MarketFriction

JSW Energy Ltd

NSE JSWENERGY · BSE 533148 · Power Generation
₹485.00 -1.96%
NSE close2026-10-01
52 week range427.75 - 617.35
Market cap₹91,885 Cr.
P/E45.8
Nifty 200Nifty 500Nifty Midcap 50Nifty Midcap 100Midcap 150Nifty EnergyNifty Commodities No price band Delivery 54.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,2592,5432,7562,8793,2382,4393,1895,1435,1774,0824,4995,207
Expenses1,3791,4321,5871,4621,5531,5251,9852,3552,1812,0522,2492,334
Operating Profit1,8801,1111,1691,4181,6859141,2042,7892,9962,0302,2502,873
OPM %58%44%42%49%52%37%38%54%58%50%50%55%
Other Income134120130167230206313271186111356232
Interest5145215335115185646751,3061,4181,4851,6081,519
Depreciation409400427375392406482739809829809890
Profit before tax1,0923103396981,0051503611,015955-173188696
Tax %22%25%-2%24%13%-5%-15%18%14%-406%-205%23%
Net Profit857232345534877157415836824529574533
EPS in Rs5.171.412.142.994.880.962.334.254.032.402.112.57
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9,8248,2638,0499,1388,2736,9228,16710,33211,48611,74518,90118,965
Expenses5,7964,9395,3366,2835,3164,0094,5967,0506,1046,5248,8338,816
Operating Profit4,0293,3242,7132,8552,9572,9133,5723,2825,3825,22110,06810,149
OPM %41%40%34%31%36%42%44%32%47%44%53%54%
Other Income34022147398376248575674472916920884
Interest1,4981,6851,4561,1921,0518967778442,0532,2695,8166,030
Depreciation8549699661,1641,7381,1671,1311,1691,6331,6553,1853,336
Profit before tax2,0178923388975441,0992,2381,9432,1672,2141,9861,666
Tax %28%30%75%24%6%25%22%24%20%10%-39%
Net Profit1,460623856841,0818231,7431,4801,7251,9832,7622,459
EPS in Rs8.833.840.484.246.704.8410.518.9910.4711.1612.7411.11
Dividend Payout %22%13%0%24%15%41%19%22%19%18%16%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%22%22%35%
Compounded Profit Growth5%23%19%-8%
Stock Price CAGR21%5%5%-6%
Return on Equity7%8%8%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,6401,6271,6281,6401,6411,6421,6421,6401,6411,6411,7451,756
Reserves5,8788,0778,7419,47010,18110,00412,86515,77516,98819,19125,61628,995
Borrowings9,29414,86214,34911,88310,5559,8408,3718,94325,05131,57350,18576,946
Other Liabilities2,6083,9733,6723,7283,5493,4453,3284,1574,7375,36211,90916,110
Total Liabilities19,42028,53928,38926,72125,92624,93126,20730,51448,41757,76789,455123,807
Fixed Assets13,19120,29819,49118,87717,82516,71315,63714,83125,02028,94654,15574,523
CWIP4543215312944003914732,0914,78810,28510,28117,465
Investments1,6191,0121,5792,4152,4511,8544,0526,6236,0337,0359,75511,379
Other Assets4,1576,9086,7895,1355,2515,9746,0456,97012,57611,50115,26420,441
Total Assets19,42028,53928,38926,72125,92624,93126,20730,51448,41757,76789,455123,807
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3,3943,5383,8533,9342,4912,0823,7002,9522,0846,2343,8389,898
Cash from Investing Activity-422-3,272-762-215-55301-1,030-1,387-6,778-8,197-22,990-18,523
Cash from Financing Activity-2,327-1,622-2,595-3,968-2,523-1,962-2,515-7817,3271,67520,22310,617
Net Cash Flow645-1,357496-249-874211557842,634-2891,0721,993
Free Cash Flow3,0343,5033,4843,8152,2731,9893,358658-2,152-1,798-2,868-213
CFO/OP106%95%123%151%94%76%133%95%74%123%80%101%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days4610896525793513054274131
Inventory Days
Days Payable
Cash Conversion Cycle4610896525793513054274131
Working Capital Days-60-95-61-100-72-44-14-108-159-124-200-268
ROCE %18%16%10%9%9%7%9%12%7%9%6%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.39%73.39%73.67%69.32%69.32%69.32%69.26%69.26%69.26%69.26%69.41%66.53%
FIIs8.38%8.50%8.37%15.37%14.92%14.57%13.43%12.36%12.12%9.50%9.74%11.41%
DIIs9.69%9.36%9.29%9.21%9.78%10.05%10.94%11.43%11.56%14.39%14.29%16.16%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.03%0.03%
Public8.33%8.53%8.45%5.90%5.81%5.92%6.21%6.79%6.97%6.74%6.44%5.82%
Others0.22%0.21%0.21%0.19%0.15%0.15%0.14%0.14%0.07%0.07%0.06%0.06%
No. of Shareholders2,89,7403,28,9153,60,2414,06,2204,41,9274,82,8775,43,3365,85,8275,85,4455,88,0535,65,6745,55,401

