JSW Infrastructure earnings calls.

JSW Infrastructure delivered a solid Q3 FY2026 with consolidated revenue of INR 1,350 croresCurrent reported value: INR 1,350 crores. No comparable prior figure is available in the source record. (+14Current 14 crore vs previous available quarter 20 crore.% YoY) and EBITDA of INR 644 croresCurrent ₹644 crore vs previous available quarter ₹2,615 crore. (+10% YoY), though margin compression of ~181 bps occurred due to lower-margin interim operations from JNPA and Tuticorin terminals, compounded by one-time maintenance costs (INR 17 crores) at Jaigarh and Paradip Coal. Cargo volumes grew 8% to 31.7 MMT, driven by Goa, Dharamtar, and overseas operations, offset partially by Paradip weakness. The INR 1,212 crore rail acquisitionCurrent reported value: INR 1,212 crore rail acquisition. No comparable prior figure is available in the source record. (25 rakesCurrent 25 rakes. Reported change: +3 rakes in Q4., 100% equity) closed this quarter, providing immediate access to GPWIS/LSFTO schemes and positioning the logistics business for substantial EBITDA contribution. Management guided FY2026 revenue of INR 5,400 croresCurrent reported value: INR 5,400 crores. No comparable prior figure is available in the source record. with EBITDA doubling by FY2028 from the FY2026 base. Key project execution (slurry pipeline by March 2027, Jatadhar Port) remains on track. Risks include macro-driven Paradip iron ore volume recovery and incremental margin dilution as new terminals scale up.