Waterways Leisure Tourism Limited (CORDELIA)
₹97.66 +1.08% last close, 16 Oct
Q2 FY27 results
Waterways Leisure Tourism Limited reported Q2 FY27 results on 9 Oct 2026: revenue ₹133 Cr (+30.3% year on year, -30.1% on the previous quarter), and net profit ₹58.5 Cr (against a loss a year earlier); the operating margin was 7.5%.
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹133 | +30.3% | -30.1% |
| Operating profit | ₹9.9 | from loss | -77.9% |
| Net profit | ₹58.5 | from loss | +156.9% |
| EPS (₹) | 0.85 | from loss | +143.6% |
| Operating margin | 7.5% | — | — |
EPS restated for the ₹10 to ₹1 split of Aug 2026: Q1 FY27 ₹3.49 to ₹0.35.
- Turnaround: profit against a loss a year ago
- Operating margin expanded 1335 bps YoY
- All of pre-tax profit came from other income or one-off items
- Exceptional items of ₹49.5 Cr in the quarter
Quality of profit: none of the pre-tax profit of ₹59.1 Cr came from the core business; all of it came from other income and one-off items.
Share price since the results: -3.3% (close before the filing to the latest close).
CORDELIA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 42.38% of the CORDELIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 51.19%. That is close to its usual level. Volume was 0.3 times its average, well below normal. It closed at a price band (circuit) on 5 sessions in about the last 20.
Delivery in the last 5 sessions: 31.5% · 45.2% · 36.6% · 51.2% · 42.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Waterways Leisure Tourism Limited (Cordelia Cruises) released its Q2 FY27 earnings call transcript highlighting the early delivery of its new cruise vessel, Cordelia Sky. The ship arrived in Mumbai on October 9, 2026, and is scheduled to begin commercial sailings on October 23, 2026. Cordelia Sky features 1,002 staterooms with a capacity of 2,400 guests, representing an approximate 126% increase in overall passenger capacity. Management indicated that commercial revenue from Sky will start flowing in H2 FY27, with its next planned vessel 'SUN' remaining on schedule for delivery in roughly 11 months.
- Delivered 'Cordelia Sky' with 2,400 guest capacity across 1,002 staterooms, expanding total capacity by ~126%
- Commercial operations for Cordelia Sky commence on October 23, 2026, contributing revenue from H2 FY27
- Next vessel 'SUN' scheduled for arrival in approximately 11 months, with further fleet expansions being explored
- Current operating baseline stands at 796 rooms, regularly achieving 115%-116% passenger load factors
Waterways Leisure Tourism Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent MUFG Intime India confirms that securities received for dematerialisation during the quarter were duly processed and confirmed to depositories. This is a purely statutory and administrative disclosure with no financial or operational impact.
- Compliance certificate submitted for the quarter ended September 30, 2026
- Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Certificate provided by RTA MUFG Intime India Private Limited dated October 03, 2026
Waterways Leisure Tourism Limited reported a sharp turnaround in Q2 FY27, with consolidated revenue rising 31% YoY to ₹132.90 Cr (₹1,329.00 Mn) and net profit swinging to ₹58.50 Cr (₹584.96 Mn) from a loss of ₹8.93 Cr in Q2 FY26. For H1 FY27, revenue reached ₹323.01 Cr while PAT surged 215% YoY to ₹81.27 Cr with an average load factor of 91.23%. The company also took early delivery of 'Cordelia Sky', expanding its operating fleet capacity by approximately 126%, with commercial sailings starting on October 23, 2026.
- Q2 FY27 revenue rose 31% YoY to ₹1,329.00 Mn with a load factor of 75.53%
- Q2 FY27 PAT reversed sharply to ₹584.96 Mn compared to a net loss of ₹89.34 Mn in Q2 FY26
- H1 FY27 PAT surged 215% YoY to ₹812.69 Mn on revenue of ₹3,230.12 Mn
- Fleet capacity expanded by ~126% following early delivery of Cordelia Sky, scheduled for operations on October 23, 2026
- Total debt stood at ₹4,125.28 Mn against a net worth of ₹7,315.07 Mn as of September 30, 2026
Waterways Leisure Tourism Limited released its investor presentation for Q2 and H1 FY27, reporting strong turnaround performance. For Q2 FY27, revenue from operations grew 31% YoY to ₹1,329 million (₹132.9 crore), while EBITDA jumped sharply to ₹776.82 million with a margin of 58.45%. PAT turned positive to ₹584.96 million compared to a loss of ₹89.34 million in Q2 FY26, boosted by ₹494.89 million in exceptional items. For H1 FY27, revenue reached ₹3,230 million (₹323 crore) with a PAT of ₹812.69 million.
- Q2 FY27 revenue from operations grew 31% YoY to ₹1,329 million.
- Q2 FY27 EBITDA reached ₹776.82 million with an EBITDA margin of 58.45%.
- Q2 FY27 PAT swung to ₹584.96 million from a loss of ₹89.34 million in Q2 FY26, including an exceptional gain of ₹494.89 million.