Fundamentals

Market Cap₹ 91,885 Cr.
Current Price₹ 501
Stock P/E45.8
Book Value₹ 175
ROCE8.16 %
ROE7.51 %
Dividend Yield0.40 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)35%
Compounded Profit Growth (TTM)-8%
Consolidated figures.
Valuation
Market capRs 85,229 Cr
Enterprise valueRs 156,409 Cr
P/E (TTM)43.33x
Price to book2.77x
Price to sales4.49x
EV / EBITDA14.18x
EV / EBIT20.32x
EV / sales8.25x
Price to cash flow8.61x
Earnings yield2.31%
Dividend yield0.41%
P/E, 3-year average45.17x
P/B, 3-year average3.43x
P/E, 5-year average38.18x
P/B, 5-year average3.05x
Profitability
Operating margin (excl. other income)53.27%
Operating margin (incl. other income)58.13%
EBITDA margin58.17%
Pre-tax margin8.79%
Net profit margin10.37%
Net margin, latest quarter9.04%
ROE7.71%
ROCE8.42%
ROA2.10%
ROE, 3-year average8.18%
ROCE, 3-year average8.04%
ROA, 3-year average2.67%
ROE, 5-year average8.71%
ROCE, 5-year average8.86%
ROA, 5-year average3.57%
ROIC (approx.)10.50%
Tax rate-39.11%
Other income / net worth2.99%
Growth
Sales growth (latest year)60.92%
Profit growth (latest year)14.78%
Sales CAGR, 3 years22.30%
Sales CAGR, 5 years22.25%
Profit CAGR, 3 years14.86%
Profit CAGR, 5 years23.00%
Sales growth QoQ15.75%
Profit growth QoQ26.75%
Sales growth YoY (latest quarter)1.24%
Profit growth YoY (latest quarter)-36.62%
Per share
EPS (TTM)Rs 11.19
EPS (latest year)Rs 12.74
EPS (latest quarter)Rs 2.68
EPS, 3-year averageRs 11.47
EPS, 5-year averageRs 10.79
Book value per shareRs 174.99
Sales per shareRs 107.92
Cash flow per shareRs 56.33
Free cash flow per shareRs -1.21
Dividend per share (latest year)Rs 2.00
Dividend per share, 3-year averageRs 2.00
Dividend per share, 5-year averageRs 2.00
Dividends
Dividend payout15.69%
Dividend payout, 3-year average17.54%
Dividend payout, 5-year average18.76%
Efficiency
Asset turnover0.15x
Fixed asset turnover0.25x
Inventory turnover7.30x
Inventory days50 days
Debtor days31 days
Debtors turnover11.59x
Cash conversion cycle31 days
Working capital days-268 days
Leverage
Total debtRs 76,946 Cr
Cash and bankRs 5,765 Cr
Net debtRs 71,181 Cr
Debt to equity2.50x
Net debt / EBITDA6.45x
Interest coverage1.28x
Current ratio (filing 2026-03-31)0.76x
Quick ratio (filing 2026-03-31)0.71x
Trade payables (filing 2026-03-31)Rs 1,423 Cr
Owners' fund to total sources24.84%
Debt to assets62.15%
Cash flow
Cash from Operating Activity (latest year)Rs 9,898 Cr
Cash from Investing Activity (latest year)Rs -18,523 Cr
Cash from Financing Activity (latest year)Rs 10,617 Cr
Net Cash Flow (latest year)Rs 1,993 Cr
Free cash flow (latest year)Rs -213 Cr
FCFE (approx.: FCF + change in debt)Rs 26,548 Cr
