WCILServices

Western Carriers (India) Limited

Logistics Solution Provider · ISIN INE0CJF01024 · BSE 544258 · NSE EQ · FV ₹5
Last price
₹95
+5.51%today
What this company does

Western Carriers (India) Limited operates in Logistics Solution Provider, part of the Services sector. It booked ₹465 cr of revenue in its latest quarter (Q1 FY27) and kept 1.9% of sales as profit.

logistics solutions. 02_ About Us Scan QR code to 04_ What Sets Us Apart see this annual 06_ Pan-India Footprint As a trusted, asset-light, 4PL partner mindset to deliver logistics that are report online with over five decades of industry efficient and effortless.
In the report:
44out of 100
Equitytale Health Score
Strained

Healthier than 44% of companies in Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 85–116 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
70

At close. Not part of the score.

Profitability & returns28

How much profit it earns on the money it employs

Balance sheet53

How much it owes, and whether earnings cover the interest

Cash quality17

Whether reported profit actually arrives as cash

Valuation49

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watchPriced in line with peers
Strengths
Makes a profit
Sales up 12% vs last year
Promoters hold 73%
No promoter shares pledged
Watch-outs
! Thin 1.9% net margin
! Profit down 19% vs last year
! Low 4.0% return on equity
! Operating cash flow is negative

What if I invest in WCIL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹95 +5.51%
latest close · 2026-09-17
52-wk low ₹8242 sessions so far52-wk high ₹96
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio28.0Average
LowAverageHigh
P/B ratio1.12Moderate
Below bookModerateHigh
EV / EBITDA13.3Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity4.0%Weak
WeakFairStrong ▸15%
Return on capital7.0%Weak
WeakFairStrong
Net margin1.9%Thin
ThinDecentStrong
EBITDA margin4.8%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.25Comfortable
LowModerateHigh ▸1
Interest cover4.2×Okay
RiskyOkayStrong ▸5×
Current ratio2.60Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹971 cr
Book value
₹85
EPS
₹0.85
latest quarter
Net debt
₹208 cr
owes more than its cash
Enterprise value
₹1,179 cr
EBITDA
₹89 cr
annualised
EBIT
₹62 cr
annualised
Operating margin
3.3%
Return on assets
2.9%
Earnings yield
3.57%
P/S
0.52
Sales / share
₹182.4
Tax rate
26.8%
Face value
₹5
Shares
10.2 cr
Working capital
₹510 cr
Current assets
₹828 cr
Current liabilities
₹318 cr
Delivery %
53.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹85₹102, midpoint ₹93

