Integrated Filing — IndAS



General information about company

Scrip Code 540311
NSE Symbol JITFINFRA
MSEI Symbol NA
ISIN INE863T01013
Name of company JITF INFRALOGISTICS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 04-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 14-11-2025   15:00:00
End date and time of board meeting 14-11-2025   17:15:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 53,753.10 1,08,769.54
Other income 1,081.12 2,028.31
Total income 54,834.22 1,10,797.85
2 Expenses
(a) Cost of materials consumed 14,455.30 34,439.36
(b) Purchases of stock-in-trade 1,485.23 2,101.85
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (14.29) (1,466.55)
(d) Employee benefit expense 4,732.22 9,758.19
(e) Finance costs 10,149.57 20,242.82
(f) Depreciation, depletion and amortisation expense 2,451.66 4,871.21
(f) Other Expenses
1 Construction Expenses 17,259.39 31,169.61
2 Other expenses 4,266.38 8,199.21
Total other expenses 21,525.77 39,368.82
Total expenses 54,785.46 1,09,315.70
3 Total profit before exceptional items and tax 48.76 1,482.15
4 Exceptional items 0.00 0.00
5 Total profit before tax 48.76 1,482.15
6 Tax expense
7 Current tax 598.64 1,444.73
8 Deferred tax 1,050.96 2,105.06
9 Total tax expenses 1,649.60 3,549.79
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (1,600.84) (2,067.64)
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 2.07 (1.98)
16 Total profit (loss) for period (1,598.77) (2,069.62)
17 Other comprehensive income net of taxes (33.05) (47.79)
18 Total Comprehensive Income for the period (1,631.82) (2,117.41)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent (1,792.77) (2,905.64)
Total profit or loss, attributable to non-controlling interests 194.00 836.02
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent (1,815.11) (2,937.02)
Total comprehensive income for the period attributable to owners of parent non-controlling interests 183.29 819.61
21 Details of equity share capital
Paid-up equity share capital 514.07 514.07
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -6.97 -11.3
Diluted earnings (loss) per share from continuing operations -6.97 -11.3
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -6.97 -11.3
Diluted earnings (loss) per share from continuing and discontinued operations -6.97 -11.3
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes:- 1The Group had four primary segments i.e. Rail Freight Wagons, Water Infrastructure, Urban Infrastructure and Trading activities. However, one segment i.e. Rail Freight Wagons (refer note 3 below) was disinvested to Texmaco Rail & Engineering Limited on 3rd September 2024 and thus the company has now three primary segments i.e. Water Infrastructure, Urban Infrastructure and Trading activities.2(a) The Arbitration proceedings invoked against Municipal Corporations (MC), Jalandhar & Ferozepur by JITF Urban Waste Management (Jalandhar) Limited and JITF Urban Waste Management (Ferozepur) Limited (hereinafter together referred to as JUWML) relating to the Jalandhar and Ferozepur projects respectively. The Hon'ble Arbitral Tribunal on 15th January 2022 delivered and passed Awards of Rs. 20444.21 lakhs (including Bank Guarantee of Rs. 500 lakhs) and Rs. 9229.35 lakhs (including Bank Guarantee of Rs. 340 lakhs) along with interest, in favour of respective companies.The MC, Jalandhar & Ferozepur filed objection Petition U/s 34 of the arbitration and conciliation Act, 1996 with interim stay application before District Court, Chandigarh, challenging the Award dated 15th January, 2022 passed in favour of JUWML. The said petition U/s 34 & interim stay application filed by MC, Jalandhar & Ferozepur have been dismissed by District Court, Chandigarh on 08.01.2024 and appeal U/s 37 against the said order is still pending before High Court Chandigarh. The JUWML also challenged some portion of the award under Section 34 and also filed application for enforcement of arbitral award before the District Court, Chandigarh which are pending for disposal. (b) The Concessioning Authority i.e. Municipal Corporation, Bathinda (MCB) did not fulfil their contractual obligations of the Concession Agreement and thus they did not rectify the Events of Default as raised by one of the step down subsidiary of the Company namely JITF Urban Waste Management (Bathinda) Ltd. (JUWMBL) in the Consultation Notice, within 90 days as prescribed under the Concession Agreement dated 23.11.2011, the JUWMBL issued a Termination Notice on 05.12.2018 w.e.f. 19.01.2019.Since the disputes between the JUWMBL and MCB & Department of Local Government, Govt. of Punjab (DoLG) continued to persist, JUWMBL invoked the Arbitration Clause of the Concession Agreement vide Notice of Arbitration dated 19.03.2019, against the MCB and other Respondents. JUWMBL filed Statement of Claim before Arbitral Tribunal and MCB also filed counterclaim during the proceedings for adjudication.The Arbitral Award in this matter was pronounced on 21.05.2025, wherein the Tribunal has held that termination of the contract by JUWMBL is illegal and required to continue