JSW Infrastructure Ltd - Stock Valuation and Financial Performance

BSE: 543994 | NSE: JSWINFRA | Port | Mid Cap

JSW Infrastructure Share Price

241.05 -1.30 -0.54%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on JSW Infrastructure

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

JSW Infrastructure stock performance -

mw4me loader
P/E Ratio (CD):
68.42
Market Cap:
50,620.5 Cr.
52-wk low:
141.8
52-wk high:
276

Is JSW Infrastructure Ltd an attractive stock to invest in?

1. Is JSW Infrastructure Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that JSW Infrastructure Ltd is a average quality company.

2. Is JSW Infrastructure Ltd undervalued or overvalued?

The key valuation ratios of JSW Infrastructure Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is JSW Infrastructure Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of JSW Infrastructure Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of JSW Infrastructure:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
JSW Infrastructure Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 16.3%10.8%12.5%10.8%8.7%8%6.8%6.9%8.3%14.3%-
Value Creation
Index
0.50.00.10.0-0.2-0.3-0.4-0.4-0.30.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4955547148889981,0801,1431,6042,2733,1953,195
Sales YoY Gr.-11.9%29%24.4%12.4%8.2%5.8%40.3%41.8%40.6%-
Adj EPS 10.81.41.61.51.411.51.84.13.5
YoY Gr.--22.7%85.3%15.8%-9.3%-1.4%-30.6%51%20.5%126.4%-
BVPS (₹) 5.16.27.610.814.415.81416.118.222.249.2
Adj Net
Profit
179127237272264261181271327741739
Cash Flow from Ops. 3542753986166003282599901,1761,797-
Debt/CF from Ops. 0.93.52.92.62.96.31243.82.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 23%26.2%40.9%40.6%
Adj EPS 17.4%23.1%60.3%126.4%
BVPS17.9%9.1%16.7%22.1%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
21.112.72017.211.89.56.71010.620.49.9
Op. Profit
Mgn %
60.461.166.765.566.449.254.250.448.850.850.8
Net Profit
Mgn %
39.826.235.132.527.824.616.416.514.523.523.1
Debt to
Equity
0.30.90.90.90.70.71.21.41.41.1-
Working Cap
Days
318334347332335384426312232153162
Cash Conv.
Cycle
1722486328821064519-10144

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 40.86%

Net Profit is growing at healthy rate in last 3 years 60.31%

Sales growth is good in last 4 quarters at 11.50%

Return on Equity has declined versus last 3 years average to 9.90%

Debt to equity has increased versus last 3 years average to 1.06

Latest Financials - JSW Infrastructure Ltd.

Standalone Consolidated
TTM EPS (₹) 0.3 3.5
TTM Sales (₹ Cr.) 532 3,195
BVPS (₹.) 35.2 49.2
Reserves (₹ Cr.) 6,966 9,901
P/BV 6.85 4.90
PE 754.79 68.42
From the Market
52 Week Low / High (₹) 141.75 / 276.00
All Time Low / High (₹) 141.75 / 276.00
Market Cap (₹ Cr.) 50,621
Equity (₹ Cr.) 420
Face Value (₹) 2
Industry PE 201.6

Management X-Ray of JSW Infrastructure:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of JSW Infrastructure

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales4955547148889981,0801,1431,6042,2733,195
Operating Expenses 1962152383083385505247951,1641,575
Manufacturing Costs30111125205157300273430545698
Material Costs0000000000
Employee Cost 29374460576075111150230
Other Costs 137686842124190176254469646
Operating Profit 2993384765806605306198081,1091,620
Operating Profit Margin (%) 60.4%61.1%66.7%65.3%66.1%49.1%54.2%50.4%48.8%50.7%
Other Income 171925587710194107106178
Interest 47868290130177277252420596
Depreciation 65118142153229171202271370391
Exceptional Items 0000000000
Profit Before Tax 204154278396377284234393426811
Tax 4625859712381089661
Profit After Tax 200148253310281272197285330750
PAT Margin (%) 40.4%26.7%35.4%35.0%28.1%25.2%17.2%17.7%14.5%23.5%
Adjusted EPS (₹)1.00.81.41.71.51.51.11.61.84.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 9281,0531,2931,8272,5942,8602,5492,8913,2723,995
Share Capital 615757566060616060360
Reserves 8669961,2361,7712,5332,8002,4882,8313,2123,635
Minority Interest8410112915719219720319720094
Debt2428429941,4881,6802,0002,7173,4814,3274,163
Long Term Debt2247088519431,3642,0002,6113,3904,0954,095
Short Term Debt1813414354431601069023268
Trade Payables112330391567205215275302
Others Liabilities 1802733455715536579601,2231,007546
Total Liabilities 1,4452,2922,7904,0825,1745,7226,6348,0089,0819,100

