West Coast Paper Mills Limited (WSTCSTPAPR)

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West Coast Paper Mills Limited (WSTCSTPAPR) · mywealthgrid

About

West Coast Paper Mills Limited manufactures paper and paper products within the Materials sector. At ₹4,034.91 Cr market capitalisation, it operates as a mid-cap company; the presence of both standalone and consolidated figures indicates significant subsidiary operations contributing to group results.

Face value: ₹2

Market cap

₹4,802 Cr

P/E

20.2×

P/B

1.3×

Dividend yield

1.1%

ROE

4.4%

ROCE

Debt / equity

0.09

OPM

9.7%

EPS (TTM)

₹35.9

Book value

₹546.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Poor capital efficiency: ROE of 4.39% indicates weak returns on shareholder funds relative to invested capital
Volatile profit generation: OPM ranged from 6.52% to 23.04% across recent quarters, with average 9.65%, suggesting operational instability or accounting volatility
Thin margins and revenue growth mismatch: revenue jumped from ₹590.77 Cr to ₹1,051.26 Cr but profit growth lagged, indicating pricing pressure or cost inflation
Verify: revenue concentration by product and customer, raw material cost exposure, capacity utilization trends, and competitive positioning in commodity paper markets

Generated analysis · source review pending

Growth drivers

Operating margin recovered from 7.31% (Dec 2025) to 23.04% (Jun 2026 standalone)—verify if driven by pricing realization, cost control, or product mix shift
Consistent dividend payouts across 2022–2026 indicate cash generation, though low ROE (4.39%) raises questions about reinvestment value and earnings sustainability
Low leverage (D/E 0.09) provides financial capacity for growth investment—verify planned capex and target returns from deployed capital
1-year return of 22.1% reflects investor confidence recovery—verify if driven by operational improvements or broader market sentiment

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹727.7+3.4%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0.1)

Cons

−Profit declined 45.1% a year over the last 3 years

Research score

Structured signal from quality, growth, valuation and momentum.

48/100

Business quality: 31
Growth: 38
Valuation: 75

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
Kuantum Papers LimitedKUANTUMKUANTUM	₹670 Cr	₹1,530 Cr	₹1,174 Cr	₹162 Cr	14.8%	₹36 Cr	3.8%	5.4%	3.4%	77
Shree Rama Newsprint LimitedRAMANEWSRAMANEWS	₹433 Cr	₹810 Cr	₹33 Cr	₹-2 Cr	0.7%	₹-69 Cr	-209.4%	0.8%	—	-50
Orient Paper & Industries LimitedORIENTPPRORIENTPPR	₹344 Cr	₹631 Cr	₹895 Cr	₹-32 Cr	-4.2%	₹-71 Cr	-3.2%	-4.2%	-1.9%	32

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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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,493	2,245	3,378	4,921	4,448	4,062	4,279
COGS	1,199	1,173	1,696	2,042	2,135	2,447	2,723
Gross profit	1,294	1,071	1,681	2,879	2,313	1,615	1,556
	677	819	1,048	1,236	1,221	1,134	1,143
	616	253	633	1,642	1,092	481	413
OPM %	24.7%	11.3%	18.8%	33.4%	24.6%	11.8%	9.7%
Depreciation	198	229	213	189	185	210	248
Interest	75	70	59	37	24	38	42
	54	21	58	62	170	211	114
Profit before tax	397	-26	420	1,478	1,053	444	237
Tax	-9	-22	75	391	267	108	82
Tax %	-2.4%	-83.3%	17.7%	26.5%	25.4%	24.3%	34.4%
	406	-4	346	1,087	786	336	156
PAT margin %	16.3%	-0.2%	10.2%	22.1%	17.7%	8.3%	3.6%
EPS (₹)	56.1	-0.5	46.5	142.6	104.8	47.1	22.8
EPS adjusted (₹)	56.1	-0.5	46.5	142.6	104.8	47.1	23.6
	8.9%	—	12.9%	7%	7.6%	10.6%	13.2%
Annual report	Annual report for Mar 2020	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	Annual report for Mar 2026

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	13	13	13	13	13
Reserves	1,090	1,375	1,376	1,673	2,568	3,229	3,478	3,595
Minority interest	—	316	316	349	484	569	579	578
	313	623	662	446	202	251	432	313
	503	903	771	862	916	1,057	1,011	955
Total equity & liabilities	1,920	3,231	3,137	3,343	4,183	5,118	5,512	5,455
	991	2,010	1,867	1,750	1,652	1,874	2,118	2,178
CWIP	37	57	32	22	53	205	164	290
Investments	1	27	220	472	1,310	1,730	1,604	1,492
	891	1,137	1,019	1,099	1,168	1,309	1,626	1,495
Total assets	1,920	3,231	3,137	3,343	4,183	5,118	5,512	5,455

