JSW Infrastructure share price today

JSW Infrastructure Ltd's share price was ₹316.10 at the close on 30 October 2026. It has been rising for 19 weeks. That is 1.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹241 and ₹362, and at that close it sat 62% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today JSW Infrastructure Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 36 weeks in a row.

Over the last 3.1 years the share price moved +84% while the NIFTY 500 moved +26%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) and lowest operating margin in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹1,481 crore, +17% on a year earlier.

   Why: Revenue rose because India port operations grew faster than the industry. The logistics business also grew with more rail operations and Navkar activity.

   Next results: check whether more rakes are deployed and used, since management ties the logistics result to that.

   From the earnings call on 27 Oct 2026.

2. Lowest operating margin in 16 quarters

   Operating margin was 46% in the September 2026 quarter, against 48% a year earlier.

   Why: Operating margin fell because Fujairah had no storage volumes and more cargo went through coal terminals, which make thinner margins.

   Next results: check whether the Fujairah tanks win storage demand and start adding profit.

   From the earnings call on 27 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), JSW Infrastructure reported revenue of ₹1,481 crore, up 17.0% from ₹1,266 crore a year earlier, and a profit of ₹328 crore, down 11.1% from ₹369 crore.

JSW Infrastructure results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

JSW Infrastructure's management discussed these results on a call held on 27 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

JSW Infrastructure closed at ₹316.10 on 30 October 2026, up 9.1% from ₹289.85 a year earlier (31 October 2025) and up 79.4% over three years. Its highest weekly close since October 2023 was ₹362.05 on 25 September 2026.

JSW Infrastructure share price: then and now

Weekly closing prices. Each change is the move from that price to the 30 Oct 2026 close. A day's intraday high or low can go beyond these weekly closes.

167 weekly closes from 6 October 2023 to 30 October 2026.

30 Oct 2026: JSW Infrastructure closed at ₹316.10, up 0.0% on the week and down 11.6% on the month. 27 Oct 2026: JSW Infrastructure held its results call for July to September 2026. Management guided: Port capacity to 300 mtpa by FY28 and 400 mtpa by FY30.

Earlier

• Results for July to September 2026: Revenue up 17.0% and profit down 11.1% on a year earlier.
• Our read, 27 Jun 2026: India's fastest-growing port platform: two mega-capacity assets commissioning March 2027 that will nearly double operating profit, priced today on pre-ramp trailing earnings that don't show the punchline yet.
• 18 Jun 2026: ex-date for a dividend of ₹0.90 a share.

Our read of the business

Latest quarter: Operating profit guidance met despite Fujairah headwind; Navkar 14x turnaround complete.

Our read after the latest results, written 27 June 2026.

JSW Infrastructure paid ₹0.90 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.28% at the ₹316.10 close on 30 October 2026. The last was a dividend of ₹0.90 a share, ex-date 18 June 2026.

JSW Infrastructure dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. JSW Infrastructure Ltd paid out 12% of its profit as dividends in FY26, and it paid a dividend in 3 of its last 10 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 27 October 2026, JSW Infrastructure's management guided: Port capacity to 300 mtpa by FY28 and 400 mtpa by FY30.

“We remain on track to further increase the fleet to at least 110 rakes by March 2027.”Rinkesh Roy, Joint MD and CEO, on the call for July to September 2026

What management guided

• FY27 logistics operating margin 28%, operating profit ₹400 crore and fleet at least 110 rakes by March 2027; 72 rakes active, 6 more due in November-December.
• FY27 consolidated operating profit planned at ₹2,950-3,000 crore, with ports at ₹2,550-2,560 crore.
• FY27 capital spending ₹5,000-6,000 crore; FY27-FY28 capital spending ₹16,500 crore, with H2 finance costs broadly in line with H1 and a possible ROU-related increase.
• H2 domestic cargo growth 8-10% on a year earlier despite a 30-day Tuticorin shutdown.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 27 October 2026.

What is changing at JSW Infrastructure, from the latest results and calls: jatadhar port + iron ore slurry pipeline (march 2027 dual commissioning), navkar logistics platform scale-up and brownfield port de-bottlenecking (jaigarh, dharmtar, ennore).

