Waterways Leisure Tourism Limited, operator of the Cordelia Cruises brand, announced its unaudited financial results for the quarter and half year ended September 30th, 2026. The company delivered a stronger performance in Q2 and H1 FY27, with sustained improvement on both a YoY and QoQ basis, despite a challenging macroeconomic and geopolitical environment.

Q2 FY27 Business Highlights

The company recorded revenue from operations of ₹1329.00 Mn in Q2 FY27, compared with ₹1015.36 Mn in the corresponding quarter of the previous year, with ticket revenue and onboard & other revenue. The company witnessed sustained demand across its sailings during the quarter, with a load factor of 75.53%.

H1-FY27 Business Highlights

For the six months ended September 30, 2026, the company recorded revenue from operations of ₹3230.12 Mn, compared with ₹2778.51 Mn in the corresponding period of the previous year. Ticket revenue continued to be the primary contributor at ₹2768.14 Mn, while onboard and other revenue stood at ₹460.08 Mn. The company maintained healthy demand across its sailings during H1 FY27, with a load factor of 91.23%.

Key Operational Highlights

A key milestone during the period was the delivery of Cordelia Sky one month ahead of schedule, expanding the company’s overall capacity by approximately 126%. With operations scheduled to commence on October 23, 2026, the company has witnessed encouraging initial bookings for Sky. Cordelia Sun remains on track for scheduled delivery, further strengthening the company’s fleet capacity and supporting its next phase of growth.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Waterways Leisure Tourism Limited

Waterways Leisure Tourism Limited. Here’s a quick read on where the business and the stock stand today.

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Waterways Leisure Tourism Limited (NSE: CORDELIA) has reported impressive financial results for the Q2 and H1 FY27 period, ending September 30, 2026. The company’s revenue from operations surged by 31% year-on-year to ₹1,329 crore in Q2 FY27 and rose 16% to ₹3,230 crore in H1 FY27. The company’s EBITDA increased by 3337% and 131% respectively for Q2 and H1 FY27. The EBITDA margin improved by 61 basis points to 58.45% in Q2 and by 19 basis points to 38.45% in H1 FY27. The PAT (Profit After Tax) jumped by 755% to ₹585 crore in Q2 FY27 and soared 215% to ₹813 crore in H1 FY27. The PAT margin improved by 53 basis points to 44.02% in Q2 and by 16 basis points to 25.16% in H1 FY27.

Industry Overview

The global cruise market remains highly consolidated, with major players dominating the industry. However, there are expanding opportunities for new entrants in the recreational, heritage, and long-distance segments. India’s overnight ocean & coastal cruise market has shown significant growth, expanding from ₹5,764 crore in FY20 to ₹8,301 crore in FY25, with a CAGR of ~8%. The market is expected to grow at a CAGR of ~20–25% to reach ₹18,200–22,500 crore by FY31.

Company Overview

Waterways Leisure Tourism Limited, the operator of the Cordelia Cruises brand, continues to strengthen its market position with its extensive domestic and international itineraries. The company’s comprehensive onboard experiences, including multiple dining venues, casino, theatre, spa, swimming pools, live music, magic shows, and professional theatrical performances, have driven brand recognition and customer loyalty. The company’s festive experiences and curated shore excursions further enhance the overall cruise experience.

As the company moves forward, it anticipates continued growth and expansion in the cruise tourism sector, leveraging its strong market presence and strategic initiatives.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Waterways Leisure Tourism Limited

Waterways Leisure Tourism Limited. Here’s a quick read on where the business and the stock stand today.

Symbol CORDELIA not found in TradeAlone database.

Waterways Leisure Tourism Limited (NSE: CORDELIA) announced today that its equity shares have commenced trading on an ex-split basis with effect from August 25, 2026, following the sub-division of its equity shares in a 1:10 ratio. Pursuant to the intimation received from the stock exchanges, August 25, 2026 has been designated as the Ex-Split Date, while August 26, 2026 remains the Record Date for determining the shareholders entitled to receive the subdivided equity shares. The Ex-Split Date has been advanced by one day in view of the Clearing holiday on August 26, 2026.

Enhanced Accessibility

Under the approved corporate action, each existing fully paid-up equity share of ₹10 has been sub-divided into 10 fully paid-up equity shares of ₹1 each. The Company’s paid-up equity shares capital remains unchanged at ₹723.95 million, while the total number of equity shares increases from 7,23,94,543 equity shares to 72,39,45,430 equity shares. The sub-division is intended to enhance the accessibility of the Company’s equity to a broader investor base and facilitate wider participation in its listed shares, including among retail investors.

Corporate Action Benefits

The corporate action is also expected to support greater participation and liquidity in the secondary market. Jurgen Bailom, Chairman of the Board, Executive Director and CEO, Waterways Leisure Tourism Limited, said: ‘The 1:10 share sub-division is designed to make Waterways Leisure Tourism’s equity more accessible by bringing down the face value per share from ₹10 to ₹1, thereby enabling participation at a lower per-share price point. We believe this will make the stock more approachable for a wider investor base, particularly retail investors, while supporting greater participation and liquidity in the market. Importantly, the sub-division does not alter the Company’s underlying value or paid-up capital, but improves the accessibility of our equity as we continue to execute our growth plans.’ As the Company’s shares begin trading on an ex-split basis, Waterways Leisure Tourism remains focused on scaling Cordelia Cruises, expanding its fleet and strengthening its position in India’s organised cruise tourism ecosystem.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Waterways Leisure Tourism Limited

Waterways Leisure Tourism Limited. Here’s a quick read on where the business and the stock stand today.

Symbol CORDELIA not found in TradeAlone database.