EBITDA of ₹607 Crore up 22% YoY
PAT of ₹374 Crore up 46% YoY
29 October 2024: JSW Infrastructure Limited (the “Company“), a part of the JSW Group and India’s second-largest private commercial port operator, today announced its results for the second quarter and half year ended 30th September 2024.
Key Highlights for Q2 FY25
- Cargo Handled Volumes of 27.5 Million Tonnes, up 16% YoYÂ
- Revenue of ₹1,088 Crore, grew by 22% YoY
- EBITDA of ₹607 Crore up 22% YoY
- PAT of ₹374 Crore up 46% YoY
- Strong Balance Sheet, well positioned to pursue growth
- Cash and Cash equivalents of ₹4,501 Crore
Consolidated Financial Performance Q2 FY25
During the quarter, the Company handled cargo volumes of 27.5 million tonnes which is higher by 16% over the last year. The volume increase 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 higher volume translated to 22% growth in the total revenue which stood at ₹1,088 Crore. EBITDA increased to ₹607 Crore (+22% YoY) with a robust margin of 55.8%. Consequently, PAT stood at ₹374 Crore, reflecting a solid growth of 46% year on year.
Key Business update
- Greenfield Port Development at Murbe, Maharashtra: The Company 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.
- 36 MTPA brownfield capacity expansion at Jaigarh and Dharamtar: 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 ₹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.
- Acquisition of majority stake in Navkar Corporation Limited:Â The Company concluded the earlier announced acquisition to acquire 70.37% shareholding held by Promoters and Promoter Group in Navkar Corporation Limited (“Navkar”).
