The printing and stationery sector in India has been gaining attention in recent years. This shift in perception may be partly due to increased focus on education and evolving consumer needs. For instance, in the recent Union Budget 2025, a total allocation of ₹128,650 crore was made towards education, a 6.22% increase compared to the previous year.
Such developments could potentially support steady demand for books, stationery products, as well as printing and packaging services. In the sections ahead, we explore a selection of printing stocks and stationery stocks that could be worth watching in 2025.
Which are the best printing and stationery stocks?
Let’s have a look at the top stationery and printing stocks based on market capitalisation as of 16 April 2025:
| Company | Market Cap (₹ Cr) | Current Market Price (₹) | Price-to-Earnings Ratio | Dividend Yield (%) | ROE (%) | Promoter Holding (%) |
| Doms Industries Ltd | 17,363 | 2,861 | 87.3 | 0.10 % | 26.6 % | 70.4 % |
| Navneet Education Ltd | 3,186 | 141 | 15.2 | 1.86 % | 15.7 % | 63.4 % |
| Flair Writing Industries Ltd | 2,559 | 243 | 21.9 | 0.00 % | 18.0 % | 78.6 % |
| Kokuyo Camlin Ltd | 1,098 | 110 | 92.5 | 0.46 % | 14.5 % | 75.0 % |
| S Chand & Company Ltd | 733 | 208 | 14.7 | 1.43 % | 5.22 % | 47.1 % |
(As of 16 April 2025)
1. Doms Industries Ltd
Doms Industries comes under the DOMS Group and is a company in the stationery and art sector. Its main work is to design, develop, and sell various stationery products.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 405 | 684 | 1,212 | 1,537 | 1,404 |
| EBITDA | 25 | 70 | 187 | 273 | 260 |
| Net profit | -7 | 14 | 96 | 153 | 154 |
| EPS (In ₹) | -171.50 | 359.00 | 2395.25 | 25.23 | 32.80 |
The company maintained a healthy revenue growth of 34.8% in Q3FY25, and the revenue reached ₹501 crores. Further, the company’s EBITDA margins stood at 18%, and the net profit was reported at ₹50 crores.
For the full nine months of the financial year 2025, the company has already spent around ₹100 crores on CAPEX and has made an additional CAPEX investment of ₹11.5 crores for the installation of a diaper manufacturing line.
2. Navneet Education Ltd
Navneet Education is a stationery company which is mainly engaged in the business of making and selling educational books and technical-professional books to its customers.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 832 | 1,112 | 1,694 | 1,748 | 1,352 |
| EBITDA | 88 | 94 | 291 | 296 | 240 |
| Net profit | 56 | 76 | 205 | 252 | 711 |
| EPS (In ₹) | 2.44 | 3.34 | 9.04 | 11.12 | 33.55 |
The company’s net profit reached ₹14 crore in Q3 FY25, where the EBITDA margins were sustained in the range of 6%, and the revenue grew by 9.1% year-on-year, reaching ₹282 crore.
The company is expecting the publication business margin to reach 27% to 28% for FY25, and for the next financial year, FY26, the management has given a margin guidance of 30%. Further, for the stationery business, for FY25, the margins are expected to be in the range of 10% to 11%, and in FY26, it is expected to reach around 13% to 14%.
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3. Flair Writing Industries Ltd
Flair Writing Industries is one of the well-known companies engaged in making and selling writing instruments.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 289 | 554 | 903 | 919 | 693 |
| EBITDA | 23 | 93 | 171 | 176 | 114 |
| Net profit | 1 | 18 | 40 | 40 | 85 |
| EPS (In ₹) | 0.50 | 53.88 | 111.60 | 118.17 | 116.90 |
During Q3FY25, the company made a revenue of ₹692 crores, which was 6.46% more compared to the previous year, whereas the EBITDA margins of the company sustained in the range of 15%, and net profit for the quarter was reported at ₹26 crores.
