Western Carriers (india) Limited · NSE:WCIL
Western Carriers (india) — Q3 FY26 Earnings Presentation
36 slides from Western Carriers (india)'s earnings presentation, Feb 14, 2026
Slide 1: Exchange filing cover letter for investor presentation
Date: February 14, 2026 To, To, The General Manager The General Manager Department of Corporate Services, Department of Corporate Services, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai- 40000
Slide 2: Western Carriers (India) Limited Investor Presentation Q3 & 9MFY26
Western Carriers (India) Limited Investor Presentation | Q3 & 9MFY26
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Western Carriers (India) Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Company Overview
Company Overview SSS
Slide 5: WCIL: The Largest & Fastest Growing 4PL Logistics Solutions Provider
WCIL: The Largest & Fastest Growing 4PL Logistics Solutions Provider Multi-modal, rail- Trusted provider of Specialized in customized Founded in Legacy of over focused, 4PL asset-light seamless multimodal end-to-end supply chain 1972 5 Decades logistics company logistic solutions solutions Largest p
Slide 6: Our Principles & Strategic Aim
Our Principles & Strategic Aim Our Core Principles Trust • Seamless ‘pick, pack, drop’ operations • Single-window solutions to resolve supply chain complexities Timeliness • Multimodal transport ensures timely delivery • Customized logistics based on client needs Transparency • Control over entire l
Slide 7: Journey of over Five Decades
Journey of over Five Decades 2022 2024 2025 Won a multimodal Listed on stock Won a multimodal logistics contract from a exchnages- NSE & BSE logistics contract from a large aluminium company Vedanta Ltd. 2020 2019 2018 Achieved turnover of Certified as Authorised Economic Onboarded as EXIM partner ₹
Slide 8: Comprehensive Service Portfolio
Comprehensive Service Portfolio One of the largest multi-modal, rail focused, 4PL asset-light logistic solutions provider in India Western Carriers India Limited 3PL, 4PL Supply Rail transport Road transport CHA / Stevedoring Chain & VAS Warehousing and Water & Air Freight Project logistics Stock Ma
Slide 9: Value-Added Services Across the Supply Chain
Value-Added Services Across the Supply Chain Packaging and Export haulage and Arrival and Inland Haulage and Multimode Production Departure transportation documentation unloading custom clearance Transport Warehousing & Inventory Issuance of Bill of Lading Container inspection and Customs House Agen
Slide 10: Turning Customer Challenges into Growth Opportunities
Turning Customer Challenges into Growth Opportunities Customer Pain Point WCIL Solution Multi-modal routes with seamless High transit times interchanges Lack of visibility GPS tracking and control of end-to-end chain Multiple intermediaries Single-window logistics provider Fewer trans-shipment point
Slide 11: Long-Standing Relationships with Customers
Long-Standing Relationships with Customers More than 1,600 clients served Long-term partnerships with industry 80% of FY25 revenue from customers 100% retention rate for top across India leaders across various sectors with >3-year relationships 10 clients Sectoral Revenue Mix 15% 4% 8% FY25 55% 19%
Slide 12: Operational Footprint and Infrastructure
Operational Footprint and Infrastructure Nationwide Infrastructure & Asset Base (as of March 31, 2025) Nationwide Presence Jammu 50+ branches, 4 zonal offices across 23 states Jalandhar 16 leased warehouses in 12 states Ambala 55+ major rake handling points Haridwar Panipat Udham Singh Nagar Delhi D
Slide 13: Technology & Innovation Capabilities
Technology & Innovation Capabilities Pioneers in Logistics Technology Fully Integrated ERP System First movers in implementing: • Real-time shipment tracking across modes • GPS on cross-country vehicles • In-depth reporting on fleet, stock, sales, purchases • FASTag for toll payments • Automated e-i
Slide 14: Industry Overview
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Slide 15: Indian Logistics Sector
Indian Logistics Sector India’s logistics sector to grow The logistics sector contributes Government aims to cut Government targets to reach Warehousing market expected 35 Multimodal Logistics Parks from $317B (2024) to $484B 5% to India’s GDP logistics costs from 14% to 8% top 25 in the global Logi
Slide 16: Key Growth Drivers – Indian Logistics Sector
Key Growth Drivers – Indian Logistics Sector Supply-Side Enablers • Major infrastructure push through DFC, Gati Shakti, Bharatmala, and multimodal logistics parks • Simplified regulatory landscape with GST, e-way bills, and infrastructure status for logistics • Strong FDI inflows and increased publi
Slide 17: B2B Growth Drivers for the Logistics Sector
B2B Growth Drivers for the Logistics Sector MSME Expansion Sustainability as a Differentiator MSMEs contribute ~31% to GDP and ~46% to exports; government schemes like ‘Make in India’ and Shift toward EV fleets, clean fuels, and energy- ‘Aatmanirbhar Bharat’ are fueling logistics demand efficient sm
Slide 18: Unique Value Proposition
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Slide 19: What Sets Us Apart
What Sets Us Apart Parameters Traditional 3PL service providers Our Company Transportation, warehousing and value-added Level of service offerings End-to-end supply chain management services Asset-light; leased infrastructure and fleet and selective Typical nature of asset ownership Asset-light; mai
Slide 20: Streamlined Logistics: CHA, AEO & Stevedoring Expertise
Streamlined Logistics: CHA, AEO & Stevedoring Expertise • Full team of professionals including CMD and CEO are certified Rule 8 CHA license holders, ensuring deep Licensed CHA Presence regulatory expertise throughout the supply chain & Capabilities • CHA licenses across major Indian ports including
Slide 21: A Platform Built for Growth
A Platform Built for Growth Integrated Multimodal One-Stop, Customer Needs Value-Added Services Transport End-to-End Solution Handling complexities with Warehousing, Customs, Rail/ Road/ River/ Ocean/ Tailored, tech-enabled, customized solutions Packaging, Labeling, etc.) Air customer-centric Asset-
Slide 22: Growth Engines for the Future
Growth Engines for the Future Deepen Customer Relationships Customer Acquisition & Sector Geographic Expansion Expansion • Expand service scope and geographies for • Leverage operational success to onboard new • Grow footprint through customer-led regional existing clients clients entry • Increase w
Slide 23: Financial Highlights
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Slide 24: Nine Months Financial Performance (Consolidated)
Nine Months Financial Performance (Consolidated) Volume (TEUs) Revenue (₹ in Cr) 168,824 1,297 1,334 158,119 98,103 1,05,821 60,016 63,003 9MFY25 9MFY26 9MFY25 9MFY26 EXIM Domestic EBITDA (₹ in Cr) & EBITDA Margin (%) PAT (₹ in Cr) & PAT Margin (%) 7.0% 4.8% 3.9% 2.3% 95 51 64 31 9MFY25 9MFY26 9MFY2
Slide 25: Key Financial Metrics (Consolidated)
Key Financial Metrics (Consolidated) ROE (%) ROCE (%) 26.9 33.4 24.8 29.7 29.2 22.4 12.2 15.3 2.8 4.8 FY22 FY23 FY24 FY25* H1FY26 FY22 FY23 FY24 FY25* H1FY26 DEBT/Equity (x) Working Capital (Days) 0.7 0.7 0.6 111 119 96 73 58 0.2 0.2 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 *ROE, ROCE a
Slide 26: Quarterly Financial Performance (Consolidated)
Quarterly Financial Performance (Consolidated) Revenue (₹ in Cr) EBITDA (₹ in Cr) & EBITDA Margin (%) PAT (₹ in Cr) & PAT Margin (%) 5.3% 5.0% 3.0% 2.3% 478 23 24 13 443 11 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 25
Slide 27: Quarterly Income Statement (Consolidated)
Quarterly Income Statement (Consolidated) Particulars(₹ Crs) Q3FY26 Q3FY25 Y-o-Y Q2FY26 Q-o-Q 9MFY26 9MFY25 Y-o-Y Revenue from Operations 478.1 443.0 439.6 1333.5 1297.1 Total Revenue 478.1 443.0 7.9% 439.6 8.8% 1333.5 1297.1 2.8% Operational Expenses 421.6 388.5 387.6 1174.3 1115.1 Gross Profit 56.