Fixed Assets

Gross Block1,0991,6361,9993,1073,7923,7384,6285,8447,3767,515
Accumulated Depreciation2693875273776064816809201,2421,540
Net Fixed Assets8301,2491,4722,7303,1863,2563,9484,9246,1345,975
CWIP 1534303833806338627521,1258046
Investments 0009528230376296283307
Inventories1318493450761259985102
Trade Receivables3274169199294390502482601402
Cash Equivalents 2340150453281021633141,0381,632
Others Assets395481567599655805768768859636
Total Assets 1,4452,2922,7904,0825,1745,7226,6348,0089,0819,100

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3542753986166003282599901,1761,797
PBT 204154278396377284234393426811
Adjustment 101195202242319363439480765972
Changes in Working Capital 79-29-46645-289-378183108195
Tax Paid -31-44-36-85-102-30-36-66-122-181
Cash Flow From Investing Activity -200-827-393-1,052-1,098-495-379-1,637-801-621
Capex -211-837-406-1,040-938-551-613-1,593-507-269
Net Investments 043-30-1699175-76-348-523
Others 116918847593153171
Cash Flow From Financing Activity -2005691063875401402266413-1,087
Net Proceeds from Shares 0-200400000
Net Proceeds from Borrowing 053917851539588355902252-337
Interest Paid -45-83-80-88-119-122-216-225-362-273
Dividend Paid 0000000000
Others -1551169425116-32687-36113-477
Net Cash Flow -4617111-4941-27106-637790
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)23.9114.9121.5419.912.719.977.2710.4610.7220.63
ROCE (%)20.5814.616.0516.4513.019.939.6610.3311.6517.68
Asset Turnover Ratio0.360.30.280.260.220.20.190.220.270.35
PAT to CFO Conversion(x)1.771.861.571.992.141.211.313.473.562.4
Working Capital Days
Receivable Days28356276901161431128757
Inventory Days8101717152132261511
Payable Days0000000000

JSW Infrastructure Ltd Stock News

JSW Infrastructure Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of JSW Infrastructure on 12-Apr-2024 16:59 is ₹241.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 16:59 the market cap of JSW Infrastructure stood at ₹50,620.5.
The latest P/E ratio of JSW Infrastructure as of 12-Apr-2024 16:59 is 754.8.
The latest P/B ratio of JSW Infrastructure as of 12-Apr-2024 16:59 is 6.85.
The 52-week high of JSW Infrastructure is ₹276.0 and the 52-week low is ₹141.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of JSW Infrastructure is ₹531.6 ( Cr.) .

About JSW Infrastructure Ltd

The company was originally incorporated as “JSW Infrastructure & Logistics Limited” at Mumbai, Maharashtra as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated April 21, 2006 issued by the Registrar of Companies, Maharashtra at Mumbai (“RoC”). The company received a certificate of commencement of business on June 22, 2006 by the RoC. The name of the company was subsequently changed to “JSW Infrastructure Limited”, pursuant to a special resolution passed in the extra-ordinary general meeting of the Shareholders held on March 25, 2008, pursuant to which a fresh certificate of incorporation consequent upon change of name was issued by the RoC on April 2, 2008. 

The company is the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during Fiscal 2021 to Fiscal 2023, and the second largest commercial port operator in India in terms of cargo handling capacity in Fiscal 2023. Its operations have expanded from one Port Concession at Mormugao, Goa that was acquired by the JSW Group in 2002 and commenced operations in 2004, to nine Port Concessions as of June 30, 2023 across India, making it a diversified maritime ports company. It provides maritime related services including, cargo handling, storage solutions, logistics services and other value-added services to its customers, and is evolving into an end-to-end logistics solutions provider. It develops and operate ports and port terminals pursuant to Port Concessions. Its ports and port terminals typically have long concession periods ranging between 30 to 50 years, providing it with long-term visibility of revenue streams. 

The company has a diversified presence across India with Non-Major Ports located in Maharashtra and port terminals located at Major Ports across the industrial regions of Goa and Karnataka on the west coast, and Odisha and Tamil Nadu on the east coast. Its Port Concessions are strategically located in close proximity to its JSW Group Customers (Related Parties) and it well connected to cargo origination and consumption points. This enables it to serve the industrial hinterlands of Maharashtra, Goa, Karnataka, Tamil Nadu, Andhra Pradesh and Telangana, and mineral rich belts of Chhattisgarh, Jharkhand and Odisha, making its ports a preferred option for its customers. In addition, it benefits from strong evacuation infrastructure at its ports and port terminals that comprises of multi-modal evacuation techniques, such as coastal movement through a dedicated fleet of mini-bulk carriers, rail, road network and conveyor systems.

Business area of the company

JSW Infrastructure provides maritime-related services including, cargo handling, storage solutions and logistics services. The company develop and operates ports and port terminals under Port Concessions.

