Larsen & Toubro Ltd.
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Industrials · Engineering & Construction
₹3,647.00 last close on 23 Oct 2026 +0.24%
Research updated
Jsw Infrastructure Ltd.
NSE: JSWINFRAIndustrialsMarine Shipping
- Last close
- ₹316.00
- Day change
- −₹5.60 (−1.74%)vs
- Market cap
- ₹78,565 crIndian rupees
- Research updated
- 1 report
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About Jsw Infrastructure
Jsw Infrastructure Ltd. is an integral player in the infrastructure development sector, primarily focused on port and logistics services. As India's burgeoning demand for efficient logistics and transport solutions grows, Jsw Infrastructure Ltd. stands out by operating critical maritime facilities that enhance the movement of goods across domestic and international waters. The company is part of the larger JSW Group, known for its steel, energy, and cement production, highlighting its strategic importance in bolstering India's industrial base. Jsw Infrastructure Ltd. provides a suite of services ranging from cargo handling to storage solutions, enabling connectivity and economic activities along the country's vast coastline. These operations significantly contribute to the growth of industries such as mining, manufacturing, and agriculture by facilitating smoother export and import processes. Jsw Infrastructure Ltd.'s robust infrastructure and strategic locational advantages help it act as a vital cog in India's logistics framework, promoting regional trade efficiency and competitiveness. Its presence underscores the critical role infrastructure plays in national and international trade, positioning Jsw Infrastructure Ltd. as a key entity in supporting and expanding India's economic landscape.
- Sector
- Industrials
- Industry
- Marine Shipping
- Listing
- NSE: JSWINFRA
- Next results
- Chief executive
- Mr. Rinkesh Roy IRTS
- Employees
- 1,428
- Headquarters
- Mumbai, India
- ISIN
- INE880J01026
- Website
- jsw.in/infrastructure
Public research · Report of
Business model & financial foundation
JSW Infrastructure (NSE: JSWINFRA), Ports and logistics: revenue of ₹5,361 crore in FY26 (+19.8% on FY25), an EBITDA margin of 48.6%, net profit of ₹1,523 crore and net debt of ₹3,101 crore.
- Revenue, FY26 (₹ crore)
- 5,361
- consolidated
- Revenue growth, FY26
- +19.8%
- on FY25
- EBITDA margin, FY26
- 48.6%
- EBITDA (Operating EBITDA excluding other income) / revenue
- Net profit, FY26 (₹ crore)
- 1,523
- to owners
- Return on equity, FY26
- 13.7%
- on average equity
- Net debt, FY26 (₹ crore)
- 3,101
- Company net debt excluding leases
- Market capitalisation (₹ crore)
- 85,105
- at the close of 13 Oct 2026
Company profile
JSW Infrastructure develops, operates and maintains ports, terminals and associated infrastructure, and logistics services. Operating assets are held through domestic and overseas subsidiaries. Reader-only identity; peer selection remains with lead analyst.
| Item | Value |
|---|---|
| Legal name | JSW Infrastructure Limited |
| Exchange and ticker | NSE: JSWINFRA; BSE: 543994 |
| ISIN | INE880J01026 |
| CIN | L45200MH2006PLC161268 |
| Sector | Infrastructure |
| Industry | Ports and logistics |
| Headquarters | Mumbai, India |
| Fiscal year end | March |
| Reporting basis and unit | consolidated, in ₹ crore |
| Auditor | Shah Gupta & Co. (since 2022-08-22) |
| Market capitalisation | ₹85,105 crore (13 Oct 2026) |
| Shares outstanding | 208.52 crore shares (FY26) |
| Price | ₹339.4 (close, 13 Oct 2026) |
| 52-week range | ₹233.4 - ₹375.5 (to 13 Oct 2026) |
| Website | https://www.jswinfrastructure.in |
Corporate structure and shareholding
Parent: Sajjan Jindal Family Trust.
