JSW Energy

₹637 -11.9 | 1.8%

WEBSITE BSE:533148 NSE : JSW ENERGY 26 Dec, 16:01

Market Cap ₹111324 Cr.

Stock P/E 64.5

P/B 5.2

Current Price ₹637

Book Value ₹ 122.1

Face Value 10

52W High ₹805

Dividend Yield 0.31%

52W Low ₹ 404

Edit Ratio

JSW Energy Research see more...

JSW Energy Ltd Fundamental Analysis : At The Cusp of Green Revolution

Overview Inc. Year: 1994Industry: Power Generation/Distribution

JSW Energy Limited is an India-based integrated power company engaged in the enterprise of generation and sale of power. The Company's segments include Power Trading, Equipment Manufacturing and Mining. Its plants consist of Baspa, Karcham Wangtoo, Barmer, Vijaynagar and Ratnagiri. Baspa Plant is positioned in the higher reaches of the Himalayas and has a generating potential of approximately 300 megawatts (MW). The Karcham Wangtoo plant is on river Satluj in District Kinnaur of Himachal Pradesh and has a producing potential of about 1091 MW. Barmer Plant is situated close to its fuel source, the lignite mines in Kapurdi and Jalipa. The Vijayanagar plant is placed in Karnataka, this plant includes two separate enterprise devices BU I and SBU I, with a blended capability of approximately 860MW. The Company generates approximately 4,559 MW, out of which approximately 3158 MW is thermal power about 1391 MW is hydropower and about 10 MW solar power.

JSW Energy Share Price

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Peer Comparison

JSW Energy Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

JSW Energy Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net Sales	5803	6332	5863	4041	4212	5118	4314	2898	3643	5739	5129
Other Income	255	294	398	329	494	435	200	182	228	280	213
Total Income	6058	6626	6261	4370	4706	5553	4514	3080	3871	6019	5342
Total Expenditure	3790	4229	3700	3136	3505	4386	3422	2204	2598	4532	3414
Operating Profit	2268	2396	2561	1234	1201	1167	1092	876	1273	1487	1929
Interest	628	586	644	533	476	412	322	210	127	260	478
Depreciation	453	421	354	364	364	365	369	358	328	317	270
Exceptional Income / Expenses	-370	-34	0	0	-659	0	23	0	0	120	0
Profit Before Tax	817	1356	1563	337	-299	390	424	308	818	1030	1181
Provision for Tax	214	361	381	142	145	139	-74	122	248	319	231
Profit After Tax	602	995	1182	195	-444	251	498	186	570	711	950
Adjustments	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	602	995	1182	195	-444	251	498	186	570	711	950
Adjusted Earnings Per Share	3.7	6.1	7.3	1.2	-2.7	1.5	3	1.1	3.5	4.3	5.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-11%	21%	0%	-1%
Operating Profit CAGR	30%	30%	11%	-2%
PAT CAGR	34%	72%	30%	5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	53%	27%	56%	20%
ROE Average	7%	5%	5%	5%
ROCE Average	8%	7%	6%	8%

JSW Energy Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	7003	7594	8592	8394	9877	10167	9400	11632	13488	13609	15112
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	4264	3568	2810	2922	2610	2054	1333	711	675	3136	4441
Other Non-Current Liabilities	1312	1678	2093	2100	1183	1249	1867	1524	2612	2280	2414
Total Current Liabilities	2812	2588	5188	3585	3681	3546	3984	2406	2249	4810	4715
Total Liabilities	15391	15427	18683	17000	17352	17017	16585	16272	19024	23836	26682
Fixed Assets	6909	6814	5415	5190	5111	4853	4508	4180	3957	3709	3511
Other Non-Current Assets	5488	5806	11090	9996	10168	9972	8072	9925	9695	17271	20104
Total Current Assets	2993	2807	2178	1815	2074	2192	4005	2053	5372	2856	3067
Total Assets	15391	15427	18683	17000	17352	17017	16585	16272	19024	23836	26682

JSW Energy Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	795	846	1576	151	169	151	260	475	171	253	339
Cash Flow from Operating Activities	1559	2622	2261	1409	846	397	31	1086	252	975	2266
Cash Flow from Investing Activities	-25	-228	-3468	1085	-58	445	1305	-378	710	-5384	-1650
Cash Flow from Financing Activities	-1482	-1670	-218	-2475	-807	-733	-1121	-1011	-881	4496	-83
Net Cash Inflow / Outflow	51	724	-1425	18	-18	109	215	-304	82	87	532
Closing Cash & Cash Equivalent	846	1570	151	169	151	260	475	171	253	339	872

