Past 10 year's financial track record analysis by Moneyworks4me indicates that Western Carriers (India) Ltd is a average quality company.
The key valuation ratios of Western Carriers (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Western Carriers (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 26.2% | 25.2% | 26.6% | 24.2% | 22.1% | - |
| Value Creation Index ⓘ | 0.9 | 0.8 | 0.9 | 0.7 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||
| Sales ⓘ | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 | 1,686 |
| Sales YoY Gr. | - | 4% | 32.5% | 11% | 3.2% | - |
| Adj EPS ⓘ | 4.7 | 5.6 | 7.7 | 9 | 10.2 | 7.9 |
| YoY Gr. | - | 19.6% | 37.5% | 16.7% | 12.9% | - |
| BVPS (₹) ⓘ | 19 | 25 | 32.7 | 40.5 | 50.6 | 82 |
| Adj Net Profit ⓘ | 37 | 44.2 | 60.8 | 71 | 80.1 | 80 |
| Cash Flow from Ops. ⓘ | 64.5 | -26.5 | 5.2 | 1.8 | 0.7 | - |
| Debt/CF from Ops. ⓘ | 1.3 | -5.1 | 28.1 | 111.6 | 361.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 14.9% | 3.2% | ||||
| Adj EPS ⓘ | NA | NA | 21.9% | 12.9% | ||||
| BVPSⓘ | NA | NA | 26.6% | 25.1% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 22.5 | 24.5 | 26.8 | 24.7 | 22.3 | 11.9 |
| Op. Profit Mgn % ⓘ | 6.7 | 7.3 | 7.1 | 7.5 | 8.7 | 8.1 |
| Net Profit Mgn % ⓘ | 3.5 | 4 | 4.1 | 4.4 | 4.8 | 4.8 |
| Debt to Equity ⓘ | 0.5 | 0.7 | 0.6 | 0.6 | 0.7 | 0 |
| Working Cap Days ⓘ | 0 | 98 | 95 | 101 | 123 | 36 |
| Cash Conv. Cycle ⓘ | 0 | 43 | 51 | 64 | 84 | 19 |
Sales growth is growing at healthy rate in last 3 years 14.94%
Net Profit is growing at healthy rate in last 3 years 21.90%
Debt to equity has declined versus last 3 years average to 0.67
Return on Equity has declined versus last 3 years average to 11.90%
Sales growth is not so good in last 4 quarters at 1.64%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.9 | 6 |
| TTM Sales (₹ Cr.) | 1,686 | 1,471 |
| BVPS (₹.) ⓘ | 82 | 0 |
| Reserves (₹ Cr.) ⓘ | 785 | 785 |
| P/BV ⓘ | 1.43 | 0.00 |
| PE ⓘ | 14.86 | 19.53 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 118.20 / 177.00 |
| All Time Low / High (₹) | 118.20 / 177.00 |
| Market Cap (₹ Cr.) | 1,194 |
| Equity (₹ Cr.) | 51 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 40.3 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 1,067 | 1,110 | 1,471 | 1,633 | 1,686 |
| Operating Expenses ⓘ | 995 | 1,029 | 1,367 | 1,511 | 1,540 |
| Manufacturing Costs | 951 | 987 | 1,311 | 1,450 | 1,468 |
| Material Costs | 0 | 0 | 0 | 0 | 0 |
| Employee Cost | 28 | 28 | 37 | 42 | 47 |
| Other Costs ⓘ | 17 | 14 | 19 | 20 | 25 |
| Operating Profit ⓘ | 72 | 81 | 104 | 122 | 146 |
| Operating Profit Margin (%) | 6.7% | 7.3% | 7.1% | 7.5% | 8.7% |
| Other Income ⓘ | 6 | 4 | 5 | 5 | 6 |
| Interest ⓘ | 12 | 13 | 14 | 16 | 22 |
| Depreciation ⓘ | 12 | 12 | 12 | 15 | 21 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 53 | 60 | 83 | 96 | 108 |
| Tax ⓘ | 16 | 16 | 22 | 25 | 28 |
| Profit After Tax | 37 | 45 | 61 | 72 | 80 |
| PAT Margin (%) | 3.5% | 4.0% | 4.2% | 4.4% | 4.8% |
| Adjusted EPS (₹) | 4.8 | 5.7 | 7.8 | 9.1 | 10.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 165 | 197 | 257 | 318 | 398 | |||||
| Share Capital ⓘ | 54 | 39 | 39 | 39 | 39 | |||||
| Reserves ⓘ | 110 | 157 | 218 | 279 | 359 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 78 | 125 | 135 | 186 | 244 | |||||
| Long Term Debt | 11 | 35 | 17 | 30 | 25 | |||||
| Short Term Debt | 67 | 90 | 118 | 156 | 219 | |||||
| Trade Payables | 92 | 78 | 65 | 54 | 70 | |||||
| Others Liabilities ⓘ | 21 | 38 | 47 | 59 | 67 | |||||
| Total Liabilities ⓘ | 355 | 438 | 505 | 617 | 779 | |||||
Fixed Assets | ||||||||||
| Gross Block | 148 | 165 | 175 | 210 | 245 | |||||
| Accumulated Depreciation | 81 | 92 | 104 | 119 | 140 | |||||
| Net Fixed Assetsⓘ | 67 | 73 | 71 | 91 | 105 | |||||
| CWIP ⓘ | 0 | 1 | 2 | 7 | 0 | |||||
| Investmentsⓘ | 4 | 4 | 5 | 5 | 3 | |||||
| Inventories | 0 | 0 | 0 | 0 | 0 | |||||
| Trade Receivables | 191 | 252 | 311 | 390 | 525 | |||||
| Cash Equivalents | 40 | 11 | 13 | 20 | 27 | |||||
