India · Delayed Price · Currency is INR JSW Infrastructure Earnings Call Transcripts
Fiscal Year 2026
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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 and revenue grew strongly in H1 FY 2026, led by private ports and logistics expansion, despite iron ore headwinds. CapEx and growth guidance remain intact, with robust long-term targets for both port and logistics segments.
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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 strong third-party and logistics contributions. High-margin UAE operations and Navkar acquisition boosted EBITDA, while expansion and asset-light logistics strategies support ambitious FY30 growth targets.
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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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Q1 FY25 saw 9% cargo volume growth and 20% revenue growth, driven by new assets and strong third-party cargo. The Navkar acquisition and ongoing projects support a 10%-12% volume growth outlook, with stable margins and a strong balance sheet.