Waterways Leisure Tourism Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Waterways Leisure Tourism Ltd filed with BSE on 28 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Waterways Leisure Tourism reported a Q1 FY2027 load factor of 105% with average ticket prices up 4.3% versus Q1 2025, alongside a consolidated net profit of Rs.22.77 Crores and a net profit margin of around 12%, despite elevated fuel costs from Middle East geopolitical tensions. The company served more than 55,700 guests and booked 24,245 staterooms during the quarter, a growth of around 10% over last year. Management discussed the upcoming delivery of Cordelia Sky in September and Cordelia Sun thereafter, new international sailings, and a new loyalty program and sales center launching later in the year.
Numbers mentioned
Load factor: 105% (Q1 FY2027)
p. 3
“we report a load factor of 105% for Q1 with an increase of 4.3% of average ticket price versus Q1 2025”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Net profit: Rs.22.77 Crores (Q1 FY2027)
p. 3
“we report a net profit of Rs.22.77 Crores on a consolidated basis and a net profit margin of around 12% for the quarter ended June 2026”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Net profit margin: around 12% (Q1 FY2027)
p. 3
“we report a net profit of Rs.22.77 Crores on a consolidated basis and a net profit margin of around 12% for the quarter ended June 2026”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Guests served: more than 55,700 (Q1 FY2027)
p. 3
“we served more than 55,700 guests and 24,245 staterooms booked during the quarter reflecting a growth of around 10% over last year Q1”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Staterooms booked: 24,245 (Q1 FY2027)
p. 3
“we served more than 55,700 guests and 24,245 staterooms booked during the quarter reflecting a growth of around 10% over last year Q1”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Fuel cost impact on EBITDA: around Rs.14 Crores (Q1 FY2027)
p. 4
“the major increase is in the fuel, which is around Rs.14 odd Crores, so if it would have not been there your EBITDA would have gone up by Rs.14 odd Crores that is a major impact”
Nishikant Upadhyay, page 4 of the filed PDF · View the filing
Advance bookings for second ship: Rs.65 Crores
p. 6
“Right now, I can share with you Rs.65 Crores in advance booking, which is resulting to approximately Rs.110 Crores to Rs.115 Crores revenue for the shorter sailings”
Jurgen Bailom, page 6 of the filed PDF · View the filing
Finance cost: Rs.4 Crores (Q1 FY2027)
p. 9
“Finance cost has increased nearly double and it is like Rs.4 Crores this quarter what would be reason for it?”
Swapna Shelar, page 9 of the filed PDF · View the filing
Top line run rate: Rs.190 Crores (Q1 FY2027)
p. 9
“For the second question, I would like to know for the run rate of the top line which is in this quarter is like Rs.190 Crores can we expect the same run rate or more than that in the Q2?”
Swapna Shelar, page 9 of the filed PDF · View the filing
Prior year fuel savings: Rs.15 Crores to Rs.16 Crores (prior year)
p. 6
“we had a positive fuel savings, which were closely to Rs.15 Crores to Rs.16 Crores of fuel savings because of our efficiency program on how to operate cruises”
Jurgen Bailom, page 6 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Cordelia Sky delivery and maiden voyage — handover September 25, 2026; arrival in Mumbai October 15, 2026; maiden voyage October 23, 2026 · Q2-Q3 FY2027
stated firmly by Jurgen Bailom
p. 5
“The ship name will change to Cordelia Sky and will be arriving in Mumbai on October 15, 2026 and our first maiden voyage will be October 23, 2026.”
Jurgen Bailom, page 5 of the filed PDF · View the filing
International sailings expansion — four more international sailings from the West Coast plus new East Coast sailings · 2027
stated firmly by Jurgen Bailom
p. 4
“from next year onwards 2027 we are introducing four more international sailings during the monsoon from the West Coast, and we are also introducing Maldives and Columbus sailings on the East Coast, starting this year from October”
Jurgen Bailom, page 4 of the filed PDF · View the filing
Fuel surcharge recovery — end of Q2, beginning of Q3
stated conditionally by Jurgen Bailom
p. 6
“the results of these extra charges will actually show end of Q2, beginning of Q3”
Jurgen Bailom, page 6 of the filed PDF · View the filing
Fuel cost normalization — eliminating the extra fuel cost · by the end of the year
stated as an aspiration by Jurgen Bailom
p. 6
“I am in good mood to be hopefully eliminating by the end of the year the extra fuel cost with additional saving and the fuel price started reducing”
Jurgen Bailom, page 6 of the filed PDF · View the filing
Empress revenue growth — 10% to 11% to 12% · going forward
stated conditionally by Nishikant Upadhyay
p. 9
“going forward, it will be 10% to 11% to 12%”
Nishikant Upadhyay, page 9 of the filed PDF · View the filing
Loyalty program rollout — Chairman's Club · end of Q2
stated firmly by Jurgen Bailom
p. 3
“the rollout of our loyalty program called Chairman’s Club, end of Q2, and further, aggressively building on our direct business by opening a new sales center in Cochin in September”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Operating cost sharing across fleet
stated as an aspiration by Jurgen Bailom
p. 10
“the entire cost is hitting one ship. Now with Sky coming in September, our total operating cost is split between two ships and then further down in three ships”
Jurgen Bailom, page 10 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed the decline primarily to higher fuel costs, with a smaller impact from increased employee and food costs.