to perform the contract till the expiry of the concession period or early termination in a valid manner.The Tribunal further awarded the claim for tipping fee of Rs. 183.57 lacs along with interest in favour of JUWMBL. The MCB'S counterclaim for land lease payment of Rs. 8.11 lacs together with interest from the date of filing of the Counterclaim on 31.07.2019 has also been accepted by Arbitral Tribunal.Currently, JUWMBL is continuing its operations and objection petition under section 34 filed before the District Court Chandigarh against the arbitral award dated 21.05.2025, which is pending of disposal.3(a) In the financial year 2024-25, the shareholders of the Company had accorded their consent to the Board of Directors of the Company and JITF Urban Infrastructure Services Limited (JUISL), a material subsidiary of the Company, for disinvestment of the equity shares held by JUISL in Jindal Rail Infrastructure Limited (JRIL), a wholly owned subsidiary of JUISL. The subsidiary of the company i.e. JUISL has completed sale transaction of its Investment in step down subsidiary namely JRIL with Texmaco Rail & Engineering Limited under Securities Purchase agreement dated 25th July 2024 on 3rd September 2024 and has received the sale consideration of Rs 46435.65 lakhs and thus JRIL is no longer a subsidiary of the Company with effect from 3rd September 2024. Accordingly, the consolidated financials of the group include financials of JRIL till 2nd September 2024 and profit of Rs.13414.95 lakhs on this has been presented as exceptional item in consolidated financial results. (b) In accordance with Ind AS 105 Non-current Assets held for Sale and Discontinued Operations, assets and liabilities of business operation forming part of disposal of JRIL have been considered as part of discontinued operations.The results of discontinued operations - JRIL (including discontinued operations of earlier periods) are disclosed in the table:(? Lakhs)S. No.Particulars Period Ended 02.09.2024(Audited)1Total Income36848.032Total Expenses31097.063Profit(+)/Loss (-) before Tax, Exceptional items (1 - 2)5750.974Exceptional Items (Gain)/ Loss-5Profit/(loss) before tax (4-5)5750.976Less: Tax Expense1439.597Net Profit (+)/Loss (-) after tax (5- 6)4311.388Other Comprehensive Income -i) Item that will not be reclassified to profit or loss (Net of Tax)59.97ii) Item that will be reclassified to profit or loss-9Total Comprehensive Income for the period (7 +8)4The Group consolidated financial results includes the results of the following entities:RelationshipName of the EntityHolding CompanyJITF Infralogistics LimitedSubsidiariesDirect Subsidiaries a) JITF Urban Infrastructure Services Limited Indirect Subsidiaries b) JWIL Infra Limited c) JITF Urban Infrastructure Limited d) JWIL Infra Projects Limited e) Quality Iron and Steel Limited f) Jindal Urban Waste Management Limited g) JITF Water Infra (Naya Raipur) Limited h) JITF ESIPL CETP (Sitarganj) Limited i) JITF Urban Waste Management (Ferozepur) Limited j) JITF Urban Waste Management (Jalandhar) Limited k) JITF Urban Waste Management (Bathinda) Limited l) Jindal Urban Waste Management (Visakhapatnam) Limited m) Jindal Urban Waste Management (Guntur) Limited n) Timarpur- Okhla Waste Management Company Limited o) Jindal Urban Waste Management (Jaipur) Limited p) Jindal Urban Waste Management (Jodhpur) Limited q) Jindal Urban Waste Management (Bawana) Limited r) Jindal Urban Waste Management (Ahmedabad) Limited s) Tehkhand Waste to Electricity Project Limited t) Jindal Urban Waste Management (Nellore) Limited (w.e.f 26.07.2025)u) Jindal Urban Waste Management (Kakinada) Limited (w.e.f 31.07.2025)v) Tuticorn Desal Private Limited (w.e.f. 29.09.2025)Joint VentureJoint Venture of Indirect Subsidiaries a) JWIL-SSIL (JV) b) SMC-JWIL (JV) c) JWIL-Ranhill (JV) d) TAPI-JWIL (JV) e) MEIL-JWIL (JV) f) JWIL-SPML (JV) g) OMIL-JWIL-VKMCPL (JV) h) KNK-JWIL (JV) i) SPML -JWIL (JV)j) JWIL LCC (JV)k) JWIL OMIL SPML(JV)l) JWIL VKMCPL (JV)m) JWIL SSG (JV) (w.e.f. 28.01.2025)n) JWIL- SPML Consortium (w.e.f. 02.06.2025)5These results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 14th November, 2025.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 26,334.39
Capital work-in-progress 695.76
Investment property
Goodwill 3.60
Other intangible assets 1,58,801.26
Intangible assets under development 10,736.14
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 105.59
Trade receivables, non-current 14,484.19
Loans, non-current 10,673.62
Other non-current financial assets 9,461.17
Total non-current financial assets 34,724.57
Deferred tax assets (net) 9,952.06
Other non-current assets 1,068.52
Total non-current assets 2,42,316.30
2 Current assets
Inventories 6,105.17
Current financial asset
Current investments 0.00
Trade receivables, current 95,519.77
Cash and cash equivalents 9,959.82
Bank balance other than cash and cash equivalents 20,329.08
Loans, current 559.32
Other current financial assets 55,801.19
Total current financial assets 1,82,169.18
Current tax assets (net) 1,627.87
Other current assets 12,264.94
