West Coast Paper Mills Limited has informed the Exchange about Investor Presentation
ZZQ:BM:169:SHARE:07: June 16, 2023
To:
To:
BSE Limited Corporate Services Floor 25, P.J.Towers, Dalal Street MUMBAI – 400 001
Dear Sirs,
National Stock Exchange of India Ltd. Listing Department Exchange Plaza Bandra-Kurla Complex, Bandra [East] MUMBAI-400 051
Sub: Updated Investor Presentation Ref:1) Our letter No. ZZQ:BM:36:SHARE:07 dated 06.03.2023.
2) Our letter No. ZZQ:BMN:158:SHARE:07: dated :20.05.2023
With reference to above our letters, we enclose herewith Updated Investor Presentation for
Key Highlights, Industry Dynamics & Core Business Strategy, Environmental Social
Governance, Way Forward and Financial Highlights etc.
Please take the same on record.
Thanking you,
Yours faithfully, For WEST COAST PAPER MILLS LTD.
BRAJMOHAN PRASAD COMPANY SECRETARY M.NO.F7492
Encl : a.a.
Investor Presentation | Q4 & FY23
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by West Coast Paper Mills Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the Company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.
All Maps used in the Presentation are not to scale. All data, information and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness.
West Coast Paper Mills Ltd
2
About West Coast Paper Mills
West Coast Paper Mills Limited (WCPM) is one of the oldest and the largest producers of paper for printing, writing, and packaging in India
WCPM enjoys a pedigree of standing over the past 68 years. The company's vision in constant upgradation of its process and technology to offer uniform quality of customized products, the "wood to paper" process mastery and product research have enabled the mill to produce a wide portfolio of wood free papers and boards of highest quality
MISSION To attain customer loyalty by providing the highest standards of quality products suitable for various business segments and for all age groups across India and the world
To focus on innovative production processes through constant research and development as well as to use a raw material and technology that is environment friendly and that further caters to the interests of the future generations
VISION To excel in serving the demands of paper and paper products worldwide
West Coast Paper Mills Ltd
3
Key Highlights: Pulp to Paper Excellence
1955
22+
Countries
3,20,000
MTPA
Established in
Countries
Manufacturing capacity
4,000
70+
Employee Strength
Our Distribution Network
Certifications
ISO 9001-2015 QMS ISO 14001-2015 EMS ISO 45001-2018 OH & SMS
West Coast Paper Mills Ltd
4
A Look Back at Our Company's History
1995 : Installed 1.05 MW wind power
mill
1996: Started telecom cables
business
1996: Installed duplex board machine (PM 4) taking total capacity to 1,19,750 TPA
2008 : Production capacity increased
to 1,80,000 TPA
2009 : Raised INR 855 crores via
Preference shares, non- convertible debentures and term loans
2010 : Expansion program to increase
capacity from 1,80,000 TPA to 320,000 TPA (PM 6) with a capex of INR 1,450 crs
2019: Applied for permission from
pollution control board to increase production to 450,000 TPA in existing plant 2019: Incurred additional capex of
~160 crores on up gradation of machinery
2020: Announced acquisition of
International Paper APPM in May 2019
1955
1995
2001
2008
2016- 2018
2019- 2020
2021- 2023
1955 : WCPM was established and
the government agreed to provide bamboo for 30 years at concessional rate 1959 : Set up 18,000 TPA paper
capacity (PM 1)
1964 : Further increased capacity to
45,000 TPA (PM 2)
1972 : Capacity enhanced to 60,000
TPA (PM 3)
West Coast Paper Mills Ltd
2001 : Expanded optical fiber cables capacity to 83,500 kms 2002 : Capacity enhanced to 1,57,750 TPA (addition of PM 5 - Duplex Board)
2004 : Capacity increased to 163,750 TPA by rebuilding PM 1
2005 : Commissioned 15.5 MW
Turbine, replacing 11.84 MW furnace oil-based generators
2017 : Crossed milestone of INR 1,800 crores revenue from operations
2017: Continued focus on reduction
in input cost
2018 : Incurred capex of ~Rs 150 cr towards up gradation of existing paper machines and increase in pulp mill capacity
2021 – 2023 :
Incurred capex of ~ INR 123 crores through internal accrual
2023 : Achieved record Standalone
Sales of ~INR 2800 Crores and Consolidated Sales of ~INR 4900 Crores
5
Many Firsts to Our Credit
1
3
5
7
9
First in Asia to install twin-wire Papriformer paper machine
First to use synthetic wire on paper machine in India
First in India to install Drum Chipper, Disk Refiners, Rotary Limekiln, 500 TPD Solids Firing Chemical Recovery Boiler & FBC Coal-fired Boiler
First to establish and use sulphuric acid in India as a protective agent in conventional bleaching
First in India to use 100% hardwood, replacing bamboo
11
First company in India that had successfully established a well-equipped Research Centre attached with a Paper Mill
2
4
6
8
10
12
First to introduce captive plantations in India
First in India to introduce a chemical recovery boiler of 1100 TPD Solids Firing per day capacity
Installed and commissioned Single Largest BD Bleached Pulp Plant of capacity 725 TPD
Installed & commissioned state of the art Paper Machine No. 6 with a capacity of 500 TPD
Installed 34.5 MW TG Set in the year 2010 and now the Total Captive Power Plant Capacity is 74.8MW
Expertise in effectively incorporating upto 50% imported hardwood chips from South Africa & Australia in the pulp manufacturing process, if required
West Coast Paper Mills Ltd
6
APL Acquisition: Consolidation of Leadership Position
West Coast Paper Mills
Andhra Paper
Installed Capacity – 3,20,000 Mtpa
Installed Capacity – 2,40,000 Mtpa
Sales Volume – 3,10,349 Mtpa
Sales Volume – 2,50,238 Mtpa
Revenue – ₹ 2,810 Crores
EBITDA – ₹ 948 Crores
PAT – ₹ 587 Crores
Revenue – ₹ 2,098 Crores
EBITDA – ₹ 787 Crores
PAT – ₹ 522 Crores
COST EFFECTIVE ACQUISITION + COST SYNERGIES = MARKET LEADERSHIP + STRENGTHENING OF BRAND + EPS ACCRETIVE
West Coast Paper Mills Ltd
Note: Standalone Numbers; Data for FY2023
7
About Andhra Paper Limited
Andhra Paper Limited, one of the largest integrated paper and pulp manufacturers in Andhra Pradesh & India was established in 1964 with a production capacity of 240,000 TPA of Paper and 181,500 TPA of Virgin Pulp. It is the only Paper Mill using virgin pulp in AP
APL has presence in all segments of Papers viz; Writing, Printing, Industrial & Copier papers with an export share of ~20% earnings in foreign exchange. West Coast Paper Mills Limited acquired 72.2% stake in Andhra Paper Limited in 2019. With this acquisition, the company is on a transformational journey to further consolidate its leadership position in the Indian Paper Sector
