Capitaline

Other income rose 73.32% to Rs 221.74 crore. PBIDT fell 5.06% to Rs 1906.61 crore. Lower PBIDT is largely due to incremental contribution from RE capacity additions, better hydrology at hydro and higher long-term generation at thermal were offset by lower spreads in merchant sales and two-part tariff revision at Hydro plant (due to change in depreciation per CERC regulations). However, underlying PBIDT (excluding hydro true-up of =f174 Crore in Q2 FY24} was up 4% YoY.

Provision for interest rose 0.89% to Rs 518.29 crore. PBDT fell 7.11% to Rs 1388.32 crore. Provision for depreciation fell 4.13% to Rs 391.81 crore. Profit before tax down 8.24% to Rs 996.51 crore. Share of profit/loss was 42.23% higher at Rs 8.42 crore. Provision for tax was expense of Rs 128.17 crore, compared to Rs 235.07 crore. Effective tax rate was 12.75% compared to 21.53%. Minority interest increased 254.60% to Rs 23.51 crore. Net profit attributable to owners of the company increased 0.36% to Rs 853.25 crore. Underlying Net profit, (excluding net of tax hydro true-up of Rs 144 Crore in Q2 FY24) was up 21% YoY.

Sales of Thermal segment has gone up 5.17% to Rs 1,916.55 crore (accounting for 59.91% of total sales). Sales of Renewables segment has gone down 7.36% to Rs 1,282.46 crore (accounting for 40.09% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 9.36% to Rs 1,369.95 crore. PBIT of Thermal segment fell 7.50% to Rs 432.18 crore (accounting for 31.55% of total PBIT). PBIT of Renewables segment fell 10.20% to Rs 937.77 crore (accounting for 68.45% of total PBIT).
PBIT margin of Thermal segment fell from 25.64% to 22.55%. PBIT margin of Renewables segment fell from 75.43% to 73.12%. Overall PBIT margin fell from 47.13% to 42.82%.

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of JSW Energy has declined 1.13% to Rs 6117.12 crore. Sales of Thermal segment has gone down 1.90% to Rs 3,831.34 crore (accounting for 63.59% of total sales). Sales of Renewables segment has gone up 1.34% to Rs 2,193.39 crore (accounting for 36.41% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 3.72% to Rs 2,445.84 crore. PBIT of Thermal segment rose 7.87% to Rs 929.59 crore (accounting for 38.01% of total PBIT). PBIT of Renewables segment rose 1.32% to Rs 1,516.25 crore (accounting for 61.99% of total PBIT).

PBIT margin of Thermal segment rose from 22.06% to 24.26%. PBIT margin of Renewables segment fell from 69.14% to 69.13%. Overall PBIT margin rose from 38.85% to 40.60%.

Operating profit margin has jumped from 50.14% to 50.72%, Employee cost increased from 2.88% to 3.65%. Other expenses rose from 45.05% to 45.63%. Power and Oil fuel cost fell from 37.51% to 36.26%.

Other income rose 80.46% to Rs 384.94 crore. PBIDT rose 5.18% to Rs 3487.55 crore. Provision for interest rose 3% to Rs 1029.35 crore. Loan funds rose to Rs 30,853.06 crore as of 30 September 2024 from Rs 27,783.11 crore as of 30 September 2023. Inventories rose to Rs 715.36 crore as of 30 September 2024 from Rs 638.16 crore as of 30 September 2023. Sundry debtors were higher at Rs 1,610.47 crore as of 30 September 2024 compared to Rs 1,472.76 crore as of 30 September 2023. Cash and bank balance rose to Rs 3,911.49 crore as of 30 September 2024 from Rs 2,859.02 crore as of 30 September 2023. Investments rose to Rs 10,100.96 crore as of 30 September 2024 from Rs 6,700.86 crore as of 30 September 2023 .

PBDT rose 6.12% to Rs 2458.2 crore. Provision for depreciation fell 4.88% to Rs 767.26 crore. Fixed assets increased to Rs 41,343.51 crore as of 30 September 2024 from Rs 32,912.87 crore as of 30 September 2023. Intangible assets declined from Rs 2,554.29 crore to Rs 639.82 crore.

