JSW Energy

₹260.6 -3.4 | 1.3%

WEBSITE BSE:533148 NSE : JSW ENERGY 09 Jun, 13:34

Market Cap ₹42852 Cr.

Stock P/E 29.0

P/B 2.3

Current Price ₹260.6

Book Value ₹ 113.3

Face Value 10

52W High ₹369

Dividend Yield 0.77%

52W Low ₹ 182

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JSW Energy Research see more...

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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Price

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Peer Comparison

JSW Energy Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	1609	1570	1728	2087	1894	2441	3026	2387	2248	2670
Other Income	50	44	132	150	91	214	89	209	102	136
Total Income	1659	1614	1860	2237	1984	2655	3115	2596	2350	2806
Total Expenditure	1004	937	1029	1158	1102	1309	2004	1498	1623	1925
Operating Profit	655	677	830	1080	882	1346	1111	1098	727	881
Interest	191	257	290	191	195	100	193	204	214	233
Depreciation	292	294	288	284	281	277	289	294	295	291
Exceptional Income / Expenses	0	0	0	0	0	0	120	0	0	0
Profit Before Tax	172	126	252	604	405	968	749	600	218	357
Provision for Tax	34	27	47	270	87	92	198	148	48	69
Profit After Tax	138	99	205	334	319	876	551	452	170	288
Adjustments	-15	7	-4	5	5	-12	9	14	10	-16
Profit After Adjustments	124	107	201	339	324	864	560	466	180	272
Adjusted Earnings Per Share	0.8	0.6	1.2	2.1	2	5.3	3.4	2.8	1.1	1.7

JSW Energy Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	6119	8934	8705	9380	9824	8263	8049	9138	8273	6922	8167	10331
Other Income	147	213	202	230	240	217	465	368	287	237	569	536
Total Income	6265	9148	8908	9610	10065	8480	8514	9506	8560	7160	8736	10867
Total Expenditure	4671	6141	5454	5757	5846	4939	5286	6284	5316	4016	4598	7050
Operating Profit	1594	3007	3454	3854	4219	3541	3228	3221	3244	3144	4138	3817
Interest	717	963	1206	1137	1498	1685	1456	1192	1051	896	777	844
Depreciation	503	662	810	790	854	969	966	1164	1168	1167	1131	1169
Exceptional Income / Expenses	-161	-197	-378	-34	150	0	-418	0	61	0	0	120
Profit Before Tax	213	1186	1060	1892	2017	887	388	865	1086	1081	2230	1924
Provision for Tax	42	273	284	515	556	269	253	212	33	276	495	463
Profit After Tax	171	912	776	1377	1460	618	134	653	1053	806	1735	1461
Adjustments	-1	-9	-22	-28	-13	11	-56	43	47	-10	-6	17
Profit After Adjustments	170	904	755	1350	1447	629	78	695	1100	795	1729	1478
Adjusted Earnings Per Share	1	5.5	4.6	8.2	8.9	3.9	0.5	4.2	6.7	4.8	10.5	9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	-4%	-0%	3%
Operating Profit CAGR	32%	9%	3%	10%
PAT CAGR	115%	39%	23%	26%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	7%	77%	28%	17%
ROE Average	11%	9%	7%	10%
ROCE Average	12%	10%	10%	11%

JSW Energy Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	5700	6204	6571	7518	9704	10368	11110	11822	11646	14507	17415
Minority's Interest	50	45	50	55	1	2	-4	-12	-24	-9	2
Borrowings	8717	8853	8932	8062	11948	13126	10821	9240	8281	6972	6876
Other Non-Current Liabilities	691	1147	1423	1946	2528	2591	1805	1682	2630	3360	3614
Total Current Liabilities	4672	5092	3465	3444	6410	4463	4876	5057	6351	5763	7578
Total Liabilities	19831	21341	20441	21025	30591	30550	28608	27790	28884	30594	35485
Fixed Assets	10974	13925	13635	13191	20298	19491	18877	17825	16713	15637	14831
Other Non-Current Assets	5845	3678	3546	4189	5999	6984	6404	6161	5647	8299	12969
Total Current Assets	3011	3738	3260	3646	4295	4075	3327	3804	6524	6658	7686
Total Assets	19831	21341	20441	21025	30591	30550	28608	27790	28884	30594	35485

JSW Energy Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	1220	876	972	1019	1671	314	810	561	474	896	1051
Cash Flow from Operating Activities	2029	1725	2269	3394	3538	3853	3934	2491	2086	3700	2952
Cash Flow from Investing Activities	-1820	-944	-363	-422	-3431	-762	-215	-55	301	-1033	-1392
Cash Flow from Financing Activities	-553	-684	-1859	-2327	-1622	-2595	-3968	-2523	-1965	-2515	-781
Net Cash Inflow / Outflow	-345	96	48	645	-1516	496	-249	-86	422	153	778
Closing Cash & Cash Equivalent	876	972	1019	1664	314	810	561	474	896	1051	1835

