Financials JSW Energy Limited

Equities

JSWENERGY

INE121E01018

Independent Power Producers

Market Closed - Bombay S.E. 03:30:55 21/06/2024 pm IST 5-day change 1st Jan Change
723 INR +2.26% Intraday chart for JSW Energy Limited +5.81% +76.72%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 69,938 1,44,428 4,91,264 3,94,824 8,67,994 12,61,045 - -
Enterprise Value (EV) 1 1,38,850 2,02,876 5,55,426 6,16,624 8,67,994 15,18,597 15,69,749 17,47,045
P/E ratio 6.36 x 18.2 x 28.5 x 26.8 x 50.5 x 45.1 x 36.3 x 37.5 x
Yield 2.35% 2.27% 0.67% 0.83% - 0.31% 0.4% 0.67%
Capitalization / Revenue 0.85 x 2.09 x 6.02 x 3.82 x 7.56 x 7.88 x 6.97 x 6.62 x
EV / Revenue 1.68 x 2.93 x 6.8 x 5.97 x 7.56 x 9.49 x 8.67 x 9.18 x
EV / EBITDA 4.7 x 6.98 x 18.7 x 18 x 16.1 x 19.1 x 16.9 x 16.7 x
EV / FCF 7.08 x 6.21 x 84.4 x -28.7 x - -26.4 x 205 x -
FCF Yield 14.1% 16.1% 1.18% -3.49% - -3.78% 0.49% -
Price to Book 0.6 x 1 x 2.81 x 2.13 x - 4.76 x 4.46 x 3.83 x
Nbr of stocks (in thousands) 16,41,731 16,42,158 16,43,574 16,40,315 16,41,130 17,44,304 - -
Reference price 2 42.60 87.95 298.9 240.7 528.9 723.0 723.0 723.0
Announcement Date 20/05/20 25/06/21 03/05/22 23/05/23 07/05/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 82,727 69,222 81,672 1,03,318 1,14,859 1,60,093 1,80,994 1,90,366
EBITDA 1 29,569 29,066 29,733 34,211 53,983 79,445 93,097 1,04,784
EBIT 1 17,888 17,396 18,423 22,519 37,649 60,192 69,908 70,721
Operating Margin 21.62% 25.13% 22.56% 21.8% 32.78% 37.6% 38.62% 37.15%
Earnings before Tax (EBT) 1 11,142 10,986 22,383 19,428 21,669 35,603 44,721 47,411
Net income 1 10,999 7,955 17,286 14,778 17,227 26,129 32,503 37,630
Net margin 13.3% 11.49% 21.17% 14.3% 15% 16.32% 17.96% 19.77%
EPS 2 6.700 4.840 10.50 8.990 10.47 16.04 19.93 19.30
Free Cash Flow 1 19,611 32,644 6,580 -21,520 - -57,421 7,659 -
FCF margin 23.71% 47.16% 8.06% -20.83% - -35.87% 4.23% -
FCF Conversion (EBITDA) 66.32% 112.31% 22.13% - - - 8.23% -
FCF Conversion (Net income) 178.29% 410.37% 38.06% - - - 23.56% -
Dividend per Share 2 1.000 2.000 2.000 2.000 - 2.244 2.910 4.850
Announcement Date 20/05/20 25/06/21 03/05/22 23/05/23 07/05/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4
Net sales 1 38,150 18,935 24,407 30,263 23,875 22,481 26,700 29,278 32,594 61,873 25,428 27,559
EBITDA 1 16,281 7,912 6,071 10,220 8,896 6,249 7,393 12,221 18,804 31,025 11,108 11,754
EBIT 1 - 5,100 3,299 7,335 5,954 3,298 4,480 8,241 - - 7,107 7,486
Operating Margin - 26.93% 13.52% 24.24% 24.94% 14.67% 16.78% 28.15% - - 27.95% 27.17%
Earnings before Tax (EBT) 1 - 4,075 9,690 7,528 6,047 2,347 3,506 4,260 10,919 - 3,102 3,389
Net income 1 5,403 3,239 8,644 5,604 4,657 1,796 2,720 2,899 8,502 11,400 2,313 3,513
Net margin 14.16% 17.11% 35.41% 18.52% 19.5% 7.99% 10.19% 9.9% 26.08% 18.43% 9.1% 12.75%
EPS 2 - - 5.240 3.400 2.840 1.090 1.660 1.760 5.170 - 1.410 2.130
Dividend per Share - - - - - - - - - - - -
Announcement Date 29/10/21 19/01/22 03/05/22 21/07/22 28/10/22 20/01/23 23/05/23 14/07/23 20/10/23 20/10/23 23/01/24 07/05/24
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 68,912 58,448 64,161 2,21,800 - 2,57,552 3,08,704 4,86,000
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.331 x 2.011 x 2.158 x 6.483 x - 3.242 x 3.316 x 4.638 x
Free Cash Flow 1 19,611 32,644 6,580 -21,520 - -57,421 7,659 -
ROE (net income / shareholders' equity) 8.85% 6.08% 7.39% 7.93% - 11.1% 12.4% 11.5%
ROA (Net income/ Total Assets) 4.07% 3.09% 4.11% 3.71% - 6.39% 5.84% -
Assets 1 2,70,317 2,57,741 4,20,211 3,98,372 - 4,08,947 5,56,793 -
Book Value Per Share 2 70.90 88.30 106.0 113.0 - 152.0 162.0 189.0
Cash Flow per Share 2 12.70 22.50 17.90 12.70 - 44.90 50.10 -
Capex 1 1,210 4,354 22,941 42,363 - 1,30,076 1,04,880 1,36,167
Capex / Sales 1.46% 6.29% 28.09% 41% - 81.25% 57.95% 71.53%
Announcement Date 20/05/20 25/06/21 03/05/22 23/05/23 07/05/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
10
Last Close Price
723 INR
Average target price
563.9 INR
Spread / Average Target
-22.00%
Consensus
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