Navkar Corporation Limited — PPTs, 13-05-2025: Investor Presentation

1. Financial Highlights:

JSW Infrastructure handled 117 MT cargo, up 9% YoY, with third-party cargo surging 34% to nearly half of volumes. Revenue rose 20% YoY to ₹4,829 crore, EBITDA grew 17% to ₹2,615 crore, and net profit jumped 31% to ₹1,521 crore. Operating EBITDA margin remained robust at 54.2%. The balance sheet stays strong with net debt/EBITDA at 0.65x and gross debt of ₹4,659 crore versus ₹3,188 crore in cash. RoCE improved to 14.3%.

2. Strategic Initiatives & Growth Drivers:

Capex plans of ₹9,000 crore through FY25-30 aim to boost port capacity from 177 mtpa to 400 mtpa via brownfield expansions (Dharamtar, Jaigarh) and greenfield projects (Keni, Jatadhar, Odisha pipeline). The company targets logistics revenue of ₹8,000 crore by FY30, focusing on inland container depots and multi-modal terminals to leverage group synergies and diversify revenue streams.

3. Business Developments:

Acquisition of 70.37% in Navkar Corporation marks entry into logistics with strong volume growth across ICD and CFS. Interim operations have begun at JNPA liquid and Tuticorin dry bulk terminals. LOI received for Murbe Port, Maharashtra, expanding greenfield port footprint. Odisha slurry pipeline project is underway with ₹1,660 crore capex spent from a planned ₹4,000 crore.

4. Market Position & Competitive Advantage:

As India’s second largest private port operator, JSW Infrastructure’s strategically located deep-draft ports on both coasts enable large vessel handling and multi-modal logistics. Tie-ups with JSW Group’s steel and cement provide captive cargo, enhancing scale and cost efficiency. The company benefits from government infrastructure push and growing privatization trends.

5. Investor Implications:

Strong growth potential driven by large capacity expansions, logistics diversification, and solid operating metrics. Healthy financials support growth initiatives. Investors should watch execution risks on greenfield projects and approvals, but the company’s expanding logistics footprint and favorable sector dynamics offer attractive value creation prospects.