The organization has declared a capital expenditure of around ₹450 crores for upgrading its current equipment, aiming to enhance operational efficiency. This investment is expected to bring about significant improvements in the company's operations, streamlining processes and increasing productivity. By modernizing its machinery, the company is positioning itself for long-term growth and competitiveness in the market
Ownership Structure
Key Financial Highlights for Q4FY23:
72%
28%
WCPM
Public
West Coast Paper Mills Ltd
Revenue (₹ in Crs)
EBITDA & EBITDA Margin
PAT & PAT Margin
+39%
590
426
19.2%
38.7%
13.5%
26.1%
+179%
229
+170%
154
82
57
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Note: Rounded off to the nearest whole number
8
Business Diversification via Optical Fibre Cable Manufacturing
About Cable Business
Product Portfolio
•
•
•
The company under its cable division – ‘West Coast Optilinks’, operates a State of the art manufacturing facility in a Hi-Tech Electronics zone at Mysuru
The cable division of the company is being headed by Mr. Pramod Srivastav, having 34 years of experience in the sector
The division contributes ~7% to the total sales with an EBIT Margin of ~8%
1. OPTICAL FIBER CABLES
2. FRP RODS
3. GLASS FIBER ROVING
FY23 Production: 72,246 Kms of cables
Revenue Break-up
Key Financials
Paper Business
93.0%
Revenues : ₹ 195 Crs
Cable Business
7.0%
EBIT : ₹ 15 Crs
West Coast Paper Mills Ltd
Note: Rounded off to the nearest whole number; Standalone Numbers for FY2023
9
Experienced Board of Directors
SHRI S.K. BANGUR Chairman & Managing Director
SMT. SHASHI DEVI BANGUR Director
SHRI VIRENDRAA BANGUR Joint Managing Director
He is a well-respected industrialist who serves as the Chairman and Managing Director of West Coast Paper Mills Ltd & Andhra Paper Ltd., which is part of the Bangur Group of Companies. He is a visionary leader who has made a significant impact in the business world. Aside from his business achievements, he is also known for his philanthropic work and is associated with a number of charitable organizations.
She is a prominent member of the renowned Bangur family and serves as a Non-Executive Director of West Coast Paper Mills Ltd. She has a diverse portfolio of responsibilities and holds positions as a Director in several companies. Her experience and expertise in the business world make her a valuable asset to the companies she is associated with. Her presence in these organizations is a testament to her knowledge, leadership skills, and dedication to excellence.
With extensive industrial and corporate experience, has excelled across diverse sectors including optic fibre, paper, chemicals, IT, electronics, and plantations. His strategic leadership and deep understanding of the optic fibre cable industry, coupled with his valuable expertise in the paper industry, have elevated the company to a prominent position in the market.
SHRI SAURABH BANGUR Vice Chairman
SHRI RAJENDRA JAIN Executive Director
He is a highly accomplished business leader and member of the prominent Bangur family. He also holds a key position as Joint Managing Director on the Andhra Paper Limited, further solidifying his reputation as a successful and experienced business executive. With his diverse background and experience, he continues to be a valuable asset to the companies he is involved in.
A qualified Chartered Accountant and Company Secretary. Mr Jain has hands-on experience in various aspects of business operations including and strategic continuous improvement. His expertise is a valuable asset to the company.
planning, manufacturing,
financial management,
West Coast Paper Mills Ltd
10
Experienced Board of Directors
SHRI SUDARSHAN SOMANI Director
SMT. SUDHA G. BHUSHAN Director
SHRI SHIV RATAN GOENKA Director
With more than 30 years of experience, he has worked in both London and Dubai, actively trading in India and other countries. He has extensive experience in both soft and hard commodities, specializing in non-ferrous metals and ores, agricultural products, and waste papers.
A highly respected Finance professional and co-founder of Taxpert Professionals, a versatile consulting firm catering to multinational clients worldwide. An advisor to Bank of Baroda, providing strategic guidance on NRI and international operations & advisory services to multiple multinational companies, including fortune 50 companies. She is empanelled with various banks, including HDFC Bank. She is a CS, a CA, an Insolvency Resolution Professional, and a Registered Valuer with IBBI.
As Chairman and Managing Director of Bengal Beverages Private Limited, which is part of the Goenka Group of Companies, he is overseen by a board of directors. A visionary and highly regarded industrialist, Shri S.R. Goenka belongs to the renowned Goenka family, which is well known for its philanthropic endeavors.
SHRI ASHOK KUMAR GARG Director
With over 39 years of diverse banking experience, he is a former Executive Director of Bank of Baroda and is currently affiliated with several well-known companies that provide financial services.
SHRI VINOD B. AGARWALA Director
SMT. ARPITA VINAY Director
As a lawyer, he is an Advocate on Record at the Supreme Court of India, a Solicitor at the High Court of Bombay, and a Solicitor in England and Wales. He boasts a wealth of legal and leadership experience spanning over five decades.
With over 18 years of experience in financial services, encompassing wealth management and private banking, she was part of the core team that established Centrum Wealth Management. She holds a degree in electrical engineering and an MBA in finance from the Faculty of Management Studies (FMS) in Delhi.
West Coast Paper Mills Ltd
11
Dynamic Management Team
Paper & Paper Board Division
Cable Division
SHRI. PRAMOD SRIVASTAV CEO – Cable Division
With a background in the telecommunications industry and a focus on optic fibers and optical cable, he has built a highly successful career with 34 years of expertise. His extensive experience has allowed him to gain a deep understanding of the industry and its trends enabling them to stay ahead of the curve and provide valuable insights to the company.
SHRI. RAJESH BOTHRA Chief Financial Officer
treasury
A qualified CA professional with over 34 years of expertise in finance, taxation, and successfully navigate complex financial situations and provide valuable insights to the organization.
and
to
SHRI. ANUJ TAYAL Sr. VP - Technical
an
(Chemical Engineer),
this A B.Tech. individual boasts impressive 4 decades of experience in the industry. His expertise has been recognized through their authorship of several articles for the IPPTA
SHRI RAJENDRA JAIN Executive Director
A qualified Chartered Accountant and Company Secretary. Mr Jain has hands-on experience in various aspects of business operations including strategic planning, manufacturing, financial management, and continuous improvement. His expertise is a valuable asset to the company.
