Overview

Detailed Summary

Ecoboard Industries Ltd, formerly Western Bio System, manufactures particle boards using agricultural residues like bagasse and rice husk.
The company is positioned as a major player in biogas technology, having erected several biogas plants across India and exported related technology internationally.
Ecoboard Industries has significantly increased its production capacity, becoming the largest particle board producer in India as of the late 1990s.
The company continues to innovate within its product lines, notably introducing 'EcoRak' in its EcoBuild Division during the 2022-23 fiscal year.

Sector: Diversified
Industry: Diversified - Medium / Small
Market Cap: 129 Cr
Volatility: Low Risk
P/E Ratio: -11.5
Industry P/E: 20.7
PEG Ratio: —
P/B Ratio: 14.8
52W High: 60.30
52W Low: 22.45

Sales CAGR

1Y: -57.26%
3Y: -28.45%
5Y: 1.11%
10Y: -5.94%

Profit CAGR

1Y: -151.44%
3Y: —
5Y: —
10Y: —

ROE

TTM: -139.43%
3Y: -100.41%
5Y: -25.13%
10Y: -88.14%

ROCE

TTM: -44.10%
3Y: -32.25%
5Y: -4.26%
10Y: -5.87%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ASPINWALL	211.65	165 Cr	17.59	0.89	3.07	0.99	2.91	2.99
DYNAMIC	115.00	158 Cr	16.04	0.90	0.00	11.66	14.45	6.22
TCIIND	1435.00	129 Cr	-191.08	10.41	0.00	-12.06	-8.76	-3.80
WESTERNBIO	56.93	129 Cr	-11.50	14.77	0.00	-139.43	-44.10	-25.09
THACKER	1029.00	112 Cr	5.46	0.66	0.00	11.34	2.43	2.00
RAFL	65.00	77 Cr	12.31	1.03	0.00	6.77	8.52	5.16
BOMBCYC	1685.05	68 Cr	-23.69	2.42	0.30	3.16	7.78	-7.97

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	6.49	8.79	11	5.76	3.27	1.87	1.81	1.64	4.91	9.47
Expenses	7.95	8.61	10	6.54	5.64	4.86	4.74	4.44	7.43	10
Operating Profit	-1.46	0.18	0.78	-0.78	-2.37	-2.99	-2.93	-2.80	-2.52	-0.70
OPM %	-22.50	2.05	7.24	-13.54	-72.48	-159.89	-161.88	-170.73	-51.32	-7.39
Other Income	0.02	0.03	-2.29	0.01	0.09	-4.80	-2.85	0.07	0.02	0.13
Interest	-0.01	0.15	0.30	0.12	0.12	0.19	0.11	0.35	0.08	-0.22
Depreciation	0.28	0.28	0.27	0.29	0.29	0.28	0.28	0.28	0.38	0.43
Profit Before Tax	-1.70	-0.22	-2.08	-1.17	-2.69	-8.26	-6.16	-3.36	-2.95	-0.78
Tax %	0.00	0.00	-3.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-1.70	-0.22	-2.15	-1.17	-2.69	-8.26	-6.16	-3.36	-2.95	-0.78
EPS in Rs	-0.74	-0.09	-0.93	-0.51	-1.17	-3.60	-2.64	-0.94	-1.05	-0.32

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	16	8.92	20	12	15	35	39	30	13	8.59
Expenses	21	15	24	14	16	34	42	33	22	20
Operating Profit	-4.94	-6.38	-3.52	-1.92	-0.76	1.13	-3.50	-3.14	-9.07	-11
OPM %	-30.24	-71.61	-17.28	-15.94	-5.08	3.24	-9.07	-10.55	-71.28	-129.10
Other Income	0.41	0.19	2.33	20	16	4.09	3.74	-2.20	-7.54	-7.49
Interest	4.36	6.36	4.94	2.39	2.97	2.09	2.34	0.74	0.54	0.77
Depreciation	1.47	1.23	1.07	0.95	0.94	0.98	1.04	1.11	1.14	1.13
Profit Before Tax	-10	-14	-7.20	15	11	2.14	-3.14	-7.19	-18	-20
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.03	0.00	0.00
Net Profit	-10	-14	-7.20	15	11	2.14	-3.14	-7.27	-18	-20
EPS in Rs	-4.43	-6.00	-3.13	6.57	4.98	0.89	1.43	-3.15	-7.92	-4.95
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	18	18	18	18	18	18	18	18	18	18
Reserves	-23	-8.29	-22	-29	-14	-2.71	-0.68	2.61	-4.64	-23
Borrowings	39	42	45	48	40	30	24	25	15	22
Other Liabilities	11	13	20	27	18	28	21	17	28	31
Total Liabilities	44	64	61	63	62	73	62	62	56	48
Fixed Assets	16	40	37	35	24	21	20	27	19	18
CWIP	2.34	2.36	2.36	2.36	2.36	2.37	3.45	3.25	0.00	5.23
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	26	22	22	25	36	50	39	32	38	25
Total Assets	44	64	61	63	62	73	62	62	56	48

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.24	1.00	0.91	0.38	-6.84	-2.39	-6.21	2.51	0.13	-1.22
Cash from Investing Activity	-0.65	0.06	2.83	1.70	9.21	19	11	0.12	9.54	-5.28
Cash from Financing Activity	1.06	-1.15	-3.71	-1.60	-3.03	-13	-8.11	-1.93	-10	6.76
Net Cash Flow	0.16	-0.09	0.03	0.48	-0.66	3.50	-3.60	0.70	-0.63	0.26

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	57.26%	57.18%	57.05%	56.78%	56.78%	56.78%	56.78%	57.37%	57.34%	57.34%	44.52%	44.52%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	42.74%	42.82%	42.95%	43.22%	43.22%	43.22%	43.22%	42.63%	42.66%	42.66%	55.48%	55.48%
Total Shareholders	11,838	11,865	12,091	11,944	11,917	11,969	11,858	11,982	11,860	11,731	11,607	11,524

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Frequently Asked Questions about Ecoboard Industries Ltd

Ecoboard Industries Ltd (WESTERNBIO) is currently trading at 57.20 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Ecoboard Industries Ltd, formerly Western Bio System, manufactures particle boards using agricultural residues like bagasse and rice husk. The company is positioned as a major player in biogas technology, having erected several biogas plants across India and exported related technology internationally. Ecoboard Industries has significantly increased its production capacity, becoming the largest particle board producer in India as of the late 1990s. The company continues to innovate within its product lines, notably introducing 'EcoRak' in its EcoBuild Division during the 2022-23 fiscal year.

Over the past 52 weeks, Ecoboard Industries Ltd has traded between a low of ₹22.45 and a high of ₹60.30. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Ecoboard Industries Ltd has a market capitalization of approximately 129.00. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Ecoboard Industries Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of -11.50 and operates in the Diversified sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 129.00 Cr, Ecoboard Industries Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Ecoboard Industries Ltd operates in the Diversified sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Ecoboard Industries Ltd is -11.50. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Ecoboard Industries Ltd

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

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Frequently Asked Questions about Ecoboard Industries Ltd

What is Ecoboard Industries Ltd share price today?

What does Ecoboard Industries Ltd do?

What is the 52-week high and low of Ecoboard Industries Ltd?

What is the market capitalization of Ecoboard Industries Ltd?

Should I consider investing in Ecoboard Industries Ltd stock?

Is Ecoboard Industries Ltd a large-cap, mid-cap, or small-cap stock?

Which sector does Ecoboard Industries Ltd belong to and why does it matter?

What is the PE ratio of Ecoboard Industries Ltd?

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