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Informist, Wednesday, Oct. 15, 2025

By Sunil Raghu

AHMEDABAD – JSW Energy Ltd. is expected to report subdued growth in its consolidated net profit due to an increase in depreciation and high finance costs, despite a healthy rise in its net sales. JSW Energy's September quarter revenue is expected to grow on an improvement in power generation due to capacity additions and seasonally high plant load factors for hydroelectric plants.

JSW Energy is expected to produce 13.5 billion units of electricity in the September quarter, up 37% on year, due to contribution from acquisitions, the new unit at Ind-Barath, and the recently commissioned renewable assets.

JSW Energy's consolidated net profit for the September quarter is estimated at INR 8.58 billion, up 0.5% on year, according to the average of estimates by four brokerages. The highest estimate for net profit is INR 9.61 billion from Kotak Institutional Equities and the lowest estimate is INR 8.11 billion from Antique Stock Broking Ltd.

The company's consolidated net sales are estimated at INR 55.93 billion, up 73% on year, according to the estimates. The highest estimate for net sales is INR 56.97 billion from Kotak Institutional Equities whereas the lowest estimate of INR 53.74 billion is from JM Financial Institutional Securities Pvt. Ltd. The company is slated to announce its September quarter earnings on Friday.

JSW Energy's earnings before interest, tax, depreciation, and amortisation, or EBITDA, is estimated at INR 29.98 billion for the September quarter, according to the average of the estimates. The highest estimate for EBITDA is INR 30.56 billion from Kotak while the lowest is INR 28.73 billion from Axis Securities.

JSW Energy's EBITDA is expected to grow due to 3 gigawatts of renewable additions and contribution from the KSK Mahanadi plant and unit 2 of 350 MW capacity at JSW Utkal. This growth is further supported by the addition of 443 MW, which has taken the total operational capacity to 13.2 GW. Seasonally, the September quarter is strong for JSW Energy due to its wind and hydro power capacity, which do well in this period.

On Wednesday, shares of JSW Energy were at INR 545.75 per share on the National Stock Exchange, up 0.9% from the previous close. The stock is up about 6% since the company announced its June quarter earnings. 

Of the 10 research reports on the company available with Informist, nine have a 'buy' or equivalent rating on JSW Energy and one has a 'sell' recommendation. The average target price of the 'buy' recommendations is INR 671 per share.

The following are the Jul-Sept earnings estimates for JSW Energy from four brokerages in descending order by the estimate of net profit in INR million:

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Edited by Tanima Banerjee

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