Western Carriers (India) Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹960 Cr
- P/E
- 26.13
- ROE
- 4.58%
- PEG
- -1.40
- Price to sales
- 0.51
- Debt to equity
- 0.26
- 52W high / low
- ₹135 / ₹77.9
- Sales growth (5Y)
- 10.50%
- EBITDA margin
- 4.41%
- Net profit margin
- 2.12%
- Promoter holding
- 73.30%
- Sales (last year)
- ₹1,878 Cr
Incorporated in 1972, Western Carriers (India) Ltd provides end-to-end supply chain management[1]
Guidance scorecard · Q1 FY27 call
What Western Carriers (India) Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
10–20%- The company achieved robust growth with Q1 FY27 revenue at INR465 crores, a 12%+ increase year-on-year.
- Container volumes grew by nearly 15% year-on-year, with domestic TEUs up 37% and EXIM TEUs up 3.2%.
- Domestic business now accounts for ~40% of total volumes, up from ~30%, driven by specialized containers and DSO business.
- The company expects continued strong growth in both top line and bottom line, supported by diversified offerings and expanding domestic operations.
- Capex plans for FY27 are approximately INR100 crores, focused on specialized equipment and multi-modal infrastructure aligned with customer commitments and market conditions.
2 more points from Western Carriers (India) Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Western Carriers (India) Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Western Carriers plans a capex program of approximately INR 100 crores for FY27.
- Investments will focus on growth opportunities across specialized equipment, container assets, multi-modal infrastructure, and tech-led solutions.
- Capex decisions are customer-driven and linked to volume visibility and prevailing market conditions.
- The company follows an asset-light but asset-right approach, focusing on operational flexibility and service reliability.
- Investments aim to run and strengthen supply chains critical to customers, avoiding supply chain failures.
2 more points from Western Carriers (India) Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Western Carriers (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- The company is experiencing robust growth in domestic specialized container demand, having placed an order for 150 specialized 40-feet containers during the financial year; 50 have been delivered, and 100 are scheduled for delivery this quarter.
- Growth opportunities are being evaluated across specialized equipment, container assets, multimodal infrastructure, and tech-led solutions with an envisaged capex of approximately INR 100 crores for FY27, linked to customer commitments and volume visibility.
- The company is focused on scaling domestic business and has pivoted away from EXIM dependency, showing increasing traction in specialized and complex supply chain services.
- Ongoing projects such as the Devaliya MMCT terminal represent significant infrastructure commitments underpinning future growth.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | 40%+ | Flat | ₹16,984 Cr | 98.6 | |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
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Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of Western Carriers (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Western Carriers (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 401.57 | 425.85 | 456.71 | 401.64 | 422.71 | 431.43 | 443.00 | 428.58 | 415.82 | 439.62 | 478.09 | 495.72 |
| Expenses + | 370.26 | 392.29 | 419.36 | 357.81 | 387.25 | 395.29 | 419.61 | 403.63 | 395.02 | 420.79 | 454.17 | 474.29 |
| Operating Profit | 31.31 | 33.56 | 37.35 | 43.83 | 35.46 | 36.14 | 23.39 | 24.95 | 20.80 | 18.83 | 23.92 | 21.43 |
