largest produce 70% of it; the typical filer earns ₹51.7 crore.
Active companies
2,714
paper mills on the register
Reported revenue
₹18,730 crore
82 companies with accounts
Profitable
76%
of filers · India 76%
Secured loans
48.1%
of companies have one on record
What stands out about India's paper mills
01
Revenue
₹18,730 crore
of revenue reported in the latest year (mostly FY25) by the 82 of India's 2,714 paper mills with accounts on file. The ten largest produce 70% of it; the typical filer earns ₹51.7 crore.
02
Profitability
76%
of filers reported a profit (India, same segment: 76%); the median net margin is 1.0% against 1.0% nationally.
03
Growth
+1%
median revenue growth across 82 companies with two consecutive years on file (India: +1%); 7 grew by more than half and 38 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
Funding
19
paper mills in India have outside funding on record at Fliar Radar (investment, incubator or grant support). Most frequent backers: Europa (1), Innogy Venture Capital (1), Canbank Venture Capital Fund (1).
06
Lending
48.1%
of India paper mills have a secured loan on record (India: 48.4%). Most frequent lenders: State Bank Of India (318), HDFC Bank (209), Punjab National Bank (165). Open borrowings against company assets total ₹52,779 crore.
07
Where the money is
35%
of reported revenue comes from Gujarat, which holds 9% of India's paper mills.
Cities with the most paper mills
Companies by the city or district of their registered address.
City
Companies
Share
Reported revenue
Share of revenue
Maharashtra
559
20.6%
₹3,707 crore
20%
Delhi
404
14.9%
₹1,429 crore
8%
Tamil Nadu
266
9.8%
₹232 crore
1%
Gujarat
254
9.4%
₹6,519 crore
35%
West Bengal
198
7.3%
₹224 crore
1%
Uttar Pradesh
189
7.0%
₹1,236 crore
7%
Telangana
162
6.0%
₹569 crore
3%
Andhra Pradesh
98
3.6%
–
–
Punjab
95
3.5%
₹25.6 crore
0%
Karnataka
77
2.8%
₹1,681 crore
9%
Paper Mills in India 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.
Manufacturer of paper products. It's other product includes office, printing, writing & coated papers, office documentation, and packaging & boards. It also provides packaging solutions for various industries like pharmaceuticals, food & beverages, and FMCG.
Jk Paper Limited is a public company incorporated in 1960, with its registered office in Gujarat, India, classified under paper products. In FY25 it reported revenue of ₹5,732 crore, down 2% on the year before, with a net margin of 6.4%.
Khanna Paper Mills Limited is a public company incorporated in 1985, with its registered office in Haryana, India, classified under business services (consulting, advertising, staffing). In FY25 it reported revenue of ₹1,900 crore, down 13% on the year before, with a net margin of −2.8%.
AboutListed by Khanna Paper Mills as one of its products or services; details on khannapaper.com.
Product 02 / 06
BROWSE PRODUCT RANGE
AboutListed by Khanna Paper Mills as one of its products or services; details on khannapaper.com.
Product 03 / 06
NEWSPRINT
AboutListed by Khanna Paper Mills as one of its products or services; details on khannapaper.com.
Product 04 / 06
Website Design
AboutListed by Khanna Paper Mills as one of its products or services; details on khannapaper.com.
Product 05 / 06
Website Development
AboutListed by Khanna Paper Mills as one of its products or services; details on khannapaper.com.
Product 06 / 06
Website Maintenance
AboutListed by Khanna Paper Mills as one of its products or services; details on khannapaper.com.
1 / 6
03 · FY25 accounts · Karnataka
B
Bank Note Paper Mill India Private Limited
Bank Note Paper Mill India Private Limited is a private company incorporated in 2010, with its registered office in Karnataka, India, classified under paper products. In FY25 it reported revenue of ₹1,279 crore, up 12% on the year before, with a net margin of 18.4%.
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 Maharashtra, India, 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
AreaMaharashtra
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 Maharashtra, India, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
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 Maharashtra, India, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Ashapura Paper Mills Pvt. Ltd. is a leading Manufacturer based in Bhuj.we are committed to delivering quality products and services.
