India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kuantum-papers-ltd" target="_blank" data-smartkarma-citation="entities:13797:1" rel="noopener">Kauntam Papers (KAUN IN)</a> reported stable Q4 FY25 volumes but lower revenue/profit YoY amidst industry headwinds, while progressing on a significant capacity expansion by 50%.</li>
<li>The company demonstrated margin resilience despite challenging raw material(wood) and import dynamics with expectation of price surge by 6-7% in next 6 months.
</li>
<li>Ongoing capex project of INR 735 crores is on track for completion by Mar-26 where purchase orders worth INR 540 crores already issued, remaining in final stages. </li>
</ul>



Kauntam Papers (KAUN IN) reported stable Q4 FY25 volumes but lower revenue/profit YoY amidst industry headwinds, while progressing on a significant capacity expansion by 50%.
The company demonstrated margin resilience despite challenging raw material(wood) and import dynamics with expectation of price surge by 6-7% in next 6 months.

Ongoing capex project of INR 735 crores is on track for completion by Mar-26 where purchase orders worth INR 540 crores already issued, remaining in final stages. 


Kuantum Papers Q4 FY25 Update: Navigating Headwinds, Betting on 50% Expansion & Realisation Turnover

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kuantum-papers-ltd" target="_blank" data-smartkarma-citation="entities:13797:1" rel="noopener">Kauntam Papers (KAUN IN)</a>'s Q3 &amp; 9M FY25 results show revenue and EBITDA declines, yet steady sales volumes, cost optimization initiatives, and ongoing mill expansion efforts.</li>
<li>Strategic cost management and mill expansion position the company to mitigate revenue challenges, ensuring long-term competitiveness in a dynamic paper industry.</li>
<li>Industry is also asking for anti-dumping duty on some set of paper, especially copier, to make a level playing field with imported products.</li>
</ul>



Kauntam Papers (KAUN IN)'s Q3 &amp; 9M FY25 results show revenue and EBITDA declines, yet steady sales volumes, cost optimization initiatives, and ongoing mill expansion efforts.
Strategic cost management and mill expansion position the company to mitigate revenue challenges, ensuring long-term competitiveness in a dynamic paper industry.
Industry is also asking for anti-dumping duty on some set of paper, especially copier, to make a level playing field with imported products.


Kuantum Papers Limited Q3 Update: Navigating Market Pressures with Strategic Initiatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kuantum-papers-ltd" target="_blank" data-smartkarma-citation="entities:13797:1" rel="noopener">Kauntam Papers (KAUN IN)</a> is implementing a significant capacity expansion project, estimated to increase production capacity by 50% within 18 months. Total Capex: 735Cr, including debt of Rs. 535 crore.</li>
<li>Despite recent industry challenges, Kuantum Papers maintained a healthy EBITDA margin of approximately 22% Q2FY25. The company expects improved margins with anticipated demand increases and raw material price stabilization.</li>
<li>Under Project NIRMAN, focused on Industry 4.0 integration, the company has successfully implemented online sensors and control logic in its wood bleach section, improving automation and efficiency.</li>
</ul>



Kauntam Papers (KAUN IN) is implementing a significant capacity expansion project, estimated to increase production capacity by 50% within 18 months. Total Capex: 735Cr, including debt of Rs. 535 crore.
Despite recent industry challenges, Kuantum Papers maintained a healthy EBITDA margin of approximately 22% Q2FY25. The company expects improved margins with anticipated demand increases and raw material price stabilization.
Under Project NIRMAN, focused on Industry 4.0 integration, the company has successfully implemented online sensors and control logic in its wood bleach section, improving automation and efficiency.


The Beat Ideas: Kuantum Papers' Strategic Expansion and Product Innovation

Thematic (Sector/Industry)

<ul>
<li>India’s paper imports hit a record 2.05 million tonnes in FY25, doubling over four years due to FTAs and zero-duty access for low-cost producers.</li>
<li>Domestic mills are shutting down as predatory imports undermine a sector vital to rural jobs, sustainability, and national development goals like Clean India and education. </li>
<li>With policy momentum building post-PAPEXPO 2025 and past success of anti-dumping duties, trade protection for paper now appears not just likely but urgent.</li>
</ul>


India’s paper imports hit a record 2.05 million tonnes in FY25, doubling over four years due to FTAs and zero-duty access for low-cost producers.
Domestic mills are shutting down as predatory imports undermine a sector vital to rural jobs, sustainability, and national development goals like Clean India and education. 
With policy momentum building post-PAPEXPO 2025 and past success of anti-dumping duties, trade protection for paper now appears not just likely but urgent.


