JSW Energy Ltd (JSWENERGY)
₹317.64
Key Stats
₹311
Day's Price Range
₹323.35
₹182.05
52-Week Price Range
₹408
| Returns | |
| 1 Month Return | 37.94 % |
| 3 Month Return | 27.58 % |
| 1 Year Return | 36.76 % |
Company Financials
Value in ₹ crore
Peer Comparsion
PE
Rank 5
29.7
EPS
Rank 5
₹10.49
BVPS
Rank 3
₹106.11
Dividend Yield
Rank 4
2.27%
ROE
Rank 8
1.77%
Price To Book Ratio
Rank 5
2.93
Debt To Asset
Rank 7
0.46
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Company Information
JSW Energy Ltd belonging to the JSW Group is one of the leading power generation companies in India. JSW Energy operates 4531 MW of power generation capacity. Of the 4531 MW power generation capacity JSW Energy operates thermal power accounts for 3140 MW and hydel 1391 MW. Besides power generation JSW Energy is also engaged in power trading since June 2006. The company also has two 400 KV operational transmission lines in joint venture with Maharashtra State Electricity Transmission Company Limited a wholly owned corporate entity under the Maharashtra Government.JSW Energy also has lignite mines in two contiguous blocks Kapurdi and Jalipa in the district of Barmer Rajasthan with combined capacity of 9 MTPA. The company also has stake in a coal mining company in South Africa. JSW Energy also has a joint venture with Toshiba Corp for manufacturing of supercritical steam turbine generators.JSW Energy Ltd was incorporated on March 10 1994 as a joint venture between JSW Steel Ltd and Tractebel S.A. Belgium with the name Jindal Tractebel Power Company Ltd. In January 18 2000 the company started commercial operations of UnitII of 2x130 MW Power Plant at Toranagullu and in August 5 2000 they started commercial operation of UnitI of 2x130 MW Power Plant at Toranagullu.In December 2001 Tractebel S A Belgium sold their share holdings in the company to ICICI IDBI and Jindal group companies. Consequent to this the name of the company was changed from Jindal Tractebel Power Company Ltd to Jindal Thermal Power Company Ltd on January 17 2002. In order to have the group identity the company further changed their name to JSW Energy Ltd on December 7 2005.In February 10 2006 the company acquired Raj WestPower Ltd under the share purchase agreement and thus Raj WestPower Ltd became a subsidiary company. In May 5 2006 they incorporated JSW Energy Vijayanagar Ltd as a subsidiary company. In June 13 2006 the company incorporated JSW Energy Ratnagiri Ltd for setting up a 1200 MW power plant at Jaigad in Maharashtra based on imported coal. In July 8 2006 they incorporated JSW Power Trading Company Ltd to carry on the business of power trading.In January 19 2007 Raj WestPower Ltd and Rajasthan State Mines and Minerals Ltd formed a joint venture company namely Barmer Lignite Mining Company Ltd for engaging in mining activities in the Kapurdi and Jalipa lignite mining blocks in Barmer District Rajasthan. In March 28 2007 they acquired PT Param Utama Jaya in Indonesia thereby making it a wholly owned subsidiary company. In July 28 2007 the company was awarded 260 MW Kuther Hydro Electric Project. In November 1 2007 the company demerged their investment division and transferred it to JSW Energy Investments Pvt Ltd. In November 11 2007 the company signed a joint venture agreement with Mahanadi Coalfields Ltd JSW Steel Ltd Jindal Stainless Ltd and Shams DRI Power Ltd for mining of coal from Utkal a coal block in Orissa.In April 23 2008 the company incorporated Jaigad PowerTransco Ltd as wholly owned subsidiary company. In May 7 2008 the company made a joint venture agreement with Toshiba Corporation Japan for setting up of Turbine Generator manufacturing facility in India.In August 5 2008 the company made a joint venture agreement with Maharashtra State Electricity Transmission Company Ltd for setting up of Transmission Lines in the State of Maharashtra. In October 10 2008 JSW PowerTransco Ltd and JSW Energy Vijayanagar Ltd were amalgamated with the company with effect from April 1 2008.In April 10 2009 the company commissioned Unit I of 2X300MW Power Plant at Toranagullu. In August 31 2009 they incorporated JSW Energy Raigarh Ltd for setting up a 1320 MW power plant at Raigarh in Chhattisgarh based on domestic coal. In September 1 2009 they commenced commercial operations of Unit II of 2X300MW Power Plant at Toranagullu.The Board of Directors of JSW Energy at its meeting held on 21 January 2010 accorded their consent for formation of Special Purpose Vehicle SPV between the company and JSW Bengal Steel Ltd. to set up a 1600 MW 2 X 800 MW power plant at lchhapur West Bengal utilizing the thermal coal from lchhapur coal mines subject to necessary approvals. JSW Energy will have 74 shareholding in the SPV while JSW Bengal Steel Ltd JSWBSL will hold the balance 26. Additionally JSWBSL will be entitled to procure 51 power generated by the SPV being a captive power consumer in accordance with the regulations of the Electricity Act 2003. The balance power will be available with the SPV for sale. The entire project is scheduled to be completed by March 2015. The Board of Directors of JSW Energy also accorded their consent for formation of a wholly owned overseas subsidiary aimed at acquiring coal mines to secure its fuel requirements. The company proposes to make equity investments or provide loans funds and for provide corporate guarantee for loan by the wholly owned overseas subsidiary for an aggregate amount not exceeding US 1 billion subject to necessary approvals.On 15 April 2010 JSW Energy announced the acquisition of majority shareholding in South African Coal Mining Holding Limited SACMH which has certain coal concessions.On 10 June 2010 JSW Energy announced that it has entered into a Memorandum of Understanding MOU with Osho Venture FZCO Dubai Osho and Indian Ocean Mining Pty Limited South Africa IOM with an intention to acquire 70 equity interest in IOM from Osho. IOM has certain Coal prospecting rights in North West region of South Africa. The aforesaid MOU is part of the strategy to enhance fuel security for which the company is continuously evaluating various strategies and proposals to secure long term imported coat linkages. The MOU is subject to company carrying out due diligence execution of definitive agreements and compliance with regulatory requirements.The Board of Directors of JSW Energy at its meeting held on 23 July 2010 considered and approved a Scheme of Amalgamation of JSW Energy Ratnagiri Ltd JSWERL with JSW Energy Ltd and their respective shareholders and creditors. The scheme does not envisage any issue of shares since JSWERL is a wholly owned subsidiary of JSW Energy.On 1 June 2011 JSW Energy announced that the agreements entered into with respect to acquisition CIC Energy Corp CIC by the company stand terminated as the conditions precedent for merger could not be fulfilled by 31 May 2011 which was the last date for fulfilling the conditions by CIC. Earlier on 23 November 2010 JSW Energy announced that it has entered into a binding agreement with CIC Energy Corp. CIC a company incorporated in the British Virgin islands and listed on the Toronto and Botswana stock exchanges to acquire all of the shares of CIC Energy at a price of GAD 7.42 per share amounting to a total consideration of approximately CAD 422 million. CIC is developing the Mmamabula Energy Complex at its Mmamabula Coal Field in southeastern Botswana Africa. The Mmamabuia Energy Complex is planned to develop coal mines for export setting up power plants and conversion of Coal to Hydrocarbon.On 17 October 2011 JSW Energy announced that it has started commercial operations of the 4th Unit of 300 MW at its power plant at Ratnagiri Maharashtra from 16 October 2011. As a result the entire 1200 MW power plant is now fully operational and is supplying uninterrupted power to the state grid. This is the first power project of over 1000 MW to be set up in the state of Maharashtra by private sector post the Electricity Act 2003. JSW Energy has also resumed operations of 2 X 135 MW Barmer power project on 12 October 2011 pursuant to the grant of adhoc interim tariff by Rajasthan Electricity Regulatory Commission RERC using lignite from the Kapurdi reserves. The lignite mining by Barmer Lignite Mining Co. Ltd. BLMCL has commenced operation upon the transfer of mining licence for Kapurdi reserves in favour of BLMCL. BLMCL is a joint venture between Rajasthan State Mines Minerals Ltd. RSMML a Government of Rajasthan enterprise Raj WestPower Ltd. RWPL a wholly owned subsidiary of JSW Energy Limited with equity participation of 51 and 49 respectively to develop lignite mines in two contiguous blocks of Kapurdi and Jalipa in the district of Barmer. The commissioning of Unit 3 Unit 4 is also expected shortly upon receipt of the tariff order from RERC.On 7 December 2011 Jaigad PowerTransco Limited 3PTL a joint venture between JSW Energy and MahaTransco announced commissioning of its 400 kV IntraState Power Transmission project in Maharashtra. This Transmission System consisting of 400kV Double Circuit Jaigad New Koyna and Jaigad Karad Transmission Lines will facilitate evacuation of power from 1200 MW Jaigad Power Project as well as other power generation projects planned in the region and also transfer power from predominantly generation node at New Koyna to load centre at Karad. The Transmission system has power evacuation capacity of about 2500 MW to 3000 MW. This Joint Venture for development of Transmission Lines in Maharashtra is a unique example of Public Private Partnership in Transmission Business where JSW Energy holds 74 and MahaTransco holds 26 equity and it is a pioneering effort by JSW Energy and MahaTransco to facilitate power evacuation from the upcoming power projects in Maharashtra. MahaTransco becomes the first State Transmission Utility STU in India to promote this participative approach for development of power transmission system.On 4 March 2013 JSW Energy announced that Unit VI of 135 MW of the 8 X 135 MW Power Project at Barmer Rajasthan has been successfully commissioned and has achieved Commercial Operation Date COD from 3 March 2013. With the above COD seven units of 135 MW of the 8X 135MW Power Project at Barmer Rajasthan have achieved COD.On 16 March 2013 JSW Energy announced that Unit VII of 135 MW of the 8 X 135 MW power project at Barmer Rajasthan has been successfully commissioned and has achieved Commercial Operation Date COD from 16 March 2013. With the above COD the entire power project at Barmer Rajasthan of 1080 MW is fully completed. On 23 September 2014 JSW Energy informed the stock exchanges that Barmer Lignite Mining Company Limited BLMCL a Joint Venture between Raj WestPower Limited RWPL a wholly owned subsidiary of the company and Rajasthan State Mines and Minerals Limited RSMML has received Environmental Clearance from Ministry of Environment Forests Climate Change MoEFCC to increase the mining capacity of its Kapurdi Lignite Mines from 3.75 MTPA to 7 MTPA for 4 years.On 25 September 2014 JSW Energy and Jaiprakash Power Ventures Limited JPVL announced the signing of binding Memorandum of Understanding for the 100 acquisition by JSW Energy of three operations plants of JVPL namely 300 MW BaspaII Hydro Electric Plant 1091 MW Karcham Wangtoo Hydro Electric Plant and 500 MW Bina Thermal Power Plant.On 17 November 2014 JSW Energy Ltd announced that it has agreed to acquire from Jaiprakash Power Ventures Limited and other shareholders 100 stake in Himachal Baspa Power Company Limited for a base Enterprise Value of approximately Rs 9700 crore subject to mutually agreed adjustments. The Board of Directors of Jaiprakash Power Ventures Limited JPVL has approved the transfer of the 300 MW Baspa II hydro electric project located at Himachal Pradesh and the 1091 MW Karcham Wangtoo hydro electric project located at Himachal Pradesh into a separate company i.e. the Himachal Baspa Power Company Limited Target as a going concern through a scheme of arrangement under Sections 391 394 of the Companies Act 1956. Subsequent to the scheme of arrangement being made effective and subject to other terms and conditions agreed between JSW Energy and JPVL JSW Energy proposes to acquire 100 one hundred percent of the securities of the Target held by JPVL.The Board of Directors of JSW Energy at its meeting held on 2 February 2015 approved a Scheme of Arrangement which envisages demerger of the power trading business from JSW Power Trading Company Limited JSWPTC into JSW Green Energy a wholly owned subsidiary of JSW Energy and merger of residual JSWPTC into JSW Energy. The restructuring of the business is being undertaken with the objective of creating a focused power trading business and consolidating all the investments in the company. On 9 July 2015 JSW Energy informed the stock exchanges that the company has signed a Nonbinding Memorandum of Understanding MOU with Monnet Ispat and Energy Limited MIEL and Monnet Power Company Limited MPCL for initiating a due diligence process for the possible acquisition of a majority stake in MPCL which is setting up a 1050 MW 2x525 MW coal fired thermal power plant located at Malibrahmani Angul Odisha.On 29 July 2015 JSW Energy announced that JSW Energy Natural Resources South Africa PTY Limited a step down subsidiary of the company in South Africa has disposed off 26 stake in its subsidiary South African Coal Mining Holdings Limited SACMH. The disposal is to comply with the black economic empowerment requirements mandated by the Department of Mineral Resources DMR requiring the issued shares in the company to be owned by historically disadvantaged South Africans HDSAs. SACMH is a listed entity on the Johannesburg Stock Exchange JSE. The company through its step down subsidiary had an effective shareholding in SACMH of 93.27. Post completion of the transaction the companys effective shareholding in SACMH stands reduced to about 67.25.On 8 September 2015 JSW Energy announced that it has concluded the acquisition of 100 of the securities of Himachal Baspa Power Company Ltd. HBPCL which has two operating Hydro Power assets viz. 300 MW Baspa II HEP and 1091 MW Karcham Wangtoo HEP. The company has also entered into a binding Memorandum of Understanding MoU with Jaiprakash Power Ventures Limited to acquire 100 stake in the 500 MW Bina Thermal Power Plant located in the Sagar district of Madhya Pradesh.On 26 October 2015 JSW Energy informed the stock exchanges that JSW Energy Natural Resources South Africa Proprietary Limited a step down subsidiary of the company in South Africa which holds 67.27 in its subsidiary South African Coal Mining Holdings Limited SACMH has intimated its firm intention in terms of Regulation 101 of the Companies Regulations 2011 of the Companies Act 2008 to the proposed delisting of SACMH on the Johannesburg Stock Exchange JSE and an offer to all remaining shareholders. SACMH is a listed entity on the JSE.On 1 March 2016 JSW Energy informed the stock exchanges that Rajasthan Electricity Regulatory Commission RERC has vide its order dated 24 February 2016 determined the final tariff for FY 200910 to FY 201314 along with Annual Performance Review and trueup for FY 200910 and FY 201011 for the 1080 MW Lignite Power Plant at Banner Rajasthan of Raj WestPower Limited RWPL a wholly owned subsidiary of the company. RWPL will recognise the revenues in its books based on the aforesaid order for the period FY 200910 to FY 201314 and based on approved provisional tariff for the subsequent periods FY 201415 and FY 201516 till their respective final determination of tariff. RWPL meanwhile intends to seek clarifications and/or appeal the said order as per the provisions of law after thorough review.On 4 May 2016 JSW Energy announced that it has agreed to acquire the 1000 MW 4X250 MW thermal power plant located at Village Tamnar District Raigarh in the State of Chhattisgarh from Jindal Steel Power Limited JSPL subject to receipt of necessary statutory and shareholder consents. The cost of acquisition is linked to an enterprise value of Rs 4000 crore plus net current assets and which will be increased to Rs 6500 crore plus net current assets if certain preagreed conditions regarding fuel security and power offtake are satisfied. An interest bearing advance of Rs 500 crore is to be paid pursuant to approval of shareholders of JSW Energy and JSPL and Competition Commission of India.On 24 October 2016 JSW Energy announced that it has signed a binding Memorandum of Understanding MoU with the Swaziland Electricity Company SEC and the Government of Swaziland to set up a thermal power plant in the Kingdom of Swaziland in order to facilitate energy security and make Swaziland selfreliant in power by exploiting the natural