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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Western India Plywoods Ltd (WIPL)

About the Company - Western India Plywoods Ltd (WIPL)

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 Decoratives - Wood/Fibre/Others. Company’s Total Operating Revenue is Rs. 98.55 Cr. and Equity Capital is Rs. 8.49 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Decoratives - Wood/Fibre/OthersMill Road, Baliapattam Kannur Kerala 670010westernply@gmail.com
http://www.wipltd.in
Management
NamePosition Held
Mr. T BalakrishnanChairman
Mr. P K Mayan MohamedManaging Director
Mr. Prasanth RagunathanDirector
Mrs. Pushya SitaramanDirector
Mrs. Radha UnniDirector
Mr. Thiruvengadam ParthasarathiDirector

The Western India Plywood Ltd. Share Price Update

Share PriceValue
Today₹178.50
Previous Day₹181.50

Basic Stock Data of Western India Plywoods Ltd (WIPL)

Market Cap 154 Cr.
Current Price 182
High / Low195/75.3
Stock P/E35.8
Book Value 49.1
Dividend Yield0.55 %
ROCE11.4 %
ROE8.78 %
Face Value 10.0

Data Source: screener.in

Competitors of Western India Plywoods Ltd (WIPL)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Marvel Decor Ltd 150 Cr. 88.099.4/29.049.6 28.80.00 %6.92 %4.41 % 10.0
Priti International Ltd 258 Cr. 197300/13724.7 38.60.00 %31.9 %23.6 % 10.0
Industry Average204 Cr142.537.1533.70%19.41%14.01%10

Western India Plywoods Ltd (WIPL) Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales21.7026.6025.6619.4626.7226.6026.9524.6828.7629.1525.2723.6428.31
Expenses20.4425.1224.7619.5325.3624.9925.6322.9927.1126.8223.5322.5226.30
Operating Profit1.261.480.90-0.071.361.611.321.691.652.331.741.122.01
OPM %5.81%5.56%3.51%-0.36%5.09%6.05%4.90%6.85%5.74%7.99%6.89%4.74%7.10%
Other Income0.060.020.100.060.070.100.090.230.260.160.050.120.23
Interest0.420.350.440.350.320.300.340.310.340.440.310.260.34
Depreciation0.620.640.900.690.700.490.590.400.410.430.400.330.35
Profit before tax0.280.51-0.34-1.050.410.920.481.211.161.621.080.651.55
Tax %60.71%33.33%-29.41%19.05%41.46%40.22%45.83%28.93%34.48%36.42%22.22%32.31%28.39%
Net Profit0.110.34-0.44-0.850.240.550.260.860.761.030.840.441.11
EPS in Rs0.250.53-0.29-0.930.350.650.311.010.901.211.000.611.25

Western India Plywoods Ltd (WIPL) Quarterly Chart

Western India Plywoods Ltd (WIPL) Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales938995968986921019785100108106
Expenses787985868082909491819510099
Operating Profit15101011932764477
OPM %16%11%10%11%10%4%2%7%6%4%4%7%7%
Other Income0100044110011
Interest3444344322111
Depreciation5552222223222
Profit before tax710531-022-0155
Tax %13%78%-138%33%28%91%8,600%46%34%-71%73%31%
Net Profit601320111-1033
EPS in Rs6.980.571.343.842.470.291.041.451.47-0.310.574.314.07
Dividend Payout %17%106%45%18%28%0%0%62%0%-261%142%23%

Western India Plywoods Ltd (WIPL) Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132014-20152015-20162016-20172018-20192019-20202020-20212021-2022
YoY Net Profit Growth (%)-100.00%200.00%-33.33%-100.00%0.00%0.00%-200.00%100.00%
Change in YoY Net Profit Growth (%)0.00%300.00%-233.33%-66.67%100.00%0.00%-200.00%300.00%

Western India Plywoods Ltd (WIPL) Growth

Compounded Sales Growth
10 Years:2%
5 Years:3%
3 Years:4%
TTM:0%
Compounded Profit Growth
10 Years:30%
5 Years:70%
3 Years:47%
TTM:48%
Stock Price CAGR
10 Years:%
5 Years:12%
3 Years:53%
1 Year:109%
Return on Equity
10 Years:3%
5 Years:3%
3 Years:3%
Last Year:9%

Western India Plywoods Ltd (WIPL) Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital8888888888888
Reserves25252527282929313131303333
Preference Capital222220000000
Borrowings33393731323131272217181716
Other Liabilities26252024192215151313101114
Total Liabilities93979091889084817468667072
Fixed Assets30302624232423232121202020
CWIP0000311000133
Investments0000001101111
Other Assets63676367626559585246454648
Total Assets93979091889084817468667072

Western India Plywoods Ltd (WIPL) Reserves and Borrowings Chart

Western India Plywoods Ltd (WIPL) Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1254812547710215
Cash from Investing Activity -3-3-2-0-4-12-0-0-2-1-3
Cash from Financing Activity -18-1-7-7-7-4-5-7-8-7-1-2
Net Cash Flow-91-50100-0-21010

Western India Plywoods Ltd (WIPL) Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days556556676062555964727145
Inventory Days342358351372373387295253254204150123
Days Payable897558646370504849563727
Cash Conversion Cycle308348349375369379300264269220185141
Working Capital Days13714115615915715914713413213011374
ROCE %14%8%6%12%10%3%4%7%6%2%4%11%

Western India Plywoods Ltd (WIPL) Financial Efficiency Indicators Chart

No data available for the Shareholding

No data available for the Shareholding Pattern chart.

