JSW Infrastructure logo

JSW Infrastructure

JSWINFRA NSE

Key Fundamentals

MidcapPort & Port ServicesTransport
Market Cap
₹78,929 Cr
Volatility
Moderate
P/E Ratio
49.66
EBITDA
₹2,950 Cr
Return on Equity
13.23%
Debt to Equity
0.63
Book Value
₹74.83
EPS
₹5.37
52W High
₹355.8
52W Low
₹233.42

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has delivered good profit growth of 40.4% CAGR over last 5 years
  • Company's working capital requirements have reduced from 18.2 days to 10.5 days

Weaknesses

2
  • Stock is trading at 6.62 times its book value
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
18.19% lower than 3Y
Net Income Growth
1.67% lower than 3Y
Cash Flow Change
-3.76% lower than 3Y
ROE
-8.82% lower than 3Y
ROCE
-7.89% higher than 3Y
EBITDA Margin (Avg.)
-4.56% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

JSW Infrastructure Ltd commands a market cap of ₹78,929 Cr with a PE of 52.7x and a price-to-book of 4.58x. The company has delivered strong 5-year profit CAGR of 40% and 5-year sales CAGR of 27%, though TTM profit growth has turned negative at -3% and the stock trades at a significant premium to book value.

Bull Case 7
  • Strong 5-year compounded profit growth of 40% CAGR indicates rapid earnings scaling from a growing port infrastructure base
  • 5-year compounded sales growth of 27% CAGR reflects robust volume ramp-up across port operations
  • TTM sales growth remains healthy at 19%, showing continued top-line momentum even on a larger base
  • 3-year ROE averaging 16% suggests the company generates reasonable returns on shareholder equity for a capital-intensive infrastructure business
  • Working capital days reduced from 18.2 days to 10.5 days, indicating improving operational efficiency and better cash conversion
  • 3-year compounded profit growth of 29% CAGR shows sustained earnings expansion beyond just a single-year spike
  • Dividend yield of 0.26% signals the company has initiated shareholder returns, a positive sign for a growth-stage infrastructure firm
Bear Case 8
  • PE ratio of 52.7x is elevated for an infrastructure company, pricing in significant future growth and leaving limited margin of safety
  • Stock trades at 6.61x book value (PB reported at 4.58x on one measure, 6.61x on another), a steep premium for an asset-heavy port business
  • TTM compounded profit growth has turned negative at -3%, marking a sharp deceleration from the 3-year CAGR of 29%
  • Potential capitalization of interest costs raises accounting quality concerns and may overstate reported profitability and asset values
  • ROE has marginally declined from a 10-year average of 15% to 15% last year, with no acceleration despite aggressive growth, suggesting returns are not improving with scale
  • Debt-to-equity ratio is not disclosed, which is a concern for a capital-intensive port infrastructure business that typically carries significant leverage
  • 1-year stock CAGR of only 9% despite high valuation multiples suggests the market may be re-rating the growth premium downward
  • Dividend yield of just 0.26% offers negligible income cushion for investors paying a 52.7x earnings multiple

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 3h ago
Headwinds 2
  • Q1 profit drops despite revenue rise Sep 10

    Consolidated net profit declined 9.89% to ₹346.63 crore in Q1 FY27 despite an 18.06% revenue increase to ₹1,444.83 crore, signaling margin pressure.

  • NCR Rail acquisition loss-making asset Sep 10

    Acquired NCR Rail Infrastructure for ₹467.47 crore plus ₹41.94 crore for land, but the target recorded revenue of just ₹11.19 crore and a net loss of ₹25.96 crore in FY2026.

Positives 3
  • Khurja freight terminal acquisition Sep 10

    Completed acquisition of NCR Rail's six-line private freight terminal at Khurja, UP — 90 km from Delhi and 40 km from upcoming Jewar Airport — with 130 acres of land and 0.2 mn sq ft warehouse space.

  • First ICD in Ballari approved Sep 11

    Subsidiary JSW Port Logistics received LOI to set up the first Inland Container Depot in Ballari, Karnataka, enhancing inland logistics connectivity and containerised cargo handling.

  • JSW Overseas 100% stake acquired Aug 22

    Executed share purchase agreement to acquire 100% of JSW Overseas FZE from JSW Terminal (Middle East) FZE, subject to regulatory approvals in India and the UAE.

Neutral 3
  • Analyst meets on Sep 16 & 18 Sep 9

    JSW Infrastructure scheduled investor and analyst meetings on September 16 and 18 as part of routine investor relations activities.

  • Elara India Dialogue participation Aug 27

    Company will participate in the Ashwamedh Elara India Dialogue 2026 on September 2 at Grand Hyatt Mumbai with institutional investor sessions.

  • Director exits advisory role Aug 31

    Lalit Singhvi stepped down as advisor and committee member effective August 31, 2026, but continues as Non-Executive Non-Independent Director on the board.

