JSW Energy Ltd.

•

jsw.inBSE: 533148NSE: JSWENERGY

Market Cap₹ 96,340 Cr.

Current Price

High / Low₹ 617 / 428

Stock P/E108.8

Book Value₹ 151

Price to Book3.52

Dividend Yield0.38 %

ROCE4.8 %

ROE3.8 %

Face Value₹ 10

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ABOUT

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 35.8% CAGR over last 5 years
Operating margins have improved to 33.5% from 25.9%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.25x)
Company has been maintaining a healthy dividend payout of 40.9%
Working capital cycle has improved - days down from -216 to -775
Company has a consistent dividend-paying track record

CONS

A large part of profit comes from other income (114.3% of PBT)
Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 26.4% versus prior year
Company has a low return on capital employed of 6.3%
Company has a low return on equity of 5.7% over last 3 years
Promoter holding has decreased over last 2 years: -2.8pp

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

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150 NIFTY TOTAL MKT

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

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,485	1,133	1,276	1,236	1,050	967	977	946	916	780	695	639	1,101
	1,136	739	768	767	675	718	671	668	612	521	451	430	1,111
Operating Profit	348	394	507	469	374	250	305	277	303	259	244	209	-10
OPM %	23.47%	34.76%	39.77%	37.92%	35.68%	25.80%	31.26%	29.32%	33.12%	33.19%	35.08%	32.65%	-0.93%
	77	58	22	53	117	178	81	305	140	205	122	455	204
Interest	105	119	118	135	90	75	88	112	202	214	234	237	245
Depreciation	71	69	65	64	64	64	62	53	57	57	56	56	62
Profit before Tax	249	263	347	322	338	289	236	417	185	193	76	371	193
Tax %	33.30%	27.50%	27.60%	-6.18%	24.89%	1.02%	7.86%	-11.45%	12.36%	1.38%	14.19%	-19.20%	2.84%
Net Profit	166	191	251	342	254	286	217	464	162	190	65	442	188
	1.01	1.17	1.53	2.09	1.46	1.64	1.25	2.66	0.93	1.09	0.37	2.52	1.05

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,041	4,212	5,118	4,314	2,898	3,643	5,739	5,129	3,939	3,029	3,215
	3,136	3,505	4,386	3,422	2,204	2,598	4,532	3,414	2,733	2,015	2,514
Operating Profit	905	707	732	892	693	1,044	1,207	1,716	1,207	1,015	701
OPM %	22.40%	16.78%	14.30%	20.69%	23.93%	28.67%	21.03%	33.45%	30.63%	33.49%	21.80%
	329	-165	435	223	182	228	400	213	681	921	985
Interest	533	476	412	322	210	127	260	478	365	886	929
Depreciation	364	364	365	369	358	328	317	270	243	225	230
Profit before Tax	337	-299	390	424	308	818	1,030	1,181	1,279	824	833
Tax %	42.19%	-48.61%	35.57%	-17.44%	39.50%	30.35%	30.94%	19.56%	4.52%	-4.24%	-6.28%
Net Profit	195	-444	251	498	186	570	711	950	1,221	859	885
EPS	1.20	-2.71	1.53	3.03	1.13	3.46	4.32	5.79	7.00	4.89	—
Dividend Payout %	41.80%	0.00%	65.26%	32.98%	176.43%	57.55%	46.15%	34.54%	28.59%	40.89%	—

COMPOUNDED SALES GROWTH

10 Years:: -6%
5 Years:: 1%
3 Years:: -19%

COMPOUNDED PROFIT GROWTH

10 Years:: -3%
5 Years:: 36%
3 Years:: 7%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 3%
5 Years:: 5%
3 Years:: 6%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	6,755	8,224	8,511	7,739	9,970	11,820	11,930	13,420	20,418	21,777
	2,925	2,617	2,061	2,253	1,609	1,282	6,298	6,706	9,026	13,840
Trade Payables	1,911	2,071	1,559	1,266	718	884	901	1,011	424	316
	3,781	2,799	3,246	3,685	2,334	2,778	3,067	3,904	4,767	5,863
Total Liabilities	17,000	17,352	17,017	16,585	16,272	18,403	23,836	26,682	36,381	43,551
	5,190	5,111	4,853	4,508	4,180	3,957	3,709	3,511	3,358	3,235
Capital Work in Progress	479	261	377	109	34	23	16	18	90	216
	5,324	6,963	6,703	5,417	8,212	6,867	14,730	17,413	23,257	29,255
	506	450	348	541	236	776	782	439	218	324
	0	0	0	0	0	0	0	298	411	450
Cash & Bank	75	139	112	158	127	203	435	831	1,068	396
	5,426	4,429	4,624	5,853	3,483	6,577	4,165	4,172	7,978	9,675
Total Assets	17,000	17,352	17,017	16,585	16,272	18,403	23,836	26,682	36,381	43,551

