JSW Infrastructure Ltd.

•

jsw.inBSE: 543994NSE: JSWINFRA

Market Cap₹ 79,558 Cr.

Current Price

High / Low₹ 356 / 233

Stock P/E468.4

Book Value₹ 50

Price to Book9.89

Dividend Yield0.26 %

ROCE8.8 %

ROE3.3 %

Face Value₹ 2

Add ratio to table

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

Working capital cycle has improved - days down from 941 to 550
Institutional investors have been accumulating - FII+DII up 10.9pp

CONS

A large part of profit comes from other income (334.2% of PBT)
Operating cash flow has been negative in recent years
Recent results are weak - TTM profit is down 77.2% versus prior year
Promoter holding has decreased over last 2 years: -11.7pp
Company has a low return on equity of 7.1% over last 3 years
Company has a low return on capital employed of 9.5%

* 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	1771.55	31.13	408157.87	0.42	3649.50	10.24	10820.80	18.57	15.03	60.26
2.	JSWINFRA	341.45	53.56	79557.90	0.26	357.60	-8.21	1444.83	18.06	14.26	46.64
3.	GPPL	158.30	13.70	7652.85	6.57	147.90	41.77	331.77	32.47	29.46	64.86

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	126	120	142	146	141	127	124	128	140	143	164	154	164
	71	116	87	103	82	103	149	91	82	221	149	293	151
Operating Profit	55	4	55	44	58	24	-24	37	58	-78	15	-139	12
OPM %	43.95%	3.51%	38.73%	29.75%	41.42%	19.02%	-19.62%	29.17%	41.38%	-54.37%	9.00%	-90.08%	7.42%
	78	79	128	132	140	238	154	134	95	260	79	152	78
Interest	49	50	54	54	57	54	73	77	67	74	58	61	58
Depreciation	0	0	0	0	0	0	0	1	1	1	2	1	1
Profit before Tax	84	33	129	121	141	207	55	93	84	107	34	-50	90
Tax %	21.42%	30.92%	27.17%	13.76%	30.79%	43.89%	-68.48%	8.86%	13.67%	-11.02%	5.78%	-14.11%	16.80%
Net Profit	66	23	94	105	97	116	93	85	73	119	32	-57	75
	0.37	0.13	0.48	0.50	0.47	0.57	0.44	0.41	0.35	0.57	0.16	-0.11	0.36

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	226	230	271	285	320	473	532	534	520	601	624
	130	134	208	128	164	270	314	330	338	380	814
Operating Profit	96	95	63	156	156	203	218	204	182	220	-190
OPM %	42.33%	41.58%	23.17%	54.92%	48.78%	42.91%	40.98%	38.26%	35.02%	36.69%	-30.40%
	21	34	65	73	50	117	297	416	664	586	569
Interest	47	29	6	67	69	145	460	252	347	624	251
Depreciation	2	2	2	2	2	2	1	2	3	6	6
Profit before Tax	68	98	120	161	135	173	53	367	496	176	182
Tax %	17.32%	27.74%	7.89%	18.14%	26.58%	18.83%	-27.27%	21.75%	21.10%	4.94%	6.78%
Net Profit	57	71	111	132	99	141	67	287	391	168	170
EPS	9.91	12.25	18.25	21.90	16.47	0.78	0.36	1.40	1.89	0.80	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	39.29%	42.38%	111.97%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 13%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 6%
5 Years:: 11%
3 Years:: 36%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 8%
3 Years:: 7%
Last Year:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	656	1,216	1,327	943	1,042	1,183	1,001	4,122	4,558	4,657
	319	62	11	524	640	3,270	3,370	3,414	3,420	4,592
Trade Payables	6	17	7	37	58	94	36	64	33	40
	26	-15	188	163	248	322	228	251	719	586
Total Liabilities	1,064	1,341	1,594	1,727	2,047	4,929	4,995	8,262	9,145	10,292
	248	175	92	102	101	98	101	102	162	218
Capital Work in Progress	0	0	0	0	0	0	0	0	1,585	2,120
	500	537	692	1,061	1,414	1,560	1,385	1,919	3,188	3,320
	0	1	1	1	1	1	2	1	1	2
	0	0	0	0	0	0	0	96	80	102
Cash & Bank	4	244	37	49	28	369	410	2,052	1,614	1,120
	311	385	773	514	503	2,901	3,096	4,092	2,514	3,410
Total Assets	1,064	1,341	1,594	1,727	2,047	4,929	4,995	8,262	9,145	10,292

