INDIA: Honeywell today introduced Honeywell Forge Performance+ for Utilities, a groundbreaking platform designed to help utilities improve their operations and enhance the performance of existing utility grid assets and IT investments. The integration of automation software for utilities supports Honeywell’s alignment of its portfolio with the automation and energy transition megatrends.

The new solution is built on Honeywell Forge, which incorporates artificial intelligence (AI), machine learning, and digital twin capabilities intended to help utilities monitor assets, effectively identify root causes, and introduce predictive analytics to become more proactive with grid asset management. Forge Performance+ for Utilities also enables automation processes like demand response and distributed energy resource management to increase grid reliability and stability.

“Honeywell Forge Performance+ for Utilities is designed to enhance existing systems, providing greater value to utility companies’ investments and supporting a seamless combination of capabilities from various tools into a single, reliable platform,” said Hamed Heyhat, President of Honeywell Smart Energy and Thermal Solutions (SETS). “Through the power of digitalization, utilities will now have access to more quality data to better serve their customers and assets.”

Most traditional utility distribution grids were designed over a century ago to support highly predictable top-down generation and distribution of energy, water, or gas to consumers, leading to a lack of data or siloed data. Today, utilities face new challenges ranging from interpreting massive amounts of Advanced Metering Infrastructure (AMI) data and grid asset data to managing the accelerating adoption of less predictable Distributed Energy Resources (DERs). These renewable energy sources include solar panels, wind turbines, energy storage systems, and electric vehicles.

Honeywell Forge Performance+ for Utilities delivers near real-time insight to help utilities improve grid operation and address variability associated with new energy sources. The solution also provides a “bottom-up” forecast of energy demand, available distributed power-generating assets, and controllable loads designed to provide heightened operational visibility. With this visibility, utilities can better balance energy supply and demand which contributes to grid reliability and resiliency.

“The industry needs an innovative solution to help store and digitalize the multiple data streams from complex utility infrastructures around the world,” said Ben Dawson of SECO Energy, a not-for-profit electric cooperative based in Central Florida. “Honeywell Forge Performance+ for Utilities’ ability to receive real-time actionable insights on one connected platform helps utilities better connect with their customers worldwide.”

The innovative platform integrates, organizes, and visualizes data from various sources to accelerate analytics processes and digitalize utility grid data into actionable, real-time business and operational insights. It can run a variety of applications, including those from both Honeywell and third-party partners such as SparkMeter.

To learn more about Honeywell Forge Performance+ for Utilities, please visit this website.

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MUMBAI: 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 2024.

Q4 FY2024 – Key Highlights

• Cargo Handled Volumes of 29.3 Million Tonnes, up 9% YoY 
• Revenue increased by 23% YoY to ₹1,200 Crore
• EBITDA of ₹685 Crore an increase of 29% YoY and an EBITDA margin of 57.1%
• Profit Before Tax (PBT) of ₹417 Crore up 41% YoY
• PAT of ₹329 Crore up 9% YoY

FY2024 – Key Highlights

• Cargo Handled Volumes of 106 Million Tonnes, up 15% YoY,
  • Third-party share increased to 40% from 33% last year   
• Revenue increased by 20% YoY to ₹4,032 Crore
• EBITDA of ₹2,234 Crore an increase of 24% YoY and an EBITDA margin of 55.4%
• Profit Before Tax (PBT) of ₹1465 Crore up 81% YoY
• PAT of ₹1,161 Crore up 55% YoY
• The Board has recommended a dividend of ₹0.55/share
• Strong Balance Sheet
  • Net Debt/EBITDA of 0.03x
  • Cash and Bank balance of ₹4,316 Crore

FY2024 – A Year of Delivering Promises

• Successful equity listing in October 2023
• Acquisition of 465,000 Cubic Meter Liquid Storage Terminal at Fujairah, UAE
• Acquired majority Stake in PNP port
• Concession agreement signed with Karnataka Maritime Board for development of a 30 mtpa greenfield port at Keni, Karnataka
• Emerged as a winner bid for a 7 mtpa dry bulk terminal in Tuticorin through PPP mode
• Signed a concession agreement with Jawaharlal Nehru Port Authority for the two liquid berths of 4.5 mtpa
• Jaigarh Port, the flagship port of the company recognized with a five-star rating by the British Safety Council

Growth Strategy

The company has embarked on a growth plan to enhance its cargo handling capacity by 2.4 times, to 400 mtpa by FY 2030 or earlier from the existing 170mtpa. This represents a compounded annual growth rate (CAGR) of 15%. The company is actively pursuing and exploring various project development opportunities, leading to a robust project pipeline. Moreover, privatization bids of terminals/berths in the major ports and the inorganic opportunities in the areas of port and port-related infrastructure are the additional levers to accelerate the growth.

