Western Carriers (India) share price today

Western Carriers (India) Ltd's share price was ₹92.75 at the close on 4 November 2026. It has been falling for 36 weeks. That is 5.6% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹82 and ₹129, and at that close it sat 23% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Western Carriers (India) Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 6 weeks in a row.

Over the last 2.1 years the share price moved −42% while the NIFTY 500 moved −10%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Lowest operating margin in 13 quarters

   Operating margin was 4% in the June 2026 quarter, against 5% a year earlier.

   Why: The company made less on each shipment because export and import cargo was disrupted by port congestion and longer routes, and higher freight costs were not fully passed on to customers.

   Next results: check whether shipping congestion and surcharges ease without pushing the margin lower.

   From the earnings call on 17 Aug 2026.

2. Promoters raised their stake for 5 quarters in a row

   From 71.9% to 73.3% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Western Carriers (India) reported revenue of ₹465 crore, up 11.8% from ₹416 crore a year earlier, and a profit of ₹8.69 crore, down 19.5% from ₹10.8 crore.

Western Carriers (India) results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Western Carriers (India)'s management discussed these results on a call held on 17 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Western Carriers (India) closed at ₹92.75 on 4 November 2026, down 28.1% from ₹129.03 a year earlier (7 November 2025). Its highest weekly close since September 2024 was ₹160.59 on 27 September 2024.

Western Carriers (India) share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

114 weekly closes from 27 September 2024 to 4 November 2026.

4 Nov 2026: Western Carriers (India) closed at ₹92.75, down 1.5% on the week and down 0.3% on the month. 17 Aug 2026: Western Carriers (India) held its results call for April to June 2026. Management guided: FY27 capital spending approximately ₹100 crore.

Earlier

• Results for April to June 2026: Revenue up 11.8% and profit down 19.5% on a year earlier.

Western Carriers (India) has paid no dividend on the NSE since its first NSE close in our records (27 September 2024), the start of the period we checked.

No. Western Carriers (India) Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 17 August 2026, Western Carriers (India)'s management guided: FY27 capital spending approximately ₹100 crore.

“There is no benchmark number for the returns, but I would say that a healthy double-digit return is what we expect from all our assets, whether they are special-type containers, heavy-duty equipment or commercial vehicles, which are mostly specialized.”Kanishka Sethia, on the call for April to June 2026

What management guided

• Orders placed for 150 additional specialized 40-foot containers this FY; initial deliveries received and balance scheduled this quarter.
• Healthy double-digit returns expected across specialized containers, heavy-duty equipment and commercial vehicles.
• Strong revenue and profitability growth expected through the remaining FY27, ceteris paribus.
• EXIM volumes expected to jump once geopolitical disruptions ease.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 17 August 2026.

When Western Carriers (India) reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Domestic throughput, DSO and MMCT Devaliya activity to sustain momentum; check whether specialized-container demand continues contributing.

Western Carriers (India) is on one of our India lists: Penny stocks.

Western Carriers (India) Ltd earned ₹8.7 Cr of net profit in the Jun 2026 quarter, −19.5% on the same quarter a year earlier. Full-year FY26 profit was ₹39.0 Cr. Over 6 years profit has grown 1.3% a year on average. That is 1.9% of the quarter's revenue. The same quarter a year earlier earned ₹10.8 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹39.0 Cr (−40.0% on the year before).

Why profit moved: revenue changed +11.8% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −32.9% and revenue +9.3%. Profit is growing slower than sales: rising costs are taking part of the growth.

Western Carriers (India) Ltd reported ₹465 Cr of revenue in the Jun 2026 quarter, +11.8% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 6 years it has grown 9.4% a year on average. The last full year, FY26, came in at ₹1,829 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,878 Cr.

FY26 revenue was ₹1,829 Cr, +6.0% on the year before.

Recent pace: the last four quarters grew +9.3% on average, against 9.4% a year over the longer run, so this year is growing at about the same pace as its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +9.3%, against +4.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −35.6%, against −33.0% a year (stabilising).

