JSW Energy Ltd

JSW Energy Ltd

₹ 689 -1.47%
22 Nov - 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 1,20,404 Cr.
  • Current Price 689
  • High / Low 805 / 398
  • Stock P/E 61.7
  • Book Value 160
  • Dividend Yield 0.29 %
  • ROCE 8.59 %
  • ROE 8.40 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 19.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.1%
  • Debtor days have improved from 37.0 to 26.8 days.

Cons

  • Stock is trading at 4.30 times its book value
  • Company has a low return on equity of 8.66% over last 3 years.
  • Promoter holding has decreased over last 3 years: -5.36%

* 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

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,087 1,905 2,441 3,026 2,387 2,248 2,670 2,928 3,259 2,543 2,756 2,879 3,238
1,158 1,102 1,309 2,004 1,498 1,623 1,931 1,706 1,379 1,432 1,587 1,462 1,553
Operating Profit 930 803 1,132 1,022 890 625 739 1,222 1,880 1,111 1,169 1,418 1,685
OPM % 45% 42% 46% 34% 37% 28% 28% 42% 58% 44% 42% 49% 52%
152 81 215 212 214 119 136 87 134 120 130 167 230
Interest 191 195 100 193 204 214 233 486 514 521 533 511 518
Depreciation 284 281 277 289 294 295 291 398 409 400 427 375 392
Profit before tax 607 407 969 753 605 235 351 426 1,092 310 339 698 1,005
Tax % 44% 21% 9% 26% 24% 20% 20% 32% 22% 25% -2% 24% 13%
337 321 877 555 457 187 282 290 857 232 345 534 877
EPS in Rs 2.06 1.97 5.26 3.41 2.83 1.09 1.65 1.76 5.17 1.41 2.14 2.99 4.88
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
8,870 8,648 9,347 9,824 8,263 8,049 9,138 8,273 6,922 8,167 10,332 11,486 11,416
6,069 5,394 5,723 5,796 4,939 5,336 6,283 5,316 4,009 4,596 7,050 6,104 6,034
Operating Profit 2,801 3,255 3,624 4,029 3,324 2,713 2,855 2,957 2,913 3,572 3,282 5,382 5,382
OPM % 32% 38% 39% 41% 40% 34% 31% 36% 42% 44% 32% 47% 47%
9 -179 196 340 221 47 398 376 248 575 674 472 648
Interest 963 1,206 1,137 1,498 1,685 1,456 1,192 1,051 896 777 844 2,053 2,083
Depreciation 662 810 790 854 969 966 1,164 1,738 1,167 1,131 1,169 1,633 1,594
Profit before tax 1,186 1,060 1,892 2,017 892 338 897 544 1,099 2,238 1,943 2,167 2,352
Tax % 23% 27% 27% 28% 30% 75% 24% 6% 25% 22% 24% 20%
901 760 1,358 1,460 623 85 684 1,081 823 1,743 1,480 1,725 1,988
EPS in Rs 5.51 4.60 8.23 8.83 3.84 0.48 4.24 6.70 4.84 10.51 8.99 10.47 11.42
Dividend Payout % 36% 43% 24% 22% 13% 0% 24% 15% 41% 19% 22% 19%
Compounded Sales Growth
10 Years: 3%
5 Years: 5%
3 Years: 18%
TTM: 3%
Compounded Profit Growth
10 Years: 5%
5 Years: 20%
3 Years: 29%
TTM: 23%
Stock Price CAGR
10 Years: 22%
5 Years: 57%
3 Years: 31%
1 Year: 64%
Return on Equity
10 Years: 8%
5 Years: 8%
3 Years: 9%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 1,640 1,640 1,640 1,627 1,628 1,640 1,641 1,642 1,642 1,640 1,641 1,641 1,745
Reserves 4,564 4,931 5,878 8,077 8,741 9,470 10,181 10,004 12,865 15,775 16,988 19,191 26,226
10,377 10,106 9,294 14,862 14,349 11,883 10,555 9,840 8,371 8,943 25,051 31,573 30,853
3,798 2,567 2,608 3,973 3,672 3,728 3,549 3,445 3,328 4,157 4,737 5,362 6,108
Total Liabilities 20,378 19,244 19,420 28,539 28,389 26,721 25,926 24,931 26,207 30,514 48,417 57,767 64,932
13,925 13,635 13,191 20,298 19,491 18,877 17,825 16,713 15,637 14,831 25,020 28,946 31,573
CWIP 977 615 454 321 531 294 400 391 473 2,091 4,788 10,285 10,410
Investments 955 888 1,619 1,012 1,579 2,415 2,451 1,854 4,052 6,623 6,033 7,035 10,101
4,521 4,107 4,157 6,908 6,789 5,135 5,251 5,974 6,045 6,970 12,576 11,501 12,847
Total Assets 20,378 19,244 19,420 28,539 28,389 26,721 25,926 24,931 26,207 30,514 48,417 57,767 64,932

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,725 2,269 3,394 3,538 3,853 3,934 2,491 2,082 3,700 2,952 2,084 6,234
-944 -363 -422 -3,272 -762 -215 -55 301 -1,030 -1,387 -6,778 -8,197
-684 -1,859 -2,327 -1,622 -2,595 -3,968 -2,523 -1,962 -2,515 -781 7,327 1,675
Net Cash Flow 96 48 645 -1,357 496 -249 -87 421 155 784 2,634 -289

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 76 51 46 108 96 52 57 93 51 30 54 27
Inventory Days
Days Payable
Cash Conversion Cycle 76 51 46 108 96 52 57 93 51 30 54 27
Working Capital Days -74 -51 -54 -36 -61 -99 -72 -44 1 -18 40 -9
ROCE % 14% 15% 18% 16% 10% 9% 9% 7% 9% 12% 7% 9%

Shareholding Pattern

Numbers in percentages

29 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
74.66% 74.66% 74.69% 74.69% 74.66% 74.66% 74.66% 73.39% 73.39% 73.67% 69.32% 69.32%
5.51% 5.36% 5.27% 5.34% 5.14% 5.18% 5.18% 8.38% 8.50% 8.37% 15.37% 14.92%
9.19% 10.16% 10.08% 10.09% 10.08% 10.06% 9.59% 9.69% 9.36% 9.29% 9.21% 9.78%
10.37% 9.55% 9.70% 9.65% 9.86% 9.84% 10.33% 8.33% 8.53% 8.45% 5.90% 5.81%
0.27% 0.27% 0.26% 0.24% 0.27% 0.25% 0.25% 0.22% 0.21% 0.21% 0.19% 0.15%
No. of Shareholders 2,25,1052,35,6442,64,8132,59,2422,59,3292,65,1382,78,0102,89,7403,28,9153,60,2414,06,2204,41,927

* 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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