JSW Infrastructure Limited Earnings Summary — Q4 FY2026

• Revenue reached an all-time quarterly high of ₹1,522 crore in Q4 FY2026.
• The 5-year sales CAGR remains strong at 27%, driven by both captive and third-party cargo.
• Operating margins recovered to 51% in the latest quarter, showing resilience against rising expenses.
• Net profit saw a YoY decline from ₹516 crore to ₹424 crore due to significantly higher interest costs (₹130 crore vs ₹8 crore).
• Capital Work in Progress (CWIP) surged to ₹3,147 crore, indicating massive ongoing investment in port capacity.
• Borrowings increased to ₹6,899 crore to fund the aggressive expansion toward the 300 MTPA 2030 goal.
• The segment mix is successfully shifting toward non-captive third-party business for better diversification.

Management is committed to a 'Port-led development' strategy with a clear vision to reach 300 MTPA capacity by 2030 through organic and inorganic growth.

Stable

While net profit is impacted by the front-loading of interest costs for new projects, the underlying revenue growth and operational scaling remain robust.

The company is in an intensive investment phase with negative free cash flow in FY26 due to ₹2,489 crore in capex. Long-term prospects are bolstered by high institutional rigour and a 41% 5-year profit CAGR.