Western carriers (India) Ltd has announced the completion of Mr. Bipradas Bhattacharjee's tenure as Independent Director, marking the end of his five-year term with the company. The announcement was made to stock exchanges in compliance with regulatory requirements under SEBI listing obligations.

Director Tenure Details

Mr. Bipradas Bhattacharjee (DIN: 07450712) completed his term as Independent Director on February 25, 2026, after serving for five years. He was re-appointed by company members for this tenure period, which commenced on February 26, 2021.

Regulatory Compliance

The company filed the intimation pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made in accordance with multiple SEBI circulars, including SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Communication

The formal communication was signed by Sapna Kochar, Company Secretary & Compliance Officer (ICSI Mem. No.: A56298), and submitted to both BSE Limited and National Stock Exchange of India Limited on February 26, 2026. The company is headquartered at 206, Central Plaza, 2/6, Sarat Bose Road, Kolkata-700 020.

Corporate Governance Impact

Following the completion of his tenure, Mr. Bhattacharjee ceased to be a Director of the company with effect from February 26, 2026. The transition represents a natural conclusion of his independent directorship term as per the company's governance framework and regulatory compliance requirements.

Western carriers (India) Limited demonstrated strong operational momentum in Q3FY26, with CEO Kanishka Sethia highlighting significant container volume growth and improved financial metrics during the company's earnings conference call held on February 16, 2026.

Operational Performance Shows Strong Growth

The company achieved impressive container volume growth across both business segments during Q3FY26:

The EXIM business showed sustained recovery with over 14% growth, supported by improving geopolitical conditions and strong order books. The domestic segment maintained robust momentum with nearly 15% growth, driven by demand for both general and specialized containers.

Financial Performance Reflects Operational Strength

Western Carriers delivered resilient financial results for Q3FY26, showing sequential improvement across key metrics:

The sequential improvement in margins demonstrates the company's operational efficiency and the benefits of its asset-light multimodal model.

Strategic Infrastructure Investments and Developments

The company completed significant capital expenditure of over INR30 crores during the year, focusing on:

• Specialized containers: Fleet of over 1,000 TEUs to meet client requirements
• Heavy equipment: Including reach stackers and handling equipment
• Commercial vehicles: Supporting expanded service offerings

The Devaliya MMCT near Morbi, spread over 32 acres, continues to expand operations with fixed services connecting North (CMLK), South (Bangalore), and East (Calcutta and Guwahati). This facility serves diverse industries including tiles, chemicals, and agricultural products.

Market Tailwinds from Trade Agreements

Management highlighted significant opportunities from recent trade developments:

India-EU Free Trade Agreement

• Eliminates duties on 97% of EU goods exports to India and 99% of Indian goods to EU
• Expected to double EU exports to India by 2032
• Benefits key Indian sectors: textiles, chemicals, engineering goods, pharmaceuticals, leather, gems and jewelry

India-US Interim Trade Deal

• Reduces US tariffs on Indian goods to 18% from 50%
• India committed to purchasing over USD500 billion in US products over five years
• Strengthens EXIM cargo movement in both directions

Infrastructure and Policy Support

Several infrastructure developments are expected to boost the company's operations:

• Western Dedicated Freight Corridor: Expected completion to JNPT by March 2026
• East-West Dedicated Freight Corridor: New 2,000+ kilometer corridor from Dankuni to Surat
• Union Budget 2026-27: INR12.2 lakh crores public capex with INR5.98 lakh crores for transport and logistics

The company benefits from AEO (Authorized Economic Operator) certification, providing preferential treatment in cargo clearance and extended duty deferral payments from 15 to 30 days.

Future Outlook and Strategic Focus

Western Carriers is well-positioned to capitalize on the growing 4PL market, estimated at USD75-82 billion globally with 7-8% CAGR projected over the next decade. The Indian logistics sector is expected to reach USD380-450 billion by FY27, growing at 8-10% CAGR.

Management emphasized the company's focus on consistent execution, technology-driven operational efficiencies, and enhanced capabilities to deliver customer satisfaction while generating sustainable long-term value for stakeholders.