Mumbai: In a year marked by economic challenges and shifting global energy priorities, JSW Energy continues its steady performance, navigating volatility with a balanced mix of innovation, sustainability, and expansion. The company’s Q2 FY25 results underscore a nuanced position: while overall revenue reflects a modest decline, strategic initiatives in renewable energy and infrastructure lay the groundwork for long-term growth.
In Q2 FY25, JSW Energy’s revenue from operations stood at Rs 3,237.66 crore, a slight decrease from the Rs 3,259.42 crore recorded during the same quarter last year. Although consolidated EBITDA dipped by 5 per cent YoY to Rs 1,907 crore, underlying EBITDA grew by 4 per cent, driven by increased energy generation across its thermal, wind, and hydro assets. Net Profit After Tax (PAT) grew to Rs 853 crore, marking a small but steady YoY increase, underpinned by an uptick in operational efficiency and an optimised debt position, with a net debt-to-equity ratio of 0.9x and net debt-to-EBITDA (excluding CWIP) at 2.2x.
The company’s energy generation surged by 14 per cent YoY to 9.8 billion units (BUs), a growth attributed to the commissioning of 204 MW in wind projects and enhanced generation from both its thermal and hydroelectric assets. Total renewable energy (RE) generation rose by 14 per cent, hitting 5 BUs. Notably, wind generation surged by 37 per cent YoY, while hydro saw a 5 per cent increase. Thermal energy, despite broader industry challenges, remained resilient, contributing an impressive 4.8 BUs—an increase of 14 per cent YoY.
JSW Energy’s commitment to environmental and social governance (ESG) is also noteworthy. The company received an ‘A’ rating from MSCI for its ESG practices and achieved a leadership score of “A-” for climate-related transparency from CDP. In addition, the company secured an all-time high score of 77/100 in S&P’s Global DJSI-ESG rating, underscoring its dedication to ethical and sustainable practices within the energy sector.
As JSW Energy transitions toward a low-carbon energy future, its strategic focus remains steadfast on renewable energy expansion. The company’s cumulative RE generation capacity now stands at 19.2 GW, supported by significant new PPA signings for RE projects totaling 3.8 GW in Q2 FY25. Key projects include the nearly commissioned 454 MW SECI X Wind Project and new infrastructure projects in green hydrogen and battery energy storage. By March 2025, a 3,800 TPA hydrogen plant is anticipated to be operational, supplementing JSW’s green hydrogen agreements with JSW Steel, while a 1.0 GWh BESS project is slated for completion by June 2025.
JSW Energy’s Q2 FY25 results present a complex yet promising outlook. Amid immediate financial challenges, the company’s strategic alignment with India’s renewable energy goals and commitment to ESG underscore a forward-thinking approach. With substantial growth in renewable capacity and promising new ventures, JSW Energy is positioning itself not only as a leader in India’s energy transition but as a globally responsible energy player.
