Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹39Cr
Rev Gr TTM
Revenue Growth TTM
-26.57%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

EASTWEST
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -13.7 | -25.3 | -27.1 | -33.9 | 27.4 | 69.0 | 57.1 | 55.8 | -13.4 | -39.0 | -19.1 | -30.4 |
| 51 | 52 | 40 | 39 | 65 | 89 | 66 | 63 | 58 | 54 | 55 | 47 |
Operating Profit Operating ProfitCr |
| 4.2 | 5.3 | 6.8 | 7.2 | 5.2 | 4.5 | 3.8 | 4.1 | 2.4 | 4.7 | -0.5 | -2.3 |
Other Income Other IncomeCr | 1 | 0 | 0 | 0 | 8 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 2 | 2 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 3 | 2 | 2 |
Depreciation DepreciationCr | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 8 | 1 | 0 | 0 | 1 | 0 | -2 | -3 |
| 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
|
Growth YoY PAT Growth YoY% | -89.4 | -79.0 | 164.3 | 125.4 | 6,190.0 | 1,650.0 | 0.0 | 0.0 | -93.3 | -135.7 | -1,933.3 | -861.3 |
| 0.2 | 0.1 | 0.2 | 0.7 | 9.2 | 0.8 | 0.1 | 0.5 | 0.7 | -0.4 | -3.0 | -5.2 |
| 0.0 | 0.0 | 0.0 | 0.0 | 0.5 | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | -0.1 | -0.2 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 6,252.9 | 10.6 | -16.9 | -17.9 | 42.4 | 8.8 | -16.6 | 36.9 | -24.2 |
| 3 | 204 | 223 | 188 | 153 | 218 | 242 | 196 | 274 | 213 |
Operating Profit Operating ProfitCr |
| -2.0 | 4.5 | 5.8 | 4.5 | 5.3 | 5.0 | 3.1 | 6.0 | 3.8 | 1.3 |
Other Income Other IncomeCr | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 9 | 1 | 1 |
Interest Expense Interest ExpenseCr | 0 | 5 | 6 | 6 | 7 | 7 | 8 | 11 | 8 | 8 |
Depreciation DepreciationCr | 0 | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 |
| 0 | 4 | 8 | 2 | 1 | 4 | -1 | 9 | 2 | -5 |
| 0 | 0 | 2 | 1 | 1 | 1 | 0 | 2 | 1 | -1 |
|
| | 2,720.0 | 39.5 | -74.4 | -109.3 | 2,334.2 | -137.9 | 727.2 | -77.4 | -352.9 |
| 4.0 | 1.8 | 2.3 | 0.7 | -0.1 | 1.2 | -0.4 | 3.2 | 0.5 | -1.8 |
| 0.1 | 1.6 | 0.5 | 0.1 | 0.0 | 0.2 | -0.1 | 0.5 | 0.1 | -0.3 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 4 | 18 | 18 | 18 | 18 | 24 | 25 | 26 | 26 | 26 |
| 1 | 44 | 49 | 45 | 44 | 47 | 36 | 40 | 42 | 40 |
Current Liabilities Current LiabilitiesCr | 1 | 50 | 52 | 38 | 41 | 35 | 43 | 39 | 54 | 53 |
Non Current Liabilities Non Current LiabilitiesCr | 0 | 29 | 25 | 39 | 45 | 44 | 56 | 34 | 30 | 32 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 5 | 81 | 83 | 79 | 88 | 94 | 97 | 97 | 109 | 109 |
Non Current Assets Non Current AssetsCr | 0 | 59 | 62 | 60 | 59 | 58 | 67 | 43 | 44 | 43 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 3 | -5 | -2 | -1 | 4 | -2 | 4 | 13 | -4 |
Investing Cash Flow Investing Cash FlowCr | 0 | -9 | -5 | -3 | -2 | -7 | -21 | 21 | 0 |
Financing Cash Flow Financing Cash FlowCr | -3 | 23 | -1 | 2 | -2 | 13 | 14 | -35 | 4 |
|
Free Cash Flow Free Cash FlowCr | 3 | -5 | -3 | -3 | 3 | -3 | -22 | 39 | -8 |
| 2,213.7 | -120.1 | -37.0 | -104.8 | -3,061.8 | -86.5 | -414.1 | 197.3 | -277.8 |
CFO To EBITDA CFO To EBITDA% | -4,463.8 | -47.6 | -14.5 | -16.1 | 45.1 | -21.5 | 56.4 | 106.7 | -38.9 |
