Cylindrical projection from image normal coordinates

I am trying to project normal image coordinates to cylindrical projection using the MATLAB's

imwrap

function. But the output image is terrible.

fileName = 'peppers.png';
image = imread(fileName);
f = 200;

[h, w, bypixs] = size(image);

K = [f,0,w/2; 0,f,h/2; 0,0,1];
x = 1:w;
y = 1:h;  

[X,Y] = meshgrid(x,y);

X = X';
Y = Y';

XYZ = [X(:) Y(:) ones(h*w,1)];
XYZnew =  (K \ XYZ')';

A = [sin(XYZnew(:,1)), XYZnew(:,2), cos(XYZnew(:,1))];
B = (K * A')';

% back from homog coords
B = B(:,1:2) ./ B(:,3);

% Make sure warp coords only within image bounds
B((B(:,1) < 0) | (B(:,1) >= w) | (B(:,2) < 0) | (B(:,2) >= h),:) = -1;
B = pagetranspose(reshape(B, w, h, 2));

% Image warp
Icy = imwarp(image, B, 'FillValues', [0 0 0]);

% Display warped image
figure;
subplot(1,2,1); imshow(image)
subplot(1,2,2); imshow(Icy)

Below is the output image:

Any inputs to solve this issue is much appreciated!

[Matt J]

What should it look like? What is a cylindrical projection?

[Preetham Manjunatha]

It should look like this:

Above image has transparent background, in my case it is black. Cylindrical projection is a mapping from the Cartesion (or any) to Cylindrical coordinates. Here I am trying to warp the given normal/regular image to Cylindrical coordinates to get better panaroma stitching.