JITFINFRA - JITF Infra Logis

📊 NSE: JITFINFRA 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 8:39

💰 Financial Performance

Revenue Growth by Segment

The Company operates in a single primary business segment, 'Management Support Services', which saw a consolidated revenue decline of 10.66% YoY to INR 2,264.81 Cr in FY25 from INR 2,535.18 Cr in FY24. Standalone revenue grew 15.27% to INR 3.70 Cr.

Geographic Revenue Split

Not disclosed in available documents, though operations and projects are spread across India including Guwahati, Ranchi, Nashik, and Raipur.

Profitability Margins

Consolidated PAT margin turned negative at -1.08% in FY25 (Net Loss of INR 24.43 Cr) compared to a positive margin of 1.86% in FY24 (Net Profit of INR 47.03 Cr). Standalone net profit margin was 7.69% in FY25.

EBITDA Margin

Consolidated EBITDA margin improved to 19.94% in FY25 from 17.62% in FY24, despite a revenue drop, as absolute EBITDA grew 1.09% to INR 451.50 Cr.

Capital Expenditure

Not disclosed in available documents, but the company completed three major water infrastructure projects (Byrama, Patyora, Guwahati C3) and has 8 more planned for FY26.

Credit Rating & Borrowing

Consolidated finance costs rose 18.09% YoY to INR 352.19 Cr in FY25, significantly impacting PBT which fell 77.79% to INR 20.48 Cr.

⚙️ Operational Drivers

Raw Materials

Construction materials for water and waste infrastructure (including iron and steel components from subsidiary Quality Iron and Steel Limited). Specific % of total cost not disclosed.

Capacity Expansion

JWIL Infra (subsidiary) completed 3 projects in FY25 and aims to complete 8 more projects in FY26, including sites at Ranchi, Nagapattinam, and Nashik.

Manufacturing Efficiency

Focus on automation, digitalization, and operational efficiency initiatives within the JWIL subsidiary to optimize project performance.

📈 Strategic Growth

Growth Strategy

Growth is targeted through the completion of 8 major infrastructure projects in FY26, focus on automation/digitalization, and the strategic disinvestment of non-core assets like Jindal Rail Infrastructure Limited (JRIL) for INR 464.36 Cr to streamline the portfolio.

Products & Services

Management support services, water supply infrastructure development, urban waste management, and waste-to-energy services.

Brand Portfolio

JITF, JWIL.

New Products/Services

8 new infrastructure projects planned for FY26 completion including Chhitakhudari, Guwahati C1, and Isarda projects.

Market Expansion

Expansion of water infrastructure footprint into new regions such as Nagapattinam, Chidambaram, and Nashik.

Strategic Alliances

Disinvestment of JRIL to Texmaco Rail & Engineering Limited for a consideration of INR 464.36 Cr.

🌍 External Factors

Industry Trends

The infrastructure sector is shifting toward automation and digitalization to enhance operational reliability and safety.

Competitive Landscape

Facing growing competition which poses a risk to future profitability margins.

Competitive Moat

Moat is built on sectoral experience, cutting-edge technology access, and strong client relationships, which provide a competitive advantage against growing industry competition.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by concession agreements for O&M; non-extension of these agreements (e.g., Naya Raipur) poses significant regulatory risk.

Environmental Compliance

Focus on urban waste management and waste-to-energy projects indicates high alignment with environmental regulations.

Legal Contingencies

Arbitral award on May 21, 2025, for the Bathinda project held contract termination illegal; Naya Raipur concession agreement has not been extended since January 2018, creating material uncertainty.

⚠️ Risk Analysis

Key Uncertainties

Material uncertainty exists regarding the 'Going Concern' status of JITF Water Infra (Naya Raipur) Limited due to the non-extension of its O&M concession agreement.