• Jatadhar Port + Iron Ore Slurry Pipeline (March 2027 dual commissioning). Two assets commissioning simultaneously in March 2027 that management attributes ₹800 crore and ₹300-400 crore of incremental annual operating profit respectively, nearly equivalent to the entire FY22 operating profit base in one stroke. ⚠ estimate
• Navkar Logistics Platform Scale-up. Navkar went from ₹8 crore to ₹118 crore operating profit in one year and is now scaling with 25 newly commissioned GPWIS rakes generating ₹25 crore of operating profit in their first two operating months, the fleet is aiming for 250 rakes over three years. ⚠ estimate
• Brownfield Port De-bottlenecking (Jaigarh, Dharmtar, Ennore). Jaigarh and Dharmtar adding 26-27 million tonnes of combined capacity at brownfield IRRs of 20-21 percent, better returns than greenfield at lower capital spending intensity. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 27 June 2026.

If FY27 operating profit comes in below ₹2,700 crore, a third successive significant guidance miss, or if both the Jatadhar port and the iron ore slurry pipeline slip beyond September 2027, the capacity-ramp thesis collapses to a maintenance story still priced at 40-plus times trailing earnings. Separately, if net debt exceeds 2.5 times operating profit at any point during the FY27-28 capital spending phase, the balance-sheet buffer that supports the case is gone.

Each change stops working if

• Jatadhar Port + Iron Ore Slurry Pipeline (March 2027 dual commissioning): Both commissioning dates slip past September 2027, or the Vijayanagar steel expansion is deferred, removing the captive volume anchor that de-risks the Jatadhar case.
• Navkar Logistics Platform Scale-up: Navkar ICD utilization falls back below 55 percent, or the 40-rake delivery (August-September 2026) is deferred, killing the ₹150 crore FY27 rake-contribution estimate.
• Brownfield Port De-bottlenecking (Jaigarh, Dharmtar, Ennore): Dolvi steel expansion is deferred, removing the 10-15 million tonne captive throughput that anchors the Dharmtar berth business case.

The main risks

• Management guidance credibility gap, fourth generation miss possible: Four distinct guidance cuts in eighteen months, volume, capital spending, logistics operating profit, and the Oman status, establish a pattern of optimistic guidance that warrants building a 20-25 percent miss buffer into every forward estimate. ✓ fact
• Fujairah geopolitical disruption, recovery timeline uncertain: Three of the fifteen storage tanks at the Fujairah oil terminal were damaged by geopolitical conflict, creating a ₹30-32 crore quarterly operating profit headwind that is expected to constrain H1 FY27. ✓ fact
• Capital spending-driven debt increase during FY27-28 construction peak: The planned ₹16,500 crore FY27-28 capital spending program will push net debt from ₹3,100 crore today toward ₹8,000-10,000 crore during the construction peak, with the associated interest cost headwind pressuring profit even as operating profit grows. ✓ fact
• Iron ore seaborne market weakness at Paradip, recurring drag: Paradip volumes declined 3.9 million tonnes in FY26 due to iron ore export market weakness, this has been a recurring drag on volume guidance and is correlated with global steel demand. ✓ fact

Our read after the latest results, written 27 June 2026.

When JSW Infrastructure reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Fujairah tank restart - check whether commissioning approval converts into storage demand and positive operational contribution.

JSW Infrastructure is on 2 of our India lists: Momentum stocks and Small & mid cap stocks.

JSW Infrastructure Ltd earned ₹328 Cr of net profit in the Sep 2026 quarter, −11.1% on the same quarter a year earlier. Full-year FY26 profit was ₹1,547 Cr. Over 9 years profit has grown 19.6% a year on average. That is 22.1% of the quarter's revenue. The same quarter a year earlier earned ₹369 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹1,547 Cr (+1.7% on the year before).

Why profit moved: revenue changed +17.0% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed −7.1% and revenue +17.0%. Profit is growing slower than sales: rising costs are taking part of the growth.