SHRI. ASHOK KUMAR SHARMA Sr. VP - Finance & Accounts
A qualified CA professional with ample years of experience and having deep understanding of financial management and accounting practices providing valuable insights and drive successful outcomes for the company.
SHRI. P. C. MALOO Sr. VP - Marketing
A law graduate with ACS and ACMA qualifications and over 3 decades of experience in sales and marketing bringing in invaluable expertise.
West Coast Paper Mills Ltd
12
Industry Dynamics in Our Favour
Paper Industry & Consumption
INDIAN PAPER MARKET CONSUMPTION
RISING PRODUCTION OF PAPER INDUSTRY
Newsprint 10%
Specialty paper (Tissue paper and others) 10%
Writing & Printing Paper (coated and uncoated) 25%
Source: IPMA
West Coast Paper Mills Ltd
22
20
10.11
4.87
1 0 0 2 - 0 0 0 2
1 1 0 2 - 0 1 0 2
2 2 - 1 2 0 2
5 2 - 4 2 0 2
Packaging: Carton Boards & Container Boards (Corrugated Boards) 55%
0.11
0.34
1 5 - 0 5 9 1
1 6 - 0 6 9 1
0.75
1 7 - 0 7 9 1
1.1
1 8 - 0 8 9 1
2.43
1 9 - 0 9 9 1
(In Million Tonnes Per Annum (MTPA), Source: SAMCO/IPMA
14
Paper Industry & Consumption
Growth is primarily driven by paper-based packaging:- Packaging industry is thriving, with paper packaging (paperboard and kraft paper) accounting for more than half of paper production and growing at a 7-8% CAGR due to the rise in e-commerce, domestic pharmaceutical demand, and consumer durable sales.
India, Net Exporter for Two Consecutive Years, Excluding Newsprint:- India's paper exports surged in FY22, growing four times in five years, driven by coated paper, paperboards, uncoated writing/printing paper, and tissue paper. The Indian Paper Manufacturers Association (IPMA) attributed the 80% rise in the value of paper exports to capacity expansion and improved quality of exported kraft paper, reaching an all-time high.
Investments by Indian Companies:- Companies invested over ₹25,000 crore for global expansion in the last 5-7 years. Newsprint needs quality improvement to meet global standards. Imports from Canada and Russia make up 68% of the 2.2 MTPA total consumption. Major investments were seen over the past to increase capacity by leading companies.
FOUR-FOLD JUMP IN EXPORTS THOUSAND TONNES
PAPER & PAPERBOARD EXPORTS
INDIA’S EXPORTS & IMPORTS OF PAPER, PAPERBOARD & NEWSPRINT
522
530
655
2010-11
2013-14
2016-17
2019-20
2020-21
2021-22
1646
2191
2010-11
1992
2739
3041
2013-14
2016-17
2019-20
2020-21
6751
7824
2850
2021-22
13963
3500
3000
2500
2000
1500
1000
500
0
2610
2347
2200
2126
1785
533 513
508
534
624
656
660
3168
2991
1495
978
2194
2857
1752
-
1 1 0 1 0 2
-
2 1 1 1 0 2
-
4 1 3 1 0 2
-
5 1 4 1 0 2
-
6 1 5 1 0 2
-
7 1 6 1 0 2
-
8 1 7 1 0 2
-
9 1 8 1 0 2
-
0 2 9 1 0 2
-
1 2 0 2 0 2
-
2 2 1 2 0 2
Import
Export
Source:- DGCI&S
(in ₹ crore) Source:- DGCI&S
(in Thousand Tonnes) Source:- DGCI&S/IPMA
West Coast Paper Mills Ltd
15
Industry Dynamics - Consolidation is Inevitable
India is Fastest Growing Paper Market in the World
Higher environmental concerns leading & to awareness, plastic with substitution of paper products
Source: ICRA, Investec, IPMA
West Coast Paper Mills Ltd
increasing Rising literacy rates, number and universities in the country and higher student enrolments
schools
of
proportion
urbanisation rising
coupled Rapid with of organised retail and increasing preference for ready-to-eat food products
Increasing GDP, rising per capita income & expenditure consequently leading to increase in per capita consumption of paper
Consolidation in the Industry is Inevitable 2 out of 3 paper mills in India have already been closed [As per IPMA]
High Capital Intensity
Economies of Scale
Technology Upgradation
Cost of Environmental Compliance
Threat from Imports
Advent of GST
Industry Acquisition
GROWTH IN DEMAND
MARKET SHARE GAIN
16
Investment Proposition
Integrated pulp mill with ample water and power
Expect favorable paper cycle to sustain profitability
Pan India Presence for Marketing
Multiple product offerings with a focus on higher margin products
Strong Balance Sheet
Promoter steadily increasing stake in the company
Strong Credit Rating
Y
• Operates a 725 tpd integrated pulp mill in Dandeli, Karnataka with 74.8 MW captive power and year-round water access from the Kali River
• The region receives rainfall, 150-200
ample averaging cm
West Coast Paper Mills Ltd
strong
cycle India
paper Expect to realization persist and in support elevated margins for profitable companies with varying levels backward of integration
larger,
WCPM offers multiple variants in Writing & Printing, Packaging and Value-added products to commercial and premium segments and focuses margin on to products, improved realizations
leading
higher
• WCPM boasts a wide network distribution with dealers 70+ across India and 6 zonal offices in major cities, ensuring efficient product and service reach to end- users
• 75% of dealers have been the with company for over 15 years
• WCPM has free cash flow, resulting in a low Net Debt/Equity of 0.26x
• With average annual Free Cash Flow of over - ₹200cr in the the past 5 well- company fund positioned future expansion and seeks geographical expansion opportunities
years, is to
• The
promoter
has steadily increased their shareholding in from company the 52.4% in to 56.5% in FY23
FY12
• They provided capital of injections ₹472.5mn for expansion in FY11 and ₹179mn reduce to debt in FY13
Long Term IND AA /Stable and Short-Term IND A1+
17
Core Business Strategy
Bring strategic alignment Setting up clear and coherent goals based on sound market analysis and future aspirations and aligning the organisation with these goals.
01
10
Digital Transformation Adopting new technologies and processes to improve operations, enhance customer experiences, and drive growth.
