Table of Contents

West Coast Paper Mills Ltd

Updated on April 19, 2024

Stock/Share Code - WSTCSTPAPR

West Coast Paper Mills is engaged in Paper & Paper Board at Dandeli and Optical Fibre Cable at Mysore. The Companys Dandeli Plant is integrated Pulp & Paper Plant and produce various type of quality Paper & Paper Board. This caters to needs of innumerabl

Below is the details of WSTCSTPAPR West Coast Paper Mills Ltd

Market Cap	₹1,249 Cr.
Current Price	₹533 as on 23 Mar 23
52 Week High / Low Price	₹286 / ₹99.9
Face Value	₹2
Stock P/E	4.52
Book Value	₹196.15
Dividend Yield	2.64 %
ROCE	21.52 %
ROE	23.04 %
Sales Growth (3yrs)	3.86 %
Sector	Paper
Industry	Paper
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Stock is trading at 0.97 times its book value Company has delivered good profit growth of 83.93% CAGR over last 5 years Company has a good return on equity (ROE) track record: 3 Years ROE 27.20%

Cons: The company has delivered a poor growth of 3.76% over past five years. Tax rate seems low

West Coast Paper Mills Ltd Price Chart

West Coast Paper Mills Ltd Peer Comparison in Paper

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.	Century Textiles		10.76	₹3,723.93 Cr.	0.90	-₹26.88 Cr.	-134.73	-54.35	399.45	9.71
2.	JK Paper	₹308.95	4.72	₹1,660.65 Cr.	4.20	₹3.52 Cr.	-97.23	-34.19	469.24	20.77
3.	West Coast Paper		4.52	₹1,249.01 Cr.	2.64	₹52.39 Cr.	-6.43	-20.20	463.22	21.52
4.		15.94	₹1,227.5 Cr.	0.12	₹11.65 Cr.	-55.95	-44.26	125.11	24.03
5.	Seshasayee Paper		5.96	₹950.12 Cr.	2.31	₹19.3 Cr.	-50.53	-50.01	139.23	25.97
6.	Andhra Paper		6.46	₹847.5 Cr.	0.00	-₹25.08 Cr.	-133.88	-67.14	121.01	27.43
7.	T N Newsprint		24.75	₹840.9 Cr.	4.94	-₹20.01 Cr.	-125.95	-47.80	496.47	11.01
8.	Emami Paper		53.62	₹442.86 Cr.	1.66	-₹7.28 Cr.	-820.79	-41.82	206.00	8.87