Cash from ops / profit, 5 years2.58x
Sales to cash flow1.91x
Statement figures
Net sales (TTM)Rs 18,965 Cr
Net sales (latest year)Rs 18,901 Cr
Sales (latest quarter)Rs 5,207 Cr
Operating profit excl. other income (latest year)Rs 10,068 Cr
Operating profit (latest quarter)Rs 2,873 Cr
Other income (TTM)Rs 884 Cr
EBITDA (TTM)Rs 11,033 Cr
PBDT (TTM)Rs 5,003 Cr
Profit before tax (TTM)Rs 1,666 Cr
Tax (latest year)Rs -777 Cr
Net profit (TTM)Rs 1,967 Cr
Net profit (latest year)Rs 2,239 Cr
Net profit (latest quarter)Rs 471 Cr
Depreciation (TTM)Rs 3,336 Cr
Depreciation (latest quarter)Rs 890 Cr
Interest (TTM)Rs 6,030 Cr
Cost of goods sold (latest year)Rs 7,014 Cr
Total expenditure (latest year)Rs 8,833 Cr
Total income (latest year)Rs 19,821 Cr
Share capitalRs 1,756 Cr
ReservesRs 28,995 Cr
Shareholders' fundsRs 30,752 Cr
Total assetsRs 123,807 Cr
Net blockRs 74,523 Cr
Capital work in progressRs 17,465 Cr
InvestmentsRs 11,379 Cr
ReceivablesRs 1,630 Cr
InventoryRs 961 Cr
Other liabilitiesRs 16,110 Cr
Shares outstanding (crore)175.73
Ownership
Promoter holding66.53% (-2.73 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 43.3 is at the 54th percentile of its own 9.4-year range (median 41.9, low 7.3, high 165.3).
P/B 2.77 is at the 51th percentile (median 2.63).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodJSWENERGYNifty 50Difference
1 week-4.9%-2.8% -2.1 pts
1 month-6.4%-6.8% +0.4 pts
3 months-11.9%-7.6% -4.2 pts
6 months+2.8%+0.4% +2.4 pts
1 year-8.2%-9.9% +1.7 pts
2 years-38.8%-13.6% -25.2 pts
3 years+10.9%+14.2% -3.3 pts
5 years+25.9%+27.9% -2.0 pts
184 mutual fund schemes hold about ₹7,787 Cr. Over three months 55 bought more and 38 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Aggressive Hybrid Fund1.47%1,301 -2%
SBI Contra Fund0.82%392 +1%
SBI Large & Midcap Fund0.93%392 -2%
HSBC Midcap Fund2.13%366 +17%
Mirae Asset Large Cap Fund0.91%350 +2%
SBI Midcap Fund1.34%328 -0%
SBI Midcap Fund1.34%326 -0%
SBI Energy Opportunities Fund3.80%316 +6%
SBI ELSS Tax Saver Fund0.73%233 +2%
Edelweiss Mid Cap Fund1.02%203 -25%
SBI Flexicap Fund0.87%202 -1%
SBI Multicap Fund0.65%160 -2%
Sundaram Mid Cap Fund0.95%141 -4%
HDFC ELSS-Tax Saver Fund0.87%139 +100%
Sundaram Mid Cap Fund0.95%138 -4%
Nippon India Multi Cap Fund0.21%117 -11%
Nippon India Power & Infra Fund1.40%113 +8%
HDFC Balanced Advantage Fund0.10%103 +1%
Mahindra Manulife Mid Cap Fund1.90%103 -11%
SBI Infrastructure Fund2.06%99 +2%
Tata Arbitrage Fund0.39%96 +140%
Nippon India Retirement Fund-Wealth Creation2.99%94 -0%
Mirae Asset Aggressive Hybrid Fund0.91%87 -1%
Nippon India Vision Large & Mid Cap Fund1.08%85 -4%
ICICI Pru Arbitrage Fund0.22%78 +389%

