JSW Infrastructure reports 18% revenue growth in Q1 FY2027
Cargo volumes rose 6% in Q1 FY2027 as JSW Infrastructure expanded port capacity, grew its logistics business and launched new terminal operations.
JSW Infrastructure reported an 18% year-on-year increase in revenue from operations to ₹14.45 billion for the first quarter of FY2027, while operating EBITDA rose 16% to ₹6.74 billion. During the quarter, the company handled cargo volumes of 31 million tonnes, up 6% from the same period last year. Profit before tax stood at ₹4.63 billion and profit after tax at ₹3.58 billion.
The increase in cargo volumes was driven by strong performance at Jaigarh Port, supported by higher volumes from anchor customers and growing third-party cargo. Dharamtar Port, South West Port, Ennore Bulk Terminal and interim operations at the Tuticorin Terminal also contributed to the growth. However, lower volumes at the Fujairah Liquid Terminal affected overall performance due to challenging operating conditions in the Middle East.
Revenue from the ports business increased 11% year on year to ₹12.08 billion from ₹10.86 billion, supported by higher cargo volumes and a favourable product mix. The logistics business, including Navkar Corp and the rail rakes business, reported strong growth, with revenue rising to ₹2.37 billion from ₹1.38 billion. Operating EBITDA for the logistics segment increased to ₹730 million from ₹200 million during the same period.
During the quarter, the company expanded cargo handling capacity at South West Port in Goa from 11 MTPA to 12 MTPA and at Mangalore Container Terminal from 4.2 MTPA to 6 MTPA. It also secured environmental clearance and approval for Dedicated Freight Corridor rail connectivity for the Murbe Port project in Maharashtra.
JSW Infrastructure also started interim operations at the Kolkata Container Terminal and secured another public-private partnership project at Syama Prasad Mookerjee Port, increasing its total container handling capacity in Kolkata to 1.4 million TEUs. Commercial operations also began at the Arakkonam GCT, expanding the company's logistics business.
The company completed a ₹75.03 billion Qualified Institutional Placement during the quarter, which it said would support future expansion, help meet SEBI's minimum public shareholding requirements and attract global and domestic investors. It also secured Moody's Baa3 investment grade rating with a stable outlook.
JSW Infrastructure's balance sheet remained strong, with net cash of ₹27.69 billion, gross debt of ₹70.94 billion, and cash and bank balances of ₹98.63 billion.
JSW Infrastructure said it remains on track to increase its cargo handling capacity from the current 186 MTPA to 400 MTPA by FY2030 or earlier. The company has planned capital expenditure of ₹300.00 billion for port expansion and earmarked another ₹90.00 billion to strengthen its logistics business. For FY2027, it is targeting consolidated operating revenue of ₹68.50 billion and operating EBITDA of ₹30 billion.
