The Indian Wood Products Company Ltd

₹ 36.5 -2.83%

01 Oct - close price

About

The Indian Wood Products Company Limited (IWP), incorporated in 1919, manufactures Katha and its by-product Cutch. The wider group also processes Gambier into catechins and trades spices through a 50% Singapore joint venture and its Indonesian subsidiaries. ^[1]

Key Points

History
IWP has produced Katha at Bareilly since 1920 and has been controlled by the Mohta family since the early 1980s. Katha is extracted from Khair wood through a process lasting up to 45 days; Cutch is its by-product. ^[1]

Website BSE NSE

Market Cap ₹ 233 Cr.
Current Price ₹ 36.5
High / Low ₹ 51.0 / 27.0
Stock P/E 60.1
Book Value ₹ 56.5
Dividend Yield 0.55 %
ROCE 2.77 %
ROE 0.98 %
Face Value ₹ 2.00

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Pros

Stock is trading at 0.65 times its book value
Company has been maintaining a healthy dividend payout of 29.0%

Cons

The company has delivered a poor sales growth of 7.74% over past five years.
Company has a low return on equity of 0.91% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Forest Materials Paper, Forest & Jute Products Forest Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.24	48.42	44.50	48.58	56.34	60.02	55.00	54.45	51.43	55.28	53.32	68.50	65.19
	46.57	45.35	41.17	44.44	52.01	56.15	51.12	50.77	47.48	51.35	49.14	65.34	61.36
Operating Profit	3.67	3.07	3.33	4.14	4.33	3.87	3.88	3.68	3.95	3.93	4.18	3.16	3.83
OPM %	7.30%	6.34%	7.48%	8.52%	7.69%	6.45%	7.05%	6.76%	7.68%	7.11%	7.84%	4.61%	5.88%
	0.18	0.22	0.18	0.10	0.07	0.06	0.07	0.35	0.06	0.05	0.06	0.48	0.04
Interest	2.05	2.12	2.03	2.22	2.31	1.90	1.84	1.86	1.91	1.70	1.51	1.44	1.28
Depreciation	0.77	0.77	0.77	0.89	0.80	0.80	0.95	0.78	1.06	1.06	1.06	0.67	0.95
Profit before tax	1.03	0.40	0.71	1.13	1.29	1.23	1.16	1.39	1.04	1.22	1.67	1.53	1.64
Tax %	23.30%	20.00%	23.94%	15.04%	18.60%	8.13%	27.59%	51.80%	24.04%	21.31%	26.35%	61.44%	32.32%
	0.78	0.32	0.53	0.96	1.05	1.13	0.84	0.66	0.78	0.95	1.22	0.60	1.11
EPS in Rs	0.12	0.05	0.08	0.15	0.16	0.18	0.13	0.10	0.12	0.15	0.19	0.09	0.17
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	101	119	180	216	200	195	157	178	182	192	226	229	242
	94	111	157	184	168	174	147	169	172	177	210	213	227
Operating Profit	7	8	23	32	33	21	11	9	10	14	16	15	15
OPM %	7%	7%	13%	15%	16%	11%	7%	5%	6%	7%	7%	7%	6%
	0	0	0	3	1	0	0	0	1	1	1	1	1
Interest	2	2	3	6	5	7	7	7	7	8	8	7	6
Depreciation	2	1	2	3	3	4	4	4	3	3	3	4	4
Profit before tax	4	5	18	27	26	10	1	-1	2	3	5	5	6
Tax %	33%	24%	37%	35%	30%	28%	35%	-12%	24%	21%	27%	35%
	3	4	11	17	18	8	0	-1	1	3	4	4	4
EPS in Rs	1.95	2.32	1.79	2.71	2.79	1.19	0.05	-0.16	0.22	0.40	0.58	0.55	0.60
Dividend Payout %	7%	5%	3%	5%	7%	0%	194%	-31%	23%	25%	26%	36%

Compounded Sales Growth
10 Years:	7%
5 Years:	8%
3 Years:	8%
TTM:	10%

Compounded Profit Growth
10 Years:	0%
5 Years:	60%
3 Years:	36%
TTM:	14%

Stock Price CAGR
10 Years:	%
5 Years:	-1%
3 Years:	1%
1 Year:	-22%

Return on Equity
10 Years:	2%
5 Years:	1%
3 Years:	1%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1	2	6	6	13	13	13	13	13	13	13	13
Reserves	18	22	309	326	337	342	342	340	341	343	346	349
	17	18	46	41	57	72	70	77	79	78	80	68
	21	18	120	119	95	101	105	108	98	100	102	97
Total Liabilities	57	60	482	492	501	528	529	538	532	534	541	527
	10	13	374	379	382	386	390	387	385	382	385	386
CWIP	0	0	1	2	2	10	0	0	0	0	0	0
Investments	0	0	3	8	9	9	9	9	9	9	9	9
	47	46	104	104	108	122	129	141	137	142	147	131
Total Assets	57	60	482	492	501	528	529	538	532	534	541	527

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	4	-14	28	-5	-5	16	2	11	9	12	23
	-3	-4	-12	-13	-8	-6	-2	-3	-2	-1	-3	-4
	2	-0	25	-11	10	6	-13	-0	-5	-10	-8	-20
Net Cash Flow	-1	-0	-1	5	-2	-5	1	-1	4	-2	1	-1
Free Cash Flow	-3	-0	-23	20	-11	-10	14	-1	9	8	9	18
CFO/OP	28%	64%	-52%	113%	18%	5%	146%	33%	111%	70%	87%	159%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	49	54	82	62	68	95	99	104	88	95	78	74
Inventory Days	154	98	163	146	157	159	234	197	200	212	177	123
Days Payable	105	70	118	94	27	43	70	62	48	44	42	37
Cash Conversion Cycle	98	81	127	114	198	212	263	239	241	262	214	160
Working Capital Days	29	33	37	30	49	55	84	84	73	78	64	68
ROCE %	18%	18%	11%	8%	8%	4%	2%	1%	2%	3%	3%	3%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Katha Installed Capacity
MTPA

x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx		x,xxx	x,xxx
x,xxx	x,xxx		x,xxx	x,xxx	x,xxx	x,xxx	x,xxx		x,xxx	x,xxx
			x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
			x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
				x	x		x	x	x	x
						xxx.xx	x,xxx.xx	xxx.xx	x,xxx.xx	xxx.xx
		xxx	xx						xxx	xxx
							xxx,xxx		xxx,xxx	xxx,xxx

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Cutch Installed Capacity
MTPA

Katha Sales Volume
MT

Katha Production Volume
MT

Number of Manufacturing Units
count

Cutch Sales Volume
MT

Operating Cycle
days

Average Realization for Katha
Rs per MT

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

8 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.26%	71.25%
	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%
	28.57%	28.55%	28.56%	28.57%	28.56%	28.57%	28.57%	28.56%	28.56%	28.56%	28.43%	28.43%
No. of Shareholders	6,391	6,950	11,441	12,216	13,410	13,379	13,179	13,459	14,763	14,474	14,284	13,955

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	70.16%	70.16%	71.08%	71.12%	71.12%	71.12%	71.12%	71.12%	71.26%	71.25%
	0.63%	0.63%	0.63%	0.32%	0.32%	0.32%	0.31%	0.31%	0.31%	0.31%
	29.22%	29.22%	28.29%	28.56%	28.56%	28.55%	28.56%	28.57%	28.43%	28.43%
No. of Shareholders	2,039	2,720	2,875	3,705	4,830	5,418	11,441	13,179	14,284	13,955

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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The Indian Wood Products Company Ltd

The Indian Wood Products Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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