JSW Infrastructure Ltd reported ₹1,481 Cr of revenue in the Sep 2026 quarter, +17.0% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 9 years it has grown 22.1% a year on average. The last full year, FY26, came in at ₹5,361 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹5,798 Cr.

FY26 revenue was ₹5,361 Cr, +19.8% on the year before.

Recent pace: the last four quarters grew +17.0% on average, against 22.1% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +17.0%, against +19.7% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −8.4%, against +8.5% a year (rolling over).

JSW Infrastructure Ltd's operating margin was 46.0% in the Sep 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 10 years it has been between 49.0% and 59.0%. The latest quarter is below every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The 302-km iron ore slurry pipeline (82 percent complete as of May 2026, with 247 km welded and 235 km lowered) operates on a take-or-pay contract with Vijayanagar steelmakers, providing revenue certainty with margins described as two-thirds of revenue. Jatadhar port's pile foundation is 80 percent complete with 7 million cubic meters of dredging done. The primary Jatadhar anchor is the JSW Steel Vijayanagar expansion from 18 to 25 million tonnes, pulling coal, flux, iron ore, and pellets through the new berth. Both assets are captive-anchored, limiting volume execution risk.

Why the margin moved: operating margin changed −2.6 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 140% of JSW Infrastructure Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,022 Cr of operating cash against ₹1,547 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹2,786 Cr of spending on assets, free cash was −₹764 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 140% of profit came in as cash: the cash cycle got 22 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 5.8× depreciation over three years. The next section checks what that spending is building.

JSW Infrastructure Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 72 days in FY26, down from 94 days in FY21. It spent ₹9,291 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹5,361 Cr, each day of that cycle ties up about ₹14.7 Cr, so roughly ₹1,058 Cr is tied up in the business at any time.

Spending on assets: ₹9,291 Cr over the last 3 years, against ₹1,597 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3,188 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

JSW Infrastructure Ltd's P/E is 48.9×, in the middle of its own history: higher than 61% of past readings. Its usual P/E (the middle reading) is 47.0×, over 3.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹6.55.

Why the multiple is where it is: over the past year earnings per share moved +1.3% while the price moved +9.1%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 3 years the price moved +21.5% a year; about +22.3% a year came from earnings growth and about −0.8 percentage points from the multiple (roughly no change). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

JSW Infrastructure Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −8.4% in the latest quarter, against +219.4% at its best in 12 quarters, with ROCE falling at 11.2%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

JSW Infrastructure Ltd's story is not scored yet against the checks our research set on 27 June 2026. Where it sits in its own cycle: MID EXPANSION CAPEX BUILD.

NOT YET CHECKED

Our read, 27 June 2026. India's fastest-growing port platform: two mega-capacity assets commissioning March 2027 that will nearly double EBITDA, priced today on pre-ramp trailing earnings that don't show the punchline yet.

From the price. Price stage 2, week 19, above its 200-day line, relative strength falling.

From the research. India's fastest-growing port platform: two mega-capacity assets commissioning March 2027 that will nearly double EBITDA, priced today on pre-ramp trailing earnings that don't show the punchline yet.

Where they disagree. FIIs have been net customers, rising from 2.34 percent in March 2024 to 4.75 percent by March 2025.

What is proven. India's fastest-growing port platform: two mega-capacity assets commissioning March 2027 that will nearly double EBITDA, priced today on pre-ramp trailing earnings that don't show the punchline yet.

What is not proven yet. If FY27 EBITDA comes in below Rs.2,700 crore, a third successive significant guidance miss, or if both the Jatadhar port and the iron ore slurry pipeline slip beyond September 2027, the capacity-ramp thesis collapses to a maintenance story still priced at 40-plus times trailing earnings.

What would change our mind. If FY27 EBITDA comes in below Rs.2,700 crore, a third successive significant guidance miss, or if both the Jatadhar port and the iron ore slurry pipeline slip beyond September 2027, the capacity-ramp thesis collapses to a maintenance story still priced at 40-plus times trailing earnings.

