Western Carriers (India) (WCIL) had a P/E of 25.7× on 6 Nov 2026, above the industry P/E of 16.1×, and the shares are 29% below their 52-week high. Sales grew 3.9% a year over 3 years while net profit fell 18%, with ROCE of 7.9% and ROE of 4.6%. Debt is 0.26× equity. It is a small-cap company with a market cap of ₹942 Cr, ranked 14th of 43 Integrated Freight & Logistics companies by market cap; the shares fell 29% over the past year.
- ₹93.44
- ₹93.74
- ₹90.70
- ₹94.18
- 1.1 L
Health check
- ReturnsBehind
−29.1% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 25.7 vs industry 16.1.
- GrowthSlow
Sales +3.9%, profit −18.4% a year over 3 years.
- ProfitabilityWeak
ROCE 7.9% vs peer median 9.0%.
- Balance sheetStretched
Debt 0.26× equity, interest covered 4.1×, Piotroski 3 of 9.
- Red flags3 to check
Return on equity is low at 4.6%.
Small cap
High beta
Key metrics
- Market cap
- ₹942 Cr
- Small cap
- P/E
- 25.7
- Industry 16.1
- Price to book
- 1.09
- Peers 3.34
- Dividend yield
- 0.00%
- ROE
- 4.6%
- Peers 9.6%
- ROCE
- 7.9%
- Peers 9.0%
- Debt to equity
- 0.26
- Debt ₹226 Cr
- EPS (TTM)
- ₹3.60
- Face value ₹5
- OPM (TTM)
- 2.9%
- Net margin 2.0%
- Sales growth
- +11.8%
- Latest quarter vs a year ago
- Profit growth
- −19.4%
- Latest quarter vs a year ago
- Price to sales
- 0.50
- EV/EBITDA 13.5
Strengths and risks
Risks to check
- Return on equity is low at 4.6%.
- Quarterly profit down 19.4% on a year ago.
- P/E of 25.7 against an industry P/E of 16.1.
About Western Carriers (India)
Western Carriers (India) Limited provides logistics and allied services in India. The company provides single window logistics, multi-modal transportation, rail, road, cargo handling, custom house agency, and ocean and air freight services, as well as labelling, product packaging, customs clearance, stevedoring, palletizing, fumigation, pre-shipment inspection, and containerization services. It also operates warehouse/redistribution centers. Western…
- Headquarters
- Kolkata
- Employees
- 1,447
- Sector
- Industrials
- ISIN
- INE0CJF01024
- Website
- western-carriers.com
Price range
- Avg volume (3M)
- 1.7 L
- 1-year return
- minus 29.1%
- From 52-week high
- minus 29.0%
Peers · Integrated Freight & Logistics
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DELHIVERYDelhivery | 428.00 | minus 0.48% | 32,080 | 176.9 | 3.28 | 2.6% | 1.9% | 0.1% | 13.2% | – | 0.00% | minus 11.3% |
| SHADOWFAXShadowfax Technologies | 288.25 | minus 0.88% | 16,971 | 67.3 | 8.95 | – | 17.4% | 6.2% | 43.7% | – | 0.00% | plus 162.1% |
| BLUEDARTBlue Dart Express | 4,541.30 | minus 0.76% | 10,776 | 34.8 | 6.06 | 16.9% | 14.8% | 6.7% | 5.9% | −12.6% | 0.55% | minus 28.2% |
