The Western India Plywoods Limited (WIPL) fair value: what the stock is really worth
We calculate from audited financials what The Western India Plywoods Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range ₹48.48 – ₹259.14 · fair‑value band ₹19.95 – ₹30.23 · the ₹169.58 price screens above the ₹30.23 fair value. Dashed = 300-day average. As of Sep 13, 2026.
The Western India Plywoods Limited manufactures and sells hardboard, plywood, and compreg wood products in India and internationally.
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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, and paneling and ceiling substrates in hotels, hospitals, theatres, etc.; marine plywood for boat building, and load and stress bearing industrial applications; and boiling water-resistant plywood used in furniture, structural work in interior design, auto motive coach building, and match-plates in foundries. It also provides standard hardboards for applications in automotive interior trims, shoe heel manufacture, fiber drum lid manufacture, clock backing, photo frame backing, furniture elements, partitions, etc.; oil tempered hardboards for shoe heel manufacture, automobile interior trims, and improving resistance to weathering; and perforated hardboards. In addition, the company offers densified wood laminates; soft board; pre-compressed pressboards for the high voltage and extra high voltage transformer industry; molded plywood furniture; doors; and wooden floorings under the ULTRAKILIK brand name. The Company was incorporated in 1945 and is based in Kannur, India.
Stock analysis
The Western India Plywoods Limited (WIPL) currently trades at ₹169.58, while our model-based Fair Value estimate is ₹30.23, implying the stock looks roughly 460.9% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹35.33 per share, and 0 of the 24 models we run sit above the ₹169.58 price.
Bear case: the Earnings-Based group reads lowest at ₹5.54, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹19.95 (bear) to ₹30.23 (bull), the price of ₹169.58 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
The Western India Plywoods Limited reported revenue of ₹1.2B in FY2026 versus ₹993M in FY2022, a compound +4.6%/yr. Reported net income was ₹4.5M in FY2026, compounding −1.4%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹1.5B (≈ $15.8M) · P/E ratio 197.2 · P/S ratio 0.75 · EPS (TTM) ₹0.8600 · Dividend yield 0.6% · Net margin 0.4% · Return on equity 1.0% · Return on assets (EBIT) 5.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −32% fair-value upside, at −82%, WIPL screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹5.54 to ₹51.70). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹19.95Fair Value ₹30.23Bull ₹30.23
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.1%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−2.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.4%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3% vs −10%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 1%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+18.9%
Yearly growth needed for the next five years to justify today's price.
Compare The Western India Plywoods Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Lumber & Wood Production · 81 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Top 25%
Profitability
Return on equity (TTM)1% · Above median
Return on assets1% · Above median
Net margin (TTM)0% · Above median
Operating margin (TTM)−3% · Below median
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)0.6% · Bottom 25%
Balance sheet
Debt / equity0.12× · Below median
Valuation Multiplesvs Lumber & Wood Production median · lower = cheaper
P/E (TTM)197.2× · Priciest 25%
P/B3.36× · Priciest 25%
P/S (TTM)1.26× · Pricier than median
P/FCF0.4× · Cheapest 25%
EV/EBITDA42.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 19
FUTURE (revenue growth)0· sector 0
PAST (return on equity)4· sector 2
HEALTH (low debt)94· sector 92
DIVIDEND (yield)12· sector 38
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "The Western India Plywoods Limited Fair Value". https://www.fairvalue-calculator.com/stock/WIPL
Frequently asked questions
Is The Western India Plywoods Limited (WIPL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ₹30.23 versus a price of ₹169.58, about −82% upside (overvalued).
What is the fair value of WIPL?
Our model-based fair value for The Western India Plywoods Limited is ₹30.23 (as of Sep 13, 2026), built from audited fundamentals. The current price: ₹169.58.
What is the quality score of WIPL?
The Western India Plywoods Limited has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for The Western India Plywoods Limited (WIPL)?
Our model-based price target is the fair value of ₹30.23 (as of Sep 13, 2026) from 24 valuation models. Cautious scenario ₹19.95, optimistic scenario ₹30.23. It is a calculation from audited fundamentals, not an analyst target.
What is the The Western India Plywoods Limited stock forecast for 2026?
Our models put fair value at ₹30.23, about −82% upside versus a price of ₹169.58 (overvalued). Cautious scenario ₹19.95, optimistic scenario ₹30.23. The calculation is refreshed regularly with new filings.
What is the revenue of The Western India Plywoods Limited (WIPL)?
The Western India Plywoods Limited reported trailing-twelve-month revenue of about ₹1.2B (latest available figure, as of Sep 13, 2026).
Does The Western India Plywoods Limited pay a dividend?
The Western India Plywoods Limited currently shows a dividend yield of about 0.59% relative to its recent price (as of Sep 13, 2026).
What growth is priced into The Western India Plywoods Limited (WIPL)?
