Navkar Corporation Limited has disclosed JSW Infrastructure Limited's Q3FY26 results presentation under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The announcement was made on January 16, 2026, as JSW Infrastructure serves as the ultimate holding company of Navkar Corporation.

Regulatory Compliance and Disclosure

The disclosure was submitted to both BSE Limited and National Stock Exchange of India Limited, with Navkar Corporation trading under scrip code 539332 on BSE and symbol NAVKARCORP on NSE. Company Secretary and Compliance Officer Deepa Gehani signed the regulatory filing, confirming that the information is also available on the company's website at www.navkarcorp.com .

JSW Infrastructure Q3FY26 Operational Performance

JSW Infrastructure reported strong operational metrics across its port operations during Q3FY26. The company's total cargo handling reached 31.73 million tonnes in Q3FY26, marking an 8% year-on-year increase from 29.42 million tonnes in Q3FY25.

For the nine-month period ending December 2025, JSW Infrastructure handled 89.97 million tonnes of cargo compared to 85.66 million tonnes in the corresponding period of the previous year, representing a 5% year-on-year growth.

Logistics Segment Financial Results

The logistics segment, which includes JSW Port Logistics and Navkar Corporation, delivered notable financial performance in Q3FY26. Navkar Corporation was consolidated effective October 11, 2024.

Navkar Corporation Operational Metrics

Navkar Corporation's operational performance showed growth across key metrics during Q3FY26:

• Container Handling: 1,074 TEUs in Q3FY26 compared to 797 TEUs in Q3FY25 • Operations Coverage: ICD Morbi, CFS Somathane and Ajivali I & II, and PFT/Rail operations at Morbi, Somathane, and Udhana • Infrastructure Assets: 602 trailers for last-mile delivery and 3,036 domestic standard containers

Strategic Growth Initiatives

JSW Infrastructure outlined its 2030 roadmap targeting significant capacity expansion across port and logistics segments. The company plans to increase its overall operational capacity to approximately 2.4 times current levels by 2030. Key expansion projects include the Oman Greenfield Port with 27 MTPA capacity and estimated capex of US$419 million, targeting commercial operations by H1CY29.

Financial Guidance and Outlook

JSW Infrastructure provided financial guidance for FY26-28, projecting operating revenue growth from ₹5,000 crores in FY25 to ₹11,650 crores by FY28E. The company's expansion strategy encompasses both organic growth through capacity additions and strategic acquisitions in the rail logistics business, including the planned acquisition of JSW Mineral Rail Logistics, JSW Rail Infra Logistics, and JSW South Rail Logistics with an enterprise value of ₹1,212 crores.

JSW Infrastructure Limited, India's second-largest private commercial port operator, announced strong financial results for the third quarter ended December 31, 2025, demonstrating robust operational performance across its diversified portfolio.

Financial Performance Highlights

The company delivered impressive growth across key financial metrics during Q3 FY26:

The company maintained a strong financial position with net debt to operating EBITDA ratio of 0.76x and cash and cash equivalents of ₹3,455.00 crore, positioning it well for future growth initiatives.

Operational Performance and Segment Analysis

Cargo volume growth of 8% to 31.7 million tonnes was primarily driven by strong performances at South West Port and Dharamtar Port, along with positive contributions from interim operations at Tuticorin terminal and JNPA liquid terminal. However, overall growth was partially offset by lower volumes at Paradip Iron Ore and Coal terminals.

Third-party cargo volumes increased significantly to 15.7 million tonnes from 14.3 million tonnes, representing 10% growth. The share of third-party volume improved to 50% compared to 49% in the previous year, indicating successful diversification efforts.

The port segment showed solid performance with operational revenue rising 9% from ₹1,063.00 crore in Q3 FY25 to ₹1,164.00 crore in Q3 FY26. Operational EBITDA for the port segment increased 7% to ₹611.00 crore compared to ₹570.00 crore in the corresponding quarter last year.

Navkar Corporation Performance

Navkar Corporation delivered exceptional operational results during the quarter:

This strong performance from Navkar Corporation contributed significantly to the overall revenue growth of the consolidated entity.

Strategic Developments and Expansion

JSW Infrastructure announced several major strategic initiatives during the quarter:

Oman Port Development: The company signed an agreement with state-owned Minerals Development Oman (MDO) to develop and operate a 27 MTPA port with a project cost of $419.00 million. Construction is planned over 36 months, with commercial operations targeted in H1 CY2029.

Rail Rakes Business Acquisition: Through its wholly-owned subsidiary JSW Port Logistics Private Limited, the company acquired 100% equity shares of three rail logistics companies for an enterprise value of ₹1,212.00 crore. The acquisition provides:

• Immediate access to Indian Railways' GPWIS and LSFTO schemes
• Fully operational fleet of 22 rakes with 3 additional rakes under delivery
• EPS accretive transaction from inception

Gati Shakti Terminal: Navkar Corporation received Letter of Acceptance from Railways for developing a Gati Shakti Multi-Modal Cargo Terminal at Somathane, Maharashtra, under the GCT policy.

Growth Strategy and Financial Guidance

The company has outlined an ambitious expansion plan to increase cargo handling capacity to 400 Million Tonnes Per Annum by FY 2030 from current capacity of 177 MTPA. This growth strategy includes:

For FY2026, JSW Infrastructure targets consolidated operating revenue of ₹5,400.00 crore and operating EBITDA of ₹2,600.00 crore. The company expects EBITDA to grow approximately 15% in FY2027 and nearly double by FY2028, reflecting strong operational momentum and clear visibility on growth projects.