New Delhi: JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s second-largest private commercial port operator and fast-growing logistics platform, today announced its results for the quarter ended 30th June 2026.
Q1 FY2027 – Key Highlights
- Cargo Handled Volumes of 31 Million Tonnes, up 6% YoY
- Revenue from operations increased by 18% YoY to ₹1,445 Crore
- Operating EBITDA of ₹674 Crore an increase of 16% YoY
- PBT of ₹463 Crore and PAT of ₹358 Crore
- Strong Balance Sheet
- Net Cash of ₹2,769 Crore, Gross Debt of ₹7,094 Crore and Cash and Bank balance of ₹9,863 Crore
- Q1 FY2027 – Key Updates
- Expanded cargo handling capacity at South West Port, Goa from 11 MTPA to 12 MTPA and Mangalore Container Terminal from 2 MTPA to 6.0 MTPA
- Secured Environmental Clearance and approval for rail connectivity to the Dedicated Freight Corridor (DFC) for Murbe Port in Maharashtra, marking a key development milestone
- Commenced interim operations at the Kolkata Container Terminal and secured another PPP project at Syama Prasad Mookerjee Port with a capacity of ~0.93 million TEUs (Twenty-foot Equivalent Units), increasing total container handling capacity at Kolkata to 1.4 million TEUs.
- Commenced commercial operations at the Arakkonam GCT expanding logistics
- Completed a landmark ₹7,503 crore Qualified Institutional Placement (QIP), securing growth capitalfor future expansion, facilitating compliance with SEBI’s Minimum Public Shareholding (MPS) requirements, and attracting marquee global and domestic
- Secured Moody’s Baa3 (Investment Grade) rating with a Stable Outlook, reflecting a strengthened balance sheet, enhanced liquidity and improved financial flexibility to support future growth.
- Operational & Consolidated Financial Performance
During the quarter, the Company handled cargo volumes of 31 million tonnes which is higher by 6% over the last year.
The volume increase was mainly due to strong performance at Jaigarh Port, led by higher anchor customer volumes and increasing third-party cargo throughput from newer cargo segments. Further contributed byrobust performance at Dharamtar Port, South West Port and Ennore Bulk Terminal, along with contributions from interim operations at the Tuticorin Terminal. This growth was partially offset by lower volumes at theFujairah Liquid Terminal due to a challenging operating environment in the Middle East.
Operational revenue for the ports segment increased by 11% during the quarter to ₹1,208 crore, compared with ₹1,086 crore in Q1 FY2026. The revenue increase was driven by volume growth and a favorable product mix.
Logistics segment including Navkar Corp and the rail rakes business, delivered strong growth during the quarter. Revenue from operations increased to ₹237 crore from ₹138 crore in Q1 FY2026, while Operational EBITDA rose 3.6x to ₹73 crore from ₹20 crore, reflecting operating leverage and contribution from the expanding fleet of rakes.
Driven by higher port volumes and continued momentum in the logistics segment, consolidated operating revenue increased 18% to ₹1,445 crore from ₹1,224 crore in Q1 FY2026. Operational EBITDA grew 16% to₹674 crore compared to ₹581 crore in the corresponding quarter last year.
Profit Before Tax (PBT) stood at ₹463 crore compared with ₹473 crore in Q1 FY2026, primarily due to lower other income as surplus funds were deployed towards ongoing growth capex. Profit After Tax (PAT) was ₹358 crore versus ₹390 crore in the previous year, reflecting lower PBT and a higher effective tax rate during the quarter.
Growth Strategy & Guidance
As previously announced the Company has embarked on a growth plan to increase its cargo handling capacity to 400 Million Tonnes Per Annum (MTPA) by FY 2030 or earlier, up from the current capacity of 186 MTPA. To achieve this, it has outlined a comprehensive capital expenditure (capex) plan of ₹30,000 crores. Additionally, the Company has earmarked ₹9,000 crores for expanding its logistics segment. This expansion aims to build on the Navkar acquisition to develop a robust pan-India logistics network. With a strong balance sheet, the Company is well-positioned to pursue both organic and inorganic growth without compromising its leverage ratios.
The Company is targeting consolidated operating revenue of ₹6,850 crore and operating EBITDA of ₹3,000 crore for FY2027. Building on FY2026 base, EBITDA is expected to grow by~15% in FY2027 and nearly double by FY2028. This outlook reflects strong operational momentum, clearvisibility on growth projects in the Ports business, and the transition of rolling assets from capex to EBITDA contribution within the Logistics segment.
