Western Carriers (India) Ltd

Western Carriers Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Western Carriers (India) Ltd

₹ 81.8 -8.00%
27 Mar - close price
western-carriers.com BSE: 544258 NSE: WCIL
About

Incorporated in 1972, Western Carriers (India) Ltd provides end-to-end supply chain management[1]

Key Points

Business Overview:[1]
WCIL is a Multi-modal, rail-focused, 4PL asset-light logistics company with a specialization in customized end-to-end supply chain solutions. The company is engaged in multi-modal logistics services (road, rail, and river transport, custom house agency, storage, and warehousing) and operates across the country. It has expertise in aspects of logistics like freight forwarding, shipping, air cargo, trucking, clearance, storage, C&F and distribution, and civil works.

Website BSE NSE
  • Market Cap ₹ 833 Cr.
  • Current Price ₹ 81.8
  • High / Low ₹ 147 / 65.1
  • Stock P/E 18.7
  • Book Value ₹ 83.1
  • Dividend Yield 0.00 %
  • ROCE 13.2 %
  • ROE 10.6 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Stock is trading at 0.98 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.1% over past five years.
  • Working capital days have increased from 66.4 days to 95.6 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 Allcap BSE Services

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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
402 426 457 402 423 431 443 429 416 440 478
370 392 419 358 387 395 420 404 395 421 454
Operating Profit 31 34 37 44 35 36 23 25 21 19 24
OPM % 8% 8% 8% 11% 8% 8% 5% 6% 5% 4% 5%
1 1 2 2 1 2 5 5 4 4 3
Interest 4 5 6 7 6 7 5 4 5 5 4
Depreciation 5 5 6 6 5 6 6 7 6 6 8
Profit before tax 23 25 27 33 26 26 18 19 15 12 15
Tax % 25% 27% 26% 26% 26% 26% 26% 26% 27% 26% 26%
17 18 20 24 19 19 13 14 11 9 11
EPS in Rs 2.22 2.33 2.59 3.07 2.40 1.86 1.29 1.38 1.06 0.88 1.06
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
1,034 1,067 1,110 1,471 1,633 1,686 1,726 1,762
982 996 1,029 1,367 1,511 1,540 1,605 1,674
Operating Profit 52 72 81 104 122 146 121 88
OPM % 5% 7% 7% 7% 7% 9% 7% 5%
5 6 4 5 5 6 13 16
Interest 13 12 13 14 16 22 22 17
Depreciation 10 12 12 12 15 21 24 27
Profit before tax 33 53 60 83 96 108 88 60
Tax % 34% 30% 26% 27% 26% 26% 26%
22 37 45 61 72 80 65 45
EPS in Rs 5.50 9.51 11.31 15.53 9.09 10.21 6.39 4.38
Dividend Payout % -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 5%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: 2%
TTM: -41%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 7%
Return on Equity
10 Years: %
5 Years: 19%
3 Years: 17%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 39 39 39 39 39 39 51 51
Reserves 73 110 157 218 279 359 777 796
141 100 141 145 207 269 176 193
107 105 87 82 70 86 100 113
Total Liabilities 360 355 425 485 596 754 1,104 1,153
71 67 73 76 91 105 154 178
CWIP -0 -0 1 2 7 -0 15 21
Investments 3 4 4 1 5 3 3 3
286 283 348 406 493 646 932 950
Total Assets 360 355 425 485 596 754 1,104 1,153

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
34 64 -26 5 2 1 -3
-21 -6 -2 2 -33 -40 -241
-8 -51 26 -8 30 40 247
Net Cash Flow 5 8 -3 -1 -1 1 3
Free Cash Flow 11 56 -38 -5 -37 -35 -90
CFO/OP 85% 101% -15% 30% 28% 15% 21%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 71 65 83 77 87 114 131
Inventory Days -0
Days Payable
Cash Conversion Cycle 71 65 83 77 87 114 131
Working Capital Days 14 22 39 38 46 58 96
ROCE % 26% 25% 26% 24% 22% 13%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Domestic TEU Volume
TEUs

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EXIM TEU Volume
TEUs
Total TEU Volume
TEUs
Number of Customers
Number
Owned GPS-enabled Trucks
Number
Owned Heavy Equipment
Number
Shipping Containers Owned
Number
Number of Branches
Number
Number of Warehouses
Number

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
71.89% 71.89% 71.89% 71.89% 72.56% 72.86%
4.22% 1.40% 0.29% 0.30% 0.61% 0.25%
9.14% 9.45% 8.53% 7.39% 5.78% 4.75%
14.75% 17.25% 19.27% 20.41% 21.04% 22.14%
No. of Shareholders 1,13,8121,09,0231,07,2071,03,52792,74686,711

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

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DRHP

Credit ratings

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