JSW Energy logo

JSW Energy share price

NSE: JSWENERGYBSE: 533148PowerMid Cap

JSW Energy Limited · Face value ₹10 · Listed Jan 2010
Last close ₹483.00up ₹13.35 (2.84%)BSE ₹482.50

Share price at the NSE close on 28 Oct 2026. Previous close ₹469.65.

28 Oct: open ₹467.10, high ₹483.00, low ₹462.40

52-week range of traded prices to 28 Oct 2026
₹427.75Low, 27 Jan 2026₹617.35High, 29 May 2026
Market cap
₹88,557 Cr121st largest listed
P/E
38.19
P/B
2.41
Dividend yield
0.41%
ROE
7.0%
ROCE
6.0%
Debt to equity
2.04
Volume, NSE
14,32,56344.8% delivered

JSW Energy share price chart

Daily closes since Jan 2010, adjusted for splits and bonuses

−9.9%over a year · Nifty 500 −8.8%

Results20-session average 21,38,891 shares a day, 52.0% delivered

About JSW Energy

JSW Energy Limited is an Indian independent power producer that generates electricity from thermal, hydro, wind and solar plants, and also transmits and trades power.1 It sells power to state distribution companies, central agencies, industrial customers, group captive users (industrial buyers who own a stake in the plant supplying them) and the open market.2 It is also building energy storage and has moved into green hydrogen and power equipment.1

It owns and operates power plants in 14 Indian states.3 Jaigad Power Transco, its 74:26 joint venture with Maharashtra's state transmission company, owns 2 transmission lines of 400 kV in Maharashtra, and the company trades electricity through JSW Power Trading Company.4

It was incorporated in 1994 and began commercial operations in 2000 with its first thermal units at Vijayanagar, Karnataka.56 Its acquisitions include Mytrah, JSW Utkal, JSW Mahanadi and O2 Power, whose acquisition was completed in April 2025.78

It is part of the O. P. Jindal Group and is the energy arm of the JSW Group, whose other interests include steel, infrastructure, cement and paints; Sajjan Jindal is its Chairman and Managing Director.5910

JSW Energy key points

Results

  • In the quarter to Jun 2026, consolidated total revenue was flat at ₹5,437 crore, EBITDA (earnings before interest, tax, depreciation and amortisation) rose 2% to ₹3,103 crore, and reported profit after tax fell to ₹533 crore from ₹836 crore.11
  • In the year to Mar 2026, consolidated revenue from operations rose 61% to ₹18,901.13 crore and EBITDA rose 81% to a record ₹11,041 crore.1213
  • Consolidated profit after tax was a record ₹2,762 crore in the year to Mar 2026, of which ₹2,239.31 crore was attributable to shareholders (₹1,950.89 crore a year earlier); the board recommended a dividend of ₹2 per share.141516
  • JSW Energy's net debt (borrowings less cash) was ₹61,322 crore at the end of June 2026, 1.70 times equity, with cash of ₹12,881 crore.1718

Business segments

  • Thermal. In the quarter to Jun 2026, operating revenue fell 5% to ₹3,453 crore and EBITDA excluding other income fell 11% to ₹1,392 crore.19
  • Renewables. In the quarter to Jun 2026, operating revenue rose 17% to ₹1,740 crore and operating EBITDA rose 23% to ₹1,485 crore, from new capacity and the O2 Power portfolio.20
  • Hydro (part of Renewables). At JSW Hydro Energy's Karcham Wangtoo and Baspa plants, output fell 45% to 1,059 million units in the quarter on weak water flows; at 100% availability they kept earning capacity charges (fixed payments for availability).2122

Plants and capacity

  • Installed capacity by source on 5 Oct 2026 (MW)23
    ItemOct 2026
    Thermal5,958
    Wind3,125
    Solar2,426
    Hybrid (wind and solar at one site)1,857
    Hydro1,781
    Total installed capacity was 15,147 MW, of which renewables made up 9,189 MW, about 61%.
  • JSW Energy had 14.5 GW under construction and 2.8 GW in the pipeline (awarded, sale agreement not yet signed), for locked-in capacity of 32.4 GW.24
  • JSW Energy's locked-in energy storage was 29.6 GWh: 26.4 GWh of pumped hydro storage (water pumped uphill and released through turbines when needed) and 3.2 GWh of batteries.24

