🔔 🔔 Click here to get one fundamentally strong company every week delievered straight to your WhatsApp!

Wim Plast Ltd

Price at which the company is suggested – 358

Wim Plast is a 100% debt free company having one of the famous brand of Plastics under its umbrella. The company is engaged mainly in production of plastic products. Cello is one of the leading exporters of household products, and supplies to the biggest retail stores globally.

Company History

About Darkhorsestocks – DARKHORSESTOCKS are those which are fundamentally strong, have good growth potential and very few people know about. We suggest only one such idea every week on Sunday. So far majority of those stocks have delivered above 35% returns in over a year with some of them giving exceptional returns. For Whatsapp Updates Click here.

The company Started its operations in 1988 in Mumbai. The company has manufacturing units for plastic molded furniture at Daman, Baddi, Chennai, Haridwar and Kolkata, and nine depots (in Jodhpur, Punjab, Hyderabad, Haryana, Vapi, Chennai, Muzzafarnagar, Kolkata and Cuttack) and a strong consumer base throughout the country. 

Awards and Accolades

Strong Brand Wim Plast Ltd (WPL) is the part of Cello group India and has been marketing all its products under brand name Cello. It has substantially gained market share in plastic furnishing market with growing popularity of Cello brand. 

Business Segments / Products

Furniture Segment

The furniture segment consists of the furniture made of plastic which include products such as chairs , tables , storages etc. The various different collections the company has under it are LIFESTYLE COLLECTION, RATTAN COLLECTION, KIDS COLLECTION, COMFORT COLLECTION,DINING TABLES,STORAGE COLLECTION,CAFETERIA COLLECTION etc

The company is the third largest player after Nilkamal and Supreme in the organized market. 

The company also has recently introduced new product called as Bubble Wrap which includes

Application / Sectors 

Wood Protector : Save expensive wooden Furniture from getting ruined by moisture with CelloWood Protector, It is easy to install and is crack and termite proof. 

 Floor Protector : Keeps shiny and expensive tiles safe with Cello Floor Guard. It is water proof, impact resistant.easy to install, reusable & most importantly no debris. 

False Ceiling : Adorn ceilings with unbreakable, elegant and pre finished Cello False Ceiling. They are waterproof, fire retardant, termite, insect and bacteria proof and the best alternative to expensive mineral fiber false ceilings. 

Wall Panel : Make walls more attractive with Cello Wall Panels. It is waterproof. termite proof. Heat & sound insulation value and easy to install. 

5 Wall Facing Board : Cello bubble guard wall facing is most economical solution to expensive plywood & mica using as a wall facing board. Replace plywood from cupboards and showcases with beautiful, colorful and non-expensive Cello Wall Facing Boards. Forget the hassles of regular painting or polish. 

6 Door Panel / Partition :A filler material of various door panel and partitions available in Cello Door Panel / Partition Sheet. Its light weight, cost effectiveness and easy installation makes it the first choice for all contractors and builders. 

Ideal for Offices, Warehouses, Stores, Industrial Sheds, Textile Industries, Chemical Industries, Pharma Companies, Hospitals, Hotels, Docks, Ports & Commercial Complexes. 

Cello Coolers

Cello has a wide range of air coolers to keep you cool both indoors and outdoors. A variety of features like the remote controlled digital operations, intelligently designed timer settings, humidity control and an indicator that notifies you when your water level runs low, provide you with uninterrupted cooling. An in-built four way castor wheels allows anyone to move the air cooler around easily from room to room, like a trolley bag! Cello Air Coolers involve no installation costs. These air coolers are designed in such a way that they are easy to maintain and rarely require expensive repair and maintenance. The screw-less cooling pad sections are so easy to take out for cleaning

Utility Products

Cello’s high-quality plastic crates & baskets made from state-of-the-art injection moulding technology for convenient and safe handling of farm produce. Crates with jali allow air circulation to keep the farm produce fresh. These can also be conveniently stacked. These crates are ideal for agriculture, horticulture, cold storage among many others . 


Plastic Pallets

With over 40 years of experience in moulded plastic industry, cello has now ventured into moulded pallet segment.

Cello has introduced high quality Plastic Pallets which is made from the state of the art injection moulding technology for efficient and safe material handling. Plastic pallets designed by cello are durable , strong ,hygenic and nature friendly.

