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 ₹ 3,156 Cr.
- Current Price ₹ 478
- High / Low ₹ 754 / 382
- Stock P/E 8.16
- Book Value ₹ 518
- Dividend Yield 1.67 %
- ROCE 29.2 %
- ROE 23.8 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 0.92 times its book value
- Company has delivered good profit growth of 18.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.7%
Cons
- Earnings include an other income of Rs.224 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.
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 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1,710 | 1,979 | 2,493 | 2,245 | 3,378 | 4,921 | 4,448 | 4,091 | |
| 1,348 | 1,468 | 1,875 | 1,983 | 2,740 | 3,274 | 3,353 | 3,521 | |
| Operating Profit | 362 | 511 | 618 | 261 | 638 | 1,647 | 1,095 | 570 |
| OPM % | 21% | 26% | 25% | 12% | 19% | 33% | 25% | 14% |
| 18 | 20 | 52 | 12 | 54 | 58 | 167 | 224 | |
| Interest | 42 | 29 | 75 | 70 | 59 | 37 | 24 | 31 |
| Depreciation | 116 | 176 | 198 | 229 | 213 | 189 | 185 | 202 |
| Profit before tax | 222 | 326 | 397 | -26 | 420 | 1,478 | 1,053 | 561 |
| Tax % | -0% | 9% | -2% | -83% | 18% | 26% | 25% | |
| 223 | 296 | 406 | -4 | 346 | 1,087 | 786 | 420 | |
| EPS in Rs | 33.79 | 44.82 | 56.08 | -0.47 | 46.49 | 142.62 | 104.77 | 58.59 |
| Dividend Payout % | 12% | 11% | 9% | -213% | 13% | 7% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 26% |
| TTM: | -14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 496% |
| TTM: | -55% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 30% |
| 3 Years: | 14% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 30% |
| Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 826 | 1,090 | 1,375 | 1,376 | 1,673 | 2,568 | 3,228 | 3,409 |
| 315 | 361 | 753 | 676 | 478 | 231 | 276 | 412 | |
| 436 | 455 | 1,043 | 1,004 | 1,094 | 1,361 | 1,600 | 1,679 | |
| Total Liabilities | 1,590 | 1,920 | 3,184 | 3,069 | 3,259 | 4,173 | 5,118 | 5,513 |
| 1,035 | 991 | 2,010 | 1,873 | 1,757 | 1,659 | 1,882 | 1,887 | |
| CWIP | 3 | 37 | 57 | 34 | 22 | 55 | 210 | 310 |
| Investments | 1 | 223 | 45 | 220 | 472 | 1,310 | 1,730 | 2,049 |
| 551 | 669 | 1,072 | 942 | 1,008 | 1,149 | 1,296 | 1,266 | |
| Total Assets | 1,590 | 1,920 | 3,184 | 3,069 | 3,259 | 4,173 | 5,118 | 5,513 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| 326 | 394 | 649 | 338 | 591 | 1,238 | 764 | |
| -139 | -382 | -858 | -166 | -291 | -894 | -714 | |
| -194 | -12 | 218 | -167 | -295 | -334 | -61 | |
| Net Cash Flow | -6 | -1 | 9 | 5 | 5 | 10 | -11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 30 | 21 | 33 | 26 | 25 | 21 |
| Inventory Days | 137 | 159 | 167 | 128 | 85 | 88 | 117 |
| Days Payable | 81 | 67 | 63 | 64 | 59 | 54 | 56 |
| Cash Conversion Cycle | 82 | 123 | 124 | 98 | 52 | 58 | 81 |
| Working Capital Days | 33 | 47 | 30 | 49 | 35 | 23 | 30 |
| ROCE % | 27% | 24% | 2% | 20% | 53% | 29% |
Documents
Announcements
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Board Meeting Intimation for Audited Financial Results
14 May - Board meeting on May 23, 2025, to approve FY25 audited results and consider dividend.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
12 May - West Coast Paper Mills submits annual secretarial compliance report confirming full SEBI regulation adherence.
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Announcement Under Regulation 30 Of SEBI (LODR)Regulations, 2015
30 Apr - West Coast launches new optical fiber plant in Telangana, enhancing capacity and supporting digital growth initiatives.
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
18 Apr - Company not classified as Large Corporate under SEBI.
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Postal Ballot
14 Apr - Minutes of Postal Ballot dated April 02, 2025.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Business Segments
a) Paper Division (94% 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]