JSW Energy Ltd

JSW Energy Ltd

₹ 627 -0.29%
19 Apr - close price
About

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]

Key Points

Thermal Projects as on Q2FY24[1]
Total Thermal Capacity : 3,858 MW
Operational Capacity : 3,158 MW
Under Construction : Ind-Barath 700 MW

  1. Barmer - lignite - 1,080 MW
  2. Ratnagiri -coal - 1,200 MW
  3. Vijayanagar -coal & gas - 860 MW
  • Market Cap 1,09,533 Cr.
  • Current Price 627
  • High / Low 639 / 240
  • Stock P/E 66.6
  • Book Value 121
  • Dividend Yield 0.32 %
  • ROCE 7.28 %
  • ROE 7.22 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 27.5%

Cons

  • Stock is trading at 5.19 times its book value
  • The company has delivered a poor sales growth of 5.12% over past five years.
  • Company has a low return on equity of 8.01% over last 3 years.
  • Company might be capitalizing the interest cost
  • Debtor days have increased from 45.0 to 54.1 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,609 1,570 1,728 2,087 1,905 2,441 3,026 2,387 2,248 2,670 2,928 3,259 2,543
1,004 937 1,029 1,158 1,102 1,309 2,004 1,498 1,623 1,931 1,706 1,379 1,432
Operating Profit 604 633 698 930 803 1,132 1,022 890 625 739 1,222 1,880 1,111
OPM % 38% 40% 40% 45% 42% 46% 34% 37% 28% 28% 42% 58% 44%
54 50 135 152 81 215 212 214 119 136 87 134 120
Interest 191 257 290 191 195 100 193 204 214 233 486 514 521
Depreciation 292 294 288 284 281 277 289 294 295 291 398 409 400
Profit before tax 176 132 255 607 407 969 753 605 235 351 426 1,092 310
Tax % 19% 20% 18% 44% 21% 9% 26% 24% 20% 20% 32% 22% 25%
142 105 209 337 321 877 555 457 187 282 290 857 232
EPS in Rs 0.75 0.65 1.22 2.06 1.97 5.26 3.41 2.83 1.09 1.65 1.76 5.17 1.41
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
6,057 8,870 8,648 9,347 9,824 8,263 8,049 9,138 8,273 6,922 8,167 10,332 11,400
4,659 6,069 5,394 5,723 5,796 4,939 5,336 6,283 4,746 4,009 4,596 7,050 6,447
Operating Profit 1,398 2,801 3,255 3,624 4,029 3,324 2,713 2,855 3,527 2,913 3,572 3,282 4,953
OPM % 23% 32% 38% 39% 41% 40% 34% 31% 43% 42% 44% 32% 43%
35 9 -179 196 340 221 47 398 376 248 575 674 477
Interest 717 963 1,206 1,137 1,498 1,685 1,456 1,192 1,051 896 777 844 1,753
Depreciation 503 662 810 790 854 969 966 1,164 1,738 1,167 1,131 1,169 1,498
Profit before tax 213 1,186 1,060 1,892 2,017 892 338 897 1,114 1,099 2,238 1,943 2,179
Tax % 20% 23% 27% 27% 28% 30% 75% 24% 3% 25% 22% 24%
171 901 760 1,358 1,460 623 85 684 1,081 823 1,743 1,480 1,661
EPS in Rs 1.04 5.51 4.60 8.23 8.83 3.84 0.48 4.24 6.70 4.84 10.51 8.99 9.99
Dividend Payout % 48% 36% 43% 24% 22% 13% 0% 24% 15% 41% 19% 22%
Compounded Sales Growth
10 Years: 2%
5 Years: 5%
3 Years: 8%
TTM: 13%
Compounded Profit Growth
10 Years: 2%
5 Years: 98%
3 Years: 9%
TTM: -16%
Stock Price CAGR
10 Years: 27%
5 Years: 54%
3 Years: 84%
1 Year: 147%
Return on Equity
10 Years: 8%
5 Years: 8%
3 Years: 8%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1,640 1,640 1,640 1,640 1,627 1,628 1,640 1,641 1,642 1,642 1,640 1,641 1,641
Reserves 4,060 4,564 4,931 5,878 8,077 8,741 9,470 10,181 10,004 12,865 15,775 16,988 18,236
9,995 10,377 10,106 9,294 14,862 14,349 11,883 10,555 9,840 8,371 8,943 25,051 27,783
3,604 3,798 2,567 2,608 3,973 3,672 3,728 3,549 3,445 3,328 4,157 4,737 5,447
Total Liabilities 19,299 20,378 19,244 19,420 28,539 28,389 26,721 25,926 24,931 26,207 30,514 48,417 53,107
10,974 13,925 13,635 13,191 20,298 19,491 18,877 17,825 16,713 15,637 14,831 25,029 28,126
CWIP 3,670 977 615 454 321 531 294 400 391 473 2,091 4,780 7,341
Investments 497 955 888 1,619 1,012 1,579 2,415 2,451 1,854 4,052 6,623 6,033 6,701
4,157 4,521 4,107 4,157 6,908 6,789 5,135 5,251 5,974 6,045 6,970 12,576 10,939
Total Assets 19,299 20,378 19,244 19,420 28,539 28,389 26,721 25,926 24,931 26,207 30,514 48,417 53,107

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2,029 1,725 2,269 3,394 3,538 3,853 3,934 2,491 2,086 3,700 2,952 2,084
-1,820 -944 -363 -422 -3,272 -762 -215 -55 300 -1,030 -1,387 -6,778
-553 -684 -1,859 -2,327 -1,622 -2,595 -3,968 -2,523 -1,965 -2,515 -781 7,327
Net Cash Flow -345 96 48 645 -1,357 496 -249 -87 421 155 784 2,634

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 64 76 51 46 108 96 52 57 69 51 30 54
Inventory Days
Days Payable
Cash Conversion Cycle 64 76 51 46 108 96 52 57 69 51 30 54
Working Capital Days -119 -74 -51 -54 -36 -61 -99 -72 -34 1 -18 41
ROCE % 7% 14% 15% 18% 16% 10% 9% 9% 10% 9% 12% 7%

Shareholding Pattern

Numbers in percentages

20 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Apr 2024
74.66% 74.66% 74.66% 74.69% 74.69% 74.66% 74.66% 74.66% 73.39% 73.39% 73.67% 69.32%
5.92% 5.51% 5.36% 5.27% 5.34% 5.14% 5.18% 5.18% 8.38% 8.50% 8.37% 13.34%
7.49% 9.19% 10.16% 10.08% 10.09% 10.08% 10.06% 9.59% 9.69% 9.36% 9.29% 9.31%
11.70% 10.37% 9.55% 9.70% 9.65% 9.86% 9.84% 10.33% 8.33% 8.53% 8.45% 7.82%
0.23% 0.27% 0.27% 0.26% 0.24% 0.27% 0.25% 0.25% 0.22% 0.21% 0.21% 0.20%
No. of Shareholders 1,99,4342,25,1052,35,6442,64,8132,59,2422,59,3292,65,1382,78,0102,89,7403,28,9153,60,2413,58,735

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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