Blue Water Logistics Ltd.
•₹ 4453.73%
2026-08-21
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 0.0
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | CONCOR | 514.00 | 31.52 | 39147.16 | 1.67 | 268.90 | 0.61 | 2159.76 | 0.28 | 14.79 | 20.41 |
| 2. | DELHIVERY | 448.00 | 358.82 | 33562.68 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 3.02 | 4.75 |
| 3. | SHADOWFAX | 265.20 | 139.25 | 15555.60 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 4.90 | 6.76 |
| 4. | BLACKBUCK | 613.80 | 66.23 | 11180.37 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | -31.80 | 24.35 |
| 5. | TCI | 914.10 | 15.38 | 7023.13 | 1.09 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| 6. | TVSSCS | 120.95 | 82.41 | 5336.60 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| 7. | VRLLOG | 231.45 | 0.00 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| 8. | MAHLOG | 406.00 | 104.69 | 4028.43 | 0.62 | 27.83 | 394.81 | 2002.88 | 23.29 | 10.40 | 5.76 |
| 9. | SINDHUTRAD | 24.29 | 48.39 | 3745.35 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| 10. | GATEWAY | 54.17 | 11.08 | 2706.57 | 6.00 | 512.68 | 724.44 | 5492.97 | 897.94 | 17.99 | 21.31 |
| 11. | TCIEXP | 547.00 | 25.50 | 2102.90 | 1.28 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| 12. | BLUEWATER | 408.60 | 0.00 | 449.46 | 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 | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 1 | 2 | 3 |
| Depreciation | 0 | 1 | 1 | 2 | 1 | 2 |
| 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 |
| 4 | 5 | 0 | 7 | 9 | 1 | |
| Equity Capital | 8 | 8 | 11 | 11 | 11 | 11 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 8 | 8 | 11 | 11 | 11 | 11 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Dec 2024
- 62
- 57
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 4
- Tax %
- 25.68%
- Net Profit
- 3
- 4
- Equity Capital
- 8
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 8
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 53
- 45
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 6
- Tax %
- 23.86%
- Net Profit
- 4
- 5
- Equity Capital
- 8
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 8
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 51
- 46
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 5
- Tax %
- 23.65%
- Net Profit
- 4
- 0
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 112
- 99
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 2
- 10
- Tax %
- 25.60%
- Net Profit
- 7
- 7
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 135
- 120
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 2
- Depreciation
- 1
- 12
- Tax %
- 25.28%
- Net Profit
- 9
- 9
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 211
- 193
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 3
- Depreciation
- 2
- 19
- Tax %
- 25.45%
- Net Profit
- 14
- 1
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
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 | 11 | 19 | 44 | — |
| OPM % | 4 | 8 | 10 | 11 | — |
| Other Income | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 2 | 3 | 5 | 7 |
| Depreciation | 1 | 1 | 2 | 6 | 6 |
| 2 | 8 | 14 | 34 | 46 | |
| Tax % | 25 | 25 | 25 | 26 | 25 |
| Net Profit | 2 | 6 | 11 | 25 | 34 |
| EPS | 2 | 30 | 13 | 23 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 2 | 7 | 13 | 23 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 2 | 7 | 13 | 23 | — |
Mar 2023
- 98
- 94
- Operating Profit
- 4
- OPM %
- 4
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 2
- Tax %
- 25
- Net Profit
- 2
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2024
- 139
- 128
- Operating Profit
- 11
- OPM %
- 8
- Other Income
- 0
- Interest
- 2
- Depreciation
- 1
- 8
- Tax %
- 25
- Net Profit
- 6
- EPS
- 30
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2025
- 196
- 177
- Operating Profit
- 19
- OPM %
- 10
- Other Income
- 0
- Interest
- 3
- Depreciation
- 2
- 14
- Tax %
- 25
- Net Profit
- 11
- EPS
- 13
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2026
- 386
- 342
- Operating Profit
- 44
- OPM %
- 11
- Other Income
- 0
- Interest
- 5
- Depreciation
- 6
- 34
- Tax %
- 26
- Net Profit
- 25
- EPS
- 23
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 23
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 23
TTM
- 510
- 458
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 7
- Depreciation
- 6
- 46
- Tax %
- 25
- Net Profit
- 34
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
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 | |
|---|---|---|---|---|
| LIABILITIES | - | - | - | - |
| Equity Capital | 2 | 2 | 8 | 11 |
| 2 | 7 | 12 | 70 | |
| 9 | 8 | 19 | 75 | |
| Trade Payables | 5 | 13 | 15 | 35 |
| 11 | 12 | 22 | 44 | |
| Total Liabilities | 29 | 42 | 76 | 235 |
| ASSETS | - | - | - | - |
| 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 |
| Total Debt | 19 | 17 | 37 | 108 |
| Net Working Capital | 7 | 12 | 26 | 67 |
| Contingent Liabilities | 0 | 0 | 1 | 1 |
| Book Value per Share | 17.54 | 47.28 | 25.08 | 73.72 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 19 | 17 | 37 | 108 |
| Net Working Capital | 7 | 12 | 26 | 67 |
| Contingent Liabilities | 0 | 0 | 1 | 1 |
| Book Value per Share | 17.54 | 47.28 | 25.08 | 73.72 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2023
- Equity Capital
- 2
- 2
- 9
- Trade Payables
- 5
- 11
- Total Liabilities
- 29
- 2
- Capital Work in Progress
- 0
- 0
- Cash & Bank
- 2
- 24
- Total Assets
- 29
- Total Debt
- 19
- Net Working Capital
- 7
- Contingent Liabilities
- 0
- Book Value per Share
- 17.54
- Face Value
- 10.00
- Total Debt
- 19
- Net Working Capital
- 7
- Contingent Liabilities
- 0
- Book Value per Share
- 17.54
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 2
- 7
- 8
- Trade Payables
- 13
- 12
- Total Liabilities
- 42
- 3
- Capital Work in Progress
- 0
- 26
- Cash & Bank
- 2
- 11
- Total Assets
- 42
- Total Debt
- 17
- Net Working Capital
- 12
- Contingent Liabilities
- 0
- Book Value per Share
- 47.28
- Face Value
- 10.00
- Total Debt
- 17
- Net Working Capital
- 12
- Contingent Liabilities
- 0
- Book Value per Share
- 47.28
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 8
- 12
- 19
- Trade Payables
- 15
- 22
- Total Liabilities
- 76
- 6
- Capital Work in Progress
- 1
- 45
- Cash & Bank
- 2
- 23
- Total Assets
- 76
- Total Debt
- 37
- Net Working Capital
- 26
- Contingent Liabilities
- 1
- Book Value per Share
- 25.08
- Face Value
- 10.00
- Total Debt
- 37
- Net Working Capital
- 26
- Contingent Liabilities
- 1
- Book Value per Share
- 25.08
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 11
- 70
- 75
- Trade Payables
- 35
- 44
- Total Liabilities
- 235
- 27
- Capital Work in Progress
- 7
- 141
- Cash & Bank
- 16
- 44
- Total Assets
- 235
- Total Debt
- 108
- Net Working Capital
- 67
- Contingent Liabilities
- 1
- Book Value per Share
- 73.72
- Face Value
- 10.00
- Total Debt
- 108
- Net Working Capital
- 67
- Contingent Liabilities
- 1
- Book Value per Share
- 73.72
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 3 | 4 | -11 | -53 | |
| Cash from Investing | -1 | -2 | -5 | -33 |
| Cash from Financing | -3 | -3 | 17 | 102 |
| -2 | -1 | -0 | 15 | |
| Free Cash Flow | 3 | 2 | -17 | -86 |
| OCF / Net Profit | 1.91 | 0.71 | -1.07 | -2.12 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
| OCF / Net Profit | 1.91 | 0.71 | -1.07 | -2.12 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
Mar 2023
- 3
- Cash from Investing
- -1
- Cash from Financing
- -3
- -2
- Free Cash Flow
- 3
- OCF / Net Profit
- 1.91
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.91
- Cumulative 5-Year FCF
- 0
Mar 2024
- 4
- Cash from Investing
- -2
- Cash from Financing
- -3
- -1
- Free Cash Flow
- 2
- OCF / Net Profit
- 0.71
