West Coast Paper Mills Ltd

₹ 347 2.84%
01 Jul - 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

Paper and Paperboard Division (95% of revenues) [1]
The company produces WESCO brand Paper & boards, commercial to premium grades ranging from 52 to 600 GSM. Its product segment includes writing paper, printing paper, specialty paper, Industrial paper, packaging board and business stationary. [2] It produced ~310,000 MT of paper in FY20 with a capacity utilization rate of ~98%. [3]

  • Market Cap 2,293 Cr.
  • Current Price 347
  • High / Low 395 / 215
  • Stock P/E 7.47
  • Book Value 255
  • Dividend Yield 0.29 %
  • ROCE 22.7 %
  • ROE 20.0 %
  • 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

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
535 510 707 743 302 429 576 937 538 900 872 1,067
376 381 554 567 291 409 517 774 438 758 712 836
Operating Profit 159 129 153 176 11 20 59 163 100 142 160 231
OPM % 30% 25% 22% 24% 4% 5% 10% 17% 19% 16% 18% 22%
14 14 14 11 2 6 5 8 14 11 11 22
Interest 10 12 26 27 20 18 21 10 18 11 12 17
Depreciation 40 42 54 62 55 56 57 61 52 54 54 53
Profit before tax 124 88 87 98 -63 -48 -14 99 44 88 106 183
Tax % 16% 8% 13% -49% 25% 17% 66% 12% 10% 12% 16% 23%
Net Profit 104 82 65 120 -40 -36 -3 75 32 72 78 125
EPS in Rs 15.67 12.37 9.88 18.16 -6.00 -5.38 -0.44 11.34 4.84 10.97 11.82 18.86

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1,710 1,979 2,493 2,245 3,378
1,348 1,468 1,875 1,983 2,744
Operating Profit 362 511 618 261 633
OPM % 21% 26% 25% 12% 19%
18 20 52 12 58
Interest 42 29 75 70 59
Depreciation 116 176 198 229 213
Profit before tax 222 326 397 -26 420
Tax % -0% 9% -2% 83% 18%
Net Profit 223 296 370 -3 307
EPS in Rs 33.79 44.82 56.08 -0.47 46.49
Dividend Payout % 12% 11% 9% -213% 13%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 20%
TTM: 50%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 1%
TTM: 9270%
Stock Price CAGR
10 Years: 21%
5 Years: 12%
3 Years: 12%
1 Year: 32%
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
13 13 13 13 13
Reserves 826 1,090 1,375 1,376 1,673
315 361 753 662 478
436 455 1,043 1,018 1,178
Total Liabilities 1,590 1,920 3,184 3,069 3,343
1,035 991 2,010 1,867 1,757
CWIP 3 37 57 34 22
Investments 1 223 45 220 472
551 669 1,072 949 1,092
Total Assets 1,590 1,920 3,184 3,069 3,343

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 24 71
ROCE % 27% 26% 3% 23%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
56.72 55.96 56.03 56.14 56.17 56.17 56.20 56.29 56.35 56.45 56.47 56.48
3.99 3.07 3.42 3.26 3.15 3.00 2.67 2.19 1.97 1.95 2.23 2.23
10.68 11.70 12.53 12.89 12.08 10.96 10.00 8.99 8.39 8.48 8.44 8.80
28.61 29.27 28.02 27.71 28.60 29.87 31.13 32.53 33.28 33.11 32.86 32.48

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