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 ₹ 1,01,180 Cr.
- Current Price ₹ 552
- High / Low ₹ 617 / 428
- Stock P/E 50.4
- Book Value ₹ 175
- Dividend Yield 0.36 %
- ROCE 8.16 %
- ROE 7.51 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 23.0% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 17.5%
Cons
- Stock is trading at 3.15 times its book value
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -2.89%
- Tax rate seems low
- Company has a low return on equity of 7.72% over last 3 years.
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,347 | 9,824 | 8,263 | 8,049 | 9,138 | 8,273 | 6,922 | 8,167 | 10,332 | 11,486 | 11,745 | 18,901 | 18,965 | |
| 5,723 | 5,796 | 4,939 | 5,336 | 6,283 | 5,316 | 4,009 | 4,596 | 7,050 | 6,104 | 6,524 | 8,833 | 8,816 | |
| Operating Profit | 3,624 | 4,029 | 3,324 | 2,713 | 2,855 | 2,957 | 2,913 | 3,572 | 3,282 | 5,382 | 5,221 | 10,068 | 10,149 |
| OPM % | 39% | 41% | 40% | 34% | 31% | 36% | 42% | 44% | 32% | 47% | 44% | 53% | 54% |
| 196 | 340 | 221 | 47 | 398 | 376 | 248 | 575 | 674 | 472 | 916 | 920 | 884 | |
| Interest | 1,137 | 1,498 | 1,685 | 1,456 | 1,192 | 1,051 | 896 | 777 | 844 | 2,053 | 2,269 | 5,816 | 6,030 |
| Depreciation | 790 | 854 | 969 | 966 | 1,164 | 1,738 | 1,167 | 1,131 | 1,169 | 1,633 | 1,655 | 3,185 | 3,336 |
| Profit before tax | 1,892 | 2,017 | 892 | 338 | 897 | 544 | 1,099 | 2,238 | 1,943 | 2,167 | 2,214 | 1,986 | 1,666 |
| Tax % | 27% | 28% | 30% | 75% | 24% | 6% | 25% | 22% | 24% | 20% | 10% | -39% | |
| 1,358 | 1,460 | 623 | 85 | 684 | 1,081 | 823 | 1,743 | 1,480 | 1,725 | 1,983 | 2,762 | 2,459 | |
| EPS in Rs | 8.23 | 8.83 | 3.84 | 0.48 | 4.24 | 6.70 | 4.84 | 10.51 | 8.99 | 10.47 | 11.16 | 12.74 | 11.11 |
| Dividend Payout % | 24% | 22% | 13% | 0% | 24% | 15% | 41% | 19% | 22% | 19% | 18% | 16% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 22% |
| 3 Years: | 22% |
| TTM: | 35% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 23% |
| 3 Years: | 19% |
| TTM: | -8% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 18% |
| 3 Years: | 23% |
| 1 Year: | 4% |
| Return on Equity | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 8% |
| 3 Years: | 8% |
| Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 5,878 | 8,077 | 8,741 | 9,470 | 10,181 | 10,004 | 12,865 | 15,775 | 16,988 | 19,191 | 25,616 | 28,995 |
| 9,294 | 14,862 | 14,349 | 11,883 | 10,555 | 9,840 | 8,371 | 8,943 | 25,051 | 31,573 | 50,185 | 76,946 | |
| 2,608 | 3,973 | 3,672 | 3,728 | 3,549 | 3,445 | 3,328 | 4,157 | 4,737 | 5,362 | 11,909 | 16,110 | |
| Total Liabilities | 19,420 | 28,539 | 28,389 | 26,721 | 25,926 | 24,931 | 26,207 | 30,514 | 48,417 | 57,767 | 89,455 | 123,807 |
| 13,191 | 20,298 | 19,491 | 18,877 | 17,825 | 16,713 | 15,637 | 14,831 | 25,020 | 28,946 | 54,155 | 74,523 | |
| CWIP | 454 | 321 | 531 | 294 | 400 | 391 | 473 | 2,091 | 4,788 | 10,285 | 10,281 | 17,465 |
| Investments | 1,619 | 1,012 | 1,579 | 2,415 | 2,451 | 1,854 | 4,052 | 6,623 | 6,033 | 7,035 | 9,755 | 11,379 |
| 4,157 | 6,908 | 6,789 | 5,135 | 5,251 | 5,974 | 6,045 | 6,970 | 12,576 | 11,501 | 15,264 | 20,441 | |
| Total Assets | 19,420 | 28,539 | 28,389 | 26,721 | 25,926 | 24,931 | 26,207 | 30,514 | 48,417 | 57,767 | 89,455 | 123,807 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,394 | 3,538 | 3,853 | 3,934 | 2,491 | 2,082 | 3,700 | 2,952 | 2,084 | 6,234 | 3,838 | 9,898 | |
| -422 | -3,272 | -762 | -215 | -55 | 301 | -1,030 | -1,387 | -6,778 | -8,197 | -22,990 | -18,523 | |
| -2,327 | -1,622 | -2,595 | -3,968 | -2,523 | -1,962 | -2,515 | -781 | 7,327 | 1,675 | 20,223 | 10,617 | |
| Net Cash Flow | 645 | -1,357 | 496 | -249 | -87 | 421 | 155 | 784 | 2,634 | -289 | 1,072 | 1,993 |
| Free Cash Flow | 3,034 | 3,503 | 3,484 | 3,815 | 2,273 | 1,989 | 3,358 | 658 | -2,152 | -1,798 | -2,868 | -213 |
| CFO/OP | 106% | 95% | 123% | 151% | 94% | 76% | 133% | 95% | 74% | 123% | 80% | 101% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 46 | 108 | 96 | 52 | 57 | 93 | 51 | 30 | 54 | 27 | 41 | 31 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 46 | 108 | 96 | 52 | 57 | 93 | 51 | 30 | 54 | 27 | 41 | 31 |
| Working Capital Days | -60 | -95 | -61 | -100 | -72 | -44 | -14 | -108 | -159 | -124 | -200 | -268 |
| ROCE % | 18% | 16% | 10% | 9% | 9% | 7% | 9% | 12% | 7% | 9% | 6% | 8% |
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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| 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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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
1d - Monitoring agency reports for quarter ended 30 June 2026 show no deviation in issue proceeds usage.
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Upgrade And Affirmation Of Credit Rating - JSW Energy (Utkal) Limited
1d - Ind-Ra affirmed JSW Energy (Utkal) loan rating and upgraded unsupported rating to IND AA-/Stable.
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Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Results Presentation in connection with the unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June 2026
- Outcome Of The Board Meeting Held On 22Nd July 2026 2d
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Board Meeting Outcome for Outcome Of The Board Meeting Held On 22Nd July 2026
2d - Board approved Q1 FY27 unaudited standalone and consolidated results on 22 July 2026; limited review reports attached.
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 2026TranscriptAI SummaryPPT
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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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Oct 2024TranscriptAI SummaryPPT
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Jul 2024Transcript PPT REC
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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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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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Jan 2022TranscriptPPT
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Oct 2021TranscriptPPT
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Jun 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 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 #}