JSW Infrastructure (JSWINFRA) Investor Presentation summary

Strategic positioning and assets

• Operates 174 mtpa port capacity, second largest private port operator in India, with assets on both coasts and international presence in UAE.

• Ports feature deep drafts and multi-modal evacuation, supporting large vessels and efficient logistics.

• Logistics segment expanded via Navkar acquisition and Gati Shakti Cargo Terminal, with a 283-acre land bank and significant container and trailer assets.

• Strong anchor customer base, notably from the steel sector, ensures stable cargo flows.

Growth strategy and project pipeline

• Plans to increase port capacity to 400 mtpa by FY30 through brownfield expansions and greenfield projects.

• Key projects include Keni Port (30 mtpa), Jatadhar Port (30 mtpa), and a 302 km slurry pipeline in Odisha.

• Logistics business targets ₹8,000 crore revenue and ₹2,000 crore EBITDA by FY30, leveraging group synergies and asset-light models.

• Ongoing expansions at Jaigarh, Dharamtar, Goa, and Mangalore, with several projects expected to complete by FY27.

Financial and operational performance

• Q3 FY25 cargo handled: 29.4 MT (+5% YoY); 9M FY25: 85.7 MT (+11% YoY), with third-party cargo share rising to 49%.

• Q3 FY25 consolidated revenue: ₹1,265 crore (+24% YoY), EBITDA: ₹670 crore (+20% YoY), PAT: ₹336 crore (+32% YoY).

• 9M FY25 consolidated revenue: ₹3,457 crore (+22% YoY), EBITDA: ₹1,885 crore (+22% YoY), PAT: ₹1,006 crore (+21% YoY).

• Navkar logistics segment saw strong volume growth but reported losses due to discontinued operations.

• Maintains a strong balance sheet with net debt/EBITDA at 0.01x and robust credit ratings.