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Wim Plast Ltd

WIMPLAST

NSE

₹335.300.00%8 Jun 2026

Reports

Plastics Plastic and Plastic Products

Wim Plast Ltd

WIMPLAST

NSE

₹335.30

0.00%

8 Jun 2026

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Plastics Plastic and Plastic Products

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.

Wim Plast Ltd is the company behind the CELLO brand of plastic furniture and household products, a name that has been on Indian shelves for more than five decades. Incorporated in 1988 and led by a chairman with over 40 years of experience who also built India’s largest writing-instruments brand, the business has always been about making durable, design-led plastic goods affordable for homes, schools, hotels and government buyers. That recurring approach - in-house design, pan-India manufacturing, and distribution that reaches every kind of customer - explains everything that follows.

Business segments

Two engines that feed each other - a consumer-products manufacturing platform built on the CELLO brand, and an in-house mould-making capability that supplies both its own factories and outside customers.

1. Plastic moulded furniture and consumer products: the branded manufacturing engine

The company makes one of India’s largest ranges of plastic-moulded furniture and household goods under the CELLO brand, selling through every channel from corner stores to government portals - all from factories it owns across the country.

Largest range in its category - the portfolio spans chairs, baby chairs, tables, trolleys, cabinets, extrusion sheets, air coolers, dustbins and industrial pallets, described as the largest range in plastic moulded furniture across all categories.
Premium products for hospitality - a range aimed at the HORECA (Hotel, Restaurant, Café) market is positioned as a replacement for high-end wooden or steel chairs, part of a deliberate push into premiumization at competitive prices.
Kids range with licensed characters - the company launched a sub-brand called ‘Kidzbee’ and acquired rights from well-known studios and franchises to use their intellectual property on products for children and families.
Factories in every zone - production facilities are located in all four zones of India (North, South, East, West), with plants in Daman, Baddi, Chennai, Haridwar, Kolkata and Pardi, plus 10 depots, so the company can compete with local manufacturers on both cost and delivery speed.
Omnichannel distribution - products reach customers through retail stores, modern trade, all major e-commerce platforms, the company’s own online portal, and the Government E-Marketplace (GEM) portal for institutional supplies.

2. Moulds and dies: the precision toolroom that also sells outside

The company designs and makes its own moulds in-house - the steel tools that shape every plastic chair and table - and sells them to external customers too, including the automobile industry.

In-house design, in-house control - every product is designed and executed internally, with a dedicated design and development centre and testing labs at the plants that check quality at every stage of production.
A separate revenue stream - the moulds and dies business is reported as a distinct segment, generating revenue from external sales alongside the work it does for the company’s own furniture factories.
Serves the auto industry - the mould-making capability extends to moulds for automobiles, broadening the customer base beyond plastic furniture.

Group structure and partners

Wim Plast Ltd was the listed manufacturing arm of the Cello group until a court-sanctioned restructuring in May 2026 folded its manufacturing business into a new subsidiary and merged the remaining shell into its parent, Cello World Limited - after which Wim Plast ceased to exist.

Controlled by the Rathod family - the holding company, Cello World Limited (itself listed on BSE and NSE), held 54.92% of Wim Plast and was jointly controlled by Pradeep G. Rathod and Pankaj G. Rathod along with their immediate families.
Parent is a consumer-goods trader - Cello World Limited is primarily engaged in trading plastic and rubber products such as water bottles, storage containers, lunch carriers, glassware and steel flasks, making Wim Plast the manufacturing backbone of the group’s branded goods.
A two-step restructuring - under a Composite Scheme of Arrangement effective 27 May 2026, the Manufacturing Business (furniture, sheets, coolers, dustbins, pallets and moulds) was demerged into Cello Consumer Products Private Limited, and the remaining entity was amalgamated into Cello World Limited, after which Wim Plast Ltd stood dissolved.
Royalty arrangement with a group firm - the company had a registered user agreement with Cello Plastic Industrial Works, a partnership where its directors are partners; in October 2023, the partnership waived the royalty of up to 1% on sales.
A loan to the parent - in March 2023, Wim Plast extended an unsecured loan of up to Rs. 50 Crores to Cello World Pvt. Ltd. to fund expansion of its thermoware, vacuumware and writing-instruments businesses.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹402Cr

