The stock of Western Carriers (India) Ltd rose as high as 13.5 percent intraday on January 3, after the company secured a significant contract worth Rs 139 crore from Vedanta Ltd. The agreement involves the handling of import, finished goods (FG) domestic, and export materials at Vedanta's JSG Plant and will span a period of four years.
At 11:43 am on January 3, the stock was trading at Rs 123.86, up by 6.87 percent
The company clarified in a stock exchange filing that this contract was awarded by Vedanta, an unrelated party, and was negotiated at arm's length, aligning with Western Carriers' corporate objectives.
In Q2FY2025, Western Carriers (India) Ltd reported a modest increase in net profit. Net profit rose by 3.6 percent to Rs 18.96 crore compared to Rs 18.30 crore in the corresponding quarter of the previous year. Revenue from operations also saw a slight growth of 1.3 percent year-on-year, reaching Rs 431.43 crore. EBITDA (excluding other income) grew by 7.68 percent to Rs 361.41 million, driven by an improvement in EBITDA margins, which expanded by 50 basis points to 8.38 percent in Q2 FY25.
Western Carriers is a leading private logistics company in India, specialising in multi-modal transportation with a strong focus on rail. Operating with a lean asset base, the company serves a diverse customer base of over 1,600 across various sectors, including metals and mining, FMCG, pharmaceuticals, building materials, chemicals, oil and gas, and utilities.
Its client roster includes major players such as Tata Steel, Hindalco Industries, Vedanta, BALCO, HUL, Coca-Cola India, Tata Consumer Products, Wagh Bakri, Cipla, Haldia Petrochemicals, and Gujarat Heavy Chemicals, among others.
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