### **Overview** **Navkar Corporation Limited** is a leading Indian integrated logistics provider specializing in **Container Freight Stations (CFS), Inland Container Depots (ICD), Private Freight Terminals (PFT), Container Train Operations (CTO), and warehousing services**. Incorporated in 2008 and listed on the **NSE and BSE since 2015**, the company is headquartered in Mumbai and operates strategically across Western India—primarily in **Panvel, Maharashtra, and Morbi, Gujarat**. In **June 2025**, Navkar was **acquired by JSW Port Logistics Private Limited**, a wholly-owned subsidiary of **JSW Infrastructure Limited**, marking a transformative step in its strategic evolution. This acquisition aligns with JSW’s broader vision to build an end-to-end logistics ecosystem and enhance its multimodal connectivity across India. --- ### **Key Business Segments & Operations** Navkar operates through four interconnected business verticals: 1. **CFS Operations** – Serving Jawaharlal Nehru Port Trust (JNPT/Nhava Sheva), India’s largest container port. 2. **ICD Operations** – Focused on hinterland connectivity, especially in Gujarat. 3. **Container Train Operator (CTO) Operations** – Offering rail-based cargo movement with pan-India reach. 4. **Private Freight Terminal (PFT) Operations** – High-efficiency rail terminals under the Gati Shakti scheme. --- ### **Network & Infrastructure** As of **November 2025**, Navkar manages a **total land bank of 283 acres**: - **Panvel, Maharashtra**: 143 acres (84 acres developed) - **Morbi, Gujarat**: 140 acres (99 acres developed, 100 acres undeveloped land available for expansion) #### **Container Freight Stations (CFS) – Panvel** - **Three operational CFS facilities** located near **Nhava Sheva Port**: - Ajivali CFS I: 25,000 TEUs/year - Ajivali CFS II: 65,000 TEUs/year - Somathane CFS III: 445,500 TEUs/year **Total CFS Capacity: 535,500 TEUs/year** - Equipped with modern infrastructure including: - Rubber Tyre Gantry (RTG) cranes, reach stackers, forklifts - Concreted and paved yards (84+ acres) - RFID, OCR, GPS tracking, eSanchit & EDI integration - On-site **Private Freight Terminal (PFT)** with **two fully concreted railway sidings**, connected to the Dedicated Freight Corridor (DFC), enabling bulk rail movement - Offers **value-added services**: customs clearance, LCL consolidation, cold storage, fumigation, labeling, barcoding, packing, and container repair #### **Inland Container Depot (ICD) – Morbi, Gujarat** - **140-acre facility** in the heart of the **ceramic industry hub**, also recognized as a **Private Freight Terminal (PFT)** under the **PM Gati Shakti scheme** - **ICD capacity: 200,000 TEUs/year**, with the ability to handle: - Over **4,500 TEUs in customs-notified yard**, and more than **4,000 TEUs in empty container yard** - **Python trains** (1.5 km long) - **Six railway sidings** (five fully concreted), making it the **largest private rail terminal in Western India outside Mundra and Nhava Sheva** - Equipped with: - 3 × RTG cranes - >200,000 sq. ft. of **warehousing** (bonded & domestic) - Integrated ERP, RFID tracking, automated gates, real-time GPS monitoring - Strategic proximity to **Mundra Port** (~200 km) enables efficient EXIM routing - Serves key industrial clusters in **Saurashtra**, including Morbi (33 km), Rajkot (97 km), and Wankaner (60 km) --- ### **Rail & Logistics Capabilities** - **Category 1 Container Train Operator (CTO) License** from Indian Railways (acquired June 2022), granting unrestricted access for domestic and EXIM cargo - Owns and operates **8 dedicated railway rakes**, supported by lease arrangements during peak demand - Owns **two locomotives and 6 total rakes** (as of 2023), with monthly movement of **~24,000 km and 50,000+ MT cargo** - Fleet includes specialized domestic containers for diverse cargo types: - Steel coils, bulk commodities, bagged goods, liquids (via tank containers), project cargo, and automobiles - Operates **PFTs at Somathane (Panvel)** and **Wadharva (Morbi)** with a combined **7 railway sidings** --- ### **Transportation & Multimodal Services** - Offers **three primary logistics modes**: 1. **Road transport** – From origin to destination 2. **Sea route** – Coastal shipping 3. **Multimodal (rail + road)** – Optimized for cost and efficiency - Operates a **large fleet of tractor-trailers** (1,200+ units as of 2022, equipped with RFID and GPS) - Provides **end-to-end solutions** with **first-mile and last-mile connectivity**, especially critical for import/export cycles - Example: Slab movement from origin to Anjar, Gujarat—including rail and road transport, laden and empty movements, terminal handling --- ### **Technology & Digital Integration** - Fully digitized operations across all facilities: - **CFS Management System**, ERP, EDI, eSanchit, RFID container tracking - **Real-time cargo visibility**, automated gates, digital inventory systems - **GPRS vehicle tracking** for trailers and equipment - Enables **paperless operations**, transparency, faster turnaround, and improved customer experience --- ### **Warehousing & Value-Added Services** - Total logistics footprint across **10.32 million sq. ft** (as of 2023), including **>2.4 million sq. ft. of customs-notified area** - Offers **bonded & non-bonded warehousing**, temperature-controlled storage (reefer plug points), empty container depots - **Specialized capabilities**: - **Hazardous cargo (IMO) handling** - **LCL consolidation (118,000 sq. ft. space)** - **Cold storage & quarantine labs** (on-site in Panvel for agro-exports) - **Cement silos (>3,000 MT capacity)** with tank containers for bulk transport - **Project cargo handling** for oversized and breakbulk cargo --- ### **Strategic Positioning & Market Strength** - Strong presence at **JNPT**, with deep partnerships with **shipping lines, customs agencies, and port authorities** - **Shift from road to rail** has improved margins, volumes, environmental performance, and client cost savings - Focused on **commodity-specific logistics solutions**, especially: - **Ceramic exports** (Morbi ICD) - **Agricultural goods** (via export rakes) - **Steel, chemicals, consumer goods, automotive components** - Serves a **diverse client base** across manufacturing, retail, iron & steel, petrochemicals, and agri-commodities --- ### **Impact of JSW Infrastructure Acquisition (2025)** - **Strategic Rationale**: - JSW Infrastructure, India’s **second-largest private commercial port operator** (12 port concessions), aims to provide **end-to-end logistics**, including **last-mile connectivity** - Navkar acquisition marks JSW’s **first step into integrated logistics** - Complements JSW’s existing assets: ports (India), dry bulk terminals (Fujairah, UAE), and plans for **Gati Shakti Multi-Modal Cargo Terminals (GCTs)** - **Expected Synergies**: - Expansion into **new markets** and **diversified revenue streams** - Access to JSW’s capital, technology, and pan-India network - Development of **Greenfield ICDs** leveraging JSW Group’s industrial land bank (steel, cement sites) - Inorganic growth via **acquisitions of other CFS/ICD businesses** --- ### **Financial & Operational Highlights (FY 2025)** - **Majority of revenue now from multimodal and non-ocean freight businesses** - **Diversified cargo mix**: balanced between import (~55–57%), export (~35–43%), and domestic - Strong **customer retention** through customized solutions and reliability ---