Navkar Corporation Ltd Company Summary

Navkar Corporation Ltd Summary

Navkar Corporation Limited is one of Indias largest Container Freight Stations (CFSs) and Inland Container Depots (ICDs), Rail Terminals, Container Train Operator, Warehousing and other Logistics Solution providers. The Company provide a wide range of customised, technology-enabled integrated logistics solutions and corporate mobility services. Their strength lies in wide bouquet of offerings through extensive network of strategically located warehouses and transportation network. As on March 31, 2023 the company has three Container Freight Stations, two at Ajivali and one at Somathane in Panvel with aggregate installed capacity of over 5,35,000 TEUs per annum.The company can handle cargo at controlled temperatures at its temperature controlled chamber and through the 92 Reefer plug points at its CFSs. The company is also certified to handle hazardous cargo at the Ajivali CFS II and the Somathane CFS. The Company provides cargo storage facilities at its CFSs which include a buffer yard and warehouses for the storage of cargo. The company also offers services such as packing, labelling/bar-coding, palletizing, fumigation and other related activities at the warehouses and also customize the offerings to the customers. The companys warehouses are spread over an aggregate area of 500,000 sq. ft., which includes a bonded warehouse of 60,782 sq. ft. and an area of 118,000 sq. ft. designated for the consolidation of less than container load (LCL) containers. The companys CFSs also have a customs facility for the examination and clearing of cargo and Somathane CFS has a unit for the inspection and approval of agricultural cargo set up by the plant and quarantine authorities of the Ministry of Agriculture, Government of India. The company also provides services for the repair and maintenance of containers and the storage of empty containers at its CFSs.Navkars Inland Container Depot (ICD) is located at Tumb, Near Vapi in the state of Gujarat in close proximity of Industrial belt. Navkar has a rail capacity of 3 operational lines.Navkar Corporation Ltd was formed pursuant to the conversion of a partnership firm, M/s Navkar Infra and Logistics Corporation, into a joint stock company under Part IX of the Companies Act, 1956. The Partnership Firm was constituted by a partnership deed dated July 7, 2007. In financial year 2008, the partners of the Partnership Firm passed a resolution dated July 1, 2008 to carry out the business of the Partnership Firm through a company limited by shares. Pursuant to the partnership deed, upon the conversion of the Partnership Firm into a joint stock company consequently, the company was incorporated as Navkar Corporation Limited on September 29, 2008 as a public limited and joint stock company under Part IX of Companies Act, 1956 with the RoC. The Company received the certificate for commencement of business on September 30, 2008.Navkar Corporation completed its Initial Public Offering (IPO) pursuant to which 3,29,03,225 equity shares of the Company of Rs. 10 each were allotted at a price of Rs. 155 per equity share. The IPO was open for subscription during the period from 24 to 26 August 2015. The equity shares of the Company were listed on BSE Limited and The National Stock Exchange of India Limited on September 9, 2015.During the financial year ended 31 March 2016, the companys subsidiary Navkar Terminals Limited (NTL) made significant progress in its project of developing an Inland Container Depot (ICD) adjacent to the proposed logistics park of the company near Vapi, Gujarat.During the financial year ended 31 March 2017, the company started Inland Container Depot (ICD) operations at Vapi with an approximate installed capacity of 5,00,000 TEUs per annum.Navkar Corporation successfully raised Rs 144,77,41,914 through Qualified Institutional Placement (QIP) in October, 2017 by issuing 79,11,158 Equity Shares (Face Value Rs. 10/- each) at the price of Rs. 183/- each.The erstwhile Navkar Terminals Limited (NTL) was amalgamated with the Company in 2018-19 and the Scheme became effective from May 11, 2018. In terms of consideration, the Company issued and allotted 99,790, 6% Cumulative Redeemable Preference Shares of Rs 100/- each, to Preference Shareholders of Navkar Terminals Limited.The Private Freight Terminal was made operational at Tumb in Gujarat in 2018-19. The Inland Container Depot (ICD) of the Company commenced operations at Taluka Maliya in Morbi Dist. effective from March 01, 2023. The Company sold the business undertaking under the ICD operation at Tumb Village, in Gujarat as a going concern through Slump Sale to Adani Forwarding Agents Private Limited in 2023.