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	157	367	184	135	342	207	202	250	74	-178
Cash from Investing	11	-27	-124	26	-351	-2,493	90	-2,646	139	-97
Cash from Financing	-172	-295	-60	-115	-6	2,539	-352	2,558	-382	313
	-14	33	-21	33	-36	216	-100	162	-170	38

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

2026-09-10

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

2026-08-12

General Updates

2026-08-12 - JSW Infrastructure Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for JSWINFRA

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JSW Infrastructure Ltd.

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Name

ADANIPORTS

1771.55

31.13

408157.87

0.42

3649.50

10.24

10820.80

18.57

15.03

60.26

JSWINFRA

341.45

53.56

79557.90

0.26

357.60

-8.21

1444.83

18.06

14.26

46.64

GPPL

158.30

13.70

7652.85

6.57

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

126

120

142

146

141

127

124

128

140

143

164

154

164

116

103

149

221

149

293

151

Operating Profit

-24

-78

-139

OPM %

43.95%

3.51%

38.73%

29.75%

41.42%

19.02%

-19.62%

29.17%

41.38%

-54.37%

9.00%

-90.08%

7.42%

128

132

140

238

154

134

260

152

Interest

Depreciation

Profit before Tax

129

121

141

207

107

-50

Tax %

21.42%

30.92%

27.17%

13.76%

30.79%

43.89%

-68.48%

8.86%

13.67%

-11.02%

5.78%

-14.11%

16.80%

Net Profit

105

116

119

-57

0.37

0.13

0.48

0.50

0.47

0.57

0.44

0.41

0.35

0.57

0.16

-0.11

0.36

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

226

230

271

285

320

473

532

534

520

601

624

130

134

208

128

164

270

314

330

338

380

814

Operating Profit

156

203

218

204

182

220

-190

OPM %

42.33%

41.58%

23.17%

54.92%

48.78%

42.91%

40.98%

38.26%

35.02%

36.69%

-30.40%

117

297

416

664

586

569

Interest

145

460

252

347

624

251

Depreciation

Profit before Tax

120

161

135

173

367

496

176

182

Tax %

17.32%

27.74%

7.89%

18.14%

26.58%

18.83%

-27.27%

21.75%

21.10%

4.94%

6.78%

Net Profit

111

132

141

287

391

168

170

EPS

9.91

12.25

18.25

21.90

16.47

0.78

0.36

1.40

1.89

0.80

—

Dividend Payout %

0.00%

39.29%

42.38%

111.97%

—

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

656

1,216

1,327

943

1,042

1,183

1,001

4,122

4,558

4,657

319

524

640

3,270

3,370

3,414

3,420

4,592

Trade Payables

-15

188

163

248

322

228

251

719

586

Total Liabilities

1,064

1,341

1,594

1,727

2,047

4,929

4,995

8,262

9,145

10,292

248

175

102

101

102

162

218

Capital Work in Progress

1,585

2,120

500

537

692

1,061

1,414

1,560

1,385

1,919

3,188

3,320

102

Cash & Bank

244

369

410

2,052

1,614

1,120

311

385

773

514

503

2,901

3,096

4,092

2,514

3,410

Total Assets

1,064

1,341

1,594

1,727

2,047

4,929

4,995

8,262

9,145

10,292

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

157

367

184

135

342

207

202

250

-178

Cash from Investing

-27

-124

-351

-2,493

-2,646

139

-97

Cash from Financing

-172

-295

-60

-115

-6

2,539

-352

2,558

-382

313

-14

-21

-36

216

-100

162

-170

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