Check quarterly/annual P&L statement directly.
Jsw energy is aggressively doing capex for FY 25 and upcoming year.
Even they bought ksk mahanadi through nclt route and acquired O2 power last month.
Interesting times ahead for the company and investors.
Surprised to see this thread is so silent, when so much of things are happening in this company. With the good track record of management. They always try to over deliver on there talks.
Some upcoming projects -
Soon they will be starting 1gw of solar module for there captive use.
In couple of months there green hydrogen plant will be online.(Pilot project)
Seeing the growing demand for electricity I think JSWENERGY could be big beneficiary.
There capacity after the acquisition is expected to touch 14gw (till May) which is near to double from last year(7.2gw)
And there BESS project expected to start giving returns from upcoming summer.
Disc. DYOR.
Add more to this let’s discuss for better understanding.
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one must go through O2 power linkedin profile they regularly update on there new orders, hirings, and commercial start of wind, solar projects.
Management of jsw energy guided that once the acquisition is completed they will get 1500cr of ebitda (which 30% of current level) in there book from very first day. And once all the projects comes online they that had given the target of 3750cr of ebitda(from fy27). These doesn’t include recently BESS orders.(Aprx 1GW).
And in my point of view parag sharma, ceo O2 power. Is very knowledgeable and will lead the company to new heights.
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Morgan stanley overweight on jsw energy with base price target of 545 , and bull case target of 1008.
Some key highlights -
Ebitda cagr of 24% over fy 24-28e (even without considering ksk mahanadi and bess)
Renewable ebitda to grow at 52%
Though debt to increase due to expansion in both organic and inorganic way, but it’s manageable as projects are fully ppa signed.
The stance is overly aggressive, as per ICRA rating rationale, The company is exposed to execution risks such as delays in land acquisition and transmission connectivity, as witnessed in the recent past for few projects, pertaining to the significant ongoing debt-funded capacity expansion of ~8.9 GW, entailing a total cost of ~Rs 55,000 crore (excluding storage projects). Net debt/OPBITDA jumped from 2x in FY22 to 4.5x now. they are foraying into everything from BESS, Hydrgoen to Pumped hydro. the current OP is around 5k and interest expense is around 2k, interest coverage post acquisition of O2 and KSK , i’m yet to go through,
As both the acquisition are in running stage so ofcourse op will increase once it is done.
Ksk op 2400 around (excluding 1.8gw which will take 2.5-3 years to come online)
O2 op around 1750 (once 2.3gw comes online, june’25)
Even if you take 8.8% as interest cost for the funds they borrow to buy both these acquisition then too they will be able to get good bottom line.
Here is the attached file for your reference in FY 2023 ksk generated 620cr of np and op of 1900cr aprx.
And during concall management said it was 2400cr for FY 24
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Currently they are having dual aggressive management O2 power+ jsw energy.
On top of them we have sajjan jindal.
Good times ahead, expanding agressively.
Small tender win for jsw energy but at good price. Company moving fast towards bess project. The game on bess could be interesting and big one.
Capacity added till March for this quarter stands at 159mw total capacity 8400mw.
(Approx 18% increase yoy)
The wait is over… Got CCI approval, max it should take take a month from here to complete the acquisition.
The next is O2 power.
Interesting to see how the plan roll out…
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JSW energy news:
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JSW Energy Gets CCI Nod for O2 Power Acquisition! !
Another acquisition will be completed soon.
Total operational capacity as on 31st March could be around 12000mw.
After this I am looking for the wind and hydro projects which will get operational soon.
Till June they said to touch 14000mw, hope they come near to that.
Jsw energy is fully ready to get benefitted from hotter summer.
Even the DAM is increasing with demand. From this quarter the result should starts picking (Q4’25)
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The total capacity as on March 31,2025 stands at 10.8 gw against 7.2 gw at end of 2024. Almost 50% rise. And soon O2 power acquisition going to complete may be in next few weeks. That will inch capacity towards 13-14gw+ till June 2025
Energy generation sector would not be affected by trump tariff in direct way.
For short term many trigger are there such as gdp growth, hot summers, and as AC demand is increasing generation companies stock is going to be benefited.
As per iex in March trading volume saw 29% increase so that is clear a uptrend in usage of electricity.
With jsw energy focusing on increasing capacity organically and inorganic way must keep on radar for short to long term.
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