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Western Carriers Overview

Western Carriers (India) Limited is a prominent logistics and transportation company based in India, specializing in freight and cargo services. Established with the goal of providing efficient and reliable logistics solutions, the company has developed a robust network that caters to a diverse range of industries, including manufacturing, retail, and e-commerce. Western Carriers offers services such as road transportation, warehousing, and supply chain management, ensuring seamless movement of goods across the country. The company is known for...Read More

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Western Carriers Key Financials

Market Cap ₹1033 Cr.

Stock P/E 15.9

P/B 1.2

Current Price ₹101.3

Book Value ₹ 84.2

Face Value 5

52W High ₹147.2

Dividend Yield 0%

52W Low ₹ 70.1

Western Carriers Share Price

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Volume
Price

Western Carriers Quarterly Price

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Western Carriers Peer Comparison

Western Carriers Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 426 457 402 423 431 443 429 416 440 478
Other Income 1 2 2 1 2 5 5 4 4 3
Total Income 427 459 403 424 433 448 433 420 444 481
Total Expenditure 392 419 358 387 395 420 404 395 421 454
Operating Profit 35 39 45 37 38 28 30 25 23 27
Interest 5 6 7 6 7 5 4 5 5 4
Depreciation 5 6 6 5 6 6 7 6 6 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 25 27 33 26 26 18 19 15 12 15
Provision for Tax 7 7 9 7 7 5 5 4 3 4
Profit After Tax 18 20 24 19 19 13 14 11 9 11
Adjustments 0 0 0 0 0 0 -0 0 0 0
Profit After Adjustments 18 20 24 19 19 13 14 11 9 11
Adjusted Earnings Per Share 2.3 2.6 3.1 2.4 1.9 1.3 1.4 1.1 0.9 1.1

Western Carriers Profit & Loss

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1067 1110 1471 1633 1686 1726 1763
Other Income 6 4 5 5 6 13 16
Total Income 1074 1114 1476 1638 1691 1739 1778
Total Expenditure 994 1029 1367 1511 1540 1605 1674
Operating Profit 80 85 109 127 152 134 105
Interest 14 13 14 16 22 22 18
Depreciation 14 12 12 15 21 24 27
Exceptional Income / Expenses 0 0 0 0 0 0 0
Profit Before Tax 52 60 83 96 108 88 61
Provision for Tax 16 16 22 25 28 23 16
Profit After Tax 36 45 61 72 80 65 45
Adjustments 0 -0 0 0 0 0 0
Profit After Adjustments 36 45 61 72 80 65 45
Adjusted Earnings Per Share 4.6 5.7 7.8 9.1 10.2 6.4 4.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 2% 5% 10% 0%
Operating Profit CAGR -12% 7% 11% 0%
PAT CAGR -19% 2% 13% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 23% NA% NA% NA%
ROE Average 11% 19% 22% 22%
ROCE Average 13% 20% 22% 23%

Western Carriers Balance Sheet

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 152 196 257 318 398 828
Minority's Interest 0 0 0 0 0 0
Borrowings 21 35 21 37 25 19
Other Non-Current Liabilities 24 19 24 28 32 28
Total Current Liabilities 175 188 207 242 324 247
Total Liabilities 372 438 510 626 779 1123
Fixed Assets 73 73 71 91 105 154
Other Non-Current Assets 54 50 67 72 54 79
Total Current Assets 245 316 372 463 620 890
Total Assets 372 438 510 626 779 1123

Western Carriers Cash Flow

#(Fig in Cr.) Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 3 6 3 3 1 2
Cash Flow from Operating Activities 81 -26 5 2 1 -3
Cash Flow from Investing Activities -24 -2 -3 -36 -40 -241
Cash Flow from Financing Activities -54 26 -3 33 40 247
Net Cash Inflow / Outflow 3 -3 -1 -1 0 3
Closing Cash & Cash Equivalent 6 3 3 1 2 5

Western Carriers Ratios

# Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.56 5.66 7.77 9.09 10.21 6.39
CEPS(Rs) 6.28 7.13 9.24 11.03 12.91 8.72
DPS(Rs) 0 0 0 0 0 0
Book NAV/Share(Rs) 19.29 24.96 32.7 40.46 50.62 81.22
Core EBITDA Margin(%) 6.87 7.3 7.09 7.47 8.67 6.99
EBIT Margin(%) 6.18 6.6 6.63 6.83 7.75 6.37
Pre Tax Margin(%) 4.88 5.41 5.67 5.88 6.43 5.09
PAT Margin (%) 3.36 4.01 4.16 4.38 4.77 3.77
Cash Profit Margin (%) 4.63 5.06 4.94 5.32 6.03 5.15
ROA(%) 9.64 10.99 12.89 12.6 11.44 6.85
ROE(%) 23.62 25.57 26.94 24.86 22.42 10.62
ROCE(%) 26.6 25.26 26.38 23.82 21.9 13.21
Receivable days 63.8 72.16 69.95 78.34 99.07 121.18
Inventory Days 0 0 0 0 0 0
Payable days 0 0 0 0 0 0
PER(x) 0 0 0 0 0 12.05
Price/Book(x) 0 0 0 0 0 0.95
Dividend Yield(%) 0 0 0 0 0 0
EV/Net Sales(x) 0.12 0.15 0.12 0.14 0.17 0.44
EV/Core EBITDA(x) 1.59 1.93 1.62 1.81 1.83 5.73
Net Sales Growth(%) 0 4.01 32.5 11.03 3.23 2.37
EBIT Growth(%) 0 11.07 33.2 14.34 17.13 -15.86
PAT Growth(%) 0 24.18 37.28 17.07 12.27 -18.94
EPS Growth(%) 0 24.16 37.29 17.07 12.27 -37.43
Debt/Equity(x) 0.63 0.69 0.58 0.66 0.67 0.21
Current Ratio(x) 1.4 1.68 1.8 1.91 1.91 3.6
Quick Ratio(x) 1.4 1.7 1.8 1.91 1.91 3.6
Interest Cover(x) 4.76 5.54 6.86 7.2 5.86 4.97
Total Debt/Mcap(x) 0 0 0 0 0 0.22

Western Carriers Shareholding Pattern

# Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 71.89 71.89 71.89 71.89 72.56 72.86 72.97
FII 4.22 1.4 0.29 0.31 0.61 0.25 0.04
DII 9.14 9.45 8.54 7.37 5.79 4.75 4.75
Public 14.75 17.26 19.27 20.43 21.04 22.14 22.23
Others 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100

Western Carriers News

Western Carriers Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

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