Ashapura Paper Mills Private Limited is a private company incorporated in 2010, with its registered office in Gujarat, India, classified under paper products. In FY18 it reported revenue of ₹94.9 crore, up 86% on the year before, with a net margin of 0.1%.
Pratima Agro And Paper Private Limited is a private company incorporated in 2004, with its registered office in Odisha, India, classified under paper products. In FY25 it reported revenue of ₹84.7 crore, down 20% on the year before, with a net margin of 5.7%.
Revenue (FY25)₹84.7 crore
Growth vs prior year−20%
Net margin5.7%
Net worth₹22.1 crore
Paid-up capital₹2.6 crore
AreaOdisha
Incorporated2004 · Private company
Brand founded2018
Secured loans1 open
Directors on recordAlhadini Meher, Sitaram Meher, Pravakar Meher3 directors
Shree Rajeshwaranand Paper Mills Limited is a public company incorporated in 1991, with its registered office in Gujarat, India, classified under paper products. In FY20 it reported revenue of ₹76.6 crore, down 42% on the year before, with a net margin of −18.9%.
Online B2B marketplace paper and packaging products. It provides a marketplace that allows users to purchase and trade packaging items such as cardboard boxes, paper bowls, trays, cups, plastic wraps, lids, pulp, handmade paper, and more.
Thirumals Paper Arizona Private Limited is a private company incorporated in 2022, registered in India, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
ProfileAnsal University Gurgaon BBA 2005, Cardiff University MBA 2007
EducationCardiff University
Based inDelhi
LinkedIn25K followers · Greater Delhi Area
AboutAt Paper Arizona, we're transforming the paper industry, leveraging my MBA from Cardiff
LanguagesEnglish, Hindi, Punjabi
05 · FY25 accounts · Delhi
S
Super (india) Paper Private Limited
Established in the year of 1995 , “ Super India Paper Private Limited ” are Wholesale Trader And Service Provider of an extensive array of P aper Roll, Paper Board, Paper Sheet, Duplex Board, Hard Board, Glassine And Butter Paper, Kraft Paper Board, Art Card Paper, Black Board Paper, SBS Board, Die Cutting Services, Mill Board Paper, etc. We direct all our activities to cater the expectations of customers by providing them excellent quality products as per their gratification. Moreover, we follow moral business policies and crystal pure transparency in all our transactions to keep healthy relations with the customers.
Super (india) Paper Private Limited is a private company incorporated in 1995, with its registered office in Delhi, India, classified under wholesale trade. 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
AreaDelhi
Incorporated1995 · Private company
OffersHWC Duplex Board, Hwc White Back Duplex Board, LWC Plain Duplex Board, Grey Kappa Board
Directors on recordVivek Taneja, Krishan Lal Taneja2 directors
Vivek TanejaDirector · since 1995
Krishan Lal TanejaDirector · since 1995
ProductsHWC Duplex Board, Hwc White Back Duplex Board +35 products
Omshree Papers Private Limited is a private company incorporated in 2003, with its registered office in Delhi, India, 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
AreaDelhi
Incorporated2003 · Private company
Secured loans4 open
Directors on recordGaurav Mittal, Saurabh Mittal2 directors
Gaurav MittalDirector · since 2017
Saurabh MittalAdditional Director · since 2020
Financials locked for 23 of 26 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 Maharashtra, India, 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
AreaMaharashtra
Incorporated2015 · Private company
Directors on recordAkshay Surana, Nikunj Kamal Jaisalmeria2 directors
Provider of online newspaper. It offers daily news coverage on various topics, including nation, regional, politics, sports, entertainment. It provides daily updates and features news articles, editorials, and analysis.
Veer Arjun News Papers Private Ltd is a private company incorporated in 1987, with its registered office in Delhi, India, classified under business services (consulting, advertising, staffing). In FY25 it reported revenue of ₹9.4 crore, down 5% on the year before, with a net margin of −2.9%.
