Western India Plywood’s (WIP) , an ISO 9001-2000 certified Company located in Kerala, South India is a large and reputed panel products manufacturer for over six decades. The company was established in 1945 the company started manufacture of sawn timber and plywood on a modest scale with a few indigenous and lent-leased machinery. Due to the progressive outlook and a doyen of the wood based panel industry in India, the company made steady progress over the years and business expanded to its present stature and is today one of the biggest wood based industrial integrated complexes in the country and also in South-East Asia with an employee strength of 1200.

From the humble beginnings in 1942 as a sawmill and a tea chest manufacturing facility, WIP grew steadily adding the latest in machinery and incorporating new manufacturing techniques. Products ranged from Plywoods, Block boards, Flush door, Shuttering and Marine Plywood, Aircraft Plywood etc. The Company planned and executed the hardboard plant between the years 1956 and 1958 with an initial installed capacity of 12.50 tonnes of hardboard per day.

The Company also installed its own synthetic resin unit in 1959 with a capacity of 200 tonnes per annum, which gradually increased to 2400 tonnes per annum, by 1975. Manufacture of densified Wood was commenced on a small scale initially as a part of the plywood plant. An Industrial Licence was obtained in 1974 for manufacture of Densified Wood with a capacity of 2000 M.T. per annum. Since then, the Company has been producing components of densified wood required mainly by the electrical, textile and chemical industries, Railways, etc. In 1974 a plant for manufacture of furniture was added.

Business area of the company

WesternIndia Plywoods engaged in producing different grades of Plywood, Fiberboard (hard board, insulation board etc.), Blackboards, Flush doors, Densified wood (Compreg) and components, mocked and knockdown Furniture, Pre-finished Fibre board, Engineered Wood Floorings etc.

Product

Plywood - WIP specializes in exquisite/moulded plywood furniture which will exceed your expectations regarding strength and durability.

Structural Products-

Fire Retardant Plywood
Resin Surfaced Shuttering Plywood
Marine Plywood
BWR (Boiling Water Resistant Plywood)

Hard Boards - Hardboard, an eco-friendly wood based panel manufactured using plantation species of timber, is an extremely versatile and cost effective building material.

Densified Wood - Densified Wood Laminates are made from thin veneers impregnated with synthetic resin adhesives and pressed at high temperature and pressure.

Structural Products-

COMPREG SLATS
MOULDED SEATS
WIPCHEK
WIPBEAR

Wipress – It is a hard and rigid board having high purity with excellent electrical and mechanical properties, is specifically produced for the high voltage and extra high voltage Transformer Industry.

Furniture - WIP specializes in exquisite/moulded plywood furniture which will exceed your expectations regarding strength and durability.

Wooden Flooring - WIP specializes in exquisite/moulded Wooden Floorings which will exceed your expectations regarding strength and durability.

Market Cap	140 Cr	ROE	8.8%
P/E Ratio(TTM)	40.8	EPS(TTM)	0.0
P/B Ratio	3.3	Dividend Yield	0.6%
Industry P/E	42.4	Book Value	50.4
		Face Value	10.0

Fundamentals