JSW Infrastructure Ltd - Stock Valuation and Financial Performance

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).