On Thursday’s trading session, the shares of one of India’s prominent energy company surged by 3.8 percent to Rs. 717.25 on BSE, after the company secured a Letter of Award (LoA) for the supply of 230 MW renewable energy.
At 01:00 p.m., the shares of JSW Energy Limited (NS:JSWE) were trading in the green at Rs. 707.7, up by 2.4 percent, as against its previous closing price of Rs. 690.95, with a market cap of Rs. 1.23 lakh crores.
Is JSW Energy a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
What’s the News:
As per the latest regulatory filings with the stock exchanges, JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, received a letter of award from Solar Energy Corporation of India Limited.
The order is for the supply of 230 megawatts (MW) of renewable energy.
The capacity is awarded against the tariff-based competitive bidding process invited for the supply of 630 MW of such energy projects.
Following this capacity award, the total locked-in generation capacity of JSW Energy has increased to 16.4 GW, which includes a total locked-in Hybrid capacity of 2.3 GW (including FDRE).
Previous News:
On 29th July, JSW Neo Energy Limited received a letter of intent (LoI) from Gujarat Urja Vikas Nigam Limited for setting up a 192 MW Hybrid Power Project, including an additional 96 MW under the green shoe option.
Financials:
JSW Energy Limited experienced significant growth in its net profit, showing a year-on-year rise of 84 percent from Rs. 290 crores in Q1 FY23-24 to Rs. 534 crores in Q1 FY24-25.
However, the company’s revenue from operations decreased during the same period from Rs. 2,928 crores to Rs. 2,879 crores, indicating a decline of around 1.7 percent YoY.
The company expects to have an installed generation capacity of 10 GW by FY24-25, up from 7.5 GW currently. JSW Energy has a total locked-in generation capacity of 16.4 GW comprising 7.5 GW operational, 2.3 GW under construction across wind, thermal and hydro and an RE pipeline of 6.6 GW (PPAs signed for 2 GW).
The company also has 4.2 GWh of locked-in energy storage capacity through a battery energy storage system and hydro-pumped storage project.
JSW Energy plans to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030 and aims to achieve Carbon Neutrality by 2050.
Stock Performance:
The stock has delivered multibagger returns of nearly 143 percent in one year and around 39.4 percent of positive returns in the last six months. So far in 2024, the shares of JSW Energy have given about 72.2 percent of positive returns.
About the company:
Incorporated in 1994, JSW Energy Limited, a diversified energy vertical of the JSW Group, is primarily engaged in the business of generation of power with principal places located at Vijayanagar (Karnataka), Ratnagiri (Maharashtra), Nandyal (Andhra Pradesh) and Salboni (West Bengal).
Written by Shivani Singh
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