Achieve operational efficiencies Improve key operational indicators such as process changeovers, waste generation, overall equipment efficiency (OEE), and shop floor management practices.
02
09
Market expansion Entering new markets, either domestically or internationally, to increase sales and reach new customers.
Pursue strategic sourcing Strategic sourcing of raw materials to reduce cost and achieving performance excellence.
03
08
Customer focus Building strong relationships with customers through quality products and excellent customer service.
Improve Sales and channel management Evaluation of existing sales channels and making changes to optimize their efficiency and effectiveness.
04
07
Innovation Developing new and innovative paper products to stay ahead of the competition.
Cost optimization Implementing cost-saving measures such as using efficient production processes and reducing waste.
05
06
Sustainability Implementing environmentally friendly practices in production and promoting eco-friendly paper products.
West Coast Paper Mills Ltd
18
What Sets Us Apart
Wesco Brand Created – Premium Paper Brand
Exclusive range crafted especially for the hi-tech business
Participated in Expo
Finest Range of premium office paper of International standards, Tailor-made to suit all kinds of high-end office printers
B2B: Multi-purpose Office Paper
Copy Plus: Premium Business Paper
Documate: Multi-purpose Office Paper
Copy Gold: A Versatile Multi-functional Paper
WESCO Bond: Multi-purpose Office Paper
West Coast Paper Mills Ltd
20
Product Portfolio Across Different Segments Ranging from 52-600 GSM
Business Stationary
Printing & Writing
Security & Hi-value Grades Paper
MG Varieties (Machine-Glazed)
Cup Stock & Coated Duplex Board
West Coast Paper Mills Ltd
21
One of the Largest Single Location Plant
Economies of Scale Benefits
Capacity 3,20,000 TPA
Favourable plant location provides us an edge in sourcing raw-materials and ensuring adequate water supply
Located in ‘Dandeli Town in Uttara Kannada district in Karnataka on a 240 acres of leasehold land’
Last mile connectivity through a ‘Broad gauge railway line on Miraj-Bangalore section at Alnavar Junction, with railway lines that run up to the factory’
Surrounded by a ‘Dense forest and raw-material procurement is done from Karnataka State & from the near by states of Tamil Nadu, Andhra Pradesh and Maharashtra
Located on the Banks of the Kali River, the mill ensures adequate water supply for its day to day operations
Note: Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
West Coast Paper Mills Ltd
Dandeli Located ~650 km southeast of Mumbai
22
Self Sufficiency in all Utilities - Water, Power & Steam generation
Resources needed
1. Water
2. Power
3. Steam
Requirement
~50000 KL/day
~50 MWh
~345 tph
In-house Capacities
Self-sufficiency
Round the year water
availability from river Kali The mill has permission of 1,00,000 KL/day to draw water
Four captive turbo generators with power generating capacity of 74.80 MWh
Four coal fired FBC boilers & two chemical recovery boilers generating sufficient steam to meet the existing requirements.
Surplus
100% Self-Sufficient Surplus of ~24 MWh
Sufficient
West Coast Paper Mills Ltd
23
Strong Backward Integration for Key Raw Material Supply
Inhouse plantations across 2,463 acres of land
Strong Backward linkages with farming communities/farm forestry is the way forward to get key raw material/wood fibre for pulp production
•
•
Improving the productivity & profitability of farmlands
y g e t a r t S t n e m e r u c o r P d o o W
• 100% domestic procurement in FY23
• Reliance on imported material reduced significantly from 43% in FY18 to ZERO in FY23
• Also, distributes seedlings to the farmers at concessional rates to source plantations without any commitments
• Pulpwood consumption of more than
10 lakhs MT per annum
West Coast Paper Mills Ltd
Paper Making Process
Pulping
Sheet Formation & Dewatering
Converting & Finishing
• WCPM has fully
integrated pulp mill with in-house pulping capacity of 725 tpd
•
It has modernized its old 300 tpd pulp mill with ECF (Elemental Chlorine Free) in FY11
•
•
Self-sufficient in Power with captive power generating capacity of 74.8 MW
Chemical recovery plant of 1600 tpd, with recovery capability of almost 97.5%
•
End-to-end processing with sheeting, rewinding & cutting procedures
24
Our Manufacturing Facilities
Installed Capacity: 2,60,000 TPA
Installed Capacity: 3,20,000 TPA
FIBRELINE
PAPER MACHINE
DUPLEX BOARD MACHINE
PAPER CAPACITY UTILISATION OVER THE YEARS (%)
91
95
98
93
98
72
West Coast Paper Mills Ltd
25
FY 18
FY 19
FY20
FY21
FY22
FY23
Images of Our Manufacturing Facility
West Coast Paper Mills Ltd
26
Strong Commitment to Quality and R&D
Quality Control
Research & Development
24x7 Quality Control Activity
Machines equipped with advanced online process and quality control systems for continuous monitoring of the quality parameters
The Autoline, a quality control equipment in the new paper manufacturing machine is the first ever such investment by a paper Mill in India
Focus on improving the quality benchmark which translates into high customer satisfaction and a loyal off-take
‘’WCPM’s contemporary cutting-edge technology processes and equipment along with a team of dedicated trained professionals ensure that customers always get consistently high-quality products”
Strong customer focused research initiative, comprising a sophisticated Research center and qualified professionals
Instrumental in mastering the wood to paper technology into an innovation-driven dependable product sought by repeat Indian and global customers
Close monitoring of customer feedback derived by the customer service cell, based on which new products are developed
Company stands ISO 9001certified for quality in process management, ISO 14001 for effective environment management & ISO 45001 for operational health & safety management services
West Coast Paper Mills Ltd
27
One of the Largest Dealer Network in India
Distribution Presence across the country
One of the Largest dealer network in the country
o Andhra Pradesh – Guntur
o Bihar - Patna
o Chhattisgarh – Raipur
o Delhi
o Gujarat - Ahmedabad | Surat
o Karnataka - Hubli | Bangalore | Coimbatore |
Belgaum | Dandeli | Mysore | Dharwad
o Kerala - Kochi | Ernakulam |
Thiruvananthapuram
o Madhya Pradesh - Indore
o Maharashtra - Mumbai | Pune | Kolhapur
o Punjab – Jalandhar
o Rajasthan - Jaipur
o Tamil Nadu - Chennai | Madurai | Sivakasi
o Telangana - Hyderabad
o Uttar Pradesh - Varanasi | Mathura | Kanpur |
Ghaziabad
o West Bengal - Kolkata | Siliguri
West Coast Paper Mills Ltd
Punjab
Rajasthan
Uttar Pradesh
Bihar
Gujarat
Madhya Pradesh
West Bengal
Chhattisgarh
Maharashtra
Telangana
Andhra Pradesh
Karnataka
Tamil Nadu
Karnataka
Key Highlights - Distribution Network
Network of 70+ dealers and 6 zonal offices in India
