Mumbai: JSW Infrastructure Limited's subsidiary, South West Port Limited, has seen an upgrade in its credit rating for long-term bank facilities. Care Ratings Limited revised the rating from CARE AA-; Stable to CARE AA; Stable for facilities worth ₹40 crore. The rating agency released its press statement on 22 September 2026.
Rating Details
Care Ratings reaffirmed the short-term bank facilities of South West Port Limited, amounting to ₹1 crore, at CARE A1+. The long-term rating upgrade reflects the improved credit profile of the subsidiary.
South West Port Limited
South West Port Limited, acquired by the JSW Group in 2002 and integrated into JSW Infrastructure in 2010, operates two bulk cargo berths at Mormugao Port Authority in Goa. The port has an installed capacity of 8.5 million tonnes per annum and provides crucial logistical support to JSW Steel Limited’s facility in Karnataka.
JSW Infrastructure's Financial Position
The credit rating upgrade for its subsidiary comes as JSW Infrastructure itself saw its issuer rating reaffirmed at CARE AA+; Stable / CARE A1+ on 22 September 2026, reflecting healthy growth in its operations during fiscal year 2026 and the first quarter of fiscal year 2027. The company, India's second largest commercial port operator, demonstrated strong financial flexibility and low leverage. In June 2026, JSW Infrastructure successfully completed a qualified institutional placement (QIP), raising ₹7,503 crore, including a fresh issue of ₹6,555 crore designated for capacity expansion, debt reduction, and strategic growth initiatives. However, the company reported a 9.89 per cent decline in its consolidated net profit to ₹346.63 crore for the quarter ended June 2026, compared to the previous year. Despite this, revenue for the same quarter increased by 14.31 per cent to ₹1,501.63 crore. JSW Infrastructure’s shares were trading at ₹364.35 on the BSE as of 23 September 2026. The company aims to increase its total operational capacity from 183 MTPA in FY26 to 400 MTPA by 2030 and has outlined ambitious growth plans with an estimated capital outlay of ₹13,500-₹14,000 crore for fiscal years 2026-2028.
Broader Sector Developments
The Indian port sector continues to witness significant growth and development, with major ports collectively handling over 915 million tonnes of cargo as of September 2026. The Union government is actively promoting port infrastructure, allocating ₹5,165 crore to the Ministry of Ports, Shipping and Waterways in the Union Budget 2026-27, a substantial increase from the previous year. Initiatives under the PM Gati Shakti Master Plan include 182 infrastructure and connectivity projects valued at ₹1,09,018 crore. Additionally, the sector is focusing on green port development, with schemes like the Green Tug Transition Programme and electrification of port equipment. New Indian Ports Rules, 2026, have also been introduced to standardise compliance, enhance efficiency, and strengthen environmental protection.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