| Others Assetsⓘ | 53 | 97 | 101 | 105 | 118 | |||||
| Total Assets ⓘ | 355 | 438 | 505 | 617 | 779 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 64 | -26 | 5 | 2 | 1 |
| PBT ⓘ | 53 | 60 | 83 | 96 | 108 |
| Adjustment ⓘ | 21 | 22 | 24 | 27 | 39 |
| Changes in Working Capital ⓘ | -2 | -94 | -77 | -90 | -125 |
| Tax Paid ⓘ | -8 | -15 | -26 | -32 | -21 |
| Cash Flow From Investing Activity ⓘ | -6 | -2 | 2 | -33 | -40 |
| Capex | -9 | -11 | -10 | -38 | -36 |
| Net Investments | -1 | 0 | -3 | 4 | 1 |
| Others ⓘ | 4 | 9 | 15 | 1 | -4 |
| Cash Flow From Financing Activityⓘ | -51 | 26 | -8 | 30 | 40 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -6 | 15 | -7 | 19 | 1 |
| Interest Paid ⓘ | -12 | -12 | -13 | -15 | -22 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -10 | 0 |
| Others ⓘ | -32 | 22 | 11 | 35 | 61 |
| Net Cash Flow ⓘ | 8 | -3 | -1 | -1 | 1 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 25.04 | 25.73 | 26.93 | 24.85 | 22.41 | |||||
| ROCE (%) | 26.24 | 25.18 | 26.57 | 24.17 | 22.05 | |||||
| Asset Turnover Ratio | 3.01 | 2.8 | 3.12 | 2.91 | 2.41 | |||||
| PAT to CFO Conversion(x) | 1.73 | -0.58 | 0.08 | 0.03 | 0.01 | Working Capital Days | ||||
| Receivable Days | 65 | 73 | 70 | 78 | 99 | |||||
| Inventory Days | 0 | 0 | 0 | 0 | 0 | |||||
| Payable Days | 0 | 0 | 0 | 0 | 0 | |||||
Western Carriers (India) Limited was incorporated as ‘Western Carriers (India) Private Limited’ in Kolkata, West Bengal as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated March 23, 2011, issued by the Deputy Registrar of Companies, West Bengal. Subsequently, the company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of its Shareholders held on February 11, 2013 and consequently, the name of the company was changed to its present name, ‘Western Carriers (India) Limited’, and a fresh certificate of incorporation dated February 28, 2013 was issued by the RoC, to the Company. Rajendra Sethia, the Promoter Selling Shareholder, transferred his business carried under the name and style ‘Western Carriers’ to the Company on a going concern basis with effect from July 1, 2013.
The company is the largest private, multi-modal, rail focused, 4PL asset-light logistics company in India in terms of container volumes handled/operated by private players in Fiscal 2023. Its domestic and EXIM market share, based upon container volumes handled, was 6% and 2%, respectively, in Fiscal 2023. It has several years of experience in road, rail and sea / river multi-modal movement for domestic as well as EXIM cargo in and out of India. The metrics set out below reflect the scale and growth of its operations. It operates on a scalable, asset-light business model which enables it to provide differentiated 3PL and 4PL solutions. It endeavours to address complexities (in terms of scale of operations and logistics requirements) by creating customised, one-stop/single-window, end-to-end and integrated logistics solutions for its customers, which involve a variety of value-added services across the supply chain.
Its Promoter, Rajendra Sethia, established his logistics business as a rail-focused logistics business in 1972, which was later acquired by the Company in 2013. Over the last 50 years, the business has continued to evolve to provide end-to-end, customised, multi-modal logistics solutions across the supply chain integrating road, railway, water and air logistics along with a customised suite of value-added services.
Business area of the company
The company is a player in the Indian logistics industry and engaged in providing single, multimodal and other transportation services, warehousing and other ancilliary services.
Awards, accreditations, certifications and recognitions
History and milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Claim your FREE 15-day access to the most practical investing handbook.
Hurry, limited to the first 10 users today!
FREE Become a savvy and confident
stock investor.
Hurry, limited to the first 10 users today!
Download APP
