Please find enclosed transcript of the earnings call

INFRASTRUCTURE LTD. Regd. Office: JSW Centre, Bandra Kurla Complex, Bandra (East) Mumbai – 400 051. Phone : 022-42861000 Fax : 022-42863000 CIN: L45200MH2006PLC161268 Website: www.jswinfrastructure.in Email id: infra.secretarial@jsw.in 30th October, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejebhoy Towers “Exchange Plaza” Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400051 Scrip Code (BSE): 543994 Symbol: JSWINFRA Sub: Transcript of the Q2 FY27 Earnings Conference Call held on 27th October, 2026 - Disclosure under Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Dear Sir/Ma’am, Pursuant to Regulation 30(6) read with Schedule III and Regulation 46 of the Listing Regulations, please find enclosed the Transcript of Q2 FY27 Earnings Conference Call conducted on 27th October, 2026, and the same is also hosted on the Company’s website at: https://www.jswinfrastructure.in/investors/quarterly-results/ The above is for your information and records. Thanking you, Yours sincerely, For JSW Infrastructure Limited Hitesh Kanani Company Secretary and Compliance Officer Membership No. F6188 Encls.: as above India International Exchange (IFSC) Limited Unit No. 101, 1st Floor, Signature Building No. 13B, Road 1C Zone 1, Gift SEZ, Gift City Gandhinagar- 382355 Scrip code (India INX): 1100026 “JSW Infrastructure Limited Q2 FY27 Earnings Conference Call” October 27, 2026 MANAGEMENT: MR. RINKESH ROY – JOINT MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – JSW INFRASTRUCTURE LIMITED MR. NAGARAJAN J – CHIEF FINANCIAL OFFICER – JSW INFRASTRUCTURE LIMITED MR. VISHESH PACHNANDA – HEAD INVESTOR RELATIONS – JSW INFRASTRUCTURE LIMITED MODERATOR: MR. VEENIT PASAD – INVESTEC CAPITAL SERVICES Page 1 of 16 JSW Infrastructure Limited October 27, 2026 Disclaimer: This transcript is provided without express or implied warranties of any kind, and should be read in conjunction with the accompanying materials published by the company. The information contained in the transcript is a textual representation of the company's event and while efforts are made to provide an accurate transcription, there may be material errors, omissions, or inaccuracies in the reporting of the substance of the event. The transcript has been edited wherever required for clarity, correctness of data or transcription error. This document may contain “forward-looking statements” - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements. Moderator: Ladies and gentlemen, good day, and welcome to JSW Infrastructure Q2 FY27 Earnings Conference Call hosted by Investec Capital Services Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Veenit Pasad from Investec Capital Services. Thank you, and over to you, sir. Veenit Pasad: Thank you. Good evening, everyone. A warm welcome on behalf of Investec India to the Q2 FY27 earnings call of JSW Infrastructure Limited. We have with us the Senior Management team from the company represented by; Mr. Rinkesh Roy, Joint MD and CEO; Mr. Nagarajan, CFO; and Mr. Vishesh Pachnanda, Head Investor Relations. Now I'll hand over the call to senior management for their opening remarks, post which we'll open the floor for Q&A. Thank you, and over to you, sir. Rinkesh Roy: Thank you, Veenit. Good evening, everyone and thank you for joining us for our earnings call to discuss our performance for the quarter and half year ended September 30th, 2026. The global operating environment continues to remain dynamic, shaped by geopolitical developments, evolving trade flows and periodic supply chain disruptions. Despite these uncertainties, India's economic fundamentals remain strong, supported by robust domestic demand, continued investments in infrastructure, manufacturing-led growth and favorable policy initiatives. As India's logistics and trade ecosystem continues to evolve, we believe the long-term opportunity for integrated ports and logistics infrastructure remains highly compelling. Against this backdrop, JSW Infrastructure delivered another period of healthy operational performance and strategic progress during the first half of FY27. During H1 FY27, we handled 60.5 million tonnes of cargo, including 29.4 million tonnes in Q2, and our India operations grew 10% year-on-year, significantly ahead of industry growth of 5%, driven by a diversified cargo mix, deeper customer engagement and increasing third-party cargo volumes. The resilience of our operating model and the strategic positioning of our assets enabled us to maintain strong momentum across our network. In our India operations, third-party volumes reached 28.1 million tonnes, registering growth of 11% year-on-year, despite a decline of 1% due to the nil contribution from Fujairah Liquid Terminal. Page 2 of 16 JSW Infrastructure Limited October 27, 2026 A key pillar of our growth strategy continues to be logistics, where we are rapidly building a pan-India integrated platform. Navkar Corporation delivered another strong performance during the period, with domestic cargo volumes growing 26% year-on-year and EXIM cargo volumes increasing 7% year-on-year in H1 '27. We also continued to strengthen our logistics platform during the period. Our rail rake fleet expanded from 42 rakes in Q1 FY27 to 78 rakes currently, reflecting the rapid scale-up of our logistics business. We remain on track to further increase the fleet to at least 110 rakes by March '27. The logistics business continues to benefit from increased network utilization and customer additions. Overall, on a consolidated basis, our operating revenue was INR2,926 crores for the first half of FY27, representing 18% year-on-year growth. Operating EBITDA for the period stood at INR1,348 crores, marking a 13% increase, while net profit reached INR686 crores. Turning to project execution during the quarter, we continued to make steady progress across our development pipeline. Execution remains on track across all major projects, with the slurry pipeline project reaching a significant milestone through the completion of approximately 257 kilometers of pipeline lowering and another 10 kilometers of HDD pipelines in progress, equivalent to nearly 88% of the total scope. The project remains on schedule for commissioning by March '27. At Jatadhar Port, Odisha, construction activities are progressing at a healthy pace. Our brownfield expansion projects are also progressing steadily. At Dharamtar Port and Jaigarh Port, the berth side works are substantially completed and mechanization works are expected to be completed during Q1 FY28 for Jaigarh, while Dharamtar will be completed by Q4 '27. These investments will further enhance capacity, improve operational efficiencies and support future cargo growth. In the container cargo segment, we achieved a key milestone by signing the 30-year concession agreement for the 13 million ton per annum Outer Container Terminal project at NSD Dock, Kolkata. Once operational, the project will increase our total container handling capacity in Ko [Showing first 8,000 characters — download PDF for full document]