NAVKAR CORPORATION Q2 CONCALL : LOGISTICS EBITDA JUMPS 3.3X YOY TO ₹81 CR; JSW INFRASTRUCTURE TARGETS ₹400 CR FY27 LOGISTICS EBITDA & 110 RAIL RAKES BY MARCH 2027

• JSW INFRASTRUCTURE MANAGEMENT MAINTAINS FY27 LOGISTICS EBITDA GUIDANCE OF APPROXIMATELY ₹400 CR FOR ITS OVERALL LOGISTICS BUSINESS, INCLUDING NAVKAR • MANAGEMENT RAISES FY27 LOGISTICS EBITDA MARGIN GUIDANCE TO 28% FROM EARLIER 24%, PARTLY REFLECTING CHANGES IN RAIL HAULAGE ACCOUNTING • MANAGEMENT TARGETS EXPANSION OF RAIL RAKE FLEET TO 110 BY MARCH 2027 FROM 78 IN Q2 FY27, WITH 32 ADDITIONAL RAKES EXPECTED DURING H2 • MANAGEMENT EXPECTS STRONGER LOGISTICS EARNINGS IN H2 FY27 AS RECENTLY ADDED RAIL RAKES BECOME OPERATIONAL & CONTRIBUTE FOR LONGER PERIODS • NAVKAR CORPORATION REPORTED Q2 OPERATING REVENUE OF ₹223 CR, WHILE JSW INFRASTRUCTURE'S OVERALL LOGISTICS REVENUE STOOD AT APPROXIMATELY ₹279 CR • OVERALL LOGISTICS EBITDA SURGED APPROXIMATELY 3.3X YOY TO ₹81 CR FROM ₹25 CR LAST YEAR • LOGISTICS EBITDA MARGIN IMPROVED TO 29% FROM 15% YOY, WITH COMPARABILITY AFFECTED BY NETTING RAIL HAULAGE CHARGES AGAINST REVENUE • DOMESTIC CARGO VOLUMES GREW 16% YOY TO 4.59 LAKH MT IN Q2, WHILE H1 DOMESTIC CARGO GROWTH REACHED 26% • EXIM CARGO VOLUMES INCREASED 12% YOY TO 88,000 TEUS IN Q2, WHILE H1 EXIM VOLUMES GREW 7% • RAIL RAKE FLEET EXPANDED FROM 42 IN Q1 FY27 TO 78 IN Q2, WITH ONLY EIGHT OF THE 36 ADDITIONAL RAKES DEPLOYED DURING SEPTEMBER • MANAGEMENT EXPECTS 72 RAKES TO OPERATE FROM OCTOBER, WITH THE REMAINING SIX EXPECTED TO BECOME OPERATIONAL DURING NOVEMBER–DECEMBER • MANAGEMENT INDICATED LONGER-TERM INITIAL FLEET PLANNING OF APPROXIMATELY 267 RAKES, SUBJECT TO TERMINAL EXPANSION & BUSINESS REQUIREMENTS • COMPANY ACQUIRED NCR RAIL INFRASTRUCTURE, APPROVED AN INLAND CONTAINER DEPOT AT KUDATHINI, BELLARY & SECURED A GATI SHAKTI CARGO TERMINAL IN TAMIL NADU • LOGISTICS NETWORK EXPANDED FROM THREE TO EIGHT LOCATIONS OVER APPROXIMATELY TWO YEARS, WHILE DOMESTIC CONTAINER FLEET INCREASED FROM 2,400 TO NEARLY 5,000 • MANAGEMENT REMAINS POSITIVE ON RAIL LOGISTICS EXPANSION & CARGO GROWTH, BUT RAKE DEPLOYMENT DELAYS, HIGHER DEPRECIATION, TERMINAL EXECUTION & ACCOUNTING-RELATED MARGIN COMPARABILITY REMAIN KEY RISKS

JSW INFRASTRUCTURE LTD

← Back to feed