JSW Energy Ltd

About

JSW Energy is engaged in the businesses of power generation, power transmission and power trading.(Source : 201903 Annual Report Page No: 68)

  • Market Cap 9,857 Cr.
  • Current Price 60.0
  • High / Low 80.0 / 34.8
  • Stock P/E 23.0
  • Book Value 57.2
  • Dividend Yield 1.67 %
  • ROCE 5.71 %
  • ROE 4.66 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 1.05 times its book value
  • Company has been maintaining a healthy dividend payout of 32.75%

Cons

  • The company has delivered a poor growth of -7.30% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 0.90% for last 3 years.
  • Promoters have pledged 44.47% of their holding.
  • Debtor days have increased from 49.78 to 67.44 days.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
939 1,135 1,017 1,311 1,199 1,497 1,111 1,143 1,064 1,092 1,016 804
736 953 882 1,129 1,030 1,186 969 897 866 881 776 618
Operating Profit 203 182 135 182 169 311 143 246 198 211 240 186
OPM % 22% 16% 13% 14% 14% 21% 13% 22% 19% 19% 24% 23%
Other Income 146 98 -529 77 140 56 90 49 87 57 28 19
Interest 128 108 119 109 109 101 93 86 89 80 67 67
Depreciation 93 89 89 91 92 92 91 92 93 93 91 90
Profit before tax 128 83 -602 59 108 174 49 116 102 96 110 48
Tax % 44% 38% -3% 34% 35% 35% 43% 35% 37% -174% 13% 41%
Net Profit 72 52 -619 39 71 114 28 75 65 263 95 28
EPS in Rs 0.44 0.31 -3.77 0.24 0.43 0.69 0.17 0.46 0.39 1.60 0.58 0.17
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,573 2,346 3,834 4,961 6,350 5,757 6,302 5,863 4,041 4,212 5,118 4,314 3,976
729 1,059 2,304 3,796 4,284 3,817 4,233 3,700 3,136 3,685 4,314 4,028 3,141
Operating Profit 844 1,288 1,530 1,165 2,066 1,940 2,068 2,163 905 527 804 286 834
OPM % 54% 55% 40% 23% 33% 34% 33% 37% 22% 12% 16% 7% 21%
Other Income 3 68 112 12 174 -43 294 398 329 15 363 830 191
Interest 120 262 341 508 572 628 586 644 533 476 412 322 302
Depreciation 60 124 212 377 425 453 421 354 364 364 365 369 367
Profit before tax 667 969 1,089 291 1,244 817 1,356 1,563 337 -299 390 424 356
Tax % 13% 13% 19% 19% 20% 26% 27% 24% 42% -49% 36% -17%
Net Profit 578 847 886 235 993 602 995 1,182 195 -444 251 498 451
EPS in Rs 5.16 5.40 1.43 6.05 3.67 6.06 7.21 1.19 -2.71 1.53 3.03 2.74
Dividend Payout % 0% 15% 19% 35% 33% 54% 33% 28% 42% 0% 65% 33%
Compounded Sales Growth
10 Years:6%
5 Years:-7%
3 Years:2%
TTM:-20%
Compounded Profit Growth
10 Years:-6%
5 Years:-14%
3 Years:34%
TTM:49%
Stock Price CAGR
10 Years:-7%
5 Years:-8%
3 Years:-11%
1 Year:-12%
Return on Equity
10 Years:7%
5 Years:3%
3 Years:1%
Last Year:5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
547 1,640 1,640 1,640 1,640 1,640 1,640 1,627 1,628 1,640 1,641 1,642
Reserves 1,418 3,727 4,385 4,519 5,133 5,363 5,954 6,965 6,766 8,237 8,527 7,758
Borrowings 2,331 2,105 5,469 5,368 5,410 4,939 4,232 5,025 3,464 3,140 2,818 2,246
416 800 1,542 2,916 2,931 2,331 2,192 3,357 3,361 2,894 2,524 1,909
Total Liabilities 4,712 8,272 13,036 14,443 15,114 14,272 14,018 16,974 15,218 15,912 15,510 13,555
568 2,265 4,725 6,915 6,946 6,909 6,814 5,415 5,190 5,111 4,853 4,508
CWIP 1,880 174 2,743 801 791 467 256 282 479 261 377 109
Investments 1,940 4,310 2,287 2,488 2,895 2,934 3,672 6,669 5,324 6,963 6,703 5,417
324 1,523 3,282 4,238 4,482 3,962 3,275 4,609 4,226 3,577 3,578 3,522
Total Assets 4,712 8,272 13,036 14,443 15,114 14,272 14,018 16,974 15,218 15,912 15,510 13,555

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
714 917 1,052 1,688 943 1,559 2,622 2,261 1,409 846 397 30
-1,357 -1,414 -2,209 -909 -359 -25 -228 -3,468 1,085 -58 445 1,305
574 2,233 475 -998 -634 -1,482 -1,670 -218 -2,475 -807 -733 -1,120
Net Cash Flow -70 1,736 -682 -220 -49 51 724 -1,425 18 -18 109 215

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 25% 20% 15% 8% 16% 15% 16% 17% 7% 7% 6% 6%
Debtor Days 26 42 51 45 76 63 29 73 76 42 40 67
Inventory Turnover 19.98 6.50 5.69 5.88 7.05 9.36 8.74 6.59 5.32 6.63 10.01 6.96

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
74.99 74.99 74.98 74.96 74.95 74.95 74.93 74.91 74.89 74.89 74.87 74.87
6.36 6.04 6.18 6.12 6.11 6.67 6.86 6.62 7.18 7.49 6.70 5.82
6.94 8.12 8.49 8.44 8.53 8.35 8.39 8.96 8.84 8.89 9.43 8.30
11.70 10.85 10.34 10.45 10.37 10.02 9.81 9.47 9.06 8.70 8.95 10.96
0.01 0.00 0.01 0.04 0.03 0.01 0.02 0.04 0.04 0.03 0.05 0.05

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