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 ₹ 93,200 Cr.
- Current Price ₹ 533
- High / Low ₹ 805 / 419
- Stock P/E 47.8
- Book Value ₹ 157
- Dividend Yield 0.38 %
- ROCE 6.80 %
- ROE 8.10 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 19.7%
Cons
- Stock is trading at 3.41 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 7.26% over past five years.
- Tax rate seems low
- Company has a low return on equity of 7.94% over last 3 years.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -5.40%
* 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 Nifty Next 50 Nifty 500 Nifty Energy
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8,648 | 9,347 | 9,824 | 8,263 | 8,049 | 9,138 | 8,273 | 6,922 | 8,167 | 10,332 | 11,486 | 11,745 | |
5,394 | 5,723 | 5,796 | 4,939 | 5,336 | 6,283 | 5,316 | 4,009 | 4,596 | 7,050 | 6,104 | 6,525 | |
Operating Profit | 3,255 | 3,624 | 4,029 | 3,324 | 2,713 | 2,855 | 2,957 | 2,913 | 3,572 | 3,282 | 5,382 | 5,221 |
OPM % | 38% | 39% | 41% | 40% | 34% | 31% | 36% | 42% | 44% | 32% | 47% | 44% |
-179 | 196 | 340 | 221 | 47 | 398 | 376 | 248 | 575 | 674 | 472 | 917 | |
Interest | 1,206 | 1,137 | 1,498 | 1,685 | 1,456 | 1,192 | 1,051 | 896 | 777 | 844 | 2,053 | 2,269 |
Depreciation | 810 | 790 | 854 | 969 | 966 | 1,164 | 1,738 | 1,167 | 1,131 | 1,169 | 1,633 | 1,655 |
Profit before tax | 1,060 | 1,892 | 2,017 | 892 | 338 | 897 | 544 | 1,099 | 2,238 | 1,943 | 2,167 | 2,214 |
Tax % | 27% | 27% | 28% | 30% | 75% | 24% | 6% | 25% | 22% | 24% | 20% | 10% |
760 | 1,358 | 1,460 | 623 | 85 | 684 | 1,081 | 823 | 1,743 | 1,480 | 1,725 | 1,983 | |
EPS in Rs | 4.60 | 8.23 | 8.83 | 3.84 | 0.48 | 4.24 | 6.70 | 4.84 | 10.51 | 8.99 | 10.47 | 11.16 |
Dividend Payout % | 43% | 24% | 22% | 13% | 0% | 24% | 15% | 41% | 19% | 22% | 19% | 18% |
Compounded Sales Growth | |
---|---|
10 Years: | 2% |
5 Years: | 7% |
3 Years: | 13% |
TTM: | 2% |
Compounded Profit Growth | |
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10 Years: | 4% |
5 Years: | 14% |
3 Years: | 5% |
TTM: | 18% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 62% |
3 Years: | 29% |
1 Year: | -15% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 8% |
3 Years: | 8% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 1,640 | 1,640 | 1,627 | 1,628 | 1,640 | 1,641 | 1,642 | 1,642 | 1,640 | 1,641 | 1,641 | 1,745 |
Reserves | 4,931 | 5,878 | 8,077 | 8,741 | 9,470 | 10,181 | 10,004 | 12,865 | 15,775 | 16,988 | 19,191 | 25,616 |
10,106 | 9,294 | 14,862 | 14,349 | 11,883 | 10,555 | 9,840 | 8,371 | 8,943 | 25,051 | 31,573 | 50,185 | |
2,567 | 2,608 | 3,973 | 3,672 | 3,728 | 3,549 | 3,445 | 3,328 | 4,157 | 4,737 | 5,362 | 12,392 | |
Total Liabilities | 19,244 | 19,420 | 28,539 | 28,389 | 26,721 | 25,926 | 24,931 | 26,207 | 30,514 | 48,417 | 57,767 | 89,939 |
13,635 | 13,191 | 20,298 | 19,491 | 18,877 | 17,825 | 16,713 | 15,637 | 14,831 | 25,020 | 28,946 | 54,159 | |
CWIP | 615 | 454 | 321 | 531 | 294 | 400 | 391 | 473 | 2,091 | 4,788 | 10,285 | 10,277 |
Investments | 888 | 1,619 | 1,012 | 1,579 | 2,415 | 2,451 | 1,854 | 4,052 | 6,623 | 6,033 | 7,035 | 9,755 |
4,107 | 4,157 | 6,908 | 6,789 | 5,135 | 5,251 | 5,974 | 6,045 | 6,970 | 12,576 | 11,501 | 15,748 | |
Total Assets | 19,244 | 19,420 | 28,539 | 28,389 | 26,721 | 25,926 | 24,931 | 26,207 | 30,514 | 48,417 | 57,767 | 89,939 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,269 | 3,394 | 3,538 | 3,853 | 3,934 | 2,491 | 2,082 | 3,700 | 2,952 | 2,084 | 6,234 | 3,838 | |
-363 | -422 | -3,272 | -762 | -215 | -55 | 301 | -1,030 | -1,387 | -6,778 | -8,197 | -23,613 | |
-1,859 | -2,327 | -1,622 | -2,595 | -3,968 | -2,523 | -1,962 | -2,515 | -781 | 7,327 | 1,675 | 20,223 | |
Net Cash Flow | 48 | 645 | -1,357 | 496 | -249 | -87 | 421 | 155 | 784 | 2,634 | -289 | 449 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 51 | 46 | 108 | 96 | 52 | 57 | 93 | 51 | 30 | 54 | 27 | 41 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 51 | 46 | 108 | 96 | 52 | 57 | 93 | 51 | 30 | 54 | 27 | 41 |
Working Capital Days | -51 | -54 | -36 | -61 | -99 | -72 | -44 | 1 | -18 | 40 | -9 | 15 |
ROCE % | 15% | 18% | 16% | 10% | 9% | 9% | 7% | 9% | 12% | 7% | 9% | 7% |
Documents
Announcements
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Sale Of Stake In Beempow Energy Private Limited By O2 Power SG. Pte. Ltd.
6 Jun - JSW Energy sold 51% stake in Beempow for Rs. 302.66 Cr; Beempow ceases as subsidiary from 6 June 2025.
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Commissioning Of 281 MW Organic RE Capacity And Signing Power Purchase Agreement With Adani Electricity Mumbai Limited
5 Jun - JSW Energy commissions 281 MW renewable capacity; signs 25-year PPA for 250 MW wind at ₹3.65/kWh.
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Assignment Of Credit Rating - JSW Renew Energy Ten Limited
3 Jun - India Ratings assigns 'IND A/Stable/IND A1' rating to JSW Renew Energy Ten Limited debt facilities.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 May - JSW Energy to meet institutional investors in Mumbai on June 6, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Read with Schedule III Part A Para A of the SEBI Listing Regulations we enclose herewith the copies of the advertisement published in Financial Express …
Annual reports
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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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Financial Year 2012
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Financial Year 2012
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Concalls
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May 2025Transcript PPT
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Oct 2024TranscriptNotesPPT
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Jul 2024Transcript PPT REC
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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 #}