West Coast Paper Mills Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Paper and Paper Board: 89.5% • Telecommunication Cable: 10.5% • Others: 0.0%
PROS
- Company has delivered good profit growth of 137.1% CAGR over last 5 years
- Company is almost debt free
- Latest quarter profit grew 164.8% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.99x)
- Company comfortably covers its interest (11.2x coverage)
- Company has a consistent dividend-paying track record
CONS
- A large part of profit comes from other income (30.6% of PBT)
- Operating margins have contracted to 12.5% from 33.7%
- Valuation is stretched - P/E of 19.9 is well above its own 5-year median (9.5)
- Growth is decelerating - 3Y profit CAGR (-36.1%) trails the 5Y trend (137.1%)
- Though reporting repeated profits, the company pays out little dividend (12.9%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JKPAPER | 408.10 | 22.82 | 7399.62 | 0.98 | 136.27 | 59.49 | 1887.17 | 12.72 | 7.80 | 15.39 |
| WSTCSTPAPR | 667.30 | 19.19 | 4407.44 | 0.45 | 141.84 | 135.37 | 1051.26 | 10.12 | 7.11 | 19.34 |
| SESHAPAPER | 244.30 | 15.56 | 1540.75 | 0.82 | 31.91 | 106.80 | 492.08 | 27.68 | 5.60 | 8.85 |
| ANDHRAPAP | 68.16 | 49.06 | 1355.36 | 0.73 | 303.16 | 1322.95 | 3937.71 | 900.89 | 1.99 | 12.39 |
| TNPL | 155.25 | 4.12 | 1074.49 | 2.58 | 5.74 | 177.46 | 1146.64 | 1.53 | 5.85 | 10.02 |
| NRAIL | 612.55 | 16.78 | 1042.50 | 0.33 | 34.98 | 111.33 | 646.96 | 43.09 | 8.25 | 11.48 |
| PDMJEPAPER | 96.76 | 10.09 | 918.74 | 0.62 | 33.72 | -6.95 | 202.92 | 3.29 | 20.10 | 17.53 |
| SATIA | 66.27 | 0.00 | 662.70 | 0.30 | -17.12 | -154.18 | 361.81 | -2.45 | 3.99 | 14.04 |
| KUANTUM | 75.30 | 18.19 | 657.10 | 3.32 | 6.23 | -48.34 | 303.75 | 36.87 | 5.24 | 13.20 |
| RAMANEWS | 32.70 | 0.00 | 482.40 | 0.00 | -10.50 | -29.46 | 9.72 | 6.02 | 1.87 | -7.68 |
| BBTCL | 226.50 | 13.96 | 464.58 | 0.00 | 14.39 | 727.77 | 180.47 | 18.53 | 3.03 | 18.69 |
| ORIENTPPR | 17.87 | 2.41 | 379.18 | 0.00 | -8.25 | -124.27 | 227.61 | -4.50 | -4.28 | 3.52 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 651 | 706 | 565 | 701 | 642 | 609 | 629 | 631 | 556 | 645 | 591 | 707 | 638 | |
| 414 | 529 | 458 | 567 | 501 | 519 | 575 | 567 | 479 | 574 | 534 | 597 | 525 | |
| Operating Profit | 238 | 178 | 107 | 133 | 141 | 90 | 54 | 64 | 77 | 70 | 57 | 110 | 113 |
| OPM % | 36.50% | 25.14% | 18.93% | 19.03% | 21.99% | 14.75% | 8.64% | 10.20% | 13.77% | 10.89% | 9.58% | 15.55% | 17.71% |
| 14 | 50 | 18 | 15 | 17 | 53 | 54 | 25 | 18 | 27 | 16 | 8 | 24 | |
| Interest | 5 | 4 | 5 | 5 | 5 | 4 | 5 | 6 | 5 | 5 | 6 | 6 | 5 |
| Depreciation | 26 | 27 | 27 | 30 | 26 | 27 | 29 | 30 | 30 | 33 | 34 | 36 | 29 |
| Profit before Tax | 221 | 197 | 93 | 114 | 127 | 111 | 75 | 54 | 59 | 59 | 33 | 76 | 137 |
| Tax % | 27.31% | 21.00% | 16.07% | 27.65% | 26.72% | 17.20% | 22.27% | 23.01% | 30.88% | 23.89% | 44.20% | 35.82% | 20.42% |
| Net Profit | 160 | 156 | 78 | 82 | 93 | 92 | 58 | 41 | 41 | 45 | 19 | 49 | 109 |
| 24.30 | 23.56 | 11.76 | 12.48 | 14.10 | 13.93 | 8.81 | 6.27 | 6.21 | 6.82 | 2.82 | 7.40 | 16.45 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,769 | 1,710 | 1,979 | 1,982 | 1,368 | 1,985 | 2,810 | 2,623 | 2,511 | 2,498 | 2,581 | |
| 1,431 | 1,348 | 1,470 | 1,501 | 1,177 | 1,580 | 1,908 | 1,967 | 2,162 | 2,185 | 2,231 | |
| Operating Profit | 338 | 362 | 509 | 481 | 191 | 406 | 902 | 656 | 350 | 313 | 350 |
| OPM % | 19.11% | 21.18% | 25.74% | 24.27% | 13.96% | 20.43% | 32.11% | 24.99% | 13.93% | 12.53% | 13.55% |
| 5 | 18 | 21 | 48 | 10 | 34 | 46 | 97 | 150 | 70 | 75 | |
| Interest | 54 | 42 | 29 | 72 | 65 | 57 | 29 | 19 | 20 | 22 | 22 |