- H1 FY27 revenue stood at ₹3,230 million (+16% YoY) with PAT at ₹813 million (+215% YoY).
- Fuel cost per APCD rose 69% YoY to ₹2,481 in H1 FY27 from ₹1,472 in H1 FY26.
Waterways Leisure Tourism Limited reported consolidated Q2 FY27 revenue from operations of Rs 185.00 crore (Rs 1,850.00 million) compared to Rs 190.11 crore in Q1. Profit after tax surged to Rs 58.50 crore (Rs 584.96 million) from Rs 22.77 crore in Q1, aided by an exceptional item of Rs 49.49 crore. The company granted an unsecured loan of Rs 423.74 crore (repayable after 5 years) to an overseas subsidiary to acquire a new vessel, alongside advancing USD 24.83 million in lease rentals for upcoming vessels 'SKY' and 'SUN'. Basic EPS for the quarter was reported at Re 0.81 (post a 1:10 stock split).
- Q2 consolidated revenue from operations stood at Rs 185.00 crore (Rs 1,850.00 million)
- Net profit after tax rose to Rs 58.50 crore (Rs 584.96 million), supported by an exceptional gain of Rs 49.49 crore
- Extended unsecured loan of Rs 423.74 crore to overseas subsidiary for vessel acquisition
- Advanced USD 24.83 million for upcoming vessels 'SKY' and 'SUN'
- Share capital adjusted following 1:10 stock split approved via postal ballot on August 12, 2026
Waterways Leisure Tourism Limited announced details regarding the launch of its newest fleet addition, 'Cordelia Sky', which will commence sailing from Mumbai on October 23, 2026. The ship measures 258 metres in length, weighs 77,104 gross tonnes, and can accommodate 2,004 guests across 1,002 staterooms. Planned itineraries cover domestic routes including Mumbai, Goa, and Lakshadweep, as well as 7-night international Southeast Asia sailings connecting Chennai to Phuket, Langkawi, Kuala Lumpur, and Singapore. The addition substantially scales the company's guest capacity beyond its single-quarter base revenue of ₹190.11 crore reported in June 2026.
- Ship capacity of 2,004 guests at double occupancy across 1,002 staterooms
- Ship specifications include 77,104 gross tonnes and 258 metres in length
- Onboard amenities feature 10 dining venues, 11 bars and lounges, and a 930-seat Marquee Theatre
- Inaugural sailing scheduled to begin from Mumbai on October 23, 2026
Waterways Leisure Tourism Limited responded on August 25, 2026, to stock exchange queries concerning significant movement in its share price. The company clarified that there is no undisclosed material information, event, or development that could influence its securities' price. It noted that the price movement is purely market-driven and governed by market conditions. The company reiterated its ongoing commitment to compliance under Regulation 30 of SEBI LODR Regulations.
- Clarification issued on August 25, 2026, following exchange inquiries on price movement
- Company confirmed zero undisclosed price-sensitive or material information exists
- Stated that securities' price movement is purely attributable to market conditions
- Affirmed full compliance with Regulation 30 of SEBI LODR Regulations
Waterways Leisure Tourism Limited announced that its equity shares have commenced trading on an ex-split basis from August 25, 2026, ahead of the August 26, 2026 record date. Under the 1:10 sub-division, each ₹10 face value share is split into 10 shares of ₹1 face value each. The total share count increases from 7,23,94,543 to 72,39,45,430 shares, while total paid-up share capital remains unchanged at ₹723.95 million. The corporate action is intended to improve market liquidity and accessibility for retail investors.
- 1:10 stock split executed, sub-dividing each ₹10 face value share into 10 shares of ₹1 each
- Total number of equity shares expanded from 7,23,94,543 to 72,39,45,430 shares
- Paid-up equity share capital remains constant at ₹723.95 million
- Ex-split date set to August 25, 2026, with the Record Date scheduled for August 26, 2026
Waterways Leisure Tourism (Cordelia Cruises) has received shareholder approval for a 1:10 share split, reducing the face value from ₹10 to ₹1 per share. The record date is fixed for August 26, 2026, to determine eligibility for the additional shares. While the total paid-up capital remains unchanged at ₹723.95 million, the total share count will increase from 7.23 crore to 72.39 crore. The company also reiterated its expansion plans, with two new vessels, 'Sky' and 'Sun', scheduled for delivery in October 2026 and November 2027 respectively.
- Shareholders approved 1:10 sub-division of equity shares via postal ballot
- Record date for the split is fixed as August 26, 2026
- Total number of equity shares will increase from 7,23,94,543 to 72,39,45,430
- Fleet expansion confirmed with 'Sky' arriving in October 2026 and 'Sun' in November 2027
- Cumulative guest count reported at over 7.8 lakh since the start of operations
Waterways Leisure Tourism Limited (Cordelia) has finalized August 26, 2026, as the record date for its 1-for-10 stock split. Each existing equity share with a face value of ₹10 will be subdivided into 10 equity shares with a face value of ₹1 each. This follows shareholder approval obtained via a postal ballot on August 12, 2026. The corporate action is intended to enhance liquidity and make the stock more accessible to retail investors.
