Navkar Corporation Ltd (NAVKARCORP)
🎯 Key Takeaways
- Navkar Corporation Ltd operates within the logistics and infrastructure sector under the JSW Infrastructure group, focusing on port and terminal operations. The company is in a strategic expansion phase, leveraging strong cash flows and infrastructure development to scale capacity and capture growth in cargo and logistics revenue.
- Revenue declined 1.2% QoQ to ₹106 in Q3FY18.
- ⚠️ Execution risk around large-scale infrastructure projects and timelines for capacity commissioning could impact revenue targets. Dependence on macroec
- Market Cap
- ₹1,309
- P/E Ratio
- 13.9
- P/B Ratio
- 0.90
- ROE
- 0.0%
- ROCE
- 7.5%
- Debt/Equity
- 0.26
- Promoter
- 70.4%
📖 The Story
Navkar Corporation Ltd operates within the logistics and infrastructure sector under the JSW Infrastructure group, focusing on port and terminal operations. The company is in a strategic expansion phase, leveraging strong cash flows and infrastructure development to scale capacity and capture growth in cargo and logistics revenue. Recent financial performance reflects operational improvements and disciplined capital allocation.
📰 What's Happening
In Q1 FY27, JSW Infrastructure reported ₹1,445 crore revenue (up 18% YoY) driven by 6% cargo volume growth to 31 million tonnes and improved logistics performance. The company expanded port capacity, secured environmental clearance for Murbe Port rail connectivity, and completed a ₹7,503 crore QIP backed by marquee investors. It also obtained a Moody’s Baa3 rating with a stable outlook. Management targets ₹6,850 crore revenue and ₹3,000 crore EBITDA for FY2027, with long-term goals of ₹5,200 crore ports revenue and ₹8,000 crore logistics revenue by FY28 through projects like Jaigarh LPG terminal and Kolkata Container Terminal.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
|---|---|---|---|---|
| Revenue | 99 | 99 | 108 | 106 |
| Operating Profit | 30 | 34 | 35 | 32 |
| OPM % | 30.6% | 34.0% | 32.4% | 30.2% |
| Net Profit | 20 | 22 | 25 | 23 |
| EPS | ₹1.42 | ₹1.52 | ₹1.74 | ₹1.59 |
Revenue and EBITDA growth have accelerated in recent quarters, aligning with management's expansion narrative. Operating margins have remained stable around 30-32%, indicating disciplined cost management amid scale. Net profit and EPS trends from 2017 show consistent profitability, supporting the current upward trajectory in performance tied to infrastructure investments and cargo volume gains.
🔮 Management Outlook & What's Next
Management expects sustained growth through capacity expansion, targeting ₹6,850 crore revenue and ₹3,000 crore EBITDA for FY2027, with longer-term ambitions of ₹5,200 crore ports revenue and ₹8,000 crore logistics EBITDA by FY28. These goals are underpinned by ongoing projects including Murbe Port expansion, Jaigarh LPG terminal, and Kolkata Container Terminal, all aimed at enhancing throughput and operational efficiency.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2016 | Mar 2017 | Mar 2017 | Mar 2018 |
|---|---|---|---|---|
| Equity Capital | 143 | 143 | 143 | 143 |
| Reserves | 1,221 | 1,306 | 1,271 | 1,352 |
| Borrowings | 397 | 375 | 390 | 413 |
| Total Liabilities | 1,996 | 2,089 | 2,024 | 2,112 |
| Fixed Assets | 1,216 | 1,195 | 1,215 | 1,234 |
| Investments | 0 | 46 | 0 | 0 |
| Total Assets | 1,996 | 2,089 | 2,024 | 2,112 |
The company maintains a strong balance sheet with significant cash reserves and manageable leverage. While gross debt stands at ₹7,094 crore, the robust cash position of ₹9,863 crore and improved credit rating reflect financial stability. Capital allocation appears focused on strategic infrastructure investments rather than aggressive deleveraging or shareholder returns.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2017 |
|---|---|
| Operating | +108 |
| Investing | -47 |
| Financing | -28 |
| Net Cash Flow | +34 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 70.4% | 70.4% | 70.4% | 70.4% |
| FII | 0.2% | 0.2% | 0.2% | 0.7% |
| DII | 1.9% | 1.6% | 1.6% | 0.0% |
| Public | 21.4% | 21.9% | 22.4% | 23.0% |
| # Shareholders | 58,573 | 60,248 | 60,347 | 59,524 |
Promoter holding remains stable at 70.37% over recent quarters, indicating confidence from the JSW group. Institutional ownership (FII and DII) remains very low, collectively accounting for less than 2.5% of equity, suggesting limited foreign or domestic institutional interest despite strong fundamentals and growth plans.
⚖️ Peer Comparison — Logistics
🔗 Peer Stock Analyses
⚠️ Risk Factors
Execution risk around large-scale infrastructure projects and timelines for capacity commissioning could impact revenue targets. Dependence on macroeconomic drivers like cargo volumes and global trade patterns introduces demand volatility. Additionally, low institutional participation may reflect perceived execution or sectoral risks not fully offset by current performance.
📋 Recent Filings
- Announcement2026-09-29Navkar Corporation Ltd announced that its trading window will close on October 1, 2026, and remain closed for 48 hours after the un-audited quarterly …
- 🔴 Announcement2026-09-23Navkar Corporation Limited received a credit rating reaffirmation from CRISIL Ratings on September 22, 2026, confirming its long-term rating of AA-/St…
- 🔴 Announcement2026-09-09Navkar Corporation announced its parent, JSW Infrastructure, will host three virtual and in-person investor meetings in September 2026 with Morgan Sta…
- 🔴 Announcement2026-08-27Navkar Corporation announced its holding company JSW Infrastructure will attend an investor meeting on September 2, 2026 at Grand Hyatt, Santacruz, Mu…
- Announcement2026-08-10Navkar Corporation Limited announced its parent, JSW Infrastructure Limited, will participate in two investor conferences on August 14 and 18, 2026, a…
- Announcement2026-07-27Navkar Corporation Limited announced that the transcript of its earnings conference call held on July 21, 2026, conducted by JSW Infrastructure Limite…
- 🔴 Financial Results2026-07-21Navkar Corporation Limited announced that its parent, JSW Infrastructure, reported Q1 FY2027 revenue of ₹1,445 crore, up 18% YoY, driven by 6% cargo v…
- 🔴 Financial Results2026-07-21JSW Infrastructure reported Q1 FY27 revenue of ₹1,445 crore, up 18% YoY, driven by cargo growth and favorable mix, with operating EBITDA at ₹674 crore…
- Announcement2026-07-21Navkar Corporation Limited announced that the audio recording of its investor conference call held on July 21, 2026 is now available on its website vi…
- Announcement2026-07-16Navkar Corporation Limited announced that its parent, JSW Infrastructure Limited, will host a conference call on July 21, 2026 at 5:30 PM IST to discu…
🧠 Analyst's Read
Navkar Corporation is positioned in a high-growth infrastructure segment with improving financials and clear expansion milestones. Investors should monitor progress on project execution, cargo volume trends, and management's ability to deliver on EBITDA margins as scale increases. The next key catalyst is the September 2026 investor meeting for potential updates on project timelines and capital allocation.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
📡 Get AI alerts when NAVKARCORP files new disclosures
Track NAVKARCORP filings, board meetings, and corporate actions. Free email alerts at 5 PM.
Track NAVKARCORP — FreeFree account · 2 AI queries/day