JSW Energy Reports Robust Q2 FY26 Results with 67% EBITDA Growth and Significant Capacity Expansion

JSW Energy , one of India's leading power producers, has reported strong financial results for the second quarter of fiscal year 2026, marked by substantial growth in revenue and EBITDA, alongside significant capacity expansion.

Financial Highlights

The company's performance in Q2 FY26 was characterized by impressive year-on-year growth:

Metric	Q2 FY26	YoY Growth
Net Generation	14.90 billion units	52.00%
Total Revenue	₹5,300.00+ crore	55.00%
EBITDA	₹3,200.00 crore	67.00%
Cash Profit	₹1,500.00+ crore	27.00%

Despite the robust operational performance, profit after tax (PAT) decreased by 17% to ₹705.00 crore, primarily due to higher interest and depreciation expenses associated with newly capitalized assets.

Capacity Expansion and Operational Achievements

JSW Energy has made significant strides in expanding its operational capacity:

Total installed capacity reached 13.20 GW, representing a 71% year-on-year increase from 7.74 GW.
Over the past 12 months, the company added 5.50 GW of capacity, including 3.30 GW of renewables and 1.80 GW of thermal power.
Notable additions in Q2 FY26 include the commissioning of the 240 MW Kutehr hydro project, 148 MW of wind, and 56 MW of solar capacity.

Strategic Developments

The company announced several strategic initiatives during the quarter:

Acquisition of GE Power India Ltd.'s boiler manufacturing business, enhancing in-house capabilities for thermal power expansion.
Majority stake acquisition in KSK Water Infrastructure, supporting the 1,800 MW KSK Mahanadi Thermal Power Plant.
Establishment of a 5 GWh per annum battery assembly plant in Pune, expected to be operational in Q3 FY26.
Signing of a definitive agreement to acquire the 150 MW Tidong Hydro Power Plant from Statkraft for ₹1,728.00 crore.

Future Outlook

JSW Energy remains committed to its growth trajectory:

The company is on track to exceed 15 GW of generation capacity by the end of the fiscal year.
It maintains its target of reaching 30 GW capacity by 2030.
The under-construction portfolio stands at 12.50 GW, all tied up under long-term Power Purchase Agreements (PPAs).

Market and Regulatory Environment

The power sector witnessed a turnaround in Q2 FY26, with power demand growing by 3.30% year-on-year to 449 billion units. This growth came despite an extended monsoon, underscoring the resilience of India's power demand.

JSW Energy's Joint Managing Director and CEO, Sharad Mahendra, noted the shift in renewable energy bidding towards hybrid projects and solar plus battery energy storage systems, reflecting the evolving needs of the power market.

The company continues to focus on execution excellence, efficient capital allocation, and stakeholder value creation, positioning itself for sustained growth in India's dynamic power sector.

Conclusion

JSW Energy's Q2 FY26 results demonstrate the company's ability to capitalize on the growing power demand in India while strategically expanding its capacity across various energy sources. With a strong pipeline of projects and a focus on both thermal and renewable energy, JSW Energy is well-positioned to play a significant role in India's evolving energy landscape.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.09%	+1.86%	-2.26%	+11.34%	-27.76%	+726.90%

JSW Energy , a leading power company in India, has announced plans to ramp up investments in the second half of the fiscal year, targeting significant capacity expansion. The company's strategic moves come in response to slower progress in the first half, attributed to an extended monsoon season.

Investment Strategy and Capacity Targets

JSW Energy has set ambitious goals for its capacity expansion:

Target	Details
Capacity by Fiscal Year-End	Over 15 gigawatts
Long-term Capacity Goal	30 gigawatts by 2030
Energy Storage Target	40 gigawatt hours by 2030
Planned Capital Expenditure	INR 130,000 crores by 2030

The company's investment strategy is guided by a disciplined approach to project returns, with the hurdle rate set at mid to high teen Internal Rate of Return (IRR).

Accelerated Second Half Investments

Despite facing challenges in the first half of the fiscal year due to an extended monsoon season, JSW Energy remains committed to its growth trajectory. The company plans to increase investments in the second half to compensate for the slower progress earlier in the year.

This strategic acceleration in investments underscores JSW Energy's determination to meet its capacity expansion targets and strengthen its position in India's rapidly evolving power sector.

Long-term Vision

JSW Energy's ambitious plans reflect its long-term vision for growth in the Indian power market. By aiming to surpass 15 gigawatts of installed capacity by the end of the fiscal year and setting a target of 30 gigawatts by 2030, the company is positioning itself as a major player in India's energy transition.

The substantial planned capital expenditure of INR 130,000 crores by 2030 demonstrates JSW Energy's commitment to sustainable growth and its confidence in the future of India's power sector.

As JSW Energy moves forward with its expansion plans, stakeholders will be keenly watching how the company navigates the challenges and opportunities in the dynamic energy landscape.