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Navkar Corporation Q2 FY27 results: net profit up 170.6% to ₹11.77 crore, revenue up 37.4%
Navkar Corporation Limited reported standalone revenue of ₹223.20 crore in Q2 FY27, up 37.4% from Q2 FY26, while net profit rose to ₹11.77 crore from ₹4.35 crore. EBITDA increased to ₹33.26 crore, but the EBITDA margin was 14.9%, compared with 17.4% in Q1 FY27.
Key points
- Standalone Q2 FY27 revenue was ₹223.20 crore, up 37.4% from Q2 FY26 and 17.0% from Q1 FY27.
- EBITDA was ₹33.26 crore in Q2 FY27, up 36.4% from Q2 FY26 and 0.4% from Q1 FY27; the EBITDA margin was 14.9%.
- Net profit was ₹11.77 crore in Q2 FY27, compared with ₹4.35 crore in Q2 FY26 and ₹12.28 crore in Q1 FY27; basic EPS was ₹0.78.
- For H1 FY27, revenue was ₹413.95 crore, up 37.6% from H1 FY26, while net profit was ₹24.05 crore, up 253.7%.
- Total assets were ₹2405.04 crore at 30 September 2026, borrowings were ₹117.55 crore and cash was ₹10.76 crore.
How did Navkar Corporation perform in Q2 FY27?
Navkar Corporation reported standalone revenue of ₹223.20 crore in Q2 FY27, up ₹60.81 crore or 37.4% from Q2 FY26. Total income was ₹227.69 crore, up ₹65.06 crore or 40.0%, while EBITDA rose ₹8.87 crore or 36.4% to ₹33.26 crore. The EBITDA margin was 14.9%, compared with 15.0% in Q2 FY26.
Against Q1 FY27, revenue increased ₹32.45 crore or 17.0% to ₹223.20 crore, but EBITDA was nearly unchanged at ₹33.26 crore after rising ₹0.12 crore or 0.4%. The margin fell 2.5 percentage points to 14.9%. Profit before tax declined ₹0.75 crore or 4.6% to ₹15.67 crore, and net profit declined ₹0.51 crore or 4.2% to ₹11.77 crore.
Basic EPS was ₹0.78 in Q2 FY27, compared with ₹0.29 in Q2 FY26 and ₹0.82 in Q1 FY27. The quarter and half-year results were approved by the board on 23 October 2026, with the limited review report also considered; the figures are presented on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 223.20 | 190.75 | 162.39 | +37.4% | +17.0% |
| Other income | 4.49 | 1.55 | 0.24 | +1770.8% | +189.7% |
| Total expenses | 212.02 | 175.88 | 156.05 | +35.9% | +20.5% |
| EBITDA | 33.26 | 33.14 | 24.39 | +36.4% | +0.4% |
| EBITDA margin | 14.9% | 17.4% | 15.0% | −0.1 pp | −2.5 pp |
| Profit before tax | 15.67 | 16.42 | 6.58 | +138.1% | −4.6% |
| Tax | 3.90 | 4.14 | 2.23 | +74.9% | −5.8% |
| Net profit | 11.77 | 12.28 | 4.35 | +170.6% | −4.2% |
| EPS (₹) | 0.78 | 0.82 | 0.29 | +169.0% | −4.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Navkar Corporation's costs and profit?
Total expenses rose ₹55.97 crore or 35.9% from Q2 FY26 to ₹212.02 crore. Other expenses increased ₹51.24 crore or 40.6% to ₹177.33 crore, while depreciation and amortisation rose ₹3.07 crore or 21.7% to ₹17.22 crore. Employee benefit expenses increased ₹0.70 crore or 5.9% to ₹12.61 crore, and finance costs rose ₹0.96 crore or 24.6% to ₹4.86 crore.
Other income increased ₹4.25 crore from ₹0.24 crore in Q2 FY26 to ₹4.49 crore in Q2 FY27. There was no exceptional item. Tax expense was ₹3.90 crore, up ₹1.67 crore or 74.9% from Q2 FY26, while profit before tax rose ₹9.09 crore or 138.1% and net profit rose ₹7.42 crore or 170.6%.
The filing gives the movements in cost lines and other income but does not state why the changes occurred. Against Q1 FY27, other expenses increased ₹33.26 crore or 23.1%, depreciation rose ₹2.18 crore or 14.5% and finance costs rose ₹1.63 crore or 50.5%, while employee benefit expenses fell ₹0.93 crore or 6.9%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 12.61 | 11.91 | +0.70 | +5.9% |
| Finance costs | 4.86 | 3.90 | +0.96 | +24.6% |
| Depreciation | 17.22 | 14.15 | +3.07 | +21.7% |
| Other expenses | 177.33 | 126.09 | +51.24 | +40.6% |
| Total expenses | 212.02 | 156.05 | +55.97 | +35.9% |
| Other income | 4.49 | 0.24 | +4.25 | +1770.8% |
| Tax | 3.90 | 2.23 | +1.67 | +74.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹413.95 crore, up ₹113.1 crore or 37.6% from H1 FY26, while total income was ₹419.98 crore, up ₹118.32 crore or 39.2%. Profit before tax increased ₹21.71 crore or 209.2% to ₹32.09 crore, and net profit increased ₹17.25 crore or 253.7% to ₹24.05 crore.
