The Indian Wood Products Company Ltd

IWP

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Market Cap

₹ 244 Cr

P/E

44.43

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

The Indian Wood Products Company Limited manufactures katha in India, a key ingredient used in betel chewing.

It has diversified its production base with units in Daman, Baroda, and Jammu & Kashmir, enhancing its geographic reach.

The company ventured internationally by setting up a joint venture in Indonesia for Gambier extracts, signaling strategic global expansion.

In 2019, they expanded product offerings by introducing spices under the IWP brand in Eastern and Central Uttar Pradesh and Assam.

The management shift in 1980 and recent expansions showcase its adaptability and strategic intent to innovate within its traditional market.

Sector

Tobacco Products

Industry

Chewing Tobacco / Pan Masala

Market Cap

244 Cr

Volatility

Low Risk

P/E Ratio

44.4

Industry P/E

79.0

PEG Ratio

1.0

P/B Ratio

0.7

52W High

63.00

52W Low

30.30

Sales CAGR

17.77%

8.33%

3.01%

10Y

6.79%

Profit CAGR

44.54%

—

-13.49%

10Y

-0.10%

ROE

TTM

1.52%

0.72%

0.39%

10Y

2.06%

ROCE

TTM

3.23%

2.53%

2.09%

10Y

3.93%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ITC	401.70	5,04,032 Cr	25.07	7.09	3.56	28.30	38.12	38.93
GODFRYPHLP	2861.00	44,694 Cr	35.13	7.67	1.11	21.56	26.88	15.51
ELITECON	120.58	18,357 Cr	79.75	53.10	0.00	66.61	39.38	12.86
VSTIND	253.60	4,307 Cr	19.38	3.40	5.38	17.52	22.59	16.15
IWP	37.43	244 Cr	44.43	0.68	0.39	1.52	3.23	1.01
NTCIND	160.95	237 Cr	13.26	1.08	0.00	8.12	10.14	5.24
SINNAR	818.35	33 Cr	97.44	7.11	0.00	7.29	6.83	4.06

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	50	48	45	49	56	60	55	54	51	55
Expenses	47	45	41	44	52	56	51	51	47	51
Operating Profit	3.67	3.07	3.33	4.14	4.34	3.86	3.88	3.68	3.95	3.94
OPM %	7.30	6.34	7.48	8.52	7.70	6.43	7.05	6.76	7.68	7.13
Other Income	0.40	0.54	0.26	0.55	0.28	0.89	0.46	0.54	0.43	1.38
Interest	2.05	2.12	2.03	2.22	2.31	1.90	1.84	1.86	1.91	1.70
Depreciation	0.77	0.77	0.77	0.89	0.80	0.80	0.95	0.78	1.06	1.06
Profit Before Tax	1.24	0.72	0.79	1.57	1.50	2.06	1.55	1.57	1.40	2.55
Tax %	20.16	11.11	21.52	10.83	16.00	4.85	20.65	45.86	17.86	10.59
Net Profit	1.00	0.64	0.62	1.40	1.26	1.96	1.23	0.85	1.15	2.28
EPS in Rs	0.15	0.10	0.10	0.22	0.20	0.31	0.19	0.13	0.18	0.36

Consolidated Profit Loss (in ₹ Crores)

View Standalone

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	188	219	200	195	157	178	182	192	226	221
Expenses	157	184	168	174	147	169	172	178	210	206
Operating Profit	31	35	33	21	11	8.99	10	14	16	15
OPM %	16.66	16.07	16.35	10.56	6.88	5.06	5.65	7.41	6.98	6.96
Other Income	0.49	1.51	0.19	-0.41	2.23	0.74	2.07	1.75	2.16	2.32
Interest	3.08	5.50	4.94	6.53	6.82	6.61	6.79	8.42	7.91	7.51
Depreciation	2.23	2.78	3.30	3.79	3.97	3.85	3.30	3.21	3.34	3.59
Profit Before Tax	18	25	25	9.81	2.26	-0.73	2.27	4.33	6.68	6.58
Tax %	37.35	36.99	31.50	29.42	7.97	19.83	18.97	15.46	20.76	21.12
Net Profit	11	16	17	6.92	2.08	-0.58	1.84	3.66	5.29	5.19
EPS in Rs	—	—	0.78	1.07	0.32	-0.09	0.29	0.57	0.83	0.86
Dividend Payout %	3.34	50.40	7.55	0.00	30.30	-55.56	17.24	17.54	18.07	—

