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Andhra PaperNSE:ANDHRAPAP -1.21%75 Graham Number is ₹45.42 as of Mar. 2026, which is 100% below its 10-year median of 0.77. GuruFocus rates NSE:ANDHRAPAP with a GF Score™ of 75/100 and a GF Value™ of ₹85.65 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 171 Forest Products companies, Andhra Paper ranks worse than 73.1% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-27), the stock price of Andhra Paper is ₹62.59. Andhra Paper's graham number for the quarter that ended in Mar. 2026 was ₹45.42. Therefore, Andhra Paper's Price to Graham Number ratio for today is 1.38.
The historical rank and industry rank for Andhra Paper's Graham Number or its related term are showing as below:
NSE:ANDHRAPAP'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.27 Med: 0.77 Max: 1.73
Current: 1.35
During the past 13 years, the highest Price to Graham Number ratio of Andhra Paper was 1.73. The lowest was 0.27. And the median was 0.77.
NSE:ANDHRAPAP's Price-to-Graham-Number is ranked worse than 73.1% of 171
companies
in the Forest Products industry
Industry Median: 0.92
vs NSE:ANDHRAPAP: 1.35
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Andhra Paper (NSE:ANDHRAPAP) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Andhra Paper's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
62.59
/
45.42
=
1.38
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Andhra Paper Graham Number Related Terms
Andhra Paper Graham Number Historical Data
* Premium members only.
The historical data trend for Andhra Paper's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Paper & Paper Products subindustry, Andhra Paper's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Andhra Paper Price-to-Graham-Number vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Andhra Paper's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Andhra Paper's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Andhra Paper (NSE:ANDHRAPAP) has a Graham Number of ₹45.42 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Andhra Paper and its competitors. This is 5799% above median its historical median of 0.77. Over the past decade, Andhra Paper's Graham Number has ranged from 0.27 to 1.73. According to the industry distribution chart, Andhra Paper ranks #125 out of 171 companies in the Forest Products industry, placing it in the top 73.1%.
Is Andhra Paper's Graham Number too high?
Andhra Paper's current Graham Number of ₹45.42 is 5799% above median its 10-year median of 0.77. Over the past 10 years, this metric has ranged from a low of 0.27 to a high of 1.73. Based on the distribution chart, Andhra Paper ranks #125 out of 171 companies in the Forest Products industry, which is below the industry midpoint. Overall, Andhra Paper has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Andhra Paper's Graham Number compare to competitors?
According to the Forest Products industry distribution chart, Andhra Paper ranks #125 out of 171 companies for Graham Number. This places Andhra Paper in the lower half of its industry. The industry median Graham Number is 0.92. Historically, Andhra Paper's own Graham Number has ranged from 0.27 to 1.73 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Forest Products company?
The median Graham Number among Forest Products companies is 0.92, based on 171 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Andhra Paper and its competitors. For the Forest Products industry, the median Graham Number is 0.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Andhra Paper's current Graham Number is ₹45.42, which is 5799% above median its own 10-year median of 0.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Andhra Paper stock overvalued right now?
Based on GuruFocus' analysis, Andhra Paper (NSE:ANDHRAPAP) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹85.65, compared to a current price of ₹62.59 — trading 26.9% below its estimated fair value. The current Graham Number is ₹45.42, which is 5799% above median its 10-year median of 0.77. Andhra Paper's overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Andhra Paper (NSE:ANDHRAPAP), the current Graham Number is ₹45.42 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Andhra Paper (NSE:ANDHRAPAP) Overvalued in 2026?
Based on GuruFocus' analysis, Andhra Paper stock appears to be undervalued.
The current stock price of ₹62.59 is trading 26.9% below its estimated GF Value™ of ₹85.65.
GuruFocus considers Andhra Paper to be Modestly Undervalued.
Key valuation signals for NSE:ANDHRAPAP:
Graham Number: ₹45.42 (5799% above median its 10-year median of 0.77)
GF Value™: ₹85.65 vs. price of ₹62.59 (26.9% below fair value)
No single metric tells the full story. See the NSE:ANDHRAPAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Andhra Paper Ltd is an integrated paper and pulp manufacturer in India. The company is engaged in the business of manufacturing pulp, paper, and paperboard and produces writing, printing, copier, and industrial papers for Indian and international markets. In addition, the company also provides a range of office documentation and multipurpose papers, from economy to premium grades for both home and commercial use. The company generates maximum revenue from its business in India and the rest from the sale of its products outside India.
75GF Score
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