JSW Energy Ltd Share Price – NSE /  BSE

Power Generation & Distribution, Mid Cap

JSW Energy Ltd is up for a third straight session today. The stock is quoting at Rs 465.2, up 1.32% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.02% on the day, quoting at 25723.35. The Sensex is at 83606.72, down 0.16%. JSW Energy Ltd has slipped around 10% in last one month.

Meanwhile, Nifty Energy index of which JSW Energy Ltd is a constituent, has slipped around 0.65% in last one month and is currently quoting at 35657.55, up 1.76% on the day. The volume in the stock stood at 12.45 lakh shares today, compared to the daily average of 33.8 lakh shares in last one month.

The benchmark February futures contract for the stock is quoting at Rs 466.7, up 1.2% on the day. JSW Energy Ltd is down 5.79% in last one year as compared to a 8.55% jump in NIFTY and a 8.81% jump in the Nifty Energy index.

The PE of the stock is 89.78 based on TTM earnings ending December 25.

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Revenue from operations jumped 67.36% YoY to Rs 4,081.76 crore for the quarter ended 31 December 2025.

The company posted a pre-tax loss exceptional items of Rs 107.69 crore in Q3 FY26, as against a profit before tax of Rs 150.04 crore in Q3 FY25. The company reported an exceptional loss of Rs 65.19 crore during the quarter.

EBITDA increased 97.48% YoY to Rs 2,202 crore in Q3 FY26, primarily driven by contributions from acquired assets, including the Mahanadi thermal plant and the O2 Power portfolio.

Strategic acquisitions boosted EBITDA growth, with the Mahanadi plant contributing approximately Rs 726 crore and O2 Power contributing Rs 278 crore of EBITDA during the quarter.

During the quarter, total power sale volumes rose 65% YoY to 11,118 MUs, while power sales under long-term PPAs increased 63% YoY to 9,151 MUs. Growth was driven by organic renewable energy capacity additions, contributions from the Mahanadi plant and O2 Power, and higher generation at the Utkal and Vijayanagar thermal plants. Short-term thermal sales increased 80% YoY to 1,968 MUs, supported by a shift towards domestic coal-based capacity at Utkal and Mahanadi.

Cash and cash equivalents stood at Rs 6,181 crore as of 30 September 2025. Liquidity remained ample, with total cash balances of Rs 7,159 crore as of 31 December 2025.

The company?s consolidated net worth and net debt as of 31 December 2025 stood at Rs 29,634 crore and Rs 63,771 crore, respectively, resulting in a net debt-to-equity ratio of 2.2x. Net debt to pro-forma steady-state EBITDA (excluding CWIP debt) stood at 4.9x. Receivables, measured in DSO terms, improved to 73 days, compared with 96 days a year ago.

Sharad Mahendra, joint managing director and CEO of JSW Energy, said, We delivered a strong quarterly performance, driven by sizeable capacity additions leading to record-high power sales and robust EB/TOA growth. The quarter was a milestone for us with the commissioning of India's largest green hydrogen plant at Vijayanagar, with a capacity of 3,800 TPA. Our acquisitions of 02 Power and KSK have been fully integrated and are now contributing meaningfully to earnings. We remain firmly committed to our 2030 goals of 30 GW of generation capacity and 40 GWh of storage

JSW Energy is a private sector power producer in India and part of JSW group. It has established its presence across the value chains of power sector with diversified assets in power generation and transmission.

The counter fell 7.35% to Rs 442.50 on the BSE.

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Net profit of JSW Energy rose 150.22% to Rs 419.94 crore in the quarter ended December 2025 as against Rs 167.83 crore during the previous quarter ended December 2024. Sales rose 67.36% to Rs 4081.76 crore in the quarter ended December 2025 as against Rs 2438.88 crore during the previous quarter ended December 2024.

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JSW Thermal Energy Two, a subsidiary of JSW Energy, has signed a Power Purchase Agreement (PPA) with West Bengal State Electricity Distribution Company (WBSEDCL) for a greenfield 1,600 MW (2 x 800 MW) super/ultra super critical thermal power plant and will be commissioned in Salboni, West Bengal, within 6 years.

The plant is awarded under competitive bidding process invited by WBSEDCL. The plant will utilize domestic linkage coal allocated to West Bengal under the SHAKTI B (iv) policy. This is the second PPA which the Company has signed with WBSEDCL after the signing of 1,600 MW earlier in March 2025.

The Company currently owns and operates 5,658 MW of thermal generation capacity. With 3,200 MW under construction at Salboni and an option to add 1,800 MW at KSK Mahanadi, the Company's total thermal capacity is expected to increase to 10,658 MW, with the entire incremental capacity using domestic coal.

JSW Energy has total locked-in generation capacity of 32.1 GW comprising of 13.3 GW operational, 14 GW under-construction across thermal and renewable, 150 MW under-acquisition hydro and has pipeline of 4.6 GW. The company also has 29.4 GWh of locked-in energy storage capacity through hydro pumped storage projects of 26.4 GWh and battery energy storage system of 3.0 GWh. The Company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by 2030 and achieve Carbon Neutrality by 2050.

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