Western Carriers (India) Ltd
WCILWestern Carriers (India) Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the P/E sits at the 67th percentile of its own range — the multiple has already done part of the work.
The price is in a downtrend (21 weeks in) while the P/E sits at the 67th percentile of its own 2-year range. Underneath, the last four quarters read deteriorating — profit −41.3% year on year, and −13% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Western Carriers (India) Ltd trades at ₹94.7, in a downtrend and 21 weeks into that stage. That is −10.7% against its own 200-day average. It sits at 21% of a 52-week range of ₹82 to ₹144. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (5 weeks and counting).
Today the stock is in a downtrend — week 21 of stage 4, confirmed. At ₹94.7 it trades −10.7% versus its 200-day average and sits at 21% of its 52-week range (₹82–₹144).
Against the market, two honest reads. Cumulative: over the last 1.8 years the stock moved −41% while the NIFTY 500 moved −4% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (5 weeks and counting; last ahead the week of 2026-06-24) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 67th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Western Carriers (India) Ltd trades at 23.6× P/E, mid-range by its own standards (67th percentile). Its long-run median P/E is 21.4×, measured across 1.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 23.6× is mid-range by its own standards (67th percentile), against a long-run median of 21.4× measured over 1.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −40.4% against a −16.0% price move — the price outran earnings, pushing the multiple UP its own range.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Western Carriers (India) Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 7.0% — the per-curve reads carry the story. The read is built from 8 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +6.0% | +3.9% | +10.5% | — |
| Profit | −40.0% | −18.5% | −2.8% | — |
| EPS | −40.4% | −25.2% | −19.6% | — |
| Share price | −16.0% | — | — | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
33.6/100 — rank 16 of 18 in Logistics · 70% evidence confidence
Western Carriers (India) Ltd scores 33.6 out of 100 against the 18 companies it is compared with in Logistics, ranking 16. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 8.9 + 9.7 + 10.5 + 4.5 = 33.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Western Carriers (India) Ltd reported ₹496 Cr of revenue in the Mar 26 quarter, +15.7% year on year. That is the 3rd straight quarter of year-on-year growth. Over 6 years it has compounded at 9.4% a year. The last full year, FY26, came in at ₹1,829 Cr. The last four reported quarters add to ₹1,829 Cr.
Western Carriers (India) Ltd reported ₹496 Cr of revenue in the Mar 26 quarter, +15.7% year on year. That is the 3rd straight quarter of year-on-year growth. Over 6 years it has compounded at 9.4% a year. The last full year, FY26, came in at ₹1,829 Cr. The last four reported quarters add to ₹1,829 Cr.
FY26 revenue came in at ₹1,829 Cr (+6.0% on the year), capping 6 years at 9.4% compound. The latest quarter (Mar 26) printed ₹496 Cr, +15.7% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +6.0% growth against the decade's 9.4% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +6.0% over the last 4 quarters against +4.2%/yr over the last 8 — stabilising; TTM profit −40.4% vs −30.5%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 4.3% this quarter (−1.5 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Western Carriers (India) Ltd's operating margin is 4.3% in the Mar 26 quarter, −1.5 percentage points against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 5.0% to 9.0%. The current quarter is running below every full year in that window.
Western Carriers (India) Ltd's operating margin is 4.3% in the Mar 26 quarter, −1.5 percentage points against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 5.0% to 9.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 4.3%, −1.5 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 5.0%–9.0%.
🚨 Why the margin moved: operating margin went −1.5 pp year on year while gross margin went +0.0 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins slipped — did that reach the bottom line? Next: profit −41.3% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Western Carriers (India) Ltd earned ₹8.3 Cr of net profit in the Mar 26 quarter, −41.3% year on year. Full-year FY26 profit was ₹39.0 Cr. The 6-year compound rate is 1.3%. That is 1.7% of the quarter's revenue. The same quarter a year earlier earned ₹14.1 Cr.
Western Carriers (India) Ltd earned ₹8.3 Cr of net profit in the Mar 26 quarter, −41.3% year on year. Full-year FY26 profit was ₹39.0 Cr. The 6-year compound rate is 1.3%. That is 1.7% of the quarter's revenue. The same quarter a year earlier earned ₹14.1 Cr.
Mar 26 profit was ₹8.3 Cr, −41.3% year on year. On the full year, FY26 printed ₹39.0 Cr (−40.0%), and the 6-year compound rate is 1.3%.
🚨 Why profit moved: revenue contributed +15.7% and the margin −1.5 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit −38.8% vs revenue +6.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: −13% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −13% of Western Carriers (India) Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−22.0 Cr of operating cash against ₹39.0 Cr of profit. After ₹96.0 Cr of capital spending, ₹−118 Cr was left as free cash.
