JSW Energy Limited has reported robust financial and operational results for the first quarter. The company's performance was marked by significant growth in key metrics, driven by capacity additions and strategic acquisitions.

Financial Highlights

• EBITDA surged by 93% year-over-year to ₹3,057.00 crore, up from ₹1,581.00 crore in the same period last year.
• Profit After Tax (PAT) increased by 42% to ₹743.00 crore, compared to ₹520.00 crore in the same period last year.
• Total revenue rose by 78% to ₹5,143.00 crore from ₹2,880.00 crore in the same period last year.
• EBITDA margin improved to 56% compared to 52% year-on-year.

Operational Performance

• Installed capacity increased by approximately 70% year-over-year, reaching 12,768 MW.
• Net generation rose by 71% to 13.5 billion units (BUs), driven by organic renewable energy capacity additions and contributions from recent acquisitions.
• Long-term PPA generation grew by 73% year-over-year to 11.8 BUs.

Strategic Developments

• Completed the acquisition of the 4.7 GW O2 Power platform, contributing to significant capacity growth.
• Mahanadi thermal plant (1,800 MW) generated 2.7 BUs, resulting in an EBITDA of ₹867.00 crore.
• Signed Power Purchase Agreements (PPAs) for 605 MW during the quarter, with additional agreements post-quarter end.
• Total locked-in capacity now stands at 30.3 GW, including 13.0 GW under construction.

Financial Position

Future Outlook

JSW Energy aims to reach 30 GW of generation capacity and 40 GWh of energy storage capacity by FY 2030, with a planned cumulative capex of approximately ₹1,30,000.00 crore.

Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, commented on the results: "This quarter marks an inflection point for JSW Energy as our disciplined investment strategy and sustained capex have driven robust earnings growth and a significant improvement in quality of earnings, driven by a higher share of tied-up capacity."

The company's strong performance reflects its successful expansion strategy and positions it well for future growth in India's evolving energy landscape.

JSW Energy 's wholly owned subsidiary, JSW Neo Energy Limited, has received robust credit ratings from ICRA Limited, signaling confidence in the company's financial stability and operational capabilities.

Credit Ratings Breakdown

ICRA Limited, a leading credit rating agency in India, has assigned the following ratings to JSW Neo Energy:

• Long-term fund based term loans (ECB): 'ICRA AA(CE)/Stable'
• Non-fund based debt facilities: 'ICRA AA-/Stable/ICRA A1+'

These ratings reflect a strong credit profile for the company. The 'AA' rating indicates a high degree of safety regarding timely servicing of financial obligations, while the 'Stable' outlook suggests that the rating is likely to remain unchanged in the near term.

Implications for JSW Neo Energy

The assignment of these favorable credit ratings could potentially benefit JSW Neo Energy in several ways:

1. Enhanced Credibility: The high ratings may boost the company's reputation among investors and stakeholders.
2. Improved Borrowing Capacity: Strong ratings often translate to better terms and lower costs for future borrowings.
3. Market Confidence: These ratings may positively influence market perception of the company's financial health.

Parent Company Update

In related news, JSW Energy Limited, the parent company of JSW Neo Energy, has announced a board meeting. The meeting agenda includes the consideration of unaudited Standalone and Consolidated Financial Results for the quarter ended June 30.

Trading Window Information

JSW Energy has also disclosed that the trading window for dealing in the company's securities, which has been closed for all Designated Persons since July 1, will reopen on August 3. This temporary closure is a standard practice to prevent insider trading around the time of financial results announcements.

The credit ratings assignment and the upcoming financial results review underscore the dynamic nature of the JSW Group's energy sector operations. Investors and market watchers will likely be keen to see how these developments impact the company's performance and market position in the coming months.