JSW Energy Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	3.67	6.06	7.27	1.2	-2.71	1.53	3.03	1.13	3.48	4.33	5.79
CEPS(Rs)	6.43	8.63	9.44	3.43	-0.49	3.76	5.28	3.31	5.47	6.27	7.43
DPS(Rs)	2	2	2	0.5	0	1	1	2	2	2	2
Book NAV/Share(Rs)	42.69	46.3	52.82	51.49	60.15	61.87	57.14	70.7	82.09	82.72	91.77
Core EBITDA Margin(%)	34.68	33.21	36.89	22.4	16.78	14.3	20.69	23.93	28.67	21.03	33.45
EBIT Margin(%)	24.89	30.66	37.65	21.53	4.21	15.67	17.29	17.87	25.94	22.47	32.35
Pre Tax Margin(%)	14.08	21.41	26.66	8.34	-7.1	7.63	9.83	10.62	22.46	17.94	23.03
PAT Margin (%)	10.38	15.71	20.16	4.82	-10.55	4.91	11.54	6.43	15.64	12.39	18.53
Cash Profit Margin (%)	18.19	22.35	26.19	13.82	-1.9	12.04	20.1	18.78	24.64	17.92	23.78
ROA(%)	3.83	6.45	6.93	1.09	-2.59	1.46	2.96	1.13	3.23	3.32	3.76
ROE(%)	8.75	13.63	14.61	2.29	-4.87	2.51	5.1	1.77	4.55	5.26	6.64
ROCE(%)	11.98	16.34	17.35	6.83	1.43	6.17	6.06	4.16	6.75	7.44	7.9
Receivable days	72.72	43.14	52.4	91.17	57.56	37.2	48.24	51.41	26.61	20.27	22.6
Inventory Days	24.7	24.6	31.68	47.2	41.44	28.47	37.62	48.95	50.72	49.54	43.44
Payable days	-639.17	510.01	0	4513.5	0	0	0	0	0	0	0
PER(x)	16.13	19.53	9.56	52.54	0	47.38	14.05	77.58	86.01	55.54	91.35
Price/Book(x)	1.39	2.56	1.32	1.22	1.21	1.17	0.75	1.24	3.64	2.91	5.76
Dividend Yield(%)	3.38	1.69	2.88	0.8	0	1.38	2.35	2.27	0.67	0.83	0.38
EV/Net Sales(x)	2.46	3.69	2.75	3.37	3.55	2.86	2.11	5.49	13.75	7.9	18.13
EV/Core EBITDA(x)	6.29	9.76	6.29	11.04	12.44	12.53	8.32	18.17	39.35	30.49	48.21
Net Sales Growth(%)	-9.28	9.12	-7.41	-31.07	4.23	21.52	-15.71	-32.83	25.72	57.55	-10.63
EBIT Growth(%)	-20.44	34.39	13.69	-60.59	-79.62	352.48	-7.01	-30.57	82.5	36.43	28.68
PAT Growth(%)	-39.33	65.08	18.85	-83.52	-328.13	156.6	97.98	-62.6	206.06	24.78	33.64
EPS Growth(%)	-39.33	65.08	19.82	-83.54	-326.44	156.57	97.85	-62.61	206.56	24.72	33.58
Debt/Equity(x)	0.71	0.56	0.58	0.41	0.32	0.28	0.24	0.14	0.09	0.46	0.47
Current Ratio(x)	1.06	1.08	0.42	0.51	0.56	0.62	1.01	0.85	2.39	0.59	0.65
Quick Ratio(x)	0.93	0.9	0.32	0.36	0.44	0.52	0.87	0.76	2.04	0.43	0.56
Interest Cover(x)	2.3	3.31	3.43	1.63	0.37	1.95	2.32	2.46	7.44	4.96	3.47
Total Debt/Mcap(x)	0.51	0.22	0.44	0.34	0.26	0.24	0.32	0.11	0.03	0.16	0.08

JSW Energy Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	74.69	74.69	74.66	74.66	74.66	73.38	73.38	73.67	69.32	69.32
FII	5.27	5.34	5.14	5.18	5.18	8.37	8.5	8.37	15.37	14.92
DII	10.08	10.09	10.09	10.06	9.59	9.7	9.36	9.3	9.21	9.78
Public	9.96	9.88	10.12	10.1	10.57	8.54	8.76	8.66	6.1	5.98
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	122.79	122.79	122.79	122.79	122.79	120.69	120.69	121.16	121.15	121.15
FII	8.67	8.78	8.45	8.53	8.52	13.77	13.98	13.77	26.87	26.08
DII	16.57	16.59	16.59	16.55	15.77	15.95	15.4	15.29	16.1	17.09
Public	16.38	16.25	16.64	16.61	17.39	14.05	14.4	14.25	10.66	10.45
Others	0	0	0	0	0	0	0	0	0	0
Total	164.4	164.4	164.47	164.47	164.47	164.47	164.47	164.47	174.78	174.78

Pros

Company has delivered good profit growth of 30% CAGR over last 5 years

Cons

Company has a low return on equity of 5% over the last 3 years.
Stock is trading at 5.2 times its book value.

* 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.