FY26: operating cash of ₹−22.0 Cr against reported profit of ₹39.0 Cr, leaving free cash of ₹−118 Cr after ₹96.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −13% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −13%: the cash cycle stretched 56 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 56 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 139-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Western Carriers (India) Ltd's cash conversion cycle runs 139 days in FY26, up from 83 days in FY21. Capital spending ran ₹202 Cr over the last 3 years. At FY26 sales of ₹1,829 Cr each day of that cycle holds about ₹5.0 Cr, so roughly ₹697 Cr sits inside the business at any moment.
FY26: debtors at 139 days (an asset-light business — no inventory to speak of) — for a full cycle of 139 days, looser than FY21's 83.
In money terms: at FY26 sales of ₹1,829 Cr, each day of the cycle holds about ₹5.0 Cr — so the 139-day loop keeps roughly ₹697 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹202 Cr over the last 3 fiscal years against ₹73.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹31.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 7% and the ROIC − WACC spread is −7.7 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Western Carriers (India) Ltd earns a ROCE of 7% in FY26. Return on invested capital clears the cost of that capital by −7.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 2.1% net margin on 1.52× asset turns.
FY26 ROCE is 7%.
🚨 Why the return is what it is — the wiring (FY26): 2.1% net margin × 1.52× asset turns × 1.39× balance-sheet leverage ≈ 4.4% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 4.3% − 12.0% = a −7.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.26.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Western Carriers (India) Ltd carries total debt of ₹226 Cr against shareholder equity of ₹867 Cr as of Mar 26, a debt-to-equity of 0.26 — effectively unlevered. On the annual view that ratio went from 0.65 in FY23 to 0.26 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹226 Cr against shareholder equity of ₹867 Cr — a debt-to-equity of 0.26. On the annual view, debt-to-equity went from 0.65 (FY23) to 0.26 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions cut 4.4 points over 7 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions cut 4.4 points of Western Carriers (India) Ltd over 7 quarters, the biggest move on the register. That takes domestic institutions to 4.8% of the company. Foreign institutions moved −4.2 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: −4.4 points over 7 quarters to 4.8%; Foreign institutions: −4.2 points over 7 quarters to 0.0%; Promoters: +1.1 points over 7 quarters to 73.0%.
🚨 Why the register moved: domestic institutions drove it (−4.4 points), alongside foreign institutions (−4.2 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Western Carriers (India) Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Western Carriers (India) Ltd this page | 23.6× | ₹917 Cr | Mixed | |||
| Aegis Logistics Ltd | 54.5× | ₹47,371 Cr | Mixed | |||
| Container Corporation Of India Ltd | 29.3× | ₹36,371 Cr | Deteriorating | |||
| Shadowfax Technologies Ltd | 112.0× | ₹12,554 Cr | — | — | — | — |
| Blue Dart Express Ltd | 41.6× | ₹11,655 Cr | Mixed | |||
| Blackbuck Ltd | 60.0× | ₹9,824 Cr | No read | |||
| Transport Corporation of India Ltd | 15.5× | ₹7,051 Cr | Consistent | |||
| Sindhu Trade Links Ltd | 65.6× | ₹3,770 Cr | No read | |||
| Gateway Distriparks Ltd | 10.9× | ₹2,817 Cr | Mixed | |||
| Reliance Industrial Infrastructure Ltd | 90.8× | ₹1,102 Cr | Deteriorating | |||
| Allcargo Gati Ltd(Merged) | 97.5× | ₹971 Cr | No read | |||
| JITF Infra Logistics Ltd | — | ₹939 Cr | No read | |||
| Ritco Logistics Ltd | 23.6× | ₹851 Cr | Mixed | |||
| Tejas Cargo India Ltd | 39.7× | ₹830 Cr | — | — | — | — |
| Sical Logistics Ltd | 596.0× | ₹774 Cr | No read | |||
| Allcargo Terminals Ltd | 13.6× | ₹609 Cr | Turning around | |||
| TransIndia Real Estate Ltd | 16.1× | ₹598 Cr | Mixed | |||
| S J Logistics (India) Ltd | 6.2× | ₹469 Cr | No read |
Frequently asked questions
What is Western Carriers (India) Ltd's share price today?
Western Carriers (India) Ltd trades at ₹94.7, −16.0% over the past year. The company is valued at ₹917 Cr. The stock sits at 21% of its 52-week range of ₹82–₹144, −10.7% versus its 200-day average. On the tape, the price is in a downtrend, 21 weeks in. — as of 24 July 2026.
What were Western Carriers (India) Ltd's latest quarterly results?
