JSW Infrastructure Ltd.

•

jsw.inBSE: 543994NSE: JSWINFRA

Market Cap₹ 79,931 Cr.

Current Price

High / Low₹ 356 / 233

Stock P/E53.8

Book Value₹ 76

Price to Book4.65

Dividend Yield0.26 %

ROCE14.3 %

ROE15.2 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Port Operation: 86.7% • Logistic Operation: 13.3%

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 40.3% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 27.3% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.40x)
Working capital cycle has improved - days down from 226 to 168
Institutional investors have been accumulating - FII+DII up 10.9pp

CONS

Promoter holding has decreased over last 2 years: -11.7pp
Recent results are weak - TTM profit is down 16.3% versus prior year
Total debt has risen sharply - up 37.6% year on year
Equity base is being diluted - shares outstanding up 16.0%
Operating margins have contracted to 48.4% from 56.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesLogisticsPort

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY TOTAL MKT NIFTY 500

S.No.	Name
1.	ADANIPORTS	1765.00	31.01	406648.78	0.42	3649.50	10.24	10820.80	18.57	15.03	60.26
2.	JSWINFRA	343.05	53.82	79930.70	0.26	357.60	-8.21	1444.83	18.06	14.26	46.64
3.	GPPL	161.70	13.99	7817.22	6.43	147.90	41.77	331.77	32.47	29.46	64.86

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	878	85	940	1,096	1,010	1,001	1,182	1,283	1,224	1,266	1,350	1,522	1,445
	340	39	537	574	495	326	754	642	643	661	720	796	1,039
Operating Profit	539	46	404	523	515	676	427	641	581	604	630	726	406
OPM %	61.33%	53.83%	42.93%	47.66%	50.97%	67.47%	36.17%	49.95%	47.49%	47.75%	46.65%	47.68%	28.10%
	40	5	78	104	94	87	83	175	90	107	52	17	57
Interest	71	8	67	75	82	75	97	94	55	99	79	87	102
Depreciation	95	10	108	134	135	134	138	140	143	149	164	158	166
Profit before Tax	412	33	307	417	392	554	276	581	473	463	439	498	463
Tax %	21.89%	22.03%	17.42%	21.15%	24.28%	32.53%	-21.64%	11.31%	17.56%	20.39%	16.92%	14.89%	22.73%
Net Profit	0	0	0	0	297	374	336	516	390	369	365	424	358
	1.78	1.41	1.20	1.62	1.42	1.80	1.59	2.46	1.85	1.74	1.72	2.01	1.65

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	888	998	1,080	1,143	1,604	2,273	3,195	3,763	4,476	5,361	5,582
	378	410	550	524	795	1,164	1,575	1,798	2,218	2,764	3,217
Operating Profit	510	588	530	619	808	1,109	1,620	1,965	2,258	2,597	2,366
OPM %	57.40%	58.90%	49.08%	54.17%	50.40%	48.81%	50.72%	52.21%	50.45%	48.44%	42.38%
	58	77	101	94	107	106	178	269	431	273	233
Interest	90	130	177	277	252	420	596	332	340	383	367
Depreciation	82	157	171	202	271	370	391	436	547	614	636
Profit before Tax	396	377	284	234	393	426	811	1,465	1,803	1,873	1,863
Tax %	21.53%	25.61%	4.18%	16.05%	27.51%	22.43%	7.58%	20.77%	15.61%	17.40%	18.69%
Net Profit	310	281	272	197	285	330	750	1,161	1,521	1,547	1,515
EPS	50.61	46.24	43.87	1.06	1.62	1.81	4.01	5.63	7.25	7.31	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.76%	11.04%	12.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 22%
5 Years:: 27%
3 Years:: 19%

COMPOUNDED PROFIT GROWTH

10 Years:: 21%
5 Years:: 39%
3 Years:: 27%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 9%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 17%
3 Years:: 18%
Last Year:: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	56	60	60	60	60	60	360	410	415	417
Minority Interest	157	192	197	203	197	200	94	205	792	815
	1,771	2,533	2,800	2,441	2,732	3,062	3,393	7,352	9,111	10,360
	1,650	1,886	2,213	3,472	4,559	5,106	4,654	4,752	5,006	6,774
Trade Payables	39	156	7	205	215	275	302	356	349	374
	418	347	498	546	244	378	298	426	797	1,094
Total Liabilities	4,091	5,174	5,775	6,927	8,008	9,081	9,100	13,502	16,470	19,835
	2,730	3,186	3,256	3,948	4,924	6,134	5,975	7,757	9,393	10,431
Capital Work in Progress	374	622	859	750	292	70	45	109	1,859	3,147
	95	28	230	376	296	283	307	244	183	25
	34	50	76	125	99	85	102	112	134	147
	0	0	0	0	0	0	0	677	809	1,058
Cash & Bank	45	328	102	159	265	1,038	1,632	4,090	2,482	2,318
	813	959	1,252	1,567	2,132	1,470	1,040	512	1,610	2,708
Total Assets	4,091	5,174	5,775	6,927	8,008	9,081	9,100	13,502	16,470	19,835

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	701	702	358	295	1,056	1,298	1,978	1,803	2,100	2,021
Cash from Investing	-1,052	-1,098	-495	-379	-1,637	-801	-883	-4,205	-1,697	-2,062
Cash from Financing	387	540	140	226	641	3	-825	2,504	-521	227
	-49	41	-27	106	-6	377	90	102	-118	186

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	85.61	85.62	85.62	85.62	83.62	83.62	83.62	83.62	73.93
	4.15	4.20	4.07	4.75	6.61	7.27	7.10	6.89	11.19
	2.74	2.50	2.73	2.69	2.82	2.54	2.17	2.43	9.19
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	7.49	7.67	7.58	6.93	6.93	6.54	7.08	7.04	5.67

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Bagging/Receiving of orders/contracts

2026-09-11 - Letter of Intent for setting up of an Inland Container Depot at Village Kudathini, Ballari District, Karnataka

2026-09-10

Acquisition

2026-09-10 - JSWINFRA: JSW Infrastructure Limited has informed the Exchange about Acquisition of NCR Rail Infrastructure Limited on implementation of the Resolution Plan under the Insolvency and Bankruptcy Code, 2016.

