Ecoboard Industries Ltd (WESTERNBIO) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 523732 | NSE: WESTERNBIO | Wood & Wood Products | Small Cap

Ecoboard Inds Share Price

34.11 -0.10 -0.29%
as on 05-Dec'25 16:59

Ecoboard Industries Ltd (WESTERNBIO) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 523732 | NSE: WESTERNBIO | Wood & Wood Products | Small Cap

DeciZen - make an informed investing decision on Ecoboard Inds

Based on:

M-Cap below 100cr DeciZen not available

Ecoboard Industries stock performance -

Key Ratios
mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
78.3 Cr.
52-wk low:
22.5
52-wk high:
42.5

Is Ecoboard Industries Ltd an attractive stock to invest in?


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10 Year X-Ray of Ecoboard Inds: Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ecoboard Industries Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -25.3%-14.1%-16.3%-5.8%43.5%31.9%9.8%-1%-21.1%-107.4%-
Value Creation
Index
NA-2.0NANA2.11.3-0.3-1.1-2.5NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 22.116.38.820.4121534.738.629.812.710
Sales YoY Gr.--25.9%-46%130.8%-40.9%24.8%131.2%11.2%-22.9%-57.3%-
Adj EPS -8.4-5.9-7.8-4.14.20.6-0-2.7-3.1-6.9-9
YoY Gr.-NANANANA-84.8%-103.2%NANANA-
BVPS (₹) -3.15.4-2.4-6.42.18.59.67.93.8-6.4-1
Adj Net
Profit
-14.9-10.4-13.9-7.27.41.1-0-4.8-5.6-12.3-21
Cash Flow from Ops. -0.210.90.4-6.8-2.4-6.22.50.1-1.2-
Debt/CF from Ops. -16041.949.1125.5-5.9-12.6-3.99.9114.3-18.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -5.9%1.1%-28.5%-57.3%
Adj EPS NA-210.7%NANA
BVPSNA-225.4%-187.3%-266.4%
Share Price 21.1% 51.3% -4.2% 24.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-805.6-529.4-520.692.5-190.911.9-0.2-25.7-33-302.1244.1
Op. Profit
Mgn %
-26.9-30.2-72.7-17.4-43.7-7.83.3-10.2-10.5-73.7-109.8
Net Profit
Mgn %
-67.6-63.9-156.8-35.561.57.5-0.1-12.5-18.7-96.7-202.8
Debt to
Equity
-74.4-10.6-4.21121.41.82.2-20
Working Cap
Days
471521876412910987408285338579279
Cash Conv.
Cycle
322330542152215312189179183334-413

Recent Performance Summary

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Latest Financials - Ecoboard Industries Ltd.

Standalone Consolidated
TTM EPS (₹) -9 -
TTM Sales (₹ Cr.) 10.2 -
BVPS (₹.) -1 -
Reserves (₹ Cr.) -25 -
P/BV -33.92 -
PE 0.00 -
From the Market
52 Week Low / High (₹) 22.45 / 42.46
All Time Low / High (₹) 0.65 / 135.00
Market Cap (₹ Cr.) 78.3
Equity (₹ Cr.) 23
Face Value (₹) 10
Industry PE 57.1

Management X-Ray of Ecoboard Inds:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Ecoboard Inds - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of Ecoboard Inds