TL;DR: JSW Infrastructure is aggressively expanding its logistics footprint through the NCR Rail acquisition (Khurja freight terminal, 130-acre land bank) and a new ICD in Ballari, while also moving into overseas operations via JSW Overseas FZE. However, margin compression is a concern — Q1 FY27 net profit fell ~10% despite 18% revenue growth, and the acquired NCR Rail is currently loss-making. The strategic positioning near Jewar Airport and Delhi-NCR is promising long-term, but investors should watch for integration execution and whether these acquisitions translate into profitable growth over the next few quarters.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
878
848
940
1,096
1,010
1,001
1,182
1,283
1,224
1,266
1,350
1,522
1,445
Expenses
427
396
460
515
495
481
596
642
643
656
706
753
771
Operating Profit
451
452
480
581
515
521
586
641
581
610
644
769
674
OPM %
51%
53%
51%
53%
51%
52%
50%
50%
47%
48%
48%
51%
47%
Other Income
40
47
78
104
94
87
83
89
90
107
52
17
57
Interest
-16
71
143
134
82
-80
256
8
55
105
93
130
102
Depreciation
95
101
108
134
135
134
138
140
143
149
164
158
166
PBT
412
328
307
417
392
554
276
581
473
463
439
498
463
Tax %
22%
22%
17%
21%
24%
33%
-22%
11%
18%
20%
17%
15%
23%
Net Profit
322
256
254
329
297
374
336
516
390
369
365
424
358
EPS in Rs
1.72
1.21
1.19
1.57
1.39
1.77
1.57
2.43
1.83
1.72
1.71
1.99
1.49
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
888
998
1,080
1,143
1,604
2,273
3,195
3,763
4,476
5,361
5,582
Expenses
377
410
550
524
787
1,164
1,572
1,795
2,214
2,757
2,886
Operating Profit
511
588
530
619
816
1,109
1,623
1,968
2,262
2,604
2,696
OPM %
58%
59%
49%
54%
51%
49%
51%
52%
51%
49%
48%
Other Income
57
77
101
94
75
106
176
266
353
266
233
Interest
90
130
177
277
228
420
596
332
266
383
430
Depreciation
82
157
171
202
271
370
391
436
547
614
636
PBT
396
377
284
234
393
426
811
1,465
1,803
1,873
1,863
Tax %
22%
26%
4%
16%
28%
22%
8%
21%
16%
17%
—
Net Profit
310
281
272
197
285
330
750
1,161
1,521
1,547
1,515
EPS in Rs
54.6
44.09
43.93
31.37
48
54.02
3.97
5.5
7.16
7.25
6.91
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
10%
11%
12%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
56
60
60
60
60
60
360
410
415
417
Reserves
1,798
2,553
2,827
2,488
2,831
3,212
3,635
7,616
9,282
10,460
Borrowings
1,599
1,732
2,051
3,103
3,946
4,740
4,568
4,758
5,042
6,899
Other Liabilities
628
840
762
1,085
1,286
1,165
750
909
2,068
2,439
Total Liabilities
4,082
5,185
5,701
6,736
8,123
9,177
9,312
13,694
16,807
20,215
Fixed Assets
2,730
3,186
3,256
3,948
4,924
6,134
5,975
7,757
9,523
10,527
CWIP
380
633
862
752
1,125
80
46
132
2,020
3,188
Investments
95
28
230
376
296
283
307
244
183
25
Other Assets
877
1,338
1,352
1,660
1,779
2,681
2,985
5,560
5,081
6,474
Total Assets
4,082
5,185
5,701
6,736
8,123
9,177
9,312
13,694
16,807
20,215
Figures in ₹ Crores

Cash Flow

Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
616
600
328
259
990
1,176
1,797
1,803
2,100
2,022
Investing
-1,052
-1,098
-495
-378
-1,637
-801
-883
-4,202
-1,691
-2,062
Financing
387
540
140
226
641
3
-825
2,504
-521
227
Net Cash Flow
-49
41
-27
107
-6
377
90
105
-112
186
Free Cash Flow
-424
-338
-24
-400
-602
669
1,528
1,555
26
-467
CFO/OP
137
119
67
48
129
117
122
104
105
91
Figures in ₹ Crores

Ratios

Particulars Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
82
108
104
160
94
97
46
66
66
72
Cash Conversion Cycle
82
108
104
160
94
97
46
66
66
72
Working Capital Days
-169
-27
181
122
52
63
16
34
10
11
ROCE %
—
12%
9%
9%
10%
11%
17%
16%
14%
14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.41%Promot.73.93%Public4.25%DIIs9.19%FIIs11.21%As ofJun 2026

Documents

Frequently Asked Questions about JSW Infrastructure

What does JSW Infrastructure Ltd do?
JSW Infrastructure Limited provides maritime-related services including, cargo handling, storage solutions, and logistics services.[1]
Where is JSW Infrastructure Ltd (JSWINFRA) listed?
JSW Infrastructure Ltd trades as JSWINFRA on the NSE and under code 543994 on the BSE.
Which sector does JSW Infrastructure Ltd belong to?
JSW Infrastructure Ltd is classified under the Transport sector, in the Port & Port Services industry.
What is the market capitalisation of JSW Infrastructure Ltd?
JSW Infrastructure Ltd has a market capitalisation of ₹78,929 Cr, which places it in the Large Cap band.
What is the PE ratio of JSW Infrastructure Ltd?
JSW Infrastructure Ltd trades at a PE ratio of 49.66, on earnings per share of ₹5.37, against a book value of ₹74.83 per share.
What is the 52-week high and low of JSW Infrastructure Ltd?
Over the last 52 weeks JSW Infrastructure Ltd has traded between ₹233.42 and ₹355.8.
Does JSW Infrastructure Ltd pay dividends?
JSW Infrastructure Ltd has a dividend yield of 0.26%.
What is the Return on Equity (ROE) of JSW Infrastructure Ltd?
JSW Infrastructure Ltd reported a return on equity of 13.23%. Its debt-to-equity ratio is 0.63.

Company Information

JSW Infrastructure Limited provides maritime-related services including, cargo handling, storage solutions, and logistics services.[1]

Website jsw.in/infrastructure
Listed 2023-10-03
Face Value ₹ 2
Issued Size 2,10,00,01,567

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