Answered by Nishikant Upadhyay
Asked by Divyansh Jaju: Why has EBITDA margin declined over the last two quarters?
p. 4
“the major increase is in the fuel, which is around Rs.14 odd Crores, so if it would have not been there your EBITDA would have gone up by Rs.14 odd Crores that is a major impact”
Nishikant Upadhyay, page 4 of the filed PDF · View the filing
Management said new international sailings covering Sri Lanka, Maldives, Singapore, Indonesia and Thailand will be introduced with the new vessels.
Answered by Jurgen Bailom
Asked by Divyansh Jaju: What is the long-term strategy for international markets?
p. 4
“our international cruises are focused on easy entry for Indians, which is covering mostly Sri Lanka, Maldives, Singapore, Indonesia, and Thailand”
Jurgen Bailom, page 4 of the filed PDF · View the filing
Management gave the timeline for handover, rebranding and maiden voyage of Cordelia Sky.
Answered by Jurgen Bailom
Asked by Aniket Dogra: What is the status of the new ship coming in September?
p. 5
“The ship is currently in the Greek and Mediterranean waters sailing with guests and the ship will start sailing from September 19, 2026 towards our new destinations.”
Jurgen Bailom, page 5 of the filed PDF · View the filing
Management said highlight sailings including maiden voyage and holidays are already booked, citing advance booking figures.
Answered by Jurgen Bailom
Asked by Aniket Dogra: How much booking has been done for the second ship?
p. 6
“Right now, I can share with you Rs.65 Crores in advance booking, which is resulting to approximately Rs.110 Crores to Rs.115 Crores revenue for the shorter sailings”
Jurgen Bailom, page 6 of the filed PDF · View the filing
Management explained fuel surcharges apply to new bookings going forward, not previously sold tickets, with impact showing from Q2/Q3.
Answered by Jurgen Bailom
Asked by Sunil Jain: How will increased fuel costs be passed on to customers?
p. 6
“the recovery process happened from all the new bookings starting, which will impact your second and third quarter”
Jurgen Bailom, page 6 of the filed PDF · View the filing
Management said Q1 is strong, flattens in Q2, and spikes in Q3 and Q4 due to festive and wedding season demand.
Answered by Jurgen Bailom
Asked by Sunil Jain: Is there seasonality variance across quarters due to Q2 being off-season on the West coast?
p. 7
“the Q1 is very strong as you saw on the load factor, then it flattens out and then there is a huge spike in the third and then fourth quarter”
Jurgen Bailom, page 7 of the filed PDF · View the filing
Management said both occupancy and ticket prices increased.
Answered by Jurgen Bailom
Asked by Anurag Yadav: Was revenue growth driven by occupancy or ticket prices?
p. 8
“Our load factor has increased from last year from 99.9% to 105% this year and as I mentioned earlier, our ticket price has increased by 4% as an average price moving forward”
Jurgen Bailom, page 8 of the filed PDF · View the filing
Management said international port charges are actually lower than domestic ones due to fewer port calls per week.
Answered by Jurgen Bailom
Asked by Anurag Yadav: Will port costs rise significantly with international expansion, impacting EBITDA margins?
p. 8
“the port charges outside of India are actually lower than the port charges here in India itself because remember all our charges when you are domestic we are paying GST on while international cruises are a little bit different”
Jurgen Bailom, page 8 of the filed PDF · View the filing
Management said this relates to a loan taken from IDFC First Bank for rating purposes, offset by matching fixed deposits.
Answered by Nishikant Upadhyay
Asked by Swapna Shelar: Why has finance cost nearly doubled to Rs.4 Crores this quarter?
p. 9
“we have taken a loan from IDFC First Bank and that is the only reason though it is backed by FDs but then because I think I have already appraised earlier also that in order to have the ratings in place this was a challenge”
Nishikant Upadhyay, page 9 of the filed PDF · View the filing
Management said fixed costs will be shared across a growing fleet as more ships are added, reducing per-ship cost.
Answered by Jurgen Bailom
Asked by Swapna Shelar: What is the strategy for expanding operating margin beyond fuel costs?
p. 10
“our fixed costs in shore side marketing, our management fees, everything is going to be shared by three ships. So naturally the cost will reduce because of the shared cost between three vessels”
Jurgen Bailom, page 10 of the filed PDF · View the filing
Risks flagged
Geopolitical situation in the Middle East creating headwinds and high fuel costs for the global cruise sector
p. 3
“The first quarter was shaped by the geopolitical situation in the Middle East that created huge headwinds for the entire global cruise sector and the entire transportation industry driven by extremely high fuel costs”
Jurgen Bailom, page 3 of the filed PDF · View the filing
Sharp spike in fuel prices due to war tensions
p. 6
“The highest price when the tension started was $1228 per metric tonne that is why the impact of 65% is secured in the Q3”
Jurgen Bailom, page 6 of the filed PDF · View the filing
Increase in employee/crew remuneration costs
p. 4
“for last five years, there has not been any much increase in the remuneration paid to the people, which are working on the ship, but this year, it has been”
Nishikant Upadhyay, page 4 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.