WPL is constantly leveraging its brand by increasing distribution network and launching innovative products.  Despite stiff competition, it has maintained its value market share of around 20% (in FY20). 

E – commerce 

The company has also started selling its various products across ecommerce platforms which include 


A sharp increase of revenue contribution from value added products (VAP) categories from 11% to 17% in the last four years, has helped the company to sustain around 20% OPM over the past many years. 

For Q1FY21

Sales were affected by Covid related lockdown as a result  sales fell75% to Rs 23.28 crore for quarter ended June’20 compared to corresponding previous year period

Plastic segment which contributes nearly 87% to the revenue fell 73% YoY while other segment which includes extrusion sheet, moulds, air cooler revenue fell 83% YoY. 

The company would have lost almost 40 days of sales amid lockdown. O

perating margins of the company was negative at 0.5% compared to 20.5% in Q1FY20resulting loss at operating level to Rs 12 lakh compared to profit of Rs 18.84 crore.Other income rose 165% to Rs 2.53 crore. 

Company reported PBT as loss of Rs 2.19 crore. 

Net profit reported loss of Rs 1.54 crore compared to profit of Rs 13.01 crore. 

For the Year Ending March 2020.

Net sales fell14% to Rs 321.6 crore compared to corresponding previous year period.

Revenue in plastic business declined by 12.23% as compared to the previous year whereas the revenue from other segments/ products (which includes cooler, moulds and die business) recorded a growth of 11.16% as compared to the previous year. 

Operating margins of the company rose 70 bps to 20.7% leading a 10% decrease in operating profit to Rs 66.62 crore. 

Other income rose299% to Rs 7.89 crore. 

July- August saw ~85% demand recovery post ease in lockdown restrictions. This demand was largely driven by tier II, tier III cities where impact of pandemic was limited. 

Opening up of economy and market share gains would help drive Wimplast performance, going forward. 

Outlook In the medium-to-long-term organised plastic furniture industry is poised to benefit from many favourable trends such as affordable prices of polymers (raw materials), increasing preference of consumers for light-weight flexible trendy standard plastic furniture instead of custom-made heavy wood and metal furniture, increasing need for work-from-home utility furniture, premiumisation, market shifting from unorganised to organised sector.

 Wimplast, with a strong brand and wide product range and distribution network, is well-placed to capitalise on these trends. 

WPL is the third largest players in the plastic furniture industry with ~14,000 touch points across India. In the last five years, it has focused on increasing share of value added product category (currently ~17%) in its revenue. WPL also increased its dividend payout to ~45% in FY20 vs. 26% in FY19.


WPL is the third largest players in the plastic furniture industry with ~14,000 touch points across India. The debt free and positive free cash flows are a huge benefits for the company. Also the company has good amount of surplus in cash and equivalents invested in Liquid funds thereby having total book value of 290 Rs. Further it is our best estimate that the earnings recovery may take place next year however the financial statements for the year ending March 2021 would be hit significantly on account of Lockdown which lead to the loss of 40 days worth of sales for the company. As a result considering the FY22E revenue estimate , faster recovery in the sales of industry post ease in lockdown restrictions and our belief of organised players gaining more market share from unorganised pie due to former’s strong supply chain management and strong distribution reach WIM PLAST is poised to grow in the coming period.

One of the key specialities of our at darkhorsestocks is that we try to present the stocks which are not very common or hardly few people actually know about. Most of the darkhorsestocks ideas are not covered by any of the brokerages or research house by presenting research reports .

Now you can also Join for whatsapp Updates by clicking on the link below or sending “subscribe” to “+91-7874999975” . Or Click here


Additional Notes-:

For more details on various different collections of Wim PLast Please refer at the end of the report.


A rare blend of aesthetic and functionality, the Lifestyle collection provides a competitive edge in terms of quality, durability and finish. It is almost five times stronger and sturdy, making it a heavy weight champion in comparison to ordinary chairs. Its ergonomic design provides a robust build for comfort. 


Its breath-taking rattan finish is a class apart from other rattan finished products which makes it an object of pride wherever placed – indoors or outdoors. Available in matching chairs and table set.


