West Coast Paper Mills
West Coast Paper Mills
CommoditiesKey Fundamentals
MicrocapPaper & Paper ProductsForest MaterialsTapetide Score
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Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
2- Company has a low return on equity of 11.8% over last 3 years.
- Dividend payout has been low at 10.5% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoWest Coast Paper Mills Ltd trades at a market cap of ₹3,490 Cr with a P/E of 22.4x and P/B of 0.97x. The company has delivered strong 5-year profit CAGR of 115% but faces a sharp TTM profit decline of -53%, with ROE falling from 18% (5-year average) to 4% in the last year.
- Stock trades below book value at 0.97x P/B, suggesting asset-heavy balance sheet provides a valuation floor
- Company has reduced debt, improving financial flexibility and lowering interest burden
- 5-year compounded profit growth of 115% demonstrates long-term earnings power through cycles
- 5-year compounded sales growth of 14% shows sustained revenue expansion over a meaningful period
- 10-year stock CAGR of 20% indicates significant long-term wealth creation for shareholders
- TTM sales growth of 5% suggests revenue stabilization after a 3-year CAGR decline of -5%
- Dividend yield of 0.94% provides some income support while the company navigates a cyclical downturn
- TTM compounded profit has declined -53%, indicating severe margin compression in the current cycle
- 3-year compounded profit CAGR of -46% shows a sustained and deep earnings deterioration, not a one-off
- Working capital days have nearly doubled from 73.8 days to 151 days, signalling significant cash flow strain and potential inventory buildup
- ROE has collapsed from 18% (5-year average) to just 4% in the last year, reflecting poor capital efficiency
- 3-year ROE of 12% and last-year ROE of 4% are well below cost of equity for a cyclical commodity business
- Dividend payout ratio of only 10.5% of profits over the last 3 years limits shareholder returns during the downturn
- 3-year sales CAGR of -5% indicates revenue contraction, likely due to commodity price weakness in the paper cycle
- 1-year stock return of -6% reflects market's recognition of deteriorating fundamentals
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago- Record date set for dividend Jun 17
West Coast Paper Mills fixed August 10, 2026 as the record date for its AGM and dividend. Book closure period runs August 11–17, 2026.
TL;DR: Limited recent news flow for West Coast Paper Mills. The company has announced administrative details for its upcoming AGM and dividend, signaling routine corporate governance activity. No material headwinds or catalysts are visible from current coverage. Watch for dividend quantum announcement and quarterly results for directional cues.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,139 | 1,194 | 1,045 | 1,070 | 960 | 1,045 | 1,016 | 1,041 | 955 | 1,043 | 1,036 | 1,245 | 1,051 |
| Expenses | 744 | 884 | 828 | 900 | 785 | 903 | 933 | 961 | 844 | 975 | 959 | 1,088 | 848 |
| Operating Profit | 395 | 310 | 218 | 170 | 176 | 142 | 83 | 81 | 110 | 68 | 77 | 157 | 203 |
| OPM % | 35% | 26% | 21% | 16% | 18% | 14% | 8% | 8% | 12% | 7% | 7% | 13% | 19% |
| Other Income | 35 | 35 | 41 | 59 | 42 | 54 | 69 | 45 | 45 | 23 | 45 | 3 | 45 |
| Interest | 7 | 6 | 6 | 6 | 7 | 8 | 10 | 13 | 11 | 10 | 11 | 10 | 8 |