Customers and partners

  • About 96% of installed capacity was under long-term power purchase agreements (multi-year sale contracts at agreed tariffs) on 1 Apr 2026.25
  • JSW Steel buys green hydrogen from the company under a 7-year agreement; the 2 companies have memoranda of understanding for 6.2 GW of renewables with 2.7 GWh of storage and 85,000 to 90,000 tonnes a year of green hydrogen.2627

Expansion and capital spending

  • It is building the 3,200 MW Salboni thermal plant in West Bengal, its power contracted to the state distribution company, and by 25 Sep 2026 had ordered turbine generators for all 4 units of 800 MW from associate Toshiba JSW.2829
  • In its presentation of 22 Jul 2026, the company said it targets commercial operation of 600 MW of its 1,800 MW Mahanadi expansion in the year to Mar 2028 and 1,200 MW in the year to Mar 2029.30
  • In its presentation of 22 Jul 2026, the company said its pumped storage projects of 12 GWh each, contracted with Maharashtra's and Uttar Pradesh's distributors, are scheduled for the years to Mar 2030 and Mar 2031.3132
  • Its 5 GWh battery container plant in Pune, commissioned in the quarter to Mar 2026, won its first large outside order, worth about ₹440 crore.3334

What the company expects

  • In its exchange filing of 5 Oct 2026, the company said it targets 30 GW of generation capacity and 40 GWh of energy storage by 2030, and carbon neutrality by 2050.24
  • On its earnings call of 22 Jul 2026, the company said it expects to add 3 GW of capacity and spend ₹20,000 crore on capital projects in the year to Mar 2027.35

Recent events

  • On 1 Oct 2026, the National Company Law Tribunal sanctioned the transfer of GE Power India's boiler manufacturing unit at Durgapur, West Bengal, to the company, from a date still to be announced.3637
  • On 13 Jun 2026, the company agreed to buy Maruti Clean Coal & Power's 300 MW thermal plant at an enterprise value (price including debt) of about ₹1,410 crore; by 5 Oct 2026 the plant was in its installed capacity.383940
  • On 12 Jun 2026, the 150 MW Tidong hydro plant in Himachal Pradesh, bought from Statkraft in January 2026, was commissioned, ahead of its October 2026 schedule.4142
  • On 25 May 2026, the company raised ₹4,000 crore by selling new shares to institutional investors; that month it sold 2.5 crore of its 7 crore JSW Steel shares for ₹3,150 crore.4344

Litigation and regulatory matters

  • On 18 Sep 2026, the Appellate Tribunal for Electricity overturned a March 2022 regulator's order and allowed subsidiary JSW Hydro Energy's claim for notional interest during construction on equity above 30%, sending the data back for a prudence check.45

Last updated

All 45 sources, each with its page
  1. 1. Annual report, 16 Jun 2026, page 115
  2. 2. Annual report, 16 Jun 2026, page 100
  3. 3. Annual report, 16 Jun 2026, page 9
  4. 4. Annual report, 16 Jun 2026, page 117
  5. 5. Annual report, 16 Jun 2026, page 115
  6. 6. Exchange filing, 5 Oct 2026, page 3
  7. 7. Annual report, 16 Jun 2026, page 14
  8. 8. Annual report, 16 Jun 2026, page 20
  9. 9. Annual report, 16 Jun 2026, page 1
  10. 10. Annual report, 16 Jun 2026, page 126
  11. 11. Investor presentation, 22 Jul 2026, page 12
  12. 12. Annual report, 16 Jun 2026, page 120
  13. 13. Annual report, 16 Jun 2026, page 14
  14. 14. Annual report, 16 Jun 2026, page 116
  15. 15. Annual report, 16 Jun 2026, page 126
  16. 16. Annual report, 16 Jun 2026, page 20
  17. 17. Investor presentation, 22 Jul 2026, page 15
  18. 18. Investor presentation, 22 Jul 2026, page 10
  19. 19. Investor presentation, 22 Jul 2026, page 42
  20. 20. Investor presentation, 22 Jul 2026, page 46
  21. 21. Investor presentation, 22 Jul 2026, page 48
  22. 22. Investor presentation, 22 Jul 2026, page 47
  23. 23. Exchange filing, 5 Oct 2026, page 2
  24. 24. Exchange filing, 5 Oct 2026, page 2
  25. 25. Annual report, 16 Jun 2026, page 99
  26. 26. Annual report, 16 Jun 2026, page 116
  27. 27. Annual report, 16 Jun 2026, page 115
  28. 28. Annual report, 16 Jun 2026, page 118
  29. 29. Exchange filing, 25 Sep 2026, page 1
  30. 30. Investor presentation, 22 Jul 2026, page 23
  31. 31. Annual report, 16 Jun 2026, page 95
  32. 32. Investor presentation, 22 Jul 2026, page 24
  33. 33. Earnings call, 22 Jul 2026, page 5
  34. 34. Investor presentation, 22 Jul 2026, page 36
  35. 35. Earnings call, 22 Jul 2026, page 3
  36. 36. Exchange filing, 1 Oct 2026, page 1
  37. 37. Annual report, 16 Jun 2026, page 117
  38. 38. Investor presentation, 22 Jul 2026, page 10
  39. 39. Investor presentation, 22 Jul 2026, page 41
  40. 40. Exchange filing, 5 Oct 2026, page 2
  41. 41. Investor presentation, 22 Jul 2026, page 34
  42. 42. Annual report, 16 Jun 2026, page 128
  43. 43. Investor presentation, 22 Jul 2026, page 10
  44. 44. Earnings call, 22 Jul 2026, page 3
  45. 45. Exchange filing, 19 Sep 2026, page 1