Consolidated Balance Sheet (in ₹ Crores)

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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	1.60	6.40	6.40	13	13	13	13	13	13	13
Reserves	22	309	325	333	338	339	338	340	342	347
Borrowings	17	44	38	54	69	70	77	79	78	80
Other Liabilities	19	123	121	97	104	105	108	98	100	102
Total Liabilities	60	482	490	497	523	527	536	530	533	541
Fixed Assets	13	374	379	382	386	390	387	385	382	385
CWIP	0.10	0.67	1.86	2.04	10	0.34	0.26	0.10	0.30	0.04
Investments	0.00	3.39	6.09	5.23	5.12	6.99	7.49	7.86	8.74	10
Other Assets	46	104	104	108	122	129	141	137	142	147
Total Assets	60	482	490	497	523	527	536	530	533	541

Consolidated Cash Flows (in ₹ Crores)

View Standalone

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	3.71	-14	27	-5.67	-5.82	18	2.68	12	9.89	14
Cash from Investing Activity	-3.75	-12	-11	-6.79	-4.94	-3.55	-3.32	-2.94	-2.13	-4.70
Cash from Financing Activity	-0.23	25	-11	10	5.98	-13	-0.45	-5.02	-10	-8.28
Net Cash Flow	-0.27	-0.77	4.66	-2.40	-4.79	0.98	-1.10	3.79	-2.42	0.72

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%	71.12%
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	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%	0.32%
Public	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%	28.56%
Total Shareholders	5,335	5,418	5,541	6,391	6,950	11,441	12,216	13,410	13,379	13,179	13,459	14,763

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 25, 2025	Dps tradelink private limited	Bulk	Sell	33.50	1.20 Cr	3,58,291	0.56
Mar 25, 2025	Trans scan securities pvt ltd	Bulk	Buy	33.50	1.22 Cr	3,65,000	0.57

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

4 days ago

Search by Enforcement Directorate Conducted

The Enforcement Directorate conducted a search at the company's registered office and the residence of its Chairman, Mr. Bharat Mohta, on December 11, 2025.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Neutral

Bullish

Overall

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Bullish

Moving Averages

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	50	48	45	49	56	60	55	54	51	55
Expenses	47	45	41	44	52	56	51	51	47	51
Operating Profit	3.67	3.07	3.33	4.14	4.34	3.86	3.88	3.68	3.95	3.94
OPM %	7.30	6.34	7.48	8.52	7.70	6.43	7.05	6.76	7.68	7.13
Other Income	0.40	0.54	0.26	0.55	0.28	0.89	0.46	0.54	0.43	1.38
Interest	2.05	2.12	2.03	2.22	2.31	1.90	1.84	1.86	1.91	1.70
Depreciation	0.77	0.77	0.77	0.89	0.80	0.80	0.95	0.78	1.06	1.06
Profit Before Tax	1.24	0.72	0.79	1.57	1.50	2.06	1.55	1.57	1.40	2.55
Tax %	20.16	11.11	21.52	10.83	16.00	4.85	20.65	45.86	17.86	10.59
Net Profit	1.00	0.64	0.62	1.40	1.26	1.96	1.23	0.85	1.15	2.28
EPS in Rs	0.15	0.10	0.10	0.22	0.20	0.31	0.19	0.13	0.18	0.36

Consolidated Profit Loss (in ₹ Crores)

