Western Carriers (India) Ltd.
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ABOUT
AI Sector View
AI GENERATEDServices
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.
PROS
- Company maintains a comfortable, low leverage position
- Company converts assets efficiently - asset turnover of 1.6x
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 26.1% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.00x)
- Working capital days have increased from 64 to 136 days
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCOR | 509.50 | 31.24 | 38804.43 | 1.69 | 268.90 | 0.61 | 2159.76 | 0.28 | 13.63 | 20.41 |
| DELHIVERY | 450.60 | 360.91 | 33757.46 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 2.97 | 4.75 |
| SHADOWFAX | 251.35 | 132.02 | 14747.47 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 11.58 | 6.76 |
| BLACKBUCK | 581.20 | 62.72 | 10587.56 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | 12.75 | 24.35 |
| TCI | 868.00 | 14.61 | 6668.94 | 1.15 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| TVSSCS | 124.75 | 84.99 | 5504.27 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| VRLLOG | 231.45 | 18.90 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| MAHLOG | 402.05 | 103.73 | 3991.45 | 0.62 | 27.83 | 394.81 | 2002.88 | 23.29 | 10.40 | 5.76 |
| SINDHUTRAD | 24.89 | 49.59 | 3837.86 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| GATEWAY | 53.43 | 10.93 | 2669.60 | 6.08 | 512.68 | 724.44 | 5492.97 | 897.94 | 17.99 | 21.31 |
| TCIEXP | 539.65 | 25.16 | 2074.64 | 1.30 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| WCIL | 84.01 | 23.32 | 856.53 | 0.00 | 8.69 | -19.41 | 464.88 | 11.80 | 13.21 | 4.02 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 402 | 426 | 457 | 402 | 423 | 431 | 443 | 429 | 416 | 440 | 478 | 496 | 465 | |
| 370 | 392 | 419 | 358 | 387 | 395 | 420 | 404 | 395 | 421 | 454 | 474 | 457 | |
| Operating Profit | 31 | 34 | 37 | 44 | 35 | 36 | 23 | 25 | 21 | 19 | 24 | 21 | 8 |
| OPM % | 7.80% | 7.88% | 8.18% | 10.91% | 8.39% | 8.38% | 5.28% | 5.82% | 5.00% | 4.28% | 5.00% | 4.33% | 1.80% |
| 1 | 1 | 2 | 2 | 1 | 2 | 5 | 5 | 4 | 4 | 3 | 3 | 4 | |
| Interest | 4 | 5 | 6 | 7 | 6 | 7 | 5 | 4 | 5 | 5 | 4 | 5 | 4 |
| Depreciation | 5 | 5 | 6 | 6 | 5 | 6 | 6 | 7 | 6 | 6 | 8 | 8 | 7 |
| Profit before Tax | 23 | 25 | 27 | 33 | 26 | 26 | 18 | 19 | 15 | 12 | 15 | 11 | 12 |
| Tax % | 25.14% | 26.55% | 25.61% | 26.15% | 25.98% | 25.73% | 25.94% | 25.78% | 26.62% | 26.40% | 26.08% | 26.58% | 26.76% |
| Net Profit | 17 | 18 | 20 | 24 | 19 | 19 | 13 | 14 | 11 | 9 | 11 | 8 | 9 |
| 2.22 | 2.32 | 2.59 | 3.08 | 2.40 | 2.33 | 1.11 | 1.32 | 1.06 | 0.88 | 1.06 | 0.81 | 0.85 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,726 | 1,878 | |
| 995 | 1,029 | 1,367 | 1,511 | 1,540 | 1,605 | 1,806 | |
| Operating Profit | 72 | 81 | 104 | 122 | 146 | 121 | 73 |
| OPM % | 6.73% | 7.30% | 7.09% | 7.47% | 8.67% | 6.99% | 3.86% |
| 6 | 4 | 5 | 5 | 6 | 13 | 14 | |
| Interest | 12 | 13 | 14 | 16 | 22 | 22 | 18 |
| Depreciation | 12 | 12 | 12 | 15 | 21 | 24 | 29 |
| Profit before Tax | 53 | 60 | 83 | 96 | 108 | 88 | 50 |
| Tax % | 29.71% | 25.83% | 26.68% | 25.51% | 25.89% | 25.85% | 26.43% |
| Net Profit | 37 | 45 | 61 | 72 | 80 | 65 | 37 |
| EPS | 9.51 | 11.31 | 15.53 | 9.09 | 10.21 | 6.39 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 10%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- 2%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -39%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 22%
- 3 Years:
- 19%
- Last Year:
- 11%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 39 | 39 | 39 | 39 | 39 | 51 | |
| 110 | 157 | 218 | 279 | 359 | 777 | |
| 90 | 141 | 148 | 205 | 245 | 149 | |
| Trade Payables | 92 | 78 | 65 | 54 | 70 | 80 |
| 23 | 22 | 34 | 40 | 66 | 273 | |
| Total Liabilities | 355 | 438 | 505 | 617 | 779 | 1,330 |
| 67 | 73 | 71 | 91 | 105 | 154 | |
| Capital Work in Progress | 0 | 1 | 2 | 7 | 0 | 15 |
| 4 | 4 | 5 | 5 | 3 | 3 | |
| 0 | 0 | 0 | 0 | 525 | 620 | |
| Cash & Bank | 40 | 11 | 13 | 20 | 27 | 190 |
| 243 | 350 | 413 | 495 | 118 | 347 | |
| Total Assets | 355 | 438 | 505 | 617 | 779 | 1,330 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 72 | -12 | 31 | 34 | 1 | -3 | |
| Cash from Investing | -6 | -2 | 2 | -33 | -40 | -241 |
| Cash from Financing | -51 | 26 | -8 | 30 | 40 | 247 |
| 8 | -3 | -1 | -1 | 1 | 3 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Western Carriers (India) Limited has informed the Exchange regarding 'Letter to Members- for the Annual Report FY 2025-26'.
2026-09-09 - Western Carriers (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-08 - Western Carriers (India) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-01 - Western Carriers (India) Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "Intimation of Development and Operation of General Cargo Terminal at Kolkata Dock System, Syamaprasad Mookerjee Port Authority".
2026-08-30 - Western Carriers (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-29 - Western Carriers (India) Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-29 - Western Carriers (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 29, 2026.
2026-08-29 - Western Carriers (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 29, 2026.
2026-08-22 - Western Carriers (India) Limited has informed the Exchange about Transcript
News
Recent coverage and analyst commentary for WCIL
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Western Carriers (India) Ltd.
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