Western Carriers

Western Carriers delivered a resilient Q3 FY26 with revenue of ₹478 croreCurrent reported value: ₹478 crore. No comparable prior figure is available in the source record., EBITDA of ₹24 croreCurrent reported value: ₹24 crore. No comparable prior figure is available in the source record., and PAT of ₹11 croreCurrent reported value: ₹11 crore. No comparable prior figure is available in the source record., showing strong sequential improvement. Revenue grew ~9% QoQ, EBITDA surged 27% QoQ, and EBITDA margin expanded from 4.3% to 5.0%Current reported value: 5.0%. No comparable prior figure is available in the source record.. The key driver was robust volume growth: domestic containers rose 14.9% YoYCurrent reported value: 14.9% YoY. No comparable prior figure is available in the source record. to 23,565 TEUsCurrent 23,565 TEUs. Reported change: +14.86% YoY. and EXIM containers grew 14.4% YoYCurrent reported value: 14.4% YoY. No comparable prior figure is available in the source record. to 38,638 TEUsCurrent 38,638 TEUs. Reported change: +14.36% YoY., totaling ~8,000 incremental TEUs. Management highlighted tailwinds from the India-EU FTA, India-US trade deal, and the upcoming western DFC completion. The company has a strong order book and completed ₹30+ crore capex in specialized containers and equipment. A risk remains: gross margins declined YoY from 14% to 12% due to a 2% dip in EXIM realizations, though management expects improvement as geopolitical conditions stabilize.