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - JSW Infrastructure Limited has informed the Exchange about Schedule of Institutional Investors meet

2026-08-31

General Updates

2026-08-31 - JSW Infrastructure Limited has informed the Exchange about change in the role of Non-Executive Director

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - JSW Infrastructure Limited has informed the Exchange about Schedule of meet

2026-08-22

Acquisition

2026-08-22 - JSW Infrastructure Limited has informed the Exchange about Update on Acquisition

2026-08-21

Credit Rating

2026-08-21 - JSW Infrastructure Limited has informed the Exchange about Credit Rating

2026-08-14

Shareholders meeting

2026-08-14 - JSW Infrastructure Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 13, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-13

Shareholders meeting

2026-08-13 - JSW Infrastructure Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 13, 2026

News

Recent coverage and analyst commentary for JSWINFRA

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JSW Infrastructure Ltd.

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Name

ADANIPORTS

1765.00

31.01

406648.78

0.42

3649.50

10.24

10820.80

18.57

15.03

60.26

JSWINFRA

343.05

53.82

79930.70

0.26

357.60

-8.21

1444.83

18.06

14.26

46.64

GPPL

161.70

13.99

7817.22

6.43

147.90

41.77

331.77

32.47

29.46

64.86

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

878

940

1,096

1,010

1,001

1,182

1,283

1,224

1,266

1,350

1,522

1,445

340

537

574

495

326

754

642

643

661

720

796

1,039

Operating Profit

539

404

523

515

676

427

641

581

604

630

726

406

OPM %

61.33%

53.83%

42.93%

47.66%

50.97%

67.47%

36.17%

49.95%

47.49%

47.75%

46.65%

47.68%

28.10%

104

175

107

Interest

102

Depreciation

108

134

135

134

138

140

143

149

164

158

166

Profit before Tax

412

307

417

392

554

276

581

473

463

439

498

463

Tax %

21.89%

22.03%

17.42%

21.15%

24.28%

32.53%

-21.64%

11.31%

17.56%

20.39%

16.92%

14.89%

22.73%

Net Profit

297

374

336

516

390

369

365

424

358

1.78

1.41

1.20

1.62

1.42

1.80

1.59

2.46

1.85

1.74

1.72

2.01

1.65

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

888

998

1,080

1,143

1,604

2,273

3,195

3,763

4,476

5,361

5,582

378

410

550

524

795

1,164

1,575

1,798

2,218

2,764

3,217

Operating Profit

510

588

530

619

808

1,109

1,620

1,965

2,258

2,597

2,366

OPM %

57.40%

58.90%

49.08%

54.17%

50.40%

48.81%

50.72%

52.21%

50.45%

48.44%

42.38%

101

107

106

178

269

431

273

233

Interest

130

177

277

252

420

596

332

340

383

367

Depreciation

157

171

202

271

370

391

436

547

614

636

Profit before Tax

396

377

284

234

393

426

811

1,465

1,803

1,873

1,863

Tax %

21.53%

25.61%

4.18%

16.05%

27.51%

22.43%

7.58%

20.77%

15.61%

17.40%

18.69%

Net Profit

310

281

272

197

285

330

750

1,161

1,521

1,547

1,515

EPS

50.61

46.24

43.87

1.06

1.62

1.81

4.01

5.63

7.25

7.31

—

Dividend Payout %

0.00%

9.76%

11.04%

12.32%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

360

410

415

417

Minority Interest

157

192

197

203

197

200

205

792

815

1,771

2,533

2,800

2,441

2,732

3,062

3,393

7,352

9,111

10,360

1,650

1,886

2,213

3,472

4,559

5,106

4,654

4,752

5,006

6,774

Trade Payables

156

205

215

275

302

356

349

374

418

347

498

546

244

378

298

426

797

1,094

Total Liabilities

4,091

5,174

5,775

6,927

8,008

9,081

9,100

13,502

16,470

19,835

2,730

3,186

3,256

3,948

4,924

6,134

5,975

7,757

9,393

10,431

Capital Work in Progress

374

622

859

750

292

109

1,859

3,147

230

376

296

283

307

244

183

125

102

112

134

147

677

809

1,058

Cash & Bank

328

102

159

265

1,038

1,632

4,090

2,482

2,318

813

959

1,252

1,567

2,132

1,470

1,040

512

1,610

2,708

Total Assets

4,091

5,174

5,775

6,927

8,008

9,081

9,100

13,502

16,470

19,835

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

701

702

358

295

1,056

1,298

1,978

1,803

2,100

2,021

Cash from Investing

-1,052

-1,098

-495

-379

-1,637

-801

-883

-4,205

-1,697

-2,062

Cash from Financing

387

540

140

226

641

-825

2,504

-521

227

-49

-27

106

-6

377

102

-118

186

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

85.61

85.62

83.62

73.93

4.15

4.20

4.07

4.75

6.61

7.27

7.10

6.89

11.19

2.74

2.50

2.73

2.69

2.82

2.54

2.17

2.43

9.19

Government

0.00

7.49

7.67

7.58

6.93

6.54

7.08

7.04

5.67

JSW Infrastructure Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

JSW Infrastructure Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI