JSW Infrastructure IPO: Why profit after tax has doubled to Rs 750 crore in FY23? CEO Arun Maheshwari explains
The firm has also seen an increase in utlilisation of assets from 45% to 57% in the last fiscal. That also added to the bottomline and topline of the company, said Maheshwari.
- Sep 26, 2023,
- Updated Sep 26, 2023 6:47 PM IST
The ongoing initial public offer (IPO) of JSW Infrastructure has brought the spotlight on the company’s stellar set of financials in the last fiscal. The company’s profit after tax (PAT) more than doubled to Rs 749.51 crore in FY 23 against Rs 330.44 crore in FY 22. Revenue too climbed 41.79% to Rs 3372.85 crore in FY23 from Rs 2378.74 crore in FY22. In BTTV’s stock market show Market Today, Joint MD & CEO of JSW Infrastructure Arun Maheshwari talked about the how the company managed to clock a 126.82% rise in PAT in the last fiscal.
The exchange gain was recorded after doing entry in terms of Indian Accounting Standards for FCNR loan and $400 million bonds led to a huge surge in profit for the last fiscal, said Maheshwari. Adding to that, the commercial port operator has seen a decline in interest costs which added to the bottomline of the JSW Group firm in the last fiscal.
Citing another factor behind the rise in FY23 PAT, Maheshwari said the firm has also seen an increase in utlilisation of assets from 45% to 57% in the last fiscal. That also added to the bottomline and topline of the company.
Maheshwari was also hopeful that going forward, the company will be able to maintain this kind of healthy growth in PAT.
Meanwhile, JSW Infra IPO was subscribed 1.66 times till 3:50 pm on its second day today. The issue received bids for 22.58 crore shares against an issue size of 13.62 crore shares. The portion meant for retail investors was subscribed 3.98 times. The QIB portion was booked 0.46 times the allotted quota for that category.
On the first day of IPO on Monday, the issue was subscribed 43% . The IPO received bids for 5,82,62,148 shares against 13,62,83,186 shares on offer, according to NSE data.
The category for retail individual investors was subscribed 1.38 times while the quota for non-institutional investors received 60 per cent subscription. The portion for Qualified Institutional Buyers (QIBs) received 3 per cent subscription.
The shares are being offered in a price band of Rs 113-119 apiece in the IPO which will conclude on September 27 (Wednesday). The issue has a lot size of 126 equity shares and its multiples thereafter. The IPO is entirely a sale of fresh issue of about 23.53 crore equity shares and the company is looking to raise Rs 2,800 crore via IPO route.
A day ahead of the IPO, JSW Infra raised Rs 1,260 crore from 65 anchor investors and issued 10,58,82,352 shares at a price of Rs 119 per share.
Also read: Hot stocks on September 26, 2023: Cochin Shipyard, Apar Industries, IFCI, Delta Corp, and more
The ongoing initial public offer (IPO) of JSW Infrastructure has brought the spotlight on the company’s stellar set of financials in the last fiscal. The company’s profit after tax (PAT) more than doubled to Rs 749.51 crore in FY 23 against Rs 330.44 crore in FY 22. Revenue too climbed 41.79% to Rs 3372.85 crore in FY23 from Rs 2378.74 crore in FY22. In BTTV’s stock market show Market Today, Joint MD & CEO of JSW Infrastructure Arun Maheshwari talked about the how the company managed to clock a 126.82% rise in PAT in the last fiscal.
The exchange gain was recorded after doing entry in terms of Indian Accounting Standards for FCNR loan and $400 million bonds led to a huge surge in profit for the last fiscal, said Maheshwari. Adding to that, the commercial port operator has seen a decline in interest costs which added to the bottomline of the JSW Group firm in the last fiscal.
Citing another factor behind the rise in FY23 PAT, Maheshwari said the firm has also seen an increase in utlilisation of assets from 45% to 57% in the last fiscal. That also added to the bottomline and topline of the company.
Maheshwari was also hopeful that going forward, the company will be able to maintain this kind of healthy growth in PAT.
Meanwhile, JSW Infra IPO was subscribed 1.66 times till 3:50 pm on its second day today. The issue received bids for 22.58 crore shares against an issue size of 13.62 crore shares. The portion meant for retail investors was subscribed 3.98 times. The QIB portion was booked 0.46 times the allotted quota for that category.
On the first day of IPO on Monday, the issue was subscribed 43% . The IPO received bids for 5,82,62,148 shares against 13,62,83,186 shares on offer, according to NSE data.
The category for retail individual investors was subscribed 1.38 times while the quota for non-institutional investors received 60 per cent subscription. The portion for Qualified Institutional Buyers (QIBs) received 3 per cent subscription.
The shares are being offered in a price band of Rs 113-119 apiece in the IPO which will conclude on September 27 (Wednesday). The issue has a lot size of 126 equity shares and its multiples thereafter. The IPO is entirely a sale of fresh issue of about 23.53 crore equity shares and the company is looking to raise Rs 2,800 crore via IPO route.
A day ahead of the IPO, JSW Infra raised Rs 1,260 crore from 65 anchor investors and issued 10,58,82,352 shares at a price of Rs 119 per share.
Also read: Hot stocks on September 26, 2023: Cochin Shipyard, Apar Industries, IFCI, Delta Corp, and more