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,470	898	469	92	1,128	419	1,185	2,266	833	689
Cash from Investing	1,085	-58	445	1,305	-378	710	-5,384	-1,650	-7,548	-6,510
Cash from Financing	-2,475	-807	-733	-1,121	-1,011	-881	4,496	-83	6,993	5,040
	18	-18	109	215	-304	82	87	532	277	-781

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

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JSW Energy Ltd.

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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

1,485

1,133

1,276

1,236

1,050

967

977

946

916

780

695

639

1,101

1,136

739

768

767

675

718

671

668

612

521

451

430

1,111

Operating Profit

348

394

507

469

374

250

305

277

303

259

244

209

-10

OPM %

23.47%

34.76%

39.77%

37.92%

35.68%

25.80%

31.26%

29.32%

33.12%

33.19%

35.08%

32.65%

-0.93%

117

178

305

140

205

122

455

204

Interest

105

119

118

135

112

202

214

234

237

245

Depreciation

Profit before Tax

249

263

347

322

338

289

236

417

185

193

371

193

Tax %

33.30%

27.50%

27.60%

-6.18%

24.89%

1.02%

7.86%

-11.45%

12.36%

1.38%

14.19%

-19.20%

2.84%

Net Profit

166

191

251

342

254

286

217

464

162

190

442

188

1.01

1.17

1.53

2.09

1.46

1.64

1.25

2.66

0.93

1.09

0.37

2.52

1.05

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

4,041

4,212

5,118

4,314

2,898

3,643

5,739

5,129

3,939

3,029

3,215

3,136

3,505

4,386

3,422

2,204

2,598

4,532

3,414

2,733

2,015

2,514

Operating Profit

905

707

732

892

693

1,044

1,207

1,716

1,207

1,015

701

OPM %

22.40%

16.78%

14.30%

20.69%

23.93%

28.67%

21.03%

33.45%

30.63%

33.49%

21.80%

329

-165

435

223

182

228

400

213

681

921

985

Interest

533

476

412

322

210

127

260

478

365

886

929

Depreciation

364

365

369

358

328

317

270

243

225

230

Profit before Tax

337

-299

390

424

308

818

1,030

1,181

1,279

824

833

Tax %

42.19%

-48.61%

35.57%

-17.44%

39.50%

30.35%

30.94%

19.56%

4.52%

-4.24%

-6.28%

Net Profit

195

-444

251

498

186

570

711

950

1,221

859

885

EPS

1.20

-2.71

1.53

3.03

1.13

3.46

4.32

5.79

7.00

4.89

—

Dividend Payout %

41.80%

0.00%

65.26%

32.98%

176.43%

57.55%

46.15%

34.54%

28.59%

40.89%

—

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

6,755

8,224

8,511

7,739

9,970

11,820

11,930

13,420

20,418

21,777

2,925

2,617

2,061

2,253

1,609

1,282

6,298

6,706

9,026

13,840

Trade Payables

1,911

2,071

1,559

1,266

718

884

901

1,011

424

316

3,781

2,799

3,246

3,685

2,334

2,778

3,067

3,904

4,767

5,863

Total Liabilities

17,000

17,352

17,017

16,585

16,272

18,403

23,836

26,682

36,381

43,551

5,190

5,111

4,853

4,508

4,180

3,957

3,709

3,511

3,358

3,235

Capital Work in Progress

479

261

377

109

216

5,324

6,963

6,703

5,417

8,212

6,867

14,730

17,413

23,257

29,255

506

450

348

541

236

776

782

439

218

324

298

411

450

Cash & Bank

139

112

158

127

203

435

831

1,068

396

5,426

4,429

4,624

5,853

3,483

6,577

4,165

4,172

7,978

9,675

Total Assets

17,000

17,352

17,017

16,585

16,272

18,403

23,836

26,682

36,381

43,551

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

1,470

898

469

1,128

419

1,185

2,266

833

689

Cash from Investing

1,085

-58

445

1,305

-378

710

-5,384

-1,650

-7,548

-6,510

Cash from Financing

-2,475

-807

-733

-1,121

-1,011

-881

4,496

-83

6,993

5,040

-18

109

215

-304

532

277

-781

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

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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