An attractive collection of chairs, tables, highchairs, study tables and cabinets in colourful, playful and vibrant designs with the option for playing games and with intelligent space optimization to brighten up your little prince and princess’s room. Created with the single thought of child safety, these unlike wooden furniture sets, come with a special coating for preventing toddlers and teenage kids in schools and playhouses from getting hurt by protruding nails.


With the change in trends and taste Cello has introduced a varied range of designer furniture which meets International brand standards. One of the key features of this collection is that all its products has a special lacquer finish that gives it a beautiful gloss thereby enhancing the product life. It has been ergonomically designed with a cushion base (for selected models) that makessitting a pleasurable art. Most popularly used for wedding functions, restaurants, conferences, educational and government institutions and can also be a part of living room furniture!


Created with the thought of saving space, Cello’s collection of stools is a different league altogether. Available in popular shapes (round, square and rectangle), sizes and heights, these stools can be used for domestic and commercial purposes.


With its whole new range of next generation plastic moulded cupboards and shoe racks, these have a thinner wall and extended space setup. From clothes, shoes, and files, the list is endless because there is a space for everything. Maintenance and termite free without the hassle of painting. Available in attractive colour combinations at affordable prices.


Cello offers a range of premium quality dining table sets available in a variety of shapes and sizes to adapt to any décor and budget. Whether it’s a romantic date or a family get together there is a set available for every occasion. These dining table sets come in a range of vibrant and distinctive colours and cutting-edge finish.


For the people with class and taste, welcome to the world of an exquisite range where the luxury has been redefined. Over the years Cello has notched up and revolutionized its quality of furniture which is no longer comprehended as mere plastic! Unlike regular chairs these come with more seating space and a high back rest for maximum comfort. Helmed as one of the most popular series, it is made with the finest special resins and international assisted technology that redefines the world of furniture. With its futuristic, contemporary and world class designs which not only looks elegant but also guarantees durability. Available in elegant designs and attractive colours.


Where elegance meets functionality. Its sleek international looks and contemporary aesthetic designs will make any cafeteria look nothing less than a 5-star dining space. It comes with a dual combo of steel and plastic material with a durable set of steel legs and frame which makes seating comfortable. It is maintenance free and can be stackable. Range includes chairs, tables and stools available in contemporary designs and premium colours.


Welcome to the world of modern living. Nowadays where storage does become a problem, Cello introduces its premium range of storage solutions in the form of cabinets,drawers, shoe racks, and much more to meet your daily needs. For the first time it has push the envelope in making plastic look premium with popular designs worldwide. Amongst many of its key features, it is the first of its kind of premium modular collection which can be customized to one’s requirement.  It is light-weighted,which makes it easy to carry and also portable. Requires no maintenance and has been intricately designed, providing it a subtle touch of variant colours.


Whether you are at a wedding or dining at a restaurant or out on a coffee date, these beauties – chairs and dining tables, make a perfect match for those with a taste of aristocracy. Created from the best quality resin material that promises long-lasting durability. One of its key features that sets it apart from the rest is its philosophy of ‘Minimum Space’ as it canbe stackable. Primarily used for Hotels, Restaurants, Cafes, Club Houses, Decorators & Caterers and Mass seating systems.


Specifically, designed to make your indoor and outdoor moments memorable. This range also comes with the feature of castor wheels and storage space for selected models making it convenient to easily move it like a trolley where ever you please and to store your stuff. It is sturdy and the tables without the castor wheels can be stackable. It is also easy to assemble and is available in a wide range of different shapes and sizes in attractive colours.


Organizing your work has become a critical factor whether you are at home or at work. With Cello’s range of drawers, lockers, stool with storage and much more, organizing your work will be a child’s play. You can easily assemble and move these products thereby making them easy to place them at any corner of your house or workplace. Enough storage space to place your accessories, files, CDs and other important documents safely. Available in various sizes and colours.

2 thoughts on “Wim Plast Ltd

  1. Thanks for the wonderful information. I have few queries on this:
    1) This stock is very less traded. Hence liquidity is not good.
    2) If you see 5 yrs horizon, then price has been declined. For now, the price is good for entry but I have doubt in great recovery in next 1 year.

  2. Yes… Liquidity is very less… The stock has been stagnant Infact there has been significant downward movement.

    Recovery is expected to be reflected in results of March 2022 onwards.

Leave a Reply