Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹47 Cr.
Stock P/E
12.1
P/B
0.5
Current Price
₹3.3
Book Value
₹ 6
Face Value
1
52W High
₹12
52W Low
₹ 2.6
Dividend Yield
0%

Shipwaves Online Overview

Business

Shipwaves Online Ltd. is an Indian digital freight logistics company. It operates a technology-driven platform designed to simplify and streamline the freight forwarding process for businesses. The company offers end-to-end logistics solutions, primarily focusing on international and domestic freight, including ocean, air, and road cargo. Their core business model involves connecting shippers with carriers, providing services like freight booking, real-time tracking, customs clearance, warehousing, and cargo insurance. Shipwaves makes money through service fees charged on freight bookings and associated logistics services, acting as a digital freight forwarder and supply chain orchestrator.

Revenue Mix

While specific revenue contribution percentages are not publicly disclosed, Shipwaves' primary service lines include:

Ocean Freight: Full Container Load (FCL) and Less than Container Load (LCL) services for international shipments.

Air Freight: International air cargo services, typically for time-sensitive goods.

Road Freight: Domestic road transportation and first/last-mile delivery services.

Customs Clearance & Documentation: Facilitating import/export procedures.

Warehousing & Distribution: Storage and distribution solutions.

Cargo Insurance: Offering insurance coverage for goods in transit.

Its revenue is primarily generated from the booking and execution of these freight and logistics services.

Industry

The Indian logistics industry is large, fragmented, and undergoing rapid transformation driven by digitalization. It includes a mix of traditional asset-heavy logistics providers, third-party logistics (3PL) companies, and emerging digital-first platforms like Shipwaves. Shipwaves positions itself as a technology-driven, asset-light player aiming to bring transparency, efficiency, and cost-effectiveness to a traditionally opaque sector. It competes with established freight forwarders (both global and domestic) and other digital logistics aggregators by leveraging technology for improved quoting, booking, tracking, and supply chain visibility.

MOAT

Shipwaves' potential competitive advantages lie in its:

Technology Platform: Its proprietary digital platform offers ease of use, instant quoting, and real-time tracking, which can lead to higher customer stickiness compared to traditional methods.

Network Effects (developing): As more shippers and carriers use the platform, it can create a virtuous cycle, improving service options for shippers and cargo density for carriers.

Data & Analytics: The platform can generate valuable data insights into freight movements, pricing, and efficiency, allowing for continuous optimization.

However, it operates in a highly competitive market, and these advantages need to be continually enhanced to become a durable moat.

Growth Drivers

Growth of Indian Trade & Economy: Expansion in manufacturing, e-commerce, and overall economic activity in India drives demand for logistics services.

Digitalization of Logistics: Increasing adoption of technology by businesses seeking greater efficiency, transparency, and cost control in their supply chains.

"Make in India" & Export Push: Government initiatives promoting domestic manufacturing and exports will boost international freight volumes.

Infrastructure Development: Ongoing improvements in India's road, rail, and port infrastructure will enhance logistics efficiency and capacity.

MSME Adoption: Digital platforms like Shipwaves can provide easier access to organized logistics services for small and medium-sized enterprises (MSMEs).

Risks

Intense Competition: The logistics sector is highly competitive with many established players and new digital entrants, leading to potential price wars and margin pressure.

Economic Downturns: Global and domestic economic slowdowns can reduce trade volumes and freight demand, directly impacting revenue.

Fuel Price Volatility: Fuel costs are a significant component of logistics expenses; sudden spikes can erode profitability.

Geopolitical & Supply Chain Disruptions: Events like pandemics, trade wars, or regional conflicts can severely disrupt global supply chains.

Technology Adoption & Obsolescence: The need to continually invest in and update technology to remain competitive, and risk of new disruptive technologies emerging.

Regulatory Changes: Changes in customs duties, trade policies, and logistics regulations can impact operations and costs.

Management & Ownership

Shipwaves Online Ltd. is promoted by entrepreneurs with experience in logistics and technology. Its management team typically comprises individuals with expertise in freight forwarding, supply chain management, and software development. As a privately held or recently listed company, ownership is likely concentrated among its founders (promoters) and possibly early investors/venture capitalists. Specific details on individual management profiles and exact ownership structure would require access to their corporate filings or investor relations documentation.

