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Last Updated: April 2, 2026, 3:49 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: | NSE:

Western India Plywoods Ltd (WIPL): Intrinsic Value & Share Price Analysis

Fair Value

₹160.92Fairly Valued by 7.28%vs CMP ₹150.00

P/E (59.8) × ROE (6.3%) × BV (₹52.80) × DY (0.80%)

₹86.47Overvalued by 42.35%vs CMP ₹150.00
MoS: -73.5% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹216.4523%Under (+44.3%)
Graham NumberEarnings₹54.6117%Over (-63.6%)
Earnings PowerEarnings₹5.9111%Over (-96.1%)
DCFCash Flow₹34.3311%Over (-77.1%)
Net Asset ValueAssets₹51.977%Over (-65.4%)
EV/EBITDAEnterprise₹82.689%Over (-44.9%)
Earnings YieldEarnings₹25.107%Over (-83.3%)
ROCE CapitalReturns₹13.677%Over (-90.9%)
Revenue MultipleRevenue₹137.016%Fair (-8.7%)
Consensus (9 models)₹86.47100%Overvalued
Key Drivers: EPS CAGR 34.5% lifts DCF — verify sustainability. | Wide model spread (₹6–₹216) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 34.5%

*Investments are subject to market risks

Investment Snapshot

51
Western India Plywoods Ltd (WIPL) scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 8.5% AverageROE 6.3% AverageD/E 0.39 ModerateInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money35/100 · Weak
Promoter decreased by 1.42% Caution
Earnings Quality50/100 · Moderate
OPM stable around 7% Steady
Quarterly Momentum68/100 · Strong
Revenue (4Q): +6% YoY GrowingProfit (4Q): +10% YoY Positive
Industry Rank45/100 · Moderate
P/E 59.8 vs industry 41.0 In-lineROCE 8.5% vs industry 11.3% Average3Y sales CAGR: 5% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:49 am

Market Cap 127 Cr.
Current Price 150
Intrinsic Value₹86.47
High / Low 193/133
Stock P/E59.8
Book Value 52.8
Dividend Yield0.80 %
ROCE8.52 %
ROE6.32 %
Face Value 10.0
PEG Ratio1.73

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Western India Plywoods Ltd (WIPL)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Western India Plywoods Ltd (WIPL) 127 Cr. 150 193/13359.8 52.80.80 %8.52 %6.32 % 10.0
Dhabriya Polywood Ltd 349 Cr. 322 490/28012.8 1050.22 %20.4 %19.8 % 10.0
Milton Industries Ltd 85.5 Cr. 50.3 53.5/24.861.1 28.30.00 %5.01 %2.56 % 10.0
Priti International Ltd 47.4 Cr. 35.5 107/31.530.2 54.00.00 %8.58 %6.23 % 10.0
Diksha Greens Ltd 1.07 Cr. 1.08 5.30/1.04 30.60.00 %%% 10.0
Industry Average238.00 Cr95.0140.9846.750.17%11.28%8.73%10.00

All Competitor Stocks of Western India Plywoods Ltd (WIPL)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 29.1525.2723.6428.3131.7925.3024.9931.0930.8829.0629.0129.9231.45
Expenses 26.8223.5322.5226.3028.4324.7924.2029.1329.0527.0927.8529.1029.47
Operating Profit 2.331.741.122.013.360.510.791.961.831.971.160.821.98
OPM % 7.99%6.89%4.74%7.10%10.57%2.02%3.16%6.30%5.93%6.78%4.00%2.74%6.30%
Other Income 0.160.050.120.230.060.140.140.130.280.100.100.280.06
Interest 0.440.310.260.340.310.270.260.190.300.420.210.180.21
Depreciation 0.430.400.330.350.370.390.410.480.500.490.520.520.53
Profit before tax 1.621.080.651.552.74-0.010.261.421.311.160.530.401.30
Tax % 36.42%22.22%32.31%28.39%29.93%800.00%42.31%29.58%32.82%33.62%35.85%52.50%36.15%
Net Profit 1.030.840.441.111.92-0.090.151.000.880.770.340.190.83
EPS in Rs 1.211.000.611.312.26-0.110.181.181.040.910.400.220.98

Last Updated: March 3, 2026, 2:14 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 4:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 95968986921019785100108109116119
Expenses 858680829094918195100102109114
Operating Profit 101193276447776
OPM % 10%11%10%4%2%7%6%4%4%7%7%6%5%
Other Income 0004411001111
Interest 4434432211111
Depreciation 5222222322122
Profit before tax 0531-022-015543
Tax % -138%33%28%91%-8,600%46%34%71%73%31%31%32%
Net Profit 1320111-103332
EPS in Rs 1.343.842.470.291.041.451.47-0.310.574.313.983.302.51
Dividend Payout % 45%18%28%0%0%62%0%-261%142%0%30%36%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172018-20192019-20202020-20212021-20222023-20242024-2025
YoY Net Profit Growth (%)200.00%-33.33%-100.00%0.00%0.00%-200.00%100.00%0.00%0.00%
Change in YoY Net Profit Growth (%)0.00%-233.33%-66.67%100.00%0.00%-200.00%300.00%-100.00%0.00%

Western India Plywoods Ltd (WIPL) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:2%
5 Years:4%
3 Years:5%
TTM:9%
Compounded Profit Growth
10 Years:-2%
5 Years:19%
3 Years:80%
TTM:-3%
Stock Price CAGR
10 Years:%
5 Years:28%
3 Years:44%
1 Year:-20%
Return on Equity
10 Years:3%
5 Years:5%
3 Years:8%
Last Year:6%

Last Updated: September 5, 2025, 1:46 pm

Balance Sheet

Last Updated: December 4, 2025, 2:07 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 8888888888888
Reserves 25272829293131313033353736
Borrowings 39333431312722171817191820
Other Liabilities 18221722151513131011131617
Total Liabilities 90918890848174686670768082
Fixed Assets 26242324232321212020232726
CWIP 0031100013400
Investments 0000110111111
Other Assets 63676265595852464546485254
Total Assets 90918890848174686670768082

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 481254771021532
Cash from Investing Activity + -2-0-4-12-0-0-2-1-3-5-2
Cash from Financing Activity + -7-7-7-4-5-7-8-7-1-2-0-3
Net Cash Flow -50100-0-21010-3-2
Free Cash Flow 27843658112-30
CFO/OP 58%85%145%194%209%108%132%270%63%212%65%35%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-29.00-22.00-25.00-28.00-29.00-20.00-16.00-13.00-14.00-10.00-12.00-11.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 566760625559647271455966
Inventory Days 351372373387295253254204150123117145
Days Payable 586463705048495637274051
Cash Conversion Cycle 349375369379300264269220185141136161
Working Capital Days 5470715810210011412099535456
ROCE %6%12%10%3%4%7%6%2%4%11%10%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 40.98%41.01%41.01%41.00%40.79%40.79%40.79%40.79%40.79%40.79%40.79%39.37%
DIIs 4.22%3.51%3.50%3.08%3.08%3.08%2.67%2.67%2.67%2.67%2.67%2.67%
Public 54.80%55.49%55.49%55.92%56.13%56.13%56.55%56.55%56.55%56.55%56.55%57.96%
No. of Shareholders 2,0902,0361,9271,9392,0102,2522,5242,6132,5522,7552,8262,898