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West Coast Paper Mills Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020
Sales -	387	422	409	494	459	505	435	581	535	510	476	463
YOY Sales Growth %	-5.55%	-5.42%	-7.02%	3.92%	18.69%	19.76%	6.55%	17.61%	16.68%	0.97%	9.38%	-20.20%
Expenses -	304	338	336	369	341	370	326	434	379	381	391	353
Material Cost %	50%	56%	56%	51%	49%	51%	48%	50%	48%	49%	54%	51%
Employee Cost %	8%	7%	8%	6%	7%	6%	8%	7%	7%	8%	9%	9%
Operating Profit	83	83	73	124	118	135	109	147	157	129	85	110
OPM %	21%	20%	18%	25%	26%	27%	25%	25%	29%	25%	18%	24%
Other Income	3	1	9	5	10	2	3	5	15	14	12	7
Interest	8	12	5	18	10	10	2	6	10	12	25	26
Depreciation	26	28	29	33	39	42	45	49	39	42	41	44
Profit before tax	52	44	48	79	78	85	65	97	122	89	32	47
Tax %	-4%	-7%	10%	-0%	-7%	-4%	-4%	42%	16%	8%	-25%	-10%
Net Profit	54	48	43	79	84	88	68	56	102	82	40	52
EPS in Rs	8.13	7.23	6.50	11.93	12.72	13.40	10.23	8.48	15.46	12.42	6.04	7.93
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Sales -	620	624	1,071	1,305	1,455	1,562	1,648	1,700	1,769	1,710	1,980	1,982
Sales Growth %	6.03%	0.67%	71.65%	21.87%	11.45%	7.40%	5.51%	3.13%	4.08%	-3.34%	15.75%	0.15%
Expenses -	500	513	832	1,079	1,186	1,353	1,403	1,450	1,431	1,348	1,470	1,501
Material Cost %	35%	37%	48%	53%	56%	59%	60%	59%	58%	53%	50%	50%
Manufacturing Cost %	31%	32%	20%	19%	17%	19%	17%	16%	13%	15%	14%	9%
Employee Cost %	10%	9%	6%	6%	6%	6%	6%	7%	7%	8%	8%	8%
Other Cost %	4%	4%	3%	4%	3%	3%	3%	3%	3%	3%	3%	8%
Operating Profit	120	111	239	226	269	209	245	250	338	362	509	481
OPM %	19%	18%	22%	17%	18%	13%	15%	15%	19%	21%	26%	24%
Other Income	8	6	6	-58	-35	5	-48	-46	2	18	20	48
Interest	8	12	56	72	73	73	70	76	52	42	29	72
Depreciation	20	24	96	143	136	127	122	114	111	116	175	166
Profit before tax	100	81	93	-47	25	14	5	14	178	223	325	290
Tax %	10%	33%	3%	28%	26%	52%	77%	103%	28%	-0%	9%	5%
Net Profit	91	55	90	-34	18	7	1	-0	128	223	296	276
EPS in Rs	14.63	7.35	13.02	0.00	2.57	0.83	0.17	0.00	19.46	33.80	44.82	41.85
Dividend Payout %	13%	23%	14%	-4%	36%	100%	0%	-1,405%	13%	12%	11%	12%

Compounded Sales Growth

10 Years:: 12.26%
5 Years:: 3.76%
3 Years:: 3.86%
TTM:: 0.15%

Compounded Profit Growth

10 Years:: 17.61%
5 Years:: 83.93%
3 Years:: 29.09%
TTM:: -5.95%

Return on Equity

10 Years:: 6.47%
5 Years:: 24.83%
3 Years:: 1.01%
1 Year:: -14.98%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Share Capital -	77	78	78	13	13	13	13	13	13	13	13	13
Preference Capital	65.00	65.00	65.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Equity Capital	12.08	12.55	12.55	12.55	13.21	13.21	13.21	13.21	13.21	13.21	13.21	13.21
Reserves	479	524	593	557	585	583	585	503	626	826	1,090	1,282
Borrowings	1,174	1,235	1,212	1,264	1,081	1,066	910	744	444	315	357	612
Other Liabilities -	323	341	335	281	279	432	417	470	448	436	455	491
Trade Payables	181	180	70	100	106	258	249	199	148	202	190	79
Other liability items	142	161	264	181	173	174	168	271	300	234	265	412
Total Liabilities	1,988	2,112	2,152	2,114	1,958	2,094	1,925	1,731	1,531	1,590	1,915	2,398
Fixed Assets -	207	806	1,528	1,457	1,318	1,243	1,147	1,086	1,001	1,035	985	913
Gross Block	411	1,032	1,850	1,982	2,013	2,051	2,077	2,144	2,159	2,302	2,404
Accumulated Depreciation	205	226	322	526	696	809	930	1,058	1,158	1,266	1,419
CWIP	1,120	747	0	5	3	5	2	3	6	3	37	55
Investments	46	47	47	47	47	47	47	1	1	1	223	912
Other Assets -	615	513	577	606	591	800	730	641	523	551	671	517
Inventories	144	179	201	313	301	488	483	375	283	343	428	324
Trade receivables	43	34	73	73	82	101	125	118	128	119	163	101
Cash Equivalents	284	117	76	14	6	9	13	13	23	10	5	4
Loans n Advances	145	185	183	246	225	161	111	109	148	175	178	5
Other asset items	-2	-2	44	-40	-23	41	-3	26	-59	-96	-103	83
Total Assets	1,988	2,112	2,152	2,114	1,958	2,094	1,925	1,731	1,531	1,590	1,915	2,398

