Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹1280 Cr.
Stock P/E
42.5
P/B
—
Current Price
₹85.1
Book Value
₹ 0
Face Value
10
52W High
₹132.1
52W Low
₹ 74.3
Dividend Yield
0%

Navkar Corporation Overview

Business

Navkar Corporation Ltd. is a logistics company primarily engaged in the operation of Container Freight Stations (CFS) and Inland Container Depots (ICD) in India. Its core business involves providing integrated logistics services for the import and export (EXIM) trade. This includes handling and storage of containerized and non-containerized cargo, customs clearance facilitation, stuffing and de-stuffing of containers, warehousing, and first and last-mile transportation services. The company makes money through charges levied for cargo handling, storage, transportation, and other ancillary logistics services provided to shipping lines, freight forwarders, and EXIM clients.

Revenue Mix

The company's primary revenue driver is its CFS/ICD operations. While precise segment-wise revenue breakdown is not always disclosed in detail, the vast majority of its revenue is derived from:

Container Freight Station (CFS) Operations: Handling and storage of export/import containers near major ports (e.g., Nhava Sheva).

Inland Container Depot (ICD) Operations: Handling and storage of containers away from ports, often connected by rail.

Logistics & Transportation Services: Providing rail and road connectivity for cargo movement to and from its facilities.

These segments are integrated to offer an end-to-end logistics solution, with CFS operations typically forming the largest component.

Industry

The Indian logistics industry is highly fragmented, but the CFS/ICD segment involves significant capital expenditure and regulatory compliance. Navkar Corporation operates in a competitive environment with both organized and unorganized players. The company is primarily concentrated around India's largest port, Jawaharlal Nehru Port Trust (JNPT) in Nhava Sheva, Maharashtra, where it holds a significant market share among private CFS operators. Its positioning is characterized by large-scale infrastructure, proximity to major trade hubs, and an established presence, making it one of the prominent private players in the port-led logistics infrastructure space in Western India.

MOAT

Navkar Corporation possesses several competitive advantages:

Strategic Location: Its large CFS facilities are strategically located in close proximity to the Nhava Sheva port, a critical gateway for India's EXIM trade. This proximity reduces transit times and costs for clients.

Scale & Infrastructure: The company owns and operates large, modern facilities, including significant land parcels, state-of-the-art handling equipment, and substantial warehousing capacity, creating high barriers to entry for new players.

Established Relationships: Long-standing relationships with shipping lines, freight forwarders, customs authorities, and a diverse customer base provide sticky business.

Regulatory Barriers: The high capital investment and regulatory approvals required to establish and operate CFS/ICD facilities act as a natural barrier to entry.

Growth Drivers

Growth in India's EXIM Trade: India's increasing international trade volumes, driven by economic growth and global supply chain realignment, directly fuel demand for CFS/ICD services.

Government Initiatives: Schemes like "Make in India," the National Logistics Policy, and investments in infrastructure (e.g., dedicated freight corridors, port modernization) are expected to boost logistics efficiency and trade.

Increased Containerization: The global shift towards containerized cargo movement for efficiency and safety benefits companies like Navkar.

Capacity Expansion & Diversification: Potential for expansion of existing facilities, development of new CFS/ICD locations, or diversification into complementary logistics services (e.g., cold chain, specialized warehousing) could drive growth.

Risks

Trade Volume Volatility: The company's performance is highly dependent on global trade volumes and economic cycles, making it susceptible to slowdowns in EXIM activity.

Port Congestion & Policy Changes: Issues at the JNPT port (e.g., congestion, labor strikes) or adverse changes in port/customs policies can impact operations and volumes.

Competition: Intense competition from other CFS operators, integrated logistics players, and direct port delivery (DPD) initiatives can exert pressure on pricing and market share.

Regulatory & Environmental Compliance: Changes in customs regulations, environmental norms, or land use policies could impact operations and costs.

Fuel Price Volatility: Significant variations in fuel prices can impact transportation costs, affecting margins if not effectively passed on to customers.

High Debt Levels: An asset-heavy business model can lead to high debt, making the company vulnerable to interest rate fluctuations.

Management & Ownership

Navkar Corporation Ltd. is a promoter-driven company, with the Jain family holding a significant stake and actively involved in its management. The promoter group has a long history and experience in the logistics and transportation sector, having established the business. The ownership structure typically shows a substantial promoter holding, alongside institutional investors and public shareholders. The management team is expected to have deep operational knowledge of the logistics and CFS/ICD business in India.

Outlook

Navkar Corporation's outlook is tied to the growth trajectory of India's EXIM trade and the broader logistics sector. The company benefits from its strategic location, established infrastructure, and operational scale near a key port like JNPT, which provides a durable competitive edge. Structural tailwinds such as increasing containerization and government impetus on infrastructure development and trade facilitation present clear growth opportunities. However, the business faces inherent risks from the cyclicality of global trade, intense competition, and potential policy changes or port-related disruptions. While its strong asset base and established relationships offer stability, the ability to maintain market share amidst evolving port logistics policies (like DPD) and manage operational costs effectively will be crucial for sustained performance.