| Entity | Holding | Business |
|---|---|---|
| JSW Jaigarh Port Limited | 100% | Port services |
| South West Port Limited | 90% | Port services |
| JSW Tuticorin Multipurpose Terminal Private Limited | 100% | Port services; formerly JSW Shipyard Private Limited |
| JSW Murbe Port Private Limited | 100% | Port services; formerly Nandgaon Port Private Limited |
| JSW Dharamtar Port Private Limited | 100% | Port services |
| JSW Mangalore Container Terminal Private Limited | 100% | Port services |
| JSW Keni Port Private Limited | 100% | Port services; formerly Masad Infra Services Private Limited |
| Jaigarh Digni Rail Limited | 100% | Railway network |
| JSW Jatadhar Marine Services Private Limited | 100% | Port services; formerly JSW Salav Port Private Limited |
| JSW Paradip Terminal Private Limited | 97.4% | Port services |
| Paradip East Quay Coal Terminal Private Limited | 97.4% | Port services |
| Ennore Coal Terminal Private Limited | 100% | Port services |
| Ennore Bulk Terminal Private Limited | 100% | Port services |
| Mangalore Coal Terminal Private Limited | 100% | Port services |
| Southern Bulk Terminals Private Limited | 100% | Port services |
| JSW Terminal (Middle East) FZE | 100% | UAE port services |
| JSW Middle East Liquid Terminal Corp. | 100% | UAE port services; note45 spells Corporation |
| PNP Maritime Services Private Limited | 50% | Port services; holding shown rounded50%, FY25 note specifies50% plus1 share and control |
| Navkar Corporation Limited | 70.37% | Logistics services since11 October2024 |
| JSW JNPT Liquid Terminal Private Limited | 100% | Port services |
| JSW Port Logistics Private Limited | 100% | Logistics services |
| JSW Overseas FZE | 100% | UAE port services |
| JSW Kolkata Container Private Limited | 100% | Port services since1 August2025; directors report calls JSW Kolkata Container Terminal Private Limited |
| JSW Rail Infra Logistics Private Limited | 100% | Logistics services; acquired3 February2026 |
| JSW Minerals Rail Logistics Private Limited | 100% | Logistics services; acquired3 February2026 |
| JSW (South) Rail Logistics Private Limited | 100% | Logistics services; acquired3 February2026 |
| Khurja Rail Terminal Private Limited | 100% | Logistics services; incorporated23 January2026 |
FY26 consolidated note1 lists27 subsidiaries; no equity-accounted associates/JVs listed. PNP50% shown rounded; FY25 NCI note specifies50% plus1share control. Kolkata legal name inconsistent between directors report and note1; gap recorded. Oman51% SSPA conditional, not in year-end consolidation.
| Shareholding (% of shares) | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoter | 83.62% | 83.62% | 83.62% | 73.93% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 7.31% | 7.13% | 6.92% | 11.21% |
| Domestic institutions | 2.55% | 2.17% | 2.43% | 9.19% |
| of which mutual funds | 2.12% | 1.92% | 2.07% | 8.71% |
| Retail | 3.99% | 4.52% | 4.56% | 3.67% |
| Other | 2.54% | 2.56% | 2.47% | 2.00% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
JSW Infrastructure owns and operates ports, terminals and logistics infrastructure through subsidiaries; parent-only reporting understates the economic business. Cargo handling, storage, concession services and take-or-pay anchor arrangements generate port income. Navkar, acquired in October2024, mineral rail acquired February2026 and NCR acquired September2026 extend hinterland services. Revenue recognition and freight netting vary across rail services: mix-inclusive port yield is not a tariff. Group anchor cargo stabilises demand but transfers collection concentration.
| Segment | revenue, FY26 (₹ crore) | Share | ebitda, FY26 (₹ crore) | Share | ebit, FY26 (₹ crore) | Share |
|---|---|---|---|---|---|---|
| Port operation | 4,647 | 86.7% | 2,462 | 94.6% | 1,910 | 96.0% |
| Logistic operation | 714.5 | 13.3% | 141.8 | 5.4% | 80.1 | 4.0% |
Segments as the company reports them (consolidated); each share is of the segments' sum.
| Peer | Why the dossier compares them |
|---|---|
| Adani Ports and Special Economic Zone (ADANIPORTS) | Closest integrated ports/logistics peer; broader container, marine and overseas mix than JSW's industrial bulk anchor. FY26 AR S71. |
| Gujarat Pipavav Port (GPPL) | Mature single-port comparator for operating leverage/capital returns; container, liquid and RoRo mix; coal handling suspended. FY26 AR S73. |
| Container Corporation of India (CONCOR) | Rail-led EXIM/domestic ICD logistics benchmark for JSW hinterland expansion, not a like-for-like port operator; railway land-cost exposure. FY26 AR S75. |
| Gateway Distriparks (GATEWAY) | Rail-linked ICD/CFS logistics comparator; Snowman cold-chain consolidation changes margins and PAT attribution versus ports. FY26 AR S76. |
| Allcargo Terminals (ATL) | CFS/ICD and first/last-mile comparator for Navkar/JSW logistics; smaller specialised platform, not port ownership; material lease liabilities. FY26 AR S78. |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from operations | 2,247 | 3,155 | 3,763 | 4,476 | 5,361 |
| Cost of revenue (vendor classification) * | 692.7 | 1,174 | 1,261 | 787.2 | 2,009 |
| Other operating costs (vendor classification) * | 468.0 | 674.8 | 811.9 | 2,111 | 1,319 |
| EBITDA (vendor classification) * | 1,082 | 1,783 | 2,190 | 2,615 | 2,920 |
| Operating EBIT excluding other income and exceptionals | 714.0 | 1,080 | 1,528 | 1,716 | 1,990 |
| Finance costs including FX borrowing adjustment | 288.0 | 268.7 | 332.5 | 265.7 | 383.0 |
| Profit before tax after exceptional items | 426.0 | 811.0 | 1,465 | 1,803 | 1,873 |
| Total tax expense including prior-period adjustments | 95.6 | 61.5 | 304.3 | 281.4 | 325.9 |
| Total consolidated profit after tax including NCI | 330.4 | 749.5 | 1,161 | 1,521 | 1,547 |
| Diluted EPS attributable to owners (₹) | 1.56 | 4.01 | 5.88 | 7.19 | 7.28 |
| Operating expenses | 1,359 | 1,743 | 2,286 | ||
| Employee benefits expense | 284.6 | 240.7 | 238.7 | ||
| Other expenses | 155.0 | 229.8 | 233.5 | ||
| Operating EBITDA excluding other income | 1,965 | 2,262 | 2,604 | ||
| Company EBITDA including other income | 2,234 | 2,615 | 2,950 | ||
| Other income | 269.4 | 353.0 | 346.0 | ||
| Depreciation and amortisation | 436.5 | 546.6 | 614.1 | ||
| Interest and bank charges excluding borrowing FX | 289.2 | 340.1 | 356.6 | ||
| Borrowing FX loss/(gain) | 43.3 | -74.4 | 26.4 | ||
| Exceptional gain/(loss), signed | 0.00 | 0.00 | -79.7 | ||
| Profit attributable to non-controlling interests | 4.78 | 18.4 | 23.6 | ||
| Share of profit/(loss) of associates and JV | 0.00 | 0.00 | 0.00 | ||
| Profit attributable to owners of parent | 1,156 | 1,503 | 1,523 | ||
| Cargo handling expenses excluding separately disclosed railway | 296.3 | 380.3 | 659.7 | ||
| Railway expense | n.d. | 141.0 | 213.0 | ||
| Tug and pilotage charges | 12.6 | 14.0 | 16.0 | ||
| Stores and spares consumed | 66.4 | 54.2 | 74.8 | ||
| Power and fuel | 160.9 | 180.4 | 216.2 | ||
| Maintenance dredging | 41.6 | 20.9 | 32.3 | ||
| Repairs and maintenance | 69.3 | 96.9 | 120.8 | ||
| Fees to regulatory authorities | 633.6 | 707.1 | 797.8 | ||
| Labour charges within operating expenses | 15.4 | 28.5 | 54.9 | ||
| Payloader hiring | 19.7 | 9.46 | 6.02 | ||
| Other operating expenses component | 43.0 | 110.7 | 94.1 | ||
| Current tax before prior-year adjustments | 263.8 | 303.0 | 313.4 | ||
| Deferred tax before prior-year adjustments | 40.1 | 11.1 | 13.2 | ||
