West Coast Paper Mills Ltd

West Coast Paper Mills is engaged in Paper & Paper Board at Dandeli and Optical Fibre Cable at Mysore. The Companys Dandeli Plant is integrated Pulp & Paper Plant and produce various type of quality Paper & Paper Board. This caters to needs of innumerabl

Pros:
Company has good consistent profit growth of 109.69% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 28.12%
Cons:
The company has delivered a poor growth of 4.85% over past five years.
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Paper // Industry: Paper

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
409 446 439 475 387 422 409 494 460 505 435 581
337 366 352 378 304 338 336 369 341 370 326 434
Operating Profit 73 80 87 97 83 83 73 124 119 135 109 147
OPM % 18% 18% 20% 20% 21% 20% 18% 25% 26% 27% 25% 25%
Other Income 1 0 0 2 3 1 9 5 9 2 3 5
Interest 19 13 12 6 8 12 5 18 10 10 2 6
Depreciation 27 27 27 29 26 28 29 33 39 42 45 49
Profit before tax 27 39 48 63 52 44 48 79 78 85 65 97
Tax % 45% 35% 22% 20% -4% -7% 10% -0% -7% -4% -4% 42%
Net Profit 15 25 37 51 54 48 43 79 84 88 68 56
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
584 620 624 1,071 1,305 1,455 1,562 1,648 1,700 1,769 1,710 1,980
482 500 513 832 1,079 1,186 1,353 1,403 1,450 1,431 1,348 1,470
Operating Profit 102 120 111 239 226 269 209 245 250 338 362 509
OPM % 17% 19% 18% 22% 17% 18% 13% 15% 15% 19% 21% 26%
Other Income 18 8 6 6 -58 -35 5 -48 -46 2 18 20
Interest 6 8 12 56 72 73 73 70 76 52 42 29
Depreciation 20 20 24 96 143 136 127 122 114 111 116 175
Profit before tax 94 100 81 93 -47 25 14 5 14 178 223 325
Tax % 13% 10% 33% 3% 28% 26% 52% 77% 103% 28% -0% 9%
Net Profit 82 91 55 90 -34 18 7 1 -0 128 223 296
EPS in Rs 13.76 14.63 7.35 13.02 0.00 2.57 0.83 0.17 0.00 19.46 33.80 44.82
Dividend Payout % 21% 13% 23% 14% -4% 36% 100% 0% -1,405% 13% 12% 11%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.31%
5 Years:4.85%
3 Years:5.20%
TTM:15.75%
Compounded Profit Growth
10 Years:12.66%
5 Years:109.69%
3 Years:108.28%
TTM:32.90%
Return on Equity
10 Years:14.12%
5 Years:20.02%
3 Years:28.12%
Last Year:30.26%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
11 77 78 78 13 13 13 13 13 13 13 13
Reserves 388 479 524 593 557 585 583 585 503 626 826 1,090
Borrowings 406 1,174 1,235 1,212 1,264 1,081 1,066 910 744 444 315 357
184 324 343 337 374 354 502 485 546 549 577 594
Total Liabilities 989 1,989 2,114 2,155 2,207 2,033 2,164 1,993 1,807 1,632 1,731 2,054
221 207 806 1,528 1,457 1,318 1,243 1,147 1,086 1,001 1,035 985
CWIP 310 1,120 747 0 5 3 5 2 3 6 3 37
Investments 55 46 47 47 47 47 47 47 1 1 1 223
403 616 515 579 699 666 870 797 717 624 692 809
Total Assets 989 1,989 2,114 2,155 2,207 2,033 2,164 1,993 1,807 1,632 1,731 2,054

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
129 65 35 70 183 263 150 257 98 434 326 394
-327 -804 -249 -67 -138 -32 -51 -22 34 -39 -139 -383
324 837 46 -43 -107 -239 -96 -230 -132 -394 -194 -16
Net Cash Flow 126 98 -168 -41 -62 -8 3 4 -1 1 -7 -5

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 16% 8% 5% 8% 5% 8% 5% 8% 10% 20% 23% 27%
Debtor Days 27 26 20 25 20 21 24 28 25 26 25 30
Inventory Turnover 5.04 4.83 3.87 5.64 5.08 4.74 3.96 3.39 3.96 5.38 5.47 5.14