Investor presentationAug 2026
Aug 2026 · PPT
Source: Nse
Blue Water Logistics Ltd. (BLUEWATER)
SME CapServices stocks · SME cap · NSE
Blue Water Logistics Ltd. (BWL) provides end-to-end logistics and supply chain solutions, including freight forwarding, customs clearance, multimodal transportation, NVOCC, ocean, air, surface, and rail freight. Headquartered in Hyderabad, it operates 13 branch offices and has a presence in 28+ countries, serving 1,500+ clients.
₹556
+19.45 · +3.63%
Market cap ₹590 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result16 Aug, 01:45 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
79Bullishfull bull SMA stack · SMA20 +14.4% / mo · MACD − · near 52W high
Stock trend: 79
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
BLUEWATERD candles · FIT view+195.7%Latest close ₹556.00 on 2026-10-19
Bar
-0.7%
RSI
61
MACD hist
-3.99
52W pos
92%
2026-10-19O ₹559.95H ₹563.35L ₹556.00C ₹556.00Vol 6,000 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BLUEWATERNifty 500
- BLUEWATER
- +36.5%
- Nifty 500
- -5.6%
- Vs Nifty 500
- +42.1 pp
Chart stats
19 Oct 2026- From 52W high
- -6.5%
- 52W range position
- 92%
- ATR (14)
- 5.1%
- Volume vs 20D
- 0.26x
- Avg traded value
- ₹1.2 Cr
- 20D price channel
- ₹467 - ₹594.7
₹594.7
₹128 - ₹594.7
₹28.1
Latest completed session
20-session average
49.0% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED63
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good72
Revenue +313.7% · PAT +250.0% YoY
Technical
Bullish79
Price trend and sector-relative-strength timing.
Valuation
Legacy model+35.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence63
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 72/100Rev +314% YoY · PAT +250% YoY · +56% QoQ · margin compression
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹211 Cr | +313.7% | +56.3% |
| EBITDA | ₹24 Cr | +242.9% | +60.0% |
| Operating margin | 11.0% | -200 bps | +0 bps |
| PAT | ₹14 Cr | +250.0% | +55.6% |
| PAT margin | 6.6% | -120 bps | -3 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 16.60
- P/B
- 7.29
- EV/EBITDA
- 10.26
- Market Cap
- 590.00Cr
Profitability
- ROE
- 49.80%
- ROCE
- 31.40%
- ROA
- 15.25%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 53.64%
- EPS 5Y
- 105.98%
- Revenue 3Y
- 58.00%
- EPS 3Y
- 154.00%
Balance Sheet
- Debt/Equity
- 1.33
- Interest Coverage
- 8.71×
- Altman Z
- 5.99
- Book Value
- 73.70
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -53.00 Cr
- EPS TTM
- 32.41
Shareholding
- Promoter Hold
- 69.55%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 88%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 386+96.9% vs prev
Net Profit
₹ CrLatest: 25.0+127.3% vs prev
Return on Equity
%Latest: 30.9-43.9% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 61.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~12.6% over last month) — short-term momentum positive.
- RSI(14) at 61 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 7% off 52W high · 328% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
98
RS percentile
Stage 2 UptrendEstablished S2
1M return
+17.1%
3M return
+36.5%
6M return
+194.0%
1Y return
+256.1%
RS 1D
0
RS 20D
0
Sector rank
#12
Industry rank
#40
Stage evidence
- Price is 58.6% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +17.2%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
22 Apr 2026
S2 age
127 trading sessions
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
253 observations
19 Oct 2026Value 376.32+4.70%
RS vs Nifty 500376
Valuation & peers
U-Score 63 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 63 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · UNDERVALUEDValuation10/30
Growth25/25
Quality18/20
Balance Sheet8/15
Cash Flow0/10
Piotroski
5/9 (+3)
Penalties
-1
Raw sum
63
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
63/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 35.4%.
- Growth contributes 25/25 to the score.
- Quality contributes 18/20 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Valuation is weaker at 10/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
16.6
PB
7.3
EV/EBITDA
10.3
ROE
49.8%
ROCE
31.4%
FCF Yield
—
Debt/Equity
1.3
MoS
+35.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
63
Previous: 63
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+35.4%
Previous: +35.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
63
63
63
66
66
66
66
63
63
63
63
63
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹231.83
-139.8% MoS
Growth-justified P/E
26.6
Growth-justified Value
₹860.49
+35.4% MoS
PEG
0.13
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SJLOGISTIC
SME
S J Logistics (India) Ltd.
Logistics
match 87
80
6.6
29.1%
+76%
DEEP VALUE
COMMITTED
SME
Committed Cargo Care Ltd.
Logistics
match 87
42
43.4
13.7%
+1%
WATCHLIST
ASHWINI
SME
Ashwini Container Movers Ltd.
Logistics
match 84
60
17.6
25.1%
+35%
UNDERVALUED
OLIL
SME
Oneclick Logistics India Ltd.
Logistics
match 82
21
114.0
5.5%
-322%
OVERVALUED
JAYESH
SME
Jayesh Logistics Ltd.
