How did the new assets affect Pudumjee's profitability?

The EBITDA margin was 18%, unchanged from the prior year. The flat margin suggests the new assets did not squeeze profits in their first months of operation.

What is the scale of the capex relative to the company's size?

The ₹110 crore spent on new capacity is a large allocation for a company with annual revenue of ₹807.88 crore.

When did the solar plant start operating?

The 15.4 MW solar plant at Bhalwani, Solapur, was commissioned in December 2025. It is expected to cover about 35% of annual power requirements.

What else did the capex programme include?

Beyond the solar plant, the programme included an AFBC boiler and the modernisation of paper machines.

Earnings · Paper Products · Micro cap

Pudumjee spent ₹110 cr on upgrades. Revenue stayed flat.

A micro-cap put a large share of its annual revenue into a solar plant and modernized machines. The top line did not move.

— 4 earlier stories on Pudumjee Paper Products Ltd. →

PDMJEPAPER By Tipsheet Editorial 22 May 2026 · 4:04 PM IST Verify on BSE · NSE

Mkt cap₹784 cr

P/E8.38×

ROE16.43%

Debt / eq.0.02

Div yld0.73%

₹110 cr Capex completed in FY2026, including a solar plant.

What's new

FY2026 revenue was ₹807.88 cr, nearly unchanged from ₹809.08 cr a year earlier.
EBITDA margin held at 18%, showing no immediate profit impact from the new assets.
The ₹110 cr capex included a 15.4 MW solar plant commissioned in December 2025.

Why this matters

Deploying ₹110 crore of capex is a major event for a company with ₹807.88 crore in annual revenue. The spending is done. The next filing must show if the new solar plant, boiler, and modernised machines can break the revenue stagnation.

What we're watching

Whether the new assets drive any revenue lift in the next results.
The Mahad project, for which an environment clearance application is being prepared.
Cost savings from the solar plant covering 35% of power needs.

The full read

Pudumjee Paper Products spent ₹110 crore on new capacity in a year where revenue was ₹807.88 crore. That is a big bet for a micro-cap. The centrepiece is the 15.4 MW solar plant commissioned in December 2025, built to cover 35% of annual power needs. The package also included an AFBC boiler and paper-machine upgrades. The EBITDA margin held at 18%, which means the new assets haven't yet hit the cost structure either way. Revenue was effectively flat year-on-year, at ₹809.08 crore in the prior year. The capital is deployed. The next results will show if it can move the top line.

Questions answered

How did the new assets affect Pudumjee's profitability?: The EBITDA margin was 18%, unchanged from the prior year. The flat margin suggests the new assets did not squeeze profits in their first months of operation.
What is the scale of the capex relative to the company's size?: The ₹110 crore spent on new capacity is a large allocation for a company with annual revenue of ₹807.88 crore.
When did the solar plant start operating?: The 15.4 MW solar plant at Bhalwani, Solapur, was commissioned in December 2025. It is expected to cover about 35% of annual power requirements.
What else did the capex programme include?: Beyond the solar plant, the programme included an AFBC boiler and the modernisation of paper machines.

Mentioned: ₹110 cr capex · 15.4 MW solar plant · Mahad project

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

All notes on PDMJEPAPER →

22 May 2026 · 4:04 PM IST Pudumjee spent ₹110 cr on upgrades. Revenue stayed flat.
today Pudumjee plans to sell surplus solar and wind power from its plants
15d ago Pudumjee Paper Products holds steady in FY26 results
15d ago Pudumjee Paper Products holds dividend steady after flat year
15d ago Pudumjee Paper Products holds dividend steady after flat FY26 results