JSW INFRAJSW Infrastructure LimitedNSE:JSWINFRATechnicalAnalystSucritJSW Infrastructure Ltd. (currently trading at ₹326) is India’s second-largest private port operator and a key logistics arm of the JSW Group. It operates 12 port concessions across India and a liquid storage terminal in Fujairah, UAE, with a total cargo-handling capacity of 170 MTPA. The company offers end-to-end maritime services including cargo handling, storage, rail connectivity, and logistics parks. JSW Infra is expanding aggressively through brownfield acquisitions, mechanization projects, and multi-modal logistics hubs. JSW Infrastructure Ltd. – FY22–FY25 Snapshot • Sales – ₹1,603 Cr → ₹2,950 Cr → ₹3,850 Cr → ₹4,476 Cr Growth driven by cargo volume expansion • Net Profit – ₹284 Cr → ₹890 Cr → ₹1,240 Cr → ₹1,521 Cr Earnings surge supported by operating leverage and tariff optimization • Operating Performance – Strong → Strong → Strong → Strong EBITDA margins consistently above 50%; high asset utilization • Dividend Yield (%) – 0.00% → 0.27% → 0.30% → 0.35% Initiated payouts post listing; reinvestment remains priority • Equity Capital – ₹2,000 Cr (constant) No dilution; strong balance sheet post IPO • Total Debt – ₹3,200 Cr → ₹3,000 Cr → ₹2,850 Cr → ₹2,700 Cr Gradual deleveraging supported by internal accruals • Fixed Assets – ₹6,800 Cr → ₹7,500 Cr → ₹8,200 Cr → ₹9,000 Cr Capex focused on berth mechanization, rail siding, and logistics parks Institutional Interest & Ownership Trends Promoter holding stands at 85.00%, with no pledging. FIIs and DIIs have actively accumulated post IPO, citing long concession tenures and high-margin infra assets. Delivery volumes reflect long-term positioning by infra, logistics, and ESG-focused funds. Business Growth Verdict JSW Infra is scaling across port terminals, logistics parks, and rail connectivity Margins remain robust due to mechanization and operating efficiency Debt is declining steadily with strong operating cash flows Capex supports long-term competitiveness and cargo diversification Management Con Call • Q1 FY26 revenue rose 21.2% YoY to ₹1,223 Cr; PAT up 31.4% YoY to ₹390 Cr • Signed 30-year concession with Kolkata Port for ₹740 Cr berth modernization24 • Acquired 86-acre rail siding in Ballari, Karnataka for ₹57 Cr; ₹380 Cr logistics park planned5 • FY26 outlook: 18–20% revenue growth, 5–7% volume CAGR, and margin retention above 50% Final Investment Verdict JSW Infrastructure Ltd. offers a high-quality infra compounding story built on long-tenure port assets, operating efficiency, and strategic expansion. Its improving profitability, zero pledging, and multi-modal logistics integration make it suitable for accumulation by investors seeking exposure to India’s trade infrastructure and supply chain modernization.