Results

Consolidated; ₹ crore.JSW Energy quarterly results

Revenue growth, 12 months
+26.4%
Net profit growth, 12 months
+14.6%

Quarter to Sep 2026, against the quarter before

Revenue
₹6,368 Crup 22.30%
Net profit
₹1,141 Crup 114.20%
Net margin
17.9%

Revenue by quarter

₹2,439 CrDec 24₹3,189 CrMar 25₹5,143 CrJun 25₹5,177 CrSep 25₹4,082 CrDec 25₹4,499 CrMar 26₹5,207 CrJun 26₹6,368 CrSep 26
Peak revenue ₹6,368 Cr, quarter to Sep 2026; lowest ₹2,439 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹157 CrDec 24₹415 CrMar 25₹836 CrJun 25₹824 CrSep 25₹529 CrDec 25₹574 CrMar 26₹533 CrJun 26₹1,141 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue2,4393,1895,1435,1774,0824,4995,2076,368
Net profit1574158368245295745331,141
Net margin6.5%13.0%16.3%15.9%13.0%12.7%10.2%17.9%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Thermal₹13,212 Crup 66.36%70.1%
  • Renewable₹5,626 Crup 57.19%29.9%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.JSW Energy PE ratio and valuation

Price to earnings

At or below today's level on 61% of 2,478 trading days over the last 10 years.

LowestHighest
Its median24.38Industry median19.17
Price to book

At or below today's level on 44% of 1,841 trading days since Nov 2018.

LowestHighest
Its median2.75Industry median1.47
Dividend yield

At or below today's level on 45% of 2,470 trading days over the last 10 years.

LowestHighest
Its median0.48%Industry median1.69%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−11.9%+14.6%−23.5%0.4%
3 years+25.5%+12.5%+11.2%0.4%
5 years+40.5%+21.5%+15.2%0.5%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.JSW Energy shareholding pattern

Shareholding by group

  • Promoters66.53%
  • Foreign institutions10.91%
  • Indian institutions16.71%
  • Individuals and others5.82%
  • Employee trusts0.03%
Holder
JSW INVESTMENTS PRIVATE LIMITEDPromoter16.99%
INDUSGLOBE MULTIVENTURES PRIVATE LIMITEDPromoter13.96%
SIDDESHWARI TRADEX PRIVATE LIMITEDPromoter12.60%
JSL LIMITEDPromoter7.93%
LICI ASM NON PARInsurance companies6.26%
VIRTUOUS TRADECORP PRIVATE LIMITEDPromoter4.67%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 14.48% of their shares. Since Jun 2026: promoters unchanged, foreign institutions −0.50 pts, Indian institutions +0.51 pts, mutual funds +0.13 pts.

The filing reports 95,23,809 of its 1,83,34,82,736 shares locked in.