Western Carriers (India) Ltd's operating margin was 4.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 7 years it has been between 4.7% and 9.0%. The latest quarter is below every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.0 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years Western Carriers (India) Ltd's operations used more cash than they brought in, so cash conversion was −13%, a gap worth watching. In FY26 its operations used ₹22.0 Cr of cash, against ₹39.0 Cr of profit. After ₹96.0 Cr of spending on assets, free cash was −₹118 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −13% of profit came in as cash: the cash cycle got 56 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 56 days longer. The next section looks at where the cash is stuck.

Western Carriers (India) Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 139 days in FY26, up from 83 days in FY21. It spent ₹202 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,829 Cr, each day of that cycle ties up about ₹5.0 Cr, so roughly ₹697 Cr is tied up in the business at any time.

Spending on assets: ₹202 Cr over the last 3 years, against ₹73.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹31.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Western Carriers (India) Ltd's P/E is 25.7×, near the high end of its own history: higher than 79% of past readings. Its usual P/E (the middle reading) is 23.1×, over 2.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved −40.4% while the price moved −28.1%. The price did better than earnings, which pushed the multiple up within its own range.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Western Carriers (India) Ltd's business is turning around. Profit growth has swung from −42.9% at its low to −19.5%, rising from a low 3 quarters ago (from single-quarter figures), with ROCE steady at 7.7%. This is based on 11 quarters of 3 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Western Carriers (India) Ltd earned a ROCE of 7% in FY26. Its return on capital used (ROIC) is 8.3 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 2.1% net margin and 1.52× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 2.1% net margin × 1.52× asset turnover × 1.39× leverage (assets divided by equity) ≈ 4.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 3.7% − 12.0% = −8.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Western Carriers (India) Ltd has total debt of ₹226 Cr against shareholder equity of ₹867 Cr as of Jun 2026, so its debt is 0.26× its equity, which is very little. Year by year, that ratio went from 0.65 in FY23 to 0.26 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions cut their stake in Western Carriers (India) Ltd by 4.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 4.5% of the company. Foreign institutions moved −4.2 points over the same period, to 0.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: −4.6 points over 8 quarters, to 4.5%; Foreign institutions: −4.2 points over 8 quarters, to 0.0%; Promoters: +1.4 points over 8 quarters, to 73.3%.

Why the owners changed: domestic institutions drove it (−4.6 points), together with foreign institutions (−4.2 points). They reduced their stake.

For Western Carriers (India) Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

37.3 out of 100, rank 11 of 18 in Logistics, with 64% of the evidence available.

Western Carriers (India) Ltd scores 37.3 out of 100 against the 18 companies it is compared with in Logistics, ranking 11. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 11.1 + 6.3 + 10.2 + 9.7 = 37.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Western Carriers (India) ranks 11 of 18 Logistics companies on the 4-Factor Sector Score, with 37.3 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Logistics, all 18 compared on one page.

Western Carriers (India) is the 11th largest of 18 Logistics companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Gateway Distriparks, Reliance Industrial Infrastructure and Allcargo Gati Ltd(Merged). Just below it: Tejas Cargo India, Ritco Logistics and Allcargo Terminals.

Logistics companies close in size

8. Gateway Distriparks Ltd ₹2,142 crore
9. Reliance Industrial Infrastructure Ltd ₹1,013 crore
10. Allcargo Gati Ltd(Merged) ₹971 crore
11. Western Carriers (India) Ltd ₹960 crore
12. Tejas Cargo India Ltd ₹946 crore
13. Ritco Logistics Ltd ₹759 crore
14. Allcargo Terminals Ltd ₹695 crore

All 18 Logistics companies, largest first

Companies close in size in other industries

1619. Hariom Pipe Industries Ltd ₹964 crore · Steel - Tubes/Pipes
1620. TCC Concept Ltd ₹961 crore · Miscellaneous
1621. Western Carriers (India) Ltd ₹960 crore
1622. Premier Polyfilm Ltd ₹953 crore · Plastics - Sheets/Films
1623. Shri Ahimsa Naturals Ltd ₹952 crore · Chemicals - Organic

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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