JSW Infrastructure Posts 20% EBITDA Growth in Q4; Targets 400 MTPA Capacity by 2030
New Delhi, May 9, 2026: JSW Infrastructure Limited, India’s second-largest private commercial port operator, announced a robust financial performance for the fourth quarter and full fiscal year ended March 31, 2026. The company reported a 20% year-on-year increase in Q4 Operating EBITDA, reaching ₹769 crore, while Adjusted Profit After Tax (PAT) for the quarter rose 15% to ₹528 crore. The results were driven by a 19% surge in quarterly revenue, which stood at ₹1,522 crore, supported by strong performances across its domestic port facilities and the successful integration of its logistics segment, it said in a press release.
For the full fiscal year 2026, the company handled a total cargo volume of 122 million tonnes, marking a 4% increase over the previous year. Annual revenue from operations grew by 20% to ₹5,361 crore, while Operating EBITDA reached ₹2,604 crore, a 15% rise that aligns with previous management guidance. In light of these steady results, the Board of Directors has recommended a dividend of ₹0.90 per share. The company maintains a healthy balance sheet with a Net Debt to Operating EBITDA ratio of 1.2x, supported by a cash and bank balance of ₹3,309 crore.
Operational growth during the year was highlighted by several key project milestones, including the completion of the JNPA Liquid Terminal and the successful conclusion of public hearings for proposed greenfield ports at Keni in Karnataka and Murbe in Maharashtra. The company also expanded its logistics footprint by acquiring 25 rakes and placing an order for 40 more, alongside the acquisition of a brownfield rail siding in Kudathini. Environmental and social governance remained a priority, with the firm receiving a “Low Risk” rating from Sustainalytics and an “A-” management level rating from CDP.
Performance in the fourth quarter was particularly bolstered by high activity at South West Port, Dharamtar Port, and Jaigarh Port, though growth was partially tempered by disruptions at the Fujairah facility due to Middle East conflicts and vessel shortages in March. However, management noted that the situation has improved significantly from April 2026 onwards, with vessel availability normalizing and operations stabilizing across ports and terminals. Additionally, Navkar Corporation delivered a strong Q4, with EXIM cargo volumes growing 14% and domestic volumes surging by 56%.
Looking ahead, JSW Infrastructure has outlined an ambitious growth strategy to expand its cargo handling capacity to 400 MTPA by FY 2030, supported by a ₹30,000 crore capital expenditure plan. A further ₹9,000 crore has been earmarked for the logistics segment to develop a pan-India network. For FY2027, the company is targeting consolidated operating revenue of ₹6,850 crore and expects EBITDA to nearly double by FY2028 as new growth projects and logistics assets begin to contribute fully to the bottom line, the press release added.
