NSE: CORDELIA · BSE: 544802
WATERWAYS LEISURE TOUR L
Operates multi-night leisure cruises departing from Indian ports such as Mumbai, Chennai and Goa, with itineraries running to domestic destinations including Goa and Lakshadweep and international ones in Sri Lanka, the Maldives and Southeast Asia (Phuket, Langkawi, Kuala Lumpur and Singapore). The current ship is Cordelia Empress, with Cordelia Sky due for handover in September 2026 and a maiden Mumbai voyage on October 23, 2026 — Sky spans 258 metres at 77,104 gross tonnes with 10 dining venues, a 930-seat theatre, two pools and over 30,000 sq ft of open deck. A third ship, Cordelia Sun, is expected post March 2027. Revenue comes from ticket sales on these itineraries, with on-board spend as a supplementary source. In Q1 FY27, standalone revenue was Rs 190.11 crore (about 8% higher year on year), average ticket price reached Rs 11,581 (up 4.3%), load factor hit 105%, and over 55,700 guests sailed across 24,245 staterooms booked, yielding a net profit of Rs 22.77 crore at roughly 12% margin. EBITDA margin nonetheless compressed to 24.5% from 32% as fuel costs rose about 65%, an Rs 14 crore hit driven by Middle East tensions, which the operator plans to recoup via surcharges from Q3. Rs 65 crore of advance bookings is reported, translating to Rs 110-115 crore of locked-in future revenue, while distribution is being widened via a new Cochin sales centre opening September 2026 and a Chairman's Club loyalty programme set to launch by end of Q2. AR · MarketPing reader · 2026-09-16
Revenue streams, as the annual report describes them. Cruise ticket sales, On-board spend. Asset-heavy, capacity-driven consumer discretionary cruise operator with high fixed costs and fuel sensitivity
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 190 |
| Profit before tax | 33 |
| Net profit | 23 |
| EPS (₹) | 3.49 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Cordelia starts two-ship operations from Mumbai and Kochi | compliance | low | — | — |
| 15 Oct 2026 · Cordelia Sky delivered early; Q2 FY27 revenue up 31% YoY at Rs 1,329 mn | investor communications | medium | — | — |
| 12 Oct 2026 · Submission of RTA certificate under SEBI Regulation 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 11 Oct 2026 · Newspaper publication of Q2 FY26 unaudited results | compliance | minimal | — | — |
| 9 Oct 2026 · Q2 analyst call audio recording posted on company website | investor communications | low | — | — |
| 9 Oct 2026 · Waterways Leisure Q2/H1 FY27: PAT at Rs 812.69 Mn, up 215% YoY | compliance | low | — | — |
| 9 Oct 2026 · Cordelia Cruises Q2 FY27: Revenue up 31%, PAT jumps 755% | results | high | — | — |
| 9 Oct 2026 · Waterways Q2 FY27: revenue up 37% YoY, exceptional Rs 494.89 mn gain | results | high | — | — |
| 9 Oct 2026 · Cordelia Cruises Q2 FY27: Revenue up around 37% YoY, swings to profit | results | high | — | — |
| 5 Oct 2026 · Earnings call scheduled for Q2 and H1FY27 on October 9, 2026 | board shareholder meetings | low | — | — |
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| Where a broker report shows | This document shows | Why |
|---|---|---|
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Sources, method and disclosures
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