WSTCSTPAPRWest Coast Paper Mills Ltd.
West Coast Paper Mills Q2 FY27 Results: Consolidated Net Profit ₹112 Crore on Total Income of ₹1,306 Crore
- Earnings
- Paper and paper board
Reviewed byRachit TripathiBlacklitt Research
West Coast Paper Mills (NSE: WSTCSTPAPR) reported consolidated total income of ₹1,306.29 crore and net profit of ₹111.94 crore for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Standalone total income was ₹540.38 crore and standalone net profit ₹110.61 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,306.29 crore, up 20.2% YoY and 19.2% QoQ
- Net profit and EPS: ₹111.94 crore, up 840.2% YoY and down 21.1% QoQ; basic EPS ₹16.77
- Finance costs: ₹10.70 crore, up 8.4% YoY and 39.2% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹540.38 crore, down 16.2% YoY and 19.6% QoQ
- Net profit and EPS: ₹110.61 crore, up 145.7% YoY and 1.9% QoQ; basic EPS ₹15.73
- Profit before tax: ₹147.69 crore, up 149.7% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,306.29 | 1,086.57 | +20.2% | 1,095.93 | +19.2% | |
| Revenue from operations | 1,276.77 | 1,043.02 | +22.4% | 1,051.26 | +21.5% |
| Other income | 29.49 | 22.54 | +30.8% | 44.67 | -34.0% |
| 111.94 | 11.91 | +840.2% | 141.84 | -21.1% | |
| Profit before tax | 152.35 | 16.88 | +802.6% | 181.25 | -15.9% |
| Finance costs | 10.70 | 9.87 | +8.4% | 7.69 | +39.2% |
| Depreciation | 60.49 | 61.80 | -2.1% | 59.03 | +2.5% |
| Tax expense | 40.41 | 8.97 | +350.4% | 39.40 | +2.6% |
| Net profit margin | 8.57% | 1.10% | +7.47 pp | 12.94% | -4.37 pp |
| EPS, basic (₹) | 16.77 | 2.65 | +532.8% | 20.21 | -17.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit rose far faster than income. Consolidated net profit of ₹111.94 crore was 840.2% above the year-earlier ₹11.91 crore, while total income grew 20.2%. Profit before tax rose 802.6%, so the gap between profit growth and income growth is not explained by tax alone: tax expense of ₹40.41 crore is 26.5% of profit before tax this quarter, against ₹8.97 crore a year earlier.
Other income is a larger share of profit this quarter than of income. Consolidated other income of ₹29.49 crore is 2.3% of total income but 19.4% of profit before tax of ₹152.35 crore. Revenue from operations rose 22.4%, slower than other income, which rose 30.8%.
Net profit attributable to owners was ₹110.71 crore, against ₹17.42 crore a year earlier, and basic EPS was ₹16.77 against ₹2.65. Compared with the June quarter, net profit fell 21.1% while total income rose 19.2%.
Andhra Paper Limited, a subsidiary, had a 12-day planned Annual Outage at its Rajahmundry facility from 17 Aug 2026 to 28 Aug 2026, which the notes say impacted production and earnings. The filing does not give the revenue effect. Separately, the Andhra Pradesh Pollution Control Board levied Environmental Compensation of ₹21.02 crore by an order dated 05 Sep 2026. The subsidiary has appealed before the National Green Tribunal, Chennai Bench, and the matter is sub-judice. The company believes the obligation is not expected to result in a probable outflow of resources at this stage, based on legal advice.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 540.38 | 644.53 | -16.2% | 671.81 | -19.6% | |
| Revenue from operations | 512.97 | n/a | n/a | 644.53 | -20.4% |
| Other income | 27.40 | n/a | n/a | 27.28 | +0.4% |
| 110.61 | 45.02 | +145.7% | 108.58 | +1.9% | |
| Profit before tax | 147.69 | 59.14 | +149.7% | 136.57 | +8.1% |
| Finance costs | 5.05 | 5.48 | -7.7% | 4.53 | +11.6% |
| Depreciation | 30.24 | 32.84 | -7.9% | 29.40 | +2.9% |
| Tax expense | 37.18 | 14.13 | +163.2% | 27.99 | +32.8% |
| Net profit margin | 20.47% | 6.98% | +13.48 pp | 16.16% | +4.31 pp |
| EPS, basic (₹) | 15.73 | 5.23 | +200.8% | 13.45 | +17.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit of ₹110.61 crore rose 145.7% from ₹45.02 crore a year earlier, while total income fell 16.2% to ₹540.38 crore. Profit before tax rose 149.7% to ₹147.69 crore. Tax expense of ₹37.18 crore is 25.2% of profit before tax, against ₹14.13 crore a year earlier.
Other income of ₹27.40 crore is 5.1% of standalone total income and 18.6% of profit before tax. Finance costs of ₹5.05 crore are 0.9% of total income, down 7.7% from a year earlier. Standalone exceptional items are nil for the quarter.
Standalone net profit was 1.9% higher than in the June quarter, while total income fell 19.6%. Consolidated net profit (₹111.94 crore) is ₹1.33 crore above standalone, and consolidated total income is ₹765.91 crore above standalone.
The Board approved additional capacity expansion of Optical Fiber and Optical Fiber Cable at West Coast Optilinks, a division of the company. The investment required is ₹290 crore, to be financed through internal accruals and/or debt financing through banks and/or financial institutions. Proposed additions are 4.0 million fibre kilometres per annum of Optical Fiber and 3.1 million fibre kilometres per annum of Optical Fiber Cable, with capacity to be added in the third quarter of FY 2028-29.
Against existing capacity of 4.0 million fibre kilometres per annum for Optical Fiber and 4.2 million for Optical Fiber Cable, the company says the expansion will almost double existing capacity and add a new product line in Optical Fiber Cable. Utilisation in FY 2025-26 was 2.9 million for Optical Fiber and 2.3 million for Optical Fiber Cable.
Inference
The Board has approved a ₹290 crore expansion to be funded from internal accruals and/or debt, and the filing shows consolidated non-current borrowings of ₹183.14 crore and current borrowings of ₹281.08 crore at 30 Sep 2026. The filing does not say what mix of funding will be used.
The filing also does not say how the environmental compensation will be treated in the accounts or whether any provision has been made for it.
Filed with BSE on . Reference: Original filing (PDF)
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