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Swing Capital

Western Carriers (India) Ltd

NSE: WCIL BSE: 544258

Western Carriers (India) Ltd (WCIL) is a Diversified company listed on NSE: WCIL | BSE: 544258. With a market cap of ₹982 Cr and ROCE of 6.79%, ROE of 4.58%, it operates in the Indian Diversified sector.

₹96.3
52W: ₹77 — ₹147
PE 25.3 · Book ₹85 · +13% vs book
Market Cap₹982 Cr
Stock P/E25.3Price to Earnings
ROCE6.79%Return on Capital
ROE4.58%Return on Equity
Div. Yield0%Face Value ₹5

Strengths

  • +Stock is trading at 1.15 times its book value

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −The company has delivered a poor sales growth of 10.5% over past five years.
  • −Company has a low return on equity of 10.1% over last 3 years.

Shareholding Pattern

Promoters72.97%
FIIs0.04%
DIIs4.75%
Public22.24%
CategorySep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.89%71.89%71.89%71.89%72.56%▲0.772.86%▲0.372.97%▲0.1
FIIs4.22%1.4%▼2.80.29%▼1.10.3%▲0.00.61%▲0.30.25%▼0.40.04%▼0.2
DIIs9.14%9.45%▲0.38.53%▼0.97.39%▼1.15.78%▼1.64.75%▼1.04.75%
Public14.75%17.25%▲2.519.27%▲2.020.41%▲1.121.04%▲0.622.14%▲1.122.24%▲0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales456.71401.64422.71431.43443428.58415.82439.62478.09495.72
Expenses419.36357.81387.25395.29419.6403.63395.03420.79454.17474.29
Operating Profit37.3543.8335.4636.1423.424.9520.7918.8323.9221.43
OPM %8.18%10.91%8.39%8.38%5.28%5.82%5%4.28%5%4.32%
Net Profit20.3924.218.918.9613.214.0810.788.9510.838.26
EPS ₹2.593.072.41.861.291.381.060.881.060.81

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,829Cr, up 6% YoY. OPM at 5%.

Debt Position

Borrowings at ₹226Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹31Cr (15% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 4.75% (-4.39pp change). FIIs: 0.04% (-4.18pp change). Promoters hold 72.97%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 7% (Mar 2026). Working capital days: 94.

Valuation

PE 25.3x with 6.79% ROCE. Price is 13% above book value of ₹85. Dividend yield: 0%.

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