| OPM % | 7.80% | 7.88% | 8.18% | 10.91% | 8.39% | 8.38% | 5.28% | 5.82% | 5.00% | 4.28% | 5.00% | 4.32% |
| Other Income + | 1.27 | 1.13 | 1.86 | 1.51 | 1.38 | 1.88 | 5.11 | 4.85 | 4.17 | 4.36 | 2.76 | 3.26 |
| Interest | 4.46 | 4.76 | 6.21 | 6.75 | 6.08 | 6.72 | 4.51 | 4.21 | 4.53 | 4.53 | 4.14 | 5.25 |
| Depreciation | 4.80 | 5.03 | 5.59 | 5.82 | 5.23 | 5.77 | 6.18 | 6.62 | 5.74 | 6.50 | 7.89 | 8.19 |
| Profit before tax | 23.32 | 24.90 | 27.41 | 32.77 | 25.53 | 25.53 | 17.81 | 18.97 | 14.70 | 12.16 | 14.65 | 11.25 |
| Tax % | 25.17% | 26.55% | 25.61% | 26.15% | 25.97% | 25.77% | 25.88% | 25.78% | 26.60% | 26.48% | 26.08% | 26.58% |
| Net Profit + | 17.46 | 18.30 | 20.39 | 24.20 | 18.90 | 18.96 | 13.20 | 14.08 | 10.79 | 8.95 | 10.83 | 8.26 |
| 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 | 0.81 |
Financials of Western Carriers (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,726 | 1,829 |
| Expenses + | 994 | 1,029 | 1,367 | 1,511 | 1,540 | 1,605 | 1,744 |
| Operating Profit | 73 | 81 | 104 | 122 | 146 | 121 | 85 |
| OPM % | 7% | 7% | 7% | 7% | 9% | 7% | 5% |
| Other Income + | 6 | 4 | 5 | 5 | 6 | 13 | 15 |
| Interest | 14 | 13 | 14 | 16 | 22 | 22 | 18 |
| Depreciation | 14 | 12 | 12 | 15 | 21 | 24 | 28 |
| Profit before tax | 52 | 60 | 83 | 96 | 108 | 88 | 53 |
| Tax % | 31% | 26% | 27% | 26% | 26% | 26% | 26% |
| Net Profit + | 36 | 45 | 61 | 72 | 80 | 65 | 39 |
| EPS in Rs | 9.11 | 11.32 | 15.54 | 9.09 | 10.21 | 6.39 | 3.81 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Western Carriers (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 39 | 51 | 51 |
| Reserves | 112 | 157 | 218 | 279 | 359 | 777 | 816 |
| Borrowings + | 102 | 141 | 150 | 215 | 269 | 176 | 226 |
| Other Liabilities + | 105 | 88 | 83 | 70 | 86 | 100 | 113 |
| Total Liabilities | 359 | 425 | 490 | 604 | 754 | 1,104 | 1,205 |
| Fixed Assets + | 73 | 73 | 74 | 91 | 105 | 154 | 206 |
| CWIP | 0 | 1 | 9 | 17 | 0 | 15 | 31 |
| Investments | 3 | 3 | 1 | 4 | 3 | 3 | 3 |
| Other Assets + | 283 | 349 | 406 | 492 | 646 | 932 | 965 |
| Total Assets | 359 | 425 | 490 | 604 | 754 | 1,104 | 1,205 |
Financials of Western Carriers (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 81 | -26 | 5 | 2 | 1 | -3 | -22 |
| Cash from Investing Activity + | -24 | -2 | -3 | -36 | -40 | -241 | 2 |
| Cash from Financing Activity + | -54 | 26 | -3 | 33 | 40 | 247 | 25 |
| Net Cash Flow | 3 | -3 | -1 | -1 | 0 | 3 | 4 |
| Free Cash Flow | 71 | -38 | -10 | -40 | -35 | -90 | -102 |
| CFO/OP | 122% | -15% | 30% | 28% | 15% | 21% | 17% |
Financials of Western Carriers (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 64 | 83 | 77 | 87 | 114 | 131 | 139 |
| Inventory Days | 0 | ||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 64 | 83 | 77 | 87 | 114 | 131 | 139 |
| Working Capital Days | 21 | 39 | 38 | 45 | 58 | 96 | 94 |
| ROCE % | 25% | 26% | 24% | 22% | 13% | 7% |
Guidance history
How Western Carriers (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 0–10% | Up 2%+ | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
22 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −27.3% | 28% |
| Last 6 months | −8.4% | 42% |
| Last 3 months | +4.6% | 75% |
The price is 41.4% below its all-time high of ₹160.59 (27 Sept 2024). Stocks more than 20% below their peak have their score halved, so 43 became 22.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Western Carriers (India) Ltd: 0.4 × 28 + 0.4 × 42 + 0.2 × 75 = 43, halved to 22 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Western Carriers (India) Ltd's management said in earlier quarters
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