Operates as an asset-light, rail-focused 4PL multimodal logistics provider, moving containerised cargo for export-import (EXIM) and domestic trade. Container movement is the core activity: FY26 volumes reached 2,26,578 TEUs, up 6.14% year-over-year, with 57,754 containers handled in Q4 alone. Revenue from operations was ₹1,829 crore in FY26. The model spans road and rail, with the company holding Concor platinum associate partner status and operating from 50+ branches for over 1,600 clients. The Devaliya Multimodal Cargo Terminal (MMCT), spread across 32 acres near Morbi, is fully operational and pivoting from tiles to industrial chemicals, FMCG and salt as the tiles trade has been disrupted by a propane shortage. The dedicated container fleet has crossed 1,000 TEUs, and a further 161 built-to-suit containers are entering service over Q1-Q2 FY27. Other operating expenses dominate the cost structure at 92% of revenue, with employee costs at 3.4% and depreciation at 1.5%, reflecting the asset-light model where freight, handling and rail slot costs flow through opex. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. EXIM container logistics, Domestic container logistics, Devaliya MMCT terminal operations, Specialised container fleet services. Asset-light, rail-focused 4PL multimodal logistics provider — cyclical to EXIM trade volumes but capital-light relative to fleet operators.
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 1,726 | 1,829 |
| EBITDA (ex other income) | 120 | 85 |
| margin % | 6.9 | 4.6 |
| Owners' profit | 0 | 39 |
| EPS, as reported (₹) | 7.16 | 3.81 |
| ROE % · ROCE % | 7.9 · 12.8 | 4.5 · 8.0 |
| Debt / equity (x) | 0.21 | 0.25 |
| Cash from operations | (3) | (22) |
| Capex | (87) | (81) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 431 | 443 | 429 | 416 | 440 | 478 | 496 | 465 |
| Profit before tax | 26 | 18 | 19 | 15 | 12 | 15 | 11 | 12 |
| Net profit | 19 | 13 | 14 | 11 | 9 | 11 | 8 | 9 |
| EPS (₹) | 2.33 | 1.11 | 1.32 | 1.06 | 0.88 | 1.06 | 0.81 | 0.85 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CONTAINER CORP OF IND LTD | 38,024 | 30.5 | 2.91 | 16.2 | 9.5 | 11.6 | 7.2 | 24.5 |
| DELHIVERY LIMITED | 32,882 | 351.3 | 3.39 | 33.6 | 1.6 | 1.2 | — | 8.7 |
| SHADOWFAX TECHNOLOGIES L | 14,920 | 92.7 | 8.55 | 59.0 | 6.4 | 5.7 | — | 8.3 |
| BLUE DART EXPRESS LTD | 11,490 | 40.0 | 6.47 | 12.1 | 13.9 | 13.4 | 13.3 | 16.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Western Carriers inaugurates General Cargo Terminal in Kolkata | business updates | high | — | — |
| 9 Sept 2026 · Western Carriers sends Annual Report FY25-26 weblink to members with unregistered emails | compliance | minimal | — | — |
| 9 Sept 2026 · 15th AGM on September 30, 2026 at 12:30 PM via video conferencing | compliance | minimal | — | — |
| 8 Sept 2026 · 15th AGM notice - meeting on Sept 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 1 Sept 2026 · WCIL secures 15-year General Cargo Terminal contract at Kolkata Port | business updates | high | — | — |
| 30 Aug 2026 · Western Carriers to hold 15th AGM on September 30 via video conferencing | compliance | minimal | — | — |
| 29 Aug 2026 · Internal Auditor appointed for FY 2026-27 | management changes | medium | — | — |
| 29 Aug 2026 · Board approves Kolkata cargo terminal ops, sets AGM on Sep 30 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Board approves cargo terminal at Kolkata port, fixes AGM date | board shareholder meetings | low | — | — |
| 22 Aug 2026 · Western Carriers Q1 FY27 transcript filed; revenue up 12%, PAT up 13% QoQ | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| TRANSPORT CORPN OF INDIA |
| 6,587 |
| 14.4 |
| 2.53 |
| 11.9 |
| 17.7 |
| 14.4 |
| 11.9 |
| 11.3 |
| TVS SUPPLY CHAIN SOL L | 5,770 | 89.5 | 2.80 | 7.0 | 5.7 | 4.8 | — | 7.2 |
| VRL LOGISTICS LIMITED | 5,044 | 18.9 | 4.41 | — | 20.7 | 14.5 | — | 21.9 |
| Afcom Holdings Limited | 4,284 | 22.2 | 9.38 | — | 26.7 | 20.2 | — | 41.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.3 | 15.7 | 39 of 54 | 28% |
| P/B | 1.0 | 1.6 | 11 of 40 | 74% |
| ROCE | 5.9 | 6.8 | 29 of 56 | 49% |
| ROE | 4.5 | 5.7 | 23 of 42 | 46% |
| Debt / Equity | 0.3 | 0.2 | 23 of 42 | 46% |
| EBITDA margin | 4.8 | 8.7 | 37 of 43 | 14% |
| Revenue growth | 11.8 | 9.5 | 20 of 42 | 54% |
| Profit growth | (19.4) | 22.5 | 30 of 35 | 15% |
| Market cap | 892 | 123 | 16 of 56 | 73% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
