Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 425.85 | 456.71 | 401.64 | 422.71 | 431.43 | 443.00 | 428.58 | 415.82 | 439.62 | 478.09 | 495.72 | 464.88 |
| Expenses | 392.29 | 419.36 | 357.81 | 387.25 | 395.29 | 419.61 | 403.63 | 395.02 | 420.79 | 454.17 | 474.29 | 446.20 |
| Operating Profit | 33.56 | 37.35 | 43.83 | 35.46 | 36.14 | 23.39 | 24.95 | 20.80 | 18.83 | 23.92 | 21.43 | 18.68 |
| OPM % | 7.88% | 8.18% | 10.91% | 8.39% | 8.38% | 5.28% | 5.82% | 5.00% | 4.28% | 5.00% | 4.32% | 4.02% |
| Other Income | 1.13 | 1.86 | 1.51 | 1.38 | 1.88 | 5.11 | 4.85 | 4.17 | 4.36 | 2.76 | 3.26 | 3.51 |
| Interest | 4.76 | 6.21 | 6.75 | 6.08 | 6.72 | 4.51 | 4.21 | 4.53 | 4.53 | 4.14 | 5.25 | 3.69 |
| Depreciation | 5.03 | 5.59 | 5.82 | 5.23 | 5.77 | 6.18 | 6.62 | 5.74 | 6.50 | 7.89 | 8.19 | 6.63 |
| Profit before tax | 24.90 | 27.41 | 32.77 | 25.53 | 25.53 | 17.81 | 18.97 | 14.70 | 12.16 | 14.65 | 11.25 | 11.87 |
| Tax % | 26.55% | 25.61% | 26.15% | 25.97% | 25.77% | 25.88% | 25.78% | 26.60% | 26.48% | 26.08% | 26.58% | 26.79% |
| Net Profit | 18.30 | 20.39 | 24.20 | 18.90 | 18.96 | 13.20 | 14.08 | 10.79 | 8.95 | 10.83 | 8.26 | 8.69 |
| EPS in Rs | 2.33 | 2.59 | 3.07 | 2.40 | 1.86 | 1.29 | 1.38 | 1.06 | 0.88 | 1.06 | 0.81 | 0.85 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,726 | 1,829 | 1,878 |
| Expenses | 994 | 1,029 | 1,367 | 1,511 | 1,540 | 1,605 | 1,744 | 1,795 |
| Operating Profit | 73 | 81 | 104 | 122 | 146 | 121 | 85 | 83 |
| OPM % | 7% | 7% | 7% | 7% | 9% | 7% | 4.7% | 4.4% |
| Other Income | 6 | 4 | 5 | 5 | 6 | 13 | 15 | 14 |
| Interest | 14 | 13 | 14 | 16 | 22 | 22 | 19 | 18 |
| Depreciation | 14 | 12 | 12 | 15 | 21 | 24 | 28 | 29 |
| Profit before tax | 52 | 60 | 83 | 96 | 108 | 88 | 53 | 50 |
| Tax % | 31% | 26% | 27% | 26% | 26% | 26% | 26% | |
| Net Profit | 36 | 45 | 61 | 72 | 80 | 65 | 39 | 37 |
| EPS in Rs | 9.11 | 11.32 | 15.54 | 9.09 | 10.21 | 6.39 | 3.81 | 3.60 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 11% | 4% | 9% | ||
| Compounded Profit Growth | % | -3% | -18% | -36% | ||
| Stock Price CAGR | % | % | % | -28% | ||
| Return on Equity | % | 14% | 10% | 5% |
| 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 |
| 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% | 16% |
| 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% |
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 71.89% | 71.89% | 71.89% | 71.89% | 72.56% | 72.86% | 72.97% | 73.03% |
| FIIs | 4.22% | 1.40% | 0.29% | 0.30% | 0.61% | 0.25% | 0.04% | 0.00% |
| DIIs | 9.14% | 9.45% | 8.53% | 7.39% | 5.78% | 4.75% | 4.75% | 4.75% |
| Public | 14.75% | 17.25% | 19.27% | 20.41% | 21.04% | 22.14% | 22.24% | 22.22% |
| No. of Shareholders | 1,13,812 | 1,09,023 | 1,07,207 | 1,03,527 | 92,746 | 86,711 | 82,520 | 80,532 |
Fundamentals
Market Cap₹ 965 Cr.
