Blue Water Logistics Ltd.

•

bwl.co.inBSE: -NSE: BLUEWATER

Market Cap₹ 503 Cr.

Current Price

High / Low₹ 503 / 128

Stock P/E20.0

Book Value₹ 86

Price to Book1.99

Dividend Yield0.00 %

ROCE31.4 %

ROE49.8 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 71.3%
Company has a healthy return on capital (ROCE) of 37.3%
Latest quarter profit grew 222.0% YoY, showing strong momentum
Operating margins have improved to 11.4% from 4.0%
Company comfortably covers its interest (8.2x coverage)
Attractively priced for its growth - PEG of 0.1

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.45x)
Equity base is being diluted - shares outstanding up 450.0%
Total debt has risen sharply - up 192.8% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesLogisticsLogistics

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	CONCOR	499.80	30.65	38065.66	1.72	268.90	0.61	2159.76	0.28	13.63	20.41
2.	DELHIVERY	438.60	351.36	32864.05	0.00	31.91	-64.96	2930.73	27.76	2.97	4.75
3.	SHADOWFAX	253.25	133.05	14862.94	0.00	654.00	6732.86	13581.20	1806.32	11.58	6.76
4.	BLACKBUCK	629.05	67.88	11459.23	0.00	42.17	25.14	204.17	42.17	12.75	24.35
5.	TCI	859.95	14.47	6607.09	1.16	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	130.35	88.81	5751.35	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	18.88	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	396.65	102.33	3937.84	0.63	27.83	394.81	2002.88	23.29	10.40	5.76
9.	SINDHUTRAD	24.08	47.98	3712.96	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	53.34	10.91	2665.10	6.09	512.68	724.44	5492.97	897.94	17.99	21.31
11.	TCIEXP	513.50	23.94	1974.11	1.36	20.49	5.24	313.40	9.29	13.92	10.03
12.	BLUEWATER	457.50	19.96	503.25	0.00	13.97	221.96	211.22	302.10	31.44	11.17

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026
	62	53	51	112	135	211
	57	45	46	99	120	193
Operating Profit	5	7	5	13	15	19
OPM %	8.35%	13.76%	9.10%	11.54%	11.38%	8.82%
	0	0	0	0	0	0
Interest	1	1	1	1	2	3
Depreciation	0	1	1	2	1	2
Profit before Tax	4	6	5	10	12	19
Tax %	25.68%	23.86%	23.65%	25.60%	25.28%	25.45%
Net Profit	3	4	4	7	9	14
	3.76	5.42	3.97	7.21	8.74	12.70

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	98	139	196	386	510
	94	128	177	342	458
Operating Profit	4	10	19	44	52
OPM %	3.91%	7.57%	9.56%	11.40%	10.12%
	0	0	0	0	0
Interest	1	2	3	5	7
Depreciation	1	1	2	6	6
Profit before Tax	2	8	14	34	46
Tax %	25.17%	25.17%	25.35%	25.54%	25.26%
Net Profit	2	6	11	25	34
EPS	1.93	29.70	13.34	22.92	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 58%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 154%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 71%
Last Year:: 50%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2	2	8	11
	2	7	12	70
	16	14	33	101
Trade Payables	5	13	15	35
	5	6	8	19
Total Liabilities	29	42	76	235
	2	3	6	27
Capital Work in Progress	0	0	1	7
	0	26	45	141
Cash & Bank	2	2	2	16
	24	11	23	44
Total Assets	29	42	76	235

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	4	-11	-53
Cash from Investing	-1	-2	-5	-33
Cash from Financing	-3	-3	17	102
	-2	-1	-0	15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.55	69.55	69.55	69.55	69.55
	3.51	1.74	0.23	0.00	0.00
	6.37	6.00	6.88	7.17	5.18
Government	0.00	0.00	0.00	0.00	0.00
	20.57	22.72	23.35	23.28	25.27

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for BLUEWATER

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Blue Water Logistics Ltd.

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Free 5nance Account

Name

CONCOR

499.80

30.65

38065.66

1.72

268.90

0.61

2159.76

0.28

13.63

20.41

DELHIVERY

438.60

351.36

32864.05

0.00

31.91

-64.96

2930.73

27.76

2.97

4.75

SHADOWFAX

253.25

133.05

14862.94

0.00

654.00

6732.86

13581.20

1806.32

11.58

6.76

BLACKBUCK

629.05

67.88

11459.23

0.00

42.17

25.14

204.17

42.17

12.75

24.35

TCI

859.95

14.47

6607.09

1.16

106.60

-0.56

1248.50

9.58

20.52

12.30

TVSSCS

130.35

88.81

5751.35

0.00

22.48

-96.84

3335.22

28.66

11.51

6.75

VRLLOG

231.45

18.88

4048.92

0.00

805.30

1509.31

8788.40

1080.70

26.47

21.23

MAHLOG

396.65

102.33

3937.84

0.63

27.83

394.81

2002.88

23.29

10.40

5.76

SINDHUTRAD

24.08

47.98

3712.96

0.00

38.74

-79.39

129.21

-21.85

12.80

45.34

GATEWAY

53.34

10.91

2665.10

6.09

512.68

724.44

5492.97

897.94

17.99

21.31

TCIEXP

513.50

23.94

1974.11

1.36

20.49

5.24

313.40

9.29

13.92

10.03

BLUEWATER

457.50

19.96

503.25

0.00

13.97

221.96

211.22

302.10

31.44

11.17

Dec 2024

Mar 2025

Jun 2025

Dec 2025

Mar 2026

Jun 2026

112

135

211

120

193

Operating Profit

OPM %

8.35%

13.76%

9.10%

11.54%

11.38%

8.82%

Interest

Depreciation

Profit before Tax

Tax %

25.68%

23.86%

23.65%

25.60%

25.28%

25.45%

Net Profit

3.76

5.42

3.97

7.21

8.74

12.70

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

139

196

386

510

128

177

342

458

Operating Profit

OPM %

3.91%

7.57%

9.56%

11.40%

10.12%

Interest

Depreciation

Profit before Tax

Tax %

25.17%

25.35%

25.54%

25.26%

Net Profit

EPS

1.93

29.70

13.34

22.92

—

Dividend Payout %

0.00%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

101

Trade Payables

Total Liabilities

235

Capital Work in Progress

141

Cash & Bank

Total Assets

235

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-11

-53

Cash from Investing

-1

-2

-5

-33

Cash from Financing

-3

102

-2

-1

-0

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.55

3.51

1.74

0.23

0.00

6.37

6.00

6.88

7.17

5.18

Government

0.00

20.57

22.72

23.35

23.28

25.27

Blue Water Logistics Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Blue Water Logistics Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI