LIC-Backed Power Company Bags Order for 600 MW Wind-Solar Hybrid Power Project: FIIs Nearly Double Stake in Q1 FY25!
The company’s shares have delivered an impressive return of over 95 per cent in just 1 year.
JSW Neo Energy Ltd, a subsidiary of JSW Energy Ltd, has received a Letter of Award from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for a 600 MW Wind-Solar Hybrid Power Project, which includes 400 MW under the green shoe option as part of MSEDCL’s Phase IV.
This new capacity brings JSW Energy's total locked-in generation capacity to 18.2 GW, including 3.8 GW of hybrid projects. The company aims to reach 10 GW of installed generation capacity by FY25, up from its current 7.5 GW, as part of its transition to becoming an energy products and services company.
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JSW Energy's portfolio includes 7.5 GW of operational capacity, 2.3 GW under construction (across wind, thermal, and hydro), and a renewable energy pipeline of 8.3 GW (with PPAs signed for 2.3 GW). The company has also secured 4.2 GWh of energy storage capacity through battery energy storage systems and hydro-pumped storage projects. Looking ahead, JSW Energy targets 20 GW of generation capacity and 40 GWh of energy storage by 2030, with a long-term goal of achieving carbon neutrality by 2050.
On Tuesday the shares of JSW Energy Ltd closed the day at around Rs 744.45 per share. The company’s current market capitalization stands at Rs 1,30,112.62. The stock has delivered a return of over 85 per cent in just 1 year.
As per the Quarterly Results, in the first quarter of FY25, JSW Energy Ltd recorded a revenue of Rs 2879 crore. The operating profit for Q1 FY25 stood at Rs 1418 crore. The net profit for Q1 FY25 was Rs 534 crore. Looking at the annual performance, the company generated a revenue of Rs 11486 crore in FY24, compared to Rs 10332 crore in FY23. The operating profit for FY24 was Rs 5382 crore with a net profit of Rs 1725 crore.
According to the shareholding pattern, promoters own 69.32 per cent, while 5.90 per cent is owned by public investors. FIIs and DIIs own 15.37 per cent which was earlier 8.37 per cent and 9.21 per cent stake in the company.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.