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Swing Capital

The Indian Wood Products Company Ltd

NSE: IWP BSE: 540954

Incorporated in 1919, The Indian Wood Products Co Ltd is in the business of manufacturing of Katha, processed Gambier and trading of spices[1]

₹34.6
52W: ₹27 — ₹57.2
PE 61.3 · Book ₹56.2 · -38% vs book
Market Cap₹221 Cr
Stock P/E61.3Price to Earnings
ROCE2.96%Return on Capital
ROE1.01%Return on Equity
Div. Yield0.43%Face Value ₹2

Strengths

  • +Stock is trading at 0.60 times its book value
  • +Company has been maintaining a healthy dividend payout of 24.7%

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 3.01% over past five years.
  • −Company has a low return on equity of 0.72% over last 3 years.

Shareholding Pattern

Promoters71.26%
FIIs0%
DIIs0.31%
Public28.43%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.12%71.12%71.12%71.12%71.12%71.12%71.12%71.26%▲0.1
FIIs0%0%0%0%0%0%0%0%
DIIs0.31%0.31%0.31%0.31%0.31%0.31%0.31%0.31%
Public28.57%28.56%▼0.028.57%▲0.028.57%28.56%▼0.028.56%28.56%28.43%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales48.4244.548.5856.3460.025554.4551.4355.2853.32
Expenses45.3541.1744.4452.0156.1551.1250.7747.4851.3549.14
Operating Profit3.073.334.144.333.873.883.683.953.934.18
OPM %6.34%7.48%8.52%7.69%6.45%7.05%6.76%7.68%7.11%7.84%
Net Profit0.320.530.961.051.130.840.660.780.951.22
EPS ₹0.050.080.150.160.180.130.10.120.150.19

AI Insights

Revenue Trend

TTM revenue at ₹214Cr, down 5.3% YoY. OPM at 7%.

Debt Position

Borrowings at ₹80Cr. Debt-to-equity ratio: 0.23x. Healthy balance sheet.

Institutional Flow

DIIs: 0.31% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 71.26%.

Margin & Efficiency

ROCE declining from 20% (Mar 2014) to 3% (Mar 2025). Working capital days: 64.

Valuation

PE 61.3x with 2.96% ROCE. Price is -38% above book value of ₹56.2. Dividend yield: 0.43%.

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