Cordelia Cruises Q1 Net Profit at ₹22.77 Crores

Reported a consolidated net profit of ₹22.77 Crores.
Achieved a net profit margin of approximately 12% for the quarter.
The load factor for the quarter was 105%, an increase from 99.9% in the previous year's Q1.
The average ticket price increased by 4.3% year-over-year (YoY).
Served more than 55,700 guests during the quarter.
Booked 24,245 staterooms, reflecting a growth of around 10% over Q1 of the previous year.

The quarter was significantly impacted by high fuel costs driven by the geopolitical situation in the Middle East, creating industry-wide headwinds.
The company is expanding its presence in Lakshadweep with two new islands and testing new ports on the West Coast.
A new loyalty program, "Chairman's Club," is scheduled for rollout by the end of Q2 FY27.
A new sales center will be opened in Cochin in September to aggressively build direct business.

Cordelia Sky: The vessel is currently sailing in the Greek and Mediterranean waters. The handover date is scheduled for September 25, 2026. It will be rebranded and will arrive in Mumbai on October 15, 2026. The maiden voyage from Mumbai is scheduled for October 23, 2026.
The vessel has already secured ₹65 Crores in advance bookings, which is expected to translate to revenue of ₹110-115 Crores for its initial shorter sailings.
Cordelia Sun: Will follow the delivery of Cordelia Sky.
The new ships feature a superior cabin mix (245 suites vs. 69 on the current ship, Empress) and more amenities (9 restaurants vs. 3), which is expected to drive significant revenue growth.

The decline in EBITDA margin was primarily attributed to a ₹14 Crore increase in fuel costs YoY. The average fuel price per metric tonne rose from $580 last year to a peak of $1,228 during the quarter; it has since moderated to around $800.
Additional cost increases included approximately ₹2 Crores in crew-related expenses (due to international remuneration standards) and ~₹1 Crore in food expenses.
A strategy to recover higher fuel costs involves implementing fuel surcharges on new bookings. The financial impact of these surcharges is expected to be visible from the end of Q2 FY27 onwards.
Management expects future margin improvement from cost-sharing as the fleet expands from one to three ships, distributing fixed shore-side costs (marketing, management fees) and increasing purchasing power.

Finance cost increased to ₹4 Crores for the quarter due to a loan taken from IDFC First Bank. This loan was taken to aid with credit rating considerations, even though it is backed by fixed deposits. The company intends to prepay the loan but is carrying it due to a 1% prepayment cost.

The company specializes in "visa free and passport free" destinations. With the new ships, it will introduce international sailings focused on easy entry for Indians, covering Sri Lanka, Maldives, Singapore, Indonesia, and Thailand.
Four new international sailings from the West Coast during the monsoon are planned for 2027.
Maldives and Columbus sailings from the East Coast will start in October of the current year.
Port charges for international cruises were noted to be generally lower than domestic charges due to different tax structures and fewer port calls per cruise duration.

Q1 is described as very strong, followed by a flatter Q2 (monsoon/off-season used for testing new itineraries), with a huge spike in Q3 and Q4 driven by weddings and holidays (Diwali, Navratri, Christmas, New Year).
Management works on an annual average and does not focus heavily on individual quarters.
For the existing ship, Empress, revenue growth is expected to be in the range of 10-12% going forward.