JSW Infrastructure, India’s second-largest private port operator and part of the JSW Group, reported a strong 26 per cent year-on-year increase in total revenue to ₹1,372 crore for the quarter ended September 2025 (Q2 FY26), driven by higher cargo volumes and continued growth in its logistics business. Operational revenue also rose 26 per cent to ₹1,266 crore. Consolidated EBITDA grew 18 per cent year-on-year to ₹716 crore, while profit after tax stood at ₹369 crore. The company maintained a healthy financial position with a net debt-to-operating EBITDA ratio of 0.75x and cash and cash equivalents of ₹3,088 crore.
During the quarter, JSW Infra handled 28.9 million tonnes (MT) of cargo, a 3 per cent increase over the previous year. Strong performance at South West Port, Jaigarh Port and Dharamtar Port supported growth, although a 2.1 MT shortfall at its Paradip Iron Ore terminal due to subdued export market conditions slightly tempered overall volumes. Group cargo rose 6 per cent to 15.7 MT, accounting for 54 per cent of total volumes. Operational EBITDA for the port segment increased 12 per cent to ₹585 crore, with margins improving to 53 per cent from 52 per cent a year earlier.
The company’s logistics arm, Navkar Corporation, continued its scale-up trajectory. EXIM cargo handled during the quarter reached 79,000 TEUs, up 20 per cent year-on-year, while domestic cargo increased 46 per cent to 394,000 tonnes, further contributing to the company’s operational growth.
JSW Infra also advanced its expansion and diversification plans. The company completed public hearings for its proposed greenfield ports at Keni in Karnataka and Murbe in Maharashtra, moving both projects closer to approval. It further expanded its logistics footprint with the acquisition of an 86-acre brownfield rail siding at Kudathini, Ballari, Karnataka, for ₹57 crore. This site will be developed into a multi-modal logistics park with container handling systems and a rail freight terminal under a ₹380 crore project expected to commence commercial operations in Q4 FY26. In addition, JSW Infra signed a 30-year concession agreement with Syama Prasad Mookerjee Port Authority to redevelop and mechanise Berths 7 and 8 at the Netaji Subhas Dock in Kolkata, adding 6.3 MTPA of cargo-handling capacity.
Reaffirming its long-term growth roadmap, the company said it plans to expand total cargo-handling capacity to 400 million tonnes per annum (MTPA) by FY2030, up from the current 177 MTPA. This will be supported by a ₹30,000 crore capital expenditure programme for port development and an additional ₹9,000 crore earmarked for scaling its logistics network.