Current Price₹ 94.9
Stock P/E26.3
Book Value₹ 85.0
ROCE6.83 %
ROE4.58 %
Dividend Yield0.00 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)-36%
Consolidated figures.
Valuation
Market capRs 732 Cr
Enterprise valueRs 928 Cr
P/E (TTM)19.93x
Price to book2.30x
Price to sales0.39x
EV / EBITDA9.59x
EV / EBIT13.74x
EV / sales0.49x
Price to cash flow391.43x
Earnings yield5.02%
Profitability
Operating margin (excl. other income)7.47%
Operating margin (incl. other income)7.77%
EBITDA margin5.15%
Pre-tax margin2.66%
Net profit margin1.96%
Net margin, latest quarter1.87%
ROE24.86%
ROCE23.70%
ROA13.08%
ROE, 3-year average25.79%
ROCE, 3-year average24.89%
ROA, 3-year average12.60%
ROIC (approx.)9.79%
Tax rate25.52%
Other income / net worth1.50%
Growth
Sales growth (latest year)11.03%
Profit growth (latest year)17.08%
Sales CAGR, 3 years15.23%
Profit CAGR, 3 years25.90%
Sales growth QoQ-6.22%
Profit growth QoQ5.21%
Sales growth YoY (latest quarter)11.80%
Profit growth YoY (latest quarter)-19.46%
Per share
EPS (TTM)Rs 4.67
EPS (latest year)Rs 9.09
EPS (latest quarter)Rs 1.10
EPS, 3-year averageRs 11.98
Book value per shareRs 40.46
Sales per shareRs 238.67
Cash flow per shareRs 0.24
Free cash flow per shareRs -12.96
Efficiency
Asset turnover2.70x
Fixed asset turnover17.96x
Debtor days87 days
Debtors turnover4.19x
Cash conversion cycle139 days
Working capital days94 days
Leverage
Total debtRs 215 Cr
Cash and bankRs 20 Cr
Net debtRs 196 Cr
Debt to equity0.68x
Net debt / EBITDA2.02x
Interest coverage3.84x
Current ratio (filing 2026-03-31)2.60x
Quick ratio (filing 2026-03-31)2.60x
Trade payables (filing 2026-03-31)Rs 83 Cr
Owners' fund to total sources52.70%
Debt to assets35.65%
Cash flow
Cash from Operating Activity (latest year)Rs 2 Cr
Cash from Investing Activity (latest year)Rs -36 Cr
Cash from Financing Activity (latest year)Rs 33 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -102 Cr
FCFE (approx.: FCF + change in debt)Rs -37 Cr
Cash from ops / profit, 5 years-0.05x
Sales to cash flow873.29x
Statement figures
Net sales (TTM)Rs 1,878 Cr
Net sales (latest year)Rs 1,633 Cr
Sales (latest quarter)Rs 465 Cr
Operating profit excl. other income (latest year)Rs 122 Cr
Operating profit (latest quarter)Rs 19 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 97 Cr
PBDT (TTM)Rs 79 Cr
Profit before tax (TTM)Rs 50 Cr
Tax (latest year)Rs 25 Cr
Net profit (TTM)Rs 37 Cr
Net profit (latest year)Rs 72 Cr
Net profit (latest quarter)Rs 9 Cr
Depreciation (TTM)Rs 29 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 18 Cr
Cost of goods sold (latest year)Rs 1,423 Cr
Total expenditure (latest year)Rs 1,511 Cr
Total income (latest year)Rs 1,638 Cr
Share capitalRs 39 Cr
ReservesRs 279 Cr
Shareholders' fundsRs 318 Cr
Total assetsRs 604 Cr
Net blockRs 91 Cr
Capital work in progressRs 17 Cr
InvestmentsRs 4 Cr
ReceivablesRs 390 Cr
Other liabilitiesRs 70 Cr
Shares outstanding (crore)7.87
Ownership
Promoter holding73.03% (+1.14 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 19.9 is at the 65th percentile of its own 2.2-year range
(median 18.3, low 8.0, high 27.4).
