Blue Water Logistics Ltd — Q4 FY26
Blue Water Logistics delivered a stellar Q4 FY26 with revenue surging 97% YoY to ₹386 crore, driven by strong demand across logistics verticals, expansion of asset base, and new...
bullish
high
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
46%Questions answered5Evaded / deflected12Questions auditedContradictedNumbers vs filing
Partial answer
Medium priority
Guidance on diversification into containers and project cargo
Asked by Part, IDBI Capital
Management described strategy but gave no quantitative guidance on revenue or investment.
no specific financial guidancevague on timeline
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Question
So we are uh I think we have diversified into containers and project cargo. So could you help me with the guidance on that like what are the sort of strategies that we'll be following?
Management (unidentified)
We are planning to go ahead with the dry box logistics. We will be purchasing our own plate of containers. That will help us to grow internationally like we are planning to start Malaysia, Thailand, China, Vietnam, Indonesia and other parts.
Evasive
High priority
FY27 revenue and EBITDA guidance
Asked by Part, IDBI Capital
Management did not provide any specific revenue or EBITDA guidance, only vague confidence.
no numbers givenvague reference to same growth
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Question
My second question more FI 2010 guidance. Uh what are you looking at in terms of next year in terms of topline as well as aa?
Management (unidentified)
We are very confident of continuing the same growth what we had this current year. We are confident of achieving it next year also. The same kind of growth what we are seeing now.
Evasive
Medium priority
ISO tank fleet addition plan this year and next
Asked by Deepak Potar, Sapphire Capital
Management did not give any concrete addition plan, only said they will review.
no specific numbersdeferred to future review
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Question
I think currently we have a fleet of close to 1,700 close right around 1,700 something. So what's the addition plan on ISO tanks? I mean this year and next year.
Management (unidentified)
We are just looking at the 1708 that we are having. We are reviewing it for next three months then we'll be again expanding it.
Answered
High priority
Vision for fleet size in 2-3 years
Asked by Deepak Potar, Sapphire Capital
Management gave a specific target of 5,000+ tanks in 3 years.
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Question
Any vision we have any view I mean next two three years where we want to take it.
Management (unidentified)
Within next 3 years we are planning 5,000 plus 5,000 plus 5,000 plus tanks.
Answered
High priority
Which business segment has higher margins?
Asked by Deepak Potar, Sapphire Capital
Management clearly identified ISO and dry containers as higher margin.
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Question
You were mentioning about some high higher margin business. I mean what how would you categorize? I mean is air freight or NVOCCR your higher margin category?
Management (unidentified)
Air freight and freight forwarding is a day-to-day job. ISO and dry container division is a higher margin business for us going forward.
Partial answer
High priority
Expected PAT margins for FY27
Asked by Deepak Potar, Sapphire Capital
Management said maintain and improve but gave no specific margin target.
no specific margin guidancevague improvement
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Question
For this year FI26 I think we were at about 6 and a half% pat margins right so how should one look at your margins in FI27?
Management (unidentified)
We are looking to maintain plus have some growth on this. I mean six and a half% with some improvement.
Evasive
Medium priority
Impact of global situation on business in FY27
Asked by Deepak Potar, Sapphire Capital
Management gave no quantitative impact assessment, only general positivity.
no specific datavague optimism
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Question
This global situation I mean you have been very resilient in FI26 but how you going to look at now this first half of first quarter FI27 and going ahead how you going to look at the global impact on us?
Management (unidentified)
Our new year has started very well. We have got very good numbers. It is not a challenge for us. In fact, it is giving us a opportunity to grow.
Evasive
High priority
Plan to manage increased receivables
Asked by Weber Loya, Let's see FM
Management attributed spike to March but gave no concrete management actions.
no specific planvague timeline
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Question
Receivables have been increased significantly compared to the previous. So like how do you plan to manage this?
Management (unidentified)
All the receivables are from our new customers which has been piled up in the month of March. In the coming years we will improve it.
Evasive
High priority
When will cash flow turn positive?
Asked by Weber Loya, Let's see FM
Management did not commit to a specific quarter or year for positive cash flow.
no specific timelinevague 'possibly'
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Question
When can we expect the cash flow turning positive because I understand you are in a growing phase for next few years.
Management (unidentified)
In the current financial year as well as in the next financial year it will improve it will turn positive possibly.
Answered
High priority
Confirmation of doubling revenue for next 3-4 years
Asked by Weber Loya, Let's see FM
Management confirmed doubling growth for next 2-3 years.
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Question
We can expect this doubling for the next 3 to four years at least, right?
Management (unidentified)
Yes. The platform is set for the next two to three years for us for the growth.
Partial answer
Medium priority
Customer acquisition strategy to double revenue
Asked by AIT Mahandle, Robo Capital
Management described approach but gave no quantitative targets or KPIs.
no specific metricsvague sector targeting
Read the exchange
Question
How are we acquiring customers like to double the revenue? What is a go to market strategy?
Management (unidentified)
We are targeting the customers which we are not carrying. It becomes easy for us to take the business. We are targeting the chemical industry, project cargo industry.
Answered
High priority
ISO container revenue in FY26 and expected FY27-28
Asked by AIT Mahandle, Robo Capital
Management gave specific percentage of revenue for FY26 and FY27 expectation.
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Question
On the ISO container revenue what was the FI26 revenue and what do you expect it to be 27 28?
Management (unidentified)
FI 26 we had around 8% of the total revenue from ISO. Going forward in the next year we are expecting close to 20%.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| PAT margin for FY26 was about 6.5% | 6.5% | 11.4% | Understated vs filing |
| Q4 FY26 turnover was close to 138 CR | ₹138 cr | ₹386 cr | Understated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.