Waterways Leisure Tourism (CORDELIA) had a P/E of 56.6× on 6 Nov 2026, above the industry P/E of 23.5×, and the shares are 26% below their 52-week high. Sales grew 6.3% a year over 3 years while net profit fell 1.9%, with ROCE of 60% and ROE of 92%. Debt is 0.61× equity. It is a small-cap company with a market cap of ₹6,392 Cr, ranked 8th of 15 Marine Shipping companies by market cap; the shares rose 32% over the past year.
- ₹90.12
- ₹90.12
- ₹87.07
- ₹90.12
- 4 L
Health check
- ReturnsIn line
+32.2% over a year, better than 4 of 7 peers.
- Price tagPricier
P/E 56.6 vs industry 23.5.
- GrowthSlow
Sales +6.3%, profit −1.9% a year over 3 years.
- ProfitabilityStrong
ROCE 59.8% vs peer median 13.8%.
- Balance sheetStretched
Debt 0.61× equity, interest covered 10.7×, Piotroski 3 of 9.
- Red flags1 to check
P/E of 56.6 against an industry P/E of 23.5.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹6,392 Cr
- Small cap
- P/E
- 56.6
- Industry 23.5
- Price to book
- 8.35
- Peers 4.36
- Dividend yield
- 0.00%
- ROE
- 92.1%
- Peers 18.8%
- ROCE
- 59.8%
- Peers 13.8%
- Debt to equity
- 0.61
- Debt ₹443 Cr
- EPS (TTM)
- ₹1.56
- Face value ₹1
- OPM (TTM)
- 21.1%
- Net margin 17.2%
- Sales growth
- +30.9%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 10.23
- EV/EBITDA 53.4
Strengths and risks
Strengths
- Return on equity of 92.1%.
- Return on capital employed of 59.8%.
- Quarterly sales up 30.9% on a year ago.
Risks to check
- P/E of 56.6 against an industry P/E of 23.5.
About Waterways Leisure Tourism
Waterways Leisure Tourism Limited operates a domestic ocean cruise vessel in India and internationally. The company also engages in the cruise lines, shipping, organizing, and conducting cruises, tours, holidays, and related services. In addition, it provides entertainment, accommodation, dining, bars and lounges, restaurants, and other activities. Waterways Leisure Tourism Limited was incorporated in 2020 and is based in Mumbai, India. Waterways Leisure…
- Headquarters
- Mumbai
- Employees
- 245
- Sector
- Industrials
- ISIN
- INE0LZF01039
- Website
- cordeliacruises.com
Price range
- Avg volume (3M)
- 29.3 L
- 1-year return
- plus 32.2%
- From 52-week high
- minus 25.5%
Peers · Marine Shipping
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPORTSAdani Ports and Special Economic Zone | 1,936.60 | plus 2.76% | 4,46,185 | 32.3 | 4.36 | 11.0% | 15.6% | 44.0% | 22.9% | 34.1% | 0.39% | plus 30.5% |
| JSWINFRAJSW Infrastructure | 338.30 | minus 2.31% | 78,692 | 50.3 | 4.42 | 12.0% | 9.9% | 36.2% | 19.0% | 27.2% | 0.27% | plus 19.5% |
| GESHIPGreat Eastern Shipping Co. | 1,428.70 | minus 2.14% | 19,236 | 4.6 | 1.20 | 17.4% | 18.8% | 42.5% | −1.6% | 4.5% | 4.03% | plus 38.6% |
