India · Delayed Price · Currency is INR JSW Infrastructure Earnings Call Transcripts
Fiscal Year 2027
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Cargo volumes grew 6% YoY to 31 million tonnes, with India operations up 11% and consolidated revenue rising 18% YoY. EBITDA guidance for FY27 is INR 3,000 crore, supported by strong execution, QIP proceeds, and ongoing expansion in ports and logistics.
Fiscal Year 2026
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Revenue grew 20% YoY to INR 5,361 crore and EBITDA rose 15% to INR 2,604 crore, with strong logistics and port performance despite geopolitical disruptions. FY 2027-28 guidance remains robust, supported by major expansions and a healthy balance sheet.
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Q3 FY2026 saw strong revenue and EBITDA growth, with robust performance in both ports and logistics, major project milestones achieved, and clear guidance for continued expansion and profitability through FY2028. CapEx and cargo volume targets remain on track.
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Cargo volumes grew 4% YoY in H1 FY 2026, with revenue up 23% and EBITDA up 14%. Growth was impacted by weak iron ore exports, but guidance for 8%-10% annual volume growth is maintained. Major greenfield port and logistics expansions are on track, with strong financial discipline and a robust outlook.
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Q1 FY26 delivered 5% cargo volume growth and 19% revenue increase, with strong third-party and logistics performance. Management reaffirmed 10% annual volume growth guidance, supported by robust project execution and a healthy balance sheet.
Fiscal Year 2025
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Cargo handled grew 9% year-on-year to 117 million tons, with revenue up 20% and net profit up 31%. FY 2026 guidance targets 10% port volume growth and 50% logistics revenue growth, supported by ongoing capacity expansions and strategic investments.
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Cargo volumes and revenue grew double digits year-over-year, with third-party cargo mix and high-margin segments like UAE oil tank terminal boosting profitability. Expansion and capex plans target 400 million tons capacity and a robust logistics network by FY30, with strong balance sheet and improving margins.
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Q2 FY25 saw 16% cargo growth and 22% revenue increase, with third-party cargo now 46% of volume. Major expansions and acquisitions are on track, targeting 400 MTPA capacity by FY30, and guidance for 10-12% volume growth is maintained.
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Cargo volumes grew 9% year-over-year to 27.8 million tons, with revenue up 20% and EBITDA up 24%. Third-party cargo now represents 50% of total volumes. Strategic acquisitions and ongoing projects support a 10%-12% full-year volume growth outlook.