Q4 2026 JSW Energy Ltd Earnings Call Transcript
Key Points
- JSW Energy Ltd (BOM:533148) increased its installed capacity by 2.6 gigawatts, reaching a total of 13.45 gigawatts, with a 58% year-on-year growth in generation.
- The company reported its highest-ever annual EBITDA of INR 11,041 crores in FY26.
- JSW Energy Ltd's renewable energy capacity additions accounted for a significant portion of the total, with wind, solar, hybrid, and hydro projects contributing to growth.
- The integration of O2 Power, a 4.7-gigawatt renewable energy platform, has progressed well, with operating capacity growing to approximately 2 gigawatts.
- The company has a robust project pipeline of approximately 4.6 gigawatts, with letters of intent secured, placing it on track to deliver its 30-gigawatt target by 2030.
- Total power demand in India grew modestly at 0.9% in FY26, the most muted growth in the last five years, due to an extended monsoon season.
- The merchant market remained soft through most of FY26, averaging approximately INR 3.86 per unit on exchanges, reflecting muted demand.
- JSW Energy Ltd experienced power curtailment due to evacuation constraints, resulting in a revenue loss of approximately INR 50 crores for the year.
- The company's net debt has risen during this phase of accelerated investment, with a net debt to EBITDA ratio of approximately 5.2 times.
- There are ongoing challenges related to project readiness and power evacuation, with delays in the execution of connectivity projects.
Ladies and gentlemen, good day and welcome to JSW Energy Q4 FY26 post result earnings call hosted by PL Capital. (Operator Instructions)
I now hand the conference over to Mr. Vishal Periwal from PL Capital. Thank you, and over to you, Mr. Periwal.
Yeah, thanks, Michelle. Good afternoon, everyone. So, I welcome you all for the quarter four earnings call of JSW Energy.
Today, we have a leadership team of GSW Energy with us-led by Mr. Sharad Mahendra, Joint MD and CEO; Mr. Chandrasekaran Prabhakaran, CFO; and Mr. Vikas Choudhary, Head of Investor Relations and ERM.
I'd like to thank you to the management for giving PL Capital the opportunity to host the call.
And now I'm giving the speaker to Sharad, sir, for the brief from him, and then we'll have a line open for Q&A. Over to you, sir.
Thank you, Michelle. A very good afternoon to everyone and thank you all
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