| Depreciation | 44 | 46 | 46 | 49 | 47 | 53 | 53 | 57 | 58 | 62 | 63 | 65 | 59 |
| PBT | 379 | 294 | 207 | 174 | 163 | 135 | 89 | 56 | 86 | 19 | 47 | 85 | 181 |
| Tax % | 27% | 26% | 23% | 25% | 26% | 26% | 24% | 18% | 30% | 37% | 37% | 36% | 22% |
| Net Profit | 278 | 219 | 159 | 130 | 122 | 101 | 67 | 46 | 60 | 12 | 30 | 54 | 142 |
| EPS in Rs | 37.17 | 28.88 | 20.58 | 18.14 | 17.24 | 13.49 | 9.72 | 6.66 | 8.23 | 2.65 | 4.07 | 7.85 | 20.21 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,710 | 1,979 | 2,493 | 2,245 | 3,378 | 4,921 | 4,448 | 4,062 | 4,279 | 4,375 |
| Expenses | 1,348 | 1,468 | 1,875 | 1,983 | 2,740 | 3,274 | 3,353 | 3,568 | 3,865 | 3,870 |
| Operating Profit | 362 | 511 | 618 | 261 | 638 | 1,647 | 1,095 | 494 | 414 | 505 |
| OPM % | 21% | 26% | 25% | 12% | 19% | 33% | 25% | 12% | 10% | 12% |
| Other Income | 18 | 20 | 52 | 12 | 54 | 58 | 167 | 198 | 114 | 115 |
| Interest | 42 | 29 | 75 | 70 | 59 | 37 | 24 | 38 | 42 | 38 |
| Depreciation | 116 | 176 | 198 | 229 | 213 | 189 | 185 | 210 | 248 | 250 |
| PBT | 222 | 326 | 397 | -26 | 420 | 1,478 | 1,053 | 444 | 237 | 332 |
| Tax % | 0% | 9% | -2% | -83% | 18% | 26% | 25% | 24% | 34% | — |
| Net Profit | 223 | 296 | 406 | -4 | 346 | 1,087 | 786 | 336 | 156 | 237 |
| EPS in Rs | 33.79 | 44.82 | 56.08 | -0.47 | 46.49 | 143 | 105 | 47.11 | 22.8 | 34.78 |
| Div. Payout % | 12% | 11% | 9% | -213% | 13% | 7% | 8% | 11% | 13% | — |
Balance Sheet
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 826 | 1,090 | 1,375 | 1,376 | 1,673 | 2,568 | 3,228 | 3,478 | 3,595 |
| Borrowings | 315 | 361 | 753 | 662 | 478 | 231 | 276 | 456 | 345 |
| Other Liabilities | 436 | 455 | 1,043 | 1,018 | 1,094 | 1,361 | 1,600 | 1,565 | 1,502 |
| Total Liabilities | 1,590 | 1,920 | 3,184 | 3,069 | 3,259 | 4,173 | 5,118 | 5,512 | 5,455 |
| Fixed Assets | 1,035 | 991 | 2,018 | 1,873 | 1,757 | 1,659 | 1,882 | 2,126 | 2,182 |
| CWIP | 3 | 37 | 57 | 34 | 22 | 55 | 210 | 172 | 290 |
| Investments | 1 | 223 | 45 | 220 | 472 | 1,310 | 1,730 | 1,604 | 1,492 |
| Other Assets | 551 | 669 | 1,065 | 942 | 1,008 | 1,149 | 1,296 | 1,610 | 1,491 |
| Total Assets | 1,590 | 1,920 | 3,184 | 3,069 | 3,259 | 4,173 | 5,118 | 5,512 | 5,455 |
Cash Flow
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 326 | 394 | 649 | 338 | 591 | 1,238 | 764 | 99 | 400 |
| Investing | -139 | -382 | -858 | -166 | -289 | -894 | -714 | -172 | -188 |
| Financing | -194 | -12 | 218 | -167 | -295 | -334 | -61 | 72 | -206 |
| Net Cash Flow | -6 | -1 | 9 | 5 | 7 | 10 | -11 | 0 | 7 |
| Free Cash Flow | 180 | 225 | 536 | 265 | 528 | 1,077 | 240 | -350 | 19 |
| CFO/OP | 104 | 89 | 113 | 129 | 108 | 95 | 93 | 38 | 108 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 25 | 30 | 21 | 33 | 26 | 25 | 21 | 31 | 33 |
| Inventory Days | 137 | 159 | 167 | 128 | 85 | 88 | 117 | 136 | 113 |
| Days Payable | 81 | 67 | 63 | 64 | 59 | 54 | 56 | 52 | 37 |
| Cash Conversion Cycle | 82 | 123 | 124 | 98 | 52 | 58 | 81 | 115 | 109 |
| Working Capital Days | 24 | 18 | 18 | 7 | 11 | 13 | 21 | 50 | 52 |
| ROCE % | — | 27% | 24% | 2% | 20% | 53% | 29% | 11% | 6% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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56 extracted metrics + investor summaries across FY18–FY26.
Documents
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Company Information
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]
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