Western Carriers (India) Ltd.

•

western-carriers.comBSE: 544258NSE: WCIL

Market Cap₹ 857 Cr.

Current Price

High / Low₹ 147 / 77

Stock P/E23.3

Book Value₹ 86

Price to Book0.95

Dividend Yield0.00 %

ROCE13.2 %

ROE10.6 %

Face Value₹ 5

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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 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

ServicesLogisticsLogistics

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

S.No.	Name
1.	CONCOR	509.50	31.24	38804.43	1.69	268.90	0.61	2159.76	0.28	13.63	20.41
2.	DELHIVERY	450.60	360.91	33757.46	0.00	31.91	-64.96	2930.73	27.76	2.97	4.75
3.	SHADOWFAX	251.35	132.02	14747.47	0.00	654.00	6732.86	13581.20	1806.32	11.58	6.76
4.	BLACKBUCK	581.20	62.72	10587.56	0.00	42.17	25.14	204.17	42.17	12.75	24.35
5.	TCI	868.00	14.61	6668.94	1.15	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	124.75	84.99	5504.27	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	18.90	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	402.05	103.73	3991.45	0.62	27.83	394.81	2002.88	23.29	10.40	5.76
9.	SINDHUTRAD	24.89	49.59	3837.86	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	53.43	10.93	2669.60	6.08	512.68	724.44	5492.97	897.94	17.99	21.31
11.	TCIEXP	539.65	25.16	2074.64	1.30	20.49	5.24	313.40	9.29	13.92	10.03
12.	WCIL	84.01	23.32	856.53	0.00	8.69	-19.41	464.88	11.80	13.21	4.02

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.89	71.89	71.89	71.89	72.56	72.86	72.97	73.03
	4.22	1.39	0.29	0.30	0.61	0.25	0.04	0.00
	9.14	9.45	8.53	7.37	5.78	4.75	4.75	4.75
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	14.75	17.26	19.28	20.43	21.04	22.14	22.23	22.21

Documents

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

2026-09-09

Updates

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

Copy of Newspaper Publication

2026-09-09 - Western Carriers (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-08

Shareholders meeting

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

Press Release

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

Copy of Newspaper Publication

2026-08-30 - Western Carriers (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-29

Change in Auditors

2026-08-29 - Western Carriers (India) Limited has informed the Exchange regarding Change in Auditors of the company.

2026-08-29

Outcome of Board Meeting

2026-08-29 - Western Carriers (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 29, 2026.

2026-08-29

Outcome of Board Meeting

2026-08-29 - Western Carriers (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 29, 2026.

2026-08-22

Analysts/Institutional Investor Meet/Con. Call Updates

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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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

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

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%

Interest

Depreciation

Profit before Tax

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

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

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

104

122

146

121

OPM %

6.73%

7.30%

7.09%

7.47%

8.67%

6.99%

3.86%

Interest

Depreciation

Profit before Tax

108

Tax %

29.71%

25.83%

26.68%

25.51%

25.89%

25.85%

26.43%

Net Profit

EPS

9.51

11.31

15.53

9.09

10.21

6.39

—

Dividend Payout %

0.00%

—

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

110

157

218

279

359

777

141

148

205

245

149

Trade Payables

273

Total Liabilities

355

438

505

617

779

1,330

105

154

Capital Work in Progress

525

620

Cash & Bank

190

243

350

413

495

118

347

Total Assets

355

438

505

617

779

1,330

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-12

-3

Cash from Investing

-6

-2

-33

-40

-241

Cash from Financing

-51

-8

247

-3

-1

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.89

72.56

72.86

72.97

73.03

4.22

1.39

0.29

0.30

0.61

0.25

0.04

0.00

9.14

9.45

8.53

7.37

5.78

4.75

Government

0.00

14.75

17.26

19.28

20.43

21.04

22.14

22.23

22.21

Western Carriers (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Western Carriers (India) 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