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Western Carriers Q1 FY26 Profit Falls to ₹82.6 Cr

May 16, 2026 4 mins read Firehose Gupta

WESTERN CARRIERS (INDIA) LTD. — Quarter and year ended March 31, 2026

Western Carriers (India) Ltd. Logo

Sl No. Particulars Quarter ended 31.03.2026 Audited Quarter ended 31.12.2025 Unaudited Quarter ended 31.03.2025 Audited Year ended 31.03.2026 Audited Year ended 31.03.2025 Audited
1 Revenue from operations 4,957.16 4,780.89 4,285.79 18,292.38 17,257.20
2 Other income 32.61 27.56 48.49 145.49 132.05
3 Total income (1 + 2) 4,989.77 4,808.45 4,334.28 18,437.87 17,389.25
4 Expenses
(a) Operational expenses 4,406.70 4,216.05 3,746.66 16,149.54 14,897.51
(b) Employee benefits expense 155.31 156.14 140.99 613.53 530.87
(c) Finance costs 52.51 41.42 42.06 184.53 215.13
(d) Depreciation and amortisation expense 81.91 78.87 66.18 283.19 237.94
(e) Other expenses 180.82 169.47 148.70 679.57 629.47
Total expenses [4(a) to 4(e)] 4,877.25 4,661.95 4,144.59 17,910.36 16,510.92
5 Profit / (loss) before exceptional items and tax (3 – 4) 112.52 146.50 189.69 527.51 878.33
6 Exceptional items [Refer Note 7] – – – – –
7 Profit / (loss) before tax (5 + 6) 112.52 146.50 189.69 527.51 878.33
8 Tax expense / (credit)
(a) Current tax: current year 33.87 38.58 49.40 145.10 230.89
(b) Current tax: earlier years – – – – –
(c) Deferred tax (3.95) (0.35) (0.50) (5.75) (3.84)
Total tax expense [8(a) to 8(c)] 29.92 38.23 48.90 139.35 227.05
9 Net Profit / (loss) for the period (7 – 8) 82.60 108.27 140.79 388.16 651.28
10 Other comprehensive income
Items that will not be reclassified to profit or loss
(a) Remeasurement of the employees defined benefit plans 6.40 1.11 (2.03) 0.97 (2.85)
(b) Income tax relating to above items (1.61) (0.27) 0.51 (0.24) 0.72
(c) Fair value changes of FVOCI equity instruments – – – – –
(d) Income tax relating to above items – – – – –
Total other comprehensive income (a to d) 4.79 0.84 (1.52) 0.73 (2.13)
11 Total comprehensive income (9 + 10) 87.39 109.11 139.27 388.89 649.15
12 Paid-up equity share capital (Face value ₹ 5 per Share) 509.78 509.78 509.78 509.78 509.78
13 Other equity – – – 8,160.45 7,771.56
14 Earning/(loss) per Equity share*
Basic EPS – in Rupees 0.81 1.06 1.32 3.81 7.16
Diluted EPS – in Rupees 0.81 1.06 1.32 3.81 7.16
Particulars As at March 31, 2026 (Audited) As at March 31, 2025 (Audited)
(I) Assets
(1) Non-current assets
(a) Property, plant and equipment 1,671.32 1,190.69
(b) Capital work in progress 314.00 150.13
(c) Right of use assets 78.95 34.76
(d) Goodwill 310.00 310.00
(e) Other Intangible assets 0.70 1.06
(f) Investments in associates 32.82 32.82
(g) Financial assets
(i) Other financial assets 986.28 154.00
(h) Deferred tax assets (Net) 46.60 41.09
(i) Other non-current assets 10.05 113.15
(j) Income-tax Assets (Net) 328.19 109.63
Total Non-current assets 3,778.91 2,137.33
(2) Current Assets
(a) Financial assets
(i) Trade receivables 6,951.76 6,204.24
(ii) Cash and cash equivalents 92.20 48.46
(iii) Other bank balances 292.76 1,855.06
(iv) Loans 287.63 254.86
(v) Other financial assets 119.93 86.58
(b) Other current assets 531.65 449.74
Total current assets 8,275.93 8,898.94
Total Assets [1+2] 12,054.84 11,036.27
(II) Equity and Liabilities
(3) Equity
(a) Equity share capital 509.78 509.78
(b) Other equity 8,160.45 7,771.56
Total equity 8,670.23 8,281.34
(4) Non-current liabilities
(a) Financial liabilities
(i) Borrowings 64.18 186.72
(ii) Lease liabilities 63.79 26.56
(c) Long-term provisions 76.90 68.09
Total Non-current liabilities 204.87 281.37
(5) Current liabilities
(a) Financial liabilities
(i) Borrowings 2,107.52 1,533.37
(ii) Lease liabilities 19.71 9.97
(iii) Trade payables
Total outstanding dues of micro and small enterprises 31.50 24.75
Total outstanding dues of creditors other than micro and small enterprises 796.41 771.50
