FY2025 PAT of ₹1,521 Crore up 31% YoY 

Bengaluru, 30 April 2025: JSW Infrastructure Limited (the “Company”), a part of the JSW Group and India’s second-largest private commercial port operator, today announced its results for the fourth quarter and year ended 31^st March 2025.

Q4 FY2025 – Key Highlights 

• Cargo Handled Volumes of 31.2 Million Tonnes, up 5% YoY
• Total Revenue increased by 14% YoY to ₹1,372 Crore
• EBITDA of ₹730 Crore an increase of 7% YoY
• Profit After Tax (PAT) of ₹516 Crore up 57% YoY

FY2025 – Key Highlights 

• Cargo Handled Volumes of 117 Million Tonnes, up 9% YoY,

–  Third Party Share increased to 49% from 40% last year

• Total Revenue increased by 20% YoY to ₹4,829 Crore
• EBITDA of ₹2,615 Crore an increase of 17% YoY
• PAT of ₹1,521 Crore up 31% YoY
• Board has recommended a dividend of ₹0.80/share, subject to shareholder’s approval
• Strong Balance Sheet

–  Net Debt/Operating EBITDA of 0.65x

–  Gross Debt of ₹4,659 Crore and Cash and Bank balance of ₹3,188 Crore

FY2025 – Key Updates

• Letter of Intent (LOI) received for Murbe Port – a greenfield port in the state of Maharashtra
• Foray into Logistics Segment with acquisition of majority stake (70.37%) in Navkar Corporation Limited
• Post the signing of the concession agreement Interim operations have begun at both the JNPA Liquid Terminal and the Tuticorin Terminal
• Acquisition of Slurry Pipeline Business completed and entered into a long term take or pay agreement with JSW Steel Ltd
• Jaigarh Port, the flagship port of the Company awarded with the “Sword of Honour” by the British Safety Council

Consolidated Financial Performance

Q4 FY2025

During the quarter, the Company handled cargo volumes of 31.2 million tonnes which is higher by 5% over the last year.

The volume increase was mainly due to robust performance at the coal terminals in Mangalore, Ennore, and Paradip, along with contributions from interim operations at the Tuticorin Terminal and the JNPA Liquid Terminal. However, this growth was partially offset by reduced cargo volumes at the Iron Ore terminal in Paradip.

The increase in the third-party volume was stronger with 11% year-on-year growth and the share of Third Party in the overall volumes stood at 50% vs 47% a year ago.

The higher volumes and consolidation of Navkar Corp’s business translated to 14% year-on-year growth in the total revenue which stood at ₹1,372 Crore. EBITDA increased to ₹730 Crore (+7% yoy) with a robust margin of 53.2%. Consequently, PAT stood at ₹516 Crore, reflecting a growth of 57%.

FY2025

During the year, the company handled cargo volumes of 117 million tonnes which is higher by 9% over the last year. The increase in the volume is primarily on the incremental volumes from the acquired assets (Fujairah Liquid Terminal and PNP Port) and increased capacity utilisation across the coal terminals at the Paradip, Ennore and Mangalore.

The third-party volumes stood at 57.3 million tonnes, implying a healthy growth of 34% Year on Year. As a result, the share of third-party in the overall volumes increased to 49% as compared to 40% a year ago.

The higher volume translated to 20% growth in the total revenue including consolidation Navkar Corp from 11^th Oct, 2024 which stood at ₹4,829 Crore. Increased revenue, the benefit of operating leverage and cost control meant EBITDA of ₹2,615 Crore (+17% YoY) with a strong margin of 54.2%. As a result, PBT grew at 23% to ₹1,803 Crore, while PAT stood at ₹1,521 Crore representing a 31% year-on-year growth.

Growth Strategy

As previously announced, the Company has embarked on a growth plan to increase its cargo handling capacity to 400 million tonnes per annum (mtpa) by FY 2030 or earlier, up from the current capacity of 177 mtpa. To achieve this, it has outlined a comprehensive capital expenditure (capex) plan of ₹30,000 crores.

Additionally, the Company has earmarked ₹9,000 crores for expanding its logistics segment. This expansion aims to build on the Navkar acquisition to develop a robust pan-India logistics network. The Company is targeting a top line of ₹8,000 crores for its logistics segment, with a 25% EBITDA margin, resulting in industry-leading Return on Capital Employed (ROCE).

With a strong balance sheet, the Company is well-positioned to pursue both organic and inorganic growth without compromising its leverage ratios.

