Share price of this large-cap stock moved up by nearly 1.2 percent on BSE to Rs. 503.55 in the morning trading session of Monday, compared to the previous closing price of Rs. 497.6, after the company announced receiving the Letter of Award from Solar Energy Corporation of India Limited (SECI).
With a market capitalisation of Rs. 80,737 crores, in the last one year, JSW Energy Limited has delivered positive returns of about 99.3 percent and around 24.1 percent returns in the last six months. So far in 2024, it has given positive returns of around 19.2 percent.
According to recent regulatory filings with the stock exchanges, JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Ltd., has won a Letter of Award (LoA) for an additional 500 MW of wind capacity under greenshoe option for the SECI Wind Power Projects (Tranche – XVI).
As a result, the cumulative capacity allotted to JSW Neo under SECI Tranche XVI stands at 1,000 MW.
The current installed generation capacity of the company is 7.2 GW, of which 1.6 GW is wind, and expects to reach 9.8 GW of installed capacity by CY24.
With the 500 MW awarded capacity under SECI Tranche XVI, the company’s total locked-in generation capacity increases to 12.5 GW, with wind accounting for 4.6 GW.
In terms of financials, the revenue from operations of JSW Energy fell by 21.96 percent QoQ from Rs. 3,259 crore in Q2 FY22-23 to Rs. 2,543 crore in Q2 FY23-24.
The company’s net profit also increased by around 72.92 percent QoQ, from Rs. 857 crore in Q2 FY23-24 to Rs. 232 crore in Q3 FY23-24.
JSW Energy Ltd is one of the leading Private sector power producers in India and part of the JSW Group which has a significant presence in sectors such as steel, energy, infrastructure, cement, and sports among others.
JSW Energy Ltd has established its presence across the value chains of the power sector with diversified assets in power generation, and transmission.
Written by Shivani Singh
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