Added to YB: 2026-08-11
Pitch date: 2026-08-07
CORDELIA.NS [neutral]
Waterways Leisure Tourism Limited
+0.14%
current return
Author Info
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Company Info
Waterways Leisure Tourism Limited operates a domestic ocean cruise vessel in India. The company offers a diverse range of experiences, including food, a children’s academy, a gaming arcade, a spa and salon, retail outlets, a casino, a fitness center, a rock-climbing wall, and swimming pools.
Market Cap
INR 60.9B
Pitch Price
INR 840.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
66.13
P/E
136.49
EV/Sales
10.44
Sector
Hotels, Restaurants and Leisure
Category
growth
Cordelia Cruises and the Essel Linkage - Waterways Leisure Tourism Ltd.
CORDELIA.NS (pass): India's only ocean cruise line, 79% mkt share, 105% load factor, ₹23cr Q1 profit despite 65% fuel cost spike. Capacity 3.5x by 2027 via NCL charters; onboard rev 8.7% vs 31-36% global peers = margin upside. But uninvestable: undisclosed Essel Group links, offshore ownership layers (Mauritius/BVI/Bahamas), Essel-linked related-party loans, audit 'typo' excuse. Integrity risk too high.
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