Close Price

₹335.30

Industry

Plastics Plastic and Plastic Products

Price To Earnings

6.71

Price To Sales

1.11

Revenue

₹363Cr

Rev Gr TTM

Revenue Growth TTM

0.97%

PAT Gr TTM

PAT Growth TTM

7.57%

Consolidated

Standalone

Numbers

Percentage

Quarter	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue RevenueCr	91	78	80	87	98	90	78	93	106	90	84	83
Growth YoY Revenue Growth YoY%	-4.3	-3.7	0.3	9.4	8.4	15.9	-1.9	6.8	7.8	-0.5	7.8	-10.6
Expenses ExpensesCr	73	63	66	72	80	74	66	77	86	76	71	70
Operating Profit Operating ProfitCr	17	15	13	15	18	17	12	16	20	14	14	13
OPM OPM%	18.9	19.4	16.8	16.8	18.0	18.4	15.4	16.8	18.6	15.6	16.2	15.3
Other Income Other IncomeCr	4	4	9	6	7	6	7	5	7	11	6	7
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	3	3	3	3	3	3	3	3	3	3	3	3
PBT PBTCr	17	16	19	17	21	19	16	18	24	22	16	17
Tax TaxCr	4	4	4	4	5	5	4	5	6	5	4	4
PAT PATCr	13	12	15	13	16	15	11	14	18	17	13	13
Growth YoY PAT Growth YoY%	11.7	30.7	48.3	33.8	23.2	21.3	-22.0	5.2	8.5	16.7	10.1	-5.5
NPM NPM%	14.6	15.3	18.3	14.8	16.6	16.1	14.6	14.5	16.7	18.8	14.9	15.4
EPS EPS₹	11.0	10.0	12.2	10.7	13.6	12.1	9.5	11.3	14.7	14.1	10.5	10.7

Quarter	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue RevenueCr	91	78	80	87	98	90	78	93	106	90	84	83
Growth YoY Revenue Growth YoY%	-4.3	-3.7	0.3	9.4	8.4	15.9	-1.9	6.8	7.8	-0.5	7.8	-10.6
Expenses ExpensesCr	73	63	66	72	80	74	66	77	86	76	71	70
Operating Profit Operating ProfitCr	17	15	13	15	18	17	12	16	20	14	14	13
OPM OPM%	18.9	19.4	16.8	16.8	18.0	18.4	15.4	16.8	18.6	15.6	16.2	15.3
Other Income Other IncomeCr	4	4	9	6	7	6	7	5	7	11	6	7
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	3	3	3	3	3	3	3	3	3	3	3	3
PBT PBTCr	17	16	19	17	21	19	16	18	24	22	16	17
Tax TaxCr	4	4	4	4	5	5	4	5	6	5	4	4
PAT PATCr	13	12	15	13	16	15	11	14	18	17	13	13
Growth YoY PAT Growth YoY%	11.7	30.7	48.3	33.8	23.2	21.3	-22.0	5.2	8.5	16.7	10.1	-5.5
NPM NPM%	14.6	15.3	18.3	14.8	16.6	16.1	14.6	14.5	16.7	18.8	14.9	15.4
EPS EPS₹	11.0	10.0	12.2	10.7	13.6	12.1	9.5	11.3	14.7	14.1	10.5	10.7

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue RevenueCr	359	352	388	373	322	268	319	331	343	367	363
Growth Revenue Growth%		-2.1	10.3	-3.9	-13.7	-16.6	18.8	3.7	3.7	7.2	1.0
Expenses ExpensesCr	284	269	307	298	255	215	267	272	282	303	303
Operating Profit Operating ProfitCr	75	82	81	74	67	53	52	59	61	64	60
OPM OPM%	20.9	23.4	20.8	20.0	20.7	19.9	16.4	17.9	17.8	17.4	16.6
Other Income Other IncomeCr	2	2	2	2	8	7	11	11	25	25	30
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	11	12	15	17	19	18	16	14	12	12	11
PBT PBTCr	65	73	67	59	56	42	47	56	74	77	79
Tax TaxCr	20	24	23	20	11	10	12	14	18	20	19
PAT PATCr	45	49	44	39	45	32	35	42	56	57	60
Growth PAT Growth%		7.6	-8.5	-11.7	14.5	-28.8	8.6	20.4	33.3	2.5	7.6
NPM NPM%	12.6	13.8	11.5	10.5	14.0	11.9	10.9	12.7	16.3	15.6	16.5
EPS EPS₹	37.6	40.5	37.1	32.7	37.4	26.8	29.1	34.7	46.4	47.6	50.0