The test written in advance. Management guidance credibility gap, fourth generation miss possible. Measured by: Management guidance credibility gap, fourth generation miss possible Q1 FY27 (August 2026) EBITDA print and whether Navkar tracks toward the Rs.400 crore FY27 guidance by the next result.

The test written in advance. Fujairah geopolitical disruption, recovery timeline uncertain. Measured by: Fujairah geopolitical disruption, recovery timeline uncertain by the next result.

What the company does. JSW Infrastructure grew operating revenue at roughly 24 percent annually over four years and EBITDA from Rs.816 crore to Rs.2,604 crore between FY21 and FY26, before either the Jatadhar port or the 302-km iron ore slurry pipeline contribute a single rupee. Management is guiding EBITDA to double to Rs.5,000 crore by FY28 on the back of these two March-2027 assets plus brownfield expansion and the Navkar logistics platform now at fourteen times its prior-year EBITDA, but the FY27 earnings will be the real test, with higher interest costs eating into PAT even as EBITDA grows.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: CWIP surge signals major active construction The research reads it further: The Rs.3,015 crore increase in CWIP between March 2024 and March 2026 is the in-process value of the Jatadhar port and iron ore slurry pipeline, plus brownfield works at Jaigarh and Dharmtar. When these assets capitalize (March 2027), depreciation will increase but EBITDA contribution will dwarf the depreciation. The capex is confirmed as productive rather than idle by management's concall construction milestones.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changebuilding
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 1 · Operating leverage: building. Two assets commissioning simultaneously in March 2027 that management attributes Rs.800 crore and Rs.300-400 crore of incremental annual EBITDA respectively, nearly equivalent to the entire FY22 EBITDA base in one stroke. What proves it keeps working: Jatadhar Port + Iron Ore Slurry Pipeline (March 2027 dual commissioning). It stops working if Both commissioning dates slip past September 2027, or the Vijayanagar steel expansion is deferred, removing the captive volume anchor that de-risks the Jatadhar case.

Lever 2 · Value-added mix: building. Navkar went from Rs.8 crore to Rs.118 crore EBITDA in one year and is now scaling with 25 newly commissioned GPWIS rakes generating Rs.25 crore of EBITDA in their first two operating months, the fleet is aiming for 250 rakes over three years. What proves it keeps working: Navkar Logistics Platform Scale-up. It stops working if Navkar ICD utilization falls back below 55 percent, or the 40-rake delivery (August-September 2026) is deferred, killing the Rs.150 crore FY27 rake-contribution estimate.

Lever 3 · Management change: building. Jaigarh and Dharmtar adding 26-27 million tonnes of combined capacity at brownfield IRRs of 20-21 percent, better returns than greenfield at lower capex intensity. What proves it keeps working: Brownfield Port De-bottlenecking (Jaigarh, Dharmtar, Ennore). It stops working if Dolvi steel expansion is deferred, removing the 10-15 million tonne captive throughput that anchors the Dharmtar berth business case.

Sources: our stock research file (27 June 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What JSW Infrastructure Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

FY27 Logistics EBITDA Guidance Cut · 27 October 2026. In Jan 2026, management guided FY27 logistics EBITDA of INR450-500 crores for the entire logistics business. In Oct 2026, it stated a goal of INR400 crores or slightly above INR400 crores, materially below the prior range; the accounting explanation addresses the change in margin and reported turnover but does not reconcile the lower absolute EBITDA goal.

Oman Port Project Status Appears Less Advanced Than Previously Represented · 21 July 2026. In January 2026, management said it had entered into an agreement with Minerals Development Oman to develop a 27 million tonnes per annum port backed by a USD419 million of spending. In July 2026, management said bids had only been invited and that the concession agreement remained pending completion of conditions precedent, without reconciling whether the earlier agreement was preliminary or binding.

Southwest Port Capacity Does Not Match Prior Expansion Plan · 21 July 2026. In July 2025, management said Southwest Port had environmental clearance for 15 million tonnes per annum and that the remaining state-level approval to increase capacity was being pursued. In July 2026, management reported consent to operate at only 12 million tonnes per annum, without clarifying whether the 15 million tonnes goal remains achievable or why the operating approval is lower.