Profit before tax grew 12% to Rs 1,690.94 crore. Share of profit/loss was 51.87% higher at Rs 12.21 crore. Provision for tax was expense of Rs 292.23 crore, compared to Rs 370.68 crore. Effective tax rate was 17.16% compared to 24.42%.

Minority interest increased 405.77% to Rs 35.91 crore. Net profit attributable to owners of the company increased 20.61% to Rs 1,375.01 crore.

Equity capital increased from Rs 1,641.13 crore as of 30 September 2023 to Rs 1,745.08 crore as of 30 September 2024. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 69.32% as of 30 September 2024 ,compared to 73.38% as of 30 September 2023 . Promoters pledged stake was 8.50% as of 30 September 2024 ,compared to 12.78% as of 30 September 2023 .

Cash flow from operating activities decreased to Rs 1,917.43 crore for YTD ended September 2024 from Rs 3,422.75 crore for YTD ended September 2023. Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 3,206.45 crore, compared to Rs 3,909.48 crore during the YTD ended September 2023.

Full year results analysis.

Net sales (including other operating income) of JSW Energy has increased 11.17% to Rs 11485.91 crore. Sales of Thermal segment has gone down 7.18% to Rs 7,995.68 crore (accounting for 70.93% of total sales). Sales of Renewables segment has gone up 119.79% to Rs 3,276.38 crore (accounting for 29.07% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 65.81% to Rs 3,936.73 crore. PBIT of Thermal segment rose 29.37% to Rs 2,069.59 crore (accounting for 52.57% of total PBIT). PBIT of Renewables segment rose 141.07% to Rs 1,867.14 crore (accounting for 47.43% of total PBIT).

PBIT margin of Thermal segment rose from 18.57% to 25.88%. PBIT margin of Renewables segment rose from 51.96% to 56.99%. Overall PBIT margin rose from 23.50% to 34.92%.

Operating profit margin has jumped from 31.76% to 46.86%, leading to 63.99% rise in operating profit to Rs 5,381.78 crore. Purchase of finished goods cost fell from 3.56% to 1.09%. Employee cost increased from 2.98% to 3.17%. Other expenses fell from 61.70% to 48.88%. Power and Oil fuel cost fell from 53.91% to 39.89%.

Other income fell 14.91% to Rs 455.43 crore. PBIDT rose 52.92% to Rs 5837.21 crore. Provision for interest rose 143.21% to Rs 2053.4 crore. Loan funds rose to Rs 31,572.97 crore as of 31 March 2024 from Rs 25,051.07 crore as of 31 March 2023. Inventories declined from Rs 987.08 crore as of 31 March 2023 to Rs 830.67 crore as of 31 March 2024. Sundry debtors were lower at Rs 844.20 crore as of 31 March 2024 compared to Rs 1,531.92 crore as of 31 March 2023. Cash and bank balance rose to Rs 4,206.60 crore as of 31 March 2024 from Rs 4,013.88 crore as of 31 March 2023. Investments rose to Rs 7,034.86 crore as of 31 March 2024 from Rs 6,032.77 crore as of 31 March 2023 .

PBDT rose 27.28% to Rs 3783.81 crore. Provision for depreciation rose 39.70% to Rs 1633.41 crore. Fixed assets increased to Rs 38,591.47 crore as of 31 March 2024 from Rs 29,168.86 crore as of 31 March 2023. Intangible assets stood at Rs 639.82 crore.

Profit before tax grew 19.23% to Rs 2,150.40 crore. Share of profit/loss was 14.41% lower at Rs 16.51 crore. Provision for tax was expense of Rs 442.26 crore, compared to Rs 462.72 crore. Effective tax rate was 20.41% compared to 23.82%.

Minority interest decreased 17.80% to Rs 1.94 crore. Net profit attributable to owners of the company increased 16.58% to Rs 1,722.71 crore.

Equity capital increased from Rs 1,640.54 crore as of 31 March 2023 to Rs 1,641.22 crore as of 31 March 2024. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 73.67% as of 31 March 2024 ,compared to 74.66% as of 31 March 2023 . Promoters pledged stake was 10.80% as of 31 March 2024 ,compared to 13.76% as of 31 March 2023 .

Cash flow from operating activities increased to Rs 6,233.63 crore for year ended March 2024 from Rs 2,084.27 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 8,032.77 crore, compared to Rs 4,236.58 crore during the year ended March 2023.