| Adjustments of tax relating to previous years | 0.41 | -32.8 | -0.63 | ||
| Operating expenses: cargo, rail, concessions, fuel | 1,359 | 1,743 | 2,286 | ||
| Salaries and wages | 121.2 | 156.8 | 188.2 | ||
| Provident and other fund contributions | 5.31 | 6.80 | 8.40 | ||
| Gratuity and leave encashment | 3.44 | 5.40 | 9.77 | ||
| ESOP expense in employee benefits | 148.9 | 63.6 | 23.2 | ||
| Staff welfare | 5.81 | 8.02 | 9.12 | ||
| Rent rates and taxes | 9.47 | 15.0 | 10.1 | ||
| Advertisement and publicity | 5.18 | 6.66 | 5.40 | ||
| Directors sitting fees | 0.73 | 1.25 | 1.16 | ||
| Legal professional and consultancy | 22.4 | 65.7 | 57.1 | ||
| Insurance | 30.6 | 34.2 | 35.7 | ||
| Vehicle hiring and maintenance | 5.79 | 6.56 | 6.71 | ||
| Security charges | 11.7 | 16.6 | 21.5 | ||
| Corporate social responsibility expenses | 14.2 | 20.7 | 26.1 | ||
| Loss on sale PPE/intangibles | 2.96 | 0.00 | 0.39 | ||
| Travelling expenses | 5.75 | 6.05 | 7.21 | ||
| General office expenses and overheads | 27.7 | 31.1 | 31.4 | ||
| Business support services | 1.80 | 2.97 | 6.76 | ||
| Allowances for doubtful debts/advances net | 1.73 | 8.36 | 1.03 | ||
| FX transaction/translation loss in other expenses | 0.73 | 0.20 | 1.37 | ||
| Others component of other expenses | 14.3 | 14.5 | 21.6 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity including NCI | 3,472 | 4,089 | 8,231 | 10,489 | 11,693 |
| Debt including lease liabilities | 4,740 | 4,568 | 4,758 | 5,042 | 6,899 |
| Cash and cash equivalents - statutory BS | 528.8 | 618.7 | 723.4 | 611.3 | 797.8 |
| Net trade receivables including unbilled revenue | 573.8 | 382.6 | 676.8 | 809.0 | 1,058 |
| Stores spares and fuel inventory | 85.4 | 102.2 | 111.7 | 133.8 | 147.3 |
| Trade payables including MSME | 274.8 | 301.6 | 356.2 | 349.4 | 374.5 |
| Net property plant and equipment only | 0.00 | 1,239 | 4,655 | 6,368 | 6,854 |
| Capital work in progress excluding intangibles | 70.1 | 45.0 | 108.9 | 1,859 | 3,147 |
| Total assets | 9,429 | 9,451 | 13,828 | 16,928 | 20,358 |
| Equity attributable to owners of parent | 8,026 | 9,697 | 10,878 | ||
| Management net worth = owners equity excluding capital reserve | 7,966 | 9,329 | 10,510 | ||
| Borrowings at amortised cost excluding leases | 4,381 | 4,659 | 6,410 | ||
| Current and noncurrent lease liabilities | 377.8 | 383.3 | 489.1 | ||
| Other current bank balances incl margin/TRA | 3,367 | 1,871 | 1,520 | ||
| Fixed deposits >12 month inception current/noncurrent | 2.06 | 545.7 | 977.5 | ||
| Noncurrent margin deposits in other financial assets | 6.89 | 3.77 | 13.6 | ||
| Quoted mutual funds held as liquidity | 216.6 | 156.6 | 0.00 | ||
| Company net debt excluding leases | 65.0 | 1,471 | 3,101 | ||
| Equity share capital net of treasury shares | 410.3 | 414.7 | 417.0 | ||
| Capital reserve excluded from management net worth | 60.0 | 367.7 | 367.7 | ||
| Noncurrent borrowings at amortised cost | 4,270 | 4,439 | 5,952 | ||
| Current borrowings including long-term current maturities | 110.5 | 219.8 | 458.2 | ||
| Noncurrent lease liabilities | 363.5 | 362.3 | 458.0 | ||
| Current lease liabilities | 14.3 | 21.0 | 31.1 | ||
| Net billed trade receivables | 645.8 | 760.8 | 874.0 | ||
| Unbilled revenue | 31.0 | 48.3 | 184.0 | ||
| Goodwill on consolidation | 697.0 | 712.6 | 767.9 | ||
| Intangible assets | 1,948 | 1,867 | 2,268 | ||
| Intangible assets under development | 23.2 | 161.6 | 41.0 | ||
