Integrated Filing — IndAS



General information about company

Scrip Code 544258
NSE Symbol WCIL
MSEI Symbol NOTLISTED
ISIN INE0CJF01024
Name of company WESTERN CARRIERS (INDIA) LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 10-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment LOGISTICS AND ALLIED SERVICES
Start date and time of board meeting 14-11-2025   14:15:00
End date and time of board meeting 14-11-2025   15:50:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 43,961.50 85,543.30
Other income 436.30 853.20
Total income 44,397.80 86,396.50
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 1,553.40 3,020.80
(e) Finance costs 452.80 906.00
(f) Depreciation, depletion and amortisation expense 649.70 1,224.10
(f) Other Expenses
1 Operational expenses 38,764.60 75,267.90
2 Other expenses 1,761.40 3,292.80
Total other expenses 40,526.00 78,560.70
Total expenses 43,181.90 83,711.60
3 Total profit before exceptional items and tax 1,215.90 2,684.90
4 Exceptional items 0.00 0.00
5 Total profit before tax 1,215.90 2,684.90
6 Tax expense
7 Current tax 317.80 726.50
8 Deferred tax 3.60 (14.50)
9 Total tax expenses 321.40 712.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 894.50 1,972.90
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.10 0.20
16 Total profit (loss) for period 894.60 1,973.10
17 Other comprehensive income net of taxes 34.10 (49.00)
18 Total Comprehensive Income for the period 928.70 1,924.10
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0.00 0.00
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0.00 0.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 5,097.80 5,097.80
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.88 1.94
Diluted earnings (loss) per share from continuing operations 0.88 1.94
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.88 1.94
Diluted earnings (loss) per share from continuing and discontinued operations 0.88 1.94
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1.The statement of consolidated unaudited financial results for the quarter and half year ended September 30, 2025 (Financial Results) have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 14, 2025. 2.The group consists of the parent and its three associates namely, F. M Carriers Private Limited, Success Suppliers Private Limited, S M P Properties Private Limited. 3.The Financial Results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 interim Financial Reporting (Ind AS 34), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 4.The Group is primarily engaged in business of logistics and allied services to various customers in India and is a major logistics service provider. The Board of directors which has been identified as the Chief Operating Decision Maker ('CODM') reviews the performance of the Company as a single operating segment in accordance with Ind AS-108 Operating Segments, notified pursuant to the Companies (Indian Accounting Standard) Rules 2015. Accordingly, no separate segment information has been furnished herewith. 5.The parent company completed its Initial Public Offer (IPO) of 28,655,813 equity shares of face value of Rs. 5 each at an issue price of Rs. 172 per share (including a share premium of Rs. 167 per share) out of which 23,255,813 equity shares were issued and subscribed. The issue comprised of a fresh issue of 23,255,813 equity shares aggregating to Rs. 4,000.00 million and offer for sale of 5,400,000 equity shares by selling shareholders aggregating to Rs. 928.80 millions. Pursuant to the IPO, the equity shares of the parent company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on September 24,2024. The total offer expenses were estimated to be Rs 456.52 millions (inclusive of taxes). Out of the total expenses Rs 85.90 millions (inclusive of taxes) is to be borne by selling shareholders Particulars Amount (Rs 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 The utilisation of IPO proceeds of Rs 3629.38 Millions (net of IPO expenses of Rs 370.62 Millions) is summarised below: Particulars Amount to be utilised as per prospectus Utilised up to September 30, 2025 Unutilised up to September 30, 2025 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 1,517.10 415.26 1,101.84 General corporate purposes 477.28 321.22 156.06 Total 3,629.38 2,371.48 1,257.90 Net proceeds of Rs 1,257.90 millions which were unutilised as at September 30, 2025, were temporarily invested fixed deposit account with scheduled commercial banks 6.The unaudited consolidated financial results for the quarter and half year ended September 30, 2025 are available on the parent company website www.western-carriers.com.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 13,845.70
Capital work-in-progress 2,129.60
Investment property 0.00
Goodwill 3,100.00
Other intangible assets 8.20
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 322.90
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 783.40
Total non-current financial assets 783.40
Deferred tax assets (net) 441.80
Other non-current assets 3,067.10
Total non-current assets 23,698.70
2 Current assets
Inventories 0.00
Current financial asset
Current investments 0.00
Trade receivables, current 64,824.00
Cash and cash equivalents 340.60
Bank balance other than cash and cash equivalents 16,618.30
Loans, current 2,610.80
Other current financial assets 865.80
Total current financial assets 85,259.50
Current tax assets (net)
Other current assets 6,347.50
Total current assets 91,607.00
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 1,15,305.70
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 5,097.80
Other equity 79,634.20
Total equity attributable to owners of parent 84,732.00
Non controlling interest
Total equity 84,732.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 1,071.40
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 711.90
Total non-current financial liabilities 1,783.30
Provisions, non-current 832.40
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 0.00
Total non-current liabilities 2,615.70
Current liabilities
Current financial liabilities
Borrowings, current 17,321.10
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 190.40
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 7,675.80
Total Trade payable 7,866.20
Other current financial liabilities 2,175.20
Total current financial liabilities 27,362.50
Other current liabilities 571.40
Provisions, current 24.10
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 27,958.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 30,573.70
Total equity and liabilites 1,15,305.70
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of the employees defined benefit plans 4570000 -6540000
Total Amount of items that will not be reclassified to profit and loss 45.70 (65.40)
2 Income tax relating to items that will not be reclassified to profit or loss 11.60 (16.40)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 34.10 (49.00)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 2,684.90
Adjustments for reconcile profit (loss)
Adjustments for finance costs 906.00
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (2,781.60)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (1,850.20)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (96.30)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 363.30
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 1,224.10
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 1.50
Adjustments for provisions, non-current 86.10
Adjustments for other financial liabilities, current 300.30
Adjustments for other financial liabilities, non-current (85.00)
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 761.30
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (2,693.10)
Net cash flows from (used in) operations (8.20)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,766.10
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (1,774.30)
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 2,024.60
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 62.20
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 761.30
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 2,773.90
Net cash flows from (used in) investing activities 1,448.40
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 2,592.70
Repayments of borrowings 1,401.10
Payments of lease liabilities 103.70
Dividends paid 0.00
Interest paid 906.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 181.90
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (144.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (144.00)
Cash and cash equivalents cash flow statement at beginning of period 484.60
Cash and cash equivalents cash flow statement at end of period 340.60