JSW Energy , a leading power company in India, has reported a remarkable 93% year-on-year increase in Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the first quarter of fiscal year 2026. The company's Ebitda reached Rs 3,057.00 crore, driven by organic renewable capacity additions and strategic acquisitions.

Financial Highlights

Key Growth Drivers

JSW Energy's impressive performance can be attributed to several factors:

1. Wind Capacity Additions: Wind projects added in the previous year operated during the peak season, contributing significantly to the company's performance.
2. Thermal Power Expansion: Commissioning of a 350 MW thermal unit at the JSW Utkal plant boosted overall capacity.
3. Strategic Acquisitions: The company acquired KSK Mahanadi (1,800 MW) and O2 Power, enhancing its portfolio and market presence.

Future Outlook

Sharad Mahendra, Joint MD and CEO of JSW Energy, expressed confidence in maintaining similar Ebitda and margin trends for the remaining quarters of FY26. The company's growth strategy includes:

• A robust 10 GW power purchase agreement project pipeline
• Expected additional capacity from hydro assets, which is anticipated to strengthen performance in Q2

Management Commentary

"We are pleased with our strong performance in Q1FY26," said Sharad Mahendra. "The significant increase in Ebitda and improvement in operating margins demonstrate the success of our strategic initiatives and capacity expansions. We remain optimistic about maintaining this growth momentum throughout the fiscal year."

JSW Energy's focus on renewable energy, strategic acquisitions, and expansion of its thermal and hydro assets positions the company for continued growth in the power sector. As India's energy demand continues to rise, JSW Energy appears well-positioned to capitalize on market opportunities and contribute to the country's evolving energy landscape.

JSW Energy Limited has reported robust operational and financial performance for the first quarter of fiscal year 2026 (Q1 FY26), ended June 30, 2025. The company's strategic investments and capacity additions have driven significant growth in earnings and improved the quality of its revenue streams.

Key Highlights

• Record EBITDA of ₹3,057.00 crore, up 93% year-over-year (YoY)
• Profit After Tax (PAT) increased by 42% YoY to ₹743.00 crore
• Installed capacity grew by 5.2 GW (~70% YoY) to 12,768 MW
• Net generation rose 71% YoY to 13.5 billion units (BUs)

Operational Performance

JSW Energy's total installed capacity at the end of Q1 FY26 stood at 12,768 MW, marking a significant increase of approximately 70% YoY. The company added 1,893 MW during the quarter, including 1,343 MW from the acquisition of O2 Power and 550 MW from organic renewable capacity additions.

Net generation saw a substantial rise of 71% YoY, reaching 13.5 BUs. This growth was driven by organic renewable energy (RE) capacity additions, contributions from O2 Power and the Mahanadi plant, and higher generation at the Vijayanagar plant following long-term tie-ups.

Renewable energy generation during the quarter increased by 54% YoY to 5.0 BUs, propelled by organic wind capacity additions and the integration of O2 Power assets. Net long-term Power Purchase Agreement (PPA) generation grew by 73% YoY to 11.8 BUs.

Financial Performance

JSW Energy reported impressive financial results for Q1 FY26:

The company's strategic acquisitions played a crucial role in driving EBITDA growth. The Mahanadi plant contributed an incremental ₹867.00 crore, while O2 Power (consolidated since April 9, 2025) added ₹219.00 crore to the EBITDA during the quarter.

Balance Sheet and Liquidity

As of June 30, 2025, JSW Energy's consolidated net worth stood at ₹27,738.00 crore, with net debt at ₹59,313.00 crore. This resulted in a Net Debt to Equity ratio of 2.1x. The Net Debt to Proforma Steady-state EBITDA (excluding CWIP) was 4.7x.

The company maintained strong liquidity with cash balances of ₹6,113.00 crore as of June 30, 2025. Receivables in DSO (Days Sales Outstanding) terms remained at a healthy level of 58 days during the quarter.

Strategic Developments

JSW Energy completed the acquisition of the 4.7 GW O2 Power platform, which contributed significantly to the company's growth during the quarter. The company also made progress in its green hydrogen initiatives, with trial runs underway for the 3,800 TPA green hydrogen project at Vijayanagar.

In the thermal power segment, JSW Energy is realigning towards more resilient earnings. The Mahanadi 1,800 MW operational capacity generated 2.7 BUs during Q1 FY26, resulting in an EBITDA of ₹867.00 crore. The company is also shifting its merchant capacity towards domestic coal-based generation.

Future Outlook

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, expressed optimism about the company's future, stating, "We aim to build on this momentum with a cumulative capex of ~₹1,30,000 crore, reaching 30 GW generation capacity and 40 GWh of energy storage capacity by FY 2030."

JSW Energy's strong performance in Q1 FY26 demonstrates the company's successful execution of its growth strategy and positions it well for continued expansion in the Indian power sector.