Western Carriers (India) Limited has informed the Exchange about Transcript
WCIL · price
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Western Carriers reported Q4 FY26 revenue of INR496 crores, up 4% from Q3 but with profitability pressures due to the Middle East geopolitical crisis. EBITDA fell to INR25 crores (5% margin) from INR27 crores (5.6% margin) in Q3, while PAT dropped to INR8.3 crores (1.7% margin) from INR10.8 crores (2.3%). The company handled 57,754 containers in Q4 (+4.3% YoY), with domestic volumes surging 17.79% offsetting a 3.17% EXIM decline. For full year FY26, total containers grew 6.14% to 2.26 lakh despite March volumes being severely impacted by the Strait of Hormuz blockade (industry EXIM volumes fell 40%, while the company limited decline to 11%). The company deployed INR70 crores capex in FY26 and plans INR100 crores for FY27, funded from IPO proceeds. Management acknowledged working capital stress (negative operating cash flow) and rising receivables (debtor days target: below 120), but expressed confidence that sequential margin improvement should begin as EXIM trade normalizes.
The stock faces near-term pressure from margin compression and negative cash flows due to geopolitical disruptions, but management's resilience (limiting EXIM decline to 11% vs 40% industry fall) and planned capex suggest recovery potential once Middle East tensions ease. Working capital management remains a key monitorable.