JSWINFRAServices

JSW Infrastructure Limited

Port & Port services · ISIN INE880J01026 · BSE 543994 · NSE EQ · FV ₹2
Last price
₹345
+5.81%today
What this company does

JSW Infrastructure Limited operates in Port & Port services, part of the Services sector. It booked ₹1,481 cr of revenue in its latest quarter (Q2 FY27) and kept 21.5% of sales as profit. It is the 2nd largest of 4 Port & Port services companies we track, by market value.

Their stated mission

“to create safe million tonnes by 2047.”

In the report:
49out of 100
Equitytale Health Score
Mixed

Healthier than 49% of companies in Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 34–117 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
47

At close. Not part of the score.

Profitability & returns48

How much profit it earns on the money it employs

Balance sheet47

How much it owes, and whether earnings cover the interest

Cash quality64

Whether reported profit actually arrives as cash

Valuation6

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
A mixed pictureLooks overpriced vs. 2 models ↓
Strengths
✓ Makes a profit
✓ Strong 21% net margin
✓ Sales up 17% vs last year
✓ Promoters hold 74%
✓ No promoter shares pledged
✓ Turns profit into real cash
Watch-outs
! Profit down 12% vs last year
! Low 7.1% return on equity

What if I invest in JSWINFRA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹345▲ +5.81%
latest close · 2026-11-04
52-wk low ₹30374 sessions so far52-wk high ₹376
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio63.9High
LowAverageHigh
P/B ratio4.46High
Below bookModerateHigh
EV / EBITDA25.1High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity7.1%Weak
WeakFairStrong ▸15%
Return on capital10.2%Fair
WeakFairStrong
Net margin21.5%Strong
ThinDecentStrong
EBITDA margin58.3%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.39Comfortable
LowModerateHigh ▸1
Interest cover2.7×Okay
RiskyOkayStrong ▸5×
Current ratio4.53Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹80,310 cr
Book value
₹77
EPS
₹1.35
latest quarter
Net debt
₹6,268 cr
owes more than its cash
Enterprise value
₹86,578 cr
EBITDA
₹3,452 cr
annualised
EBIT
₹2,752 cr
annualised
Operating margin
46.5%
Return on assets
4.4%
Earnings yield
1.56%
P/S
13.56
Sales / share
₹25.5
Tax rate
23.9%
Face value
₹2
Shares
232.6 cr
Working capital
₹7,672 cr
Current assets
₹9,849 cr
Current liabilities
₹2,176 cr
Delivery %
56.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹140 vs market price ₹345 — price is 146% above it
Safety cushion-146.4%(target ≥ +20%)
Models span ₹118–₹163, midpoint ₹140
Model ₹140
Price ₹345
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,481 cr
Other Income₹189 cr
Total Income₹1,669 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹58 cr
Finance Costs₹257 cr
Depreciation & Amortisation₹175 cr
Other Expenses₹748 cr
Total Expenses₹1,238 cr
Profit before Tax₹431 cr
Tax Expense₹103 cr
Net Profit₹328 cr
Net margin on total income19.7%
Where the money goes · Q2 FY27
% of total income
Employee benefit expense₹58 cr3.5%
Finance costs₹257 cr15.4%
Depreciation & amortisation₹175 cr10.5%
Other expenses₹748 cr44.8%
Tax expense₹103 cr6.2%
Profit for the period₹328 cr19.7%
Total income ₹1,669 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,522 cr1,445 cr1,481 cr
Total income1,612 cr1,502 cr1,669 cr
Expenses1,042 cr1,039 cr1,238 cr
Profit before tax498 cr463 cr431 cr
Tax74 cr105 cr103 cr
Net profit (owners' share)418 cr347 cr318 cr
Net margin (owners' share, on revenue)27.5%24.0%21.5%
EPS (₹)2.011.651.35
YoY (latest quarter): total income +21.7% · net profit -12.0%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹29,120 cr
Shareholder equity
₹18,005 cr
parent shareholders
Total debt
₹7,292 cr
Cash
₹1,024 cr
Cash flow · H1 FY27
Operating
₹850 cr
Investing
₹-7,535 cr
Financing
₹6,912 cr
Peer comparison
Port & Port services · by market value
CompanyPriceMarket capP/E
Adani Ports and Special Economic Zone Limited₹1,867₹4.30 L cr29.7
JSW Infrastructure Limitedthis company₹326₹75,902 cr60.4
Gujarat Pipavav Port Limited₹163₹7,896 cr13.3
Allcargo Terminals Limited₹24₹633 cr25.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.26%
trailing 12 months
Dividend / share (TTM)
₹0.9
Last dividend
₹0.9
ex 18 Jun 2026
ActionDetailEx-date
Dividend₹0.9 / share18 Jun 2026
Dividend₹0.8 / share1 Jul 2025
Dividend₹0.55 / share19 Jul 2024
Who owns it · 2026-09-30
No pledge
Promoter
73.9%
FII / Foreign
12.5%
DII / Domestic
8.5%
Retail / others
4.9%
Promoter stake down 11.7% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtUrmila Bhuwalka · Promoter Group7,000 · ₹16.4 L15 Dec 23
BoughtSaroj Bhartia · Promoter Group9,800 · ₹20.0 L16 Nov 23
Bulk / block deals
short— · NSE322 Sep 26
short— · NSE50031 Aug 26
short— · NSE5010 Aug 26
Stake changes
SoldSajjan Jindal and Sangita Jindal (Trustees of Sajjan Jindal Family Trust) · promoter→ 73.93% · 3.33 cr30 Jun 26
SoldSajjan Jindal Family Trust (through its Trustees Mr. Sajjan Jindal and Mrs. Sangita Jindal) · promoter→ 78.72% · 4.20 cr16 May 25
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 13 Aug 2026
See the official result
1
Adoption of: a. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026, together with the Reports of the Board of Directors and Statutory Auditor thereon, and b.the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026, together with the Report of the Statutory Auditor thereon.
Backed by 100% of shareholders other than promotersneeded 50%
46.52 cr votes for, 43,266 against · 0% of mutual funds and other big investors said no
2
Declaration of Dividend of Re. 0.90/- per Equity Share of Rs. 2/- of the Company
Backed by 100% of shareholders other than promotersneeded 50%
46.53 cr votes for, 1,326 against · 0% of mutual funds and other big investors said no
3
Appointment of Mr. Lalit Singhvi (DIN: 05335938) Director, who retires as a Director by rotation and, being eligible, offers himself for re-appointment