Red flags

F-score 6 of 8
explainLow interest cover Interest cover 1.3x in 2026
lookProfit leans on other income Other income was 46% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-04-09JSW Energy Employees Welfare TrustOtherother1,222Off Market
2026-03-30JSW Energy Employees Welfare TrustOtherother545Rs 0.00 CrESOP
2026-03-27JSW Energy Employees Welfare TrustOthersell195Rs 0.01 CrMarket Sale
2026-03-27JSW Energy Employees Welfare TrustOtherother9,463Rs 0.01 CrESOP
2026-03-23JSW Energy Employees ESOP TrustOtherother1,000Rs 0.01 CrESOP
2026-03-23JSW Energy Employees Welfare TrustOthersell4,730Rs 0.23 CrMarket Sale
2026-03-17JSW Energy Employees Welfare TrustOthersell295Rs 0.01 CrMarket Sale
2026-03-16JSW Energy Employees Welfare TrustOthersell318Rs 0.02 CrMarket Sale
2026-03-16JSW Energy Employees ESOP TrustOtherother6,300Rs 0.03 CrESOP
2026-03-12JSW Energy Employees Welfare TrustOtherother10,174Rs 0.01 CrESOP
2026-03-12JSW Energy Employees Welfare TrustOthersell3,618Rs 0.19 CrMarket Sale
2026-03-06JSW Energy Employees Welfare TrustOtherother900Off Market
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹5,207 Cr +1.2% vs Jun 2025. Net profit ₹533 Cr -36.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-05Dividend - Rs 2 Per Share
2025-06-06Dividend - Rs 2 Per Share
2024-05-31Dividend - Rs 2 Per Share
2023-06-02Dividend - Rs 2 Per Share
2022-05-30Dividend - Rs 2 Per Share
2021-07-27 Dividend - Rs 2 Per Share
2020-08-04 Dividend - Re 1 Per Share
2019-08-02 Annual General Meeting/Dividend Re -1 Per Share
2018-07-27 Annual General Meeting
2017-06-30 Annual General Meeting/ Dividend - Re 0.0 Per Share
2016-07-11 Annual General Meeting/ Dividend - Rs 2/- Per Share
2015-07-10Annual General Meeting/ Dividend - Rs 2 Per Share
2014-07-11Annual General Meeting / Dividend - Rs 2/- Per Share
2013-07-12Annual General Meeting / Final Dividend Rs.2/- Per Equity Share
2012-06-14Annual General Meeting And Dividend Re.0.50 Per Share
2011-06-16Annual General Meeting And Dividend Re.1/- Per Share
2010-06-29Annual General Meeting And Dividend Re.0.75 Per Share
DateTypeWhat it says
2026-10-01General UpdatesIntimation of receipt of copy of order sanctioning the Scheme of Arrangementbetween GE Power India Limited ( GEPIL or Demerged Company ) and JSW Ene...
2026-09-29General UpdatesAssignment of Credit Rating Maruti Clean Coal & Power Limited
2026-09-29General UpdatesAssignment of Credit Rating JSW Thermal Energy Limited
2026-09-28General UpdatesAllotment of 50,000 Non- Convertible Debentures of face value Rs. 1,00,000/- each
2026-09-25General UpdatesJSW Energy secures Turbine-Generators for entire 3,200 MW Salboni Thermal Project with 1,600 MW Phase-II Order with Toshiba JSW Power Systems Private ...
2026-09-19General UpdatesUpdate on Material litigation under Regulation 30(4) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regul...
2026-09-16General UpdatesAffirmation of Credit Rating JSW Renewable Energy (Coated) Limited
2026-09-12General UpdatesAssignment and affirmation of Credit Rating JSW Neo Energy Limited
2026-09-11General UpdatesAssignment and affirmation of Credit Rating
2026-09-09General UpdatesAssignment and affirmation of Credit Rating JSW Energy Limited
2026-09-05General UpdatesReaffirmation and assignment of Credit Rating - O2 Companies
2026-09-04General UpdatesJSW Energy surpasses 15 GW of capacity milestone; adds 1,572 MW in FY27
2026-09-03Concall / analyst meetSchedule of meet
2026-09-01General UpdatesReaffirmation and upgrade of Credit Rating - O2 Companies
2026-09-01Change in ManagementResignation of Senior Management Personnel
2026-08-21General UpdatesUpdate on Material litigation under Regulation 30(4) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regul...
2026-08-20General UpdatesThe affirmation of Credit Rating - JSW Renew Energy Two Limited
2026-08-20General UpdatesUpdate on Material litigation under Regulation 30(4) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regul...
2026-08-14General UpdatesAssignment and affirmation of Credit Rating JSW Mahanadi Power Company Limited
2026-08-12General UpdatesExecution of Shareholders Agreement by JSW Neo Energy Limited with Druk Green Power Corporation Limited for the joint development of the 920 MW Punat...
2026-08-10General UpdatesCapacity Addition
2026-08-08Director changeChange in Director(s) of the company.
2026-08-08Board meeting outcomeOutcome of Board Meeting held on August 08, 2026.
2026-08-07General UpdatesAssignment and Re-affirmation of Credit Rating - JSW Mahanadi Power Company Limited
2026-08-07General UpdatesThe update on the acquisition of Maruti Clean Coal and Power Limited by the Company.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.83
Max pain (expiry 2026-10-27)510
Largest call open interest at500
Largest put open interest at600
Implied volatility, at the money29.5%
Underlying at snapshot485.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-292,225
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of JSW Energy Ltd?

JSW Energy Ltd (JSWENERGY) has a market capitalisation of Rs 91,885 Cr. at the 2026-10-01 close.

What is the P/E ratio of JSW Energy Ltd?

JSW Energy Ltd trades at a P/E of 45.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were JSW Energy Ltd's latest quarterly results?

In the Jun 2026 quarter, JSW Energy Ltd sales was Rs 5,207 Cr (+1.2% vs Jun 2025) and net profit was Rs 533 Cr.

What is the 52-week high and low of JSW Energy Ltd?

The 52-week high is Rs 617.35 and the 52-week low is Rs 427.75.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03