Tamil Nadu Newsprint & Papers Ltd (TNPL) — Announcement | 22 September 2026

Tamil Nadu Newsprint & Papers Ltd (TNPL) received a reaffirmation of its CARE A; Stable / CARE A1 credit rating for long-term and short-term bank facilities totaling ₹2,042.94 crore. The rating upgrade reflects improved FY26 operating performance with total income rising to ₹4,669 crore and PBILDT margin expanding to 10.81%, alongside stronger cash flow and modest financial risk profile improvement. Q1FY27 showed continued margin growth to 10.02% and a return to profitability with ₹5.74 crore PAT versus a prior-year loss. The stable outlook anticipates sustained market position and margin recovery from product mix shifts toward higher-margin grades, though risks remain from leveraged capital structure and project execution challenges in tissue paper and steam system revamp initiatives.