Western Carriers (India) Ltd
Incorporated in 1972, Western Carriers (India) Ltd provides end-to-end supply chain management[1]
- Market Cap ₹ 1,045 Cr.
- Current Price ₹ 102
- High / Low ₹ 147 / 77.0
- Stock P/E 26.9
- Book Value ₹ 85.0
- Dividend Yield 0.00 %
- ROCE 6.79 %
- ROE 4.58 %
- Face Value ₹ 5.00
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 10.5% over past five years.
- Company has a low return on equity of 10.1% over last 3 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.
Peer comparison
Services Services Transport Services Logistics Solution Provider
Part of BSE Services
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 1,034 | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,726 | 1,829 | |
| 982 | 996 | 1,029 | 1,367 | 1,511 | 1,540 | 1,605 | 1,744 | |
| Operating Profit | 52 | 72 | 81 | 104 | 122 | 146 | 121 | 85 |
| OPM % | 5% | 7% | 7% | 7% | 7% | 9% | 7% | 5% |
| 5 | 6 | 4 | 5 | 5 | 6 | 13 | 15 | |
| Interest | 13 | 12 | 13 | 14 | 16 | 22 | 22 | 18 |
| Depreciation | 10 | 12 | 12 | 12 | 15 | 21 | 24 | 28 |
| Profit before tax | 33 | 53 | 60 | 83 | 96 | 108 | 88 | 53 |
| Tax % | 34% | 30% | 26% | 27% | 26% | 26% | 26% | 26% |
| 22 | 37 | 45 | 61 | 72 | 80 | 65 | 39 | |
| EPS in Rs | 5.50 | 9.51 | 11.31 | 15.53 | 9.09 | 10.21 | 6.39 | 3.81 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 4% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -3% |
| 3 Years: | -18% |
| TTM: | -40% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 10% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 39 | 39 | 51 | 51 |
| Reserves | 73 | 110 | 157 | 218 | 279 | 359 | 777 | 816 |
| 141 | 100 | 141 | 145 | 207 | 269 | 176 | 226 | |
| 107 | 105 | 87 | 82 | 70 | 86 | 100 | 113 | |
| Total Liabilities | 360 | 355 | 425 | 485 | 596 | 754 | 1,104 | 1,205 |
| 71 | 67 | 73 | 76 | 91 | 105 | 154 | 206 | |
| CWIP | 0 | 0 | 1 | 2 | 7 | 0 | 15 | 31 |
| Investments | 3 | 4 | 4 | 1 | 5 | 3 | 3 | 3 |
| 286 | 283 | 348 | 406 | 493 | 646 | 932 | 965 | |
| Total Assets | 360 | 355 | 425 | 485 | 596 | 754 | 1,104 | 1,205 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 34 | 64 | -26 | 5 | 2 | 1 | -3 | -22 | |
| -21 | -6 | -2 | 2 | -33 | -40 | -241 | 2 | |
| -8 | -51 | 26 | -8 | 30 | 40 | 247 | 25 | |
| Net Cash Flow | 5 | 8 | -3 | -1 | -1 | 1 | 3 | 4 |
| Free Cash Flow | 11 | 56 | -38 | -5 | -37 | -35 | -90 | -102 |
| CFO/OP | 85% | 101% | -15% | 30% | 28% | 15% | 21% | 17% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71 | 65 | 83 | 77 | 87 | 114 | 131 | 139 |
| Inventory Days | 0 | |||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 71 | 65 | 83 | 77 | 87 | 114 | 131 | 139 |
| Working Capital Days | 14 | 22 | 39 | 38 | 46 | 58 | 96 | 94 |
| ROCE % | 26% | 25% | 26% | 24% | 22% | 13% | 7% |
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 |
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| Total TEU Volume TEUs |
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| Number of Customers Number |
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| Owned GPS-enabled Trucks Number |
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| Owned Heavy Equipment Number |
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| Shipping Containers Owned Number |
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| Number of Branches Number |
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| Number of Warehouses Number |
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Extracted by Screener AI
Documents
Announcements
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Disclosure Under Regulation 29 (2) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011
17 Jun - Promoter-Chairman Rajendra Sethia bought 20,000 shares on June 16, 2026, raising holding to 72.804%.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 17 Jun
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Intimation Of Award Received
6 Jun - Western Carriers won the Multimodal Logistics Excellence award at ICC's Excellence in Motion 2026.
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Disclosure Under Regulation 29 (2) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011
6 Jun - Promoter Rajendra Sethia bought 16,585 shares on June 5, 2026, raising holding to 72.784%.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Submitted Annual Secretarial Compliance Report for FY ended March 31, 2026; no non-compliances reported.
Concalls
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025TranscriptPPT
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Nov 2024TranscriptPPT
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.