JSW Energy Ltd.

•

jsw.inBSE: 533148NSE: JSWENERGY

Market Cap₹ 96,340 Cr.

Current Price

High / Low₹ 617 / 428

Stock P/E49.0

Book Value₹ 188

Price to Book2.77

Dividend Yield0.38 %

ROCE8.5 %

ROE9.7 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Thermal: 69.9% • Renewables: 29.8% • Unallocated: 0.3%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Company has delivered good profit growth of 27.4% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Operating margins have improved to 53.2% from 36.9%
Company has delivered good sales growth of 22.2% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.09x)

CONS

Company has a high debt-to-equity of 2.53x
A large part of profit comes from other income (49.2% of PBT)
Company has a low return on capital employed of 8.1%
Company has a low return on equity of 8.9% over last 3 years
Promoter holding has decreased over last 2 years: -2.8pp
Interest coverage is weak at 1.3x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTYM150MOMNTM50 NIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150

S.No.	Name
1.	ADANIPOWER	209.85	28.39	404689.32	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.30	11.64	323189.88	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	269.10	15.74	250279.25	3.34	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1282.00	118.37	211167.98	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1373.75	57.55	168003.37	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	525.45	48.97	96340.35	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.30	20.19	76643.62	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	86.90	120.64	73224.80	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1298.20	28.15	65416.76	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	264.25	11.42	36641.87	1.46	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	ACMESOLAR	401.85	47.07	28405.75	0.05	235.33	79.88	857.50	67.81	9.23	85.63

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,928	3,259	2,543	2,756	2,879	3,238	2,439	3,189	5,143	5,177	4,082	4,499	5,207
	1,706	1,379	1,432	1,587	1,462	1,553	1,525	1,985	2,355	2,181	2,052	2,249	4,743
Operating Profit	1,222	1,880	1,111	1,169	1,418	1,685	914	1,204	2,789	2,996	2,030	2,250	464
OPM %	41.74%	57.69%	43.68%	42.40%	49.24%	52.04%	37.47%	37.77%	54.22%	57.88%	49.72%	50.01%	8.92%
	85	128	119	123	163	222	201	308	268	184	108	352	229
Interest	486	514	521	533	511	518	564	675	1,306	1,418	1,485	1,608	1,519
Depreciation	398	409	400	427	375	392	406	482	739	809	829	809	890
Profit before Tax	424	1,086	309	332	694	997	145	355	1,012	954	-176	185	696
Tax %	32.00%	21.65%	25.26%	-1.91%	23.63%	12.86%	-5.11%	-15.14%	17.73%	13.76%	397.70%	-209.00%	23.44%
Net Profit	0	0	0	0	534	877	157	415	836	824	529	574	533
	1.77	5.18	1.41	2.14	3.00	4.90	0.96	2.34	4.26	4.04	2.41	2.12	2.64

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	8,263	8,049	9,138	8,273	6,922	8,167	10,332	11,486	11,745	18,901	18,965
	4,939	5,286	6,284	5,316	4,016	4,598	7,050	6,104	6,525	8,837	11,225
Operating Profit	3,324	2,763	2,853	2,957	2,907	3,569	3,282	5,382	5,221	10,064	7,740
OPM %	40.23%	34.32%	31.22%	35.74%	41.99%	43.70%	31.76%	46.86%	44.45%	53.25%	40.81%
	217	47	368	348	237	569	655	455	894	911	873
Interest	1,685	1,456	1,192	1,051	896	777	844	2,053	2,269	5,816	6,030
Depreciation	969	966	1,164	1,168	1,167	1,131	1,169	1,633	1,655	3,185	3,336
Profit before Tax	892	338	897	1,114	1,099	2,238	1,943	2,167	2,214	1,986	1,657
Tax %	30.17%	74.89%	23.69%	2.97%	25.11%	22.11%	23.82%	20.41%	10.43%	-39.11%	-47.85%
Net Profit	623	85	684	1,081	823	1,743	1,480	1,725	1,983	2,762	2,451
EPS	3.86	0.48	4.24	6.70	4.84	10.50	8.99	10.50	11.18	12.75	—
Dividend Payout %	12.94%	0.00%	23.60%	14.93%	41.29%	18.97%	22.20%	19.05%	17.89%	15.69%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 22%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: 23%
3 Years:: 15%