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Cash from Operating Activity -	65	35	70	183	263	150	257	98	434	326	394	544
Profit from operations	125	116	240	229	270	210	244	250	340	374	518	485
Receivables	-83	-21	-62	27	-5	-15	70	7	-11	6	-44	60
Inventory	-31	-35	-22	-112	13	-187	5	26	107	-60	-78	107
Payables	74	-3	-9	44	-14	145	-11	-172	37	56	-12	-95
Other WC items	0	0	0	0	0	0	0	-7	-17	3	69	19
Working capital changes	-40	-60	-93	-41	-7	-57	64	-146	116	4	-64	91
Interest paid	-8	-12	-56	0	0	0	0	0	0	0	0	0
Direct taxes	-13	-10	-22	-5	-0	-4	-0	-6	-22	-52	-59	-32
Exceptional CF items	0	0	0	0	0	0	-52	0	0	0	0	0
Cash from Investing Activity -	-804	-249	-67	-138	-32	-51	-22	34	-39	-139	-383	-771
Fixed assets purchased	-817	-250	-72	-141	-40	-61	-24	-30	-30	-149	-164	-105
Fixed assets sold	0	0	0	1	5	5	1	0	0	3	2	0
Investments purchased	0	-1	0	0	0	0	0	0	0	0	-220	-644
Investments sold	10	0	0	0	0	0	0	46	0	0	0	882
Investment income	0	0	0	0	0	0	0	0	0	0	0	0
Interest received	3	1	5	2	4	6	1	7	1	0	7	1
Dividends received	0	0	0	0	0	0	0	0	0	0	0	0
Invest in subsidiaries	0	0	0	0	0	0	0	0	0	0	0	-912
Loans to subsidiaries	0	0	0	0	0	0	0	0	0	-0	-8	7
Acquisition of companies	0	0	0	0	0	0	0	0	0	-0	0	0
Other investing items	0	0	0	0	0	0	0	11	-9	7	0	1
Cash from Financing Activity -	837	46	-43	-107	-239	-96	-230	-132	-394	-194	-16	225
Proceeds from shares	90	0	0	0	18	0	0	0	0	0	0	0
Proceeds from borrowings	791	67	166	169	0	0	42	0	0	93	115	581
Repayment of borrowings	-23	-6	-188	-117	-252	0	-198	0	-335	-227	-79	-218
Interest paid fin	0	0	0	-71	-73	-73	-67	-76	-52	-41	-20	-57
Dividends paid	-20	-15	-21	-22	-2	-8	-8	0	-7	-17	-26	-66
Financial liabilities	-1	0	0	0	0	0	0	0	0	0	0	0
Other financing items	0	0	0	-65	69	-15	0	-56	-1	-3	-5	-14
Net Cash Flow	98	-168	-41	-62	-8	3	4	-1	1	-7	-5	-1

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Ratios

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %	8%	5%	8%	5%	8%	5%	8%	10%	20%	23%	27%	22%
Debtor Days	26	20	25	20	21	24	28	25	26	25	30	19
Inventory Turnover	2.28	1.87	3.42	3.29	3.10	2.77	2.35	2.70	3.56	3.45	3.03	3.12

Announcements & News

Recent Announcements

Announcement Under Regulation 30(LODR)-Updates | Jul 17
Shareholding for the Period Ended June 30, 2020 | Jul 16
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 | Jul 15
Statement Of Investor Complaints For The Quarter Ended June 2020 | Jul 13
Closure of Trading Window | Jul 3

Credit Ratings

West Coast Paper Mills Ltd.: [ICRA]AA- (Stable)/A1+ ratings assigned; NCD limits reduced 23 Oct 2019 from icra
West Coast Paper Mills Limited: [ICRA]AA-(Stable) rating assigned 30 Aug 2019 from icra
West Coast Paper Mills Ltd. 5 Jan 2018 from care
India Ratings Upgrades The West Coast Paper Mills to ‘IND A+’; Outlook Stable; Rates New Loan 12 Sep 2017 from fitch
West Coast Paper Mills Limited 24 Jul 2017 from care
The West Coast Paper Mills Ltd. 11 Apr 2017 from care

Annual Reports

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