Western Carriers (India) Ltd reported revenue of ₹496 Cr and net profit of ₹8.3 Cr for the Mar 26 quarter. Revenue rose 15.7% and profit fell 41.3% year on year. Earnings per share were ₹0.81. The operating margin was 4.3%, 1.5 pp lower than a year earlier. — as of 24 July 2026.
What is Western Carriers (India) Ltd's revenue?
Western Carriers (India) Ltd reported revenue of ₹496 Cr in the Mar 26 quarter, +15.7% year on year. For the full FY26 fiscal year, revenue was ₹1,829 Cr (+6.0%). Over the last 6 years revenue compounded at 9.4% a year. — as of 24 July 2026.
What is Western Carriers (India) Ltd's profit?
Western Carriers (India) Ltd earned ₹8.3 Cr of net profit in the Mar 26 quarter, −41.3% year on year. Full-year FY26 profit was ₹39.0 Cr. The operating margin ran 4.3% in the latest quarter. — as of 24 July 2026.
What is Western Carriers (India) Ltd's market cap?
Western Carriers (India) Ltd's market capitalisation is ₹917 Cr at a share price of ₹94.7. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Western Carriers (India) Ltd's P/E ratio?
Western Carriers (India) Ltd trades at a P/E of 23.6×, at the 67th percentile of its own 2-year range, against a long-run median of 21.4×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Western Carriers (India) Ltd pay a dividend?
No — Western Carriers (India) Ltd has recorded a dividend payout of 0% of profit in each of its last 7 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.
Is Western Carriers (India) Ltd overvalued?
On its own history, Western Carriers (India) Ltd looks expensive against its own history: its P/E of 23.6× sits at the 67th percentile of its 2-year range (long-run median 21.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Western Carriers (India) Ltd growing?
Not right now — Western Carriers (India) Ltd's latest numbers are shrinking: latest-quarter revenue +15.7% year on year, profit −41.3%, and the margin −1.5 pp at 4.3%. The 6-year compound rates are 9.4% (revenue) and 1.3% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Western Carriers (India) Ltd performing?
Western Carriers (India) Ltd is in a downtrend, 21 weeks in. Its latest quarter's revenue rose 15.7% and profit fell 41.3% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Western Carriers (India) Ltd in?
Mixed — no clean majority across the growth curves, ROCE slipping at 7.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +15.7% latest, profit growth −41.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Western Carriers (India) Ltd in an uptrend?
No — the price is in a downtrend (week 21 of stage 4), trading −10.7% versus its 200-day average and at 21% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Western Carriers (India) Ltd beating the market?
Not lately — on a trailing-13-week view Western Carriers (India) Ltd is currently behind the NIFTY 500 (5 weeks and counting; last ahead the week of 2026-06-24), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.8 years the stock moved −41% against the NIFTY 500's −4% — behind the index over the full window. — as of 24 July 2026.
Will Western Carriers (India) Ltd's share price go up?
This page publishes no price forecast for Western Carriers (India) Ltd. What it measures instead: the share price is ₹94.7, the price is in a downtrend 21 weeks in. Its P/E of 23.6× sits at the 67th percentile of its own 2-year range. — as of 24 July 2026.
Who owns Western Carriers (India) Ltd?
Promoters hold 73.0% of Western Carriers (India) Ltd, foreign institutions 0.0%, domestic institutions 4.8% and the public 22.2% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 4.4 points over 7 quarters. — as of 24 July 2026.
Does Western Carriers (India) Ltd have too much debt?
No — Western Carriers (India) Ltd's debt-to-equity is 0.26, and operating profit covers the interest bill 5×. FY26 borrowings were ₹226 Cr against equity of ₹867 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Western Carriers (India) Ltd's capex?
Western Carriers (India) Ltd spent ₹202 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹96.0 Cr, with ₹31.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Western Carriers (India) Ltd's cash flow?
Western Carriers (India) Ltd generated ₹−22.0 Cr of operating cash flow in FY26 and ₹−118 Cr of free cash flow after ₹96.0 Cr of capital spending. Reported profit that year was ₹39.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Western Carriers (India) Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −13% of Western Carriers (India) Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−22.0 Cr against reported profit of ₹39.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is Western Carriers (India) Ltd in its business cycle?
Western Carriers (India) Ltd's FY26 operating margin was 5.0%, against a 7-year band of 5.0%–9.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 4.3%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Western Carriers (India) Ltd story?
Biggest watch item: the P/E sits at the 67th percentile of its own range — the multiple has already done part of the work. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Western Carriers (India) Ltd a stock worth studying right now?
This is not investment advice. The machine read: Western Carriers (India) Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.