75% of the dealers have been associated with the Company for over 15 years
WCPM exports its products to more than 22 countries worldwide
10%
19%
24%
47%
South
West
North
East
28
Our Global Footprints
Export Regions Uganda Ghana Nigeria Kenya Tanzania Angola Cameroon Senegal Ethiopia Madagascar Rwanda Malawi Burundi Mozambique Congo Nepal Sri Lanka Greece Turkey Egypt Iraq Qatar
West Coast Paper Mills Ltd
29
Testimony to Strive Excellence
National Environmental Awards (IPMA)
Special Commendation Award at the Paperex-2015
1st prize in Best Safe Industrial Boiler Category (2017)
State Level Safety Award (2016)
Award for Rejuvenation of Water Tanks
West Coast Paper Mills Ltd
30
Awards & Accolades
Safety Award “UTTHAMA SURAKSHA PURASKAR” from National Safety Council
National Safety Trophy (2019)
Facilitation Ceremony function held by National Safety Council - Karnataka Chapter
West Coast Paper Mills Ltd
31
Environmental Social Governance
Responsible Forestry by Forest Stewardship Council
Our Certifications
The Forest Stewardship Council® (FSC) is an international certification system that promotes environmentally appropriate, socially beneficial, and economically viable management of forests and plantations
The FSC does this by setting standards on forest products, along with certifying and labelling them as eco-friendly
The Forest Stewardship Council® (FSC) mark means that the wood or paper you are buying comes from responsibly managed forests
To become FSC certified, forest operations must meet demanding environmental, social and economic requirements, as confirmed by an independent third party such as SCS Global Services
Forest Stewardship Council® (FSC) forest management certification strengthens your position in the marketplace - guaranteeing your customers that products from your forestry operations meet the world's most stringent environmental, economic, and social standards for responsible forest management
West Coast Paper Mills Ltd
33
SARA- Certified for Being a ‘Well Managed Group Plantation’
The Society for Afforestation, Research and Allied (SARA) promoted and supported by WCPM has continuously obtained certifications for developing ‘Well Managed Group Plantations’ since 2011
Formed by eminent personalities, which includes forestry, agriculture, financial experts and progressive farmers with the Objective of greening the country, meeting socio-economic and environmental conditions of rural mass
Promote & encourage tree - farming practices on low productive and degraded lands for additional income to the farmers/farming community partnering with the SARA
•
•
•
•
•
•
Establish seed orchards for getting good hybrid seeds
Undertake R&D activities in the field of forestry, horticulture and other areas
Create employment opportunities to the rural community
Practice zero wastage with respect to all the associated operations
Plan and manage the plantations in accordance with principles and criteria for the farm forestry
Protect the environment by establishing a sylva-eco system and Agroconoesis
(SARA) has obtained the certificate for being a ‘Well Managed Group Plantation’ since 2011. At present, the Company is in a position to manufacture FSC® certified products viz; FSC® -100%, FSC® -MIX in its printing & writing papers and FSC® -Recycled logo on paperboards
West Coast Paper Mills Ltd
34
Tree Improvement Programme
Research Wing
Tree Improvement Programme
• Research wing works pro-actively towards the promotion of Technology-based plantations with local districts, local communities and small holder agro forestry
• Captive plantation techniques to increase the productivity and sustainability of our plantations
• Clonal forestry used in captive
plantation captures and exploits the best combinations and re-combinations of plant genes in the shortest possible time
• Provide genetically
fast growing, disease resistant and best quality planting stock for improving the yield from the plantations, vegetative propagation is an excellent approach
superior,
• A seed carries the improvement made from the previous generation to the next generation. Best quality seeds will help in the faster and healthier growth of trees in captive plantations
• We collect and propagate full sib seeds or half sib seeds gathered from known sources or partially known sources and use the best practices and principles for plant breeding of trees
• Seed Orchards to obtain genetically improved seeds - Cuttings from the plus trees are used to establish clonal seed orchards or seedlings raised from seed collected from the plus trees are used to make seedlings in seed orchards
West Coast Paper Mills Ltd
35
Reduction Burden on Environment
Primary Clarifier - Pulp
Secondary Clarifier - Pulp
Diffused Aeration System
Sludge loading
Mist Cooling System
Greenery at Effluent Treatment Plant
Primary Clarifier - Paper
Sludge Handling - Paper
Dewatered Sludge
Bioassay Analysis for Fish Survival
Online Continuous Air Quality Monitoring Station
West Coast Paper Mills Ltd
36
Ensuring Safety and Health in the Workplace
Fire Hydrant Pumps
Fire Hydrant Point near chipper
Full-fledged Hospital
Villagers' medical check-up
The Mill has adequate fire fighting facilities. The existing fire fighting arrangements will be suitable augmented during the MDP program
The Mill has a well aid Disaster Management Plan and the same will be adopted for the proposed MDP
The Mill has full fledged Hospital located in Bangur Nagar Colony, adjacent to the Mill premises
Regular annual medical checkups are undertaken for the employees under Occupational Surveillance program
West Coast Paper Mills Ltd
37
Contribute to the Common Good
Free Child Health Check-up & Treatment Camp
Bus Shelter at Gaonthan, Dandeli
Distribution of Desk & Benches to Schools & Colleges
Distribution of waste collection bins across Dandeli
‘’Serving the community for a better tomorrow..’’
West Coast Paper Mills Ltd
38
Tree Plantation initiatives at local schools
Way Forward
Key Growth Drivers
01
02
03
Low per capita paper consumption
Greater emphasis on education and literacy by the government
Growth in organized retail
per
low
capita
paper The consumption in India, at just over 15 kg compared to the global average of 57 kg, presents significant growth potential Indian paper the for manufacturing industry
The Indian government's focus on education and literacy has led to an increase in demand for paper-based products such as books, notebooks, and other stationery items.
Organized retail and e-commerce growth in India drives demand for high-quality solutions, packaging premium paper-based including products, to ensure product quality and safe delivery
04
Demand for better quality packaging for FMCG
The FMCG industry in India is growing at a rapid pace. Paper manufacturers can take advantage of this increase in demand for better quality packaging solutions.