STOCK PRICE CAGR

10 Years:: 21%
5 Years:: 14%
3 Years:: 10%
1 Year:: 1%

RETURN ON EQUITY

10 Years:: 7%
5 Years:: 9%
3 Years:: 9%
Last Year:: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,628	1,640	1,641	1,642	1,642	1,640	1,641	1,641	1,745	1,756
Minority Interest	2	-4	-12	-24	-9	2	105	182	1,724	2,826
	8,728	9,454	10,162	9,981	12,840	15,735	16,923	19,101	25,490	28,192
	14,373	11,713	10,618	10,222	9,032	9,435	25,470	30,865	48,350	73,044
Trade Payables	2,119	2,327	1,840	1,603	950	1,076	1,274	1,344	1,409	1,423
	3,700	3,478	3,541	5,461	3,944	5,112	5,618	7,776	14,273	20,419
Total Liabilities	30,550	28,608	27,790	28,884	28,400	33,000	51,032	60,909	92,991	1,27,660
	19,491	18,877	17,825	16,713	15,637	14,831	25,020	28,946	54,155	74,523
Capital Work in Progress	531	294	400	391	473	2,091	4,780	10,282	10,277	17,409
	1,579	2,415	2,451	1,854	4,052	6,623	6,033	7,035	9,755	11,379
	593	536	455	640	395	901	987	831	905	961
	0	0	0	0	0	0	0	844	1,320	1,630
Cash & Bank	784	311	204	201	479	1,134	4,014	4,207	4,695	5,765
	7,573	6,176	6,456	9,086	7,364	7,420	10,198	8,764	11,883	15,992
Total Assets	30,550	28,608	27,790	28,884	28,400	33,000	51,032	60,909	92,991	1,27,660

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,091	4,089	2,692	2,261	3,883	3,391	2,432	6,234	3,838	9,898
Cash from Investing	-762	-215	-54	301	-1,033	-1,392	-7,009	-8,318	-23,613	-20,271
Cash from Financing	-2,595	-3,968	-2,523	-1,965	-2,515	-781	7,327	1,675	20,223	10,617
	496	-249	-86	422	153	778	2,402	-409	449	245

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.32	69.32	69.32	69.26	69.27	69.27	69.27	69.41	66.53
	15.37	14.92	14.57	13.42	12.35	12.10	9.48	9.74	11.41
	9.21	9.78	10.05	10.94	11.43	11.56	14.39	14.29	16.16
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	6.10	5.98	6.08	6.37	6.93	7.04	6.81	6.52	5.86

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-12

General Updates

2026-09-12 - JSW Energy Limited has informed the Exchange about assignment and affirmation of Credit Rating JSW Neo Energy Limited

2026-09-11

General Updates

2026-09-11 - JSW Energy Limited has informed the Exchange about assignment and affirmation of Credit Rating

2026-09-09

General Updates

2026-09-09 - JSW Energy Limited has informed the Exchange about assignment and affirmation of Credit Rating JSW Energy Limited

2026-09-05

General Updates

2026-09-05 - JSW Energy Limited has informed the Exchange about reaffirmation and assignment of Credit Rating - O2 Companies

2026-09-04

General Updates

2026-09-04 - JSW Energy Limited has informed the Exchange about JSW Energy surpasses 15 GW of capacity milestone; adds 1,572 MW in FY27

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - JSW Energy Limited has informed the Exchange about Schedule of meet

2026-09-01

General Updates

2026-09-01 - JSW Energy Limited has informed the Exchange about reaffirmation and upgrade of Credit Rating - O2 Companies

2026-09-01

Change in Management

2026-09-01 - JSW Energy Limited has informed the Exchange about resignation of Senior Management Personnel

2026-08-21

General Updates

2026-08-21 - JSW Energy Limited has informed the Exchange about update on Material litigation under Regulation 30(4) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )

News

Recent coverage and analyst commentary for JSWENERGY

Loading news…

🤖

AI Stock Analyst

JSW Energy Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

ADANIPOWER

209.85

28.39

404689.32

0.00

4866.60

47.24

18901.89

33.97

17.79

42.67

NTPC

333.30

11.64

323189.88

2.70

6896.44

-88.71

50740.96

7.81

8.52

33.23

POWERGRID

269.10

15.74

250279.25

3.34

3598.42

-0.89

11496.72

2.68

9.74

82.97

ADANIGREEN

1282.00

118.37

211167.98

0.00

983.00

19.30

4431.00

16.61

9.90

91.24

ADANIENSOL

1373.75

57.55

168003.37

0.00

12365.60

2194.43

97110.80

1324.06

9.71

31.27

TATAPOWER

365.00

30.19

116629.89

0.68

1400.86

10.98

19051.26

5.63

11.63

21.53

JSWENERGY

525.45

48.97

96340.35

0.38

532.70

-36.27

5207.13

1.24

8.50

55.22

NHPC

76.30

20.19

76643.62

2.11

1178.09

4.15

3808.31

18.50

6.16

61.80

NTPCGREEN

86.90

120.64

73224.80

0.00

304.84

38.26

1106.86

62.72

3.73

91.95

TORNTPOWER

1298.20

28.15

65416.76

1.54

661.85

-10.75

8124.15

2.75

14.37

18.93

NLCINDIA

264.25

11.42

36641.87

1.46

436.33

-48.01

4716.75

23.29

11.27

32.83

ACMESOLAR

401.85

47.07

28405.75

0.05

235.33

79.88

857.50

67.81

9.23

85.63

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

2,928

3,259

2,543

2,756

2,879

3,238

2,439

3,189

5,143

5,177

4,082

4,499

5,207

1,706

1,379

1,432

1,587

1,462

1,553

1,525

1,985

2,355

2,181

2,052

2,249

4,743

Operating Profit

1,222

1,880

1,111

1,169

1,418

1,685

914

1,204

2,789

2,996

2,030

2,250

464

OPM %

41.74%

57.69%

43.68%

42.40%

49.24%

52.04%

37.47%

37.77%

54.22%

57.88%

49.72%

50.01%

8.92%

128

119

123

163

222

201

308

268

184

108

352

229

Interest

486

514

521

533

511

518

564

675

1,306

1,418

1,485

1,608

1,519

Depreciation

398

409

400

427

375

392

406

482

739

809

829

809

890

Profit before Tax

424

1,086

309

332

694

997

145

355

1,012

954

-176

185

696

Tax %

32.00%

21.65%

25.26%

-1.91%

23.63%

12.86%

-5.11%

-15.14%

17.73%

13.76%

397.70%

-209.00%

23.44%

Net Profit

534

877

157

415

836

824

529

574

533

1.77

5.18

1.41

2.14

3.00

4.90

0.96

2.34

4.26

4.04

2.41

2.12

2.64

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

8,263

8,049

9,138

8,273

6,922

8,167

10,332

11,486

11,745

18,901

18,965

4,939

5,286

6,284

5,316

4,016

4,598

7,050

6,104

6,525

8,837

11,225

Operating Profit

3,324

2,763

2,853

2,957

2,907

3,569

3,282

5,382

5,221

10,064

7,740

OPM %

40.23%

34.32%

31.22%

35.74%

41.99%

43.70%

31.76%

46.86%

44.45%

53.25%

40.81%

217

368

348

237

569

655

455

894

911

873

Interest

1,685

1,456

1,192

1,051

896

777

844

2,053

2,269

5,816

6,030

Depreciation

969

966

1,164

1,168

1,167

1,131

1,169

1,633

1,655

3,185

3,336

Profit before Tax

892

338

897

1,114

1,099

2,238

1,943

2,167

2,214

1,986

1,657

Tax %

30.17%

74.89%

23.69%

2.97%

25.11%

22.11%

23.82%

20.41%

10.43%

-39.11%

-47.85%

Net Profit

623

684

1,081

823

1,743

1,480

1,725

1,983

2,762

2,451

EPS

3.86

0.48

4.24

6.70

4.84

10.50

8.99

10.50

11.18

12.75

—

Dividend Payout %

12.94%

0.00%

23.60%

14.93%

41.29%

18.97%

22.20%

19.05%

17.89%

15.69%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,628

1,640

1,641

1,642

1,640

1,641

1,745

1,756

Minority Interest

-4

-12

-24

-9

105

182

1,724

2,826

8,728

9,454

10,162

9,981

12,840

15,735

16,923

19,101

25,490

28,192

14,373

11,713

10,618

10,222

9,032

9,435

25,470

30,865

48,350

73,044

Trade Payables

2,119

2,327

1,840

1,603

950

1,076

1,274

1,344

1,409

1,423

3,700

3,478

3,541

5,461

3,944

5,112

5,618

7,776

14,273

20,419

Total Liabilities

30,550

28,608

27,790

28,884

28,400

33,000

51,032

60,909

92,991

1,27,660

19,491

18,877

17,825

16,713

15,637

14,831

25,020

28,946

54,155

74,523

Capital Work in Progress

531

294

400

391

473

2,091

4,780

10,282

10,277

17,409

1,579

2,415

2,451

1,854

4,052

6,623

6,033

7,035

9,755

11,379

593

536

455

640

395

901

987

831

905

961

844

1,320

1,630

Cash & Bank

784

311

204

201

479

1,134

4,014

4,207

4,695

5,765

7,573

6,176

6,456

9,086

7,364

7,420

10,198

8,764

11,883

15,992

Total Assets

30,550

28,608

27,790

28,884

28,400

33,000

51,032

60,909

92,991

1,27,660

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

4,091

4,089

2,692

2,261

3,883

3,391

2,432

6,234

3,838

9,898

Cash from Investing

-762

-215

-54

301

-1,033

-1,392

-7,009

-8,318

-23,613

-20,271

Cash from Financing

-2,595

-3,968

-2,523

-1,965

-2,515

-781

7,327

1,675

20,223

10,617

496

-249

-86

422

153

778

2,402

-409

449

245

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.32

69.26

69.27

69.41

66.53

15.37

14.92

14.57

13.42

12.35

12.10

9.48

9.74

11.41

9.21

9.78

10.05

10.94

11.43

11.56

14.39

14.29

16.16

Government

0.00

6.10

5.98

6.08

6.37

6.93

7.04

6.81

6.52

5.86

JSW Energy Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

JSW Energy Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI