Shipwaves Online Ltd
Incorporated in 2015, Shipwaves Online Limited is engaged in the business of digital freight forwarding and enterprise SaaS solutions.[1]
- Market Cap ₹ 46.7 Cr.
- Current Price ₹ 3.30
- High / Low ₹ 12.0 / 3.26
- Stock P/E 27.8
- Book Value ₹ 5.04
- Dividend Yield 0.00 %
- ROCE 6.65 %
- ROE 3.85 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Stock is trading at 0.65 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 8.79% over past five years.
- Tax rate seems low
- Company has a low return on equity of 12.7% over last 3 years.
- Earnings include an other income of Rs.1.90 Cr.
- Working capital days have increased from 71.7 days to 226 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Transport Services Logistics Solution Provider
Part of BSE SME IPO
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 42.66 | 57.87 | 69.31 | 65.09 | 77.21 | 65.01 | |
| 42.06 | 56.60 | 65.25 | 58.49 | 67.24 | 60.03 | |
| Operating Profit | 0.60 | 1.27 | 4.06 | 6.60 | 9.97 | 4.98 |
| OPM % | 1.41% | 2.19% | 5.86% | 10.14% | 12.91% | 7.66% |
| 0.05 | 0.09 | 0.18 | 0.52 | 0.51 | 1.90 | |
| Interest | 0.49 | 1.23 | 1.17 | 1.79 | 3.10 | 3.42 |
| Depreciation | 0.03 | 0.03 | 0.03 | 1.58 | 1.71 | 2.01 |
| Profit before tax | 0.13 | 0.10 | 3.04 | 3.75 | 5.67 | 1.45 |
| Tax % | 30.77% | 30.00% | 26.32% | 25.33% | 26.10% | -16.55% |
| 0.08 | 0.07 | 2.24 | 2.80 | 4.19 | 1.68 | |
| EPS in Rs | 16.00 | 0.07 | 0.24 | 0.30 | 0.44 | 0.12 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | -2% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 84% |
| 3 Years: | -9% |
| TTM: | -60% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 13% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 9.45 | 9.45 | 9.45 | 9.45 | 14.15 |
| Reserves | -2.72 | -2.65 | -0.41 | 2.39 | 6.58 | 57.15 |
| 13.71 | 11.77 | 13.11 | 19.22 | 33.66 | 25.49 | |
| 4.29 | 2.56 | 4.28 | 9.97 | 14.83 | 16.85 | |
| Total Liabilities | 15.33 | 21.13 | 26.43 | 41.03 | 64.52 | 113.64 |
| 6.06 | 0.13 | 0.12 | 7.44 | 6.61 | 23.96 | |
| CWIP | 0.00 | 7.36 | 9.53 | 1.17 | 6.58 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 2.02 | 3.52 | 3.52 |
| 9.27 | 13.64 | 16.78 | 30.40 | 47.81 | 86.16 | |
| Total Assets | 15.33 | 21.13 | 26.43 | 41.03 | 64.52 | 113.64 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -1.21 | -4.34 | 2.29 | -0.45 | -3.45 | -25.92 | |
| -1.84 | -2.26 | -3.43 | -3.98 | -7.90 | -16.02 | |
| 3.60 | 6.23 | 0.16 | 4.32 | 11.35 | 41.99 | |
| Net Cash Flow | 0.55 | -0.37 | -0.97 | -0.11 | 0.00 | 0.05 |
| Free Cash Flow | -3.10 | -5.80 | 0.10 | -0.99 | -9.75 | -38.70 |
| CFO/OP | -202% | -266% | 56% | -10% | -26% | -520% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 39.27 | 37.40 | 25.70 | 71.78 | 93.13 | 95.62 |
| Inventory Days | 0.00 | |||||
| Days Payable | ||||||
| Cash Conversion Cycle | 39.27 | 37.40 | 25.70 | 71.78 | 93.13 | 95.62 |
| Working Capital Days | -26.01 | 11.23 | -11.01 | -7.46 | -2.98 | 225.65 |
| ROCE % | 8.98% | 20.68% | 20.82% | 21.72% | 6.65% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Air Shipment Revenue Share % of total turnover |
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| Ocean Shipment Revenue Share % of total turnover |
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| Road Shipment Revenue Share % of total turnover |
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| SaaS Revenue Share % of total turnover |
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| Top 1 Customer Concentration % of turnover |
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| Top 5 Customer Concentration % of turnover |
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| UAE Revenue Share % of Total Revenue |
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Extracted by Screener AI
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Jul - Certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th June 2026.
-
Appointment of Company Secretary and Compliance Officer
4 Jul - Ms. Maithri K B appointed Company Secretary and Compliance Officer effective 7 July 2026.
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Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer
4 Jul - Company Secretary and Compliance Officer Jessica Juliana Mendonca resigned effective 6 July 2026.
-
Announcement under Regulation 30 (LODR)-Change in Management
4 Jul - Mohammed Sahim Haris appointed CFO, effective 7 July 2026.
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Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)
4 Jul - CFO Zeeshan Ali Mohammed Habibi resigned, effective close of business on 6 July 2026.
Business Profile[1]
Shipwaves Online Limited is a digital freight forwarding and logistics technology company, headquartered in Mangalore, Karnataka. It provides a comprehensive digital platform for multimodal transportation (Ocean, Air, and Land), integrating freight forwarding with Enterprise SaaS solutions.