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Paper and Paper Board	3,937.08	213.97	5,058.75	1,086.52	3,972.23	5.39
Telecommunication Cables	341.64	24.49

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	51.9%	47.7%	49.8%	58.5%	52%	39.8%	36.4%
EBITDA margin %	24.7%	11.3%	18.8%	33.4%	24.6%	11.8%	9.7%
EBIT margin %	16.8%	1%	12.5%	29.5%	20.4%	6.7%	3.8%
PAT margin %	16.3%	-0.2%	10.2%	22.1%	17.7%	8.3%	3.6%
Working capital
Receivable days	21	33	26	25	21	31	33
Inventory days	167	128	85	88	117	130	108
Payable days	—	64	59	54	56	50	36
NWC days	—	98	52	58	81	112	106
Leverage
Current ratio	1.45	1.33	1.64	2.65	2.93	3	3.42
Debt to EBITDA	1.01	2.62	0.7	0.12	0.23	0.9	0.76
Debt to equity	0.45	0.48	0.26	0.08	0.08	0.12	0.09
Interest coverage	6.3	0.7	8.2	41.3	45.1	12.6	6.7
Asset turnover	0.77	0.72	1.01	1.18	0.87	0.74	0.78
Return ratios
Return on assets %	12.6%	-0.1%	10.3%	26%	15.4%	6.1%	2.9%
Return on capital employed %	18.7%	2%	19.4%	51.4%	28.1%	10.9%	6%
Return on equity %	29.3%	-0.3%	20.5%	42.1%	24.2%	9.6%	4.3%

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
	56.53%	56.53%	56.53%	56.53%	56.53%	56.53%	56.55%	56.55%	56.55%	56.55%	56.58%	56.58%
	7.8%	7.98%	8.19%	7.4%	6.17%	5.3%	4.2%	3.78%	3.31%	3.26%	3.24%	2.58%
	6.76%	6.62%	7.14%	7.2%	8.19%	9.35%	9.82%	11.73%	12.62%	12.66%	13.11%	13.63%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.91%	28.87%	28.14%	28.87%	29.11%	28.82%	29.43%	27.94%	27.52%	27.53%	27.07%	27.21%
No. of shareholders	—	—	—	—	—	—	—	—	50,839	49,345	47,196	48,063

Promoter holding up 0.05 percentage points since Sep 2023.

6 deals · 1 Aug 2022 – 2 Jul 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	4,16,362	₹735.99	₹30.64 Cr
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	4,16,362	₹735.69	₹30.63 Cr
6 Sept 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	3,59,531	₹716.56	₹25.76 Cr
6 Sept 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	3,59,531	₹716.21	₹25.75 Cr
1 Aug 2022	NAVODYA ENTERPRISES	Bulk	NSE	Buy	5,00,000	₹475.16	₹23.76 Cr
1 Aug 2022	SPV TRADERS	Bulk	NSE	Buy	3,58,509	₹476.94	₹17.10 Cr

1–6 of 6

1 / 1

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. SHREE KUMAR BANGURExecutive Director-Chairperson related to Promoter-CEO-MD
Mr. SAURABH BANGURNon-Executive - Non Independent Director
Mr. VIRENDRAA BANGURExecutive Director
Mrs. SHASHI BANGURNon-Executive - Non Independent Director
Mr. SHIV RATAN GOENKANon-Executive - Independent Director
Mr. ASHOK KUMAR GARGNon-Executive - Independent Director
Mr. VINOD BALMUKAND AGARWALANon-Executive - Independent Director
Mrs. SUDHA BHUSHANNon-Executive - Independent Director
Mr. PRAKASH RAMSWAROOP KACHOLIANon-Executive - Independent Director
Mr. RAJENDRA JAINExecutive Director
Mr. RAJESH BOTHRAChief Financial Officer

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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.

