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West Coast Paper Overview

West Coast Paper Mills Ltd. is a India-based agency, that is engaged in manufacturing of paper and paperboard, and optical fiber cable. It produces paper for writing, packaging and printing in India. Its segments consist of Paper/Paperboard, inclusive of Duplex Board at Dandeli; Telecommunication Cables at Mysore, and Others. Its merchandise comprises premium printing papers, business stationary, coated duplex boards and device-glazed (MG) varieties. It additionally gives grey-back and kraft- back boards to the garment and footwear enterprise.

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West Coast Paper Key Financials

Market Cap ₹3190 Cr.

Stock P/E 9.5

P/B 0.9

Current Price ₹483.1

Book Value ₹ 540.2

Face Value 2

52W High ₹581.4

Dividend Yield 1.04%

52W Low ₹ 375.1

West Coast Paper Share Price

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Volume
Price

West Coast Paper Quarterly Price

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West Coast Paper Peer Comparison

West Coast Paper Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1194 1045 1070 960 1045 1016 1041 955 1043 1050
Other Income 35 41 59 42 54 69 45 45 23 45
Total Income 1229 1087 1129 1002 1099 1085 1086 999 1066 1094
Total Expenditure 884 828 900 785 903 933 961 844 975 973
Operating Profit 346 259 228 218 196 152 126 155 91 121
Interest 6 6 6 7 8 10 13 11 10 11
Depreciation 46 46 49 47 53 53 57 58 62 63
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 294 207 174 163 135 89 56 86 19 47
Provision for Tax 75 48 43 42 35 21 10 26 7 18
Profit After Tax 219 159 130 122 101 67 46 60 12 30
Adjustments -28 -23 -11 -8 -11 -3 -2 -6 6 -3
Profit After Adjustments 191 136 120 114 89 64 44 54 17 27
Adjusted Earnings Per Share 28.9 20.6 18.1 17.2 13.5 9.7 6.7 8.2 2.6 4.1

West Coast Paper Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1710 1979 2493 2245 3378 4921 4448 4062 4089
Other Income 18 20 54 25 62 78 170 211 158
Total Income 1728 1999 2546 2269 3440 4998 4618 4273 4245
Total Expenditure 1348 1468 1877 1992 2744 3279 3356 3581 3753
Operating Profit 380 531 670 277 696 1720 1262 692 493
Interest 42 29 75 70 63 37 24 38 45
Depreciation 116 176 198 229 213 189 185 210 240
Exceptional Income / Expenses 0 0 0 -4 0 -15 0 0 0
Profit Before Tax 222 326 397 -26 420 1478 1053 444 208
Provision for Tax -1 30 -9 -22 75 391 267 108 61
Profit After Tax 223 296 406 -4 346 1087 786 336 148
Adjustments 0 -0 -36 1 -39 -145 -94 -24 -5
Profit After Adjustments 223 296 370 -3 307 942 692 311 142
Adjusted Earnings Per Share 33.8 44.8 56.1 -0.5 46.5 142.6 104.8 47.1 21.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -9% 6% 10% 0%
Operating Profit CAGR -45% -0% 1% 0%
PAT CAGR -57% -1% -4% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 8% -4% 19% 20%
ROE Average 10% 29% 22% 27%
ROCE Average 13% 36% 27% 28%

West Coast Paper Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 839 1103 1388 1389 1686 2581 3242 3491
Minority's Interest 0 0 316 316 349 484 569 579
Borrowings 210 154 535 406 235 70 140 214
Other Non-Current Liabilities 225 204 241 294 529 256 347 331
Total Current Liabilities 384 513 707 757 789 783 822 898
Total Liabilities 1658 1975 3187 3162 3588 4173 5118 5512
Fixed Assets 1052 1001 2018 1873 1757 1659 1882 2126
Other Non-Current Assets 101 131 141 285 543 441 715 697
Total Current Assets 504 843 1027 1002 1286 2072 2521 2689
Total Assets 1658 1975 3187 3162 3588 4173 5118 5512