Revenue (FY25)₹9.4 crore
Growth vs prior year−5%
Net margin−2.9%
Net worth−₹4.9 crore
Paid-up capital₹12.1 lakh
AreaDelhi
Incorporated1987 · Private company
Brand founded2011
Directors on recordAnil Narendra, Aditya Narendra, Geetanjalei Singh3 directors
Sun Fine Papers Private Limited is a private company incorporated in 2004, with its registered office in Maharashtra, India, 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
AreaMaharashtra
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
04 · FY25 accounts · Maharashtra
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 Maharashtra, India, classified under paper products. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Manufacturer of high-end gears, prismatic parts, and sub-assemblies. It provides solutions for diverse industries, including automotive, industrial, and rail sectors. The company offers design expertise and manufacturing capabilities to meet customer challenges. Its manufacturing processes adhere to international standards, ensuring top-notch products. Services include co-engineering and gear calculations, alongside make-to-print manufacturing. In-house heat treatment control ensures critical process management. Supply chain optimization is tailored to customer needs.
Shree Sati Paper Private Limited is a private company incorporated in 2008, with its registered office in West Bengal, India, 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
AreaWest Bengal
Incorporated2008 · Private company
Brand founded2020
Directors on recordVineet Bajoria, Bimal Kumar Bajoria2 directors
Rama Paper Mills Limited is a public company incorporated in 1985, with its registered office in Uttar Pradesh, India, classified under basic metals (iron, steel). 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
AreaUttar Pradesh
Incorporated1985 · Public company
BackingCorporate
Secured loans2 open
Directors on recordPramod Agarwal, Arun Goel, Amarjeet Sandhu4 directors
Pramod AgarwalManaging Director · since 1985
Arun GoelWholetime Director · since 1992
Amarjeet SandhuDirector · since 2015
Vijay Pal SinghDirector · since 2019
Financials locked for 20 of 23 smaller paper millsRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
Secured loans registered against company assets. The median open loan is ₹1 crore.
Lender
Companies
Loans
Open borrowings
State Bank Of India
318
698
₹9,054 crore
HDFC Bank
209
360
₹2,936 crore
Punjab National Bank
165
709
₹2,869 crore
Bank Of Baroda
131
402
₹1,986 crore
Axis Bank
128
205
₹1,748 crore
Bank Of India
116
299
₹801 crore
Union Bank Of India
109
211
₹1,534 crore
Canara Bank
104
362
₹2,285 crore
Backed paper mills in India
Companies with venture, private-equity, incubator or grant funding on Fliar Radar, most recent rounds first.
Company
Backing
Latest round
Backers on record
Named backers
Sukraft
Seed
Angel · 2025-09
1
–
Voith
Debt-Financed
Grant (prize money) · 2023-01
1
Europa, Innogy Venture Capital
JK Paper
Corporate
Conventional Debt · 2018-11
1
–
Samman Lal Sher Singh Papers
Deadpooled
Seed · 2016-10
–
–
Gayatrishakti Paper & Boards
VC-Backed
Series A · 2014-04
–
–
Andhra Paper
Acquired
–
–
–
Shree Ajit Pulp & Paper
Public
–
–
–
Wcpm
Public
–
–
–
Mysore Paper Mills
Deadpooled
–
–
–
Sree Kailas Group
Corporate
–
–
–
Frequently asked questions
How many paper mills are there in India?
The register lists 2,714 active paper mills in India; 82 have filed accounts and 72 are tracked in Radar.
What is the biggest of the paper mills in India?
By latest revenue: Jk Paper Limited (₹5,732 crore, FY25); Khanna Paper Mills Limited (₹1,900 crore, FY25); Bank Note Paper Mill India Private Limited (₹1,279 crore, FY25).
How much revenue do paper mills in India generate?
The 82 companies with accounts on file reported ₹18,730 crore in their latest year; the median is ₹51.7 crore and the top ten make up 70%.
Are paper mills in India profitable?
76% of filers reported a profit and the median net margin is 1.0%; median revenue growth is +1%.
Which city in India has the most paper mills?
Maharashtra (559); Delhi (404); Tamil Nadu (266).
Which banks lend to paper mills in India?
State Bank Of India (318 companies); HDFC Bank (209 companies); Punjab National Bank (165 companies); Bank Of Baroda (131 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.
Coated Paper Board, Packaging Board +46 products