| Financial Year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 11 | 145 | 260 | 89 | 143 | 104 | 53 | 65 | 67 |
Price To Earnings Price To Earnings | 82.1 | 38.0 | 48.5 | 65.1 | 0.0 | 36.1 | 0.0 | 10.1 | 52.3 |
Price To Sales Price To Sales | 3.1 | 0.7 | 1.1 | 0.5 | 0.9 | 0.5 | 0.2 | 0.3 | 0.2 |
Price To Book Price To Book | 2.6 | 2.4 | 3.9 | 1.4 | 0.4 | 1.5 | 0.9 | 1.0 | 1.0 |
| -160.7 | 18.2 | 22.1 | 16.0 | 23.6 | 14.1 | 16.6 | 9.3 | 12.0 |
Profitability Ratios Profitability Ratios |
| 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
| -2.0 | 4.5 | 5.8 | 4.5 | 5.3 | 5.0 | 3.1 | 6.0 | 3.8 |
| 4.0 | 1.8 | 2.3 | 0.7 | -0.1 | 1.2 | -0.4 | 3.2 | 0.5 |
| 4.5 | 8.8 | 11.3 | 7.1 | 6.0 | 7.7 | 4.8 | 15.7 | 7.6 |
| 3.1 | 6.2 | 8.0 | 2.2 | -0.2 | 4.0 | -1.8 | 10.2 | 2.3 |
| 2.8 | 2.7 | 3.7 | 1.0 | -0.1 | 1.9 | -0.7 | 4.8 | 1.0 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
East West Freight Carriers Limited (EWFCL), established in 1976, is a leading Indian freight forwarding and logistics company with over **49 years of industry experience** as of 2025. A wholly owned subsidiary of **East West Holdings Limited** (listed on the Bombay Stock Exchange since 1981), EWFCL operates as the core logistics arm of the group, delivering integrated, technology-driven global logistics solutions across air, ocean, and road transportation networks.
EWFCL provides **end-to-end logistics services**, including air freight, full container load (FCL), less than container load (LCL), customs clearance, warehousing, and specialized handling of **project cargo**—particularly large, heavy, high-value, or complex equipment. The company also offers tailored solutions for perishable goods, dangerous goods, and time-sensitive shipments.
---
### **Core Services & Capabilities**
- **Air & Ocean Freight Forwarding**: Export and import services via air and sea, with chartering capabilities.
- **Road Transportation**: Pan-India and cross-border surface logistics.
- **Project Cargo Handling**: Specialized movement of oversized, heavy-lift, and high-value industrial equipment.
- **Value-Added Logistics**: LCL consolidation, bonded warehousing, supply chain management, and customs brokerage.
- **Niche Expertise**: Perishable cargo (e.g., agricultural exports like mangoes), pharmaceuticals (via affiliate investments), and hazardous goods transportation.
---
### **Strategic Partnerships & Global Reach**
EWFCL maintains **strategic alliances** with:
- Major **global airlines** and **international shipping lines**.
- Key logistics partners across **70+ countries**, enabling reliable capacity, competitive pricing, fixed allocations, and optimized transit times across major trade lanes.
Recent international partnerships include:
- **Columbia Transport S.R.L. (Italy)**: A service agreement expected to generate **INR 10–15 million** in revenue.
- **Erhardt Projects and Logistics Middle East (UAE)**: A mutual representation agreement, making EWFCL the principal agent in India and Erhardt the representative in UAE and Saudi Arabia.
