Green Energy Stock in Focus: JSW Energy

A notable player in the sector is JSW Energy, an India-based renewable energy and power company, headed by Sajjan Jindal.

June 07, 2024. By Abha Rustagi

In the dynamic world of finance, the conversation has increasingly shifted towards sustainable development, with green energy stocks capturing considerable investor interest.

As the global economy prioritizes climate change and carbon reduction, the renewable energy sector is emerging as a key driver of sustainable growth. A notable player in the sector is JSW Energy, an India-based renewable energy and power company, headed by Sajjan Jindal.

JSW Energy recently announced its annual results for FY2023-24 (FY24) and the fourth quarter (Q4 FY24). The company reported a consolidated net profit of INR 345.27 crore for the March quarter, up 22.4 percent year-on-year.

The company also saw an increase in its operating income, which rose to INR 2,755.87 crore in the fourth month of the financial year from INR 2,669.97 crore in the corresponding period last year. JSW Energy's shares are currently trading between INR 614.35 and INR 628.45.

In the fourth quarter of the fiscal year, the company’s generation under long-term power purchase agreements (PPAs) rose 21 percent year-on-year. This growth is due to increased generation at its Ratnagiri plant and recent additions to renewable energy capacity. The company also saw short-term sales growth in the quarter, helped by an underlying growth in electricity demand across India.

For the fourth quarter, JSW Energy's earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 47 percent, reaching INR 1,292 crore. The company board has also recommended a dividend of INR 2.0 per share, subject to shareholder approval.

With a market cap of INR 1,06,273 crore and a 52-week high of INR 663.80 and a low of INR 251.55, JSW Energy's future looks promising, supported by strategic initiatives and operational growth.

For investors eyeing the green energy sector, JSW Energy is certainly worth keeping an eye on. Stay tuned to Energetica India for more updates on JSW Energy and other green energy stocks shaping the future of sustainable investing.

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JSW Energy

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Green Energy Stock in Focus