Large-cap Energy Company Receives LOA for the Supply of 230 MW renewable energy; FIIs Increased 7 per cent Stake
The company has given multibagger returns of 141.71 per cent and whooping 907.89 per cent returns in 5 years.
JSW Energy Ltd's stock price jumped nearly 2 per cent on Thursday following the development.
JSW Neo Energy Ltd a wholly owned subsidiary of JSW Energy Ltd has received Letter of Award from Solar Energy Corporation of India, for supply of 230 MW ISTS connected firm and dispatchable renewable energy. The capacity is awarded against the tariff-based competitive bid invited for the supply of 630 MW firm and dispatchable power from ISTS-connected renewable energy projects.
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Following this capacity award, the Company’s total locked-in generation capacity has risen to 16.4 GW, which includes a total locked-in Hybrid capacity of 2.3 GW. The Company expects to have an installed generation capacity of 10 GW by FY25, up from 7.5 GW currently. This project enhances the company’s energy solution offerings and supports its transition towards becoming an energy products and services company.
JSW Energy has total locked-in generation capacity of 16.4 GW comprising of 7.5 GW operational, 2.3 GW under-construction across wind, thermal and hydro and RE pipeline of 6.6 GW (PPAs signed for 2.0 GW). The company also has 4.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
JSW Energy Ltd and its subsidiaries are primarily engaged in the business of generation of power from its power assets located at Karnataka, Maharashtra, Nandyal and Salboni. It is the holding company for the JSW group's power business. The company also has a JV company engaged in mining activities and an associate engaged in manufacturing of turbines.
JSW Energy Ltd has a market capitalisation of Rs 1,22,956 crore and is currently trading at Rs 704. The stock has reached a 52-week high of Rs 752 and a low of Rs 314 over the past year. The one-year return is 141.71 per cent turning to be a multibagger stock, and whooping 907.89 per cent returns in 5 years. The company has been maintaining a healthy dividend payout of 20.1 per cent.
As per the Quarterly Results, in Q1 FY25, the company reported a revenue was Rs 2,879 crore, showing a decline of 1.67 per cent year-over-year (YoY) but an increase of 4.46 per cent quarter-over-quarter (QoQ). Net profit for the same period was Rs 534 crore, up significantly by 1,741.38 per cent YoY and 54.78 per cent QoQ. For the fiscal year 2024, revenue reached Rs 11,486 crore, up by 11.17 per cent compared to FY23. Net profit for FY24 was Rs 1,725 crore, marking a growth of 16.55 per cent from the previous fiscal year.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.