JSW Infrastructure Shares in Focus After Drone Debris Damages Storage Tank at Fujairah Terminal
Drone Debris Impacts One Tank at Fujairah Liquid Terminal
Shares of JSW Infrastructure Ltd were in focus on Wednesday, March 4, after the company confirmed that one of its 15 storage tanks at the Fujairah Liquid Terminal in the UAE sustained damage due to drone debris.The company stated that the remaining 14 tanks were secured. It also confirmed that adequate insurance coverage for the facility is already in place.
Emergency Response Activated, No Injuries Reported
According to the company, emergency response procedures were immediately activated in line with established safety protocols once the debris impact was detected.Local authorities and onsite safety teams responded swiftly, and the situation was fully contained. The company clarified that no injuries were reported as a result of the incident.
A technical assessment is currently underway to evaluate the structural impact of the damage and determine the restoration plan for the affected tank.
Fujairah Terminal Capacity and Cargo Handling Details
JSW Infrastructure operates a liquid storage terminal with a capacity of 4.65 lakh cubic metres at Fujairah, UAE.During the third quarter, the Fujairah Terminal handled 0.84 million metric tonnes out of the company’s total cargo volume of 31.73 million metric tonnes.
Q3 Financial Performance
In the third quarter, JSW Infrastructure reported a 9.1 percent rise in net profit to ₹359 crore, compared with ₹329 crore in the corresponding period last year.Revenue increased by 14.2 percent to ₹1,349 crore from ₹1,181 crore in the year-ago quarter.
Earnings before interest, tax, depreciation and amortisation rose 10.1 percent to ₹643 crore from ₹584 crore. However, the EBITDA margin declined to 47.6 percent from 49.5 percent in the previous year period.
Stock Performance
Shares of JSW Infrastructure closed the previous trading session 0.8 percent lower at ₹252.85 apiece. The stock has declined 16.6 percent over the past six months.Investors are likely to monitor further developments related to the Fujairah facility and the outcome of the ongoing technical assessment.
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