The Indian Wood Products Company Ltd

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The Indian Wood Products Company Ltd

₹ 36.5 -2.83%
01 Oct - close price
iwpkatha.com BSE: 540954 NSE: IWP
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 39.5
  • Book Value ₹ 56.8
  • Dividend Yield 0.55 %
  • ROCE 3.00 %
  • ROE 1.26 %
  • Face Value ₹ 2.00
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Pros

  • Stock is trading at 0.64 times its book value
  • Company has been maintaining a healthy dividend payout of 21.2%

Cons

  • The company has delivered a poor sales growth of 7.74% over past five years.
  • Company has a low return on equity of 1.25% 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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 44.45 52.01 56.15 51.12 50.77 47.48 51.35 49.36 65.81 61.36
Operating Profit 3.67 3.07 3.33 4.13 4.33 3.87 3.88 3.68 3.95 3.93 3.96 2.69 3.83
OPM % 7.30% 6.34% 7.48% 8.50% 7.69% 6.45% 7.05% 6.76% 7.68% 7.11% 7.43% 3.93% 5.88%
0.40 0.54 0.26 0.55 0.28 0.89 0.46 0.53 0.43 1.38 0.06 0.48 1.44
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 1.25 0.72 0.79 1.57 1.50 2.06 1.55 1.57 1.41 2.55 1.45 1.06 3.04
Tax % 19.20% 11.11% 21.52% 10.83% 16.00% 4.85% 20.65% 45.86% 17.73% 10.20% 30.34% 88.68% 17.43%
1.00 0.64 0.62 1.40 1.26 1.96 1.23 0.85 1.15 2.28 1.00 0.12 2.51
EPS in Rs 0.16 0.10 0.10 0.22 0.20 0.31 0.19 0.13 0.18 0.36 0.16 0.02 0.39
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
119 180 216 200 195 157 178 182 192 226 229 242
111 156 185 169 175 147 169 172 177 210 213 228
Operating Profit 8 23 31 32 20 11 9 10 14 16 15 14
OPM % 7% 13% 14% 16% 10% 7% 5% 6% 7% 7% 7% 6%
0 0 3 1 0 2 1 2 2 2 2 3
Interest 2 3 6 5 7 7 7 7 8 8 7 6
Depreciation 1 2 3 3 4 4 4 3 3 3 4 4
Profit before tax 5 18 25 25 10 2 -1 2 4 7 6 8
Tax % 24% 37% 37% 32% 29% 8% -19% 19% 15% 21% 30%
4 11 16 17 7 2 -1 2 4 5 5 6
EPS in Rs 2.30 1.79 2.48 2.65 1.08 0.33 -0.09 0.29 0.57 0.83 0.71 0.93
Dividend Payout % 5% 3% 5% 8% 0% 31% -55% 17% 17% 18% 28%
Compounded Sales Growth
10 Years: 7%
5 Years: 8%
3 Years: 8%
TTM: 10%
Compounded Profit Growth
10 Years: 2%
5 Years: 17%
3 Years: 34%
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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 2 6 6 13 13 13 13 13 13 13 13
Reserves 22 309 325 333 338 339 338 340 342 347 350
18 46 41 57 72 70 77 79 78 80 68
18 120 119 95 101 105 108 98 100 102 97
Total Liabilities 60 482 490 497 523 527 536 530 533 541 528
13 374 379 382 386 390 387 385 382 385 386
CWIP 0 1 2 2 10 0 0 0 0 0 0
Investments 0 3 6 5 5 7 7 8 9 10 11
46 104 104 108 122 129 141 137 142 147 131
Total Assets 60 482 490 497 523 527 536 530 533 541 528

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
4 -14 27 -6 -6 18 3 12 10 14 24
-4 -12 -11 -7 -5 -4 -3 -3 -2 -5 -5
-0 25 -11 10 6 -13 -0 -5 -10 -8 -20
Net Cash Flow -0 -1 5 -2 -5 1 -1 4 -2 1 -1
Free Cash Flow -0 -23 18 -12 -11 16 -0 9 9 11 19
CFO/OP 64% -51% 114% 15% 2% 162% 38% 116% 78% 98% 166%

Ratios

Consolidated / View Standalone

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

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Cutch Installed Capacity
MTPA ・Standalone data
Katha Sales Volume
MT ・Standalone data
Katha Production Volume
MT ・Standalone data
Number of Manufacturing Units
count ・Standalone data
Cutch Sales Volume
MT ・Standalone data
Operating Cycle
days ・Standalone data
Average Realization for Katha
Rs per MT ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

8 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 6,3916,95011,44112,21613,41013,37913,17913,45914,76314,47414,28413,955

* 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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