Outlook

Shipwaves operates in an attractive market segment, leveraging technology to address inefficiencies in the Indian logistics sector. The shift towards digital solutions in freight forwarding, coupled with India's economic growth and infrastructure push, provides significant tailwinds. The company's asset-light model and focus on technology could allow for scalability and potentially higher margins compared to traditional players. However, the industry is highly competitive, and the company will need to continually innovate its platform, expand its network, and maintain competitive pricing to attract and retain customers. Sustained investment in technology, efficient operational execution, and navigating intense competition will be crucial for its long-term success and market share expansion.

Shipwaves Online Share Price

Live · BSE · Inception: 2015
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Shipwaves Online Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Shipwaves Online Profit & Loss

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 69 97 108 91
Other Income 0 1 1 2
Total Income 69 97 109 93
Total Expenditure 65 86 89 83
Operating Profit 4 12 19 10
Interest 1 2 3 4
Depreciation 0 2 2 3
Exceptional Income / Expenses 0 0 0 0
Profit Before Tax 3 7 14 4
Provision for Tax 1 1 1 -0
Profit After Tax 2 6 12 4
Adjustments 0 -0 -1 -0
Profit After Adjustments 2 6 11 4
Adjusted Earnings Per Share 0.2 0.6 1.1 0.3

Shipwaves Online Balance Sheet

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 9 15 26 85
Minority's Interest 0 0 2 2
Borrowings 0 4 3 2
Other Non-Current Liabilities -0 0 0 1
Total Current Liabilities 17 34 51 43
Total Liabilities 26 54 82 133
Fixed Assets 0 16 13 34
Other Non-Current Assets 10 1 7 0
Total Current Assets 17 37 63 98
Total Assets 26 54 82 133

Shipwaves Online Cash Flow

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 1 0 0 0
Cash Flow from Operating Activities 2 3 -0 -18
Cash Flow from Investing Activities -3 -11 -7 -22
Cash Flow from Financing Activities 0 9 7 41
Net Cash Inflow / Outflow -1 0 0 1
Closing Cash & Cash Equivalent 0 0 0 2

Shipwaves Online Ratios

# Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 0.24 0.62 1.15 0.25
CEPS(Rs) 0.24 0.88 1.52 0.46
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) 0.96 1.57 2.74 6.02
Core EBITDA Margin(%) 5.86 11.42 17.38 9.08
EBIT Margin(%) 6.08 9.91 15.86 8.03
Pre Tax Margin(%) 4.39 7.49 12.63 4.11
PAT Margin (%) 3.23 6.51 11.27 4.22
Cash Profit Margin (%) 3.28 8.6 13.26 7.13
ROA(%) 8.51 15.66 17.97 3.59
ROE(%) 24.78 52.72 59.95 6.93
ROCE(%) 19.01 31.37 34.57 8.56
Receivable days 25.71 22.12 33.07 59.84
Inventory Days 0 0 0 0
Payable days 0 0 0 0
PER(x) 0 0 0 13.13
Price/Book(x) 0 0 0 0.55
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 0.3 0.31 0.37 0.7
EV/Core EBITDA(x) 4.97 2.62 2.09 6.4
Net Sales Growth(%) 0 39.54 11.97 -15.81
EBIT Growth(%) 0 127.56 79.21 -57.36
PAT Growth(%) 0 180.73 93.9 -68.45
EPS Growth(%) 0 160.4 85.68 -78.01
Debt/Equity(x) 1.45 1.63 1.33 0.3
Current Ratio(x) 0.97 1.07 1.23 2.26
Quick Ratio(x) 0.97 1.07 1.23 2.26
Interest Cover(x) 3.59 4.1 4.91 2.05
Total Debt/Mcap(x) 0 0 0 0.54

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -16% +10% — —
Operating Profit CAGR -47% +36% — —
PAT CAGR -67% +26% — —
Share Price CAGR — — — —
ROE Average +7% +40% +36% +36%
ROCE Average +9% +25% +23% +23%

Shipwaves Online Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 67.4 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 32.6 %
# Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 066.7967.3667.467.4
FII 00000
DII 01.66000
Public 031.5532.6432.632.6
Others 00000
Total 100100100100100

Shipwaves Online Peer Comparison

Logistics Edit Columns

Shipwaves Online Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Shipwaves Online Pros & Cons

Pros

  • Stock is trading at 0.5 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 40%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

    0
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