West Coast Paper Mills Ltd

₹ 546 -1.86%

21 Nov - close price

westcoastpaper.com BSE: 500444 NSE: WSTCSTPAPR

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
a) Paper and Paperboard Division (93% of FY23 revenue)
The company produces papers under the WESCO brand Paper & boards, along with a range of office stationery, premium printing products, and other value-added products. ^[1]^[2]
The production of Paper and Paperboard was 314919 MT (98% capacity utilization)^[3]

Website BSE NSE

Market Cap ₹ 3,607 Cr.
Current Price ₹ 546
High / Low ₹ 815 / 470
Stock P/E 10.4
Book Value ₹ 398
Dividend Yield 1.46 %
ROCE 26.5 %
ROE 21.1 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.

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

Part of BSE Allcap BSE Commodities Nifty Total Market BSE SmallCap Nifty Microcap 250

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Detailed Comparison with:

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
	550	522	645	660	723	660	767	651	706	565	701	642	609
	446	425	496	464	502	438	504	414	529	458	567	501	519
Operating Profit	104	96	149	196	221	223	263	238	178	107	133	141	90
OPM %	19%	18%	23%	30%	31%	34%	34%	36%	25%	19%	19%	22%	15%
	17	4	6	3	26	8	9	14	50	18	15	17	53
Interest	10	10	15	5	5	12	7	5	4	5	5	5	4
Depreciation	35	35	35	29	30	30	30	26	27	27	30	26	27
Profit before tax	76	55	105	165	212	188	235	221	197	93	114	127	111
Tax %	5%	8%	22%	25%	26%	24%	29%	27%	21%	16%	28%	27%	17%
	72	51	82	123	156	142	166	160	156	78	82	93	92
EPS in Rs	10.94	7.74	12.46	18.68	23.59	21.49	25.14	24.30	23.56	11.75	12.48	14.10	13.93
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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
	1,455	1,562	1,648	1,700	1,769	1,710	1,979	1,982	1,368	1,985	2,810	2,623	2,516
	1,186	1,353	1,403	1,450	1,431	1,348	1,470	1,501	1,170	1,579	1,907	1,966	2,045
Operating Profit	269	209	246	250	338	362	509	482	198	406	904	657	471
OPM %	18%	13%	15%	15%	19%	21%	26%	24%	14%	20%	32%	25%	19%
	-35	5	-49	-46	2	18	21	47	3	30	45	95	103
Interest	73	73	70	76	52	42	29	72	65	53	29	19	19
Depreciation	136	127	122	114	111	116	175	166	153	138	119	109	111
Profit before tax	25	14	5	14	178	223	325	290	-18	244	799	624	445
Tax %	26%	52%	77%	103%	28%	-0%	9%	5%	-112%	11%	27%	24%
	18	7	1	-0	128	223	296	276	2	218	587	476	345
EPS in Rs	2.74	1.00	0.17	-0.07	19.46	33.80	44.82	41.85	0.31	33.02	88.89	72.10	52.26
Dividend Payout %	36%	100%	0%	-1,405%	13%	12%	11%	12%	322%	18%	11%	11%

Compounded Sales Growth
10 Years:	5%
5 Years:	6%
3 Years:	24%
TTM:	-10%

Compounded Profit Growth
10 Years:	52%
5 Years:	10%
3 Years:	295%
TTM:	-45%

Stock Price CAGR
10 Years:	24%
5 Years:	21%
3 Years:	28%
1 Year:	-21%

Return on Equity
10 Years:	20%
5 Years:	20%
3 Years:	24%
Last Year:	21%

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	13	13	13	13	13	13	13	13	13	13	13	13	13
Reserves	585	583	585	503	626	826	1,090	1,282	1,282	1,492	2,035	2,464	2,616
	1,081	1,066	910	744	444	315	357	740	629	415	174	161	157
	279	432	417	470	448	436	455	363	370	413	455	535	611
Total Liabilities	1,958	2,094	1,925	1,731	1,531	1,590	1,915	2,398	2,295	2,332	2,677	3,173	3,397
	1,318	1,243	1,147	1,086	1,001	1,035	985	906	835	754	671	674	664
CWIP	3	5	2	3	6	3	37	55	25	14	25	96	122
Investments	47	47	47	1	1	1	223	912	912	1,001	1,335	1,629	1,900
	591	800	730	641	523	551	671	525	523	563	645	774	711
Total Assets	1,958	2,094	1,925	1,731	1,531	1,590	1,915	2,398	2,295	2,332	2,677	3,173	3,397

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
	263	150	257	98	434	326	395	544	239	382	695	454
	-32	-51	-22	34	-39	-139	-384	-771	-59	-88	-371	-356
	-239	-96	-230	-132	-394	-194	-16	225	-177	-299	-311	-100
Net Cash Flow	-8	3	4	-1	1	-7	-5	-1	4	-4	13	-2

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	21	24	28	25	26	25	30	19	34	25	24	27
Inventory Days	136	193	179	136	101	137	158	119	122	88	95	128
Days Payable	48	102	92	72	53	81	67	29	35	39	32	29
Cash Conversion Cycle	108	114	114	89	75	82	122	108	120	74	87	127
Working Capital Days	40	34	28	28	18	33	49	19	56	36	33	51
ROCE %	8%	5%	8%	10%	20%	23%	27%	21%	3%	15%	40%	27%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	56.47%	56.48%	56.48%	56.51%	56.52%	56.53%	56.53%	56.53%	56.53%	56.53%	56.53%	56.53%
	2.23%	2.23%	2.35%	3.67%	5.62%	7.04%	7.38%	7.80%	7.98%	8.19%	7.40%	6.17%
	8.44%	8.80%	8.76%	7.46%	7.60%	7.57%	7.18%	6.77%	6.62%	7.13%	7.19%	8.19%
	32.86%	32.48%	32.41%	32.34%	30.26%	28.87%	28.92%	28.90%	28.88%	28.15%	28.87%	29.12%
No. of Shareholders	30,058	31,426	34,319	40,550	42,761	42,603	52,029	57,706	57,193	60,840	53,673	55,848

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	55.80%	56.04%	56.72%	56.14%	56.29%	56.48%	56.53%	56.53%	56.53%
	3.40%	6.44%	4.91%	3.26%	2.19%	2.23%	7.04%	8.19%	6.17%
	12.26%	10.88%	11.38%	12.89%	8.99%	8.80%	7.57%	7.13%	8.19%
	28.54%	26.64%	27.00%	27.71%	32.53%	32.48%	28.87%	28.15%	29.12%
No. of Shareholders	16,363	21,033	24,816	28,886	33,489	31,426	42,603	60,840	55,848

* 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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