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·         VNB grew by 6.4% to ₹ 2,370 crore in FY2025

·         Profit after Tax (PAT) registers a growth of 39.6% to ₹ 1,189 crore in FY2025

·         Strong RWRP growth of 15.2% in FY2025

·         Robust growth in retail protection of 25.1% and retail new business sum assured of 37% in FY2025

·         13th month persistency of 89.1% at FY2025

·         Total in-force sum assured witnessed a growth of 15.6% to ₹ 39 lakh crore on March 31, 2025

·         Final dividend of ₹ 0.85 per share declared

Bengaluru, 16th April 2025 : ICICI Prudential Life Insurance registered a strong growth of 39.6% in its Profit After Tax (PAT) to 1,189 crore for FY2025. The Value of New Business (VNB), which represents the present value of future profits, stood at  2,370 crore with a VNB margin of 22.8% in FY2025.

The total Annualised Premium Equivalent (APE) grew by 15% year-on-year to 10,407 crore in FY2025. Retail protection business APE grew by 25.1% year-on-year to 598 crore in FY2025. Annuity business grew at a two-year CAGR of 31.4% in FY2025. The Company’s retail New Business Sum Assured (NBSA) grew by 37% year-on-year to

3.32 lakh crore in FY2025. The total in-force sum assured, which is the quantum of life cover taken by customers of the Company, grew by 15.6% year-on-year to 39.43 lakh crore.

The Company has a well-diversified distribution network, ensuring its presence across platforms and touchpoints preferred by different customer segments. Proprietary channel which includes Agency and Direct together grew by 15.2% in FY2025.

In FY2025, APE contribution from agency, direct, bancassurance, partnership distribution, and group channels stood at 28.9%, 14.4%, 29.4%, 10.9% and 16.4% respectively.

The assets under management of the Company stood at 3.09 lakh crore as on March 31, 2025. This is an outcome of the trust reposed in the Company by customers, growth in new business, strong persistency and robust fund management.

The Company’s robust risk management framework has enabled it to have a record of zero non-performing assets since inception. The solvency ratio was 212.2% as on March 31, 2025, against the regulatory requirement of 150%.

The Board has approved a final dividend of  0.85 per equity share for FY2025.

The Company’s commitment to sustainability is central to its vision of building an enduring institution that serves the protection and long-term saving needs of customers with sensitivity.The Company continues to be the highest rated Indian insurer as per two leading ESG rating agencies. The current ESG rating of ‘AA’ ascribed by MSCI makes the Company, one of the top-rated life insurers in India.

Commenting on the results, Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said, “We are pleased to announce that we have crossed  10,000 crore APE for the first time, marking a significant milestone in our growth journey. Notably, we have also provided insurance coverage to over 9 crore lives as on March 31, 2025. Our Retail Weighted Received Premium (RWRP) growth of 15.2% in FY2025, demonstrates our ability to deliver superior performance in a competitive landscape. This has resulted in a robust year-on-year growth of 39.6% in Profit After Tax to 1,189 crore for FY2025. Our FY2025 Value of New Business stood at  2,370 crore with a margin of 22.8%.

Our nimble multi-channel distribution allows us to adapt swiftly to the shifting macro- economic conditions and launch products as per the customer demands. The same was demonstrated with the addition of ‘ICICI Pru Gift Select’, a non-par product with guaranteed income in January 2025 given the growing trend towards wealth preservation.

Our retail protection and annuity APE registered a strong 2-year CAGR of 30% plus, reflecting our focus on these segments.

Our 13th month persistency ratio of 89.1% at FY2025, underscores the customers’ trust in the Company. It is also evident by our Company topping the Net Promoter Score (NPS) across insurers for the third year in a row, as revealed in the Hansa Research’s latest Life Insurance CuES 2025 report.

We have an industry leading claim settlement ratio of 99.3% in FY2025, with an average turnaround time of 1.2 days for non-investigated individual death claims.

In line with our commitment to delivering value to our shareholders, our Embedded Value (EV) and AUM both have grown at a five-year CAGR of above 15% in FY2025, echoing the robustness of our financial foundation and long-term value creation capabilities.

Moving forward, we remain committed to enhancing customer experience through innovative product propositions, seamless onboarding, best-in-class servicing and claims settlement. Our resilient balance sheet and strong solvency position provide the stability and foundation to support sustainable growth in the years ahead.”

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