P/B 2.30 is at the 8th percentile (median 3.45).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | WCIL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.9% | -2.8% | -0.1 pts |
| 1 month | +9.6% | -6.8% | +16.3 pts |
| 3 months | -5.8% | -7.6% | +1.8 pts |
| 6 months | +19.4% | +0.4% | +19.0 pts |
| 1 year | -32.7% | -9.9% | -22.7 pts |
1 mutual fund schemes hold about ₹8 Cr.
Over three months 0 bought more and 1 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Kotak Business Cycle Fund | 0.24% | 8 | -16% |
Red flags
F-score 3 of 7| explain | Weak cash conversion Cash from operations was -11% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 12% of total assets in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Insider trades
NSE insider and takeover-code disclosures| Date | Who | Role | Side | Shares | Value | How |
|---|---|---|---|---|---|---|
| 2026-09-22 | Rajendra Sethia | Promoter group | buy | 105,000 | SAST Open Market |
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.
Latest quarter
Jun 2026Sales ₹465 Cr +11.8% vs Jun 2025.
Net profit ₹9 Cr -19.5%.
Against our estimate for Jun 2026: sales +0.0%, profit -13.1% in line. Our estimate for Sep 2026: sales Rs 500 Cr, profit Rs 10 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Container Corporation Of India Ltd | 33,778 | 27.2 | 12.6 % |
| Delhivery Ltd | 31,276 | 262 | 1.01 % |
| Shadowfax Technologies Ltd | 16,484 | 95.7 | 10.3 % |
| Blue Dart Express Ltd | 10,859 | 33.5 | 15.8 % |
| Transport Corporation of India Ltd | 6,674 | 14.6 | 19.4 % |
| TVS Supply Chain Solutions Ltd | 5,784 | 81.6 | 10.1 % |
| VRL Logistics Ltd | 4,946 | 18.5 | 18.3 % |
| Afcom Holdings Ltd | 4,248 | 29.0 | 28.0 % |
| Mahindra Logistics Ltd | 4,229 | 107 | 7.36 % |
| Gateway Distriparks Ltd | 2,577 | 10.5 | 10.8 % |
| TCI Express Ltd | 2,046 | 22.4 | 14.6 % |
| Skyways Air Services Ltd | 1,675 | 31.4 | 13.2 % |
| Allcargo Logistics Ltd | 1,580 | 34.4 | 4.83 % |
| Navkar Corporation Ltd | 1,302 | 32.6 | 3.06 % |
| Allcargo Global Ltd | 1,297 | -6.09 % |
No bulk or block deals on record.
No corporate actions on record.
| Date | Type | What it says |
|---|---|---|
| 2026-09-30 | Shareholder meeting | Voting results. |
| 2026-09-30 | Shareholder meeting | Proceedings of Annual General Meeting held on September 30, 2026 |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Western Carriers (India) Ltd?
Western Carriers (India) Ltd (WCIL) has a market capitalisation of Rs 965 Cr. at the 2026-10-01 close.
What is the P/E ratio of Western Carriers (India) Ltd?
Western Carriers (India) Ltd trades at a P/E of 26.3 on trailing twelve-month profit, at the 2026-10-01 close.
What were Western Carriers (India) Ltd's latest quarterly results?
In the Jun 2026 quarter, Western Carriers (India) Ltd sales was Rs 465 Cr (+11.8% vs Jun 2025) and net profit was Rs 9 Cr.
What is the 52-week high and low of Western Carriers (India) Ltd?
The 52-week high is Rs 138.29 and the 52-week low is Rs 77.02.