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales22.0516.348.8320.3812.0415.0234.7238.6029.7612.72
Operating Expenses 2821.2815.3023.9417.9316.1933.5942.5332.9622.09
Manufacturing Costs6.883.942.592.323.184.888.958.615.714.56
Material Costs15.0510.147.7117.564.926.8217.3420.5419.278.43
Employee Cost 2.142.251.991.591.681.832.882.882.542.55
Other Costs 3.924.953.012.468.152.664.4210.495.446.56
Operating Profit -5.94-4.94-6.47-3.56-5.90-1.171.13-3.93-3.20-9.38
Operating Profit Margin (%) -26.9%-30.2%-73.2%-17.4%-49.0%-7.8%3.2%-10.2%-10.8%-73.7%
Other Income 0.530.410.190.415.921.871.052.540.231.33
Interest 5.384.366.364.982.392.972.132.720.750.54
Depreciation 1.331.471.231.070.950.940.981.041.111.14
Exceptional Items -2.78001.9918.3914.473.072.01-2.36-8.56
Profit Before Tax -14.90-10.36-13.87-7.2015.0711.262.14-3.14-7.19-18.28
Tax 000000000.070
Profit After Tax -14.90-10.36-13.87-7.2015.0711.262.14-3.14-7.27-18.28
PAT Margin (%) -67.6%-63.4%-157.0%-35.3%125.2%74.9%6.2%-8.1%-24.4%-143.0%
Adjusted EPS (₹)-8.4-5.8-7.8-4.08.56.31.2-1.8-4.1-10.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund -5.609.54-4.22-11.423.6715.1217.1520.4413.19-5.05
Share Capital 17.8317.8317.8317.8317.8317.8317.8317.8317.8317.83
Reserves -23.43-8.29-22.05-29.25-14.16-2.71-0.682.61-4.64-22.88
Minority Interest0000000000
Debt38.9842.0844.5347.8740.1730.1423.7724.0914.4522.01
Long Term Debt12.9913.1314.5320.6530.0221.3721.0622.1012.4512.24
Short Term Debt25.9928.953027.2110.158.772.711.9929.77
Trade Payables5.245.895.8212.319.436.923.658.667.299.07
Others Liabilities 5.636.6814.4214.348.3620.6217.889.0121.2221.81
Total Liabilities 44.2664.2060.5663.1061.6372.8062.4562.2056.1547.84

Fixed Assets

Gross Block81.89101.9695.5695.2572.4670.5670.8978.1569.4669.48
Accumulated Depreciation65.8662.0759.0259.9848.7449.6550.5851.5250.8251.95
Net Fixed Assets 16.0339.8936.5435.2723.7220.9120.3126.6318.6517.53
CWIP 2.342.362.362.362.362.373.453.2505.23
Investments 0000000000
Inventories17.7216.1914.4312.8917.4215.3919.2717.1113.906.09
Trade Receivables3.052.841.305.264.156.307.446.478.893.67
Cash Equivalents 0.760.440.340.810.153.650.050.750.120.39
Others Assets 4.372.475.596.4913.8324.1911.937.9914.5914.93
Total Assets 44.2664.2060.5663.1061.6372.8062.4562.2056.1547.84

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity -0.2410.910.38-6.84-2.39-6.212.510.13-1.22
PBT -14.90-10.36-13.87-7.2015.0711.262.14-3.14-7.19-18.28
Adjustment 7.127.698.315.98-12.91-11.640.552.135.5812.05
Changes in Working Capital 7.533.676.471.64-8.97-1.96-8.853.681.835.12
Tax Paid 000-0.04-0.02-0.03-0.06-0.17-0.09-0.11
Cash Flow From Investing Activity -0.650.062.831.709.2119.0510.720.129.54-5.28
Capex -0.650.062.831.708.50-0.09-0.030.1210.07-5.28
Net Investments 0000000000
Others 0-0000.7119.1410.750-0.530
Cash Flow From Financing Activity 1.06-1.15-3.71-1.60-3.03-13.17-8.11-1.93-10.306.76
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 000000-0.950-2.760.12
Interest Paid -5.18-1.64-3.33-3.50-2.94-2.40-2.09-0.59-0.67-0.47
Dividend Paid 0000000000
Others 6.240.49-0.381.89-0.10-10.77-5.06-1.33-6.877.11
Net Cash Flow 0.16-0.090.030.48-0.663.50-3.600.70-0.630.26

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/A-525.38N/AN/A0119.813.26-20.12-69.37N/A
ROCE (%)N/A-14.12N/AN/A43.4931.949.83-1.04-21.11N/A
Asset Turnover Ratio0.460.30.140.330.190.220.510.620.50.24
PAT to CFO Conversion(x)N/AN/AN/AN/A-0.45-0.21-2.9N/AN/AN/A
Working Capital Days
Receivable Days43668559143127726694180
Inventory Days352379627245459399182172190287
Payable Days126200277188806438111109151354

