On Thursday’s trading session, the shares of India’s largest energy company rose by 2.4 percent to reach an intraday high of ₹528.95 per share, following the board’s plan to raise funds of up to ₹5,000 crore.
At 11:2 a.m., JSW Energy Ltd shares were trading at ₹524.70 per share, up ₹7.90 or 1.53 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹ 86,082 crore.
According to the company’s exchange filing, the Board of Directors to meet on Tuesday, April 2nd, 2024, to discuss various proposals, including raising capital of up to ₹5,000 crores. The methods for raising funds may include issuing eligible securities through private offerings, preferential allotment, qualified institution placement, or a blend of these strategies.
The company’s revenue has increased by 13 percent yearly, from ₹2,248 crore in Q3FY23 to ₹2,543 crore in Q3FY24. During the same period, Net profit increased by 24 percent, from ₹ 187 to ₹ 232 crore.
JSW Energy Ltd shares have gained 26 percent in the last six months and 136 percent in the last 12 months.
For the recent financial year, JSW Energy reported a net profit margin of 14.13 percent and an operating margin of 25.62 percent.
According to the latest shareholding pattern, the promoters hold 73.39 percent of the company, while foreign institutional investors hold 8.50 percent and domestic institutional investors hold a 9.36 percent stake.
JSW Energy Ltd. operates across various sectors including power generation, transmission, power trading, mining, and equipment manufacturing. Additionally, it holds interests in a joint venture focused on mining activities and an associated company specializing in turbine manufacturing.
As of CY24, JSW Energy has a total power generation capacity of 9.8GW, with a breakdown comprising 39 percent from thermal power generation, 7 percent from solar, 17 percent from hydro power, and 37 percent from wind power. The company aims to ramp up its generation capacity to 20GW and achieve 40GWh of storage by FY30.
Furthermore, JSW Energy provides energy products and services, including 1GW solar module manufacturing and 3800 TPA of green hydrogen and derivatives.
Written by Omkar Chitnis
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