JSW Energy Ltd.

NSE: JSWENERGY · Power Generation

52W Range₹428 ₹617

Snapshot

Unlock JSW Energy Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

JSW Energy Limited is an Indian power company engaged in the generation, transmission, and trading of electricity. Its portfolio comprises thermal, hydro, and solar assets, complemented by coal mining operations in South Africa.

Business Model

The company generates revenue through the sale of power from its diversified generation assets and engages in power trading and transmission services. It also maintains vertical integration through coal mining operations to support its thermal power requirements.

  • Total Generation Capacity:4,559 MW
  • Thermal Capacity:3,158 MW
  • Hydro Capacity:1,391 MW
  • Solar Capacity:10 MW

Growth Outlook

The company is focused on expanding its power generation footprint and optimising its existing asset base across India. Future growth is likely to be driven by capacity additions and the ongoing transition toward renewable energy sources.

Key Risks

  • Regulatory and Policy Risk. Changes in government power policies and tariff regulations can significantly impact the company's profitability and operational viability.
  • Fuel Supply Risk. Fluctuations in the availability and cost of coal, particularly for thermal assets, pose a risk to margins and operational stability.
  • Counterparty Credit Risk. The company faces potential payment delays or defaults from state-owned distribution companies, which are the primary off-takers of its power.
  • Environmental and Climate Risk. Increasing environmental regulations regarding carbon emissions may necessitate significant capital expenditure to upgrade or transition thermal power plants.

Price

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Key Metrics

REVENUE

₹18,901 Cr

TTM · consolidated

+60.9%YoY

NET PROFIT

₹2,762 Cr

TTM · consolidated

+39.3%YoY

EPS

₹12.83

TTM · consolidated

+14.6%YoY

RETURN ON EQUITY

9.8%

TTM · consolidated

+1.0 ppYoY

RETURN ON CAPITAL EMPLOYED

9.2%

TTM · consolidated

+1.5 ppYoY

P/E

42.4x

Q4 FY26 · consolidated

42.4 vs 95.7x5Y avg

EV/EBITDA

15.5x

Q4 FY26 · consolidated

15.5 vs 45.9x5Y avg

EBITDA MARGIN

58.4%

TTM · consolidated

+6.3 ppYoY

NET PROFIT MARGIN

12.7%

Q4 FY26 · consolidated

-0.3 ppYoY

DEBT TO EQUITY

2.5x

Q4 FY26 · consolidated

+0.66xYoY

Peers · Power Generation

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
JSW Energy Ltd.JSWENERGY
85,45742.3515.5160.9%58.4%9.8%9.2%+2.2%
Adani Green Energy Ltd.ADANIGREEN
1,38,033110.9819.1516.8%100.4%30.9%12.6%+48.6%
NTPC Green Energy Ltd.NTPCGREEN
82,114152.5440.5692.8%2.8%3.5%-16.9%
NHPC Ltd.NHPC
76,59321.0420.5211.9%54.3%10.5%4.5%-10.9%
NLC India Ltd.NLCINDIA
36,01711.3310.4814.5%37.5%19.4%8.5%+26.1%
SJVN Ltd.SJVN
26,51042.9816.5147.4%78.3%4.5%6.0%-29.3%

As of Q4 FY26

Financials