Backed by 97% of shareholders other than promotersneeded 50%
44.92 cr votes for, 1.59 cr against · 4% of mutual funds and other big investors said no
4
Payment of remuneration to Mr. Lalit Singhvi (DIN: 05335938), Non-Executive Non-Independent Director of the Company
Backed by 85% of shareholders other than promotersneeded 75%
39.44 cr votes for, 7.07 cr against · 16% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 189 named members
owning 73.9% between them · as of 2026-09-30
Sajjan Jindal , Sangita Jindal (Trustees of Sajjan Jindal Family Trust)69.52%
JSL Limited2.20%
Siddeshwari Tradex Private Limited2.20%
Abenergia Renewables Private Limitedno shares
Accura Form Private Limitedno shares
Accura Inks Private Limitedno shares
Adarsh Advisory Services Private Limitedno shares
Aequo Galerie Private Limitedno shares
Business done with them
FY2026 · 14 of the group
The company paid ₹810 cr to companies in the promoter group last year — about 15.1% of its ₹5,361 cr revenue and received ₹176 cr back from them.
JSW SHIPPING & LOGISTICS PRIVATE LIMITED
Bought property or assets from them · Asset Acquisition, Interest expenses, Reimbursement of expenses incurred by them on our behalf
₹670 cr
company paid
JSW ENERGY LIMITED
Sold goods to them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Recovery of expenses incurred By us on their behalf, Lease rent paid, Reimbursement of expenses incurred by them on our behalf
₹64 cr
company received
JSW CEMENT LIMITED
Sold goods to them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹44 cr
company received
JSW Green Cement Private Limited
Bought goods from them · Purchase of goods and services, Purchase of capital goods
₹34 cr
company paid
Jindal Saw Limited
Other payments to them · Purchase of goods and services, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹33 cr
company paid
BMM ISPAT LIMITED
Sold goods to them · Sales of goods and services, Reimbursement of expenses incurred by them on our behalf
₹29 cr
company received
JSW Foundation
Other payments to them · Corporate social responsibility expenses, Reimbursement of expenses incurred by them on our behalf
₹27 cr
company paid
JSW MINERALS TRADING PRIVATE LIMITED
Sold goods to them · Sales of goods and services, Recovery of expenses incurred By us on their behalf
₹27 cr
company received
JSW ENERGY LIMITED
Bought goods from them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Recovery of expenses incurred By us on their behalf, Lease rent paid, Reimbursement of expenses incurred by them on our behalf
₹10 cr
company paid
SAPPHIRE AIRLINES PRIVATE LIMITED
Bought goods from them · Purchase of goods and services, Security deposit given, Interest income other
₹10 cr
company paid
SAPPHIRE AIRLINES PRIVATE LIMITED
Transfers Under Finance Agreements To Entity · Purchase of goods and services, Security deposit given, Interest income other
₹9 cr
company paid
Jindal Saw Limited
Sold goods to them · Purchase of goods and services, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹6 cr
company received
JSW IP HOLDINGS PRIVATE LIMITED
Bought goods from them · Purchase of goods and services, Reimbursement of expenses incurred by them on our behalf
₹4 cr
company paid
JSW GLOBAL BUSINESS SOLUTIONS LIMITED
Bought goods from them · Purchase of goods and services, Recovery of expenses incurred By us on their behalf
₹4 cr
company paid
JSW CEMENT LIMITED
Bought goods from them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹3 cr
company paid
Jindal Saw Limited
Bought goods from them · Purchase of goods and services, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹3 cr
company paid
SAPPHIRE AIRLINES PRIVATE LIMITED
Other income from them · Purchase of goods and services, Security deposit given, Interest income other
₹2 cr
company received
BRAHMANI RIVER PELLETS PRIVATE LIMITED
Sold goods to them · Sales of goods and services
₹2 cr
company received
JSW CEMENT LIMITED
Other income from them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹2 cr
company received
JSW ENERGY LIMITED
Other payments to them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Recovery of expenses incurred By us on their behalf, Lease rent paid, Reimbursement of expenses incurred by them on our behalf
₹86 L
company paid
JSW Paints Private Limited
Other payments to them · Purchase of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹49 L
company paid
JSW Paints Private Limited
Bought goods from them · Purchase of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹42 L
company paid
JSW IP HOLDINGS PRIVATE LIMITED
Other payments to them · Purchase of goods and services, Reimbursement of expenses incurred by them on our behalf
₹33 L
company paid
JSW MINERALS TRADING PRIVATE LIMITED
Other income from them · Sales of goods and services, Recovery of expenses incurred By us on their behalf
₹14 L
company received
JSW ENERGY LIMITED
Other income from them · Purchase of goods and services, Purchase of capital goods, Sales of goods and services, Recovery of expenses incurred By us on their behalf, Lease rent paid, Reimbursement of expenses incurred by them on our behalf
₹13 L
company received
Jindal Saw Limited
Other income from them · Purchase of goods and services, Sales of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹12 L
company received
JSW SHIPPING & LOGISTICS PRIVATE LIMITED
Other payments to them · Asset Acquisition, Interest expenses, Reimbursement of expenses incurred by them on our behalf
₹11 L
company paid
JSW GLOBAL BUSINESS SOLUTIONS LIMITED
Other income from them · Purchase of goods and services, Recovery of expenses incurred By us on their behalf
₹7 L
company received
JSW Paints Private Limited
Other income from them · Purchase of goods and services, Reimbursement of expenses incurred by them on our behalf, Recovery of expenses incurred By us on their behalf
₹2 L
company received
EVERBEST CONSULTANCY SERVICES PRIVATE LIMITED
Bought goods from them · Purchase of goods and services
₹2 L
company paid

