---
title: "Blue Water Logistics Ltd (BLUEWATER) — Share Price, Financials & Analysis"
symbol: "BLUEWATER"
company: "Blue Water Logistics Ltd"
canonical: "https://tapetide.com/stocks/BLUEWATER"
isin: "INE0X3M01010"
nse_symbol: "BLUEWATER"
sector: "Logistics & Cargo"
industry: "Logistics Solution Provider"
market_cap_cr: 501.44
generated_at: "2026-09-13T19:54:28.843Z"
---

# Blue Water Logistics Ltd (BLUEWATER)

Canonical page: https://tapetide.com/stocks/BLUEWATER

## Company

- **NSE Symbol:** BLUEWATER
- **ISIN:** INE0X3M01010
- **Sector:** Logistics & Cargo
- **Industry:** Logistics Solution Provider
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2025-06-03
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bwl.co.in

## About

Incorporated in 2010, Blue Water Logistics Ltd 
is in the business of Freight forwarding, Custom clearance, Transportation handling services, etc.[1]

## Latest Price

- **Price:** ₹457.5
- **Change:** +19.5 (+4.45%)
- **Open:** ₹455.85
- **Day High:** ₹457.5
- **Day Low:** ₹454.85
- **Previous Close:** ₹438
- **Volume:** 12000
- **As Of:** 2026-09-11T08:27:59+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:49.923438Z.

- **Market Cap:** ₹501.44 Cr
- **Classification:** SME
- **P/E (reported):** 13.5
- **P/E (TTM):** 14.12
- **EPS (TTM):** ₹32.41
- **Book Value:** ₹73.72
- **Price to Book:** 5.94
- **Dividend Yield:** 0%
- **ROE:** 31.08%
- **ROCE:** 36.07%
- **Debt to Equity:** 1.33
- **Revenue (yearly):** ₹386.3 Cr
- **Net Income:** ₹25.2 Cr
- **EBITDA:** ₹44.3 Cr
- **52-Week High:** ₹502.95
- **52-Week Low:** ₹128
- **RSI (14):** 46.5

## Tapetide Score

- **Score:** 50 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 47.7 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 41.03 | 9% |
| growth | 98.77 | 9% |
| momentum | 98.9 | 12% |
| ownership | 33.7 | 24% |
| quality | 43.22 | 22% |
| valuation | 48.61 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has a good return on equity (ROE) track record: 3 Years ROE 58.1%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
- Debtor days have increased from 95.9 to 134 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -512.03% | — | -496.36% |
| ebitda margin growth | 52.9% | 19% | 50.39% | — |
| net income growth | 52.17% | 135.51% | 154% | — |
| revenue growth | 55.94% | 96.79% | 58% | — |
| roce | — | -28.06% | -41.47% | — |
| roe | — | -41.29% | 48.89% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 62 | 53 | 51 | 87 | 112 | 135 | 211 |
| Expenses | 57 | 45 | 44 | 78 | 99 | 120 | 188 |
| Operating Profit | 5 | 7 | 7 | 9 | 13 | 15 | 24 |
| OPM % | 8 | 14 | 13 | 10 | 12 | 11 | 11 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 3 |
| Depreciation | 0 | 1 | 1 | 1 | 2 | 1 | 2 |
| Profit before tax | 4 | 6 | 5 | 7 | 10 | 12 | 19 |
| Tax % | 26 | 24 | 24 | 27 | 26 | 25 | 25 |
| Net Profit | 3 | 4 | 4 | 5 | 7 | 9 | 14 |
| EPS in Rs | 3.76 | 5.42 | 3.21 | 4.64 | 6.72 | 8.35 | 12.7 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 7m | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- |
| Sales | 98 | 139 | 196 | 386 | 546 |
| Expenses | 94 | 128 | 177 | 342 | 485 |
| Operating Profit | 4 | 10 | 19 | 44 | 61 |
| OPM % | 3.9 | 8 | 10 | 11 | 11 |
| Other Income | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 2 | 3 | 5 | 7 |
| Depreciation | 1 | 1 | 2 | 6 | 7 |
| Profit before tax | 2 | 8 | 14 | 34 | 48 |
| Tax % | 25 | 25 | 26 | 26 | — |
| Net Profit | 2 | 6 | 11 | 25 | 36 |
| EPS in Rs | 7.7 | 29.7 | 13.39 | 22.92 | 32.41 |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 8 | 11 |
| Reserves | 2 | 7 | 12 | 70 |
| Borrowings | 19 | 17 | 37 | 108 |
| Other Liabilities | 7 | 15 | 19 | 47 |
| Total Liabilities | 29 | 42 | 76 | 236 |
| Fixed Assets | 2 | 3 | 6 | 27 |
| CWIP | 0 | 0 | 1 | 7 |
| Investments | 0 | 0 | 0 | 0 |
| Other Assets | 27 | 39 | 69 | 201 |
| Total Assets | 29 | 42 | 76 | 236 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Cash from Operating Activity | -14 | 4 | -9 | -53 |
| Cash from Investing Activity | -3 | -2 | -8 | -33 |
| Cash from Financing Activity | 19 | -3 | 17 | 102 |
| Net Cash Flow | 2 | -1 | -1 | 15 |
| Free Cash Flow | -17 | 2 | -14 | -80 |
| CFO/OP | -356 | 62 | -33 | -107 |

