The paper industry plays a crucial role in the manufacturing sector, contributing significantly to economic development, employment generation, and trade. Characterized by capital-intensive operations, high energy consumption, and scale-dependent production, the industry faces unique challenges in maintaining efficiency and competitiveness. Firm characteristics such as size, age, capital intensity, and financial leverage are especially critical in this sector, where operational scale and resource utilization directly impact cost structures and productivity. Larger firms often benefit from economies of scale, while older firms may possess technological experience and market knowledge that enhance performance. On the other hand, high leverage can strain financial stability, reducing a firm’s ability to invest in efficiency-enhancing innovations. Understanding how these characteristics influence firm efficiency is vital for improving operational strategies and policy frameworks. This study aims to examine these firm-specific attributes within the context of the paper industry and assess their relationship with efficiency using quantitative modeling techniques. The efficiency of firms is influenced by a myriad of factors, including firm-specific characteristics. In the context of the Indian paper industry, understanding these relationships is crucial due to the sector's capital-intensive nature and evolving market dynamics. This study examines the relationship between firm-specific characteristics and operational efficiency in the Indian paper industry. This study investigates the influence of firm-specific characteristics on the efficiency of selected paper companies in India. Using secondary data and applying a Regression model, the research evaluates the roles of firm size, age, leverage, and capital intensity in determining operational efficiency. The results indicate that larger and older firms tend to be more efficient, benefiting from experience and scale. Conversely, higher leverage negatively impacts efficiency, highlighting the risks of excessive debt. Capital intensity positively correlates with firm performance, suggesting the importance of technological investment. The findings offer valuable insights for managers, investors, and policymakers aiming to enhance productivity and competitiveness in the manufacturing sector.