(iv) Other financial liabilities 161.18 110.90
(b) Short-term provisions 2.51 2.26
(c) Other current liabilities 60.91 20.81
Total current liabilities 3,179.74 2,473.56
Total Equity and Liabilities [3+4+5] 12,054.84 11,036.27
Particulars For the year ended March 31, 2026 (Audited) For the year ended March 31, 2025 (Audited)
(A) Cash flows from operating activities :
Net Profit before taxes 527.51 878.33
Adjustments for:
Depreciation and amortisation expense 283.19 237.94
Finance costs 184.53 215.13
Interest on Income tax refunds (5.58) (1.91)
Allowance for doubtful debts – 1.54
Interest Income (124.24) (114.38)
Operating profit before changes in operating assets and liabilities 865.41 1,216.65
Changes in operating assets and liabilities
(Increase)/Decrease in Other non-current financial assets (0.00) (0.00)
(Increase)/Decrease in trade receivables (747.52) (950.91)
(Increase)/Decrease in Other current financial assets (33.35) (23.28)
(Increase)/Decrease in Other current assets (81.91) (112.93)
Increase/(Decrease) in long-term provisions 9.78 10.04
Increase/(Decrease) in trade payables 31.66 98.49
Increase/(Decrease) in Other current financial liabilities 56.03 38.58
Increase/(Decrease) in short-term provisions 0.25 (0.84)
Increase/(Decrease) in other current liabilities 40.10 (20.96)
Cash generated from operations 140.45 254.84
Direct Taxes paid (358.08) (281.78)
Net cash flows from/ (used in) operating activities (217.63) (26.94)
(B) Cash flows from investing activities :
Payments for acquisition of Property, plant and equipments (805.87) (872.25)
Payments for acquisition of Intangible assets (0.05) (0.01)
Loans given / repaid (net) (32.77) 16.62
Interest Received 124.24 114.38
Term deposits (placed) / matured (net) 730.02 (1,671.89)
Net cash flows from/ (used in) investing activities 15.57 (2,413.15)
(C) Cash flows from financing activities :
Proceeds from Fresh Issue of shares – 4,000.00
Share Issue Expenses – (352.00)
Proceeds from Long-term borrowings 15.15 211.85
Repayment of Long-term borrowings (254.25) (244.88)
Proceeds from of short-term borrowings 690.71 (906.87)
Principal lease payments (21.28) (23.21)
Interest paid on lease obligations (9.01) (2.56)
Other interest payments (175.52) (212.57)
Net cash flows from/ (used in) financing activities 245.80 2,469.76
Net increase/(decrease) in cash and cash equivalents (A+B+C) 43.74 29.67
Cash and cash equivalents at the beginning of the period 48.46 18.79
Cash and cash equivalents at the end of the period 92.20 48.46
Particulars As at March 31, 2026 As at March 31, 2025
Cash in hand 3.14 5.10
Balances with bank in current accounts 39.06 43.36
Balances with bank in deposit accounts 50.00 –
Total 92.20 48.46
Particulars Amount (₹ In millions)
Amount received from fresh Issue 4,000.00
Less: Offer expenses in relation to the Fresh Issue (inclusive of taxes) 370.62
Total 3,629.38
Particulars Amount to be utilised as per prospectus Utilised up to March 31, 2026 Unutilised up to March 31, 2026
Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by our Company 1,635.00 1,635.00 –
Funding of capital expenditure requirements of our Company towards purchase of (i) commercial vehicles; (ii) 40 feet specialised containers and 20 feet normal shipping containers; and (iii) reach stackers 1,517.10 604.10 913.00
General corporate purposes 477.28 477.28 –
Total 3,629.38 2,716.38 913.00
Sl No. Particulars Quarter ended 31.03.2026 (Audited) Quarter ended 31.12.2025 (Unaudited) Quarter ended 31.03.2025 (Audited) Year ended 31.03.2026 (Audited) Year ended 31.03.2025 (Audited)
1 Revenue from operations 4,957.16 4,780.89 4,285.79 18,292.38 17,257.20
2 Other income 32.61 27.56 48.49 145.49 132.05
3 Total income (1 + 2) 4,989.77 4,808.45 4,334.28 18,437.87 17,389.25
4 Expenses
(a) Operational expenses 4,406.70 4,216.05 3,746.66 16,149.54

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