JSW Energy earnings rose in the September 2026 quarter, with consolidated net profit attributable to shareholders increasing 50% from a year earlier to ₹1,056 crore. Revenue from operations climbed 23% to ₹6,368 crore as power sales and generation increased.

Key Takeaways

  • Quarterly power sales rose 17% year over year to 17.5 billion units.
  • The company maintained its target of adding 3 GW of capacity in fiscal 2027.
  • The board approved two separate fund-raising proposals, including one subject to shareholder and regulatory approvals.

JSW Energy earnings and generation

Revenue from the thermal business rose 18% year over year in the second quarter of fiscal 2027, while renewables revenue increased 31%.

Thermal generation climbed 13% to 8.9 billion units, supported by higher output at the Mahanadi and Utkal plants. Renewable generation rose 21% to 8.6 billion units. Wind generation increased 25% and solar generation grew 36%, aided by capacity additions and improved plant performance.

Capacity additions and projects

Installed capacity reached 15,147 MW as of October 5, after additions of 1,686 MW in the first half of fiscal 2027. JSW Energy said it remained on track to add 3 GW during the fiscal year and has a longer-term goal of reaching 30 GW of installed capacity by fiscal 2030.

During the quarter, the company acquired the 300 MW Maruti thermal power plant in Chhattisgarh for an enterprise value of about ₹1,410 crore. It also completed turbine-generator orders for the entire 3,200 MW Salboni thermal project in West Bengal.

The company’s subsidiary JSW Neo Energy signed the Punatsangchhu-III shareholders’ agreement with Bhutan’s Druk Green Power Corporation for joint development of a 920 MW hydropower project. The planned venture is JSW Energy’s first power generation project outside India; Druk Green will hold 51% and JSW Neo Energy 49%.

Separately, the National Company Law Tribunal sanctioned the scheme to demerge GE Power India’s boiler business at Durgapur into JSW Energy.

Fund-raising approvals and balance sheet

On October 28, the board approved raising up to ₹5,000 crore through listed non-convertible debentures on a private placement basis. It separately approved raising up to ₹6,000 crore through eligible securities, subject to shareholder and regulatory approvals.

The ₹6,000 crore proposal represents the unused portion of a ₹10,000 crore limit approved by shareholders in January 2026. JSW Energy plans to seek shareholder approval for the new proposal through a postal ballot.

At September 30, consolidated net worth stood at ₹36,710 crore and cash and cash equivalents at ₹15,698 crore. Net debt-to-equity was 1.79 times, while operational net debt-to-EBITDA was 4.94 times.

Next milestone

The next confirmed step is a shareholder postal ballot on the proposed ₹6,000 crore fund raise.

Read More News

More FinanceVelix news

Disclaimer

This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.