resources available within the country. The MoU provides for setting up a thermal power plant and undertaking activities pursuant to execution of definitive agreements a long term power purchase agreement to be guaranteed by the Kingdom of Swaziland and fuel supply agreement from captive coal sources and facilitation of other consents and approvals including associated infrastructure facilities to support coal mining power generation evacuation and allied activities. In addition to meeting the total power demand of the Kingdom of Swaziland which currently stands at around 300 MW JSW Energy and SEC shall also explore the possibility of exporting power to the neighboring countries that are connected through a common transmission network. On 6 January 2017 JSW Energy announced that it has successfully secured an order from Power Company of Karnataka Ltd. PCKL for supply of 650 MW upto 31 May 2017 for short term sale of power.The Board of Directors of JSW Energy at its meeting held on 11 August 2017 approved entering into Electric Vehicles Energy Storage Systems and associated business directly or through one or more subsidiaries. The expected capital expenditure to be incurred over the next three years would be in the range of Rs 3500 to Rs 4000 crore. On 26 September 2017 JSW Energy entered into a Memorandum of Understanding MoU with the Government of Gujarat to set up a facility in the state for the manufacturing of Electric Vehicles Electrical Battery/Energy Storage Solutions ESS and charging infrastructure.On 7 November 2017 JSW Energy announced that it has successfully secured an order from Power Company of Karnataka Ltd PCKL for supply of 200 MW power on short term basis for the period from 8 November 2017 to 31 May 2018.On 2 December 2017 JSW Energy announced that it has successfully secured PPAs aggregating to 208 MW. This consists of 176 MW PPA with Haryana Power Purchase Centre to be supplied from the Karcham Wangtoo Hydro Electric Project of Himachal Baspa Power Company Ltd. a 100 subsidiary of the company and 32 MW under Group Captive scheme to be supplied from the Ratnagiri plant of the Company. On 1 January 2018 JSW Energy announced that it has cancelled the proposed acquisition of the 500MW 2x250 MW thermal power plant located at Bina District Sagar in the state of Madhya Pradesh Bina project from Jaiprakash Power Ventures Limited. The transaction was cancelled due to the elapsing of the Long Stop Date i.e. the indicative time period for completion of the acquisition. The consummation of this transaction was subject to fulfilment of certain conditions precedent. Earlier the Long Stop Date was extended from 31 May 2017 to 31 December 2017.On 4 January 2018 JSW Energy announced that it has on 1st January 2018 incorporated a wholly owned subsidiary JSW Solar Limited to inter alia pursue business opportunities in the renewable energy space energy storage systems micro grids etc.On 19 February 2018 JSW Energy announced that it has entered into MoU with the Government of Maharashtra for setting up facilities for the manufacturing of EV and Energy Storage Systems in the state of Maharashtra subject to receipt of internal corporate approvals.On 5 March 2018 JSW Energy announced that it has acquired JSW Electric Vehicles Private Limited for a consideration of Rs 1 lakh. Consequent to this acquisition JSW Electric Vehicles Private Limited is now a wholly owned subsidiary of JSW Energy. JSW Electric Vehicles has been set up to inter alia manufacture electric motor vehicles all types of parts spare parts engines appliances and apparatus equipment etc. JSW Electric Vehicles is yet to commence business.On 22 March 2018 JSW Energy Limited announced that it has secured a Power Purchase Agreement PPA of 200 MW with Punjab State Power Corporation Limited to be supplied from the Karcham Wangtoo Hydro Electric Project of Himachal Baspa Power Company Ltd. a 100 subsidiary of the company. With this the long term PPA proportion of the company on a consolidated basis has increased from 69.3 at end of Q3 FY 2018 to 73.8 currently.
| Organisation | JSW Energy Ltd |
| Headquarters | Mumbai |
| Industry | Power Generation & Distribution |