JSW Energy Ltd
JSW Energy Ltd and its subsidiaries are primarily engaged in the business of generation of power from its power assets located at Karnataka, Maharashtra, Nandyal and Salboni. It is the holding company for the JSW group's power business.
The company also has a JV company engaged in mining activities and an associate engaged in manufacturing of turbines.[1]
- Market Cap ₹ 1,02,675 Cr.
- Current Price ₹ 560
- High / Low ₹ 617 / 428
- Stock P/E 114
- Book Value ₹ 138
- Dividend Yield 0.36 %
- ROCE 4.79 %
- ROE 3.68 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 34.7%
Cons
- Stock is trading at 4.06 times its book value
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -2.88%
- The company has delivered a poor sales growth of 0.89% over past five years.
- Tax rate seems low
- Company has a low return on equity of 5.22% over last 3 years.
- Earnings include an other income of Rs.985 Cr.
- Debtor days have increased from 37.8 to 54.2 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Utilities Power Power Power Generation
Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 Nifty Energy
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6,302 | 5,863 | 4,041 | 4,212 | 5,118 | 4,314 | 2,898 | 3,643 | 5,739 | 5,129 | 3,939 | 3,029 | 3,215 | |
| 4,199 | 3,697 | 3,136 | 3,505 | 4,312 | 3,417 | 2,084 | 2,597 | 4,532 | 3,411 | 2,733 | 2,015 | 2,207 | |
| Operating Profit | 2,103 | 2,165 | 905 | 707 | 806 | 897 | 814 | 1,046 | 1,207 | 1,718 | 1,207 | 1,015 | 1,007 |
| OPM % | 33% | 37% | 22% | 17% | 16% | 21% | 28% | 29% | 21% | 34% | 31% | 33% | 31% |
| 259 | 395 | 328 | -166 | 361 | 218 | 62 | 227 | 400 | 210 | 681 | 921 | 985 | |
| Interest | 586 | 644 | 533 | 476 | 412 | 322 | 210 | 127 | 260 | 478 | 365 | 886 | 929 |
| Depreciation | 421 | 354 | 364 | 364 | 365 | 369 | 358 | 328 | 317 | 270 | 243 | 225 | 230 |
| Profit before tax | 1,356 | 1,563 | 337 | -299 | 390 | 424 | 308 | 818 | 1,030 | 1,181 | 1,279 | 824 | 833 |
| Tax % | 27% | 24% | 42% | 49% | 36% | -17% | 40% | 30% | 31% | 20% | 5% | -4% | |
| 995 | 1,182 | 195 | -444 | 251 | 498 | 186 | 570 | 711 | 950 | 1,221 | 859 | 885 | |
| EPS in Rs | 6.06 | 7.21 | 1.19 | -2.71 | 1.53 | 3.03 | 1.13 | 3.47 | 4.32 | 5.78 | 6.99 | 4.89 | 5.01 |
| Dividend Payout % | 33% | 28% | 42% | 0% | 65% | 33% | 176% | 58% | 46% | 35% | 29% | 41% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -6% |
| 5 Years: | 1% |
| 3 Years: | -19% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | 37% |
| 3 Years: | 13% |
| TTM: | -20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 18% |
| 3 Years: | 15% |
| 1 Year: | 6% |
| Return on Equity | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 5% |
| 3 Years: | 5% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,640 | 1,627 | 1,628 | 1,640 | 1,641 | 1,642 | 1,642 | 1,640 | 1,641 | 1,641 | 1,745 | 1,756 |
| Reserves | 5,954 | 6,965 | 6,766 | 8,237 | 8,527 | 7,758 | 9,990 | 11,848 | 11,969 | 13,471 | 20,491 | 22,498 |
| 4,232 | 5,025 | 3,464 | 3,140 | 2,818 | 2,246 | 1,603 | 1,273 | 6,293 | 7,020 | 9,788 | 14,959 | |
| 2,192 | 3,357 | 3,361 | 2,894 | 2,524 | 1,909 | 1,481 | 1,912 | 2,047 | 2,478 | 2,102 | 1,887 | |
| Total Liabilities | 14,018 | 16,974 | 15,218 | 15,912 | 15,510 | 13,555 | 14,716 | 16,672 | 21,949 | 24,610 | 34,127 | 41,099 |
| 6,814 | 5,415 | 5,190 | 5,111 | 4,853 | 4,508 | 4,180 | 3,957 | 3,709 | 3,511 | 3,358 | 3,235 | |
| CWIP | 256 | 282 | 479 | 261 | 377 | 109 | 34 | 23 | 16 | 20 | 93 | 271 |
| Investments | 3,672 | 6,669 | 5,324 | 6,963 | 6,703 | 5,417 | 8,212 | 6,867 | 14,730 | 17,413 | 23,257 | 29,255 |
| 3,275 | 4,609 | 4,226 | 3,577 | 3,578 | 3,522 | 2,290 | 5,826 | 3,495 | 3,665 | 7,418 | 8,338 | |
| Total Assets | 14,018 | 16,974 | 15,218 | 15,912 | 15,510 | 13,555 | 14,716 | 16,672 | 21,949 | 24,610 | 34,127 | 41,099 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,622 | 2,261 | 1,409 | 846 | 397 | 31 | 1,086 | 252 | 975 | 2,266 | 833 | 689 | |
| -228 | -3,468 | 1,085 | -58 | 445 | 1,305 | -378 | 710 | -5,384 | -1,650 | -7,545 | -6,514 | |
| -1,670 | -218 | -2,475 | -807 | -733 | -1,121 | -1,011 | -881 | 4,496 | -83 | 6,993 | 5,040 | |
| Net Cash Flow | 724 | -1,425 | 18 | -18 | 109 | 215 | -304 | 82 | 87 | 533 | 280 | -785 |
| Free Cash Flow | 2,129 | 2,198 | 1,087 | 759 | 204 | 12 | 1,256 | 261 | 922 | 2,181 | 707 | 408 |
| CFO/OP | 140% | 113% | 162% | 127% | 58% | 10% | 139% | 40% | 98% | 143% | 82% | 89% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 29 | 73 | 76 | 42 | 40 | 50 | 29 | 30 | 21 | 21 | 38 | 54 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 29 | 73 | 76 | 42 | 40 | 50 | 29 | 30 | 21 | 21 | 38 | 54 |
