Star Paper Mills

What Star Paper Mills does

Star Paper Mills Limited is an integrated pulp and paper manufacturer established in 1938, headquartered in Kolkata, West Bengal, with its single manufacturing mill located in Saharanpur, Uttar Pradesh. The company operates four paper machines producing a portfolio of industrial, packaging, and cultural papers — including kraft papers, MG poster papers, cup stock, maplitho papers, colored papers, and specialty grades such as ledger and bond papers — sold under brands like STAR KRAFT SUPREME, ESQUIRE, ARCTIR, and SS MAPLITHO ROYAL. Production capacity reached 72,000 MT per annum by FY 2008-09, up from 6,000 MT at founding. The firm is publicly listed on BSE (516022), NSE (STARPAPER), and MSEI, and is part of the promoter-controlled Duncan Goenka Group.

The business model is single-segment commodity paper manufacturing with a sales-led go-to-market via a pan-India distribution network coordinated through a marketing office in New Delhi and direct sales from the Saharanpur plant. The firm sells to industrial converters (soap, paper cup, tobacco, battery jacket, corrugated box, and laminate manufacturers), printers and stationery buyers, and government/document security customers. For FY 2025-26, the company reported revenue from operations of Rs. 40,993.82 lakhs (~$48.8M USD) and net profit after tax of Rs. 3,275.34 lakhs. Vertically, the company operates a backward-integrated clonal plant nursery (eucalyptus and poplar varieties bred in-house with FRI Dehradun) that supplies pulpwood to its plantation program. The mill is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified, with installed environmental infrastructure including a Rotary Lime Kiln, an Activated Sludge Process effluent treatment plant, and electrostatic precipitators.

Recent strategic posture is governance-focused: long-tenured promoter directors and the Managing Director (Madhukar Mishra) were reappointed in 2025, three independent directors were added in 2024, and a favorable Rs. 25.01 lakhs income tax ruling was secured in November 2025. Headcount stands at ~136 employees. The investment-relevant profile is a small-cap, promoter-controlled, single-mill commodity paper producer with a multi-decade brand, modest growth, and limited public customer disclosure.

Name

Star Paper Mills

Legal name

Star Paper Mills Limited

Website

https://starpapers.com

Company type

Public

Founded year

1938

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Industrial and Packaging Paper Manufacturing

NAICS

Paper Mills (32212)

SIC

Paper Mills (2621)

akta.pro primary industry

Specialty Paper Manufacturing (Coated, Release, Thermal, Filter, Security) (IMAMAEAC)

Keywords

• Industrial paper manufacturing
• Packaging paper products
• Cultural printing papers
• Kraft paper production
• Pulp mill operations

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Paper and Paper Board Manufacturing: Star Paper Mills generates revenue primarily from manufacturing and selling paper and paper board products. The company operates in a single segment 'Paper, Paper Board and related products'. Revenue from operations for FY 2025-26 was Rs. 40,993.82 lakhs.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Star Paper Mills Limited is an integrated pulp and paper mill established in 1938, manufacturing industrial, packaging and cultural papers at its Saharanpur, U.P. plant using 4 Paper Machines. The company produces a wide range of branded paper products including kraft papers, maplitho papers, colored papers, cup stock, MG poster papers, ledger papers, and bond papers, serving diverse industrial and commercial applications. Additionally, it operates a plantation business producing proprietary eucalyptus and poplar clonal plants for distribution to farmers.

Product overview

Star Paper Mills Limited is an integrated Pulp and Paper Mill established in 1938, producing a wide range of paper products across three main categories: Cultural Papers (maplitho, colored papers, card papers, envelope papers), Industrial Papers (kraft papers, MG poster papers, cup stock, packaging papers), and Other Grades (bond papers, ledger papers, account book papers). The company also operates Star Nursery, producing high-quality eucalyptus and poplar clonal plants for distribution to farmers. The product portfolio serves diverse segments including printing, packaging, soap packaging, paper cup manufacturing, envelope manufacturing, industrial laminates, and commercial printing applications. The mill located at Saharanpur, U.P. has 4 Paper Machines producing products catering to different segments with a distribution network throughout India.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial and Packaging Papers Wide range of industrial and packaging paper products including Kraft papers (STAR KRAFT SUPREME, ESQUIRE, ARCTIR, ECO PLUS, RIBBED KRAFT), MG Poster papers, STAR CUP STOCK, MF STIFFNER, STAR OVERLAY TISSUE, and specialty papers for soap packaging, paper cup manufacturing, carry bags, shopping bags, grocery bags, envelope manufacturing, corrugated boxes, tobacco packing, battery jackets, poly coated wrappers, metalization, and industrial laminates.
• Cultural Papers Cultural paper products including Maplitho papers (watermarked, SS MAPLITHO ROYAL, SS MAPLITHO NS), colored papers (STAR COL PTG in Pink, Yellow, Green, Blue, Baby Pink), STAR CARTRIDGE CARD, MF COVER PAPER, REGALGRAPHIC ENVELOP, STAR PASTEL (for children's scrap books), and STAR CARD BASE, used for printing, copy manufacturing, book printing, diary and calendar printing, security paper printing, envelope manufacturing, and card manufacturing.
• Other Paper Grades (Ledger, Bond, Account Book) Specialty paper grades including STAR AZURLAID ledger paper for ledger applications, SS A/C BOOK account book paper (White/Yellow), STAR BOND papers (MILPACK 100, MILL PACK 500 Sheets, Full Sheet) for thesis writing, pamphlet printing, certificates, letter heads, and COL MULTI PURPOSE colored papers (Baby Pink, Pink, Yellow, Green, Blue) for printing, photo copying, and bill book applications.
• Plantation Clonal Plants (Eucalyptus and Poplar) High-quality genetic clonal plants developed in-house including Eucalyptus varieties (SPM-7, SPM-23, SPM-288, SPM-2070, SPM-405, FRI-32, SPM-11, PJ-04) and Poplar varieties (SPM-39, SPM-81, SPM-83, SPM-109, SPM-110, SPM-112, SPM-113), bred for higher yield than plants from other seed nurseries. Distributed to farmers for pulpwood cultivation.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Duncan Goenka GroupcoreOthersStar Paper Mills is a part of Duncan Goenka Group. The company is associated with ISG Traders Limited (an associate of ISG) and Kavita Marketing Pvt Ltd (group company). Related party transactions include brand usage fees, security deposits, and advisory fees with these entities.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/m-s-star-paper-mills-limited

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Star Paper Mills