Portfolio month

Schemes holding

across 6 fund houses

Held by these funds

12.27%

of the company's equity

All mutual funds

12.91%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

8 schemes · 6 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	34.59 L	211.63	0.26%	5.241%	-0
Small Cap Fund	DSP Mutual Fund	23 L	140.71	0.65%	3.485%	-0
Parag Parikh ELSS Tax Saver Fund	PPFAS Mutual Fund	9.48 L	57.98	1.03%	1.436%	-0
Conservative Hybrid FundNEW	SBI Mutual Fund	5.81 L	35.54	0.35%	0.88%	—
RESOURCES & ENERGY FUND	Tata Mutual Fund	4.6 L	28.13	2%	0.697%	-0
Long Term Advantage Fund - Series V	SBI Mutual Fund	1.84 L	11.25	2.95%	0.279%	+33,816
Long Term Advantage Fund - Series VI	SBI Mutual Fund	1.66 L	10.13	3.86%	0.251%	+65,581
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	82	0.01	0.01%	0%	-0

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Documents

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

Announcements

Annual reports

Credit ratings

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

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Events

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

19

Final dividend10 Aug 2026 · ex-date₹3
Final dividend14 Aug 2025 · ex-date₹5
Final dividend6 Aug 2024 · ex-date₹8
Final dividend9 Aug 2023 · ex-date₹10
Final dividend8 Aug 2022 · ex-date₹6
Final dividend15 Sept 2021 · ex-date₹1
Interim dividend19 Mar 2020 · ex-date₹5
Final dividend22 Jul 2019 · ex-date₹5
Dividend dividend9 Aug 2018 · ex-date₹4
Dividend dividend16 Aug 2017 · ex-date₹2.5
Dividend dividend18 Aug 2016 · ex-date₹1
Dividend dividend15 Jul 2014 · ex-date₹1
Dividend dividend15 Jul 2013 · ex-date₹1
Dividend dividend13 Jul 2012 · ex-date₹0.2
Dividend dividend14 Jul 2011 · ex-date₹2
Dividend dividend15 Jul 2010 · ex-date₹2
Dividend dividend13 Aug 2009 · ex-date₹2
Dividend dividend13 Aug 2008 · ex-date₹3
Dividend dividend13 Sept 2007 · ex-date₹15

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

15 announcementsExport CSV

28 Sept 2026, 3:01 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	51.9%	47.7%	49.8%	58.5%	52%	39.8%	36.4%
EBITDA margin %	24.7%	11.3%	18.8%	33.4%	24.6%	11.8%	9.7%
EBIT margin %	16.8%	1%	12.5%	29.5%	20.4%	6.7%	3.8%
PAT margin %	16.3%	-0.2%	10.2%	22.1%	17.7%	8.3%	3.6%
Working capital
Receivable days	21	33	26	25	21	31	33
Inventory days	167	128	85	88	117	130	108
Payable days	—	64	59	54	56	50	36
NWC days	—	98	52	58	81	112	106
Leverage
Current ratio	1.45	1.33	1.64	2.65	2.93	3	3.42
Debt to EBITDA	1.01	2.62	0.7	0.12	0.23	0.9	0.76
Debt to equity	0.45	0.48	0.26	0.08	0.08	0.12	0.09
Interest coverage	6.3	0.7	8.2	41.3	45.1	12.6	6.7
Asset turnover	0.77	0.72	1.01	1.18	0.87	0.74	0.78
Return ratios
Return on assets %	12.6%	-0.1%	10.3%	26%	15.4%	6.1%	2.9%
Return on capital employed %	18.7%	2%	19.4%	51.4%	28.1%	10.9%	6%
Return on equity %	29.3%	-0.3%	20.5%	42.1%	24.2%	9.6%	4.3%

Date	Category	Subject	Filing
28 Sept 2026, 3:01 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
31 Aug 2026, 5:48 pm	AGM/EGM AGM	Shareholder Meeting Minutes	PDF
19 Aug 2026, 4:05 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
17 Aug 2026, 8:24 pm	Company Update General	Annual General Meeting-Update	PDF
17 Aug 2026, 8:21 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
17 Aug 2026, 8:17 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
13 Aug 2026, 6:02 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
13 Aug 2026, 5:07 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	326	394	649	338	591	1,238	764	99	400
	-139	-382	-881	-166	-289	-894	-714	-172	-188
	-194	-12	218	-167	-295	-334	-61	72	-206
Net cash flow	-6	-1	-14	5	7	10	-11	-0	7
Free cash flow	—	—	—	265	528	1,076	243	-348	20
CFO / Operating profit %	—	—	105.3%	133.7%	93.2%	75.4%	70%	20.6%	97%

West Coast Paper Mills Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Events

19

1

Announcements

19

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Others · revenue

West Coast Paper Mills Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends19

Board meetings1

Announcements

Dividends19

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Others · revenue

19

1

19

1