JSW Infrastructure (JSWINFRA) Q4 25/26 earnings summary

Executive summary

• Consolidated operating revenue for FY 2026 was ₹5,361 crore, up 20% YoY, with operating EBITDA at ₹2,604 crore (+15%) and adjusted net profit at ₹1,644 crore.

• Total cargo handled reached 122 MT in FY26, up 4% YoY, with third-party cargo at 48%.

• Board recommended a dividend of ₹0.90 per share (45% of face value).

• Audited standalone and consolidated financial results for FY 2025-26 were approved, with unmodified audit opinions issued by the statutory auditors.

• Major project milestones include completion of JNPA Liquid Terminal, progress on greenfield ports, and expansion in logistics.

Financial highlights

• Q4 FY26 consolidated operational revenue: ₹1,522 crore (+19% YoY); operating EBITDA: ₹769 crore (+20% YoY).

• Adjusted PAT for Q4 FY26: ₹528 crore (+15% YoY); adjusted PBT at ₹614 crore (+24% YoY).

• FY26 adjusted PAT was ₹1,644 crore, up 12% YoY; adjusted PBT at ₹1,979 crore, up 15% YoY.

• Net debt as of March 2026: ₹3,100 crore; net debt/EBITDA: 1.2x.

• Net worth increased 13% YoY to ₹10,510 crore; ROCE improved to 14.4%.

Outlook and guidance

• FY27 and FY28 consolidated revenue guidance: ₹6,850 crore and ₹8,000 crore, respectively.

• FY28 consolidated EBITDA targeted at ₹4,300 crore; logistics revenue and EBITDA expected to reach ₹3,000 crore and ₹700 crore by FY28.

• CapEx planned for FY 2027-28: ₹16,500 crore (₹13,000 crore for ports, ₹3,500 crore for logistics).

• Targeting cargo handling capacity of 400 million tons and logistics topline of ₹8,000 crore by FY 2030.

• Post-2030, aiming for 25% CAGR growth, leveraging brownfield expansions and new concessions.