The Indian Wood Products Company Limited (IWP)

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The Indian Wood Products Company Limited (IWP) · mywealthgrid

About

Small-cap forest-products company (₹221 Cr market cap) in India's paper and jute sector. Quarterly revenue stable ₹30–50 Cr but profitability highly volatile (OPM ranged -7.54% to +12.96%); currently 6.98% OPM, 1.39% ROE. Promoter-controlled (71.26%) with minimal institutional investors.

Face value: ₹2

Market cap

₹233 Cr

P/E

46.9×

P/B

0.6×

Dividend yield

0.5%

ROE

1.4%

ROCE

Debt / equity

0.21

OPM

EPS (TTM)

₹0.8

Book value

₹56.2

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Extreme profitability volatility—OPM swung -7.54% (Jun 2020) to +12.96% (Jun 2019); Mar 2020 revenue ₹45.54 Cr yielded ₹0.18 Cr profit (0.4% margin), exposing structural cost or demand sensitivity.

Valuation offers no safety margin—PE 44.31 on ROE 1.39% prices recovery not yet realized; stock down 11% YoY.

Thin operating margin (6.98%) amplifies downside if volumes slip or input costs rise.

Cyclical sector exposure—paper and forest products commodity-like; verify export concentration, input hedging, competitive position.

Generated analysis · source review pending

Growth drivers

Margin recovery from -7.54% (Jun 2020) to 5–8% range (recent quarters) suggests stabilization; continuation expands profitability on flat revenue.

Dividend payouts 2021–2026 indicate cash-generation capacity; verify sustainability and whether retained earnings could fund growth.

Sector growth potential in Indian paper, forest, jute if volume or export demand rises; verify addressable market trends and competitive position.

Generated analysis · source review pending

1,878 historical price candles were omitted because the exchange source has not been verified.

₹36.5-1.1%1Y

Quick read

rule-based

Pros

+Dividend payout of 25.7% of profit
+High promoter holding of 71.3% with no pledge

Cons

−Low return on equity of 0.9% (3-yr avg)
−Thin operating margin of 7%
−Modest revenue growth of 8.3% a year over the last 3 years
−Weak interest coverage of 1.6×

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 20
Growth: 33
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jk Paper LimitedJKPAPERJKPAPER	₹6,937 Cr	₹9,373 Cr	₹7,365 Cr	₹968 Cr	13.1%	₹324 Cr	3.9%	7.4%	4.9%	69
West Coast Paper Mills LimitedWSTCSTPAPRWSTCSTPAPR	₹4,802 Cr	₹5,116 Cr	₹4,389 Cr	₹505 Cr	9.7%	₹237 Cr	3.6%	6%	4.4%	106
Seshasayee Paper And Boards LimitedSESHAPAPERSESHAPAPER	₹1,491 Cr	₹1,491 Cr	₹1,817 Cr	₹119 Cr	5.6%	₹99 Cr	4.8%	4.6%	4.1%	79
Andhra Paper LimitedANDHRAPAPANDHRAPAP	₹1,419 Cr	₹1,652 Cr	₹1,702 Cr	₹82 Cr	4%	₹28 Cr	1.1%	2%	1%	68
N R Agarwal Industries LimitedNRAILNRAIL	₹1,121 Cr	₹1,910 Cr	₹2,340 Cr	₹232 Cr	8.1%	₹62 Cr	2%	8.8%	5.5%	44
Tamil Nadu Newsprint & Papers LimitedTNPLTNPL	₹1,022 Cr	₹2,620 Cr	₹4,649 Cr	₹494 Cr	10.4%	₹261 Cr	5.3%	7%	11.3%	-31
Pudumjee Paper Products LimitedPDMJEPAPERPDMJEPAPER	₹907 Cr	₹930 Cr	₹814 Cr	₹125 Cr	15.3%	₹91 Cr	11.6%	17.8%	14.9%	91
Emami Paper Mills LimitedEMAMIPAPEMAMIPAP	₹707 Cr	₹1,524 Cr	₹2,008 Cr	₹241 Cr	10.3%	₹94 Cr	3.2%	14%	9.8%	107
Satia Industries LimitedSATIASATIA	₹683 Cr	₹982 Cr	₹1,443 Cr	₹119 Cr	9.1%	₹-8 Cr	2.8%	4.6%	3.8%	110
Cheviot Company LimitedCHEVIOTCHEVIOT	₹677 Cr	₹684 Cr	₹598 Cr	₹77 Cr	13.8%	₹68 Cr	9.4%	9.9%	7.6%	163
Kuantum Papers LimitedKUANTUMKUANTUM	₹670 Cr	₹1,530 Cr	₹1,174 Cr	₹162 Cr	14.8%	₹36 Cr	3.8%	5.4%	3.4%	77
Gloster LimitedGLOSTERLTDGLOSTERLTD	₹588 Cr	₹1,486 Cr	₹1,548 Cr	₹154 Cr	10.3%	₹13 Cr	1.3%	6.4%	1.7%	210

