JSW Infrastructure Q2 Revenue Hits Rs 1,088 Crore, Profit Up 46%

New Delhi / October 28, 2024: JSW Infrastructure  Limited, a part of the JSW Group and India’s second-largest private commercial port operator, on Monday announced its results for the second quarter and half year ended September 30, 2024. The company handled 27.5 million tonnes of cargo, a 16% year-on-year increase. Revenue surged 22% to Rs 1,088 crore, while EBITDA and PAT grew by 22% and 46%, respectively. With a robust balance sheet and Rs 4,501 crore in cash and cash equivalents, It said in a press statement. 

The increase in cargo volume was driven by the increased capacity utilisation at the coal terminals of Mangalore, Paradip and Ennore and the contribution from the acquisitions (PNP and Liquid Storage Terminal, UAE). Notably, the increase in the third-party volume was even stronger with 48% year-on-year growth and the share of Third Party in the overall volumes stood at 46% vs 36% a year ago, the statement added..

The higher volume translated to 22% growth in the total revenue which stood at Rs 1,088 Crore. EBITDA increased to Rs 607 Crore (+22% YoY) with a robust margin of 55.8%. Consequently, PAT stood at Rs 374 Crore, reflecting a solid growth of 46% year on year.

JSW Infrastructure emerged as the winning bidder for the development of a greenfield port at Murbe in Maharatshra. The port is designed to be an all-weather, multi-cargo commercial port. The proposed port is located near major highways such as the National Highway 8 & the State Highway (Boisar Road) and Rail Corridors such as the Delhi-Mumbai trunk rail route and the Dedicated Western Freight Corridor.

The Board of the respective subsidiary companies has approved a total capacity expansion plan of 36 MTPA (21 MTPA at Dharamtar and 15 MTPA at Jaigarh). The total capex of Rs 2,359 plan includes mechanical, civil, and electrical work for the new berths and additional infrastructure, such as railway siding for Jaigarh Port, to boost third-party cargo movement. The expansion will increase the overall capacity of Jaigarh Port to 70 MTPA from the current 55 MTPA, and Dharamtar Port to 55 MTPA from the current 34 MTPA. 

This expansion primarily aims to cater to the increased cargo volume of the anchor customer on the back of the proposed 5 MTPA steel-making facility at Dolvi, Maharashtra. The expansion at both ports is expected to generate an additional cargo handling volume of approximately 27 MTPA. Construction at both ports is anticipated to be completed by March 2027, the statement added.