No data available for the No. of Shareholders chart.

This stock is not held by any mutual fund

Western India Plywoods Ltd (WIPL) ROCE Trend

Western India Plywoods Ltd (WIPL) EPS Trend

Western India Plywoods Ltd (WIPL) Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)4.310.56-0.311.471.20
Diluted EPS (Rs.)4.310.56-0.311.471.20
Cash EPS (Rs.)6.053.162.384.264.14
Book Value[Excl.RevalReserv]/Share (Rs.)48.4845.2646.3747.1347.24
Book Value[Incl.RevalReserv]/Share (Rs.)48.4845.2646.3747.1347.24
Revenue From Operations / Share (Rs.)127.09117.51100.19114.46119.37
PBDIT / Share (Rs.)9.565.364.617.598.64
PBIT / Share (Rs.)7.622.451.414.715.71
PBT / Share (Rs.)5.970.90-0.482.092.24
Net Profit / Share (Rs.)4.110.24-0.821.391.21
NP After MI And SOA / Share (Rs.)4.310.56-0.311.481.44
PBDIT Margin (%)7.514.564.606.637.24
PBIT Margin (%)5.992.081.404.114.77
PBT Margin (%)4.700.76-0.481.821.87
Net Profit Margin (%)3.230.20-0.811.211.01
NP After MI And SOA Margin (%)3.390.47-0.311.291.20
Return on Networth / Equity (%)8.881.24-0.673.193.11
Return on Capital Employeed (%)12.053.912.177.038.41
Return On Assets (%)5.230.71-0.381.681.51
Long Term Debt / Equity (X)0.260.350.360.380.39
Total Debt / Equity (X)0.410.450.390.500.63
Asset Turnover Ratio (%)1.581.401.131.161.17
Current Ratio (X)2.803.323.412.912.41
Quick Ratio (X)1.902.061.911.401.14
Inventory Turnover Ratio (X)2.492.061.321.241.26
Dividend Payout Ratio (NP) (%)0.00142.370.0073.380.00
Dividend Payout Ratio (CP) (%)0.0023.010.0024.890.00
Earning Retention Ratio (%)0.00-42.370.0026.620.00
Cash Earning Retention Ratio (%)0.0076.990.0075.110.00
Interest Coverage Ratio (X)5.803.472.432.902.49
Interest Coverage Ratio (Post Tax) (X)3.501.160.561.531.35
Enterprise Value (Cr.)76.3562.9162.8153.7997.86
EV / Net Operating Revenue (X)0.700.630.730.550.96
EV / EBITDA (X)9.4113.8216.058.3513.34
MarketCap / Net Operating Revenue (X)0.670.490.590.370.76
Retention Ratios (%)0.00-42.370.0026.610.00
Price / BV (X)1.761.281.300.931.97
Price / Net Operating Revenue (X)0.670.490.590.370.76
EarningsYield0.050.01-0.010.030.01

Western India Plywoods Ltd (WIPL) Profitability Ratios (%)

Western India Plywoods Ltd (WIPL) Liquidity Ratios

Western India Plywoods Ltd (WIPL) Liquidity Ratios (%)

Western India Plywoods Ltd (WIPL) Interest Coverage Ratios (X)

Western India Plywoods Ltd (WIPL) Valuation Ratios

Fair Value / Intrinsic Value of Western India Plywoods Ltd (WIPL)

Fair Value: ₹155.18

The stock is overvalued by 14.74% compared to the current price ₹182

*Investments are subject to market risks

Strength and Weakness of Western India Plywoods Ltd (WIPL)

StrengthWeakness
  1. The company has higher reserves (29.00 cr) compared to borrowings (0.77 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (95.15 cr) and profit (2.46 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 4.38 and average Dividend Yield of 3.67%.
  2. The stock has a low average ROCE of 7.25%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 136.58, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 292.25, which may not be favorable.

Should I Buy Western India Plywoods Ltd (WIPL) Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Western India Plywoods Ltd (WIPL):
    1. Net Profit Margin: 3.23%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.05% (Industry Average ROCE: 19.41%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 3.50
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 1.90
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 35.8 (Industry average Stock P/E: 35.5)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.41
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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