West Coast Paper Mills Ltd
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]
Strengths
- +Company is almost debt free.
- +Stock is trading at 1.10 times its book value
Weaknesses
- −The company has delivered a poor sales growth of 4.84% over past five years.
- −Working capital days have increased from 43.8 days to 67.4 days
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 56.53% | 56.53% | 56.53% | 56.55%▲0.0 | 56.55% | 56.55% | 56.55% | 56.58%▲0.0 |
| FIIs | 7.4% | 6.17%▼1.2 | 5.3%▼0.9 | 4.2%▼1.1 | 3.77%▼0.4 | 3.31%▼0.5 | 3.26%▼0.1 | 3.24%▼0.0 |
| DIIs | 7.19% | 8.19%▲1.0 | 9.35%▲1.2 | 9.82%▲0.5 | 11.74%▲1.9 | 12.61%▲0.9 | 12.65%▲0.0 | 13.11%▲0.5 |
| Public | 28.87% | 29.12%▲0.3 | 28.82%▼0.3 | 29.43%▲0.6 | 27.95%▼1.5 | 27.55%▼0.4 | 27.54%▼0.0 | 27.06%▼0.5 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 706 | 565 | 701 | 642 | 609 | 629 | 631 | 556 | 645 | 591 |
| Expenses | 529 | 458 | 567 | 501 | 519 | 575 | 567 | 479 | 574 | 534 |
| Operating Profit | 178 | 107 | 133 | 141 | 90 | 54 | 64 | 77 | 70 | 57 |
| OPM % | 25% | 19% | 19% | 22% | 15% | 9% | 10% | 14% | 11% | 10% |
| Net Profit | 156 | 78 | 82 | 93 | 92 | 58 | 41 | 41 | 45 | 19 |
| EPS ₹ | 23.56 | 11.75 | 12.48 | 14.1 | 13.93 | 8.81 | 6.27 | 6.22 | 6.82 | 2.82 |
AI Insights
TTM revenue at ₹2,422Cr, down 3.5% YoY. OPM at 11%.
Borrowings at ₹181Cr. Debt-to-equity ratio: 0.07x. Healthy balance sheet.
CWIP at ₹34Cr (4% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 13.11% (+5.93pp change). FIIs: 3.24% (-4.14pp change). Promoters hold 56.58%.
ROCE improving from 5% (Mar 2014) to 14% (Mar 2025). Working capital days: 67.
PE 21.2x with 14.1% ROCE. Price is 12% above book value of ₹418. Dividend yield: 1.07%.
Recent Announcements
- Board Meeting Intimation for Financial Results And Dividend If Any 9m - Board meeting on May 27, 2026 to approve audited Q4 and FY26 results and consider dividend.
- Compliances-Reg.24(A)-Annual Secretarial Compliance 6 May - Submitted annual secretarial compliance report for year ended March 31, 2026.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 25 Apr - West Coast Paper Mills says it is not a Large Corporate as of March 31, 2026.
- Special Window 18 Apr - Published newspaper ads on April 17-18, 2026 for special window to re-lodge physical share transfer requests.
- Postal Ballot 11 Apr - Postal ballot passed reappointment of S.K. Bangur as CMD for May 1, 2026-Apr 30, 2031; Sudha Bhushan reappointed.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse