Naini Papers

What Naini Papers does

Naini Papers Limited (CIN: U21090UR1995PLC033469) is an integrated Indian paper manufacturer incorporated in 1995 and headquartered in Kashipur, Uttarakhand, with a sales and marketing office in Gurugram. The company produces writing, printing, and photocopy paper; industrial grade papers (Absorbent Kraft, Agro Pulp, Cup Stock); and coated specialty papers (C1S, C2S, oil-and-grease resistant, and other specialty grades). Its products serve publishing and education, flexible packaging and labels, high-pressure laminates, and disposable tableware industries. The company is positioned among the top two largest integrated coated specialty paper manufacturers in India as of Fiscal 2025, with total installed capacity exceeding 265,000 TPA across three paper machines.

The company operates an integrated hardwood and agro residue pulp mill employing Opti Batch-C cooking, two-stage oxygen delignification, ICF bleaching, and elemental chlorine-free (ECF) bleaching with chlorine dioxide. Process technology includes a Plant Information Management System (PIMS) for automation and intercommunication, a 550 TDS high-efficiency recovery boiler with electrostatic precipitator generating 10.2 MWh, a DCS-based biomethanation plant from Hydrothane (Netherlands) that recovers biogas for boiler fuel, a Ballmer sludge dewatering press, an Opti Disc Filter for liquor conversion, and a Zero Liquid Discharge (ZLD) plant achieving more than 99% water recovery. Certifications include FSC Forest Management and Chain of Custody, US FDA 21 CFR 176.170 food contact compliance, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and BIS.

Revenue is generated through direct manufacture and sale of paper products on a quote-based pricing model, distributed through a regional distributor network spanning Northern, Central, Eastern, and Western India (17+ states), complemented by a direct sales office in Gurugram and a website enquiry system. Customer segments span publishing/education, flexible packaging, labels, laminates, and disposable tableware — a horizontal segmentation approach with no disclosed named anchor accounts. The company is promoter-driven under the Agarwal family, led by Chairman and Managing Director Pawan Agarwal (30+ years in paper, current President of IPMA), with Whole Time Director Mayank Agarwal overseeing operations and procurement, COO Mukesh Kumar Tyagi (38 years in paper), CFO Rucha Pankaj Vikharankar (since 29 September 2025), and a board comprising three executive and five independent directors.

Name

Naini Papers

Legal name

Naini Papers Limited

Website

https://nainigroup.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Naini Papers Limited is an integrated Indian paper manufacturer producing writing, printing, photocopy, industrial grade, and coated specialty papers for publishing, flexible packaging, laminates, and disposable tableware industries across India, operating three paper machines with 265,000+ TPA capacity.

Ownership category

akta.pro rank

Product category

Specialty Paper Manufacturing

NAICS

Paper Manufacturing (322), Pulp, Paper, and Paperboard Mills (3221)

SIC

Paper Mills (2621), Papers & Allied Products (2600)

akta.pro primary industry

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

akta.pro secondary industry

Recycled Printing/Writing & Specialty Paper Manufacturing (IMAMAEAH)

Keywords

• Coated specialty paper
• Writing printing paper
• Industrial grade paper
• Pulp manufacturing
• Paper packaging materials

Headquarters

HQ city

Kashipur

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Paper Manufacturing and Sales: Naini Papers generates revenue through the manufacture and sale of paper products including writing and printing papers, photocopy paper, industrial grade papers, coated art paper, and coated specialty papers. Revenue comes from direct sales to customers across various industries including publishing, education, flexible packaging, labels, high-pressure laminates, and disposable tableware.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Naini Papers Limited is an integrated paper manufacturer that produces writing, printing, photocopy paper, industrial grade papers (Absorbent Kraft, Agro Pulp, Cup Stock), and coated specialty papers (C1S, C2S, Oil & Grease Resistant) from an in-house hardwood and agro-residue pulp mill. The company operates three paper machines with combined capacity exceeding 265,000 TPA and supplies the publishing, education, flexible packaging, labels, high-pressure laminates, and disposable tableware industries across India.

Product overview

Naini Papers Limited is an integrated paper manufacturer operating two paper machines (PM1 and PM2) with a multi-ply board/coated paper machine (PM3), making it one of the top two largest integrated coated speciality paper manufacturers in India. The company offers a diversified product portfolio across three main categories: Writing, Printing & Photocopy Paper products (Maple, Monarque, Naini Perfect Print, Naini Sea White, Naini High Q, Naini Classic Print brands) serving the publishing and education segments; Industrial Grade Papers (Absorbent Kraft, Agro Pulp, Cup Stock) catering to high-pressure laminates and disposable tableware; and Coated Specialty Papers (C1S, C2S, Oil & Grease Resistant, and Other Specialty papers) for flexible packaging and label applications with food safety compliance. The company operates one of India's most modern hardwood and agro residue pulp mills with Elemental Chlorine-Free bleaching technology.