West Coast Paper Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 14 8 7 16 21 26 36 25
Cash Flow from Operating Activities 326 394 649 338 591 1238 764 99
Cash Flow from Investing Activities -139 -382 -881 -166 -291 -894 -714 -172
Cash Flow from Financing Activities -194 -12 218 -167 -295 -334 -61 72
Net Cash Inflow / Outflow -6 -1 -14 5 5 10 -11 -0
Closing Cash & Cash Equivalent 8 7 16 21 26 36 25 25

West Coast Paper Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 33.79 44.82 56.08 -0.47 46.49 142.62 104.77 47.11
CEPS(Rs) 51.38 71.47 91.5 34.06 84.54 193.26 147.04 82.59
DPS(Rs) 4 5 5 1 6 10 8 5
Book NAV/Share(Rs) 126.6 166.64 209.76 209.86 254.88 390.31 490.38 528.19
Core EBITDA Margin(%) 20.89 25.82 24.72 11.26 18.75 33.37 24.55 11.84
EBIT Margin(%) 15.23 17.93 18.93 1.96 14.3 30.79 24.22 11.86
Pre Tax Margin(%) 12.83 16.45 15.93 -1.17 12.45 30.03 23.68 10.92
PAT Margin (%) 12.87 14.96 16.31 -0.2 10.24 22.09 17.67 8.26
Cash Profit Margin (%) 19.57 23.85 24.24 10.02 16.53 25.94 21.84 13.43
ROA(%) 20.2 16.29 15.75 -0.14 10.25 28.01 16.92 6.31
ROE(%) 44.61 30.57 32.7 -0.32 22.54 51.02 27.03 9.98
ROCE(%) 33.75 26.98 26.09 2.09 23.03 61.5 34.27 12.98
Receivable days 17.04 26.02 22.35 28.13 24.11 21.31 24.19 27.29
Inventory Days 51.34 71.11 71.49 78.07 43.64 32.94 48.17 69.74
Payable days 80.2 105.28 89.36 92.91 79.95 80.47 77.74 68.84
PER(x) 7.09 5.99 2.3 0 7.19 3.72 5.66 8.68
Price/Book(x) 1.89 1.61 0.61 1.14 1.31 1.36 1.21 0.77
Dividend Yield(%) 1.67 1.86 3.88 0.42 1.8 1.89 1.35 1.22
EV/Net Sales(x) 1.11 1.08 0.58 0.96 0.77 0.74 0.93 0.76
EV/Core EBITDA(x) 4.98 4.02 2.14 7.8 3.74 2.11 3.27 4.49
Net Sales Growth(%) 241.63 15.73 25.96 -9.96 50.48 45.69 -9.61 -8.66
EBIT Growth(%) 469.56 34.36 32.99 -90.69 999.21 213.64 -28.89 -55.28
PAT Growth(%) 644.85 32.65 37.33 -101.08 7992.13 214.27 -27.68 -57.3
EPS Growth(%) 396.78 32.65 25.13 -100.84 9990.64 206.8 -26.54 -55.04
Debt/Equity(x) 0.38 0.33 0.55 0.48 0.27 0.08 0.08 0.12
Current Ratio(x) 1.31 1.64 1.45 1.32 1.63 2.65 3.07 3
Quick Ratio(x) 0.42 0.81 0.68 0.78 1.13 2.02 2.24 2.03
Interest Cover(x) 6.34 12.14 6.3 0.63 7.72 40.86 45.07 12.62
Total Debt/Mcap(x) 0.2 0.21 0.89 0.42 0.2 0.06 0.07 0.16

West Coast Paper Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 56.53 56.53 56.53 56.53 56.53 56.55 56.55 56.55 56.55 56.58
FII 7.98 8.19 7.4 6.17 5.3 4.2 3.78 3.31 3.26 3.24
DII 6.62 7.14 7.2 8.19 9.35 9.82 11.73 12.62 12.66 13.11
Public 28.87 28.15 28.87 29.11 28.81 29.42 27.94 27.52 27.53 27.07
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

West Coast Paper News

West Coast Paper Pros & Cons

Pros

  • Stock is trading at 0.9 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29%
  • Debtor days have improved from 77.74 to 68.84days.
  • Company is almost debt free.

Cons

  • The company has delivered a poor profit growth of -3% over past five years.
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