- **A. Raymond (Global)**: A service contract to manage logistics for a multinational fasteners manufacturer with 29 production sites across 25 countries; projected to generate **INR 5 crore** in revenue.
These collaborations underscore EWFCL’s growing reputation as a trusted logistics partner internationally.
---
### **Industry Recognition & Compliance**
EWFCL is affiliated with major global and national logistics associations, reinforcing its compliance standards and operational credibility:
- **IATA**, **FIATA**, **FFFAI**, **ACCAI**, **DACCAI**, **BCBA**, **FIEO**
These memberships facilitate access to global best practices, training, and international regulatory frameworks.
---
### **Organizational Strength & Leadership**
- **Mr. Shafi Mohammad**, Founder and Chairman & Executive Director of East West Holdings Ltd, has over **40 years of experience** in logistics. He pioneered early developments in perishable air cargo and led EWFCL’s expansion before becoming a promoter post-acquisition in 2018.
- **Mr. Suresh Menon**, with 40+ years in logistics, built the international division from the ground up after a decade at DAMCO/Maersk. His leadership has been instrumental in scaling EWFCL’s global operations and pan-India branch network.
---
### **Expansion & Growth Strategy**
As of 2025, EWFCL is actively pursuing diversification and scalability through:
- **Entry into new verticals**: Turnkey projects, dangerous/hazardous goods transport, and specialized industrial logistics.
- **Technological Advancements**: Investment in digitalization, automation, and backend integration to improve efficiency and customer experience.
- **Strategic Acquisitions and Investments**:
- **Acquisition of Marinetrans India Pvt. Ltd.** (announced 2020): Adds 15,000 TEUs of container capacity and projected **INR 1,200 million** in incremental revenue.
- **Investment in Unique Airfreight Express & Logistics Pvt. Ltd.**: 37.5% stake acquired in July 2022; positioned to expand EWFCL’s footprint in the high-growth **pharmaceutical and healthcare logistics sector**.
- **Group Reorganization**: Proposed amalgamation of subsidiaries like **Zip Express & Logistics Pvt. Ltd.** into East West Holdings Limited to streamline operations, enhance synergies, and improve financial flexibility.
---
### **Operational Infrastructure**
- **Pan-India Presence**: Strategic branch offices across key logistics hubs in India, supporting time-bound deliveries and localized customer service.
- **24/7 Global Operations Network**: Ensures real-time monitoring, coordination, and timely, cost-effective delivery worldwide.
- **Headquarters**: Based in Mumbai, with international outreach across Asia, the Middle East, USA, Europe, Africa, and Australia.
---
### **Challenges & Risk Mitigation**
Despite robust fundamentals, the company continues to navigate post-pandemic recovery and external disruptions such as:
- Geopolitical tensions (Ukraine war, Red Sea crisis, Israel-Hamas conflict)
- Supply chain volatility and port congestions
In response, EWFCL has:
- Strengthened risk monitoring mechanisms.
- Invested in **automation and digital tools** to improve resilience.
- Diversified trade routes and carrier partnerships to ensure continuity.
While turnover and profitability have not yet fully returned to pre-pandemic levels, ongoing efficiency initiatives are expected to drive improved performance in the near term.
---
### **Parent Company Context**
**East West Holdings Limited**, incorporated in 1981 and publicly listed on BSE, engages in:
- **Logistics** (primarily via EWFCL)
- **Marble trading**
- **Property leasing**
- **Investments** in equities, real estate, and bonds
The company's logistics segment remains central to its growth strategy, with EWFCL serving as the engine of innovation and service excellence.
---
### **Recent Milestones (2024–2025)**
- Secured key international contracts (A. Raymond, Columbia Transport, Erhardt Projects).
- Advanced plans for subsidiary mergers to create a unified, agile organization.
- Expanded technological infrastructure to support scalable, future-ready logistics solutions.
- Strengthened niche capabilities in pharmaceutical, project cargo, and perishable logistics.