### Ratios

| Item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Debtor Days | 74 | 70 | 84 | 134 |
| Cash Conversion Cycle | 74 | 70 | 84 | 134 |
| Working Capital Days | 19 | 27 | 42 | 49 |
| ROCE % | — | 39 | 41 | 31 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2024 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 69.55% | 69.55% | 69.55% | 69.55% | 69.55% |
| FIIs | 0% | 3.51% | 1.74% | 0.23% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 6.88% | 7.17% | 5.18% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 15.76% | 17.51% | 17.78% | 16.77% | 18.83% |
| Others | 0% | 11.18% | 11.21% | 5.56% | 6.51% | 6.45% |
| No. of Shareholders | 7 | 1256 | 570 | 559 | 531 | 542 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 7 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 474.08 | Sell |
| EMA (10) | 463.1 | Sell |
| SMA (20) | 455.24 | Buy |
| EMA (20) | 456.2 | Buy |
| SMA (50) | 426.34 | Buy |
| EMA (50) | 421.52 | Buy |
| SMA (100) | 356.06 | Buy |
| EMA (100) | 364.69 | Buy |
| SMA (200) | 253.07 | Buy |
| EMA (200) | 295.89 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 52.76 | Neutral |
| MACD (12,26,9) | 12.45 | Sell |
| Stochastic (14,3,3) | 33.35 | Neutral |
| ADX (14) | 24.77 | Neutral |
| Williams %R (14) | -54.83 | Neutral |
| ATR (14) | 23.08 | High Volatility |
| ROC (12) | 0.33 | Buy |
| Stoch RSI (14) | 24.58 | Neutral |
| UO (7,14,28) | 51.83 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 June 2026 - Blue Water Logistics will attend Phillip Capital PCG Investor Conference on 23 June 2026 in Mumbai. | [Analysts/Institutional Investor Meet/Con. Call Updates 9 June 2026 - Blue Water Logistics will attend Phillip Capital PCG Investor Conference on 23 June 2026 in Mumbai.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_09062026151726_Letter.pdf) |
| 9 June 2026 - Blue Water Logistics to hold virtual analyst and investor meeting on 15 June 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 9 June 2026 - Blue Water Logistics to hold virtual analyst and investor meeting on 15 June 2026.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_09062026151548_Letter.pdf) |
| 9 April 2026 - Submitted Regulation 74(5) depository certificate for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - Submitted Regulation 74(5) depository certificate for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_09042026180431_Letter.pdf) |
| 9 April 2026 - Company states corporate governance report is not applicable for quarter ended March 31, 2026. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 9 April 2026 - Company states corporate governance report is not applicable for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_09042026180934_Letter.pdf) |
| 7 July 2026 - Blue Water Logistics scheduled 4th AGM on July 31, 2026; shareholders to adopt FY26 results and reappoint two directors. | [Shareholders meeting 7 July 2026 - Blue Water Logistics scheduled 4th AGM on July 31, 2026; shareholders to adopt FY26 results and reappoint two directors.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_07072026163017_Letter_Notice.pdf) |
| 7 July 2026 - Blue Water Logistics says corporate governance report is not applicable for quarter ended June 30, 2026. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 7 July 2026 - Blue Water Logistics says corporate governance report is not applicable for quarter ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_07072026150511_Letter.pdf) |
| 7 Aug - Board approved Vietnam and Tanzania subsidiaries and exclusive agency agreement with PT Blue Water Logistics Indonesia on August 7, 2026. | [Outcome of Board Meeting 7 Aug - Board approved Vietnam and Tanzania subsidiaries and exclusive agency agreement with PT Blue Water Logistics Indonesia on August 7, 2026.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_07082026162155_Letter.pdf) |
| 7 Aug - Acquired 47% stake in Blue Water Logistics Company Limited, Thailand; clarified it is an associate, not branch office. | [General Updates 7 Aug - Acquired 47% stake in Blue Water Logistics Company Limited, Thailand; clarified it is an associate, not branch office.](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_07082026161409_Letter_Thailand.pdf) |
| 6 Feb - Won six-year contract to supply AC bi-directional wall chargers; peak annual value ₹4,391 million (~USD 48m). | [Intimation Reg 30 6 Feb - Won six-year contract to supply AC bi-directional wall chargers; peak annual value ₹4,391 million (~USD 48m).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b0442329-9124-4e99-9eaa-37de05af4f0a.pdf) |
| 4 May 2026 - Lalit Panda has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. | [Disclosure under SEBI Takeover Regulations 4 May 2026 - Lalit Panda has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.](https://nsearchives.nseindia.com/corporate/team_sandeshc_30042026124101_33.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29621_BLUEWATER_2025_2026_A_12268069_07072026164639.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8ad9e54a-a2a1-4a6c-9529-9ba41120736a.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4359e3a6-6f84-4ab2-99f7-f01d906baf62.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5efc067a-92fd-4811-84df-8f4231795959.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/541578/76936541578.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/541578/69287541578.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/541578/5415780320.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/541578/5415780319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/541578/5415780318.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2023 | [Concall - Sep 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f5f45c36-a916-434e-a71b-0dce72c700e1.pdf) |
| Oct 2022 | [Concall - Oct 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/549aaa05-b1d1-41fa-bdde-9a8367e57842.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/BLUEWATER2024_20112025160029_NSE.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/caf49ee0-c01b-4f71-ab48-1026b7939f2a.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/16d82e86-6eed-4ab9-bd1e-52c61d608490.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/15e4f461-007f-42a9-aa44-1f99289b7665.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fcb39b66-a7b4-41d1-a0e8-6ad6c8c33aa6.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/21fd0bb0-4cb4-416a-b343-2b2890efe900.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e110fcf8-e096-4511-8dad-79b6fbad89c0.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/50c21e83-b9e5-459f-ba5d-445095df71d9.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:54:28.843Z.