Western Carriers (India) Ltd
Incorporated in March 2011, Western Carriers (India) Limited is a Multi-modal, rail-focused, 4PL asset-light logistics company.[1]
- Market Cap ₹ 960 Cr.
- Current Price ₹ 94.1
- High / Low ₹ 177 / 65.1
- Stock P/E 14.7
- Book Value ₹ 81.2
- Dividend Yield 0.00 %
- ROCE 13.1 %
- ROE 10.6 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Stock is trading at 1.16 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.
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 1,034 | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,726 | |
| 982 | 996 | 1,029 | 1,367 | 1,511 | 1,540 | 1,606 | |
| Operating Profit | 52 | 72 | 81 | 104 | 122 | 146 | 120 |
| OPM % | 5% | 7% | 7% | 7% | 7% | 9% | 7% |
| 5 | 6 | 4 | 5 | 5 | 6 | 13 | |
| Interest | 13 | 12 | 13 | 14 | 16 | 22 | 22 |
| Depreciation | 10 | 12 | 12 | 12 | 15 | 21 | 24 |
| Profit before tax | 33 | 53 | 60 | 83 | 96 | 108 | 88 |
| Tax % | 34% | 30% | 26% | 27% | 26% | 26% | 26% |
| 22 | 37 | 45 | 61 | 72 | 80 | 65 | |
| EPS in Rs | 5.50 | 9.51 | 11.31 | 15.53 | 9.09 | 10.21 | 6.39 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 5% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 2% |
| TTM: | -19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| 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 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 39 | 39 | 51 |
| Reserves | 73 | 110 | 157 | 218 | 279 | 359 | 777 |
| 141 | 100 | 141 | 145 | 207 | 269 | 176 | |
| 107 | 105 | 87 | 82 | 70 | 86 | 100 | |
| Total Liabilities | 360 | 355 | 425 | 485 | 596 | 754 | 1,104 |
| 71 | 67 | 73 | 76 | 91 | 105 | 154 | |
| CWIP | 0 | 0 | 1 | 2 | 7 | 0 | 15 |
| Investments | 3 | 4 | 4 | 1 | 5 | 3 | 3 |
| 286 | 283 | 348 | 406 | 493 | 646 | 932 | |
| Total Assets | 360 | 355 | 425 | 485 | 596 | 754 | 1,104 |
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 |
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 | 49 | 45 | 72 | 70 | 84 | 111 | 128 |
| ROCE % | 26% | 25% | 26% | 24% | 22% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
19 May - Audio recording of Q4 and FY 2025 earnings conference call released.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
19 May - Investor Presentation on the audited financial results for the quarter and year ended March 31, 2025
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
18 May - Newspaper publication relating to the Audited Financial Results for the quarter and the year ended March 31, 2025
-
Reappointment Of Internal Auditors For FY 2025-26
16 May - Appointment of Secretarial Auditor for 5 years and Internal Auditor for FY 2025-26.
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Appointment Of Secretarial Auditor
16 May - Appointed Secretarial Auditor for 5 years and re-appointed Internal Auditor for FY 2025-26.
Concalls
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May 2025TranscriptNotesPPT REC
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Feb 2025TranscriptPPT
-
Nov 2024TranscriptPPT
Business Service[1]
- 3PL/4PL Services
- Courier Services
- Air Freight
- Water Freight
- Warehousing
- Project Logistics
- Road/Rail Transport
Their value-added services span the entire supply chain, from production and packaging to export, arrival, customs clearance, and multimodal transport, ensuring efficient and customized logistics solutions for clients.