| TCITransport Corporation of India | 861.45 | minus 1.38% | 6,485 | 14.4 | 2.37 | 18.1% | 17.7% | 7.6% | 9.1% | 12.9% | 1.16% | minus 26.1% |
| LEAPINDLEAP India | 121.97 | plus 0.05% | 5,373 | 71.7 | 3.34 | 9.0% | 9.6% | 22.9% | 42.4% | 90.5% | 0.00% | minus 15.8% |
| TVSSCSTVS Supply Chain Solutions | 117.07 | minus 1.62% | 5,174 | 80.2 | 2.54 | 9.0% | 6.0% | 2.3% | 3.3% | 42.1% | 0.00% | minus 8.2% |
| MAHLOGMahindra Logistics | 421.10 | plus 0.10% | 4,181 | 55.8 | 3.48 | – | 7.1% | 2.3% | – | – | 0.59% | plus 22.2% |
| WCILWestern Carriers (India) | 92.36 | minus 1.93% | 942 | 25.7 | 1.09 | 7.9% | 4.6% | 2.9% | 3.9% | −18.4% | 0.00% | minus 29.1% |
| Median of 7 peers | – | −0.76% | 6,485 | 67.3 | 3.34 | 9.0% | 9.6% | 6.2% | 11.2% | 27.5% | 0.00% | −11.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 416 | 440 | 478 | 496 | 465 | |
| 401 | 427 | 462 | 482 | 453 | |
| 15.1 | 12.3 | 16 | 13.2 | 12 | |
| 3.6% | 2.8% | 3.4% | 2.7% | 2.6% | |
| 4.2 | 4.4 | 2.8 | 3.3 | 3.5 | |
| 4.5 | 4.5 | 4.1 | 5.3 | 3.7 | |
| 14.7 | 12.2 | 14.7 | 11.3 | 11.9 | |
| 26.6% | 26.4% | 26.1% | 26.6% | 26.8% | |
| 10.8 | 8.9 | 10.8 | 8.3 | 8.7 | |
| 1.06 | 0.88 | 1.06 | 0.81 | 0.85 |
Profit & loss
- Sales CAGR 3Y
- +3.9%
- Profit CAGR 3Y
- −18.4%
- EPS CAGR 3Y
- −18.4%
- ROE
- 4.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,633 | 1,686 | 1,726 | 1,829 | |
| – | +3.2% | +2.4% | +6.0% | |
| 1,511 | 1,540 | 1,605 | 1,744 | |
| 122 | 146 | 121 | 85.4 | |
| 7.5% | 8.7% | 7.0% | 4.7% | |
| 2.7 | 3.6 | 10.3 | 12.2 | |
| 14.5 | 20.7 | 20.1 | 17 | |
| 15.3 | 21.2 | 23.8 | 28.3 | |
| 0.9 | 0.6 | 1 | 0.5 | |
| 96.1 | 108 | 87.8 | 52.8 | |
| 25.5% | 25.9% | 25.8% | 26.4% | |
| 71.6 | 80.3 | 65.1 | 38.8 | |
| – | +12.3% | minus 18.9% | minus 40.4% | |
| 7.02 | 7.88 | 7.16 | 3.81 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.4 | 39.4 | 51 | 51 | |
| 279 | 359 | 777 | 816 | |
| 215 | 269 | 176 | 226 | |
| 70.4 | 86.3 | 99.8 | 113 | |
| 604 | 754 | 1,104 | 1,205 | |
| 77.1 | 82 | 149 | 207 | |
| 17.3 | 8 | 26.3 | 32.4 | |
| 0.7 | – | 15.4 | 98.6 | |
| 1.4 | 1.9 | 169 | 9.2 | |
| 508 | 662 | 744 | 858 | |
| 604 | 754 | 1,104 | 1,205 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.9 | 0.7 | −2.7 | −21.8 | |
| −35.8 | −39.9 | −241 | 1.6 | |
| 32.9 | 39.5 | 247 | 24.6 | |
| −1.1 | 0.4 | 3 | 4.4 | |
| −41.5 | −36 | −87.2 | −80.6 | |
| −39.7 | −35.2 | −89.9 | −102 | |
| −9.8 | – | – | – |
Shareholding pattern
- Promoters73.30%
- Public26.70%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 73.30% | 26.70% | plus 0.27 | |
| 30 Jun 2026 | 73.03% | 26.97% | plus 0.06 | |
| 31 Mar 2026 | 72.97% | 27.03% | plus 0.11 | |
| 31 Dec 2025 | 72.86% | 27.14% | plus 0.30 | |
| 30 Sep 2025 | 72.56% | 27.44% | – |
Major shareholders
Filings & events
News
No recent news coverage found.