Key takeaway: The investor presentation for Waterways Leisure Tourism Limited (CORDELIA) for Q2 and H1 FY27 (ended September 30, 2026) highlights strong financial performance, with revenue from operations rising 31% YoY to ₹1,329 million in Q2 and 16% YoY to ₹3,230 million for the half-year. EBITDA surged 3,337% YoY to ₹777 million in Q2 and 131% YoY to ₹1,242 million for the half-year, while PAT increased 755% YoY to ₹585 million in Q2 and 215% YoY to ₹813 million for the half-year. The company emphasized its position as India’s only domestic ocean cruise operator, with extensive domestic and international itineraries, premium amenities, and a growing fleet. The presentation noted a 126% increase in staterooms with the addition of the Sky vessel. Financial metrics showed a load factor of 91.2%, revenue per PCD of ₹12,931, and average ticket price of ₹11,082. The balance sheet reported total assets of ₹13,484 million as of September 30, 2026, with equity at ₹7,273 million. The company also outlined strategic growth areas, including expanding cruise routes and leveraging India’s nascent cruise market. The presentation included forward-looking statements, which are subject to risks and uncertainties, and noted that certain non-IndAS measures like EBITDA and Net Yield are adjusted for comparison purposes. The shareholding pattern showed promoters holding 89.35% of shares, with institutional investors holding the remaining 10.65%.

Key takeaway: During the earnings call for Q1 FY 2027, management reported that the geopolitical situation in the Middle East created significant headwinds for the global cruise sector, leading to high fuel costs. Despite these challenges, the company achieved a load factor of 105% and a net profit of Rs. 22.77 Crores, with a net profit margin of approximately 12%. The company served over 55,700 guests, reflecting a 10% growth compared to the previous year. Management highlighted strong demand for cruising in India and outlined plans to expand their presence in new destinations, including the introduction of a loyalty program and a new sales center in Cochin. They also discussed the impact of rising fuel costs on EBITDA margins and the strategy to pass these costs onto customers through fuel surcharges. The call concluded with management expressing optimism about future growth and the upcoming delivery of new ships.

Key takeaway: Waterways Leisure Tourism Limited, in its investor presentation dated July 23, 2026, reported its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026. The company highlighted a load factor of 105%, which increased by 5% compared to Q1 FY26, and an average ticket price of ₹11,581, reflecting a 4.3% rise year-over-year. Gross ticket revenue reached ₹2,082.6 million, marking a 10% increase from the previous year. EBITDA was reported at ₹465.3 million, with a margin of 24.5%. The presentation noted a significant impact from fuel costs, which rose by 65% compared to Q1 FY26, amounting to ₹142.3 million. The company emphasized strong demand across sailings, with core ticket revenue being the primary growth driver.