05
Single-use plastic ban
06
A sustainability and eco- friendliness shift
The ban on single-use plastic has spurred the demand for eco-friendly packaging alternatives, such as paper bags, straws, and cups, which the industry can provide.
The Indian industry can tap into the growing market of environmentally conscious consumers by developing sustainable and eco-friendly paper products
40
Expansion Plans - Optic Fibre Cable
ESTIMATED COST
TARGET PRODUCTS
TIMELINE
₹ 120 crores in Phase I & ₹ 55 crores in Phase II
Optical Fibre and Optic Fibre Cables
By July 2024
ESTIMATED REVENUE
SOURCE OF FUNDING
Revenue of ₹ 275 crore
Mix of Debt and Internal Accruals.
West Coast Paper Mills Ltd
41
Cost Optimization is Continuous Discipline
Wood & Pulp Volume Mix (%)
Sales & Raw Material
Explanation
(in ₹ Crore)
3000
2500
2000
1500
1000
500
0 2019
2020
Sales
2021
2022 Raw Material
2023
5Y CAGR - Performance
Revenue CAGR
Gross Profit CAGR
9.2%
16.4%
• Sales Performance improved due to increase in Sales Realization per tonne
• Reduction in cost per tonne over the
years
• Improved Wood & Pulp Costs as high- cost Imports were replaced with the Domestic Supply
• Over the past five years, there has
been steady rise in power, fuel, and electricity expenses, yet they have been effectively controlled & managed
• Water costs reduced significantly
• Upgradation in the plants &
equipment's and better R&D led to improved operating parameters
42
82
17
1
2019
95
98
100
100
5
0
2020
2
0
2021
00
2022
0
0
2023
Domectic Sourcing Imported Wood Chips
Others
West Coast Paper Mills Ltd
Expansion & Rebuilding of Machines to Improve Productivity & Efficiency
CAPEX of 2,100 Crores (2008-19)
PM-6 Rebuild & jobs of NFL,Recy & PM
Announced ₹3300 mn investment towards debottlenecking
2018
PM-3 Rebuild & Jobs of Enmas Recy Boiler
161
149
2,098
Production capacity increased to 1,80,000 TPA
2007
1,465
323
Installed 100 TPD duplex board
2002
2008-11
2012-16
2017-18
2018-19
Mega Expansion-PM- 6,NFL,Recy,Power Plant (Capacity from 1.8 to 3.2 tpa i.e. increase by 1.40 lakhs tpa )
West Coast Paper Mills Ltd
Total Capex
Commissioned 250 TPD bleach plant
1998
Installed 75 TPD duplex board machine
1996
Set up 18,000 TPA paper capacity
1959
2010
2003
• Expansion to increase capacity to 320,000 TPA
•
Installed 725 TPD fiber line replacing old Pulp line
Reached 163,750 MTPA via rebuilding and adding duplex board capacity
2001
Attained 90% sufficiency in power
1997
Added 57,750 MTPA capacity of duplex board capacity
1974
Increased capacity to 62,000 TPA
43
Financials Highlights
Q4 & FY23 Financial Highlights
(Standalone)
Revenue (₹ in Crs)
EBITDA & EBITDA Margin
Gross Profit & Gross Profit Margin
PAT & PAT Margin
23.8%
35.1%
22.0%
34.2%
12.6%
21.4%
+19%
767
645
+75%
272
155
+90%
265
+102%
166
140
82
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Revenue (₹ in Crs)
EBITDA & EBITDA Margin
Gross Profit & Gross Profit Margin
PAT & PAT Margin
21.6%
33.2%
19.0%
32.2%
10.8%
20.9%
+42%
2,810
+118%
948
+140%
919
+169%
587
1,985
436
383
218
FY22
FY23
FY22
FY23
FY22
FY23
FY22
FY23
** Gross Profit (PBDT): Profit Before Tax + Depreciation
Note: Rounded off to the nearest whole number
45
Standalone Income Statement – Q4FY23
Particulars (₹ in Crores)
Revenue from Operations
Other Income
Total Revenue from Operations
Cost of Material Consumed
Purchases of stock-in-trade
Change in Inventories of Finished goods & Work in Progress
Employee Expenses
Other Expenses
Total Operating Expenses
EBITDA
EBITDA Margin (%)
Depreciation
EBIT
EBIT Margin (%)
Finance Cost
Exceptional Items/Share of loss from associates
Profit before Tax
Profit before Tax(%)
Tax
Profit After Tax
PAT Margin (%)
EPS (As per Profit after Tax)
Q4FY23
Q4FY22
Y-o-Y
Q3FY23
Q-o-Q
766.7
9.3
776.1
301.7
1.7
19.1
52.2
129.2
503.9
272.2
35.1%
30.2
242.0
31.2%
6.9
0.0
235.1
30.3%
69.0
166.1
21.4%
25.14
644.5
6.2
650.8
272.8
5.5
69.6
43.8
103.8
495.7
155.1
23.8%
34.7
120.4
18.5%
15.1
0.0
105.3
16.2%
23.0
82.3
12.6%
12.46
19.25%
1.64%
75.50%
100.96%
123.23%
101.76%
660.4
7.7
668.1
300.7
2.3
-37.0
47.7
124.0
437.8
230.3
0.3
30.2
200.1
30.0%
12.3
0.0
187.8
28.1%
45.9
141.9
21.2%
21.49
16.16%
15.09%
18.19%
20.92%
25.17%
17.02%
FY23
2810.3
45.7
2856.0
1221.5
7.3
-28.9
199.6
508.5
FY22
Y-o-Y
41.72%
1,985.2
30.0
2,015.2
988.5
5.5
23.9
182.4
379.3
1907.9
1,579.6
20.78%
948.1
33.2%
119.4
828.7
29.0%
29.3
0.0
799.4
28.0%
212.2
587.2
20.6%
88.89
435.6
21.6%
138.3
297.2
14.7%
52.8
0.0
244.4
12.1%
26.4
218.1
10.8%
33.02
117.65%
178.84%
227.08%
169.21%
46
Standalone Profit & Loss Statement
Particulars (₹ in Crores)
Revenue from Operations
Other Income
Total Revenue
Cost of Materials consumed
Purchase of stock-in-trade
