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JSW Energy Limited Q3 FY26 earnings call summary

NSE: JSWENERGY · BSE: 533148

Earnings call of 23 Jan 2026, summarised by AI from the filing.

Grid connectivity constraints could delay renewable additions from FY27.

Key takeaways

  1. Risk Grid connectivity constraints could delay renewable additions from FY27.

Original filing on BSE

JSW Energy Limited Q1 FY27 results

As filed: Revenue ₹5,207 cr (+1% year on year), EBITDA ₹2,873 cr (+3% year on year), PAT ₹533 cr (−36% year on year), EBITDA margin 55.2% (+95 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹4,499 cr (+41% year on year), EBITDA ₹2,250 cr (+87% year on year), PAT ₹574 cr (+38% year on year), EBITDA margin 50.0% (+1,000 bps). Score 69 of 100, Above trend. Revenue and EBITDA growth were above the company's own trend; profit growth was in line with it. EBITDA margin rose 1000 bps year on year. Other income 191% of PBT. Tax rate -209%. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue rose ₹1,310 cr on a year ago, more than the ₹433 cr it added the year before. Share price after the results: +0.7% in 30 days (Nifty 500: −2.5%).
  • Q3 FY26: Revenue ₹4,082 cr (+67% year on year), EBITDA ₹2,030 cr (+122% year on year), PAT ₹529 cr (−177% year on year), EBITDA margin 49.7% (+1,000 bps). Score 20 of 100, Below trend. Revenue and EBITDA growth were well above the company's own trend; profit before exceptional items growth was well below it. EBITDA margin rose 1000 bps year on year. Consolidated profit +237% but standalone -70%. Revenue fell 21% from last quarter. Share price after the results: +7.9% in 28 days (Nifty 500: +3.0%).
  • Q2 FY26: Revenue ₹5,177 cr (+60% year on year), EBITDA ₹2,997 cr (+78% year on year), PAT ₹824 cr (−6% year on year), EBITDA margin 57.9% (+585 bps). Score 60 of 100, In line with trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was below it. EBITDA margin rose 585 bps year on year. Tax rate 14%. Share price after the results: −2.2% in 28 days (Nifty 500: +1.0%).
  • Q1 FY26: Revenue ₹5,143 cr (+79% year on year), EBITDA ₹2,789 cr (+97% year on year), PAT ₹836 cr (+57% year on year), EBITDA margin 54.2% (+501 bps). Score 81 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was above it. EBITDA margin rose 501 bps year on year. Other income 26% of PBT. Consolidated profit +57% but standalone -36%. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −5.2% in 29 days (Nifty 500: −2.0%).
  • Q4 FY25: Revenue ₹3,189 cr (+16% year on year), EBITDA ₹1,204 cr (+3% year on year), PAT ₹415 cr (+20% year on year), EBITDA margin 37.8% (−466 bps). Score 55 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 466 bps year on year. Other income 87% of PBT. Tax rate -15%. Revenue grew on the previous quarter, against its usual seasonal pattern. Profit rose ₹70.0 cr on a year ago, more than the ₹63.0 cr it added the year before. Share price after the results: +4.0% in 29 days (Nifty 500: +0.5%).
  • Q3 FY25: Revenue ₹2,439 cr (−4% year on year), EBITDA ₹915 cr (−18% year on year), PAT ₹157 cr (−32% year on year), EBITDA margin 37.5% (−617 bps). Score 8 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 617 bps year on year. Other income 139% of PBT. Tax rate -5%. Revenue fell 25% from last quarter.
  • Q2 FY25: Revenue ₹3,238 cr (−1% year on year), EBITDA ₹1,685 cr (−10% year on year), PAT ₹877 cr (+2% year on year), EBITDA margin 52.0% (−568 bps). Score 19 of 100, Below trend. EBITDA margin fell 568 bps year on year. Tax rate 13%. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

JSW Energy Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.