| Right-of-use assets | 457.6 | 445.2 | 540.6 | ||
| Non-controlling interest equity | 204.7 | 791.9 | 815.2 | ||
| Other equity attributable to parent | 7,616 | 9,282 | 10,460 | ||
| Cash deposits and mutual funds in reconstructed company net debt | 4,316 | 3,188 | 3,309 | ||
| Issued and paid-up equity capital gross of treasury | 420.0 | 420.0 | 420.0 | ||
| Net debt including lease liabilities | 1,854 | 3,590 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net operating cash flow after tax | 129.7 | 1,522 | 1,803 | 2,100 | 2,022 |
| Free cash flow (vendor definition) * | 667.2 | 1,518 | 1,555 | 24.9 | -470.1 |
| Dividends paid - positive outflow | 0.00 | 115.5 | 168.0 | ||
| Cash PPE/intangibles purchase - positive outflow | -506.8 | -269.1 | 248.7 | 2,076 | 2,492 |
| Cash subsidiary-business acquisitions | 1,822 | 964.4 | 0.00 | ||
| Cash acquisition non-controlling interests | 37.0 | 0.00 | n.a. | ||
| Borrowings repaid excluding lease principal | 961.1 | 1,194 | 2,061 | ||
| Repayment of lease liabilities | 40.2 | 43.7 | 59.2 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Year-end net outstanding shares excluding ESOP treasury | 210.00 | 179.79 | 205.15 | 207.35 | 208.52 |
| Legal issued equity shares | 210.00 | 210.00 | 210.00 | ||
| Weighted average diluted EPS shares | 196.70 | 209.15 | 209.37 | ||
| Weighted average basic shares | 192.18 | 206.72 | 208.09 | ||
| Borrowing cost capitalised in CWIP | 1.07 | 16.5 | 14.9 | ||
| Capital contracts remaining net of advances | 289.3 | 1,729 | 4,087 | ||
| Implied weighted diluted EPS denominator (crore shares) | 196.58 | 209.05 | 209.25 | ||
| Receivable days | 66 | 66 | 72 | ||
| Inventory days | 30 | 28 | 24 | ||
| Payable days | 96 | 73 | 60 | ||
| CFO/total PAT (x) | 1.55x | 1.38x | 1.31x | ||
| Related-party receivables | 401.2 | 786.3 | |||
| Relatedparty receivables/totalreceivables (%) | 74.3% | ||||
| Receivable growth less revenue growth (pp) | 0.58 | 10.99 | |||
| Numeric verified statementhit rate (%) | 76.2% |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,001 | 1,182 | 1,283 | 1,224 | 1,266 | 1,350 | 1,522 | 1,445 |
| Cost of revenue (vendor classification) * | 194.3 | 200.7 | 201.4 | 196.4 | 220.2 | 228.9 | 222.1 | |
| Other operating costs (vendor classification) * | 420.4 | 532.7 | 581.3 | 589.8 | 649.7 | 682.4 | 714.7 | |
| EBITDA (vendor classification) * | 473.5 | 531.9 | 589.2 | 527.6 | 539.4 | 700.7 | 564.8 | |
| Operating EBIT excluding other income | 386.7 | 448.4 | 500.5 | 437.7 | 461.2 | 479.7 | 611.0 | 508.0 |
| Finance costs including exchange gain/loss | -80.4 | 256.0 | 7.82 | 55.0 | 104.6 | 93.0 | 130.4 | 102.1 |
| Profit before tax after exceptional items | 553.9 | 275.9 | 581.4 | 472.6 | 463.3 | 439.2 | 497.8 | 462.8 |
| Total tax expense (credit negative) | 180.2 | -59.7 | 65.8 | 83.0 | 94.5 | 74.3 | 74.2 | 105.2 |
| Net profit including non-controlling interests | 373.7 | 335.6 | 515.6 | 389.6 | 368.8 | 364.9 | 423.7 | 357.6 |
| Diluted EPS, non-annualised quarterly (₹) | 1.78 | 1.57 | 2.44 | 1.84 | 1.72 | 1.72 | 2.00 | 1.65 |
| Operating expenses (issuer cost-of-services line) | 370.2 | 472.4 | 505.5 | 536.3 | 539.1 | 589.8 | 620.3 | 645.1 |
| Employee benefits expense | 60.4 | 63.1 | 60.9 | 52.9 | 58.8 | 56.2 | 70.7 | 56.4 |
| Other expenses | 50.2 | 60.3 | 75.8 | 53.4 | 58.0 | 59.9 | 62.1 | 69.6 |
| Operating EBITDA excluding other income | 520.5 | 586.1 | 640.9 | 581.2 | 609.7 | 643.7 | 769.2 | 673.8 |
