JSW Infra delivered strong Q3 & 9M FY26 results. Q3 revenue jumped 14% YoY to ₹1,350 Cr, and Profit After Tax (PAT) rose 9% to ₹365 Cr. For 9M, revenue hit ₹3,839 Cr (+20% YoY) and PAT reached ₹1,123 Cr (+12% YoY). Cargo volumes grew 8% YoY in Q3 to 31.7 MT, boosted by key port operations and a 45% surge in Navkar Corp's domestic logistics.
The company is strategically expanding, aiming for 400 MTPA capacity by FY30. This includes a significant US$419 million greenfield port in Oman (27 MTPA by H1 CY29) and a ₹1,212 Cr acquisition of a rail rakes business, enhancing its logistics network. JSW Infra also secured a Gati Shakti Multi-Modal Cargo Terminal project.
Operating EBITDA for Q3 was ₹644 Cr (+10% YoY) and ₹1,835 Cr (+13% YoY) for 9M. A healthy Net Debt/Op EBITDA (TTM) of 0.76x reflects a strong balance sheet. Management forecasts robust growth, targeting ₹11,650 Cr Operating Revenue and ₹5,000 Cr Operating EBITDA by FY28. The Oman project is expected to add stable cashflows and the rail deal is seen as EPS accretive.