Waterways Leisure Tourism Limi Earnings Summary — Q1 FY2027
Waterways Leisure Tourism (Cordelia) Posts Robust Revenue Growth Amid Planned Capacity Expansion
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 23.4% sequentially in Q1 FY2027.
- Revenue is at its highest level in 10 quarters.
- Operating margin stands at 23.7% in Q1 FY2027.
- PBT margin is 17.4%.
- Operating leverage has been under pressure recently.
- Overall quarterly business momentum scores 74/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q1 FY2026 | Q2 FY2020 | Q1 FY2020 | Q4 FY2019 | Q3 FY2019 | Q2 FY2019 | Q1 FY2019 | Q4 FY2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 190 | 154 | 176 | — | — | — | — | — | — | — |
| Expenses | Improving | 145 | 117 | 121 | — | — | — | — | — | — | — |
| Operating Profit | Softening | 45 | 37 | 55 | — | — | — | — | — | — | — |
| Operating Margin | Declining | 23.7% | 24.2% | 31.3% | — | — | — | — | — | — | — |
| Other Income | Improving | 2 | 1 | 1 | — | — | — | — | — | — | — |
| Interest | Strong Uptrend | 4 | 3 | 1 | — | — | — | — | — | — | — |
| Depreciation | Improving | 9 | 8 | 7 | — | — | — | — | — | — | — |
| Profit Before Tax | Declining | 33 | 26 | 47 | — | — | — | — | — | — | — |
| Tax | Softening | 10 | 8 | 13 | — | — | — | — | — | — | — |
| Net Profit | Declining | 23 | 18 | 35 | — | — | — | — | — | — | — |
| Net Margin | Declining | 12.0% | 11.7% | 19.7% | — | — | — | — | — | — | — |
Key Takeaways
- Revenue from operations grew 15.8% QoQ to ₹1,901.12 million, reflecting strong seasonal demand in the cruise sector.
- Consolidated Net Profit surged 171.6% sequentially to ₹217.73 million, though it remains down 41.6% compared to the same quarter last year (₹373.08 million).
- The company successfully completed its Initial Public Offering (IPO) of 7.24 million shares, listing on BSE and NSE on July 1, 2026.
- Significant capital deployment noted with an advance of USD 8 million paid for the upcoming vessel 'SUN' to expand fleet capacity.
- Board has approved a 1:10 stock split (subject to shareholder approval) to increase retail liquidity and accessibility.
- Liquidity remains a concern with a historically low current ratio (0.12) and negative working capital structures despite the recent listing.
- Operational expenses rose significantly to ₹1,067.01 million, impacting year-on-year margin sustainability.
- Management identified the business as a single reporting segment, maintaining focus on Indian cruise and holiday services.
Management Guidance
Management expects to receive delivery of the new cruise vessel 'SUN' subsequent to March 31, 2027. The company is currently focusing on capital allocation for fleet expansion and improving market participation via a proposed 1:10 stock split.
Sentiment Shift
Improving
A strong sequential recovery in profits and the successful IPO listing suggest stabilizing operations after a volatile FY26, though YoY comparisons remain challenged by high prior-year bases.
Outlook
The outlook remains tied to the successful integration of the vessel 'SUN' in 2027 and the company's ability to manage its high-debt capital structure while scaling the Cordelia brand in the emerging Indian cruise market.
From the Annual Report (Key Quotes)
“The Company has advanced lease rentals of USD 8 million to step down subsidiary for onward advance payment for the upcoming vessel 'SUN'.”
“The operations of the Group are domiciled in India and constitute a single geographical segment.”
“Subsequent to quarter end, the board... has approved, subject to shareholders approval, sub-division/split of nominal value of existing equity shares of Rs. 10 each into 10 equity shares.”
Official Quarterly Documents
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This summary is AI-generated from Waterways Leisure Tourism Limi's latest quarterly filing and earnings call. For informational purposes only — not investment advice.