JSW Energy Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	1.04	5.51	4.6	8.23	8.9	3.86	0.48	4.24	6.7	4.84	10.54
CEPS(Rs)	4.11	9.6	9.67	13.21	14.23	9.75	6.71	11.07	13.53	12.01	17.48
DPS(Rs)	0.5	2	2	2	2	0.5	0	1	1	2	2
Book NAV/Share(Rs)	34.74	37.81	40.06	45.84	59.65	63.61	67.64	71.93	70.79	88.18	105.96
Core EBITDA Margin(%)	23.66	31.26	37.35	38.63	40.5	40.23	34.32	31.22	35.74	41.99	43.7
EBIT Margin(%)	15.2	24.05	26.03	32.3	35.77	31.13	22.9	22.52	25.83	28.56	36.81
Pre Tax Margin(%)	3.47	13.27	12.18	20.17	20.53	10.74	4.82	9.47	13.13	15.62	27.3
PAT Margin (%)	2.79	10.21	8.92	14.68	14.86	7.48	1.67	7.14	12.73	11.64	21.24
Cash Profit Margin (%)	11.01	17.62	18.22	23.1	23.56	19.21	13.67	19.88	26.85	28.49	35.09
ROA(%)	0.91	4.43	3.72	6.64	5.66	2.02	0.45	2.31	3.72	2.71	5.25
ROE(%)	3	15.34	12.16	19.55	16.96	6.17	1.25	5.7	8.99	6.17	10.89
ROCE(%)	6	13.31	13.63	18.09	16.99	10.44	7.73	9.07	9.75	8.92	12.23
Receivable days	54.54	59.5	63.86	46.11	75.76	112.39	75.59	51.51	66.03	66.69	36.53
Inventory Days	38.79	24.66	17.97	18.76	22	27.14	25.59	19.78	24.14	27.28	28.96
Payable days	0	0	-1118.56	668.46	0	0	0	0	0	0	0
PER(x)	59.07	9.92	12.88	14.4	7.81	16.27	153.13	17.14	6.36	18.16	28.35
Price/Book(x)	1.76	1.45	1.48	2.58	1.17	0.99	1.08	1.01	0.6	1	2.82
Dividend Yield(%)	0.82	3.66	3.38	1.69	2.88	0.8	0	1.38	2.35	2.27	0.67
EV/Net Sales(x)	3.17	2.12	2.21	3.02	2.63	2.88	2.92	2.44	2.01	3.22	6.95
EV/Core EBITDA(x)	12.15	6.3	5.58	7.36	6.12	6.72	7.28	6.91	5.13	7.1	13.72
Net Sales Growth(%)	42.23	46.01	-2.56	7.75	4.74	-15.89	-2.6	13.53	-9.47	-16.32	17.98
EBIT Growth(%)	-35	131.08	5.47	33.7	16.01	-26.81	-28.33	11.6	3.88	-7.49	52.07
PAT Growth(%)	-79.73	434.72	-14.9	77.36	6.04	-57.65	-78.27	385.54	61.39	-23.51	115.38
EPS Growth(%)	-79.8	431.38	-16.48	78.81	8.12	-56.57	-87.7	791.12	58.13	-27.7	117.66
Debt/Equity(x)	1.75	1.67	1.54	1.24	1.53	1.39	1.07	0.89	0.85	0.58	0.51
Current Ratio(x)	0.64	0.73	0.94	1.06	0.67	0.91	0.68	0.75	1.03	1.16	1.01
Quick Ratio(x)	0.48	0.65	0.82	0.9	0.57	0.78	0.57	0.66	0.93	1.09	0.9
Interest Cover(x)	1.3	2.23	1.88	2.66	2.35	1.53	1.27	1.73	2.03	2.21	3.87
Total Debt/Mcap(x)	0.99	1.16	1.04	0.48	1.3	1.39	1	0.89	1.41	0.58	0.18

JSW Energy Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	74.87	74.68	74.67	74.66	74.66	74.66	74.69	74.69	74.66	74.66
FII	6	5.55	5.91	5.92	5.51	5.36	5.27	5.34	5.14	5.18
DII	6.89	7.17	6.46	7.49	9.18	10.17	10.08	10.09	10.09	10.06
Public	12.24	12.6	12.97	11.93	10.64	9.81	9.96	9.88	10.12	10.1
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	122.99	122.69	122.7	122.7	122.75	122.75	122.79	122.79	122.79	122.79
FII	9.86	9.12	9.71	9.73	9.06	8.81	8.67	8.78	8.45	8.53
DII	11.32	11.78	10.61	12.3	15.1	16.71	16.57	16.59	16.59	16.55
Public	20.11	20.69	21.31	19.6	17.5	16.13	16.38	16.25	16.64	16.61
Others	0	0	0	0	0	0	0	0	0	0
Total	164.28	164.28	164.33	164.34	164.4	164.4	164.4	164.4	164.47	164.47

Pros

Company has delivered good profit growth of 22% CAGR over last 5 years
Company has reduced debt.

Cons

Company has a low return on equity of 9% over the last 3 years.

* 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.