Sales of Thermal segment has gone up 5.90% to Rs 2,265.10 crore (accounting for 72.78% of total sales).  Sales of Renewables segment has gone up 49.36% to Rs 847.30 crore (accounting for 27.22% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 13.09% to Rs 907.83 crore.  PBIT of Thermal segment fell 18.57% to Rs 506.53 crore (accounting for 55.80% of total PBIT).  PBIT of Renewables segment rose 122.09% to Rs 401.30 crore (accounting for 44.20% of total PBIT).  

PBIT margin of Thermal segment fell from 29.08% to 22.36%.  PBIT margin of Renewables segment rose from 31.85% to 47.36%.  Overall PBIT margin fell from 29.66% to 29.17%.  

 Full year results analysis.

Net sales (including other operating income) of JSW Energy has increased 2.26% to Rs 11745.39 crore.  Sales of Thermal segment has gone down 0.67% to Rs 7,941.75 crore (accounting for 68.93% of total sales).  Sales of Renewables segment has gone up 9.23% to Rs 3,578.90 crore (accounting for 31.07% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 0.07% to Rs 3,933.81 crore.  PBIT of Thermal segment fell 10.20% to Rs 1,858.48 crore (accounting for 47.24% of total PBIT).  PBIT of Renewables segment rose 11.15% to Rs 2,075.33 crore (accounting for 52.76% of total PBIT).  

PBIT margin of Thermal segment fell from 25.88% to 23.40%.  PBIT margin of Renewables segment rose from 56.99% to 57.99%.  Overall PBIT margin fell from 34.92% to 34.15%.  

Operating profit margin has declined from 46.86% to 44.45%, leading to 2.99% decline in operating profit to Rs 5,220.82 crore.  Purchase of finished goods cost rose from 1.09% to 1.20%.   Employee cost increased from 3.17% to 3.95%.   Other expenses rose from 48.88% to 50.40%.   Power and Oil fuel cost fell from 39.89% to 37.94%.   

Other income rose 96.32% to Rs 894.1 crore.  PBIDT rose 4.76% to Rs 6114.92 crore.  Provision for interest rose 10.51% to Rs 2269.13 crore.  Loan funds rose to Rs 50,185.18 crore as of 31 March 2025 from Rs 31,572.97 crore as of 31 March 2024.  Inventories rose to Rs 905.33 crore as of 31 March 2025 from Rs 830.67 crore as of 31 March 2024.  Sundry debtors were higher at Rs 1,319.82 crore as of 31 March 2025 compared to Rs 844.20 crore as of 31 March 2024.  Cash and bank balance rose to Rs 4,695.17 crore as of 31 March 2025 from Rs 4,206.60 crore as of 31 March 2024.  Investments rose to Rs 9,755.29 crore as of 31 March 2025 from Rs 7,034.86 crore as of 31 March 2024 .  

PBDT rose 1.64% to Rs 3845.79 crore.  Provision for depreciation rose 1.30% to Rs 1654.64 crore.  Fixed assets increased to Rs 55,989.94 crore as of 31 March 2025 from Rs 38,591.47 crore as of 31 March 2024.  Intangible assets increased from Rs 639.82 crore to Rs 8,446.23 crore.  

Profit before tax grew 1.89% to Rs 2,191.15 crore.  Share of profit/loss was 37.80% higher at Rs 22.75 crore.  Provision for tax was expense of Rs 231.02 crore, compared to Rs 442.26 crore.  Effective tax rate was 10.43% compared to 20.41%.

Minority interest increased 1,548.97% to Rs 31.99 crore.  Net profit attributable to owners of the company increased 13.25% to Rs 1,950.89 crore.  

Equity capital increased from Rs 1,641.22 crore as of 31 March 2024 to Rs 1,745.25 crore as of 31 March 2025.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 69.26% as of 31 March 2025 ,compared to 73.67% as of 31 March 2024 .  Promoters pledged stake was 11.13% as of 31 March 2025 ,compared to 10.80% as of 31 March 2024 .  

Cash flow from operating activities decreased to Rs 3,838.48 crore for year ended March 2025 from Rs 6,233.63 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 6,708.57 crore, compared to Rs 8,032.77 crore during the year ended March 2024.