JSW Infrastructure, India's second-largest private commercial port operator, has announced strong financial results for the second quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

The company reported a substantial increase in its total revenue, which rose by 26% year-over-year to ₹1,372.00 crore in Q2 FY2026. This growth was primarily driven by a 26% increase in operational revenue, which reached ₹1,266.00 crore.

JSW Infrastructure's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a notable improvement, growing by 18% to ₹716.00 crore compared to the same quarter last year. The EBITDA margin stood at a healthy 52.20%, albeit slightly lower than the 55.80% reported in Q2 FY2025.

Despite the strong top-line growth, the company's Profit After Tax (PAT) experienced a marginal decline of 1% year-over-year, settling at ₹369.00 crore for the quarter.

Operational Performance

The company handled a total cargo volume of 28.90 million tonnes (MT) in Q2 FY2026, representing a 3% increase from the previous year. This growth was achieved despite challenges in certain segments:

• Group cargo volume increased by 6% year-over-year, driven by strong performances at South West Port, Jaigarh Port, and Dharamtar Port.
• The company's subsidiary, Navkar Corporation , delivered robust results with domestic cargo volumes up by 46% and EXIM (Export-Import) cargo volumes increasing by 20% compared to Q2 FY2025.
• However, overall growth was moderated by a 2.10 MT shortfall at the Paradip Iron Ore terminal, attributed to weak seaborne iron ore export market conditions.

Strategic Developments

JSW Infrastructure has made significant strides in its expansion and diversification strategy:

1. The company successfully concluded public hearings for its proposed Greenfield ports at Keni (Karnataka) and Murbe (Maharashtra).
2. It acquired an 86-acre brownfield rail siding in Kudathini, Ballari (Karnataka), which is being developed into a state-of-the-art Multi-Modal Logistics Park (MMLP).
3. A 30-year concession agreement was signed with Syama Prasad Mookerjee Port Authority, Kolkata, for the reconstruction and mechanisation of berths with a total capacity of 0.45 million TEUs (6.30 MTPA).

Financial Position

JSW Infrastructure maintains a strong balance sheet with a net debt of ₹1,810.00 crore as of September 30, 2025. The company reported cash and bank balances of ₹3,088.00 crore, positioning it well for future growth opportunities. The Net Debt to Operating EBITDA ratio stands at a comfortable 0.75x.

In a significant milestone, JSW Infrastructure secured an Investment Grade Rating (BBB-/Stable) from both S&P Global Ratings and Fitch Ratings, underscoring its financial stability and growth prospects.

Outlook

With its strong financial performance, strategic expansions, and robust balance sheet, JSW Infrastructure appears well-positioned to capitalize on growth opportunities in India's port and logistics sector. The company's focus on diversifying its cargo mix and expanding its logistics network is likely to drive sustainable growth in the coming years.

As India's infrastructure sector continues to develop, JSW Infrastructure's strategic initiatives and financial strength place it in a favorable position to benefit from the country's growing trade and economic activities.

Navkar Corporation Limited has reported a strong financial performance for the second quarter, marking a significant turnaround from the previous year. The company's latest financial results demonstrate improvements across key metrics, including revenue, profitability, and operational efficiency.

Financial Highlights

Revenue Growth

Navkar Corporation's revenue saw a substantial increase, rising to ₹1.60 billion from ₹1.30 billion in the corresponding quarter of the previous year. This 23.08% year-over-year growth indicates a robust expansion in the company's business operations.

Improved Profitability

The company's profitability metrics showed notable improvements:

• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to ₹244.00 million, up from ₹176.00 million in the same period last year, representing a 38.64% growth.
• The EBITDA margin expanded to 15.02% from 12.90%, reflecting enhanced operational efficiency and cost management.
• Most significantly, Navkar Corporation returned to profitability with a net profit of ₹44.00 million, reversing the ₹23.00 million loss reported in the previous year's corresponding quarter.

Turnaround and Outlook

The return to profitability marks a crucial milestone for Navkar Corporation, suggesting that the company's strategies for growth and operational improvements are yielding positive results. The substantial increase in revenue, coupled with an expanding EBITDA margin, indicates that the company is not only growing its top line but also managing its costs effectively.

While these results are encouraging, investors and stakeholders will likely be watching closely to see if Navkar Corporation can maintain this positive momentum in the coming quarters. The company's ability to sustain this growth trajectory and profitability will be key factors in assessing its long-term financial health and market position.