JSW Infrastructure reported its Q1FY25 earnings today. JSW Infra’s Q1 net profit declined 8.9% on a YoY basis to Rs 292.4 crore against Rs 320.9 crore in the same period last year. However, the company’s revenue grew 15% on a YoY basis to Rs 1,009.8 crore against Rs 878.1 crore in the same period last year.
The company handled cargo volumes of 27.8 million tonnes which is higher by 9% over the last year. The increase in the volume is primarily on the incremental volumes from the acquired assets and increased capacity utilisation at the Paradip Iron Ore and Coal Terminal. The third-party volumes stood at 13.8 million tonnes, implying a healthy growth of 48% Year on Year. As a result, the share of third-party in the overall volumes increased to 50% as compared to 37% a year ago. The higher volume translated to 20% growth in the total revenue which stood at 71,104 Crore. EBITDA grew by 24% YoY at {609 Crore with a robust margin of 55.1%. As a result, PAT stood at Rs 297 crore.
The company in Q1 through its wholly owned subsidiary JSW Port Logistics Private Limited acquired 70.37% shareholding held by Promoters and Promoter Group in Navkar Corporation Limited (“Navkar”). The Enterprise Value (EV) is F1,644 crore. The acquisition will result in the Company’s foray into logistics and other value-added services. It will facilitate the business to offer improved port connectivity and streamlined supply chain solutions to its customers. The acquisition is a first step towards the Company’s long-term vision of building and scaling an efficient pan-India logistics network for last-mile connectivity. Further, it complements the growth strategy of increasing the Company’s share of port-related container cargo driven by India’s strong economic fundamentals.
