Financials JSW Energy Limited

Equities

JSWENERGY

INE121E01018

Independent Power Producers

Market Closed - Bombay S.E. 06:29:52 2024-04-26 am EDT 5-day change 1st Jan Change
600.6 INR -0.70% Intraday chart for JSW Energy Limited -4.11% +46.81%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 119,139 69,938 144,428 491,264 394,824 1,047,224 - -
Enterprise Value (EV) 1 201,837 138,850 202,876 555,426 616,624 1,287,444 1,282,477 1,229,820
P/E ratio 17.1 x 6.36 x 18.2 x 28.5 x 26.8 x 54.8 x 38.6 x 29.7 x
Yield 1.38% 2.35% 2.27% 0.67% 0.83% 0.38% 0.42% 0.53%
Capitalization / Revenue 1.3 x 0.85 x 2.09 x 6.02 x 3.82 x 8.55 x 6.64 x 5.85 x
EV / Revenue 2.21 x 1.68 x 2.93 x 6.8 x 5.97 x 10.5 x 8.13 x 6.87 x
EV / EBITDA 6.71 x 4.7 x 6.98 x 18.7 x 18 x 23.4 x 17.1 x 13.7 x
EV / FCF 9.05 x 7.08 x 6.21 x 84.4 x -28.7 x -47.5 x 118 x 36.3 x
FCF Yield 11.1% 14.1% 16.1% 1.18% -3.49% -2.11% 0.85% 2.76%
Price to Book 1.01 x 0.6 x 1 x 2.81 x 2.13 x 4.91 x 4.44 x 3.97 x
Nbr of stocks (in thousands) 1,641,038 1,641,731 1,642,158 1,643,574 1,640,315 1,743,629 - -
Reference price 2 72.60 42.60 87.95 298.9 240.7 600.6 600.6 600.6
Announcement Date 5/16/19 5/20/20 6/25/21 5/3/22 5/23/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 91,376 82,727 69,222 81,672 103,318 122,447 157,750 179,090
EBITDA 1 30,096 29,569 29,066 29,733 34,211 55,127 74,962 89,736
EBIT 1 18,460 17,888 17,396 18,423 22,519 40,361 55,015 67,741
Operating Margin 20.2% 21.62% 25.13% 22.56% 21.8% 32.96% 34.88% 37.83%
Earnings before Tax (EBT) 1 8,969 11,142 10,986 22,383 19,428 22,753 34,158 43,073
Net income 1 6,951 10,999 7,955 17,286 14,778 17,930 25,600 33,194
Net margin 7.61% 13.3% 11.49% 21.17% 14.3% 14.64% 16.23% 18.54%
EPS 2 4.240 6.700 4.840 10.50 8.990 10.96 15.57 20.22
Free Cash Flow 1 22,310 19,611 32,644 6,580 -21,520 -27,104 10,845 33,888
FCF margin 24.42% 23.71% 47.16% 8.06% -20.83% -22.14% 6.87% 18.92%
FCF Conversion (EBITDA) 74.13% 66.32% 112.31% 22.13% - - 14.47% 37.76%
FCF Conversion (Net income) 320.94% 178.29% 410.37% 38.06% - - 42.36% 102.09%
Dividend per Share 2 1.000 1.000 2.000 2.000 2.000 2.278 2.511 3.171
Announcement Date 5/16/19 5/20/20 6/25/21 5/3/22 5/23/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4
Net sales 1 20,875 38,150 18,935 24,407 30,263 23,875 22,481 26,700 29,278 32,594 61,873 25,428 28,253
EBITDA 1 9,316 16,281 7,912 6,071 10,220 8,896 6,249 7,393 12,221 18,804 31,025 11,108 12,802
EBIT 1 6,453 - 5,100 3,299 7,335 5,954 3,298 4,480 8,241 - - 7,107 8,492
Operating Margin 30.91% - 26.93% 13.52% 24.24% 24.94% 14.67% 16.78% 28.15% - - 27.95% 30.06%
Earnings before Tax (EBT) 1 6,066 - 4,075 9,690 7,528 6,047 2,347 3,506 4,260 10,919 - 3,102 4,454
Net income 1 3,392 5,403 3,239 8,644 5,604 4,657 1,796 2,720 2,899 8,502 11,400 2,313 3,270
Net margin 16.25% 14.16% 17.11% 35.41% 18.52% 19.5% 7.99% 10.19% 9.9% 26.08% 18.43% 9.1% 11.57%
EPS 2 2.070 - - 5.240 3.400 2.840 1.090 1.660 1.760 5.170 - 1.410 1.925
Dividend per Share - - - - - - - - - - - - -
Announcement Date 10/29/21 10/29/21 1/19/22 5/3/22 7/21/22 10/28/22 1/20/23 5/23/23 7/14/23 10/20/23 10/20/23 1/23/24 -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 82,698 68,912 58,448 64,161 221,800 240,221 235,253 182,596
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.748 x 2.331 x 2.011 x 2.158 x 6.483 x 4.358 x 3.138 x 2.035 x
Free Cash Flow 1 22,310 19,611 32,644 6,580 -21,520 -27,104 10,845 33,888
ROE (net income / shareholders' equity) 6.06% 8.85% 6.08% 7.39% 7.93% 8.99% 11.7% 14%
ROA (Net income/ Total Assets) 2.64% 4.07% 3.09% 4.11% 3.71% 6.12% 7.28% 7.52%
Assets 1 263,307 270,317 257,741 420,211 398,372 292,769 351,708 441,527
Book Value Per Share 2 72.00 70.90 88.30 106.0 113.0 122.0 135.0 151.0
Cash Flow per Share 2 15.00 12.70 22.50 17.90 12.70 43.00 45.90 48.90
Capex 1 2,335 1,210 4,354 22,941 42,363 70,033 89,498 66,814
Capex / Sales 2.56% 1.46% 6.29% 28.09% 41% 57.19% 56.73% 37.31%
Announcement Date 5/16/19 5/20/20 6/25/21 5/3/22 5/23/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
600.6 INR
Average target price
446.2 INR
Spread / Average Target
-25.70%
Consensus
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