Q2 2026 JSW Infrastructure Ltd And Navkar Corporation Ltd Earnings Call Transcript
Key Points
- JSW Infrastructure Ltd (BOM:543994) reported a 23% year-on-year growth in total revenue for the first half of FY26, reaching INR 2,686 crore.
- The company achieved a significant milestone with the successful public hearings for greenfield port projects in Karnataka and Maharashtra, paving the way for construction activities.
- JSW Infrastructure Ltd (BOM:543994) is actively expanding its cargo handling capacity, aiming to increase from 177 million tons per annum to 400 million tons per annum by 2030.
- The logistics business is set to grow with the acquisition of a brownfield rail siding in Karnataka, transforming it into a multimodal logistics park.
- The company received an investment-grade rating upgrade to BBB- from BB+ by S&P Global Ratings and Fitch Ratings, reflecting strong financial fundamentals and capital management.
- Cargo volumes at the Paradeep iron ore terminal were significantly impacted by weak seaborne iron ore export market conditions, resulting in a 2.1 million tons shortfall.
- The company's overall growth was moderated by challenging macroeconomic conditions in the iron ore export market, affecting potential growth rates.
- Despite a 4% year-on-year growth in cargo handled, the company faced subdued cargo volumes at certain terminals, impacting overall performance.
- The iron ore pipeline project experienced slower progress due to monsoon-related delays, with only 5 kilometers of pipeline laid during the quarter.
- The company's EBITDA margin was affected by the inclusion of Navkar Corporation, which typically has lower margins compared to the port business.
Ladies and gentlemen, good day and welcome to the JSW Infrastructure Limited Q2 FY26 earnings conference call hosted by Mohila Loswal Financial Services Limited.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Alok Pehra from Motilal Oswal Financial Services Limited.
Thank you and over to you, sir.
Thank you and good evening everyone and welcome to the Toku FY26 earnings call of JSW Infrastructure. We have with us today Mr. Rinkesh Roy, joint managing director and CEO, Mr. Lalit Singh, strategic advisor and board member, Mr. Nagarajan Jay is Chief Financial Officer, and Mr. Vish, Punchan, the head of investor relations. I will now hand over the call to the management to provide some opening remarks, and then we can, proceed to the Q&A.
Thank you and over to you, sir.
Thank you a lot.
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