JSW Infrastructure today approved a capex of Rs 2,359 crore for the capacity expansion at its Jaigarh and Dharamtar Port. As a part of the company's FY2030 growth plan to increase capacity to 400 Million Tonnes Per Annum (MTPA) from the existing capacity of 170 MTPA, the Board of the respective subsidiary companies has approved a total capacity expansion plan of 36 MTPA (21 MTPA at Dharamtar and 15 MTPA at Jaigarh). The capex plan includes mechanical, civil, and electrical work for the new berths and additional infrastructure, such as railway siding for Jaigarh Port, to boost third-party cargo movement. The expansion will increase the overall capacity of Jaigarh Port to 70 MTPA from the current 55 MTPA, and Dharamtar Port to 55 MTPA from the current 34 MTPA. This expansion primarily aims to cater to the increased cargo volume of the anchor customer on the back of the proposed 5 MTPA steel-making facility at Dolvi, Maharashtra. The expansion at both ports is expected to generate an additional cargo handling volume of approximately 27 MTPA. Construction at both ports is anticipated to be completed by March 2027. Powered by Capital Market - Live

The company has approved a capex of Rs 2,359 crore for capacity expansion at its Jaigarh and Dharamtar Port. As a part of the company's FY 2030 growth plan to increase capacity to 400 million tonnes per annum (MTPA) from the existing capacity of 170 MTPA, the board of the respective subsidiary companies has approved a total capacity expansion plan of 36 MTPA (21 MTPA at Dharamtar and 15 MTPA at Jaigarh). The capex plan includes mechanical, civil, and electrical work for the new berths and additional infrastructure, such as railway siding for Jaigarh Port, to boost third-party cargo movement. The said expansion will increased the overall capacity of Jaigarh Port to 70 MTPA from the current 55 MTPA, and Dharamtar Port to 55 MTPA from the current 34 MTPA. This expansion primarily aims to cater to the increased cargo volume of the anchor customer on the back of the proposed 5 MTPA steel-making facility at Dolvi, Maharashtra. The expansion at both ports is expected to generate an additional cargo handling volume of approximately 27 MTPA. The company will invest Rs 1,305 crore in JSW Jaigarh Port and Rs 929 crore in JSW Dharamtar Port. The expansion project will be funded through mix of debt & equity and construction at both ports is anticipated to be completed by March 2027. JSW Infrastructure a part of JSW Group, is the second largest commercial port operator in India in terms of cargo handling capacity. It develops and operates ports and port terminals pursuant to port concessions. On consolidated basis, the port operator has reported 8.87% fall in net profit to Rs 292.44 crore in Q1 FY25 as against Rs 320.89 crore recorded in Q1 FY24. Revenue from operations grew by 14.99% year on year (YoY) to Rs 1,009.77 crore in the quarter ended 30 June 2024.Powered by Capital Market - Live

Fitch Ratings stated that the 'positive' outlook reflects its expectation that JSWIL's leverage (gross debt/EBITDA) will mostly remain below our upgrade sensitivity, despite the company's increased investment plan. The 'positive' outlook is also supported by the agency's expectation that JSWIL will maintain its third-party cargo mix at the current 40% level over the medium term. The rating reflects JSWIL's geographically diversified port locations, reasonable tariffs and long-term take-or-pay contracts, which account for about 30% of total revenue. The rating is moderated by its cargo's high exposure to two commodities, coal and iron ore, as well as customer concentration risk. JSW Steel contributes more than half of JSWIL's cargo volume, but JSWIL's credit assessment is not linked to that of JSW Steel. JSW Infrastructure a part of JSW Group, is the second largest commercial port operator in India in terms of cargo handling capacity. It develops and operates ports and port terminals pursuant to port concessions. On consolidated basis, the port operator has reported 8.87% fall in net profit to Rs 292.44 crore in Q1 FY25 as against Rs 320.89 crore recorded in Q1 FY24. Revenue from operations grew by 14.99% year on year (YoY) to Rs 1,009.77 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

The headline equity indices extended losses and hit the day's low in mid-afternoon trade. The Nifty traded below the 24,550 mark after hitting the day's high of 24,854.80 in early trade. Auto shares witnessed profit booking after advancing in the past three trading sessions. At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 697.68 points or 0.87% to 80,646.41. The Nifty 50 index declined 254.50 points or 1.03% to 24,546.35. The Sensex and Nifty clocked an all-time high of 81,587.76 and 24,854.80, respectively in early trade. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slumped 2.24% and the S&P BSE Small-Cap index fell 2.02%. Sellers outnumbered buyers. On the BSE, 909 shares rose and 2,968 shares fell. A total of 103 shares were unchanged. Buzzing Index: The Nifty Auto index declined 1.97% to 25,073.75. The index rallied 1.17% in past three consecutive trading sessions. Samvardhana Motherson International (down 5.1%), Apollo Tyres (down 3.78%), MRF (down 3.03%), Bosch (down 2.85%), Tata Motors-DVR (down 2.65%), Tata Motors (down 2.51%), Bajaj Auto (down 2.09%), Eicher Motors (down 1.83%), Mahindra & Mahindra (down 1.79%) and Hero MotoCorp (down 1.77%) declined. Numbers to Track: The yield on India's 10-year benchmark federal paper was up 1.78% to 7.090 as compared with previous close 6.966. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.6450, compared with its close of 83.6375 during the previous trading session. MCX Gold futures for 5 August 2024 settlement was down 0.90% to Rs 73,490. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.14% to 104.32. The United States 10-year bond yield grew 0.29% to 4.199. In the commodities market, Brent crude for September 2024 settlement added 04 cents or 0.05% to $85.15 a barrel. Stocks in Spotlight: JSW Infrastructure dropped 5.40% after the company reported 8.87% fall in net profit to Rs 292.44 crore in Q1 FY25 as against Rs 320.89 crore recorded in Q1 FY24. Revenue from operations fell 2.98% quarter on quarter (QoQ) to Rs 2,461.9 crore in the quarter ended 30 June 2024. L&T Technology Services (LTTS) rose 1.29%. The company's consolidated net profit fell 8.01% to Rs 313.6 crore in Q1 FY25 as compared with Rs 313.6 crore in Q4 FY24. Revenue from operations fell 2.98% quarter on quarter (QoQ) to Rs 2,461.9 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

Net profit of JSW Infrastructure declined 8.87% to Rs 292.44 crore in the quarter ended June 2024 as against Rs 320.89 crore during the previous quarter ended June 2023. Sales rose 14.99% to Rs 1009.77 crore in the quarter ended June 2024 as against Rs 878.10 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1009.77878.10 15 OPM %50.9751.40 - PBDT526.22507.23 4 PBT391.64412.49 -5 NP292.44320.89 -9 Powered by Capital Market - Live