West Coast Paper Mills Ltd

₹ 588 -0.94%
02 Dec - close price
About

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]

Key Points

Business Segments & Revenue Mix FY22
Paper and Paperboard Division (96% of revenues)
The company produces the finest papers under the WESCO brand Paper & boards, along with a range of office stationery, premium printing products, and other value-added products under this brand. [1] [2]
The production of Paper and Paperboard was 296785 MT (93 % capacity utilization). [3]

  • Market Cap 3,882 Cr.
  • Current Price 588
  • High / Low 664 / 215
  • Stock P/E 6.44
  • Book Value 309
  • Dividend Yield 1.02 %
  • ROCE 22.9 %
  • ROE 20.2 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

* 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

Sector: Paper Industry: Paper

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
510 707 743 302 429 576 937 538 900 872 1,067 1,114 1,210
381 554 567 291 409 517 774 438 758 712 836 793 843
Operating Profit 129 153 176 11 20 59 163 100 142 160 231 321 367
OPM % 25% 22% 24% 4% 5% 10% 17% 19% 16% 18% 22% 29% 30%
14 14 11 2 6 5 8 14 11 11 22 11 17
Interest 12 26 27 20 18 21 10 18 11 12 17 6 7
Depreciation 42 54 62 55 56 57 61 52 54 54 53 46 47
Profit before tax 88 87 98 -63 -48 -14 99 44 88 106 183 280 331
Tax % 8% 13% -49% 25% 17% 66% 12% 10% 12% 16% 23% 25% 26%
Net Profit 82 75 146 -47 -40 -5 87 39 78 88 141 209 246
EPS in Rs 12.37 9.88 18.16 -6.00 -5.38 -0.44 11.34 4.84 10.97 11.82 18.86 28.06 32.50
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,710 1,979 2,493 2,245 3,378 4,264
1,348 1,468 1,875 1,983 2,740 3,184
Operating Profit 362 511 618 261 638 1,080
OPM % 21% 26% 25% 12% 19% 25%
18 20 52 12 54 61
Interest 42 29 75 70 59 42
Depreciation 116 176 198 229 213 200
Profit before tax 222 326 397 -26 420 899
Tax % -0% 9% -2% 83% 18%
Net Profit 223 296 406 -4 346 684
EPS in Rs 33.79 44.82 56.08 -0.47 46.49 91.24
Dividend Payout % 12% 11% 9% -213% 13%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 20%
TTM: 44%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 2%
TTM: 242%
Stock Price CAGR
10 Years: 17%
5 Years: 20%
3 Years: 42%
1 Year: 135%
Return on Equity
10 Years: %
5 Years: %
3 Years: 16%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
13 13 13 13 13 13
Reserves 826 1,090 1,375 1,373 1,670 2,025
315 361 753 676 478 322
436 455 1,043 1,007 1,097 1,278
Total Liabilities 1,590 1,920 3,184 3,069 3,259 3,639
1,035 991 2,010 1,873 1,757 1,712
CWIP 3 37 57 34 22 37
Investments 1 223 45 220 472 818
551 669 1,072 942 1,008 1,072
Total Assets 1,590 1,920 3,184 3,069 3,259 3,639

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
326 394 649 338 591
-139 -382 -858 -166 -289
-194 -12 218 -167 -295
Net Cash Flow -6 -1 9 5 7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 25 30 21 33 26
Inventory Days 137 159 167 128 85
Days Payable 81 67 63 64 59
Cash Conversion Cycle 82 123 124 98 52
Working Capital Days 33 47 30 49 35
ROCE % 27% 26% 3% 23%

Shareholding Pattern

Numbers in percentages

1 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
56.03 56.14 56.17 56.17 56.20 56.29 56.35 56.45 56.47 56.48 56.48 56.51
3.42 3.26 3.15 3.00 2.67 2.19 1.97 1.95 2.23 2.23 2.35 3.67
12.53 12.89 12.08 10.96 10.00 8.99 8.39 8.48 8.44 8.80 8.76 7.46
28.02 27.71 28.60 29.87 31.13 32.53 33.28 33.11 32.86 32.48 32.41 32.34

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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