Logistics EBITDA Guidance Cut While Claimed as Unchanged · 8 May 2026. In the Jan 2026 call, the CEO explicitly guided FY27 logistics EBITDA at INR450-500 crores and FY28 at INR750-800 crores, with the CFO building to these totals through a detailed component breakdown. In the May 2026 call, the CFO asserts the logistics guidance 'remains the same' while stating INR400 crores for FY27 and INR700 crores for FY28 - a reduction of approximately 16% from the CEO's FY27 midpoint of INR475 crores and 10-12% from the FY28 range midpoint, offered without any explanation for the downward revision.

Every quote above is taken word for word from the company’s own earnings calls.

JSW Infrastructure Ltd earned a ROCE of 14% in FY26. That is up from a low of 9% in FY19. Its return on capital used (ROIC) is 2.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 28.9% net margin and 0.27× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 28.9% net margin × 0.27× asset turnover × 1.86× leverage (assets divided by equity) ≈ 14.5% on equity. The margin does most of the work; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 9.4% − 12.0% = −2.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 9.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 11.3%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

JSW Infrastructure Ltd has total debt of ₹8,412 Cr against shareholder equity of ₹18,842 Cr as of Sep 2026, so its debt is 0.45× its equity. Year by year, that ratio went from 1.37 in FY22 to 0.59 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Promoters cut their stake in JSW Infrastructure Ltd by 11.7 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 73.9% of the company. Foreign institutions moved +8.3 points over the same period, to 12.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why this happened. Jaigarh is expanding from 21 to 34 million tonnes and Dharmtar from 24 to 38 million tonnes through berth civil works (Jaigarh 60 percent dredging complete) and new berth construction. Ennore coal terminal expanded from 9.6 to 11 million tonnes per annum with interim operations already contributing. The Dolvi steel expansion at 10-15 million tonnes will flow through Dharmtar. These brownfield additions improve blended portfolio returns as they capitalize at lower cost-per-tonne versus greenfield. Ennore demonstrates the repeatable model: from 8 million tonnes capacity and 3.1 million tonnes volume (FY21) to 11 million tonnes capacity and 10.4 million tonnes volume (FY26).

Over the last two years: Promoters: −11.7 points over 8 quarters, to 73.9%; Foreign institutions: +8.3 points over 8 quarters, to 12.5%; Domestic institutions: +6.0 points over 8 quarters, to 8.5%.

Why the owners changed: promoters drove it (−11.7 points), with the other side taken by foreign institutions (+8.3 points). They reduced their stake.

For JSW Infrastructure Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

45.1 out of 100, rank 3 of 3 in Marine Port & Services, with 97% of the evidence available.

JSW Infrastructure Ltd scores 45.1 out of 100 against the 3 companies it is compared with in Marine Port & Services, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 9 + 14.8 + 10.3 + 11 = 45.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

JSW Infrastructure ranks 3 of 3 Marine Port & Services companies on the 4-Factor Sector Score, with 45.1 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Marine Port & Services, all 3 compared on one page.

JSW Infrastructure is the 2nd largest of 3 Marine Port & Services companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Adani Ports & Special Economic Zone. Just below it: Gujarat Pipavav Port.

Marine Port & Services companies close in size

1. Adani Ports & Special Economic Zone Ltd ₹4,26,232 crore
2. JSW Infrastructure Ltd ₹73,651 crore
3. Gujarat Pipavav Port Ltd ₹7,691 crore

All 3 Marine Port & Services companies, largest first

Companies close in size in other industries

141. REC Ltd ₹75,205 crore · Finance - PSU Lending
142. Oil India Ltd ₹73,848 crore · Oil Drilling & Exploration
143. JSW Infrastructure Ltd ₹73,651 crore
144. Hindustan Petroleum Corporation Ltd ₹72,463 crore · Refineries
145. Phoenix Mills Ltd ₹70,008 crore · Realty - Commercial

Sector Alpha, written by code from the published numbers. Data as of 30 October 2026.

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