Date: July 21, 2026

Financial Performance Summary

Q1 FY2027 Key Financial Highlights:

  • Revenue from Operations: ₹1,445 Crore, up 18% YoY (from ₹1,224 Crore in Q1 FY2026)
  • Operating EBITDA: ₹674 Crore, up 16% YoY (from ₹581 Crore in Q1 FY2026)
  • Profit Before Tax (PBT): ₹463 Crore (compared to ₹473 Crore in Q1 FY2026)
  • Profit After Tax (PAT): ₹358 Crore (compared to ₹390 Crore in Q1 FY2026)
  • Cargo Handled Volumes: 31 Million Tonnes, up 6% YoY

Balance Sheet Position:

  • Net Cash: ₹2,769 Crore
  • Gross Debt: ₹7,094 Crore
  • Cash and Bank Balance: ₹9,863 Crore

Operational Performance Breakdown

Ports Segment:

  • Operational Revenue: ₹1,208 Crore, up 11% YoY (from ₹1,086 Crore in Q1 FY2026)
  • Volume growth driven by strong performance at Jaigarh Port (higher anchor customer volumes and third-party cargo)
  • Additional contributions from Dharamtar Port, South West Port, Ennore Bulk Terminal, and interim operations at Tuticorin Terminal
  • Partially offset by lower volumes at Fujairah Liquid Terminal due to challenging Middle East operating environment

Logistics Segment (including Navkar Corp and rail rakes business):

  • Revenue from Operations: ₹237 Crore (from ₹138 Crore in Q1 FY2026)
  • Operational EBITDA: ₹73 Crore, up 3.6x YoY (from ₹20 Crore in Q1 FY2026)
  • Growth driven by operating leverage and expanding fleet of rakes

Capacity Expansion and Development Updates

Port Capacity Enhancements:

  • South West Port, Goa: Expanded from 11 MTPA to 12 MTPA
  • Mangalore Container Terminal: Expanded from 4.2 MTPA to 6.0 MTPA

New Project Milestones:

  • Murbe Port, Maharashtra: Secured Environmental Clearance and approval for rail connectivity to Dedicated Freight Corridor (DFC)
  • Kolkata Container Terminal: Commenced interim operations
  • Secured another PPP project at Syama Prasad Mookerjee Port with capacity of ~0.93 million TEUs
  • Total container handling capacity at Kolkata increased to 1.4 million TEUs
  • Arakkonam GCT: Commenced commercial operations, expanding logistics business

Corporate Developments

Fundraising:

  • Completed ₹7,503 crore Qualified Institutional Placement (QIP)
  • Purpose: Growth capital for future expansion and compliance with SEBI's Minimum Public Shareholding (MPS) requirements
  • Attracted marquee global and domestic investors

Credit Rating:

  • Secured Moody's Baa3 (Investment Grade) rating with Stable Outlook
  • Reflects strengthened balance sheet, enhanced liquidity, and improved financial flexibility

Growth Strategy & Financial Guidance

Long-Term Capacity Expansion Plan:

  • Target: Increase cargo handling capacity to 400 Million Tonnes Per Annum (MTPA) by FY2030 or earlier
  • Current capacity: 186 MTPA
  • Capex plan: ₹30,000 crores for ports expansion
  • Additional ₹9,000 crores earmarked for logistics segment expansion
  • Plan includes developing pan-India logistics network building on Navkar acquisition

FY2027 Financial Targets:

  • Consolidated Operating Revenue Target: ₹6,850 crore
  • Operating EBITDA Target: ₹3,000 crore
  • EBITDA expected to grow by ~15% in FY2027 from FY2026 base
  • EBITDA expected to nearly double by FY2028

Growth Drivers:

  • Strong operational momentum
  • Clear visibility on growth projects in Ports business
  • Transition of rolling assets from capex to EBITDA contribution within Logistics segment
  • Strong balance sheet supporting both organic and inorganic growth without compromising leverage ratios