MarketFriction

JSW Infrastructure Ltd

NSE JSWINFRA · BSE 543994 · Port & Port services
₹357.45 +0.24%
NSE close2026-10-01
52 week range233.42 - 375.50
Market cap₹81,550 Cr.
P/E52.6
IPO 2023 · +200% since Nifty 500Midcap 150 Price band 20% Delivery 49.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales8489401,0961,0101,0011,1821,2831,2241,2661,3501,5221,445
Expenses396460515495481596642643656706753771
Operating Profit452480581515521586641581610644769674
OPM %53%51%53%51%52%50%50%47%48%48%51%47%
Other Income47781049487838990107521757
Interest7114313482-8025685510593130102
Depreciation101108134135134138140143149164158166
Profit before tax328307417392554276581473463439498463
Tax %22%17%21%24%33%-22%11%18%20%17%15%23%
Net Profit256254329297374336516390369365424358
EPS in Rs1.211.191.571.391.771.572.431.831.721.711.991.49
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8889981,0801,1431,6042,2733,1953,7634,4765,3615,582
Expenses3774105505247871,1641,5721,7952,2142,7572,886
Operating Profit5115885306198161,1091,6231,9682,2622,6042,696
OPM %58%59%49%54%51%49%51%52%51%49%48%
Other Income57771019475106176266353266233
Interest90130177277228420596332266383430
Depreciation82157171202271370391436547614636
Profit before tax3963772842343934268111,4651,8031,8731,863
Tax %22%26%4%16%28%22%8%21%16%17%
Net Profit3102812721972853307501,1611,5211,5471,515
EPS in Rs54.6044.0943.9331.3748.0054.023.975.507.167.256.91
Dividend Payout %0%0%0%0%0%0%0%10%11%12%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%27%19%19%
Compounded Profit Growth%40%29%-3%
Stock Price CAGR%%%11%
Return on Equity15%16%16%15%
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital566060606060360410415417
Reserves1,7982,5532,8272,4882,8313,2123,6357,6169,28210,460
Borrowings1,5991,7322,0513,1033,9464,7404,5684,7585,0426,899
Other Liabilities6288407621,0851,2861,1657509092,0682,439
Total Liabilities4,0825,1855,7016,7368,1239,1779,31213,69416,80720,215
Fixed Assets2,7303,1863,2563,9484,9246,1345,9757,7579,52310,527
CWIP3806338627521,12580461322,0203,188
Investments952823037629628330724418325
Other Assets8771,3381,3521,6601,7792,6812,9855,5605,0816,474
Total Assets4,0825,1855,7016,7368,1239,1779,31213,69416,80720,215
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity6166003282599901,1761,7971,8032,1002,022
Cash from Investing Activity-1,052-1,098-495-378-1,637-801-883-4,202-1,691-2,062
Cash from Financing Activity3875401402266413-8252,504-521227
Net Cash Flow-4941-27107-637790105-112186
Free Cash Flow-424-338-24-400-6026691,5281,55526-467
CFO/OP137%119%67%48%129%117%122%104%105%91%
Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days82108104160949746666672
Inventory Days
Days Payable
Cash Conversion Cycle82108104160949746666672
Working Capital Days-169-27181122526316341011
ROCE %12%9%9%10%11%17%16%14%14%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters85.61%85.61%85.61%85.61%85.61%85.61%85.61%83.61%83.61%83.61%83.61%73.93%
FIIs3.64%2.43%2.34%4.15%4.20%4.07%4.75%6.64%7.30%7.13%6.92%11.21%
DIIs4.13%4.08%3.59%2.74%2.50%2.73%2.69%2.82%2.54%2.17%2.43%9.19%
Public3.43%5.20%6.14%5.79%6.32%6.30%5.67%5.98%5.63%6.33%6.33%5.39%
Others3.18%2.69%2.31%1.70%1.36%1.29%1.26%0.96%0.89%0.75%0.71%0.28%
No. of Shareholders2,06,9203,00,2293,74,7213,90,0054,25,5494,38,5704,38,0444,39,8414,36,2394,60,0594,60,2564,30,425

