West Coast Paper Mills (WSTCSTPAPR) had a P/E of 21.2× on 6 Nov 2026, above the industry P/E of 14.0×, and the shares are 25% below their 52-week high. Sales and net profit fell 4.5% and 46% a year over 3 years, with ROCE of 5.9% and ROE of 4.2%. It carries very little debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹4,875 Cr, ranked 2nd of 43 Paper & Paper Products companies by market cap; the shares rose 85% over the past year.
- ₹825.00
- ₹825.00
- ₹719.45
- ₹831.65
- 19.2 L
Health check
- ReturnsAhead
+84.7% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 21.2 vs industry 14.0.
- GrowthShrinking
Sales −4.5%, profit −45.7% a year over 3 years.
- ProfitabilityWeak
ROCE 5.9% vs peer median 6.2%.
- Balance sheetSolid
Debt 0.08× equity, interest covered 7.0×, Piotroski 6 of 9.
- Red flags2 to check
Return on equity is low at 4.2%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹4,875 Cr
- Small cap
- P/E
- 21.2
- Industry 14.0
- Price to book
- 1.35
- Peers 1.16
- Dividend yield
- 0.41%
- ROE
- 4.2%
- Peers 6.1%
- ROCE
- 5.9%
- Peers 6.2%
- Debt to equity
- 0.08
- Debt ₹345 Cr
- EPS (TTM)
- ₹34.78
- Face value ₹2
- OPM (TTM)
- 11.5%
- Net margin 5.3%
- Sales growth
- +10.1%
- Latest quarter vs a year ago
- Profit growth
- +145.4%
- Latest quarter vs a year ago
- Price to sales
- 1.11
- EV/EBITDA 9.2
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 145.4% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 4.2%.
- P/E of 21.2 against an industry P/E of 14.0.
About West Coast Paper Mills
West Coast Paper Mills Limited manufactures and sells pulp, paper, and paper boards in India and internationally. It operates through Paper, Cables, and Others segments. The company offers printing and writing paper, machine-glazed paper and boards, security and hi-value grades paper, cup stock and coated duplex boards, business stationery products, and premium printing paper under the WESCO brand, as well as optical fibers and optical fiber cables. It is…
- Headquarters
- Kolkata
- Employees
- 2,428
- Sector
- Basic Materials
- ISIN
- INE976A01021
- Website
- westcoastpaper.com
Price range
- Avg volume (3M)
- 6 L
- 1-year return
- plus 84.7%
- From 52-week high
- minus 24.5%
Peers · Paper & Paper Products
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JKPAPERJK Paper | 368.00 | minus 0.90% | 6,673 | 18.9 | 9.2 | 6.2% | 10.1% | 0.43 | 2.8% | minus 3.9% |
| WSTCSTPAPRWest Coast Paper Mills | 738.15 | minus 11.24% | 4,875 | 21.2 | 9.7 | 5.9% | 11.5% | 0.08 | −4.5% | plus 84.7% |
| SESHAPAPERSeshasayee Paper and Boards | 216.45 | minus 0.48% | 1,365 | 11.0 | 8.5 | 4.4% | 7.0% | – | −6.3% | minus 15.5% |
| ANDHRAPAPANDHRA PAPER | 61.52 | minus 1.96% | 1,223 | 23.4 | 10.7 | 1.9% | 4.8% | 0.15 | −6.7% | minus 19.1% |