| Working Capital Days | -82 | -203 | -181 | -157 | -118 | -40 | -128 | 271 | -157 | -182 | -367 | -833 |
| ROCE % | 16% | 17% | 7% | 7% | 6% | 6% | 4% | 7% | 6% | 8% | 6% | 5% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Installed Generation Capacity MW |
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| Thermal Plant Load Factor (PLF) % |
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| Under-construction Generation Capacity MW |
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| Locked-in Energy Storage Capacity GWh |
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| Solar Capacity Utilization Factor (CUF) % |
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| Wind Capacity Utilization Factor (CUF) % |
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Extracted by Screener AI
Documents
Announcements
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Assignment And Affirmation Of Credit Rating - JSW Mahanadi Power Company Limited
- Ind-Ra assigned and affirmed IND AA-/Stable/IND A1+ rating for JSW Mahanadi Power’s bank loans on 14 August 2026.
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Execution Of Shareholders' Agreement By JSW Neo Energy Limited With Druk Green Power Corporation Limited For The Joint Development Of The 920 MW Punatsangchhu-III Hydroelectric Project, Bhutan
- JSW Neo Energy signs SHA with DGPC for 920 MW Bhutan hydro project; 49% stake, BTN 245 million initial contribution.
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Capacity Addition
- JSW Energy adds 1,466 MW since April 2026; installed capacity reaches 14,920 MW.
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Announcement under Regulation 30 (LODR)-Change in Directorate
- JSW Energy appoints Sanjay Sagar as Additional Director, non-executive non-independent, effective 8 August 2026.
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Board Meeting Outcome for Outcome Of The Board Meeting - Appointment Of Mr. Sanjay Sagar As An Additional Director (Non-Executive, Non- Independent) Of The Company
- Board appointed Sanjay Sagar as Additional Director, Non-Executive Non-Independent, effective 8 August 2026.
Annual reports
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Financial Year 2026
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Concalls
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Jul 2026Transcript PPT
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May 2026Transcript PPT
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May 2026TranscriptAI SummaryPPT
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Jan 2026Transcript PPT
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Oct 2025Transcript PPT
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Aug 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Oct 2024TranscriptAI SummaryPPT
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Jul 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024TranscriptAI SummaryPPT
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Jan 2024TranscriptPPT REC
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Oct 2023TranscriptAI SummaryPPT
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Oct 2023Transcript PPT
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Jul 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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Oct 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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Jul 2022TranscriptAI SummaryPPT
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Oct 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Aug 2017TranscriptPPT
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Jan 2017TranscriptPPT
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Oct 2016TranscriptPPT
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Jul 2016TranscriptPPT
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Jan 2016TranscriptPPT
Business Segments
1) Thermal Energy Projects (63% in H1 FY25 vs 75% in FY22): [1] [2] The company has a total thermal power generation capacity of 3,508 MW, comprising 1,200 MW at Ratnagiri, 1,080 MW at Barmer, 860 MW at Vijayanagar, 350 MW at Utkal, and 18 MW TPP at Nandyal. {# 1600MW in salboni in west bengal https://www.bseindia.com/xml-data/corpfiling/AttachHis/1c68833c-b336-4af0-ae63-8698bc6fcb22.pdf#page=19 #}