The Western India Plywoods Limited WIPL NSEINFRA

Basic Materials · Lumber & Wood Production · India

https://www.wipltd.in

The Western India Plywoods Limited manufactures and sells hardboard, plywood, and compreg wood products in India and internationally. The company offers fire retardant and resin surfaced shuttering plywood for applications in industrial filters, and paneling and ceiling substrates in hotels, hospitals, theatres, etc.; marine plywood for boat building, and load and stress bearing industrial applications; and boiling water-resistant plywood used in furniture, structural work in interior design, auto motive coach building, and match-plates in foundries. It also provides standard hardboards for applications in automotive interior trims, shoe heel manufacture, fiber drum lid manufacture, clock backing, photo frame backing, furniture elements, partitions, etc.; oil tempered hardboards for shoe heel manufacture, automobile interior trims, and improving resistance to weathering; and perforated hardboards. In addition, the company offers densified wood laminates; soft board; pre-compressed pressboards for the high voltage and extra high voltage transformer industry; molded plywood furniture; doors; and wooden floorings under the ULTRAKILIK brand name. The Company was incorporated in 1945 and is based in Kannur, India.

Market & Price

Market Cap

₹129.43 Cr

Current Price

₹152.50

High / Low (52W)

₹174.54 / ₹141.83

Beta

-0.42

Valuation

Stock P/E

59.11

Industry PE

23.81

Forward P/E

PEG Ratio

Book Value

₹59.01

Price to Book

2.58

P/S

1.09

EV/EBITDA

49.22

Dividend Yield

0.79%

Profitability & Returns

ROCE

9.20%

ROE

1.00%

ROA

1.26%

Profit Margin

0.38%

Op Margin

-3.05%

EPS (Latest Qtr)

₹1.03

EPS (TTM)

₹2.58

Balance Sheet & Liquidity

Debt/Equity

0.21

Quick Ratio

1.06

Current Ratio

2.12

Debt

₹9.26 Cr

Total Assets

₹79.69 Cr

Current Assets

₹50.46 Cr

Working Capital

₹26.80 Cr

Ownership

Promoter Holding

Chg in Prom Hold

FII / Inst Holding

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹175.22 Cr

Total Revenue (TTM)

₹118.88 Cr

EBITDA

₹3.56 Cr

Free Cash Flow

₹5.99 Cr

Operating Cash Flow

₹6.64 Cr

Shares Outstanding

₹84.87 L

Gross Margin

59.15%

Payout Ratio

46.51%

Growth (CAGR)

Revenue 5Y

5.23%

Profit 5Y

80.40%

Revenue (YoY)

-2.70%

Earnings (YoY)

PROS

Profit CAGR of 80.4% over 5 years.
Generates positive free cash flow.

CONS

Trading at a high P/E of 59.1.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	WIPL The Western India Plywoods Limited NSEINFRA	152.50	59.11	₹129.43 Cr	0.79%	9.20%	1.00%	5.23%	80.40%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Sep 2025	Dec 2025
Revenue	31.09 Cr	30.88 Cr	28.70 Cr	29.92 Cr	31.45 Cr
Cost of Revenue	11.70 Cr	10.64 Cr	17.43 Cr	11.73 Cr	12.43 Cr
Gross Profit	19.39 Cr	20.24 Cr	11.28 Cr	18.19 Cr	19.02 Cr
Operating Expenses	17.91 Cr	18.91 Cr	9.75 Cr	17.89 Cr	17.57 Cr
Operating Income	1.48 Cr	1.33 Cr	1.53 Cr	30.00 L	1.45 Cr
EBITDA	2.09 Cr	2.11 Cr	1.91 Cr	1.10 Cr	2.04 Cr
Interest Expense	19.00 L	30.00 L	25.68 L	18.00 L	21.00 L
Pretax Income	1.42 Cr	1.31 Cr	1.16 Cr	40.00 L	1.30 Cr
Tax Provision	42.00 L	43.00 L	38.46 L	21.00 L	47.00 L
Net Income	1.00 Cr	88.00 L	76.97 L	19.00 L	83.00 L
Diluted EPS	1.14	1.05	-	0.25	1.03

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	99.25 Cr	107.47 Cr	108.61 Cr	115.66 Cr
Cost of Revenue	44.75 Cr	48.28 Cr	48.24 Cr	48.62 Cr
Gross Profit	54.50 Cr	59.18 Cr	60.37 Cr	67.05 Cr
Operating Expenses	52.66 Cr	53.35 Cr	54.70 Cr	62.33 Cr
Operating Income	1.84 Cr	5.83 Cr	5.67 Cr	4.72 Cr
EBITDA	4.49 Cr	7.95 Cr	7.40 Cr	7.04 Cr
Interest Expense	1.25 Cr	1.24 Cr	1.01 Cr	1.01 Cr
Pretax Income	76.74 L	5.07 Cr	4.94 Cr	4.15 Cr
Tax Provision	56.14 L	1.58 Cr	1.55 Cr	1.34 Cr
Net Income	47.69 L	3.66 Cr	3.38 Cr	2.80 Cr
Diluted EPS	0.56	4.31	3.98	3.30

Compounded Sales Growth

5 Years:	5.23%
1 Year:	-2.70%

Compounded Profit Growth

5 Years:	80.40%
1 Year:	-

Stock Price Performance

1 Year:	+0.03%
6 Months:	-7.31%
3 Months:	+2.71%
1 Month:	-4.71%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	66.31 Cr	69.86 Cr	75.62 Cr	79.69 Cr
Current Assets	43.67 Cr	45.26 Cr	46.20 Cr	50.46 Cr
Cash & Equivalents	2.93 Cr	12.84 Cr	10.21 Cr	7.93 Cr
Inventory	16.58 Cr	14.51 Cr	13.59 Cr	16.55 Cr
Receivables	19.53 Cr	13.35 Cr	17.63 Cr	21.08 Cr
Total Liabilities	27.90 Cr	28.71 Cr	32.45 Cr	34.41 Cr
Current Liabilities	13.16 Cr	16.19 Cr	19.46 Cr	23.66 Cr
Long Term Debt	13.45 Cr	10.88 Cr	11.00 Cr	8.57 Cr
Total Debt	17.53 Cr	17.23 Cr	18.87 Cr	18.32 Cr
Total Equity	38.33 Cr	41.20 Cr	43.27 Cr	45.33 Cr
Shares Outstanding	84.87 L	84.87 L	84.87 L	84.87 L

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	2.18 Cr	15.14 Cr	3.01 Cr	1.88 Cr
Investing Cash Flow	-1.08 Cr	-2.93 Cr	-5.12 Cr	-1.77 Cr
Financing Cash Flow	-1.18 Cr	-2.40 Cr	-37.11 L	-2.52 Cr
Capital Expenditure	-1.54 Cr	-3.27 Cr	-5.75 Cr	-1.65 Cr
Free Cash Flow	63.42 L	11.87 Cr	-2.75 Cr	23.22 L
Net Change in Cash	-8.00 L	9.81 Cr	-2.49 Cr	-2.41 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	54.9%	55.1%	55.6%	58.0%
Operating Margin %	1.8%	5.4%	5.2%	4.1%
Net Margin %	0.5%	3.4%	3.1%	2.4%
ROE %	1.2%	8.9%	7.8%	6.2%
ROCE %	3.5%	10.9%	10.1%	8.4%

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WIPL · Basic Materials