Navkar Corporation Share Price

Live · BSE / NSE · Inception: 2008
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Navkar Corporation Quarterly Results

#(Fig in Cr.) Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017
Net Sales 86 88 91 90 90 92 99 99 108 106
Other Income 4 10 7 4 3 2 3 1 0 0
Total Income 90 98 98 94 93 94 102 100 108 107
Total Expenditure 55 54 54 55 56 59 64 60 67 69
Operating Profit 34 44 44 40 37 35 38 40 41 38
Interest 8 8 8 8 7 9 8 7 5 1
Depreciation 5 5 5 5 5 5 5 5 5 5
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 22 32 31 26 26 22 26 28 30 31
Provision for Tax 2 5 9 3 3 2 6 6 5 8
Profit After Tax 20 27 22 24 22 19 20 22 25 23
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 20 27 22 24 22 19 20 22 25 23
Adjusted Earnings Per Share 1.4 1.9 1.6 1.6 1.6 1.4 1.4 1.5 1.7 1.6

Navkar Corporation Profit & Loss

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 TTM
Net Sales 268 333 349 329 347 371 412
Other Income 1 5 21 2 23 13 4
Total Income 269 338 370 331 370 384 417
Total Expenditure 178 232 225 209 214 233 260
Operating Profit 91 106 145 122 157 151 157
Interest 30 32 33 26 34 31 21
Depreciation 8 10 13 15 19 20 20
Exceptional Income / Expenses 0 0 0 0 0 0 0
Profit Before Tax 53 64 99 80 103 99 115
Provision for Tax 6 7 9 12 18 14 25
Profit After Tax 47 57 91 68 86 86 90
Adjustments 0 0 0 0 0 0 0
Profit After Adjustments 47 57 91 68 86 86 90
Adjusted Earnings Per Share 0 0 0 0 6 6 6.2

Navkar Corporation Balance Sheet

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
Shareholder's Funds 209 309 438 744 1364 1449
Minority's Interest 0 0 0 1 0 0
Borrowings 354 354 343 430 364 339
Other Non-Current Liabilities 16 22 25 35 82 65
Total Current Liabilities 81 113 111 199 246 303
Total Liabilities 660 797 917 1408 2056 2156
Fixed Assets 549 620 656 1073 1171 1194
Other Non-Current Assets 30 67 139 153 491 700
Total Current Assets 81 109 122 182 394 261
Total Assets 660 797 917 1408 2056 2156

Navkar Corporation Cash Flow

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
Opening Cash & Cash Equivalents 0 0 2 1 1 5
Cash Flow from Operating Activities 66 73 79 123 224 108
Cash Flow from Investing Activities -112 -109 -90 -194 -664 -47
Cash Flow from Financing Activities 46 38 10 70 443 -28
Net Cash Inflow / Outflow 0 1 -1 -0 4 34
Closing Cash & Cash Equivalent 0 2 1 1 5 38

Navkar Corporation Ratios

# Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
Earnings Per Share (Rs) 0 0 0 0 6 6
CEPS(Rs) 6.82 7.54 9.44 7.63 7.35 7.41
DPS(Rs) 0 0 0 0 0 0
Book NAV/Share(Rs) 0 0 0 0 95.62 101.6
Core EBITDA Margin(%) 33.63 30.53 35.59 36.36 38.5 37.06
EBIT Margin(%) 30.97 28.86 37.83 32.39 39.61 35.18
Pre Tax Margin(%) 19.6 19.13 28.38 24.36 29.71 26.75
PAT Margin (%) 17.52 17.01 25.92 20.82 24.63 23.08
Cash Profit Margin (%) 20.52 20.07 29.64 25.45 30.19 28.49
ROA(%) 7.12 7.79 10.57 5.89 4.94 4.06
ROE(%) 22.5 22.02 24.39 11.62 8.12 6.09
ROCE(%) 13.26 13.96 16.24 9.79 8.69 6.83
Receivable days 81.65 67.37 72.81 85.34 65.9 45.74
Inventory Days 0 0 0 1.79 2.94 4.76
Payable days 27.83 30.88 41.54 0 0 0
PER(x) 0 0 0 0 30.08 29.4
Price/Book(x) 0 0 0 0 1.89 1.74
Dividend Yield(%) 0 0 0 0 0 0
EV/Net Sales(x) 1.61 1.37 1.31 2.03 8.02 7.8
EV/Core EBITDA(x) 4.73 4.29 3.14 5.47 17.75 19.21
Net Sales Growth(%) 0 24.37 4.8 -5.9 5.63 6.81
EBIT Growth(%) 0 15.91 37.37 -19.45 29.18 -5.12
PAT Growth(%) 0 20.77 59.65 -24.41 24.96 0.09
EPS Growth(%) 0 0 0 0 0 0.09
Debt/Equity(x) 2 1.44 1 0.75 0.37 0.35
Current Ratio(x) 1 0.97 1.1 0.92 1.6 0.86
Quick Ratio(x) 1 0.97 1.1 0.91 1.58 0.84
Interest Cover(x) 2.72 2.97 4 4.04 4 4.17
Total Debt/Mcap(x) 0 0 0 0 0.2 0.2

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +7% +2% +7% —
Operating Profit CAGR -4% +1% +11% —
PAT CAGR 0% -2% +13% —
Share Price CAGR -33% +12% +15% -8%
ROE Average +6% +9% +14% +16%
ROCE Average +7% +8% +11% +11%

Navkar Corporation Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 70.37 %
FII 0.67 %
DII (MF + Insurance) 0.02 %
Public (retail) 28.94 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 70.4570.4570.4570.4570.4570.3770.3770.3770.3770.37
FII 0.280.240.280.730.330.20.220.220.170.67
DII 001.051.311.751.891.951.651.650.02
Public 29.2729.3228.2227.5127.4727.5427.4627.7627.8128.94
Others 0000000000
Total 100100100100100100100100100100

Navkar Corporation Peer Comparison

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Navkar Corporation Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Navkar Corporation Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 9% over the last 3 years.
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