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹465 cr
Other Income₹4 cr
Total Income₹468 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹16 cr
Finance Costs₹4 cr
Depreciation & Amortisation₹7 cr
Other Expenses₹430 cr
Total Expenses₹457 cr
Profit before Tax₹12 cr
Tax Expense₹3 cr
Share of JV / Associates₹0.1 L
Net Profit₹9 cr
Net margin on total income1.9%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹16 cr3.5%
Finance costs₹4 cr0.8%
Depreciation & amortisation₹7 cr1.4%
Other expenses₹430 cr91.8%
Tax expense₹3 cr0.7%
Profit for the period₹9 cr1.9%
Total income ₹468 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue478 cr496 cr465 cr
Total income481 cr499 cr468 cr
Expenses466 cr488 cr457 cr
Profit before tax15 cr11 cr12 cr
Tax4 cr3 cr3 cr
Net profit (owners' share)11 cr8 cr9 cr
Net margin (owners' share, on revenue)2.3%1.7%1.9%
EPS (₹)1.060.810.85
YoY (latest quarter): total income +11.5% · net profit -19.4%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,205 cr
Shareholder equity
₹867 cr
parent shareholders
Total debt
₹217 cr
Cash
₹9 cr
Cash flow · H1 FY26
Operating
₹-18 cr
Investing
₹14 cr
Financing
₹2 cr
Peer comparison
Logistics Solution Provider · by market value
CompanyPriceMarket capP/E
Container Corporation of India Limited₹488₹37,178 cr34.6
Delhivery Limited₹426₹31,897 cr247.6
Shadowfax Technologies Limited₹252₹14,724 cr56.7
Blue Dart Express Limited₹4,811₹11,417 cr32.3
Shiprocket Limited₹121₹7,694 cr
Transport Corporation of India Limited₹827₹6,364 cr15.0
TVS Supply Chain Solutions Limited₹130₹5,743 cr69.2
VRL Logistics Limited₹288₹5,037 cr15.6
Mahindra Logistics Limited₹390₹3,865 cr38.0
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
73.0%
FII / Foreign
0.0%
DII / Domestic
4.8%
Retail / others
22.2%
Promoter stake up 1.1% over the last 9 quarters.
Smart-money activity
Insider trades
BoughtRAJENDRA SETHIA · Promoters9,865 · ₹9.1 L20 Mar 26
BoughtRAJENDRA SETHIA · Promoters10,135 · ₹9.2 L19 Mar 26
BoughtRAJENDRA SETHIA · Promoters1.00 L · ₹94.5 L13 Mar 26
Bulk / block deals
BoughtNK SECURITIES RESEARCH PRIVATE LIMITED · NSE6.65 L @ ₹170.4524 Sep 24
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE6.65 L @ ₹170.5324 Sep 24
BoughtAAKRAYA RESEARCH LLP · NSE13.62 L @ ₹170.1124 Sep 24
Stake changes
BoughtRajendra Sethia. · promoter→ 72.83% · 5,00030 Jun 26
BoughtRajendra Sethia · promoter→ 72.82% · 1,10630 Jun 26
BoughtRajendra Sethia · promoter→ 72.82% · 20,00024 Jun 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 27 Sep 2025
See the official result
1
Adoption of the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025 and the Reports of the Board of Directors and Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
63.78 L votes for, 261 against · 0% of mutual funds and other big investors said no
2
Adoption of the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 and the Report of the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
63.77 L votes for, 348 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mrs. Sushila Sethia (DIN:00268016), as a Director liable to retire by rotation
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
63.74 L votes for, 4,131 against · 0% of mutual funds and other big investors said no
4
To consider and approve the continuation of the Directorship of Mrs. Sushila Sethia (DIN: 00268016),as a Whole-time Director who will attain the age of Seventy (70) years in this financial year.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
63.74 L votes for, 4,131 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 66 named members
owning 73.0% between them · as of 2026-06-30
Rajendra Sethia72.82%
Kanishka Sethia0.20%
Adya Sethiano shares
AJKR Infrastructure Limitedno shares
Akanksha Shahno shares
Akshee Sachetino shares
Anjani Sethiano shares
Ankur Dhaddano shares
Business done with them
FY2025 · 12 of the group
The company paid ₹9 cr to companies in the promoter group last year — about 0.5% of its ₹1,726 cr revenue and received ₹7 cr back from them.
WESTERN LOGISTICS PRIVATE LIMITED
Contribution received from them · Loans given Loans repaid Loans Taken Loans Paid Interest on loan Interest on Loan Paid
₹3 cr
company received
WESCON LTD
Contribution received from them · Loans Taken Loans Paid Interest on Loan Paid
₹2 cr
company received
RAJENDRA SETHIA
Other payments to them · Rent Paid Directors Remuneration
also owns 72.82% of the company
₹2 cr
company paid
WESTERN LOGISTICS PRIVATE LIMITED
Contribution made to them · Loans given Loans repaid Loans Taken Loans Paid Interest on loan Interest on Loan Paid
₹2 cr
company paid
Kanishka Sethia
Other payments to them · DIRECTORS REMUNERATION
also owns 0.20% of the company
₹1 cr
company paid
WESTERN WARE HOUSING PVT LTD
Other payments to them · Loans repaid Interest on loan Rent Paid
₹1 cr
company paid
WESTERN WARE HOUSING PVT LTD
Contribution received from them · Loans repaid Interest on loan Rent Paid
₹1 cr
company received
WESCON LTD
Contribution made to them · Loans Taken Loans Paid Interest on Loan Paid
₹1 cr
company paid
GIPSY MANAGEMENT PVT LTD
Contribution made to them · LOANS GIVEN, INTEREST ON LOAN
₹95 L
company paid
GIPSY MANAGEMENT PVT LTD
Other income from them · LOANS GIVEN, INTEREST ON LOAN
₹62.7 L
company received
Sushila Sethia
Other payments to them · Rent Paid Directors Remuneration
₹61.8 L
company paid
WESTERN CONGLOMERATE LIMITED
Contribution made to them · LOANS GIVEN, INTEREST ON LOAN
₹56.5 L
company paid
WESTERN CONGLOMERATE LIMITED
Other income from them · LOANS GIVEN, INTEREST ON LOAN
₹25.3 L
company received
WESTERN KRAFT & PAPER PRIVATE LIMITED
Contribution made to them · LOANS GIVEN, INTEREST ON LOAN
₹19 L
company paid
WESTERN KRAFT & PAPER PRIVATE LIMITED
Other income from them · LOANS GIVEN, INTEREST ON LOAN
₹12.9 L
company received
WESTERN LOGISTICS PRIVATE LIMITED
Other income from them · Loans given Loans repaid Loans Taken Loans Paid Interest on loan Interest on Loan Paid
₹7.9 L
company received
WESTERN WARE HOUSING PVT LTD
Other income from them · Loans repaid Interest on loan Rent Paid
₹7.8 L
company received
WESTERN SKYVILLA PRIVATE LIMITED
Other income from them · INTEREST ON LOAN
₹5.9 L
company received
WESCON LTD
Other payments to them · Loans Taken Loans Paid Interest on Loan Paid
₹5.8 L
company paid
WESTERN APARTMENTS PRIVATE LIMITED
Other income from them · INTEREST ON LOAN
₹1 L
company received
WESTERN LOGISTICS PRIVATE LIMITED
Other payments to them · Loans given Loans repaid Loans Taken Loans Paid Interest on loan Interest on Loan Paid
₹0.7 L
company paid
Western Dry Ports Private Limited
Contribution made to them · Loans given
₹0.5 L
company paid

The company also transacted with 5 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹400 cr raised in Sep 2024 by selling shares to the public

As of Jun 2026, the company says it has spent 76% of what it set aside, leaving ₹87 cr still to be spent. CRISIL RATINGS LIMITED watches the spending on the exchange’s behalf.

Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by Company
100%
₹164 cr of ₹164 cr
Funding of capital expenditure requirements of Company towards purchase of (i) commercial vehicles; (ii) 40 feet specialised containers and 20 feet normal shipping containers; and (iii) reach stackers
42%
₹64 cr of ₹152 cr
General corporate purposes
100%
₹48 cr of ₹48 cr
Spent by quarter: 88%85%65%74%75%76% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.