JSW Energy Limited (IN:JSWENERGY)
:JSWENERGY
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JSW Energy Limited
(JSWENERGY)
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Rating:55Neutral
Price Target:
₹531.00
▲(4.00% Upside)
Action:Reiterated
Date:05/13/26
The score is primarily constrained by weak cash generation (negative free cash flow in recent years) and higher leverage risk, despite improving revenue momentum and solid operating profitability. Technical indicators are mildly supportive overall, but valuation is stretched with a high P/E and minimal dividend yield.
Positive Factors
Diversified generation mix
JSW Energy’s mix of thermal and renewable generation plus both long-term PPAs and merchant sales provides structural diversification. This reduces concentration risk, allows dispatch optimization across market cycles, and positions the company to benefit from India’s ongoing shift toward renewables over multi-year horizons.
Negative Factors
Persistently negative free cash flow
Sustained negative free cash flow reflects heavy capex and capital intensity that operating cash generation has not covered. This structural shortfall forces reliance on external funding for investments, increases refinancing needs, and raises liquidity risk if operating cash conversion does not improve over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified generation mix
JSW Energy’s mix of thermal and renewable generation plus both long-term PPAs and merchant sales provides structural diversification. This reduces concentration risk, allows dispatch optimization across market cycles, and positions the company to benefit from India’s ongoing shift toward renewables over multi-year horizons.
Read all positive factors
JSW Energy Limited (JSWENERGY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹943.58B
Dividend Yield0.41%
Average Volume (3M)120.49K
Price to Earnings (P/E)36.8
Beta (1Y)0.80
Revenue Growth60.92%
EPS Growth14.55%
CountryIN
Employees2,500
SectorEnergy
Sector Strength52
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)11.59
Shares Outstanding1,757,292,200
10 Day Avg. Volume138,587
30 Day Avg. Volume120,491
Financial Highlights & Ratios
PEG Ratio2.53
Price to Book (P/B)2.68
Price to Sales (P/S)4.36
P/FCF Ratio-13.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹590.00Price Target Upside15.55% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)14.38
Revenue Forecast (FY)₹238.18B
JSW Energy Limited Business Overview & Revenue Model
Company Description
JSW Energy Limited generates and sells power in India. The company has a power generation capacity of 4,559 MW, which includes 3,158 MW of thermal, 1,391 MW of hydro, and 10 MW of solar. It has operations in the States of Karnataka, Maharashtra, R...
How the Company Makes Money
JSW Energy primarily makes money by generating electricity and selling it to off-takers under a combination of (1) long-term Power Purchase Agreements (PPAs) and (2) shorter-term/merchant sales through power exchanges or bilateral contracts. Under...
JSW Energy Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
54
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 159.49B | 189.01B | 117.45B | 114.86B | 103.32B | 81.67B |
| Gross Profit | 90.37B | 93.21B | 66.49B | 64.16B | 41.99B | 44.22B |
| EBITDA | 77.03B | 68.79B | 52.19B | 53.42B | 32.90B | 36.34B |
| Net Income | 20.24B | 22.39B | 19.51B | 17.23B | 14.78B | 17.29B |
Balance Sheet | ||||||
| Total Assets | 1.14T | 1.24T | 899.39B | 582.69B | 487.42B | 309.32B |
| Cash, Cash Equivalents and Short-Term Investments | 71.91B | 90.30B | 56.51B | 46.92B | 46.64B | 20.77B |
| Total Debt | 691.04B | 769.46B | 501.85B | 315.73B | 250.51B | 89.43B |
| Total Liabilities | 820.85B | 906.04B | 608.54B | 372.55B | 300.08B | 135.16B |
| Stockholders Equity | 291.24B | 307.52B | 273.61B | 208.32B | 186.29B | 174.15B |
Cash Flow | ||||||
| Free Cash Flow | -3.95B | -59.75B | -30.09B | -17.99B | -21.52B | 6.58B |
| Operating Cash Flow | 53.38B | 43.35B | 38.38B | 62.34B | 20.84B | 29.52B |
| Investing Cash Flow | -128.99B | -206.64B | -236.13B | -83.18B | -70.09B | -13.92B |
| Financing Cash Flow | 65.21B | 165.73B | 202.23B | 16.75B | 73.27B | -7.81B |
JSW Energy Limited Technical Analysis
Positive
510.60
Price Trends
519.30
Positive
501.09
Positive
509.23
Positive
Market Momentum
0.65
Positive
49.33
Neutral
27.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:JSWENERGY, the sentiment is Positive. The current price of 510.6 is below the 20-day moving average (MA) of 550.13, below the 50-day MA of 519.30, and above the 200-day MA of 509.23, indicating a neutral trend. The MACD of 0.65 indicates Positive momentum. The RSI at 49.33 is Neutral, neither overbought nor oversold. The STOCH value of 27.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:JSWENERGY.
JSW Energy Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹3.81T | 14.56 | ― | 2.66% | 0.88% | 10.00% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | ₹4.25T | 18.08 | ― | ― | -1.75% | -0.85% | |
63 Neutral | ₹239.46B | 12.91 | ― | 3.56% | 9.23% | 12.18% | |
57 Neutral | ₹762.41B | 27.23 | ― | 1.48% | -0.68% | -21.43% | |
55 Neutral | ₹943.58B | 36.79 | ― | 0.41% | 60.92% | 14.55% | |
51 Neutral | ₹1.32T | 32.32 | ― | 0.59% | -4.66% | -5.61% |
* Energy Sector Average
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JSW Energy Limited Corporate Events
JSW Energy Moves to Take Full Control of JSW Mahanadi Power
Apr 9, 2026
JSW Energy has exercised its call option to acquire the remaining 26% equity stake in JSW Mahanadi Power Company Limited from erstwhile financial creditors. The move follows its earlier purchase of a 74% stake under an NCLT-approved resolution pla...
Ind-Ra Affirms IND AA/Stable Rating for JSW Energy’s Jaigad PowerTransco
Mar 9, 2026
India Ratings and Research has affirmed an “IND AA/Stable” credit rating for the bank loan facilities of Jaigad PowerTransco Limited, a subsidiary of JSW Energy Limited, as of March 9, 2026. The reaffirmed high-grade rating underscores...
India Ratings Affirms High Credit Rating for JSW Hydro Energy
Feb 27, 2026
India Ratings and Research has affirmed an “IND AA/Stable/IND A1+” credit rating for the bank loan facilities of JSW Hydro Energy Limited, a step-down subsidiary of JSW Energy. The reaffirmation of this high-grade rating underscores th...
JSW Energy Publishes Postal Ballot Notice in Newspapers for Shareholder E-Voting
Feb 25, 2026
JSW Energy has informed stock exchanges that it has published newspaper advertisements announcing the dispatch of a Postal Ballot and e-voting notice to shareholders, in line with Indian listing regulations. The notice appeared in the Financial Ex...
India Ratings Assigns ‘IND A+/Positive’ to JSW Energy Kutehr Loans
Feb 24, 2026
India Ratings and Research has assigned an ‘IND A+/Positive’ credit rating to the bank loan facilities of JSW Energy (Kutehr) Limited, a step-down subsidiary of JSW Energy Limited. The rating underscores the subsidiary’s creditwo...
JSW Energy Seeks Shareholder Nod to Re-Appoint Independent Director via E-Vote
Feb 23, 2026
JSW Energy Limited has initiated a postal ballot process to seek shareholder approval via special resolution for the re-appointment of Mr. Munesh Khanna as an Independent Director of the company. The notice has been circulated exclusively through ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.