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue RevenueCr	359	352	388	373	322	268	319	331	343	367	363
Growth Revenue Growth%		-2.1	10.3	-3.9	-13.7	-16.6	18.8	3.7	3.7	7.2	1.0
Expenses ExpensesCr	284	269	307	298	255	215	267	272	282	303	303
Operating Profit Operating ProfitCr	75	82	81	74	67	53	52	59	61	64	60
OPM OPM%	20.9	23.4	20.8	20.0	20.7	19.9	16.4	17.9	17.8	17.4	16.6
Other Income Other IncomeCr	2	2	2	2	8	7	11	11	25	25	30
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	11	12	15	17	19	18	16	14	12	12	11
PBT PBTCr	65	73	67	59	56	42	47	56	74	77	79
Tax TaxCr	20	24	23	20	11	10	12	14	18	20	19
PAT PATCr	45	49	44	39	45	32	35	42	56	57	60
Growth PAT Growth%		7.6	-8.5	-11.7	14.5	-28.8	8.6	20.4	33.3	2.5	7.6
NPM NPM%	12.6	13.8	11.5	10.5	14.0	11.9	10.9	12.7	16.3	15.6	16.5
EPS EPS₹	37.6	40.5	37.1	32.7	37.4	26.8	29.1	34.7	46.4	47.6	50.0

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital Equity CapitalCr	6	12	12	12	12	12	12	12	12	12	12
Reserves ReservesCr	208	250	285	314	339	371	400	432	477	523	541
Current Liabilities Current LiabilitiesCr	29	33	34	25	33	34	25	34	31	29	23
Non Current Liabilities Non Current LiabilitiesCr	6	8	11	13	9	10	9	9	9	9	9
Total Liabilities Total LiabilitiesCr	249	303	342	364	393	425	446	486	530	572	585
Current Assets Current AssetsCr	158	184	214	224	225	269	304	340	393	462	476
Non Current Assets Non Current AssetsCr	91	119	128	140	168	156	142	146	136	110	109
Total Assets Total AssetsCr	249	303	342	364	393	425	446	486	530	572	585

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital Equity CapitalCr	6	12	12	12	12	12	12	12	12	12	12
Reserves ReservesCr	208	250	285	314	339	371	400	432	477	523	541
Current Liabilities Current LiabilitiesCr	29	33	34	25	33	34	25	34	31	29	23
Non Current Liabilities Non Current LiabilitiesCr	6	8	11	13	9	10	9	9	9	9	9
Total Liabilities Total LiabilitiesCr	249	303	342	364	393	425	446	486	530	572	585
Current Assets Current AssetsCr	158	184	214	224	225	269	304	340	393	462	476
Non Current Assets Non Current AssetsCr	91	119	128	140	168	156	142	146	136	110	109
Total Assets Total AssetsCr	249	303	342	364	393	425	446	486	530	572	585

Consolidated

Standalone

Financial Year	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow Operating Cash FlowCr	49	25	51	68	40	26	63	48	57
Investing Cash Flow Investing Cash FlowCr	-60	-19	-46	-47	-38	-21	-55	-32	-42
Financing Cash Flow Financing Cash FlowCr	0	-10	-10	-21	0	-6	-10	-10	-12
Net Cash Flow Net Cash FlowCr	-11	-5	-5	0	2	-1	-2	6	4
Free Cash Flow Free Cash FlowCr	11	-2	24	58	34	25	58	57	48
CFO To PAT CFO To PAT%	101.2	55.5	130.8	150.5	125.1	75.3	151.8	86.7	100.6
CFO To EBITDA CFO To EBITDA%	59.7	30.5	69.0	101.5	75.0	50.1	107.6	79.4	89.8

Financial Year	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow Operating Cash FlowCr	49	25	51	68	40	26	63	48	57
Investing Cash Flow Investing Cash FlowCr	-60	-19	-46	-47	-38	-21	-55	-32	-42
Financing Cash Flow Financing Cash FlowCr	0	-10	-10	-21	0	-6	-10	-10	-12
Net Cash Flow Net Cash FlowCr	-11	-5	-5	0	2	-1	-2	6	4
Free Cash Flow Free Cash FlowCr	11	-2	24	58	34	25	58	57	48
CFO To PAT CFO To PAT%	101.2	55.5	130.8	150.5	125.1	75.3	151.8	86.7	100.6
CFO To EBITDA CFO To EBITDA%	59.7	30.5	69.0	101.5	75.0	50.1	107.6	79.4	89.8

