Western Carriers (India) Ltd
Incorporated in 1972, Western Carriers (India) Ltd provides end-to-end supply chain management[1]
- Market Cap ₹ 1,245 Cr.
- Current Price ₹ 123
- High / Low ₹ 177 / 65.1
- Stock P/E 21.8
- Book Value ₹ 81.2
- Dividend Yield 0.00 %
- ROCE 13.1 %
- ROE 10.6 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
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 66.2 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,726 | 1,719 | |
| 994 | 1,029 | 1,367 | 1,511 | 1,540 | 1,606 | 1,614 | |
| Operating Profit | 73 | 81 | 104 | 122 | 146 | 120 | 105 |
| OPM % | 7% | 7% | 7% | 7% | 9% | 7% | 6% |
| 6 | 4 | 5 | 5 | 6 | 13 | 16 | |
| Interest | 14 | 13 | 14 | 16 | 22 | 22 | 20 |
| Depreciation | 14 | 12 | 12 | 15 | 21 | 24 | 24 |
| Profit before tax | 52 | 60 | 83 | 96 | 108 | 88 | 77 |
| Tax % | 31% | 26% | 27% | 26% | 26% | 26% | |
| 36 | 45 | 61 | 72 | 80 | 65 | 57 | |
| EPS in Rs | 9.11 | 11.32 | 15.54 | 9.09 | 10.21 | 6.39 | 5.59 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 5% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 2% |
| TTM: | -30% |
| 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
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 39 | 51 |
| Reserves | 112 | 157 | 218 | 279 | 359 | 777 |
| 102 | 141 | 150 | 215 | 269 | 176 | |
| 105 | 88 | 83 | 70 | 86 | 100 | |
| Total Liabilities | 359 | 425 | 490 | 604 | 754 | 1,104 |
| 73 | 73 | 74 | 91 | 105 | 154 | |
| CWIP | 0 | 1 | 9 | 17 | 0 | 15 |
| Investments | 3 | 3 | 1 | 4 | 3 | 3 |
| 283 | 349 | 406 | 492 | 646 | 932 | |
| Total Assets | 359 | 425 | 490 | 604 | 754 | 1,104 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 81 | -26 | 5 | 2 | 1 | -3 | |
| -24 | -2 | -3 | -36 | -40 | -241 | |
| -54 | 26 | -3 | 33 | 40 | 247 | |
| Net Cash Flow | 3 | -3 | -1 | -1 | 0 | 3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 64 | 83 | 77 | 87 | 114 | 131 |
| Inventory Days | 0 | |||||
| Days Payable | ||||||
| Cash Conversion Cycle | 64 | 83 | 77 | 87 | 114 | 131 |
| Working Capital Days | 21 | 39 | 38 | 45 | 58 | 96 |
| ROCE % | 25% | 26% | 24% | 22% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
29 Aug - Newspaper Publication- Disclosure under reg 30 and 47 of SEBI (LODR) Reg 2015
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Board Meeting Outcome for Board Meeting Held Today I.E., Thursday, August 28, 2025
28 Aug - Board approved FY25 report; AGM Sept 27, 2025; e-voting Sept 24–26; book closure Sept 21–27.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
21 Aug - Transcript of the Earnings Conference Call held on Monday, August 18, 2025 at 10:30 AM (IST)
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
18 Aug - Audio recording posted of Western Carriers' earnings call for quarter ended June 30, 2025 (held Aug 18, 2025).
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
18 Aug - The officials of Western Carriers (India) Ltd ('the Company') will be interacting with Analysts / Investors as per schedule.
Concalls
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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.