Changes in Inventories
Employee Benefits Expense
Other Expenses
Total Operating Expenses
EBITDA
EBITDA %
Depreciation and Amortisation Expense
Finance Costs
PBT
PBT Margin
Exceptional Items
PBT
Tax Expenses
PAT
PAT %
EPS
FY21
1368.4
10.0
1378.4
688.7
0.0
31.6
164.2
292.7
1,177.3
201.05
14.7%
153.5
65.2
-17.6
-1.3%
0.0
-17.6
-19.7
2.0
0.1%
0.31
FY22
1985.2
30.0
2015.2
988.5
5.5
23.9
182.4
379.3
1,579.6
435.55
21.61%
138.3
52.8
244.4
12.3%
0.0
244.4
26.3
218.1
11.0%
33.02
FY23
2810.3
45.7
2856.0
1221.5
7.3
-28.9
199.6
508.5
1907.9
948.1
33.2%
119.4
29.3
799.4
28.4%
0
799.4
212.2
587.2
20.6%
88.89
47
Standalone Balance Sheet Statement
Equity & Liabilities (₹ in Crores)
Equity Share Capital
Other Equity
NCI
Total Equity
Financial liabilities
1. Borrowing
2. Lease Liabilities
Other Financial Liabilities
Provisions
Deferred Tax Liabilities (Net)
Other Non-current Liabilities
Total Non-Current Liabilities
Financial Liabilities
(ii) Borrowings
(ii) Lease Liabilities
(iii) Trade Payables
(iv) Other Financial Liabilities
Other Current Liabilities
Current Tax Liabilities
Provisions
Total Current Liabilities
Total Equity & Liabilities
FY21
13.2
FY22
13.2
FY23
13.2
1285.2
1494.3
2037.3
0.0
0.0
0.0
1298.4
1507.5
2050.5
396.4
225.1
0.5
59.7
5.4
0.0
75.7
537.1
64.3
16.9
47.3
10.2
0.0
83.8
19.9
57.3
6.2
0.0
79.7
388.1
222.5
231.8
166.5
89.03
0.0
69.8
83
68.4
0.0
6.1
3.3
109.2
94.1
50.2
0.0
13.4
3.7
104.7
137.2
61.9
0.0
7.7
459.0
436.7
404.1
2294.6
2332.4
2677.2
Assets (₹ in Crores)
Property, plant and equipment Capital Work-in-Progress Right of Use Asset Goodwill Intangible Assets Intangible Assets under development
Biological Assets other than Bearer Plants
Financial Assets i. Investments in Subsidiary and Associates ii. Other Investments iii. Loans iv. Other Financial Assets Other non-current assets Current tax assets Deferred tax assets Total Non-Current Assets Inventories Biological Assets other than Bearer Plants Financial Assets (i) Investments (ii) Trade Receivable (iii) Cash and Cash Equivalents (iv) Bank balances other than above (v) Loans (vi) Other Financial Assets Other Current assets Assets classified as held for sale Total Current Assets Total Assets
FY21
827.2 24.7 2.1 0.0 1.0 0.0
6.8
911.6 0.5 0.5 2.4 1.3 6.2 68.4 1,850.1 240.5 0.4
0.0 125.6 5.6 2.5 11.0 1.7 57.1 0.0 444.4 2,294.6
FY22
723.1 14.1 23.7 0.0 0.6 0.0
6.7
911.6 0.7 0.0 2.4 4.8 5.7 84.1 1777.7 246.3 0.0
88.5 133.6 3.0 2.1 6.0 6.1 69.0 0.0 554.7 2,332.4
FY23
642.6 23.9 20.6 0.0 0.5 1.4
7.3
912.1 96.6 10.0 6.2 11.8 16.5 10.5 1760.1 311.1 0.0
326.7 185.2 14.6 12.6 12.9 6.2 47.7 0.0 917.0 2677.2
48
Standalone Cash Flow Statement
Particulars (₹ in Crores)
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Add: Cash and cash equivalents as at 1st April
Cash and cash equivalents as at 31st March
FY21
FY22
FY23
-17.6
-235.6
218.0
21.4
239.4
-0.0
239.4
-58.6
244.4
164.5
408.9
14.5
423.4
-41.4
382.0
-87.7
-176.6
-298.6
4.2
1.4
5.7
-4.2
5.6
1.4
799.4
108.1
907.5
-64.9
842.6
-147.8
694.8
-370.9
-310.6
13.2
1.4
14.6
49
Segmental Performance Trends
(Standalone)
Paper & Paper Board Business
Revenue (₹ in Crs)
2,616
1,861
1,874
1,869
1,287
Cable Business
Revenue (₹ in Crs)
195
118
109
116
81
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
EBIT (₹ in Crs)
803
350
336
297
43
EBIT (₹ in Crs)
20
17
15
8
4
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
Note: Rounded off to the nearest whole number
50
Q4 & FY23 Financial Highlights
(Consolidated)
Revenue (₹ in Crs)
EBITDA & EBITDA Margin
Gross Profit & Gross Profit Margin
PAT & PAT Margin
+27%
1,357
1,067
23.2%
37.5%
21.6%
35.6%
12.9%
23.2%
+105%
518
+109%
492
+128%
321
253
235
141
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Q4FY22
Q4FY23
Revenue (₹ in Crs)
EBITDA & EBITDA Margin
Gross Profit & Gross Profit Margin
PAT & PAT Margin
20.1%
34.4%
18.4%
33.4%
+46%
4,921
+149%
1,720
+163%
1,667
10.0%
21.7%
+214%
1,087
3,378
692
633
346
FY22
FY23
FY22
FY23
FY22
FY23
FY22
FY23
** Gross Profit (PBDT): Profit Before Tax + Depreciation
Note: Rounded off to the nearest whole number
51
Consolidated Income Statement – Q4FY23
Particulars (₹ in Crores)
Revenue from Operations
Other Income
Total Revenue from Operations
Cost of Material Consumed
Purchases of stock-in-trade
Change in Inventories of Finished goods & Work in Progress
Employee Expenses
Other Expenses
Total Operating Expenses
EBITDA
EBITDA Margin (%)
Depreciation
EBIT
EBIT Margin (%)
Finance Cost
Exceptional Items/Share of loss from associates
Profit before Tax
Profit before Tax(%)
Tax
Profit After Tax
PAT Margin (%)
EPS (As per Profit after Tax)
Q4FY23
Q4FY22
Y-o-Y
Q3FY23
Q-o-Q
FY23
FY22
Y-o-Y
1,357.5
1,067.4