During the quarter, the company improved its 2mm mechanical pencil range as a substitute for wooden pencils and introduced 33 new pens. Overall, the management expects to improve the margins in the range of 19% to 19.5% in the coming 2 to 3 quarters.
4. Kokuyo Camlin Ltd
Kokuyo Camlin is a stationery company engaged in the manufacturing and selling of writing instruments, books, and other related products.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 403 | 508 | 775 | 816 | 562 |
| EBITDA | 9 | 17 | 54 | 77 | 21 |
| Net profit | -15 | -5 | 24 | 44 | 1 |
| EPS (In ₹) | -1.46 | -0.47 | 2.44 | 4.37 | 1.19 |
The company gave a slightly pressured quarter for Q3FY25 where the revenue reached ₹160 crore, marking a 4.45% year-on-year decline. This drop was majorly due to the festival seasons of Diwali and Christmas, during which the de-growth was seen due to holidays of the students.
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5. S Chand & Company Ltd
S Chand and Company was incorporated in 1970 and is engaged in publishing various educational books and also school products.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 425 | 481 | 610 | 663 | 248 |
| EBITAD | 54 | 62 | 97 | 110 | -68 |
| Net profit | -6 | 11 | 58 | 51 | -78 |
| EPS (In ₹) | -1.85 | 3.20 | 16.36 | 14.53 | 14.45 |
The Q3FY25 quarter for this company reported a revenue of ₹248 crores with 31% YoY growth. However, due to higher expenses, the company’s net profit loss was reported at ₹24 crores.
The management has given a revenue guidance of double-digit numbers for FY25, and the gross margin will be higher compared to last year. EBITDA margin expectations are in the range of 17% to 18%.
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Bottomline
The printing and stationery sector in India is now no longer just about books and pens. It is about innovation, digitalisation, packaging, and also exports. Various companies in the sector keep on adding innovation to boost this sector. Also, the awareness regarding education is increasing, which is also increasing in today’s world with the rise in education and awareness. So, the sector overall has growth potential in the coming years.
FAQs
1. How does seasonality impact the stocks of printing and stationery?
Seasonality plays a very important part in the printing and stationery sector stocks. Demand usually goes up when school admissions start, even during examination periods, and also during the start of the academic year for schools or colleges. At that time, companies usually tend to perform well. But on the other hand, during summer vacations or mid-vacations like Diwali or Christmas, due to holidays for students, the overall demand falls. So in this way, seasonality impacts the companies in this sector.
2. Has digitalisation impacted the printing and stationery sector?
Digitalization has, however, brought a change in the printing and stationery landscape. The macro reason behind this is that more organizations go paperless, and use digital documents, e-learning tools, virtual classes or communication. As a result, the demand for traditional printing and paper has been slightly impacted. However, the companies that offer eco-friendly products or hybrid solutions have managed to stay relevant and create new revenue streams.
3. How is branding important in the printing and stationery sector?
Branding is a very important part of this sector, specifically in competitive markets with both organised as well as unorganised companies. A strong brand usually helps to create trust, loyalty, and faith in the minds of the students, their parents, as well as institutions. Companies which invest in marketing, quality packaging, and school campaigns usually enjoy the repeat of the business.
4. Do printing and stationery sector stocks benefit from government policies?
Yes, printing and stationery stocks are impacted by government policies, as the government often arranges various initiatives like educational programs, rural literacy awareness, and school reforms. In these cases, the government provides high volumes of textbooks, notebooks, and other learning materials to the companies in this sector. As a result, because of these bulk orders, sometimes the profitability and margins of these companies may benefit.
5. How does the packaging segment complement stationery companies?
Packaging is well-suited to what stationery businesses already do, particularly with so many of them being proficient at printing. With more people buying online, there is a greater demand for environmentally friendly packaging. It also keeps them busy and making sales even when stationery is not selling much during particular periods of the year.