| NRAILN R Agarwal Industries | 673.00 | minus 0.25% | 1,145 | 18.4 | 10.8 | 7.7% | 9.9% | 1.01 | 6.9% | plus 43.2% |
| TNPLTamil Nadu Newsprint & Papers | 136.26 | minus 2.23% | 943 | 3.6 | 4.9 | 6.3% | 10.2% | 0.70 | −3.6% | minus 8.9% |
| PDMJEPAPERPudumjee Paper Products | 87.80 | minus 0.93% | 834 | 9.2 | 5.4 | – | 14.3% | 0.05 | 2.1% | minus 24.4% |
| EMAMIPAPEmami Paper Mills | 114.81 | minus 0.35% | 695 | 8.5 | 6.8 | 13.6% | 12.0% | 1.83 | −7.1% | plus 16.3% |
| Median of 7 peers | – | −0.90% | 1,145 | 11.0 | 8.5 | 6.2% | 10.1% | 0.56 | −3.6% | −8.9% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 955 | 1,043 | 1,050 | 1,245 | 1,051 | |
| 844 | 975 | 973 | 1,088 | 848 | |
| 110 | 68 | 76.7 | 157 | 203 | |
| 11.6% | 6.5% | 7.3% | 12.6% | 19.3% | |
| 44.7 | 22.5 | 44.6 | 3.1 | 44.7 | |
| 11 | 9.9 | 10.7 | 10.2 | 7.7 | |
| 57.8 | 61.8 | 63.4 | 65.3 | 59 | |
| 86.3 | 18.9 | 47.3 | 84.8 | 181 | |
| 30.2% | 36.9% | 37.5% | 36.3% | 21.7% | |
| 54.4 | 17.5 | 26.9 | 51.8 | 133 | |
| 8.24 | 2.65 | 4.07 | 7.85 | 20.21 |
Profit & loss
- Sales CAGR 3Y
- −4.5%
- Profit CAGR 3Y
- −45.7%
- EPS CAGR 3Y
- −45.7%
- ROE
- 4.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4,895 | 4,422 | 4,034 | 4,263 | |
| – | minus 9.7% | minus 8.8% | +5.7% | |
| 3,242 | 3,321 | 3,534 | 3,846 | |
| 1,652 | 1,101 | 500 | 417 | |
| 33.8% | 24.9% | 12.4% | 9.8% | |
| 58 | 93.9 | 96.3 | 66.3 | |
| 33.9 | 21.5 | 32.4 | 39.5 | |
| 189 | 185 | 210 | 248 | |
| −9.2 | 65.3 | 89.6 | 42 | |
| 1,478 | 1,053 | 444 | 237 | |
| 26.4% | 25.4% | 24.3% | 34.4% | |
| 942 | 692 | 311 | 151 | |
| – | minus 26.5% | minus 55.0% | minus 51.6% | |
| 142.62 | 104.77 | 47.11 | 22.80 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13.2 | 13.2 | 13.2 | 13.2 | |
| 2,568 | 3,228 | 3,478 | 3,595 | |
| 231 | 276 | 456 | 345 | |
| 1,371 | 1,600 | 1,565 | 1,502 | |
| 4,183 | 5,118 | 5,512 | 5,455 | |
| 1,419 | 1,859 | 2,074 | 2,253 | |
| 53.3 | 262 | 223 | 337 | |
| 271 | 363 | 405 | 335 | |
| 1,107 | 1,402 | 1,225 | 1,195 | |
| 1,333 | 1,232 | 1,585 | 1,335 | |
| 4,183 | 5,118 | 5,512 | 5,455 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,238 | 764 | 99.2 | 400 | |
| −894 | −714 | −172 | −188 | |
| −334 | −60.9 | 72.1 | −206 | |
| 9.9 | −10.6 | −0.2 | 6.9 | |
| −163 | −525 | −450 | −381 | |
| 1,075 | 239 | −351 | 19 | |
| −47.9 | −79.8 | −63.8 | −38.5 |
Shareholding pattern
- Promoters56.96%
- Public43.04%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 56.96% | 43.04% | plus 0.38 | |
| 30 Jun 2026 | 56.58% | 43.42% | 0.00 | |
| 31 Mar 2026 | 56.58% | 43.42% | plus 0.03 | |
| 31 Dec 2025 | 56.55% | 43.45% | 0.00 | |
| 30 Sep 2025 | 56.55% | 43.45% | – |
Major shareholders
Filings & events
News
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