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.71
- Cumulative 5-Year FCF
- 0
Mar 2025
- -11
- Cash from Investing
- -5
- Cash from Financing
- 17
- -0
- Free Cash Flow
- -17
- OCF / Net Profit
- -1.07
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -1.07
- Cumulative 5-Year FCF
- 0
Mar 2026
- -53
- Cash from Investing
- -33
- Cash from Financing
- 102
- 15
- Free Cash Flow
- -86
- OCF / Net Profit
- -2.12
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -2.12
- Cumulative 5-Year FCF
- 0
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| PER SHARE | - | - | - | - |
| EPS (₹) | 7.70 | 29.70 | 13.34 | 22.92 |
| Book Value (₹) | 17.54 | 47.28 | 25.08 | 73.72 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.57 | 8.62 | 15.44 | 28.14 |
| PROFITABILITY | - | - | - | - |
| Operating Margin % | 4.00% | 7.57% | 9.56% | 11.40% |
| Net Margin % | 1.57% | 4.28% | 5.44% | 6.53% |
| ROE % | 43.92% | 91.65% | 72.30% | 49.84% |
| ROCE % | 15.25% | 39.24% | 41.14% | 31.44% |
| 5.27% | 16.66% | 18.02% | 16.17% | |
| EFFICIENCY | - | - | - | - |
| Debtor Days | 74 | 61 | 67 | 88 |
| Inventory Days | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 |
| 74 | 61 | 67 | 88 | |
| FINANCIAL HEALTH | - | - | - | - |
| Debt to Equity (x) | 5.36x | 1.82x | 1.83x | 1.33x |
| Interest Coverage (x) | 2.53x | 5.74x | 5.97x | 8.17x |
| 1.38x | 1.45x | 1.62x | 1.52x | |
| GROWTH | - | - | - | - |
| Revenue Growth % | 0.00% | 41.53% | 41.47% | 96.77% |
| Operating Profit Growth % | 0.00% | 169.86% | 78.36% | 135.11% |
| Net Profit Growth % | 0.00% | 285.60% | 79.63% | 136.22% |
| 0.00% | 285.60% | -55.09% | 71.80% | |
| VALUATION | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 6.41x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 1.99x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 1.67x | 2.29x | 5.72x |
Mar 2023
- EPS (₹)
- 7.70
- Book Value (₹)
- 17.54
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.57
- Operating Margin %
- 4.00%
- Net Margin %
- 1.57%
- ROE %
- 43.92%
- ROCE %
- 15.25%
- 5.27%
- Debtor Days
- 74
- Inventory Days
- 0
- Payable Days
- 0
- 74
- Debt to Equity (x)
- 5.36x
- Interest Coverage (x)
- 2.53x
- 1.38x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 29.70
- Book Value (₹)
- 47.28
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 8.62
- Operating Margin %
- 7.57%
- Net Margin %
- 4.28%
- ROE %
- 91.65%
- ROCE %
- 39.24%
- 16.66%
- Debtor Days
- 61
- Inventory Days
- 0
- Payable Days
- 0
- 61
- Debt to Equity (x)
- 1.82x
- Interest Coverage (x)
- 5.74x
- 1.45x
- Revenue Growth %
- 41.53%
- Operating Profit Growth %
- 169.86%
- Net Profit Growth %
- 285.60%
- 285.60%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 1.67x
Mar 2025
- EPS (₹)
- 13.34
- Book Value (₹)
- 25.08
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 15.44
- Operating Margin %
- 9.56%
- Net Margin %
- 5.44%
- ROE %
- 72.30%
- ROCE %
- 41.14%
- 18.02%
- Debtor Days
- 67
- Inventory Days
- 0
- Payable Days
- 0
- 67
- Debt to Equity (x)
- 1.83x
- Interest Coverage (x)
- 5.97x
- 1.62x
- Revenue Growth %
- 41.47%
- Operating Profit Growth %
- 78.36%
- Net Profit Growth %
- 79.63%
- -55.09%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 2.29x
Mar 2026
- EPS (₹)
- 22.92
- Book Value (₹)
- 73.72
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 28.14
- Operating Margin %
- 11.40%
- Net Margin %
- 6.53%
- ROE %
- 49.84%
- ROCE %
- 31.44%
- 16.17%
- Debtor Days
- 88
- Inventory Days
- 0
- Payable Days
- 0
- 88
- Debt to Equity (x)
- 1.33x
- Interest Coverage (x)
- 8.17x
- 1.52x
- Revenue Growth %
- 96.77%
- Operating Profit Growth %
- 135.11%
- Net Profit Growth %
- 136.22%
- 71.80%
- P/E (x)
- 6.41x
- P/B (x)
- 1.99x
- Dividend Yield %
- 0.00%
- 5.72x
Documents
Announcements
Nothing filed yet.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jun 2026
Feb 2026
Nov 2025