- Record date for the stock split is fixed for August 26, 2026
- Sub-division ratio of 1:10, splitting ₹10 face value shares into ₹1 face value shares
- Shareholder approval was secured via Postal Ballot on August 12, 2026
- Current market price stands at ₹825.5 prior to the split adjustment
Shareholders of Waterways Leisure Tourism Limited (Cordelia Cruises) have approved the proposal for a sub-division (stock split) of equity shares through a postal ballot. The resolution received overwhelming support with 99.99% of the valid votes cast in favor. This corporate action will involve a consequent alteration of the Capital Clause in the company's Memorandum of Association. The e-voting process concluded on August 12, 2026, with high participation from the promoter group.
- 99.99% of total valid votes (69,836,595 votes) were cast in favor of the stock split
- Only 102 votes were cast against the resolution, representing approximately 0.0001% of the total
- Promoter and Promoter Group cast 64,681,980 votes, representing 100% of their participating interest
- Public Non-Institutions cast 408,082 votes, with 99.975% in favor
- The resolution was passed as an Ordinary Resolution on August 12, 2026
Cordelia (Waterways Leisure) reported a consolidated net profit of ₹22.77 Crores for Q1 FY2027, maintaining a 12% net profit margin despite a ₹14 Crore headwind from rising fuel costs. The company achieved a high load factor of 105% and a 4.3% increase in average ticket prices compared to the previous year. Management confirmed the delivery of a second ship, 'Cordelia Sky', in September 2026, which will expand capacity to 1,000 cabins and significantly increase premium inventory. A third ship, 'Cordelia Sun', is also planned to follow, transitioning the company into a multi-ship fleet operator.
- Reported a net profit of ₹22.77 Crores for the quarter ended June 2026 with a 12% margin.
- Achieved a load factor of 105% and served over 55,700 guests during the quarter.
- Fuel costs increased by approximately ₹14 Crores due to geopolitical headwinds in the Middle East.
- Upcoming ship 'Cordelia Sky' (September 2026) will have 1,000 cabins, including 269 balcony/suite cabins compared to 69 in the current vessel.
- Staterooms booked grew by 10% year-on-year to 24,245 units.
Waterways Leisure Tourism Limited (Cordelia) has released the audio recording of its analyst and institutional investor meet held on July 23, 2026. The discussion focused on the company's unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. This is a standard procedural disclosure under SEBI (LODR) Regulations to ensure transparency for retail shareholders. Investors can access the full recording via the company's official investor relations portal.
- Audio recording of the analyst meet held on July 23, 2026, is now publicly available
- Discussion covered Unaudited Financial Results for the quarter ended June 30, 2026
- Disclosure submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The meeting involved both Consolidated and Standalone financial performance reviews
Cordelia Cruises reported a 7.8% YoY increase in revenue from operations to ₹1,901.12 million for Q1 FY27, supported by a strong load factor of 105%. However, consolidated PAT fell 34.5% YoY to ₹227.73 million, primarily due to a massive 65.2% surge in fuel costs per capacity unit. EBITDA margins contracted significantly from 32% in Q1 FY26 to 24.5% in the current quarter. While demand remains robust with average ticket prices rising 4.3% to ₹11,581, external cost pressures have severely impacted the bottom line.
- Load factor reached 105%, indicating high demand and utilization of triple/quad occupancy cabins.
- Fuel costs per Available Passenger Cruise Day (APCD) surged 65.2% YoY to ₹2,489 due to geopolitical tensions.
- Consolidated PAT declined to ₹227.73 million from ₹347.68 million in the previous year's quarter.
- Average ticket price improved by 4.3% YoY to ₹11,581, helping offset some operational costs.
- Crew-related expenses per APCD increased by 17% to ₹1,040 following international maritime standard revisions.
Waterways Leisure Tourism (Cordelia Cruises) reported its first quarterly results post-listing, with consolidated revenue of ₹190.11 cr and PAT of ₹21.71 cr for Q1 FY27. The company demonstrated sequential growth, with standalone Profit Before Tax rising 29.5% from ₹29.06 cr in the preceding quarter to ₹37.64 cr. A significant capital commitment was highlighted with an additional USD 8 million advanced for the upcoming vessel 'SUN', expected to join the fleet after March 2027. Additionally, the board has proposed a 1:10 stock split to enhance retail participation.
- Consolidated Revenue from operations stood at ₹1,901.12 million for the quarter ended June 30, 2026.
- Consolidated Profit After Tax (PAT) reached ₹217.13 million, up from ₹152.14 million in the preceding quarter.
- Advanced USD 8 million for the new cruise vessel 'SUN', with delivery expected after March 31, 2027.
- Standalone Profit Before Tax (PBT) grew to ₹376.36 million, a 29.5% increase over the March 2026 quarter.
- Operating expenses for the quarter were managed at ₹1,028.27 million against total income of ₹1,924.09 million.
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