Audited Financial Results for the Quarter and Year ended March 31, 2026
WCIL · price
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Western Carriers reported standalone revenue of Rs 18,292 million for FY26, up 6% from Rs 17,257 million in FY25. However, profit before tax dropped 40% to Rs 527.5 million from Rs 878.3 million. Net profit fell to Rs 388.2 million from Rs 651.3 million, translating to EPS of Rs 3.81 versus Rs 7.16 prior year. The company listed on exchanges in September 2024 via IPO raising Rs 4,000 million. Operating cash flow turned negative at Rs 218 million due to higher tax payments and working capital requirements, particularly rising trade receivables. Borrowings increased significantly with short-term borrowings rising to Rs 2,108 million from Rs 1,533 million.
The 40% decline in profitability despite modest revenue growth signals margin compression and operational challenges. Negative operating cash flow raises concerns about cash conversion. However, the clean audit opinion with unmodified report and IPO proceeds deployment may provide some comfort to shareholders.