Differentiator

Problem solved

Functional benefit

Brands

• Maple: Writing and printing paper brand available in various GSM weights (70, 75, 80). BIS certified and eco-friendly.
• Monarque
• Naini Perfect Print
• Naini Sea White
• Naini High Q
• Naini Classic Print
• Cup Stock
• Agro Pulp
• Absorbent Kraft
• C1S Speciality Coated Paper
• C2S Speciality Coated Paper
• Oil & Grease Resistant Paper
• Other Speciality Paper

Products and services

• Maple (Writing & Printing Paper) BIS-certified eco-friendly writing and printing paper available in 70, 75, and 80 GSM weights for office documents and professional printing; serves publishers, educational institutions, and stationery brands.
• Monarque (Premium Writing & Printing Paper) Premium writing and printing paper brand for professional and high-quality printing applications; targets corporate, stationery, and high-end publishing customers.
• Naini Perfect Print Writing and printing paper designed for books, brochures, leaflets, and product catalogues with bright smooth finish and outstanding runnability; for publishers and commercial printers.
• Naini Sea White Writing and printing paper with clean bright finish and excellent runnability for notebooks, annual reports, forms, and single color books; targets publishers and corporate stationery buyers.
• Naini High Q Premium writing paper with attractive shades, smooth surface, and excellent runnability for corporate pads, premium notebooks, and high-end books; serves stationery brands and corporate buyers.
• Naini Classic Print Standard writing and printing paper with good bulk properties, clean bright finish, and excellent runnability for notebooks, annual reports, forms, and single color books.
• Absorbent Kraft Industrial grade absorbent kraft paper with water absorbency and porosity properties, supplied with customized specifications to furniture and high-pressure laminate manufacturers.
• Agro Pulp Bleached agro wet pulp derived from agricultural residues with specified burst factor, tear factor, and breaking length; supplied to industrial paper and board manufacturers.
• Cup Stock (Paper Stock) Industrial grade paper stock for paper cup manufacturers with excellent runnability, adhesion, even coating surface, consistent profile, and food safety compliance.
• C1S Speciality Coated Paper One-side coated specialty paper for flexible packaging and label converters requiring premium printability and barrier properties; serves FMCG and packaging brands.
• C2S Speciality Coated Paper Two-side coated specialty paper for packaging converters needing premium printability and barrier properties on both sides; serves premium packaging and printing applications.
• Oil & Grease Resistant Paper Specialty paper with oil and grease resistance for food packaging applications requiring food safety compliance; serves QSR, bakery, and quick-service food packaging converters.
• Other Speciality Paper Miscellaneous specialty coated papers for flexible packaging and label stock applications requiring premium printability and barrier properties.

Quantifiable outcome

• ZLD plant achieving more than 99% water recovery rate
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• Hydrothane (Netherlands)coreTechnology or IntegrationHydrothane supplied the DCS-based Biomethanation plant technology for treating effluent from Bagasse wet bulk storage and wet washing. The recovered Biogas is used as fuel in the boiler, contributing to the company's energy efficiency and environmental sustainability objectives.

Scale indicators5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• JK Paper Ltd: Indian integrated paper manufacturer producing writing/printing, office paper, and specialty packaging grades. Closely comparable to Naini in product mix, domestic distribution model, and mid-cap paper positioning.
• Sirpur Paper Mills Limited: Indian paper manufacturer producing writing, printing, and specialty paper grades. Comparable integrated pulp-paper operations and historical Indian market presence.
• Andhra Pradesh Paper Mills Limited: Indian writing/printing paper manufacturer with integrated pulp and paper operations. Comparable product categories (printing/writing, specialty papers) and Indian-domestic distribution model.
• Tamil Nadu Newsprint and Papers (TNPL): Listed Indian paper manufacturer with bagasse-based pulp and integrated writing/printing paper production. Highly comparable agro-residue pulp model and Indian-domestic distribution focus.
• Star Paper Mills Limited: Indian integrated paper manufacturer producing writing/printing and specialty grades. Comparable mid-cap scale, multi-decade operations, and B2B distribution through dealers across India.
• West Coast Paper Mills Limited: Indian integrated paper and paperboard manufacturer with writing/printing and specialty grades. Comparable scale, multi-machine operations, and Shankar Gupta-led promoter ownership structure.
• Century Pulp & Paper (Century Textiles): BK Birla group company manufacturing writing/printing and specialty paper in India. Comparable integrated mill operations and broad product portfolio across packaging, publishing, and industrial grades.

Broad incumbents

• ITC Limited (Paperboards & Specialty Papers): India's largest paperboard and specialty paper producer within a diversified conglomerate. Comparable coated specialty paper products and packaging customer base; broader portfolio scale advantage.
• Sappi Limited: Global specialty paper and coated paper manufacturer. Comparable coated specialty paper focus, food-contact compliance, and FSC certification profile to Naini's premium product strategy.
• Mondi Group: Global integrated paper and packaging group with significant specialty kraft paper and containerboard operations. Useful comparable for benchmarking premium coated specialty paper economics and FSC-certified strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nainipapers
• LinkedInlinkedin.com/company/nainipapers

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Naini Papers