JSW Energy Limited is an India-based power company engaged in the business of power generation through thermal and renewables. Its segments include Thermal, which comprises generation of power from coal and other thermal sources (lignite, gas and oil) from plants owned and related ancillary services; and Renewables, which comprises generation of power from renewable energy sources through hydro, wind, solar and related ancillary services. JSW Energy Limited is the diversified energy vertical of USD 24 billion JSW Group.
The company currently generates 8,400 MW, out of which 3,508 MW is thermal power, 1,391 MW is hydropower, 2,826 MW is wind and 675 MW is solar power. It has operations in the States of Karnataka, Punjab, Maharashtra, Tamil Nadu, Himachal Pradesh, Odisha, Andhra Pradesh, Telangana, Madhya Pradesh, Gujarat, and Rajasthan. The company is present across several Indian states and has stakes in natural resource companies in South Africa.
The company operates diverse power generation facilities across India. The company has a total thermal power generation capacity of 3,508 MW, comprising 1,200 MW at Ratnagiri, 1,080 MW at Barmer, 860 MW at Vijayanagar, 350 MW at Utkal, and 18 MW TPP at Nandyal. In the hydroelectric segment, Baspa Plant is in the higher reaches of the Himalayas and has a generating capacity of approximately 300 megawatts (MW). The Karcham Wangtoo plant is located on the river Satluj in Kinnaur District of Himachal Pradesh and has a generating capacity of approximately 1091 MW.
JSW Energy Ltd's revenue jumped 21.36% since last year same period to ₹3,502.76Cr in the Q4 2024-2025. JSW Energy Ltd's net profit jumped 16.14% since last year same period to ₹408.05Cr in the Q4 2024-2025. On a quarterly growth basis, JSW Energy Ltd has generated 32.42% jump in its revenue since last 3-months. On a quarterly growth basis, JSW Energy Ltd has generated 143.13% jump in its net profits since last 3-months.
In 2023-24, JSW Energy recorded a total income of Rs 114.86 billion, an increase of 5.7 per cent compared to the previous year. Its profit after tax (PAT) for the same period was Rs 17.28 billion as against Rs 7.11 billion in 2022-23, marking an unprecedented 143 per cent growth. The company achieved a total net generation of 27,862 MUs during 2023-24, up 27 per cent from 21,866 MUs in 2022-23. The total renewable generation increased by 54 per cent year on year to 9.3 BUs.
• Revenue Q4 FY25: ₹3,502.76 Cr (21.36% YoY growth)
• Net Profit Q4 FY25: ₹408.05 Cr (16.14% YoY growth)
• Net Profit Margin Q4 FY25: 11.65%
• Annual Revenue FY24: ₹11,486 Cr
• Annual PAT FY24: ₹1,728 Cr
• Power Generation FY24: 27,862 MUs
JSW Energy has a market cap of ₹ 89,486 Cr. Promoter holding in JSW Energy Ltd has gone down to 69.26 per cent as of Mar 2025 from 69.31 per cent as of Jun 2024. In the quarter ending March 2025, JSW Energy Ltd has declared dividend of ₹2 - translating a dividend yield of 0.39%.
The company has been actively expanding its renewable energy portfolio. JSW Energy signs 25-year PPA for 300 MW solar-wind hybrid at ₹3.49/KWh, commissioning in 24 months. In October 2024, it signed a major PPA with Solar Energy Corporation of India Limited (SECI) for the supply of 700 MW of solar capacity awarded under SECI Tranche XIII, at a tariff of Rs 2.56 per kWh for a duration of 25 years.
JSW Energy announced that it has successfully commissioned 281 MW of organic renewable energy capacity with solar capacity of 215 MW and wind capacity of 66 MW. JSW Energy announced a ₹14,000 crore investment to enhance O2 Power's renewable energy capacity to 4.7 GW by 2027, alongside a broader ₹18,000 crore capex plan for FY26.
JSW Energy has total locked-in generation capacity of 29.9 GW comprising of 12.5 GW operational, 12.4 GW under-constructions across wind, thermal and hydro and pipeline of 4.9 GW. Under its Strategy 3.0 roadmap, JSW Energy aims to achieve 30 GW of generation capacity and 40 GWh of energy storage capacity by FY 2030, as part of its long-term commitment to India's clean energy transition. The company has also set a target to become carbon neutral by 2050.
The company is also investing in green hydrogen and energy storage. JSW Energy will set up a commercial-scale 3,800 tpa green hydrogen plant using 25 MW of RTC power. The project is expected to be completed by March 2025. A key project being undertaken by the company is the construction of a 1 GWh BESS project at Fatehgarh, Rajasthan. The project is expected to be commissioned by June 2025, and preparatory works have already started.
JSW Energy major competitors are NHPC, Torrent Power, Tata Power, SJVN, Neyveli Lignite, Reliance Power, Indian Energy Exch. JSW Energy seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
JSW Energy Limited stands as a significant player in India's power generation sector, with its strategic focus on renewable energy expansion, diverse generation portfolio, and ambitious growth targets positioning it well for the country's energy transition journey.