The company has a strong balance sheet and is well-positioned to pursue organic and inorganic growth without compromising on its leverage ratios.

Consolidated Financial Performance Review

Q4 FY2024

During the quarter, the company handled cargo volumes of 29.3 million tonnes which is higher by 9% over the last year. The increase in the volume is primarily on the back of increased capacity utilization at the Paradip Coal Terminal and Mangalore Coal Terminal. Newly acquired assets (PNP and Liquid Terminal, UAE) also contributed to the growth. The third-party volume grew by 35% year-on-year and the share of third-party in the overall volumes stood at 46% vs 37% a year ago.

The higher volume translated to 23% growth in the total revenue which stood at ₹1,200 Crore. Increased revenue translated to EBITDA of ₹685 Crore (+29% yoy) with a strong margin of 57%.

 PBT and PAT stood at ₹417 Crore and ₹329 Crore respectively, reflecting a growth of 41% and 9% year-on-year.

FY2024

During the year, the company handled cargo volumes of 106 million tonnes which is higher by 15% over the last year. The increase in the volume is primarily on the back of increased capacity utilization at the Iron ore and Coal terminals of Paradip and Mangalore Coal Terminal. Also, volumes at the Mangalore Container terminal grew by 18%. The third-party volume grew by 36% year-on-year and the share of third parties in the overall volumes stood at 40% vs 33% a year ago.

The higher volume translated to 20% growth in the total revenue which stood at ₹4,032 Crore. Increased revenue, the benefit of operating leverage, and cost control meant EBITDA of ₹2,234 Crore (+24% YoY) with a strong margin of 55.4%. As a result, PBT grew at 81% to ₹1,465 Crore, while PAT stood at ₹1,161 Crore representing a 55% year-on-year growth.

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This MoU establishes a framework for cooperation between ICIEC and INFRA. Key initiatives include the exploration of opportunities of mutual interest within the Kingdom in line with its developmental objectives, institutional cooperation, and knowledge exchange through the continuation of dialogue and participation in relevant events. Additionally, the parties will coordinate participation in field-related activities and foster affiliations with relevant entities or professional associations to strengthen collaborative ties. Through this collaboration, ICIEC will support INFRA’s efforts to accelerate strategic infrastructure projects in the Kingdom, contributing to the goals of Saudi Vision 2030.

Oussama Kaissi, the CEO of ICIEC, expressed his pleasure about the agreement, stating, “We are delighted to enter into this collaboration with INFRA. Our joint efforts will focus on strengthening the economic frameworks within our member states. This MoU sets the tone of our shared commitment to promoting sustainable development through enhanced understanding and cooperation in insurance solutions and infrastructure development in the Kingdom.“

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This MoU focuses on leveraging ICIEC’s insurance solutions to facilitate ZTE’s supply of telecom network equipment and training to major telecom operators within ICIEC member states. ICIEC has a proven track record of facilitating critical telecom equipment supply through its specific transaction insurance solutions, as demonstrated by its successful collaboration with operators like Uzbektelecom in Uzbekistan. We are confident that this MoU will further enhance our ability to provide cutting-edge telecom infrastructure and connectivity to our member states.

Oussama Kaissi, CEO of ICIEC, stated: “We are thrilled to announce the expansion of our partnership with ZTE, a leading global provider of telecommunications equipment and network solutions. Through the signing of this MoU, we aim to further our joint efforts in bolstering the telecommunications infrastructure within ICIEC member states. Our collaboration will leverage ICIEC’s insurance solutions and ZTE’s expertise in the supply of telecom network equipment and knowledge transfer, to provide our member states with access to cutting-edge technological solutions that meet their evolving needs.”

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