Slide 28: Income Statement (Consolidated)
Income Statement (Consolidated) Particulars(₹ Crs) FY22 FY23 FY24 FY25 9MFY26 Revenue from Operations 1,470.9 1,633.1 1,685.8 1,725.7 1333.5 Total Revenue 1,470.9 1,633.1 1,685.8 1,725.7 1333.5 Operational Expenses 1,280.4 1,421.3 1,436.6 1,489.8 1174.3 Gross Profit 190.5 211.7 249.2 236.0 159.2 Gro
Slide 29: Balance Sheet (Consolidated) – Assets
Balance Sheet (Consolidated) Assets (₹in crs) FY22 FY23 FY24 FY25 H1FY26 Non ‐ Current Assets Property, plant and equipment 36.3 55.3 71.1 119.1 138.5 Goodwill 31.0 31.0 31.0 31.0 31.0 Capital work‐in‐progress 9.5 16.8 0.0 15.0 21.3 Right of use assets 3.7 4.5 2.9 3.5 8.8 Other Intangible assets 0.1
Slide 30: Balance Sheet (Consolidated) – Equity & Liabilities
Balance Sheet (Consolidated) Equity & Liabilities (₹in crs) FY22 FY23 FY24 FY25 H1FY26 Equity (a) Equity share capital 39.4 39.4 39.4 51.0 51.0 (b) Other equity 218.0 279.1 359.0 777.1 796.3 Equity attributable to equity holders of the parent 257.4 318.4 398.4 828.1 847.3 Non‐controlling interests 0
Slide 31: Cash Flow Statement (Consolidated)
Cash Flow Statement (Consolidated) Particulars (₹in crs) FY22 FY23 FY24 FY25 H1FY26 Cash Flow from Operating Activities Profit before Tax 83.4 96.1 108.4 87.8 26.9 Adjustment for Non-Operating Items 24.4 27.4 38.9 33.9 13.7 Operating Profit before Working Capital Changes 107.8 123.5 147.3 121.7 40.5
Slide 32: Annexures
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Slide 33: Accomplished Board of Directors
Accomplished Board of Directors Rajendra Sethia Kanishka Sethia Sushila Sethia Chairman & Managing Director Whole Time Director, CEO & CFO Whole Time Director Sunil Munshi Bipradas Bhattacharjee Rajni Mishra Independent Director Independent Director Independent Director 32
Slide 34: Experienced Senior Management Team
Experienced Senior Management Team Sapna Kochar Kanhaiya Lal Baid Ravi Kumar Bhaskar Menon Company Secretary & Compliance Vice President (Operations) Vice President (Operations) Officer Selvam Sankaralingam Rajiv Ranjan Kumar Deputy Vice President (Marketing) Deputy VP-Project & Infra 33
Slide 35: Awards
Awards 2025 2024 2022 2022 Awarded the “Best Certificate of recognition as leading Appreciation award for outstanding Certificate of appreciation in recognition Logistics and Supporting logistic organisation of West Bengal services and timeliness and for diligence of superior performance in the cate
Slide 36: Thank You
Thank You COMPANY : INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited Western Carriers (India) Limited A part of MUFG Corporate Markets, a division of CIN: L63090WB2011PLC161111 MUFG Pension & Market Services Ms. Sapna Kochar Ms. Nidhi Vijaywargia investors@westcong.com Mr. Aryan Sumra
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