Q2 Results: JSW Energy Reports Marginal Surge In Net Profits

JSW energy

JSW Energy Limited today reported its results for the quarter (“Q2 FY25” or the “Quarter”) ended September 30, 2024.

Key Highlights of Q2 FY25

Operational:

• Net Generation increased 14% YoY at 9.8 BUs driven by wind capacity additions, higher generation at thermal and hydro plants
• Total RE generation is up by 14% YoY at 5.0 BUs driven by 37% YoY increase in wind generation and 5% YoY increase in hydro generation; Total thermal generation is up by 14% YoY at 4.8 BUs
• Long Term PPA Generation: Up by 9% YoY

Consolidated Financials:

• Reported EBITDA declined by 5% YoY to , 1,907 Cr while underlying EBITDA increased 4% YoY primarily on account of higher generation
• PAT and Cash PAT were marginally up YoY at ,853 Cr and ,1,190 Cr, respectively
• Best in class Balance Sheet: Net Debt to Equity at 0.9x, Net Debt to EBITDA1 at 4.lx, Net Debt to EBITDA1 {excl. CWIP) at 2.2x
• Receivables on DSO basis stood at 70 days
• Cash & Cash Equivalents2 stood at, 5,719 Cr

ESG and Sustainability

• MSCI: Achieved an ‘A’ rating from MSCI for ESG practices
• CDP: Climate A- (Leadership) I Water Security B {Management)
• DJSI: Achieved highest ever score of 77 /100 in S&P Global DJSI – ESG rating
• GPTW: Recognised as ‘Best Workplaces’ by ‘Great Place to Work’ in 2024

Growth Projects:

Generation: Total locked-in capacity of 19.2 GW

• 204 MW of wind capacity commissioned during the quarter; 495 MW of capacity added in YTD FY25 resulting in total installed capacity of 7.8 GW
• Commissioning of 440 MW of 454 MW SECI X Wind Project
• Won RE bids to install 3.7 GW taking the total locked-in generation capacity to 19.2 GW
• New PPAs signed for 3.8 GW of RE projects during the quarter, with this 2/3rd of the projects won in CY24 have been tied-up under long-term PPA

Products and Services

• Green Hydrogen: Equipment deliveries started and civil works in progress for the 3,800 TPA hydrogen supply agreement with JSW Steel; expected commissioning by Mar-25
• BESS: Construction of the 1.0 GWh SECI project is in progress with expected commissioning by Jun-25
• Pumped Hydro Storage: Signed Energy Storage Facility Agreement for 12 GWh of Pumped Hydro Storage with Maharashtra State Electricity Distribution Company, expected commissioning in 48 months.