Basic EPS for H1 FY27 was ₹1.60, compared with ₹0.45 in H1 FY26. The half-year figures cover the six months ended 30 September 2026 and are based on the unaudited results approved by the board.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 413.95 | 300.85 | +37.6% |
| Profit before tax | 32.09 | 10.38 | +209.2% |
| Net profit | 24.05 | 6.80 | +253.7% |
| EPS (₹) | 1.60 | 0.45 | +255.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2405.04 crore, compared with ₹2210.38 crore at 31 March 2026. Total equity was ₹1982.14 crore, against ₹1957.95 crore, while borrowings fell to ₹117.55 crore from ₹168.5 crore and cash declined to ₹10.76 crore from ₹14.75 crore.
Inventories were ₹7.47 crore at 30 September 2026, compared with ₹4.51 crore at 31 March 2026. Trade receivables rose to ₹207.75 crore from ₹178.06 crore, and trade payables increased to ₹66.09 crore from ₹44.57 crore.
Net cash generated from operating activities in H1 FY27 was ₹57.52 crore, compared with ₹28.65 crore in H1 FY26. Net cash from investing activities was ₹2.1 crore, against a net outflow of ₹30.33 crore, while financing activities used ₹63.62 crore, compared with an inflow of ₹0.03 crore. Capital expenditure was ₹12.81 crore, compared with ₹31.56 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,405 | 2,210 |
| Total equity | 1,982 | 1,958 |
| Borrowings | 117.55 | 168.50 |
| Cash and equivalents | 10.76 | 14.75 |
| Inventories | 7.47 | 4.51 |
| Trade receivables | 207.75 | 178.06 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 57.52 | 28.65 |
| Cash from investing | 2.10 | −30.33 |
| Cash from financing | −63.62 | 0.03 |
| Capital expenditure | 12.81 | 31.56 |
Source: Company's results filing (XBRL).
How has Navkar Corporation done over the last 8 quarters?
Revenue rose year on year in each of the last six quarters, according to the trend data. It increased from ₹129.48 crore in Q3 FY25 to ₹223.20 crore in Q2 FY27, with a lower point of ₹104.27 crore in Q4 FY25.
Net profit moved from a net loss of ₹18.53 crore in Q4 FY25 to ₹11.77 crore in Q2 FY27, with the latest figure below ₹13.98 crore in Q4 FY26 and ₹12.28 crore in Q1 FY27. EBITDA margin peaked at 19.8% in Q4 FY26 and fell to 14.9% in Q2 FY27.
What did Navkar Corporation's management say?
Navkar Corporation said on 30 October 2026 that the transcript of the earnings conference call held on 27 October 2026, conducted by ultimate holding company JSW Infrastructure Limited, was available on the company website. The filing excerpt did not include management’s guidance, priorities, risks, analyst questions or any remarks from the call, so no further management commentary can be reported from the provided material.
How did Navkar Corporation shares react?
After the filing appeared in the market, the stock moved from ₹81.40, down 1.7% after 5 minutes, down 1.4% after 15 minutes and down 2.7% after 30 minutes. On the reaction day, the close was down 7.1% from the previous close of ₹84.00, against a 1.4% median decline for other Logistics Solution Provider stocks.
| After the filing | Stock | Logistics Solution Provider median |
|---|---|---|
| 5 minutes | −1.7% | |
| 15 minutes | −1.4% | |
| 30 minutes | −2.7% | |
| Reaction day | −7.1% | −1.4% |
| Next day | −13.1% | −1.8% |
| 5 days | −11.3% | −1.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 17 July 2026 | −9.9% |
| 20 April 2026 | −3.5% |
| 13 January 2026 | +9.3% |
| 14 October 2025 | +4.6% |
| 17 July 2025 | +13.4% |
| 27 January 2025 | −8.8% |
| 8 October 2024 | +4.9% |
| 9 August 2024 | −3.3% |
Source: MarketPing price-reaction measurement.
How did other Logistics Solution Provider companies do?
Sixteen other Logistics Solution Provider companies had filed for the quarter by 4 November 2026. Their median revenue growth was 12.2%, while 12 peers grew slower than Navkar Corporation and 4 peers grew faster than it.
Among the peers with comparable profit information, 11 reported higher profit. Navkar Corporation’s Q2 FY27 revenue growth of 37.4% was above the peer median revenue growth of 12.2%.
| Navkar Corporation revenue growth (YoY) | +37.4% |
|---|---|
| Median of 16 other Logistics Solution Provider companies | +12.2% |
| Companies with slower revenue growth than Navkar Corporation | 12 of 16 |
| Companies with faster revenue growth than Navkar Corporation | 4 of 16 |
| Companies whose net profit rose | 11 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Navkar Corporation's revenue in Q2 FY27?
Revenue from operations was ₹223.20 crore, up 37.4% from ₹162.39 crore in Q2 FY26 (standalone).
Did Navkar Corporation make a profit in Q2 FY27?
Yes. Net profit was ₹11.77 crore, against a net profit of ₹4.35 crore in Q2 FY26.
What was Navkar Corporation's EPS in Q2 FY27?
Basic earnings per share were ₹0.78, against ₹0.29 in Q2 FY26.
How did Navkar Corporation shares react to the Q2 FY27 results?
On the reaction day the stock moved −7.1% from the previous close; the median Logistics Solution Provider stock moved −1.4%.
When did Navkar Corporation announce its Q2 FY27 results?
On 23 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Results (BSE, 15 October 2026) · PDF
- Outcome of Board Meeting (NSE, 23 October 2026) · PDF
- The earnings call (30 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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