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	981	1,819	1,391	674	313	521	477	465	599	552	402
Price To Earnings Price To Earnings	21.7	37.5	31.2	17.2	7.0	16.2	13.6	11.2	10.8	9.7	6.7
Price To Sales Price To Sales	2.7	5.2	3.6	1.8	1.0	1.9	1.5	1.4	1.8	1.5	1.1
Price To Book Price To Book	4.6	6.9	4.7	2.1	0.9	1.4	1.2	1.1	1.2	1.0	0.7
EV To EBITDA EV To EBITDA	12.8	21.9	17.1	9.0	4.7	9.7	9.0	7.8	9.7	8.2	6.6
Profitability Ratios Profitability Ratios
GPM GPM%		40.0	36.5	36.4	40.0	37.6	34.0	35.2	36.8	37.5	37.5
OPM OPM%	20.9	23.4	20.8	20.0	20.7	19.9	16.4	17.9	17.8	17.4	16.6
NPM NPM%	12.6	13.8	11.5	10.5	14.0	11.9	10.9	12.7	16.3	15.6	16.5
ROCE ROCE%	30.5	27.7	22.6	18.3	16.0	11.1	11.4	12.6	15.1	14.4	14.3
ROE ROE%	21.1	18.5	15.0	12.0	12.8	8.4	8.4	9.4	11.4	10.7	10.8
ROA ROA%	18.1	16.0	13.0	10.8	11.4	7.5	7.8	8.6	10.5	10.0	10.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	981	1,819	1,391	674	313	521	477	465	599	552	402
Price To Earnings Price To Earnings	21.7	37.5	31.2	17.2	7.0	16.2	13.6	11.2	10.8	9.7	6.7
Price To Sales Price To Sales	2.7	5.2	3.6	1.8	1.0	1.9	1.5	1.4	1.8	1.5	1.1
Price To Book Price To Book	4.6	6.9	4.7	2.1	0.9	1.4	1.2	1.1	1.2	1.0	0.7
EV To EBITDA EV To EBITDA	12.8	21.9	17.1	9.0	4.7	9.7	9.0	7.8	9.7	8.2	6.6
Profitability Ratios Profitability Ratios
GPM GPM%		40.0	36.5	36.4	40.0	37.6	34.0	35.2	36.8	37.5	37.5
OPM OPM%	20.9	23.4	20.8	20.0	20.7	19.9	16.4	17.9	17.8	17.4	16.6
NPM NPM%	12.6	13.8	11.5	10.5	14.0	11.9	10.9	12.7	16.3	15.6	16.5
ROCE ROCE%	30.5	27.7	22.6	18.3	16.0	11.1	11.4	12.6	15.1	14.4	14.3
ROE ROE%	21.1	18.5	15.0	12.0	12.8	8.4	8.4	9.4	11.4	10.7	10.8
ROA ROA%	18.1	16.0	13.0	10.8	11.4	7.5	7.8	8.6	10.5	10.0	10.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	MAYURUNIQ	DDEVPLSTIK	NILKAMAL	ARROWGREEN	PLASTIBLEN	WIMPLAST	COOLCAPS
Market CapitalizationMkt CapCr	3,267	2,652	2,570	1,114	446	402	231
Close PriceClose₹	751.75	256.29	1,722.40	738.45	171.72	335.30	19.65
IndustryIndustry	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products
Price To EarningsPE	15.77	12.43	20.62	17.47	9.72	6.71	54.58
Price To SalesPS	3.20	0.84	0.69	4.52	0.53	1.11	0.44
RevenueRevenueCr	1,020	3,168	3,715	247	847	363	531
Revenue Growth TTMRev Gr TTM%	15.6%	15.3%	7.6%	12.8%	9.2%	1.0%	122.6%
PAT Growth TTMPAT Gr TTM%	35.7%	9.3%	20.6%	18.9%	40.7%	7.6%	-30.1%

	MAYURUNIQ	DDEVPLSTIK	NILKAMAL	ARROWGREEN	PLASTIBLEN	WIMPLAST	COOLCAPS
Market CapitalizationMkt CapCr	3,267	2,652	2,570	1,114	446	402	231
Close PriceClose₹	751.75	256.29	1,722.40	738.45	171.72	335.30	19.65
IndustryIndustry	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products	Plastics Plastic and Plastic Products
Price To EarningsPE	15.77	12.43	20.62	17.47	9.72	6.71	54.58
Price To SalesPS	3.20	0.84	0.69	4.52	0.53	1.11	0.44
RevenueRevenueCr	1,020	3,168	3,715	247	847	363	531
Revenue Growth TTMRev Gr TTM%	15.6%	15.3%	7.6%	12.8%	9.2%	1.0%	122.6%
PAT Growth TTMPAT Gr TTM%	35.7%	9.3%	20.6%	18.9%	40.7%	7.6%	-30.1%

FY2025

FY2024

FY2023

FY2022

FY2021

FY2025

Dec 25