For today's price to be fair in a discounted-cash-flow model, The Western India Plywoods Limited would have to grow free cash flow by +18.9 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.1 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of WIPL use?
Our models discount The Western India Plywoods Limited at 12.4 %: a base by market capitalisation (nano), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For The Western India Plywoods Limited that is +18.9 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has The Western India Plywoods Limited (WIPL) delivered so far?
Over the past 5 years revenue at The Western India Plywoods Limited grew +7.1 % a year. The price currently implies +18.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of The Western India Plywoods Limited (WIPL) growing?
The median revenue growth in the sector is +3.2 % a year. That is the yardstick for the growth priced into The Western India Plywoods Limited (+18.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of The Western India Plywoods Limited (WIPL)?
The free-cash-flow yield on the price is 4.58 %: that much free cash flow The Western India Plywoods Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of The Western India Plywoods Limited (WIPL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For The Western India Plywoods Limited it is ₹30.23 per share (as of Sep 13, 2026), against a price of ₹169.58. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is The Western India Plywoods Limited stock overvalued or undervalued in 2026?
As of Sep 13, 2026, WIPL trades above its calculated fair value: price ₹169.58, fair value ₹30.23, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WIPL?
No. The price is what the market pays today (₹169.58); the fair value is what the company's own numbers justify (₹30.23). For The Western India Plywoods Limited the two are ₹139.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is The Western India Plywoods Limited worth?
The market values The Western India Plywoods Limited at about ₹1.5B (market capitalisation, as of Sep 13, 2026). Per share that is ₹169.58; our models calculate a fair value of ₹30.23 per share.
What do the bullish and bearish scenarios say about WIPL?
Our models span a range for The Western India Plywoods Limited: cautious scenario ₹19.95, base ₹30.23, optimistic ₹30.23 per share (as of Sep 13, 2026, price ₹169.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WIPL?
The Western India Plywoods Limited trades at a price-to-earnings ratio of 197.2 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹30.23 is built from several models across several years. Other multiples: P/B 3.4, P/S 1.3, EV/EBITDA 42.8.
How solid is the balance sheet of The Western India Plywoods Limited (WIPL)?
Balance-sheet figures for The Western India Plywoods Limited (as of Sep 13, 2026): return on equity 1.0%, debt of 0.12 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is WIPL from its 52-week high?
The Western India Plywoods Limited trades at ₹169.58, about 12% below its 52-week high of ₹193.20 and 27% above the low of ₹133.10 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ₹30.23 is for.
Which stocks are comparable to The Western India Plywoods Limited?
From the same area (Basic Materials) we also value Simpson Manufacturing Co, West Fraser Timber Co, UFP Industries, Inc, Stella-Jones Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is The Western India Plywoods Limited stock attractive at the current price?
The data as of Sep 13, 2026: price ₹169.58, calculated fair value ₹30.23 (−82%), Quality Score 62/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WIPL calculated?
We run The Western India Plywoods Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹30.23, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.8 % above its aggregate fair value. The Western India Plywoods Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What should I pay attention to with The Western India Plywoods Limited right now?
The price sits above even our optimistic bull case (₹30.23). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of The Western India Plywoods Limited (WIPL) come from?
Earnings per share at The Western India Plywoods Limited grew +3.9 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.3 %, EBIT margin +0.8 %, tax rate +0.0 %, residual (interest, one-offs) −1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of The Western India Plywoods Limited
How large is the market capitalisation of The Western India Plywoods Limited (WIPL)?
The market capitalisation of The Western India Plywoods Limited is ₹1.5B (≈ $15.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of The Western India Plywoods Limited (WIPL)?
The price-to-sales ratio of The Western India Plywoods Limited is 0.75 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of The Western India Plywoods Limited (WIPL)?
Earnings per share at The Western India Plywoods Limited are ₹0.8600 (price ÷ EPS = P/E 197.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of The Western India Plywoods Limited (WIPL)?
The dividend yield of The Western India Plywoods Limited is 0.6% (payout 116%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of The Western India Plywoods Limited (WIPL)?
The net margin of The Western India Plywoods Limited is 0.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of The Western India Plywoods Limited (WIPL)?
The return on equity (ROE) of The Western India Plywoods Limited is 1.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of The Western India Plywoods Limited (WIPL)?
On an EBIT basis the return on assets of The Western India Plywoods Limited is 5.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of The Western India Plywoods Limited (WIPL)?
The operating margin of The Western India Plywoods Limited is −3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at The Western India Plywoods Limited (WIPL)?
Revenue at The Western India Plywoods Limited is growing −2.7% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at The Western India Plywoods Limited (WIPL)?
Earnings per share at The Western India Plywoods Limited are growing −1.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does The Western India Plywoods Limited (WIPL) carry?
The net debt of The Western India Plywoods Limited is ₹62.9M (fiscal year 2026, ≈ 1.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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