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 ₹ 43.7 Cr.
- Current Price ₹ 3.09
- High / Low ₹ 12.0 / 2.55
- Stock P/E 26.0
- 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 0.61 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 68.9 days to 217 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 | 16.86 | |
| Total Liabilities | 15.33 | 21.13 | 26.43 | 41.03 | 64.52 | 113.65 |
| 6.06 | 0.13 | 0.12 | 7.44 | 6.61 | 23.50 | |
| CWIP | 0.00 | 7.36 | 9.53 | 1.17 | 6.58 | 0.46 |
| Investments | 0.00 | 0.00 | 0.00 | 2.02 | 3.52 | 3.52 |
| 9.27 | 13.64 | 16.78 | 30.40 | 47.81 | 86.17 | |
| Total Assets | 15.33 | 21.13 | 26.43 | 41.03 | 64.52 | 113.65 |
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 / 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 | ||||||
| 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 | 217.17 |
| 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
- Intimation of Compliance Certificate under Reg. 74(5) of SEBI(DP) Regulations.
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
-
Intimation Of Receipt Of GST Show Cause Notice.
- Shipwaves Online received GST DRC-01 notice for FY23, proposing ₹1.92 crore dues including tax, interest and penalty.
-
Intimation Of Receipt Of Order From NFAC.
- NFAC dismissed Shipwaves’ AY25 appeal, upholding ₹72.67 lakh tax demand and additions.
- Shareholder Meeting / Postal Ballot-Outcome of AGM
Business Overview:[1][2]
SOL is a LEAPS-recognized MSME - Logistics Service company that provides a scalable, cloud-based platform that helps shippers manage their end-to-end freight forwarding logistics needs through a single, user-friendly interface. The company offers a range of services to its customers, including instant rates, quick quotes, online booking, and real-time visibility. Currently, it has ~36,000 TEUs