View Standalone

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	188	219	200	195	157	178	182	192	226	221
Expenses	157	184	168	174	147	169	172	178	210	206
Operating Profit	31	35	33	21	11	8.99	10	14	16	15
OPM %	16.66	16.07	16.35	10.56	6.88	5.06	5.65	7.41	6.98	6.96
Other Income	0.49	1.51	0.19	-0.41	2.23	0.74	2.07	1.75	2.16	2.32
Interest	3.08	5.50	4.94	6.53	6.82	6.61	6.79	8.42	7.91	7.51
Depreciation	2.23	2.78	3.30	3.79	3.97	3.85	3.30	3.21	3.34	3.59
Profit Before Tax	18	25	25	9.81	2.26	-0.73	2.27	4.33	6.68	6.58
Tax %	37.35	36.99	31.50	29.42	7.97	19.83	18.97	15.46	20.76	21.12
Net Profit	11	16	17	6.92	2.08	-0.58	1.84	3.66	5.29	5.19
EPS in Rs	—	—	0.78	1.07	0.32	-0.09	0.29	0.57	0.83	0.86
Dividend Payout %	3.34	50.40	7.55	0.00	30.30	-55.56	17.24	17.54	18.07	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

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	1.60	6.40	6.40	13	13	13	13	13	13	13
Reserves	22	309	325	333	338	339	338	340	342	347
Borrowings	17	44	38	54	69	70	77	79	78	80
Other Liabilities	19	123	121	97	104	105	108	98	100	102
Total Liabilities	60	482	490	497	523	527	536	530	533	541
Fixed Assets	13	374	379	382	386	390	387	385	382	385
CWIP	0.10	0.67	1.86	2.04	10	0.34	0.26	0.10	0.30	0.04
Investments	0.00	3.39	6.09	5.23	5.12	6.99	7.49	7.86	8.74	10
Other Assets	46	104	104	108	122	129	141	137	142	147
Total Assets	60	482	490	497	523	527	536	530	533	541

Consolidated Cash Flows (in ₹ Crores)

View Standalone

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	3.71	-14	27	-5.67	-5.82	18	2.68	12	9.89	14
Cash from Investing Activity	-3.75	-12	-11	-6.79	-4.94	-3.55	-3.32	-2.94	-2.13	-4.70
Cash from Financing Activity	-0.23	25	-11	10	5.98	-13	-0.45	-5.02	-10	-8.28
Net Cash Flow	-0.27	-0.77	4.66	-2.40	-4.79	0.98	-1.10	3.79	-2.42	0.72

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ITC	401.70	5,04,032 Cr	25.07	7.09	3.56	28.30	38.12	38.93
GODFRYPHLP	2861.00	44,694 Cr	35.13	7.67	1.11	21.56	26.88	15.51
ELITECON	120.58	18,357 Cr	79.75	53.10	0.00	66.61	39.38	12.86
VSTIND	253.60	4,307 Cr	19.38	3.40	5.38	17.52	22.59	16.15
IWP	37.43	244 Cr	44.43	0.68	0.39	1.52	3.23	1.01
NTCIND	160.95	237 Cr	13.26	1.08	0.00	8.12	10.14	5.24
SINNAR	818.35	33 Cr	97.44	7.11	0.00	7.29	6.83	4.06

Overview

Detailed Summary

The Indian Wood Products Company Limited manufactures katha in India, a key ingredient used in betel chewing.

It has diversified its production base with units in Daman, Baroda, and Jammu & Kashmir, enhancing its geographic reach.

The company ventured internationally by setting up a joint venture in Indonesia for Gambier extracts, signaling strategic global expansion.

In 2019, they expanded product offerings by introducing spices under the IWP brand in Eastern and Central Uttar Pradesh and Assam.

The management shift in 1980 and recent expansions showcase its adaptability and strategic intent to innovate within its traditional market.

Sector

Tobacco Products

Industry

Chewing Tobacco / Pan Masala

Market Cap

244 Cr

Volatility

Low Risk

P/E Ratio

44.4

Industry P/E

79.0

PEG Ratio

1.0

P/B Ratio

0.7

52W High

63.00

52W Low

30.30

Sales CAGR

17.77%

8.33%

3.01%

10Y

6.79%

Profit CAGR

44.54%

—

-13.49%

10Y

-0.10%

ROE

TTM

1.52%

0.72%

0.39%

10Y

2.06%

ROCE

TTM

3.23%

2.53%

2.09%

10Y

3.93%