Total current assets 2,02,167.16
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 4,44,483.46
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 514.07
Other equity (54,529.59)
Total equity attributable to owners of parent (54,015.52)
Non controlling interest 3,928.33
Total equity (50,087.19)
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 3,23,554.15
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 5,474.59
Total non-current financial liabilities 3,29,028.74
Provisions, non-current 978.86
Deferred tax liabilities (net) 5,818.37
Deferred government grants, Non-current 0.00
Other non-current liabilities 22,834.54
Total non-current liabilities 3,58,660.51
Current liabilities
Current financial liabilities
Borrowings, current 64,859.83
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1,689.73
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 38,631.23
Total Trade payable 40,320.96
Other current financial liabilities 13,417.02
Total current financial liabilities 1,18,597.81
Other current liabilities 16,930.98
Provisions, current 381.35
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 1,35,910.14
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 4,94,570.65
Total equity and liabilites 4,44,483.46
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Water Infrastructure 41,333.74 85,663.25
2 Urban Infrastructure 11,228.12 21,915.05
3 Trading Activities 1,191.24 1,191.24
4 Others 0.00 0.00
Total Segment Revenue 53,753.10 1,08,769.54
Less: Inter segment revenue
Revenue from operations 53,753.10 1,08,769.54
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Water Infrastructure 5,008.80 10,341.75
2 Urban Infrastructure 4,522.17 10,019.10
3 Trading Activities 0.00 0.00
4 Others (411.95) (666.43)
Total Profit before tax 9,119.02 19,694.42
i. Finance cost 9,460.66 18,806.03
ii. Other Unallocable Expenditure net off Unallocable income (392.41) (591.72)
Profit before tax 50.77 1,480.11
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Water Infrastructure 1,86,747.72 1,86,747.72
2 Urban Infrastructure 2,34,184.83 2,34,184.83
3 Trading Activities 0.00 0.00
4 Others 597.35 597.35
Total Segment Asset 4,21,529.90 4,21,529.90
Un-allocable Assets 22,953.54 22,953.54
Net Segment Asset 4,44,483.44 4,44,483.44
4 Segment Liabilities
Segment Liabilities
1 Water Infrastructure 71,855.40 71,855.40
2 Urban Infrastructure 28,125.47 28,125.47
3 Trading Activities 0.00 0.00
4 Others 357.44 357.44
Total Segment Liabilities 1,00,338.31 1,00,338.31
Un-allocable Liabilities 3,94,232.32 3,94,232.32
Net Segment Liabilities 4,94,570.63 4,94,570.63
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 (i) Re-measurement gains (losses) on defined benefit plans -1048000 -2228000
Total Amount of items that will not be reclassified to profit and loss (10.48) (22.28)
2 Income tax relating to items that will not be reclassified to profit or loss (2.64) (5.62)
3 Amount of items that will be reclassified to profit and loss
1 (i) Exchange difference in translating the financial statements of foreign operations -2521000 -3113000
Total Amount of items that will be reclassified to profit and loss (25.21) (31.13)
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income (33.05) (47.79)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 1,482.15
Adjustments for reconcile profit (loss)
Adjustments for finance costs 20,242.82
Adjustments for decrease (increase) in inventories (2,463.52)
Adjustments for decrease (increase) in trade receivables, current (11,789.88)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (10,675.39)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (14,667.69)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 4,871.21
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (1,402.05)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (15,884.50)
Net cash flows from (used in) operations (14,402.35)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 1,757.19
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (16,159.54)
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 12.25
Purchase of property, plant and equipment 9,477.29
Proceeds from sales of investment property 43.84
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 690.74
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 1,408.59
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 2,398.36
Net cash flows from (used in) investing activities (4,923.51)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 38,118.10
Repayments of borrowings 0.00
Payments of lease liabilities 0.00
Dividends paid 373.73
Interest paid 20,086.92
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 17,657.45
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (3,425.60)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (3,425.60)
Cash and cash equivalents cash flow statement at beginning of period 13,385.42
Cash and cash equivalents cash flow statement at end of period 9,959.82





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Unaudited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 LODHA & CO LLP Yes 31-03-2027