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Western India Plywoods Ltd.
(WIPL)
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Rating:49Neutral
Price Target:
₹167.00
▲(2.55% Upside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by deteriorating profitability and volatile cash generation, alongside a very expensive valuation (extremely high P/E and low yield). These negatives are only partly offset by a healthier balance sheet with improving leverage and largely neutral technical indicators.
Positive Factors
Improving balance sheet
Lower leverage gives WIPL greater financial flexibility and reduces debt-servicing risk. A more conservative capital structure can help the company withstand cyclical wood-product demand and margin pressure over the medium term.
Negative Factors
Severe margin compression
The sustained decline in gross and net margins indicates weaker pricing power, higher input costs, or poorer operating leverage. With profitability now very thin, even modest pressure on timber, resin, energy, or demand could materially affect earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving balance sheet
Lower leverage gives WIPL greater financial flexibility and reduces debt-servicing risk. A more conservative capital structure can help the company withstand cyclical wood-product demand and margin pressure over the medium term.
Read all positive factors
Western India Plywoods Ltd. (WIPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.40B
Dividend Yield0.71%
Average Volume (3M)1.95K
Price to Earnings (P/E)1059.9
Beta (1Y)0.59
Revenue Growth-3.07%
EPS Growth-103.41%
CountryIN
Employees191
SectorGeneral
Sector StrengthN/A
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)0.16
Shares Outstanding8,487,340
10 Day Avg. Volume862
30 Day Avg. Volume1,945
Financial Highlights & Ratios
PEG Ratio-2.27
Price to Book (P/B)1.69
Price to Sales (P/S)0.64
P/FCF Ratio18.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Western India Plywoods Ltd. Business Overview & Revenue Model
Company Description
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, a...
How the Company Makes Money
WIPL makes money primarily by manufacturing wood-based products and selling them to customers through trade (dealer/distributor) channels and, where applicable, institutional/project buyers. Its revenue model is product-sales driven: (1) Sales of ...
Western India Plywoods Ltd. Financial Statement Overview
Summary
Income Statement
50
Neutral
Balance Sheet
68
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.16B | 1.19B | 1.16B | 1.09B | 1.08B | 992.50M |
| Gross Profit | 543.10M | 494.40M | 539.50M | 603.69M | 648.00M | 544.97M |
| EBITDA | 31.00M | 44.10M | 72.00M | 73.96M | 81.12M | 44.88M |
| Net Income | -1.00M | 4.50M | 28.00M | 33.78M | 34.90M | 4.77M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 711.20M | 796.90M | 756.20M | 698.60M | 663.12M |
| Cash, Cash Equivalents and Short-Term Investments | 29.70M | 29.70M | 88.80M | 102.06M | 128.42M | 29.29M |
| Total Debt | 0.00 | 92.60M | 183.20M | 188.80M | 172.30M | 175.33M |
| Total Liabilities | -444.40M | 266.80M | 344.00M | 324.60M | 287.10M | 279.02M |
| Stockholders Equity | 444.40M | 447.50M | 453.40M | 432.67M | 412.00M | 383.30M |
Cash Flow | ||||||
| Free Cash Flow | 35.30M | 40.60M | -8.10M | -27.46M | 119.70M | 6.34M |
| Operating Cash Flow | 41.80M | 59.20M | 8.40M | 30.10M | 151.30M | 21.76M |
| Investing Cash Flow | -16.80M | -25.70M | -17.71M | -51.23M | -29.30M | -10.77M |
| Financing Cash Flow | 10.70M | -97.60M | -25.24M | -3.70M | -24.00M | -11.79M |
Western India Plywoods Ltd. Technical Analysis
Negative
162.84
Price Trends
167.81
Negative
161.95
Positive
156.88
Positive
Market Momentum
-0.20
Negative
47.40
Neutral
62.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WIPL, the sentiment is Negative. The current price of 162.84 is below the 20-day moving average (MA) of 165.89, below the 50-day MA of 167.81, and above the 200-day MA of 156.88, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 47.40 is Neutral, neither overbought nor oversold. The STOCH value of 62.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WIPL.
Western India Plywoods Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | ₹2.01B | 15.54 | ― | 2.87% | 20.53% | ― | |
57 Neutral | ₹37.10B | 36.66 | ― | 0.17% | 14.32% | 13.11% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹1.40B | 1,059.88 | ― | 0.71% | -3.07% | -103.41% | |
48 Neutral | ₹162.90B | 54.78 | ― | 0.14% | 23.39% | 43.60% | |
46 Neutral | ₹19.59B | 279.27 | ― | 0.33% | 11.58% | -69.11% | |
44 Neutral | ₹1.31B | -92.81 | ― | ― | 12.14% | -129.35% |
* General Sector Average
IN:WIPL
Western India Plywoods Ltd.
169.58
3.72
2.24%
IN:ARCHIDPLY
Archidply Industries Limited
102.60
0.37
0.36%
IN:CENTURYPLY
Century Plyboards (India) Ltd.
717.90
-95.50
-11.74%
IN:GREENPANEL
Greenpanel Industries Ltd
153.45
-159.49
-50.96%
IN:GREENPLY
Greenply Industries Ltd
289.45
-28.59
-8.99%
IN:MAGNUM
Magnum Ventures Limited.
18.78
-9.86
-34.43%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.