West Coast Paper Mills Ltd
West Coast Paper Mills Ltd is one of the oldest and the largest producers of paper for printing, writing, and packaging in India. Established in 1955, the Mill is located at Dandeli in Uttara Kannada district in Karnataka. The global quality paper produced by the Company serves the needs of innumerable industries in printing, writing, publishing, stationary, notebooks and packaging sectors in India, in the process contributing to the development of the nation. [1]
- Market Cap ₹ 3,246 Cr.
- Current Price ₹ 491
- High / Low ₹ 639 / 382
- Stock P/E 12.9
- Book Value ₹ 529
- Dividend Yield 1.02 %
- ROCE 11.5 %
- ROE 9.49 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.93 times its book value
Cons
- The company has delivered a poor sales growth of 10.3% over past five years.
- Earnings include an other income of Rs.213 Cr.
* 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 Paper & Paper Products
Part of BSE SmallCap BSE Allcap BSE Commodities
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 1,710 | 1,979 | 2,493 | 2,245 | 3,378 | 4,921 | 4,448 | 4,062 | 4,057 | |
| 1,348 | 1,468 | 1,875 | 1,983 | 2,740 | 3,274 | 3,353 | 3,569 | 3,641 | |
| Operating Profit | 362 | 511 | 618 | 261 | 638 | 1,647 | 1,095 | 493 | 416 |
| OPM % | 21% | 26% | 25% | 12% | 19% | 33% | 25% | 12% | 10% |
| 18 | 20 | 52 | 12 | 54 | 58 | 167 | 198 | 213 | |
| Interest | 42 | 29 | 75 | 70 | 59 | 37 | 24 | 38 | 42 |
| Depreciation | 116 | 176 | 198 | 229 | 213 | 189 | 185 | 210 | 220 |
| Profit before tax | 222 | 326 | 397 | -26 | 420 | 1,478 | 1,053 | 444 | 366 |
| Tax % | -0% | 9% | -2% | -83% | 18% | 26% | 25% | 24% | |
| 223 | 296 | 406 | -4 | 346 | 1,087 | 786 | 336 | 274 | |
| EPS in Rs | 33.79 | 44.82 | 56.08 | -0.47 | 46.49 | 142.62 | 104.77 | 47.11 | 38.10 |
| Dividend Payout % | 12% | 11% | 9% | -213% | 13% | 7% | 8% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 6% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -3% |
| 3 Years: | 1% |
| TTM: | -55% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 23% |
| 3 Years: | -5% |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 23% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 826 | 1,090 | 1,375 | 1,376 | 1,673 | 2,568 | 3,228 | 3,478 |
| 315 | 361 | 753 | 676 | 478 | 231 | 276 | 456 | |
| 436 | 455 | 1,043 | 1,004 | 1,094 | 1,361 | 1,600 | 1,565 | |
| Total Liabilities | 1,590 | 1,920 | 3,184 | 3,069 | 3,259 | 4,173 | 5,118 | 5,512 |
| 1,035 | 991 | 2,010 | 1,873 | 1,757 | 1,659 | 1,882 | 2,126 | |
| CWIP | 3 | 37 | 57 | 34 | 22 | 55 | 210 | 172 |
| Investments | 1 | 223 | 45 | 220 | 472 | 1,310 | 1,730 | 1,604 |
| 551 | 669 | 1,072 | 942 | 1,008 | 1,149 | 1,296 | 1,610 | |
| Total Assets | 1,590 | 1,920 | 3,184 | 3,069 | 3,259 | 4,173 | 5,118 | 5,512 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 326 | 394 | 649 | 338 | 591 | 1,238 | 764 | 99 | |
| -139 | -382 | -858 | -166 | -291 | -894 | -714 | -172 | |
| -194 | -12 | 218 | -167 | -295 | -334 | -61 | 72 | |
| Net Cash Flow | -6 | -1 | 9 | 5 | 5 | 10 | -11 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 30 | 21 | 33 | 26 | 25 | 21 | 31 |
| Inventory Days | 137 | 159 | 167 | 128 | 85 | 88 | 117 | 130 |
| Days Payable | 81 | 67 | 63 | 64 | 59 | 54 | 56 | 50 |
| Cash Conversion Cycle | 82 | 123 | 124 | 98 | 52 | 58 | 81 | 112 |
| Working Capital Days | 24 | 18 | 18 | 7 | 11 | 13 | 24 | 50 |
| ROCE % | 27% | 24% | 2% | 20% | 53% | 29% | 11% |
Documents
Announcements
-
Annual General Meeting-Update
28 Aug - 70th AGM (28 Aug 2025): FY2024-25 financials adopted, dividend declared, director reappointed; six resolutions passed.
- Shareholder Meeting / Postal Ballot-Outcome of AGM 28 Aug
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 28 Aug
-
Shareholder Meeting-Update
28 Aug - 70th AGM on 28 Aug 2025: FY2024-25 standalone/consolidated financials adopted, dividend declared, director reappointed, cost and secretarial auditors appointed.
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 28 Aug
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from nse
Business Segments
a) Paper Division (93% in H1 FY25 vs 96% in FY22) [1] [2] The company produces premium papers, writing papers, boards, office stationery, etc under the Wesco brand. The segment revenue grew 30% between FY22 and FY24, driven by a 30% rise in price realizations, while volume remained flat. [3] [4]