| SHREEJISPGShreeji Shipping Global | 884.55 | plus 2.40% | 14,411 | 88.7 | 18.71 | – | 21.1% | 24.4% | −5.4% | 8.7% | 0.23% | plus 219.9% |
| SCIShipping Corporation of India | 261.07 | minus 0.90% | 12,161 | 6.1 | 1.34 | 14.1% | 15.5% | 23.5% | −0.1% | 15.8% | 2.80% | plus 5.3% |
| KMEWKnowledge Marine & Engineering Works | 652.80 | minus 79.23% | 8,279 | 60.7 | 14.00 | 13.4% | 20.0% | 39.9% | 7.6% | 18.8% | 0.00% | plus 125.5% |
| GPPLGujarat Pipavav Port | 166.49 | plus 3.23% | 8,052 | 14.6 | 3.37 | 26.7% | 21.8% | 52.0% | 6.6% | 18.0% | 6.06% | minus 0.9% |
| CORDELIAWaterways Leisure Tourism | 88.29 | minus 2.03% | 6,392 | 56.6 | 8.35 | 59.8% | 92.1% | 21.1% | 6.3% | −1.9% | 0.00% | plus 32.2% |
| Median of 7 peers | – | −0.90% | 14,411 | 32.3 | 4.36 | 13.8% | 18.8% | 39.9% | 6.6% | 18.0% | 0.39% | 30.5% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Sep 25 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 181 | 1,763 | 102 | 1,901 | 133 | |
| – | – | – | +7.8% | +30.9% | |
| 106 | 1,286 | 116 | 1,541 | 133 | |
| 74.5 | 477 | −14 | 360 | 0.1 | |
| 41.3% | 27.1% | −13.8% | 18.9% | 0.0% | |
| 0.3 | 10.3 | 4 | 15 | 18.3 | |
| 3.2 | 13.3 | 1.5 | 44.5 | 8.7 | |
| 19.9 | – | – | – | – | |
| −0.1 | – | – | – | 49.5 | |
| 51.7 | 474 | −11.5 | 331 | 59.1 | |
| 44.0% | 26.5% | 22.2% | 31.1% | 1.0% | |
| 28.9 | 348 | −8.9 | 228 | 58.5 | |
| – | 4.80 | -0.12 | 3.15 | 0.85 |
Profit & loss
- Sales CAGR 3Y
- +6.3%
- Profit CAGR 3Y
- −1.9%
- EPS CAGR 3Y
- −1.9%
- ROE
- 92.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 482 | 441 | 590 | 579 | |
| – | minus 8.4% | +33.6% | minus 1.7% | |
| 329 | 332 | 370 | 464 | |
| 153 | 109 | 220 | 116 | |
| 31.7% | 24.7% | 37.2% | 19.9% | |
| −8.3 | 2 | −3.9 | 1.3 | |
| 13.8 | 35.1 | 38.5 | 8.1 | |
| 74.8 | 184 | 63 | 30.5 | |
| −0.8 | −14.4 | 75.5 | −0 | |
| 55.3 | −123 | 190 | 78.2 | |
| – | 0.0% | 11.3% | 33.4% | |
| 55.3 | −123 | 168 | 52.1 | |
| – | minus 321.9% | – | minus 69.0% | |
| 0.76 | -1.70 | 2.32 | 0.72 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 64.7 | 64.7 | 64.9 | 65.2 | |
| −59.5 | −183 | −31.9 | 15.1 | |
| 150 | 293 | 55.9 | 118 | |
| 152 | 224 | 158 | 144 | |
| 307 | 399 | 247 | 342 | |
| 219 | 318 | 90.8 | 71.5 | |
| – | 6.8 | 4.6 | 2.9 | |
| 18.3 | 17.2 | 83.1 | 13.9 | |
| 69.9 | 57.6 | 69 | 253 | |
| 307 | 399 | 247 | 342 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 183 | 230 | 130 | −96.4 | |
| −18.4 | −74.5 | −66 | 10.5 | |
| −161 | −146 | −48 | 58.6 | |
| 3.8 | 9.2 | 15.7 | −27.3 | |
| −1.6 | −73.5 | −15.2 | −14.5 | |
| 181 | 157 | 114 | −111 |
Shareholding pattern
- Promoters89.35%
- Public10.65%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 89.35% | 10.65% | 0.00 | |
| 30 Jun 2026 | 89.35% | 10.65% | – |
Major shareholders
Filings & events
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