Logistics
match 82
62
10.8
29.0%
+59%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-23T20:11:28.991Z
Management commentary snapshot
Blue Water Logistics reported strong FY26 results with revenue nearly doubling to INR 386 Cr (97% YoY growth), EBITDA up 134% to INR 44 Cr, and PAT up 135% to INR 25 Cr, driven by volume growth and improving operational leverage.
The company delivered robust FY26 performance, significantly outpacing prior year metrics across revenue and profitability. Strategic fleet expansion, new office openings, and diversification into high-growth segments like air freight and NVOCC are driving momentum. Management's focus on international expansion and organized sector shift positions BWL for continued growth.
Current business mix
FY26 Revenue by Segment
Latest issuer-disclosed distribution across 5 reported categories.
Ocean Freight70.0%
NVOCC8.0%
Surface Freight & Railway Freight6.0%
Air Freight13.0%
Custom House Clearance3.0%
Growth engines
Air Freight Expansion
Air Freight revenue contribution increased from 1% in FY25 to 13% in FY26, backed by an exclusive partnership with Turkish Airlines.
Diversification into New Verticals
Company plans to explore dry containers and project cargo verticals, leveraging existing client relationships for immediate entry.
Expanding Global & Domestic Presence
New offices opened in Mumbai and Chennai, with the Dubai office becoming fully operational, strengthening Middle East and Africa connectivity.
Asset-Backed Logistics
Expanded fleet to 1,708+ ISO tanks and 100+ container trailers, enhancing scale, flexibility, and service capability.
Capacity and execution
ISO Tank Fleet
Expanded ISO tank fleet to 1,708+ containers for liquid cargo.
Container Trailer Fleet
Expanded 40-feet trailer fleet to 100+ units for domestic pick-up and delivery.
New Branch Offices
Expanded domestic presence with new offices in Mumbai and Chennai; Dubai office became fully operational.
Tailwinds
Indian Logistics Sector Growth
The Indian logistics sector is growing at a 14% CAGR, with a shift towards organized, compliant freight operators accelerating.
Government Policy Support
PM GatiShakti and National Logistics Policy are reducing friction and formalizing the sector, benefiting organized players like BWL.
Infrastructure Development
Massive infrastructure build, including expanded National Highways, railways, ports, and 35 Multi-Modal Logistics Parks, boosts freight capacity.
Technology Adoption
AI, GPS, blockchain, e-way bills, and FASTag are cutting costs and boosting margins sector-wide, benefiting organized operators.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both Year-on-Year (YoY) and Quarter-on-Quarter (QoQ) comparisons are provided in the financial statements. YoY highlights the significant annual growth and operational leverage, while QoQ shows sequential momentum in a rapidly expanding business.
Sector KPIs management disclosed
FY26 Revenue
FY26 Revenue was INR 38,602.1 Lacs (INR 386 Cr), a 96.8% YoY increase from FY25.
FY26 EBITDA
FY26 EBITDA was INR 4,397.3 Lacs (INR 44 Cr), a 133.9% YoY increase from FY25.
FY26 PAT
FY26 PAT was INR 2,520.7 Lacs (INR 25 Cr), a 135.4% YoY increase from FY25.
FY26 ROE
FY26 Return on Equity (ROE) was 49.8%, compared to 72.1% in FY25.
Management forward view
FY26 Performance Assessment
Management states FY26 was a landmark year, with revenue nearly doubling and strong growth in EBITDA and PAT, reflecting improving operational leverage.
Future Growth Strategy
Company will continue scaling air freight, explore dry containers and project cargo, and prioritize international expansion into Indonesia, Vietnam, Malaysia, Thailand, and China.
Operational Strength
Management highlights strong client portfolio, negligible bad debts, and disciplined credit management as key strengths.
Outlook
Management enters FY27 with strong momentum, clear strategic direction, and confidence in delivering sustained and profitable growth.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | FY26 Revenue: INR 386 Cr (96.8% YoY) | Sustained high double-digit revenue growth, particularly from new verticals and international markets. |
| Air Freight Contribution | FY26 Air Freight: 13% of total revenue | Further increase in air freight's share of revenue, driven by additional airline partnerships. |
| International Expansion | Dubai office fully operational; plans for Southeast Asia and China | Concrete progress and revenue contribution from new international markets like Indonesia, Vietnam, Malaysia, Thailand, and China. |
| Operational Efficiency | FY26 EBITDA Margin: 11.4% | Maintenance or improvement of EBITDA margins as the company scales and diversifies. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
63Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 38th percentile of the scored universe and 40th percentile within Services. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
38th percentile
overall median 67 · Services: 40th pctile, median 66 · SME: 45th pctile, median 64
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
69
acceptable · leverage and solvency
Discipline
80
strong · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 69.6%.
- ▸Promoter pledge is zero.
- ▸ROCE is 31.4%.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-53 Cr.
- ▸Only 1 years of positive FCF.
- ▸Debt/equity is 1.33.
- ▸ROCE trend is -5.6%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Blue Water Logistics Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Nse
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Investor presentationJun 2026
Jun 2026 · PPT
Source: Nse
Annual report
Annual Report 2026
Source: Nse
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Investor presentationNov 2025
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All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.