JSW Infrastructure Limited , India's second-largest private commercial port operator, has announced robust financial results for the first quarter, demonstrating significant growth across key metrics.

Financial Highlights

The company reported a consolidated revenue from operations of ₹1,223.85 crore for Q1, marking a substantial 21% increase from ₹1,009.77 crore in the same quarter last year. This growth was primarily driven by strong performance in coal handling operations and increased third-party cargo volumes.

JSW Infrastructure's profitability saw an even more impressive surge, with net profit rising by 31% year-on-year to ₹389.57 crore, compared to ₹296.55 crore in Q1 of the previous year. The company's operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 13% to ₹581.00 crore, with an EBITDA margin of 47.49%.

Operational Performance

The company handled a total cargo volume of 29.4 million tonnes during the quarter, representing a 5% increase from the previous year. Notably, third-party cargo volumes grew by 8%, accounting for 52% of the total cargo handled, up from 50% in the same period last year.

Key Developments

JSW Infrastructure has made significant strides in expanding its operations and securing new projects:

1. The company received a Letter of Award from Syama Prasad Mookerjee Port Authority for redeveloping and mechanizing container berths at Kolkata's Netaji Subhas Dock, which will enhance its container handling capacity.

2. A binding Memorandum of Understanding was signed with Konkan Railway Corporation Limited for the development of Bhoke Railway Siding in Ratnagiri district, which is expected to improve connectivity and cargo handling capabilities at Jaigarh Port.

3. The company's resolution plan for NCR Rail Infrastructure Limited under the Corporate Insolvency Resolution Process was approved by the Committee of Creditors, subject to further approvals.

Management Commentary

Arun Maheshwari, Joint Managing Director and CEO of JSW Infrastructure, stated, "Our strong Q1 performance reflects the robustness of our business model and the successful execution of our growth strategy. The increase in third-party cargo volumes and the securing of new projects position us well for sustained growth in the coming quarters."

Future Outlook

JSW Infrastructure remains committed to its ambitious growth plan, aiming to increase its cargo handling capacity to 400 million tonnes per annum by FY2030. The company has outlined a comprehensive capital expenditure plan of ₹30,000.00 crore for this expansion, along with an additional ₹9,000.00 crore earmarked for developing its logistics segment.

With a strong balance sheet and a net debt to operating EBITDA ratio of 0.54x, JSW Infrastructure is well-positioned to pursue both organic and inorganic growth opportunities without compromising its financial stability.

Sustainability Initiatives

The company continues to focus on environmental sustainability, receiving a Leadership Grade (A-) in CDP's 2024 Supplier Engagement Assessment. Additionally, JSW Infrastructure's Dharamtar Port won the "24th Global Environment & Sustainability Award 2025" in the Port sector by the Greentech Foundation.

As JSW Infrastructure continues to expand its operations and improve its financial performance, it remains a key player in India's port and logistics infrastructure sector, poised for further growth and success in the coming years.

JSW Infrastructure Limited (JSW Infra) has achieved a significant milestone in its expansion efforts. The company's resolution plan for NCR Rail Infrastructure Limited has been approved by the Committee of Creditors, marking a potential new chapter for both entities.

Resolution Plan Approval

According to a regulatory filing by JSW Infrastructure, the company received a Letter of Intent (LoI) from the Resolution Professional on July 10, 2025, confirming the approval of their resolution plan for NCR Rail Infrastructure Limited. This development comes under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016.

About NCR Rail Infrastructure

NCR Rail Infrastructure Limited owns and operates a strategically located Private Freight Terminal (PFT) in Khurja, Uttar Pradesh. The facility boasts several key features:

• Six rail lines
• Located approximately 90 km from New Delhi
• Situated about 40 km from the upcoming Jewar Airport
• Two covered, fully constructed and operational warehouses spanning about 0.2 million square feet
• A substantial land bank of approximately 130 acres

Implementation Subject to Approvals

It's important to note that the implementation of the resolution plan is not yet finalized. JSW Infrastructure stated that the plan's execution is subject to:

1. The terms outlined in the Letter of Intent
2. Requisite approvals from the National Company Law Tribunal (NCLT)
3. Any other necessary approvals from regulatory authorities, courts, or tribunals as required by applicable laws

Implications for JSW Infrastructure

While the financial details of the resolution plan have not been disclosed, this approval represents a potential expansion opportunity for JSW Infrastructure. The acquisition of NCR Rail Infrastructure, if completed, could significantly enhance JSW Infra's logistics capabilities and strategic positioning in the northern India market.

The proximity of the PFT to both New Delhi and the upcoming Jewar Airport could provide JSW Infrastructure with a strong foothold in a rapidly developing logistics hub. Additionally, the substantial land bank offers potential for future expansion and development projects.

As the resolution process moves forward, stakeholders will be keenly watching for further details on the financial implications and strategic plans for integrating NCR Rail Infrastructure into JSW Infrastructure's existing operations.

JSW Infrastructure Limited continues to demonstrate its commitment to growth and expansion in the infrastructure sector. The company's ability to successfully navigate the complex process of acquiring distressed assets through the insolvency resolution framework showcases its strategic vision and execution capabilities.

Investors and industry observers will likely be monitoring closely for updates on the final approval and subsequent integration plans for this potentially significant acquisition.