Western Carriers (India) Ltd
Incorporated in March 2011, Western Carriers (India) Limited is a Multi-modal, rail-focused, 4PL asset-light logistics company.[1]
- Market Cap ₹ 1,214 Cr.
- Current Price ₹ 119
- High / Low ₹ 177 / 118
- Stock P/E 15.1
- Book Value ₹ 82.0
- Dividend Yield 0.00 %
- ROCE 21.9 %
- ROE 22.4 %
- Face Value ₹ 5.00
Pros
- Company has delivered good profit growth of 30.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.4%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 10.3% over past five years.
- Debtor days have increased from 92.7 to 114 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 1,034 | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | |
| 982 | 996 | 1,029 | 1,367 | 1,511 | 1,540 | |
| Operating Profit | 52 | 72 | 81 | 104 | 122 | 146 |
| OPM % | 5% | 7% | 7% | 7% | 7% | 9% |
| 5 | 6 | 4 | 5 | 5 | 6 | |
| Interest | 13 | 12 | 13 | 14 | 16 | 22 |
| Depreciation | 10 | 12 | 12 | 12 | 15 | 21 |
| Profit before tax | 33 | 53 | 60 | 83 | 96 | 108 |
| Tax % | 34% | 30% | 26% | 27% | 26% | 26% |
| 22 | 37 | 45 | 61 | 72 | 80 | |
| EPS in Rs | 5.50 | 9.51 | 11.31 | 15.53 | 9.09 | 10.21 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 15% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 30% |
| 3 Years: | 22% |
| TTM: | 12% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 24% |
| Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 39 | 39 | 51 |
| Reserves | 73 | 110 | 157 | 218 | 279 | 359 | 785 |
| 141 | 100 | 141 | 145 | 207 | 269 | 290 | |
| 107 | 105 | 87 | 82 | 70 | 86 | 80 | |
| Total Liabilities | 360 | 355 | 425 | 485 | 596 | 754 | 1,206 |
| 71 | 67 | 73 | 76 | 91 | 105 | 125 | |
| CWIP | 0 | 0 | 1 | 2 | 7 | 0 | 0 |
| Investments | 3 | 4 | 4 | 1 | 5 | 3 | 3 |
| 286 | 283 | 348 | 406 | 493 | 646 | 1,078 | |
| Total Assets | 360 | 355 | 425 | 485 | 596 | 754 | 1,206 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 34 | 64 | -26 | 5 | 2 | 1 | |
| -21 | -6 | -2 | 2 | -33 | -40 | |
| -8 | -51 | 26 | -8 | 30 | 40 | |
| Net Cash Flow | 5 | 8 | -3 | -1 | -1 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 71 | 65 | 83 | 77 | 87 | 114 |
| Inventory Days | 0 | |||||
| Days Payable | ||||||
| Cash Conversion Cycle | 71 | 65 | 83 | 77 | 87 | 114 |
| Working Capital Days | 49 | 45 | 72 | 70 | 84 | 111 |
| ROCE % | 26% | 25% | 26% | 24% | 22% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Read with Schedule III and Reg 47 of SEBI (LODR) Reg 2015, we herewith the copies of the newspaper advertisements published on 15th November 2024
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Audio recording of earnings conference call for Q2 results.
-
Statement Of Deviation(S) Or Variation(S) Of Funds For The Quarter Ended September 30, 2024
2d - No deviation in IPO fund utilization for Q3 2024.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
2d - Monitoring Agency Report on IPO proceeds utilization.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
13 Nov - Unaudited financial results for Q2 and H1 FY25.
Business Service[1]
- 3PL/4PL Services
- Courier Services
- Air Freight
- Water Freight
- Warehousing
- Project Logistics
- Road/Rail Transport
Their value-added services span the entire supply chain, from production and packaging to export, arrival, customs clearance, and multimodal transport, ensuring efficient and customized logistics solutions for clients.