Multibagger Power Company Bags Order from Gujarat Urja Vikas Nigam for setting up 192 MW Grid connected Hybrid Power Project, FIIs Increased Stake in Q1 FY25
The company’s shares have delivered an impressive return of over 135 per cent in just 1 year.
JSW Energy Ltd, the holding company for the JSW group's power business, operates power generation assets across Karnataka, Maharashtra, Nandyal, and Salboni. It also manages a joint venture in mining and an associate in turbine manufacturing.
JSW Neo Energy Limited, a wholly owned subsidiary, has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) to establish a 192 MW grid-connected hybrid power project, with an additional 96 MW under the green shoe option. This capacity was awarded through a tariff-based competitive bid for setting up 500 MW of hybrid power projects (Phase II), with a green shoe option for an extra 500 MW.
Following this award, JSW Energy’s total locked-in generation capacity rises to 16.2 GW, which includes 2.1 GW in hybrid power. The company anticipates its installed generation capacity will reach 10 GW by FY25, up from the current 7.5 GW. The company’s total capacity includes 7.5 GW operational, 2.3 GW under construction, and a renewable energy pipeline of 6.3 GW, with PPAs signed for 2.0 GW. Additionally, JSW Energy has 4.2 GWh of energy storage capacity through battery systems and hydro-pumped storage. JSW Energy aims to achieve 20 GW of generation capacity and 40 GWh of energy storage by 2030 and has set a target for carbon neutrality by 2050.
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JSW Energy Ltd shares closed the day at around Rs 691.95 per share. The company’s current market capitalization stands at Rs 120936.84. The stock has delivered a multibagger return of over 135 per cent in the 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 a 15.37 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.