JSW Energy Ltd
JSW Energy Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
JSW Energy added 2.3 GW capacity in H1 FY26, aiming to exceed 15 GW total generation capacity by fiscal year-end, signaling strong volume growth. JSW Energy has significantly increased installed capacity from 7.7 GW to 13.2 GW in one year, boosting net generation by 52% YoY and revenue by 55% in Q2 FY26.
From JSW Energy Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- JSW Energy added 2.3 GW capacity in H1 FY26, aiming to exceed 15 GW total generation capacity by fiscal year-end, signaling strong volume growth.
- Net generation rose 52% YoY in Q2 FY26, with revenue up 55%, and EBITDA up 67%, indicating robust sales and profitability expansion.
- Half-year EBITDA already crossed last fiscal year's total, showcasing accelerating growth momentum.
- New LOAs and bids, including a 400 MW LOA for Utkal plant, will enhance cashflow predictability and reduce merchant market exposure.
- Renewables contributed 18% to total electricity in Q2, up from 15% YoY, with increasing focus on hybrid and storage-integrated projects, suggesting future growth in value-added segments.
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Profitability & Margins
See what JSW Energy Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Capital expenditure guidance of ₹1,30,000 crore by 2030 to achieve 30 GW capacity and 40 GWh energy storage.
- Acquisition of GE Power India Ltd.’s Boiler Manufacturing Business to enhance in-house technology and support thermal power expansion.
- Majority stake acquisition in KSK Water Infrastructure to supply raw water for existing and future thermal plants.
- Establishing a 5 GWh per annum battery assembly plant in Pune, operational by Q3 FY26, supporting BESS and domestic content requirements.
- Acquisition agreement for 150 MW Tidong Hydro Power Plant from Statkraft, commissioning by October 2026, strengthening hydro portfolio.
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Top-ranked in Power
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- JSW Energy has a renewable LOA (Letter of Award) orderbook of 2.6 GW still pending for signing PPAs.
- There is a broader pendency of about 40 GW of bids with LOAs issued but PPAs yet to be signed across the sector.
- Out of their total 4 GW renewable portfolio, only 900 MW of pure solar capacity is contracted but not signed, indicating a challenge in this segment.
- The company cannot specify timelines for PPA signings due to market uncertainties but remains confident of reaching its 30 GW capacity target.
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JSW Energy Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹4.5K Cr, net profit ₹574 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What JSW Energy Ltd's management said in earlier quarters
- Q2 FY25 earnings call analysis →
- Q3 FY24 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q3 FY23 earnings call →
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- Reliance Infrastructure Ltd (Q2 FY26)
Revenue: ₹12,345 Crore . Key investor presentation takeaways from Reliance Infrastructure Ltd's Q2 FY26 investor presentation — and how it ranks against sector
- Reliance Power (Q2 FY26)
Revenue for H1 FY26: ₹8,257 crore . Key investor presentation takeaways from Reliance Power Ltd's Q2 FY26 investor presentation — and how it ranks against secto
- GMR Urban (Q2 FY26)
Consolidated Total Income: INR 19.2bn, up 28% YoY and 9% QoQ (Page 10). Key investor presentation takeaways from GMR Power & Urban Infra Ltd's Q2 FY26 investor
- Adani Energy Solutions Ltd (Q2 FY26)
Distribution business capex around INR 1,500-1,600 crores, translating to INR 250-275 crores EBITDA. Key concall takeaways from Adani Energy Solutions Ltd's Q2…
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Frequently Asked Questions
What were JSW Energy Ltd Q2 FY26 results?
JSW Energy added 2.3 GW capacity in H1 FY26, aiming to exceed 15 GW total generation capacity by fiscal year-end, signaling strong volume growth. JSW Energy has significantly increased installed capacity from 7.7 GW to 13.2 GW in one year, boosting net generation by 52% YoY and revenue by 55% in Q2 FY26.
What is JSW Energy Ltd share price analysis?
JSW Energy Ltd currently shows a neutral. The stock trades at a P/E of 44.1 with a market cap of ₹88,475 Cr. Investors should review the full earnings analysis for detailed insights.
Is JSW Energy Ltd planning capital expenditure?
Capital expenditure guidance of ₹1,30,000 crore by 2030 to achieve 30 GW capacity and 40 GWh energy storage.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.