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	157	178	182	192	226
COGS	91	114	113	116	143
Gross profit	67	64	69	76	83
	56	55	59	61	67
Operating profit (EBITDA)	11	9	10	14	16
OPM %	6.9%	5.1%	5.7%	7.4%	7%
Depreciation	4	4	3	3	3
Interest	7	7	7	8	8
	0	0	2	1	1
Profit before tax	2	-1	2	4	7
Tax	0	-0	0	1	1
Tax %	8%	-19.2%	18.9%	15.5%	20.8%
	2	-1	2	4	5
PAT margin %	1.3%	-0.3%	1%	1.9%	2.3%
EPS (₹)	—	—	—	—	—
EPS adjusted (₹)	0.3	-0.1	0.3	0.4	0.8
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	13	13	13	13	13	13
Reserves	—	339	338	340	342	347
Minority interest	—	0	—	—	0	—
	—	64	75	77	76	76
	—	111	110	100	102	106
Total equity & liabilities	—	527	536	530	533	541
	386	390	387	385	382	385
CWIP	—	0	0	0	0	0
Investments	—	7	7	8	9	10
	—	129	141	137	142	147
Total assets	—	527	536	530	533	541

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	18	3	12	10	14
	-4	-3	-3	-2	-5
	-13	-0	-5	-10	-8
Net cash flow	1	-1	4	-2	1
Free cash flow	16	-0	9	9	10
CFO / Operating profit %	164%	29.8%	114.2%	69.6%	86.9%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	42.4%	36%	38.1%	39.5%	36.6%
EBITDA margin %	6.9%	5.1%	5.7%	7.4%	7%
EBIT margin %	4.4%	2.9%	3.8%	5.7%	5.5%
PAT margin %	1.3%	-0.3%	1%	1.9%	2.3%
Working capital
Receivable days	99	104	88	95	78
Inventory days	234	197	200	212	177
Payable days	70	62	48	44	41
NWC days	263	239	241	262	213
Leverage
Current ratio	1.43	1.43	1.41	1.4	1.37
Debt to EBITDA	5.9	8.3	7.5	5.37	4.85
Debt to equity	0.18	0.21	0.22	0.21	0.21
Interest coverage	1.1	0.8	1.3	1.4	1.6
Asset turnover	0.3	0.33	0.34	0.36	0.42
Return ratios
Return on assets %	0.4%	-0.1%	0.3%	0.7%	1%
Return on capital employed %	1.7%	1.2%	2%	2.7%	3%
Return on equity %	0.6%	-0.2%	0.5%	1%	1.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.26%	71.26%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.42%	28.42%
No. of shareholders	—	—	—	—	—	—	—	—	14,763	14,474	14,284	13,955

Promoter holding up 0.14 percentage points since Sep 2023.

2 deals · 25 Mar 2025 – 25 Mar 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Mar 2025	TRANS SCAN SECURITIES PVT LTD	Bulk	BSE	Buy	3,65,000	₹33.50	₹1.22 Cr
25 Mar 2025	DPS TRADELINK PRIVATE LIMITED	Bulk	BSE	Sell	3,58,291	₹33.50	₹1.20 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. BHARAT MOHTAExecutive Director-Chairperson-MD
Mr. RAJENDRA PRASAD CHETANINon-Executive - Non Independent Director
Raj Kumar AgarwalCFO
Mr. SURENDRA BAGRINon-Executive - Independent Director
Mrs. DRISHA PODDARNon-Executive - Independent Director
Mr. SUMANT MIMANINon-Executive - Independent Director
Mr. SOUVIK HALDARNon-Executive - Independent Director
Mr. RAVI CHANDAKExecutive Director
Anup GuptaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in The Indian Wood Products Company Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

44 announcementsExport CSV

30 Sept 2026, 12:00 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 3:45 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

12 Sept 2026, 12:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

11 Sept 2026, 4:22 pmCompany Update

CORRIGENDUM TO NOTICE OF THE 106TH ANNUAL GENERAL MEETING

General PDF

11 Sept 2026, 4:19 pmAGM/EGM

CORRIGENDUM TO NOTICE OF THE 106TH ANNUAL GENERAL MEETING

AGM PDF

11 Sept 2026, 4:13 pmOthers

Board Meeting Outcome for Outcome Of 791 Meeting Of The Board Of Director

Outcome without intimation PDF

11 Sept 2026, 11:05 amInsider Trading / SAST

Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011 PDF

10 Sept 2026, 3:57 pmInsider Trading / SAST

Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011 PDF

Date	Category	Subject	Filing
30 Sept 2026, 12:00 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 3:45 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

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The Indian Wood Products Company Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Announcements

Not in the F&O segment

No fund holdings on record

9

1

1

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

The Indian Wood Products Company Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Dividends9

Board meetings1

Stock splits1

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

9

1

1