Ecoboard Industries Ltd Stock News

Ecoboard Industries Ltd FAQs

The current trading price of Ecoboard Inds on 05-Dec-2025 16:59 is ₹34.11.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2025 the market cap of Ecoboard Inds stood at ₹78.33.
The latest P/E ratio of Ecoboard Inds as of 04-Dec-2025 is 0.00.
The latest P/B ratio of Ecoboard Inds as of 04-Dec-2025 is -33.92.
The 52-week high of Ecoboard Inds is ₹42.46 and the 52-week low is ₹22.45.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ecoboard Inds is ₹10.23 ( Cr.) .

About Ecoboard Industries Ltd

Ecoboard Industries was established in 1986 by like-minded promoters who have been associated with the cause of environmental control. Ecoboard Industries Limited today is in the forefront to provide consultancy and supply of efficient effluent treatment systems on turnkey basis.

To prevent the environment from damage, Ecoboard Industries Limited brings the state-of-the-art technology, to treat effluent and turn it into a useful non-conventional energy resource.

ECOBOARD’ is a 100% Woodfree tough alternative to conventional particle boards, plywood and other panel products. In keeping with its commitment towards a Greener Earth, Ecoboard Industries Ltd. brought a Revolutionary Concept in Design and Decor.

'ECOBOARD' is a versatile all purpose particle board. Its homogeneous processing and usage of fibre-reinforcement system with 11% resin content ensures a much higher bonding strength which is as good as natural wood. Ecoboard Industries Ltd., in collaboration with nature, is in the pursuit of converting the planet into a good earth obviating the side effects of industrial revolution.

Ecoboard Industries has set up two state-of-the-art, modern manufacturing facilities at Jambhulwadi in Sangli district and Velapur in Solapur district of Maharashtra.

Spread over 30 acres of land, the Jambhulwadi plant has been set up at a cost of Rs 2800 lakh and has a production capacity of 120 cubic metres per day. About 100,000 tonnes of bagasse per annum, which would otherwise go waste, is consumed by the plant to produce ECOBOARD. The machinery includes supplies from 'Siempelkamp' 'Wurtex' DRIAS, Becker Von HULLUEN of Germany and IMEAS of Italy.

Spread over 90 acres of land, the Velapur plant has been set up at a cost of Rs 55 crore. The plant is much more sophisticated and automated. Most of its machinery is imported from Germany and U.K. The plant has on-line changing options for various thickness boards. Its production capacity is 36 lakh sq.mts.per annum.

Ecoboard Industries Ltd. (Bio Systems Division) is in the forefront of generating renewable non-conventional energy from organic industrial effluents for the past 20 years. Its CSTR Anaerobic Plant (Biogas Plant) is most effective in controlling environmental pollution due to industrial effluents, and in generating substantial biogas a valuable resource of renewable energy.

Product range of the company includes:

  • Plain Particle Board- 100% wood free smooth surface and excellent bonding strength, High durability, Easy maintenance, Excellent machinability, Dimensional stability, More economical, saves time and labor, No wrapping or deformation, Moisture resistance, Fire retardant, High resistance to abrasion, Termite resistance, Excellent screw holding capacity.
  • Laminated Particle Board- 100% wood free and laminated with imported paper. High durability, Easy maintenance, Excellent machinability, Dimensional stability, More economical, saves time and labor, No wrapping or deformation, Moisture resistance, Fire retardant, High resistance to abrasion, Termite resistance, Excellent screw holding capacity.
  • Furniture includes- Manger's Table, Executive Table, Reception Table, Discussion Table and Storage Unit.

Different divisions of the company are:

  • Particle Board
  • Bio System
  • Furniture

Awards/Achievements

The ISO 9001 and ISO 14001 certified company.

Other achievements

Ecoboard conserves tree resources and forest wealth, it saves environment from pollutants it promotes rural economy and employment it helps farmers getting remunerative price for their sugarcane it promotes self-employment among carpenters, artisans etc and it prevents exodus from rural to urban areas.

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