| Depreciation | 111 | 116 | 175 | 166 | 153 | 138 | 119 | 109 | 113 | 132 | 132 |
| Profit before Tax | 178 | 223 | 325 | 290 | -18 | 244 | 799 | 624 | 367 | 228 | 305 |
| Tax % | 27.76% | -0.30% | 9.02% | 4.81% | 111.62% | 10.78% | 26.55% | 23.72% | 22.38% | 32.67% | 27.54% |
| Net Profit | 129 | 223 | 296 | 276 | 2 | 218 | 587 | 476 | 285 | 154 | 221 |
| EPS | 19.46 | 33.80 | 44.82 | 41.85 | 0.31 | 33.02 | 88.89 | 72.10 | 43.11 | 23.25 | — |
| Dividend Payout % | 12.85% | 11.84% | 11.15% | 11.95% | 322.58% | 18.17% | 11.25% | 11.10% | 11.60% | 12.91% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 13%
- 3 Years:
- -4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 137%
- 3 Years:
- -36%
STOCK PRICE CAGR
- 10 Years:
- 22%
- 5 Years:
- 25%
- 3 Years:
- -1%
- 1 Year:
- 46%
RETURN ON EQUITY
- 10 Years:
- 19%
- 5 Years:
- 17%
- 3 Years:
- 13%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | 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 | 13 |
| 623 | 823 | 1,088 | 1,280 | 1,282 | 1,492 | 2,035 | 2,464 | 2,689 | 2,808 | |
| 575 | 449 | 496 | 871 | 761 | 533 | 282 | 248 | 249 | 220 | |
| Trade Payables | 148 | 202 | 180 | 79 | 70 | 109 | 105 | 108 | 142 | 97 |
| 213 | 172 | 194 | 110 | 144 | 250 | 232 | 340 | 337 | 295 | |
| Total Liabilities | 1,572 | 1,658 | 1,970 | 2,352 | 2,270 | 2,397 | 2,667 | 3,173 | 3,429 | 3,433 |
| 1,024 | 1,052 | 995 | 913 | 835 | 754 | 671 | 674 | 703 | 788 | |
| Capital Work in Progress | 6 | 3 | 37 | 55 | 25 | 14 | 24 | 91 | 131 | 8 |
| 1 | 1 | 223 | 912 | 912 | 1,001 | 1,335 | 1,629 | 1,626 | 1,779 | |
| 283 | 343 | 428 | 324 | 240 | 246 | 311 | 442 | 544 | 529 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 195 | 239 | 225 | |
| Cash & Bank | 23 | 10 | 5 | 4 | 8 | 5 | 27 | 15 | 24 | 18 |
| 235 | 250 | 283 | 143 | 250 | 377 | 298 | 128 | 163 | 88 | |
| Total Assets | 1,572 | 1,658 | 1,970 | 2,352 | 2,270 | 2,397 | 2,667 | 3,173 | 3,429 | 3,433 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 456 | 378 | 454 | 576 | 239 | 423 | 843 | 454 | 157 | 298 | |
| Cash from Investing | -39 | -139 | -384 | -771 | -59 | -88 | -371 | -356 | -82 | -178 |
| Cash from Financing | -394 | -194 | -16 | 225 | -177 | -299 | -311 | -100 | -66 | -126 |
| 1 | -7 | -5 | -1 | 4 | -4 | 13 | -2 | 9 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - West Coast Paper Mills Limited has informed the Exchange with copy of minutes of Annual General Meeting held on August 17, 2026
2026-08-19 - West Coast Paper Mills Limited has informed the Exchange about Copy of Newspaper Publication-Special Window for Re-lodgement of Transfer Requests of Physical Shares
2026-08-17 - West Coast Paper Mills Limited has informed the Exchange regarding 'Proceedings of 71st AGM, Voting Results and Report of Scrutinizer'.
2026-08-17 - West Coast Paper Mills Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 17, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-13 - West Coast Paper Mills Limited has informed the Exchange about Copy of Newspaper Publication of Financial Results for the Quarter ended 30.06.2026
2026-08-13 - West Coast Paper Mills Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - West Coast Paper Mills Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "Press Release on Unaudited Financial Results for the Quarter ended June 30,2026".
2026-08-12 - Outcome of Board Meeting for Unaudited Financial Results for the Quarter ended 30th June 2026 held on 12th August 2026
2026-08-12 - West Coast Paper Mills Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
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