JSW Energy Q3FY24 Results: PAT Rises 28%; Stock Rallies 554% In 3 Years

Shares of large-cap stock JSW Energy Ltd traded at a new 52-week high value of Rs 518.65 on Tuesday as the company announced its Q3FY24 results today. JSW Energy shares closed 4.91% lower at Rs 485.05 per share today. JSW Energy, part of billionaire Sajjan Jindal-led JSW Group operates in the Power Generation sector.
For the quarter ending December 31, 2023, the company reported a 28% growth in profit, supported by greater power demand and lower fuel costs.

Total Revenue during the quarter increased 13% YoY to Rs 2,661 Cr and EBITDA at Rs 1,229 Cr was up 69% YoY driven by incremental contributions from the renewable portfolio and strong thermal performance, largely driven by a buoyant merchant market. The power producer's PAT increased by 29% YoY at Rs 231 Cr, while Cash PAT increased by 28% YoY to Rs 628 Crore.

According to the company, rapid urbanization, government-led capital expenditure, and a strong investment cycle are expected to boost overall power demand in the medium term.

JSW Energy has a total power generation capacity of 9.8 GW, of which the installed capacity is 6.8 GW. Under-construction capacity of 3 GW is expected to be commissioned by 2024.

In its Renewable Assets segment, the company said that the total operating RE revenue increased 93% YoY to Rs 545 Cr driven by the acquired RE portfolio and greenfield RE assets, and Operating EBITDA at Rs 389 Cr was up 74% YoY.

Q3 FY24 Highlights

• EBITDA of Rs 1,229 Cr surged 69% YoY resulting in PAT of Rs 231 Cr up 29% YoY; Cash PAT stood at Rs 628 Cr
• Receivables (excl. acquired RE portfolio) on DSO basis stood at 69 days; a healthy collection trend sustained
• Balance Sheet: Net Debt to Equity at 1.3x, Net Debt to EBITDA at 4.6x, Net Debt to EBITDA (excl. CWIP) at 3.2x.
• Cash & Cash Equivalents stood at Rs 2,867 Crore.

JSW Energy Share price performance:

Shares of JSW Energy have gained 68.39% in the last six months. The last one-year, 2-year, and 3-year returns from the stock have increased 96.62%, 57.71%, and 554.59% respectively.

Dividend history for JSW Energy Ltd.

According to trendlyne data, JSW Energy Ltd. has declared 13 dividends since June 29, 2010. In the past 12 months, JSW Energy Ltd. has declared an equity dividend amounting to Rs 2.00 per share.

At today's intraday share price of Rs 484.90, JSW Energy Ltd.'s dividend yield is 0.41%.

About JSW Energy Ltd:

JSW Energy Ltd. is one of the leading private sector power producers in India and part of the US$ 14 billion JSW Group, which has a significant presence in sectors such as Steel, Energy, Infrastructure, Cement and Sports, among others. JSW Energy has established its presence across the value chains of the power sector with diversified assets in power generation, transmission, and trading. With strong operations, robust corporate governance, and prudent capital allocation, JSW Energy continues to deliver sustainable growth and create value for all stakeholders.