Western India Plywoods Ltd

W I Plywoods Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Western India Plywoods Ltd

₹ 183 -3.90%
21 Nov - close price
Company website NSE: WIPL
About

Incorporated in 1945, Western India Plywoods Ltd is a manufacturer of Wood based products including Hardboard, Plywood, and Compreg[1]

Key Points

Business Overview[1][2]
WIPL manufactures Saw Timber and Plywood related panel products viz. Block boards, Flush door, Shuttering and Marine Plywood, Aircraft Plywood, Densified Wood, etc. It has an integrated wood complex, and their integrated nature of operations enables them to use the same raw material, viz. firewood, timber logs and veneer to manufacture different end products based on market and customer requirement

Website NSE
  • Market Cap ₹ 155 Cr.
  • Current Price ₹ 183
  • High / Low ₹ 249 / 145
  • Stock P/E 43.9
  • Book Value ₹ 60.8
  • Dividend Yield 0.66 %
  • ROCE 10.0 %
  • ROE 7.66 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 3.00 times its book value
  • The company has delivered a poor sales growth of 1.91% over past five years.
  • Company has a low return on equity of 6.60% over last 3 years.

* 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: Plywood Boards/Laminates Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
26.21 26.36 26.93 24.86 28.10 28.89 24.82 23.38 27.76 31.31 25.24 24.79 30.56
24.63 24.42 25.43 23.24 26.25 26.17 23.30 22.16 25.71 27.89 24.45 23.91 28.57
Operating Profit 1.58 1.94 1.50 1.62 1.85 2.72 1.52 1.22 2.05 3.42 0.79 0.88 1.99
OPM % 6.03% 7.36% 5.57% 6.52% 6.58% 9.42% 6.12% 5.22% 7.38% 10.92% 3.13% 3.55% 6.51%
0.06 0.09 0.10 0.23 0.26 0.14 0.06 0.11 0.23 0.05 0.15 0.14 0.14
Interest 0.32 0.30 0.34 0.31 0.34 0.44 0.31 0.26 0.34 0.31 0.27 0.26 0.19
Depreciation 0.61 0.40 0.50 0.31 0.32 0.33 0.33 0.33 0.36 0.37 0.41 0.40 0.39
Profit before tax 0.71 1.33 0.76 1.23 1.45 2.09 0.94 0.74 1.58 2.79 0.26 0.36 1.55
Tax % 23.94% 27.82% 28.95% 28.46% 27.59% 28.23% 25.53% 28.38% 27.85% 29.39% 30.77% 30.56% 27.10%
0.54 0.96 0.54 0.88 1.05 1.50 0.70 0.53 1.14 1.97 0.18 0.25 1.13
EPS in Rs 0.64 1.13 0.64 1.04 1.24 1.77 0.82 0.62 1.34 2.32 0.21 0.29 1.33
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
87 92 92 85 81 88 98 92 83 99 107 108 112
76 83 82 77 77 85 90 86 78 93 99 100 105
Operating Profit 10 10 10 8 4 3 8 6 5 5 8 8 7
OPM % 12% 10% 11% 9% 5% 3% 8% 7% 6% 5% 7% 7% 6%
1 0 0 0 3 4 1 1 0 0 1 1 0
Interest 4 4 4 3 4 4 3 2 2 1 1 1 1
Depreciation 5 5 2 2 2 2 2 2 2 2 1 1 2
Profit before tax 2 1 5 3 2 1 3 2 1 2 6 5 5
Tax % 38% -44% 33% 34% 36% -82% 28% 27% 22% 28% 28% 29%
1 2 3 2 1 2 2 2 1 1 4 4 4
EPS in Rs 1.73 2.14 3.88 2.13 1.60 2.17 2.53 1.98 1.18 1.67 4.87 4.50 4.15
Dividend Payout % 35% 28% 18% 33% 0% 0% 36% 0% 68% 48% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 2%
3 Years: 9%
TTM: 7%
Compounded Profit Growth
10 Years: 8%
5 Years: 12%
3 Years: 57%
TTM: -9%
Stock Price CAGR
10 Years: %
5 Years: 25%
3 Years: 52%
1 Year: 18%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: 7%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 8 8 8 8 8 8 8 8 8 8 8 8 8
Reserves 26 27 29 30 32 33 36 36 37 37 40 43 43
41 39 36 33 32 30 27 22 17 18 17 16 13
21 16 16 17 19 14 13 12 11 10 11 12 16
Total Liabilities 96 90 91 89 92 87 84 78 73 72 77 79 80
22 19 17 15 17 17 16 15 16 15 15 18 18
CWIP 0 0 0 3 1 1 0 0 0 1 3 0 0
Investments 5 8 9 11 11 11 11 11 12 12 12 12 12
70 63 65 60 62 58 56 51 46 45 47 48 49
Total Assets 96 90 91 89 92 87 84 78 73 72 77 79 80

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6 4 7 13 6 4 7 7 10 2 16 3
-6 -1 -1 -5 -1 2 -0 -0 -2 -1 -4 -3
1 -8 -6 -8 -4 -5 -7 -8 -7 -1 -2 -4
Net Cash Flow 1 -5 0 1 0 0 -1 -1 1 0 10 -4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 63 56 69 59 61 59 62 68 76 75 50 66
Inventory Days 358 336 358 363 401 296 245 252 202 148 121 111
Days Payable 67 50 60 78 77 56 47 52 53 34 32 36
Cash Conversion Cycle 354 342 366 344 386 299 260 267 225 190 138 141
Working Capital Days 144 160 165 153 170 150 135 136 136 120 78 88
ROCE % 9% 7% 12% 9% 4% 5% 8% 7% 5% 5% 11% 10%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
41.01% 40.96% 40.96% 40.96% 40.98% 40.98% 41.01% 41.01% 41.00% 40.79% 40.79% 40.79%
6.12% 6.12% 6.12% 5.13% 4.49% 4.22% 3.51% 3.50% 3.08% 3.08% 3.08% 2.67%
52.87% 52.91% 52.92% 53.91% 54.53% 54.80% 55.49% 55.49% 55.92% 56.13% 56.13% 56.55%
No. of Shareholders 1,7851,8211,8291,8962,1262,0902,0361,9271,9392,0102,2522,524

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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