| Other income | 86.8 | 83.5 | 88.7 | 89.9 | 106.7 | 59.7 | 89.7 | 56.8 |
| Depreciation and amortisation | 133.9 | 137.6 | 140.5 | 143.5 | 148.5 | 164.0 | 158.2 | 165.8 |
| Exceptional items (signed; expense negative) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -7.24 | -72.5 | 0.00 |
| Profit attributable to non-controlling interests | 2.22 | 5.86 | 6.21 | 4.89 | 7.57 | 5.75 | 5.38 | 11.0 |
| Share of associates and joint ventures | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Profit attributable to owners of the company | 371.5 | 329.8 | 509.4 | 384.7 | 361.2 | 359.1 | 418.3 | 346.6 |
Consolidated, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 42.4% | 40.4% | 19.3% | 19.0% | 19.8% |
| EBITDA margin | 52.2% | 50.5% | 48.6% | ||
| Net margin | 30.7% | 33.6% | 28.4% | ||
| Return on equity | 18.8% | 16.1% | 13.7% | ||
| Return on capital employed | 9.2% | 12.8% | 14.1% | 12.0% | 11.7% |
| Return on assets | 9.9% | 9.8% | 8.2% | ||
| Net debt (₹ crore) | 65.0 | 1,471 | 3,101 | ||
| Net debt / EBITDA | 0.03x | 0.65x | 1.19x | ||
| Interest cover | 2.48x | 4.02x | 4.60x | 6.46x | 5.19x |
| Asset turnover | 0.25x | 0.33x | 0.32x | 0.29x | 0.29x |
| Receivable days | 93 | 44 | 66 | 66 | 72 |
| Inventory days (on revenue) | 14 | 12 | 11 | 11 | 10 |
| Payable days (on revenue) | 45 | 35 | 35 | 28 | 25 |
| Cash conversion | 1.56x | 1.40x | 1.33x | ||
| Capex intensity | 22.6% | 8.5% | 6.6% | 46.4% | 46.5% |
| Free cash flow (₹ crore) | -377.1 | 1,253 | 1,555 | 24.9 | -470.1 |
| Dividend payout | 0.0% | 7.7% | 11.0% | ||
| EPS, diluted (₹) | 1.56 | 4.01 | 5.88 | 7.19 | 7.28 |
| Book value per share (₹) | 16.53 | 22.74 | 40.12 | 50.59 | 56.08 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA (Operating EBITDA excluding other income) / revenue.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on capital employed: EBIT / average equity plus borrowings.
- Return on assets: net profit to owners / average total assets.
- Net debt (₹ crore): Company net debt excluding leases; negative is net cash.
- Net debt / EBITDA: net debt / EBITDA (Operating EBITDA excluding other income).
- Interest cover: EBIT / finance cost.
- Asset turnover: revenue / average total assets.
- Receivable days: receivables / revenue x 365.
- Inventory days (on revenue): inventory / revenue x 365.
- Payable days (on revenue): payables / revenue x 365.
- Cash conversion: cash from operations / net profit to owners.
- Capex intensity: capital expenditure / revenue.
- Free cash flow (₹ crore): cash from operations less capital expenditure.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS attributable to owners).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 13 Oct 2026); market data at the close of 13 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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What the full research on Jsw Infrastructure includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
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The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
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Report history
Reports on Jsw Infrastructure
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₹387.50 last close on 23 Oct 2026 −2.86%Research updated
Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 13 Oct 2026; page updated 25 Oct 2026.
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