25.7
1,383.2
521.7
1.8
26.0
93.0
222.5
865.0
518.2
37.5%
48.0
470.2
34.0%
10.4
-15.4
444.4
32.1%
123.5
320.9
23.2%
42.1
21.8
1,089.2
26.99%
447.3
5.5
103.7
95.2
184.6
836.3
252.9
23.2%
52.6
200.3
18.4%
17.4
0
182.9
16.8%
42.3
140.6
12.9%
18.9
3.43%
104.90%
134.75%
142.97%
128.24%
1,239.2
23.6
1,262.8
517.4
2.4
-37
92.1
203
777.9
484.9
38.4%
48.3
436.6
34.6%
13.8
0
422.8
33.5%
111.7
311.1
24.6%
39.9
9.53%
11.20%
6.87%
7.70%
5.11%
3.15%
4,920.8
3,377.7
77.6
4,998.4
2063.2
7.5
-28.5
366.7
869.7
3,278.6
1719.8
34.4%
189.5
1,530.3
30.6%
37.1
-15.4
1,477.8
29.6%
390.8
1,087.0
21.7%
142.6
45.48%
58.2
3,435.9
1641.6
7.8
47.1
358.6
689.2
2,744.3
19.47%
691.6
20.1%
212.5
479.10
13.9%
58.7
0
420.4
12.2%
74.5
345.9
10.1%
46.5
148.67%
219.41%
251.52%
214.25%
52
Consolidated Profit & Loss Statement
Particulars (₹ in Crores)
Revenue from Operations
Other Income
Total Revenue
Cost of Materials consumed
Purchase of stock-in-trade
Changes in Inventories
Employee Benefits Expense
Other Expenses
Total Operating Expenses
EBITDA
EBITDA %
Depreciation and Amortisation Expense
Finance Costs
PBT
PBT Margin
Exceptional Items
PBT
Tax Expenses
PAT
PAT %
EPS
FY21
2,244.5
24.7
2,269.2
1,095.0
0.0
78.3
313.2
505.4
1,991.9
277.3
12.4%
229.4
70.1
2.5
0.1%
-4.0
-1.5
-21.8
20.3
0.9%
-0.47
FY22
3,377.7
58.2
3,435.9
1,641.6
7.8
47.1
358.6
689.2
2,744.3
691.6
20.5%
212.5
58.7
478.6
14.2%
0.0
478.6
74.5
404.1
12.0%
46.49
FY23
4,920.8
77.6 4,998.4
2,063.2
7.5
-28.5
366.7
869.7 3,278.6
1,719.8
34.4%
189.5
37.1 1,477.8
29.6%
-15.4 1,477.8
390.8 1,087.0
21.7%
142.6
53
Consolidated Balance Sheet Statement
Equity & Liabilities (₹ in Crores)
Equity Share Capital
Other Equity
NCI
Total Equity
Financial liabilities
(i). Borrowing
(ii). Lease Liabilities
Other Financial Liabilities
Provisions
Deferred Tax Liabilities (Net)
Other Non-current Liabilities
Total Non-Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
(iii) Trade Payables
(iv) Other Financial Liabilities
Other Current Liabilities
Current Tax Liabilities
Provisions
Total Current Liabilities
Total Equity & Liabilities
FY21
13.2
1,375.7
315.8
FY22
13.2
FY23
13.2
1,673.0
2,567.5
348.8
483.8
1,704.6
2,035.0
3,064.6
405.8
235.1
8.6
61.4
5.9
118.1
75.7
675.6
256.3
4.9
204.5
114.1
94.0
0.0
83.3
27.8
59.2
7.6
109.5
79.7
518.9
210.8
4.7
275.4
129.7
76.2
0.0
92.1
69.6
23.6
48.6
10.5
99.7
83.8
335.8
132.7
5.1
304.8
173.4
81.9
0.0
84.8
757.2
3,137.5
788.9
3,342.8
782.8
4,183.2
Assets (₹ in Crores)
Property, plant and equipment Capital Work-in-Progress Right of Use Asset Goodwill Intangible Assets Intangible Assets under development Biological Assets other than Bearer Plants Financial Assets (i) Other Investments (ii) Loans (iii) Other Financial Assets Other non-current assets Current tax assets (net) Deferred tax assets (net) Total Non-Current Assets Inventories Biological Assets other than Bearer Plants Financial Assets (i) Investments (ii) Trade Receivable (iii) Cash and Cash Equivalents
(iv) Bank balances other than above
(v) Loans (vi) Other Financial Assets Other Current assets Assets classified as held for sale Total Current Assets Total Assets
FY21
1,549.7 32.2 13.5 183.7 119.6 1.4
6.8
107.8 4.0 6.2 35.3 5.2 68.4 2,134.0 411.8
0.4
112.0 203.9 21.0
70.5
62.4 5.1 114.7 1.7 1,003.5 3,137.5
FY22
1,422.3 21.8 32.2 183.7 112.0 0.0
6.7
138.9 0.0 6.6 42.4 4.8 84.2 2055.6 395.8
0.0
333.0 242.3 27.8
32.3
106.0 11.3 137.4 1.3 1,287.2 3,342.8
FY23
1,338.0 53.3 27.5 183.7 102.5 1.4
7.3
271.4 10.0 10.5 82.4 12.3 10.5 2,110.8 492.3
0.0
1038.5 332.3 36.1
38.9
26.9 9.0 98.3 0.0 2,072.4 4,183.2
54
Consolidated Cash Flow Statement
Particulars (₹ in Crores)
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Add: Cash and cash equivalents as at 1st April
Cash and cash equivalents as at 31st March
FY21
FY22
FY23
-26.2
-2.9
263.9
0.7
337.6
-0.2
3.4
-166.0
-166.6
-3.3
15.8
0.1
420.4
-222.6
643.0
44.2
687.2
-96.6
590.6
-289.0
-294.7
-5.8
21.0
26.2
1,477.8
-177.0
1,654.5
86.0
1,569.0
-331.3
1,237.7
-894.0
-333.8
9.9
26.2
36.1
55
Segmental Performance Trends
(Consolidated)
Paper & Paper Board Business
Revenue (₹ in Crs)
4,712
3,249
1,861
2,384
2,163
Cable Business
Revenue (₹ in Crs)
208
118
109
129
81
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
EBIT (₹ in Crs)
1,516
348
445
473
43
EBIT (₹ in Crs)
21
18
18
8
9
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
Note: Rounded off to the nearest whole number
56
Company :
West Coast Paper Mills Limited www.westcoastpaper.com
Investor Relations Advisors :
Thank You
Orient Capital (A division of Link Intime India Pvt Ltd)
Mr. Nikunj Jain +91 9769060608 nikunj.jain@linkintime.co.in
Mr. Amar Yardi +91 7045121239 amar.yardi@linkintime.co.in