Key awards, accreditations or recognitions

  • 2018: Awarded the “Bulk Port of the year” award at the Maritime and Logistics Awards, 2018.
  • 2018: Awarded the “CSR Excellence of the year 2018” award at the Gateway Awards, 2018.
  • 2020: JSW Jaigarh Port Limited awarded the ‘Golden Peacock Occupational Health and Safety Award –2020’.
  • 2021: Awarded as “Emerging Non Major Port of The Year” at Samudra Manthan Awards 2021.
  • 2021: JSW Jaigarh Port Limited won the Greentech Safety Award for Safety Excellence.
  • 2021: South West Port Limited won the Greentech Environment Award 2021.
  • 2022: Awarded “The ET Iconic Brand Award 2022”.
  • 2022: Awarded the “Best Finance Team of the Year” award in an industry event organised by UBS Forums.
  • 2022: Awarded “Best Multipurpose Port of the Year 2022”.
  • 2022: Awarded the Digital Business Innovation Award.
  • 2022: South West Port Limited was awarded the Greentech Environment Award 2022.
  • 2022: JSW Jaigarh Port Limited got certified as a “Premium member” of the British Safety Council.
  • 2022: JSW Jaigarh Port Limited received the “International Safety Award, 2022 – Merit” by the British Safety Council.
  • 2023: South West Port Limited was awarded for outstanding achievements in health and safety at the Greentech International EHS (environment health and safety) awards 2023.
  • 2023: Awarded the “Best Employer Brand Award” at National Best Employer Brands 2022 organised by Times Ascent.
  • 2023: Awarded the “Best Port Infrastructure of the year for Bulk Cargo Handling” award at the Construction Times Awards 2023 to our Company and JSW Jaigarh Port (Hub & Spoke Model).
  • 2023: JSW Jaigarh Port Limited was awarded the “Coastal Service Operator of the Year” at the Ports & Shipping Industry Congress & Awards, 2023.
  • 2023: JSW Jaigarh Port Limited was awarded the “Port/Terminal Operator of the Year Environment Protection and Green Initiative” at the Ports & Shipping Industry Congress & Awards, 2023.
  • 2023: JSW Jaigarh Port Limited was awarded the “Non – Major Port of the Year” at the Ports & Shipping Industry Congress & Awards, 2023. 

Major events and milestones

  • 2008: JSW Jaigarh Port Limited entered into a concession agreement dated June 24, 2008 with Maharashtra Maritime Board for common user multi-port at Dhamankhol Bay, Jaigarh, Ratnagiri, Maharashtra.
  • 2010: JSW Jaigarh Port Limited received consent to operate for an all weather green field port facility at Jaigarh Port, Maharashtra.
  • 2012: Commencement of operations by JSW Dharamtar Port Private Limited at Dharamtar jetty, Maharashtra.
  • 2015: JSW Paradip Terminal Private Limited entered into a concession agreement dated May 29, 2015 with Board of Trustees of Paradip Port for development of new iron ore berth for handling of iron ore exports.
  • 2015: Cape vessel handled at Jaigarh Port
  • 2016: Paradip East Quay Coal Terminal Private Limited entered into a concession agreement dated May 2, 2016 with Board of Trustees of Paradip Port Trust for mechanisation of EQ – 1, 2, 3 berths for handling of thermal coal exports at Paradip port, Odisha.
  • 2016: Entered into an agreement dated November 8, 2016 for operations and maintenance of berth 5 and berth 6 at the Fujairah Sea Port with Port of Fujairah (United Arab Emirates) for undertaking to achieve bulk cargo handling capacity of 24 metric tonne per annum.
  • 2019: Commissioned a liquified natural gas terminal at Jaigarh Port, Maharashtra.
  • 2020: JSW Mangalore Container Terminal Private Limited entered into a concession agreement dated January 27, 2020 with Board of Trustees for New Mangalore Port for mechanization of berth no. 14 for handling containers and other cargo at New Mangalore Port Trust.
  • 2020: Capacity of the Dharamtar jetty facility in Dolvi, Mahrashtra was enhanced from 9.69 to 34.00 metric tonne per annum with fully mechanized cargo handling system.
  • 2020: Acquired the Chettinad group’s terminal business to develop, operate, buy or bid for any terminal or berth for handling coal and general cargo and assuming the related operations at Ennore Coal Terminal Private Limited, Ennore Bulk Terminal Private Limited, and Mangalore Coal Terminal Private Limited.
  • 2021: Paradip East Quay Coal Terminal Private Limited commenced commercial operations at Paradip port, Odisha. 
  • 2022: JSW Mangalore Container Terminal Private Limited commenced commercial operations at berth no. 14 at New Mangalore port, Karnataka.
  • 2022: JSW Terminal (Middle East) FZE entered into an agreement dated November 29, 2022 with Port of Fujairah for operations and maintenance of a mechanized bulk handling terminal at Dibba Port, Fujairah (United Arab Emirates).
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