Shareholding Pattern Chart

No. of Shareholders

Western India Plywoods Ltd (WIPL): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 3.303.984.310.56-0.31
Diluted EPS (Rs.) 3.303.984.310.56-0.31
Cash EPS (Rs.) 5.525.696.053.162.38
Book Value[Excl.RevalReserv]/Share (Rs.) 53.4150.9848.4845.2646.37
Book Value[Incl.RevalReserv]/Share (Rs.) 53.4150.9848.4845.2646.37
Revenue From Operations / Share (Rs.) 136.69128.48127.09117.51100.19
PBDIT / Share (Rs.) 8.488.919.565.364.61
PBIT / Share (Rs.) 6.267.217.622.451.41
PBT / Share (Rs.) 4.895.825.970.90-0.48
Net Profit / Share (Rs.) 3.313.994.110.24-0.82
NP After MI And SOA / Share (Rs.) 3.303.984.310.56-0.31
PBDIT Margin (%) 6.206.937.514.564.60
PBIT Margin (%) 4.585.615.992.081.40
PBT Margin (%) 3.574.524.700.76-0.48
Net Profit Margin (%) 2.413.103.230.20-0.81
NP After MI And SOA Margin (%) 2.413.093.390.47-0.31
Return on Networth / Equity (%) 6.177.808.881.24-0.67
Return on Capital Employeed (%) 9.4810.8912.053.912.17
Return On Assets (%) 3.514.465.230.71-0.38
Long Term Debt / Equity (X) 0.180.250.260.350.36
Total Debt / Equity (X) 0.400.430.410.450.39
Asset Turnover Ratio (%) 1.491.501.581.401.13
Current Ratio (X) 2.132.372.803.323.41
Quick Ratio (X) 1.431.681.902.061.91
Inventory Turnover Ratio (X) 7.707.762.492.061.32
Dividend Payout Ratio (NP) (%) 36.3725.120.00142.370.00
Dividend Payout Ratio (CP) (%) 21.7617.590.0023.010.00
Earning Retention Ratio (%) 63.6374.880.00-42.370.00
Cash Earning Retention Ratio (%) 78.2482.410.0076.990.00
Interest Coverage Ratio (X) 6.176.395.803.472.43
Interest Coverage Ratio (Post Tax) (X) 3.413.863.501.160.56
Enterprise Value (Cr.) 162.53137.9876.3562.9162.81
EV / Net Operating Revenue (X) 1.401.270.700.630.73
EV / EBITDA (X) 22.5818.249.4113.8216.05
MarketCap / Net Operating Revenue (X) 1.321.190.670.490.59
Retention Ratios (%) 63.6274.870.00-42.370.00
Price / BV (X) 3.383.001.761.281.30
Price / Net Operating Revenue (X) 1.321.190.670.490.59
EarningsYield 0.010.020.050.01-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

The Western India Plywood Ltd. is a Public Limited Listed company incorporated on 15/01/1945 and has its registered office in the State of Kerala, India. Company's Corporate Identification Number(CIN) is L20211KL1945PLC001708 and registration number is 001708. Currently company belongs to the Industry of Plywood/Laminates. Company's Total Operating Revenue is Rs. 114.60 Cr. and Equity Capital is Rs. 8.49 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
LaminatesMill Road, Kannur Kerala 670010Contact not found
Management
NamePosition Held
Mr. P H KurianChairman
Mr. P K Mayan MohamedManaging Director
Mr. P I Sheik PareethDirector
Ms. Sreedevi PillaiDirector
Mr. Thiruvengadam ParthasarathiDirector
Mr. R HarikrishnanDirector

FAQ

What is the intrinsic value of Western India Plywoods Ltd (WIPL) and is it undervalued?

As of 16 April 2026, Western India Plywoods Ltd (WIPL)'s intrinsic value is ₹86.47, which is 42.35% lower than the current market price of ₹150.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (6.32 %), book value (₹52.8), dividend yield (0.80 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Western India Plywoods Ltd (WIPL)?

Western India Plywoods Ltd (WIPL) is trading at ₹150.00 as of 16 April 2026, with a FY2026-2027 high of ₹193 and low of ₹133. The stock is currently in the middle of its 52-week range. Market cap stands at ₹127 Cr..

How does Western India Plywoods Ltd (WIPL)'s P/E ratio compare to its industry?

Western India Plywoods Ltd (WIPL) has a P/E ratio of 59.8, which is above the industry average of 40.98. The premium over industry average may reflect growth expectations or speculative interest.

Is Western India Plywoods Ltd (WIPL) financially healthy?

Key indicators for Western India Plywoods Ltd (WIPL): ROCE of 8.52 % is on the lower side compared to the industry average of 11.28%; ROE of 6.32 % is below ideal levels (industry average: 8.73%). Dividend yield is 0.80 %.

Is Western India Plywoods Ltd (WIPL) profitable and how is the profit trend?

Western India Plywoods Ltd (WIPL) reported a net profit of ₹3 Cr in Mar 2025 on revenue of ₹116 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows an improving trend.

Does Western India Plywoods Ltd (WIPL) pay dividends?

Western India Plywoods Ltd (WIPL) has a dividend yield of 0.80 % at the current price of ₹150.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Western India Plywoods Ltd (WIPL). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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