The company also transacted with 17 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹6,555 cr raised in Jun 2026 by selling shares to large investors

As of Sep 2026, the company says it has spent 16% of what it set aside, leaving ₹5,499 cr still to be spent. CARE Ratings Limited watches the spending on the exchange’s behalf.

Financing capital expenditure requirements through investment in our subsidiaries, for the development of ongoing projects of our subsidiaries comprising of the following:
10%
₹296 cr of ₹3,040 cr
Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by our Company and certain of our Subsidiaries through investment in such Subsidiaries;
2%
₹29 cr of ₹1,300 cr
Funding strategic investments and inorganic growth through unidentified acquisitions and general corporate purposes
32%
₹681 cr of ₹2,139 cr
Issue Expenses
66%
₹50 cr of ₹76 cr
₹2,800 cr raised in Sep 2023 by selling shares to the public

As of Sep 2026, the company says it has spent 79% of what it set aside, leaving ₹582 cr still to be spent. CARE Ratings Limited watches the spending on the exchange’s behalf.

Prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings through investment in our wholly owned Subsidiaries, JSW Dharamtar Port Private Limited and JSW Jaigarh Port Limited
100%
₹880 cr of ₹880 cr
Financing capital expenditure requirements through investment in our wholly owned Subsidiary, JSW Jaigarh Port Limited, for proposed expansion/upgradation works at Jaigarh Port as follows: (i) LPG Terminal Project (ii) setting up an electric sub-station (iii) purchase and installation of dredger
45%
₹461 cr of ₹1,029 cr
Financing capital expenditure requirements through investment in our wholly owned Subsidiary, JSW Mangalore Container Terminal Private Limited, for proposed expansion at Mangalore Container Terminal
91%
₹137 cr of ₹151 cr
General corporate purposes.
100%
₹666 cr of ₹666 cr
Spent by quarter: 69% → 70% → 71% → 100% → 75% → 78% → 79% (to Sep 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.