Fundamentals

Market Cap₹ 81,550 Cr.
Current Price₹ 350
Stock P/E52.6
Book Value₹ 51.8
ROCE13.6 %
ROE15.3 %
Dividend Yield0.26 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)19%
Compounded Profit Growth (TTM)-3%
Consolidated figures.
Valuation
Market capRs 75,065 Cr
Enterprise valueRs 79,646 Cr
P/E (TTM)50.54x
Price to book6.90x
Price to sales13.45x
EV / EBITDA27.19x
EV / EBIT34.73x
EV / sales14.27x
Price to cash flow37.13x
Earnings yield1.98%
Dividend yield0.25%
P/E, 3-year average40.82x
P/B, 3-year average6.00x
P/E, 5-year average40.82x
P/B, 5-year average6.00x
Profitability
Operating margin (excl. other income)48.57%
Operating margin (incl. other income)53.53%
EBITDA margin52.48%
Pre-tax margin33.37%
Net profit margin26.61%
Net margin, latest quarter23.99%
ROE14.81%
ROCE13.88%
ROA8.23%
ROE, 3-year average17.00%
ROCE, 3-year average15.25%
ROA, 3-year average9.38%
ROE, 5-year average16.40%
ROCE, 5-year average14.82%
ROA, 5-year average7.99%
ROIC (approx.)12.25%
Tax rate17.40%
Other income / net worth2.44%
Growth
Sales growth (latest year)19.78%
Profit growth (latest year)1.35%
Sales CAGR, 3 years18.84%
Sales CAGR, 5 years27.30%
Profit CAGR, 3 years27.22%
Profit CAGR, 5 years39.21%
Sales growth QoQ-5.09%
Profit growth QoQ-17.13%
Sales growth YoY (latest quarter)18.06%
Profit growth YoY (latest quarter)-9.89%
Per share
EPS (TTM)Rs 7.07
EPS (latest year)Rs 7.25
EPS (latest quarter)Rs 1.65
EPS, 3-year averageRs 6.64
EPS, 5-year averageRs 15.58
Book value per shareRs 51.80
Sales per shareRs 26.58
Cash flow per shareRs 9.63
Free cash flow per shareRs -2.22
Dividend per share (latest year)Rs 0.89
Dividend per share, 3-year averageRs 0.74
Dividend per share, 5-year averageRs 0.74
Dividends
Dividend payout12.32%
Dividend payout, 3-year average11.04%
Dividend payout, 5-year average11.04%
Efficiency
Asset turnover0.27x
Fixed asset turnover0.51x
Inventory turnover15.51x
Inventory days24 days
Debtor days72 days
Debtors turnover5.07x
Cash conversion cycle72 days
Working capital days11 days
Leverage
Total debtRs 6,899 Cr
Cash and bankRs 2,318 Cr
Net debtRs 4,581 Cr
Debt to equity0.63x
Net debt / EBITDA1.56x
Interest coverage5.33x
Current ratio (filing 2026-03-31)2.26x
Quick ratio (filing 2026-03-31)2.19x
Trade payables (filing 2026-03-31)Rs 374 Cr
Owners' fund to total sources53.81%
Debt to assets34.13%
Cash flow
Cash from Operating Activity (latest year)Rs 2,022 Cr
Cash from Investing Activity (latest year)Rs -2,062 Cr
Cash from Financing Activity (latest year)Rs 227 Cr
Net Cash Flow (latest year)Rs 186 Cr
Free cash flow (latest year)Rs -467 Cr
FCFE (approx.: FCF + change in debt)Rs 1,390 Cr
Cash from ops / profit, 5 years1.68x
Sales to cash flow2.65x
Statement figures
Net sales (TTM)Rs 5,582 Cr
Net sales (latest year)Rs 5,361 Cr
Sales (latest quarter)Rs 1,445 Cr
Operating profit excl. other income (latest year)Rs 2,604 Cr
Operating profit (latest quarter)Rs 674 Cr
Other income (TTM)Rs 233 Cr
EBITDA (TTM)Rs 2,930 Cr
PBDT (TTM)Rs 2,500 Cr
Profit before tax (TTM)Rs 1,863 Cr
Tax (latest year)Rs 326 Cr
Net profit (TTM)Rs 1,485 Cr
Net profit (latest year)Rs 1,523 Cr
Net profit (latest quarter)Rs 347 Cr
Depreciation (TTM)Rs 636 Cr
Depreciation (latest quarter)Rs 166 Cr
Interest (TTM)Rs 430 Cr
Cost of goods sold (latest year)Rs 2,286 Cr
Total expenditure (latest year)Rs 2,757 Cr
Total income (latest year)Rs 5,627 Cr
Share capitalRs 417 Cr
ReservesRs 10,460 Cr
Shareholders' fundsRs 10,878 Cr
Total assetsRs 20,215 Cr
Net blockRs 10,527 Cr
Capital work in progressRs 3,188 Cr
InvestmentsRs 25 Cr
ReceivablesRs 1,058 Cr
InventoryRs 147 Cr
Other liabilitiesRs 2,439 Cr
Shares outstanding (crore)210.00
Ownership
Promoter holding73.93% (-9.68 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 50.5 is at the 57th percentile of its own 3.1-year range (median 48.1, low 31.3, high 80.3).
P/B 6.90 is at the 46th percentile (median 7.20).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodJSWINFRANifty 50Difference
1 week-0.9%-2.8% +1.9 pts
1 month+6.8%-6.8% +13.6 pts
3 months+9.6%-7.6% +17.2 pts
6 months+48.4%+0.4% +48.0 pts
1 year+5.7%-9.9% +15.6 pts
2 years+4.0%-13.6% +17.6 pts
174 mutual fund schemes hold about ₹7,321 Cr. Over three months 75 bought more and 80 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Contra Fund1.43%680 -4%
HDFC Flexi Cap Fund0.55%627 -10%
SBI Flexicap Fund2.55%592 -22%
HDFC Balanced Advantage Fund0.55%587 -4%
HDFC Focused Fund1.74%489 -7%
ICICI Pru Focused Fund1.68%301 +2%
Quant Multi Cap Fund3.88%300 +7%
SBI Midcap Fund1.21%296 -5%
SBI Midcap Fund1.21%294 -5%
Quant Mid Cap Fund2.87%231 -0%
Axis ELSS-Tax Saver Fund0.70%230 +50%
Quant Flexi Cap Fund1.84%136 -7%
PGIM India Midcap Fund1.14%128 -6%
Nippon India Power & Infra Fund1.26%102 -13%
Quant Infrastructure Fund3.02%95 +100%
Tata Mid Cap Fund1.53%95 -9%
UTI Value Fund0.99%95 -16%
Mahindra Manulife Mid Cap Fund1.68%91 -10%
Sundaram Aggressive Hybrid Fund(M0.90%83 +100%
HDFC Multi Cap Fund0.38%78 -6%
Franklin India Large Cap Fund1.03%78 -7%
LIC MF Large & Midcap Fund2.41%77 -15%
SBI Retirement Benefit Fund-Aggressive Plan2.10%68 +22%
WOC Mid Cap Fund0.90%68 -21%
Franklin India Large & Mid Cap Fund1.69%61 -8%

Red flags

F-score 4 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2023-12-15Urmila BhuwalkaPromoter Groupbuy7,000Rs 0.16 CrMarket Purchase
2023-11-16Saroj BhartiaPromoter Groupbuy9,800Rs 0.20 CrMarket Purchase
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,445 Cr +18.1% vs Jun 2025. Net profit ₹358 Cr -8.2%.
Against our estimate for Jun 2026: sales +1.4%, profit -11.9% miss. Our estimate for Sep 2026: sales Rs 1,498 Cr, profit Rs 411 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-18Dividend - Re 0.90 Per Share
2025-07-01Dividend - Re 0.80 Per Share
2024-07-19Dividend - Re 0.55 Per Share
DateTypeWhat it says
2026-09-23Credit Rating- NewCredit Rating assigned to one of the subsidiary company- JSW Jatadhar Marine Services Private Limited.
2026-09-23Credit Rating- RevisionRevision in Credit Rating of one of the subsidiary company- JSW Dharamtar Port Private Limited.
2026-09-23Credit Rating- RevisionRevision in the Credit Rating of one of the subsidiary company- South West Port Limited.
2026-09-23Credit Rating- RevisionRevision in the credit rating of one of the subsidiaries- JSW Jaigarh Port Limited.
2026-09-23Credit RatingCredit Rating
2026-09-11Order winLetter of Intent for setting up of an Inland Container Depot at Village Kudathini, Ballari District, Karnataka
2026-09-10AcquisitionAcquisition of NCR Rail Infrastructure Limited on implementation of the Resolution Plan under the Insolvency and Bankruptcy Code, 2016.
2026-09-09Concall / analyst meetSchedule of Institutional Investors meet
2026-08-31General UpdatesChange in the role of Non-Executive Director
2026-08-27Concall / analyst meetSchedule of meet
2026-08-22AcquisitionUpdate on Acquisition
2026-08-21Credit RatingCredit Rating
2026-08-14Shareholder meetingVoting results.
2026-08-13Shareholder meetingProceedings of Annual General Meeting held on August 13, 2026
2026-08-12General UpdatesGeneral Updates
2026-08-10Concall / analyst meetSchedule of meet
2026-08-07ESOP grantOptions to purchase securities
2026-08-05Investor PresentationInvestor Presentation
2026-07-27Concall / analyst meetTranscript
2026-07-23General UpdatesLetter to the Members providing web-link and QR code for accessing the Integrated Annual Report for the Financial Year 2025-26
2026-07-22Shareholder meetingNotice of Annual General Meeting to be held on August 13, 2026
2026-07-22UpdatesSubmission of machine-readable copy of Unaudited Standalone and Consolidated Financial Results for the quarter ended 30th June, 2026.
2026-07-21Concall / analyst meetLink of Recording
2026-07-21Monitoring Agency ReportMonitoring Agency Report for the quarter ended 30th June, 2026
2026-07-21Investor PresentationInvestor Presentation
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of JSW Infrastructure Ltd?

JSW Infrastructure Ltd (JSWINFRA) has a market capitalisation of Rs 81,550 Cr. at the 2026-10-01 close.

What is the P/E ratio of JSW Infrastructure Ltd?

JSW Infrastructure Ltd trades at a P/E of 52.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were JSW Infrastructure Ltd's latest quarterly results?

In the Jun 2026 quarter, JSW Infrastructure Ltd sales was Rs 1,445 Cr (+18.1% vs Jun 2025) and net profit was Rs 358 Cr.

What is the 52-week high and low of JSW Infrastructure Ltd?

The 52-week high is Rs 375.50 and the 52-week low is Rs 233.42.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03