India’s Paper Industry Under Siege: Why Urgent Anti-Dumping Action Is Critical to Save Jobs.

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>The paper industry is poised for gradual recovery by FY26, driven by strategic product diversification, integration, and acquisitions, with high-margin segments like tissue and packaging leading the way.</li>
<li>Despite cautious capex, companies focusing on inorganic growth and regional access via acquisitions, like ITC’s Century Pulp deal, will enhance market positioning.</li>
<li>As plantations mature, and anti-dumping measures take effect, the industry could stabilize by FY26, with integrated players gaining faster margin recovery.</li>
</ul>


The paper industry is poised for gradual recovery by FY26, driven by strategic product diversification, integration, and acquisitions, with high-margin segments like tissue and packaging leading the way.
Despite cautious capex, companies focusing on inorganic growth and regional access via acquisitions, like ITC’s Century Pulp deal, will enhance market positioning.
As plantations mature, and anti-dumping measures take effect, the industry could stabilize by FY26, with integrated players gaining faster margin recovery.


Thematic Report: Indian Paper Industry- Low Margin, China Dumping, Capex

India

Kuantum Papers Limited manufactures writing and printing paper.

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Kauntam Papers (KAUN IN)

Kuantum Papers Q4 FY25 Update: Navigating Headwinds, Betting on 50% Expansion & Realisation Turnover

Kauntam Papers reported stable Q4 FY25 volumes but lower revenue/profit YoY, progressing on significant capacity expansion amidst industry...

Sudarshan Bhandari

Kuantum Papers Limited Q3 Update: Navigating Market Pressures with Strategic Initiatives

Kauntam Papers faces revenue decline in Q3 & 9M FY25, but steady sales volumes and cost optimization efforts position them for long-term...

Sudarshan Bhandari

The Beat Ideas: Kuantum Papers' Strategic Expansion and Product Innovation

Kauntam Papers is expanding production capacity by 50% with a Rs. 735Cr investment, maintaining healthy EBITDA margins and implementing Industry...

Sudarshan Bhandari

India’s Paper Industry Under Siege: Why Urgent Anti-Dumping Action Is Critical to Save Jobs.

India's record paper imports threaten domestic mills, rural jobs, and national development goals, prompting urgent need for trade protection.

Sudarshan Bhandari

Thematic Report: Indian Paper Industry- Low Margin, China Dumping, Capex

The paper industry is expected to recover by FY26 through product diversification, acquisitions, and strategic growth, with high-margin segments...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Kuantum Papers Q4 FY25 Update: Navigating Headwinds, Betting on 50% Expansion & Realisation Turnover

​Kauntam Papers reported stable Q4 FY25 volumes but lower revenue/profit YoY, progressing on significant capacity expansion amidst industry...

Sudarshan Bhandari

Kuantum Papers Limited Q3 Update: Navigating Market Pressures with Strategic Initiatives

​Kauntam Papers faces revenue decline in Q3 & 9M FY25, but steady sales volumes and cost optimization efforts position them for long-term...

Sudarshan Bhandari

The Beat Ideas: Kuantum Papers' Strategic Expansion and Product Innovation

​Kauntam Papers is expanding production capacity by 50% with a Rs. 735Cr investment, maintaining healthy EBITDA margins and implementing Industry...

Sudarshan Bhandari

India’s Paper Industry Under Siege: Why Urgent Anti-Dumping Action Is Critical to Save Jobs.

​India's record paper imports threaten domestic mills, rural jobs, and national development goals, prompting urgent need for trade protection.

Sudarshan Bhandari

Thematic Report: Indian Paper Industry- Low Margin, China Dumping, Capex

​The paper industry is expected to recover by FY26 through product diversification, acquisitions, and strategic growth, with high-margin segments...

Nimish Maheshwari

Kauntam Papers reported stable Q4 FY25 volumes but lower revenue/profit YoY, progressing on significant capacity expansion amidst industry...

Kauntam Papers faces revenue decline in Q3 & 9M FY25, but steady sales volumes and cost optimization efforts position them for long-term...

Kauntam Papers is expanding production capacity by 50% with a Rs. 735Cr investment, maintaining healthy EBITDA margins and implementing Industry...

India's record paper imports threaten domestic mills, rural jobs, and national development goals, prompting urgent need for trade protection.

The paper industry is expected to recover by FY26 through product diversification, acquisitions, and strategic growth, with high-margin segments...