West Coast Paper Mills Limited (WSTCSTPAPR.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+2.5%

₹824.62

vs ₹804.80 price

Levered DCF

₹580.57

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	17.84×	9.19×	5.85×	3.72×	7.19×	-513.72×	2.34×	6.23×
P/B	0.74×	0.82×	1.25×	1.36×	1.31×	1.15×	0.62×	1.67×
P/S	0.63×	0.67×	0.91×	0.72×	0.65×	0.71×	0.35×	0.94×
EV / EBITDA	5.68×	4.74×	3.4×	2.17×	3.82×	8.32×	2.47×	4.16×
Gross margin	13.0%	35.0%	49.4%	58.8%	45.7%	5.9%	48.4%	47.1%
Operating margin	3.8%	25.6%	20.7%	29.8%	36.6%	1.8%	17.0%	17.5%
Net margin	3.5%	7.3%	15.6%	19.2%	9.1%	-0.1%	14.9%	15.0%
Current ratio	3.42×	3×	2.93×	2.65×	1.63×	1.33×	1.45×	1.64×
Debt / equity	0.1×	0.13×	0.09×	0.09×	0.28×	0.49×	0.56×	0.33×
Interest coverage	3.95×	28.7×	38.85×	39.75×	19.76×	0.6×	6.97×	12.92×
Dividend yield	1.4%	2.2%	2.0%	1.4%	0.5%	0.0%	9.2%	1.4%
Payout ratio	25.6%	20.5%	11.5%	5.1%	4.0%	0.0%	21.5%	8.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.2%	8.9%	21.3%	36.5%	18.2%	-0.2%	26.7%	26.8%
Return on invested capital	2.2%	17.1%	15.7%	30.3%	36.8%	0.3%	15.3%	19.4%
Return on assets	2.8%	5.6%	13.5%	22.5%	9.2%	-0.1%	11.5%	15.4%
Free cash flow yield	1.5%	-12.2%	6.0%	30.7%	23.9%	16.5%	61.7%	12.1%
Earnings yield	5.6%	10.9%	17.1%	26.9%	13.9%	-0.2%	42.8%	16.1%
Enterprise value	₹29.9B	₹32.8B	₹43B	₹37B	₹26.6B	₹22.5B	₹16.2B	₹22B
Net debt / EBITDA	0.58×	0.61×	0.2×	0.11×	0.65×	2.42×	1.15×	0.67×
Cash conversion cycle (days)	87	101	78	59	50	93	125	118