Waterways Leisure Tourism Releases Q2 FY27 Earnings Transcript with Cordelia Sky Delivery
Waterways Leisure Tourism released its Q2 FY27 earnings transcript. The company's new vessel, Cordelia Sky, was delivered early and will increase capacity by 126%. Q2 FY27 revenue grew 31% YoY to ₹1,329 million, with PAT at ₹585 million. Half-year revenue reached ₹3,230 million. The company is exploring further fleet expansion and launched a loyalty program.
The early delivery of a new vessel significantly increases capacity, and the strong financial results and positive outlook on market growth suggest a substantial impact on the company's future performance.
The company reported strong year-on-year revenue growth, early delivery of a new vessel, and positive future outlook, indicating a positive financial and operational performance.
Waterways Leisure Tourism Limited (formerly Waterways Leisure Tourism Private Limited) has released the transcript of their conference call held on October 9, 2026, to discuss the company's financial and operational performance for the second quarter and half-year ended September 30, 2026. The transcript is also available on the company's investor relations website.
Key highlights from the call include the early delivery of their new vessel, Cordelia Sky, on October 15, 2026, ahead of its scheduled September 30, 2026 delivery. The Cordelia Sky, with a capacity of 2,400 guests, will increase the company's overall capacity by approximately 126% and is set to commence sailing from October 23, 2026. Revenue from Cordelia Sky is expected to contribute from the second half of the financial year.
Financially, for Q2 FY27, the company reported revenue from operations of ₹1,329 million, a 31% year-on-year growth. EBITDA stood at ₹777 million with a 58.45% margin, and profit after tax was ₹585 million with a 44.02% PAT margin. For the half-year ended FY27, revenue was ₹3,230 million (growth of 16%), EBITDA was ₹1,242 million (38.45% margin), and PAT was ₹813 million (25.16% margin).
The company also received USD 5.2 million in compensation from Norwegian Sky Limited for the early handover of the vessel Sky. Operational load factor improved to 75.53% in Q2 FY27, and for the half-year, it increased to 91.23%. Average ticket price for Q2 FY27 was ₹10,300, and average revenue per passenger was ₹13,645.
Despite an increase in fuel cost per available passenger cruise day (APCD) to ₹2,471 in Q2 FY27, the company maintained a healthy debt-to-equity ratio of 0.57%. They are also exploring further fleet expansion opportunities beyond the SUN vessel, which is scheduled for delivery in 11 months. The company is implementing a loyalty program called the Chairman's Club to deepen customer engagement.
Management expressed optimism about the long-term potential of cruising in India, citing industry growth projections and the increasing demand for experience-led holidays. They are focused on disciplined capacity expansion, strong customer engagement, revenue optimization, and cost management.
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Waterways Leisure Tourism Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Waterways Leisure Tourism Limited. Read the original for the full detail.