JSW Infrast

Q3 FY26Transport Infrastructure

JSW Infrast Q3 FY26 earnings call: Revenue & Margins

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹336

Market cap₹78.2K Cr

P/E50.5

Updated23 Aug 2026

Read4 min read

The short version

FY '26 consolidated revenue expected at INR 5,400 crores with 20% Y-o-Y growth. - FY '27: EBITDA growth of approx. JSW Infrastructure aims to double EBITDA by FY '28 compared to FY '26, reflecting strong earnings growth.

From JSW Infrast's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY '26 consolidated revenue expected at INR 5,400 crores with 20% Y-o-Y growth.
FY '27: EBITDA growth of approx. 15%; FY '28: EBITDA expected to double from FY '26 levels.
FY '28 port cargo volume guidance is conservative at 10 million tonnes initially, with peak potential of 27-28 million tonnes.
Strong ramp-up in port projects including slurry pipeline, Jatadhar port, Jaigarh and Dharamtar expansions expected to contribute significantly by FY '28.
Logistics business EBITDA to grow from INR 450-500 crores in FY '27 to INR 750-800 crores in FY '28.
Logistics revenue target by FY '30 at around INR 8,000 crores; growth drivers include increased terminals (~25), container and LSFTO rakes (~200+), and container acquisitions (8,000-10,000 containers).

2 more points management made on revenue & sales performance

Profitability & Margins

JSW Infrastructure aims to double EBITDA by FY '28 compared to FY '26, reflecting strong earnings growth.
EBITDA growth is expected to be approximately 15% in FY '27 over FY '26.
Logistics business EBITDA projected at INR 450-500 crores in FY '27 and INR 750-800 crores in FY '28.
Consolidated revenue target for FY '27 is INR 5,400 crores with operating EBITDA of INR 2,600 crores.
Major contributors to growth include early completion of port projects, ramping up logistics rolling assets, and efficiency gains.

2 more points management made on profitability & margins

See what JSW Infrast said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

FY '26 capex guidance: INR 3,500 crores (INR 2,000 crores on ports, INR 1,500 crores on logistics).
Projected FY '27-'28 capex: INR 13,000 crores on ports, INR 3,500 crores on logistics.
Some FY '26 capex deferred due to bank guarantees and LCs, but purchase orders have been raised and are on track.
Capex includes acquisitions such as logistics transaction (INR 1,200 crores outflow expected in FY '26).
Ongoing construction and acquisition of CFS/ICDs and container rakes to support logistics business growth.
Participation in Public-Private Partnership (PPP) bids for new terminal projects beyond current 400 million tonne capacity target.

2 more points management made on capital expenditure plans

Top-ranked in Transport Infrastructure

Ranked on what management guided this quarter

5x potential

1Guj Pipavav Port₹7.9K Cr

Rev 2Mar 3

2Anantam Highways₹2.3K Cr

Rev 2Mar 3

3₹338 Cr

Rev 3Mar 1

4₹4.1L Cr

Rev 3Mar 3

5₹21.0K Cr

Rev 3Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The transcript does not explicitly mention any current or planned fundraising through debt or equity. However, relevant points related to funding and capex include: - FY '26 capex expected at INR 3,500 crores (INR 2,000 crores for ports, INR 1,500 crores for logistics), which includes acquisition-related outflows. - FY '27 and '28 combined capex guidance: INR 13,000 crores for ports and INR 3,500 crores for logistics. - Orders placed and purchase orders raised, with some payouts deferred via bank guarantees and letters of credit.

2 more points management made on fundraising & capital structure

See what JSW Infrast said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Aggregate financial commitment across all growth projects (awarded work orders and procurement of materials) is approximately INR 4,000 crores as of December 2025.
Capex spend up to December 2025 has been INR 1,383 crores.
Purchase orders have been raised as planned, but payouts deferred over next 2 years due to bank guarantees and LCs.
Management is focused on early completion of projects to double EBITDA by FY '28.
While current focus is on executing existing projects, the company will continue participating in PPP bids and pursue good opportunities to further expand order book.

2 more points management made on order book & pipeline

JSW Infrast — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.5K Cr, net profit ₹424 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What JSW Infrast's management said in earlier quarters

Others in Transport Infrastructure this season

National Highways Infra Trust (Q3 FY26)
Total revenue from operations Q3 FY25: INR 587 Cr; Q3 FY26: INR 1,104 Cr (88% YoY increase) [Page 12] . Key concall takeaways from National Highways Infra…
Vertis Infra. (Q3 FY26)
Vertis Infrastructure Trust has demonstrated a consistent ~10% year-on-year traffic growth over the past nine months, supported by improved economic activity…
Cube Highways (Q3 FY26)
Strong traffic growth of 9.4% YoY observed recently, supported by sustained increase in passenger car traffic due to rising vehicle sales and disposable…
IRB InvIT Fund (Q3 FY26)
Consistent double-digit traffic growth observed since October, with examples like 18% growth in Jaipur-Deoli and 15-18% growth in other new assets. Key concall…

Compare:vs Adani Ports & Special Economic Zone Ltd vs GMR Airports vs National Highways Infra Trust

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Frequently Asked Questions

What were JSW Infrast Q3 FY26 results?

What is JSW Infrast share price analysis?

JSW Infrast currently shows a neutral. The stock trades at a P/E of 50.5 with a market cap of ₹78,218 Cr. Investors should review the full earnings analysis for detailed insights.

Is JSW Infrast planning capital expenditure?

FY '26 capex guidance: INR 3,500 crores (INR 2,000 crores on ports, INR 1,500 crores on logistics).

Keep JSW Infrast on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.