Mutual fund holdings

202 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 96 of the 118 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 202 funds holding JSW Energy

Bought for the first time
6
Bought again
5
Added
75
Cut
43
Held unchanged
72
Sold out
6
Fund
SBI Mutual Fund logoSBI Aggressive Hybrid FundSBI Mutual Fund2,50,00,0001.44%₹1,236.8 Cr
SBI Mutual Fund logoSBI Contra FundSBI Mutual Fund75,23,8100.83%₹372.2 Cr
SBI Mutual Fund logoSBI Large & Midcap FundSBI Mutual Fund75,23,8100.92%₹372.2 Cr
Mirae Asset Mutual Fund logoMirae Asset Large Cap FundMirae Asset Mutual Fund66,35,9480.92%₹328.3 Cr
SBI Mutual Fund logoSBI Energy Opportunities FundSBI Mutual Fund60,76,4463.77%₹300.6 Cr
SBI Mutual Fund logoSBI Midcap FundSBI Mutual Fund47,40,5941.01%₹234.5 Cr
SBI Mutual Fund logoSBI ELSS Tax Saver FundSBI Mutual Fund44,76,1900.74%₹221.4 Cr
Kotak Mahindra Mutual Fund logoKotak Arbitrage FundKotak Mahindra Mutual Fund41,29,0750.27%₹204.3 Cr
Edelweiss Mutual Fund logoEdelweiss Mid Cap FundEdelweiss Mutual Fund39,00,6251.00%₹193.0 Cr
HSBC Mutual Fund logoHSBC Midcap FundHSBC Mutual Fund32,37,2830.95%₹160.1 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.JSW Energy insider trading

Bought on the market Sold on the market
  • Others0 purchases, 58 salesNo purchase₹12 Cr2 mores with no value filedNet−₹12 Crof the trades with a value1 pledge filing of unclear kind · 35 off-market moves
  • Promoters and promoter group: no market trade · 62 pledge filings of unclear kind · 3 off-market moves
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

JSW Energy competitors and peers

Power Generation, 36 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to JSW Energy in market cap.Power stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Adani Power logoAdani PowerADANIPOWER3,55,97619.544.64+17.2%+51.4%27.0%14.6%0.00%
NTPC logoNTPCNTPC2,94,53610.611.45+2.4%+15.9%14.3%8.1%2.96%
Adani Green Energy logoAdani Green EnergyADANIGREEN2,09,027111.549.68+20.9%−7.1%9.1%6.3%0.00%
NHPC logoNHPCNHPC74,77519.701.80+12.0%+24.1%9.4%3.6%2.16%
NTPC Green Energy logoNTPC Green EnergyNTPCGREEN70,124115.533.70––3.2%3.4%0.00%
NLC India logoNLC IndiaNLCINDIA31,608–1.47+16.8%––6.8%1.69%
Acme Solar Holdings logoAcme Solar HoldingsACMESOLAR29,06338.403.48+53.7%–11.5%5.3%0.05%
SJVN logoSJVNSJVN20,01831.321.41+60.5%−7.4%4.5%5.1%2.94%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.JSW Energy dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 17Mar 181Mar 191Mar 202Mar 212Mar 222Mar 232Mar 242Mar 252Mar 26
Highest ₹2.00 a share, in 6 years, the latest the year to Mar 2026.
Ex-dateTypePer share
5 Jun 2026Final₹2.00
6 Jun 2025Final₹2.00
31 May 2024Final₹2.00
2 Jun 2023Final₹2.00
30 May 2022Final₹2.00
27 Jul 2021Final₹2.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.JSW Energy announcements

JSW Energy share price by year

Each calendar year to 2025.JSW Energy share price history

YearClose at year endChangeHighest closeLowest close
2025482.45−24.9%644.30431.50
2024642.65+57.1%792.05408.95
2023409.05+42.2%458.30208.25
2022287.60−4.3%359.80195.50
2021300.50+343.2%398.8066.80
202067.80−2.2%71.2039.15
201969.35+1.0%78.8558.85
201868.65−25.7%95.6058.65
201792.40+51.8%92.4059.30
201660.85−28.5%86.6554.30
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 2026451.70471.35451.50469.65465.3130,40,94648.2%
26 Oct 2026443.75452.65438.40449.65446.8314,73,92749.4%
23 Oct 2026463.90464.95440.15448.55446.5623,19,05251.5%
22 Oct 2026469.65473.50462.75463.90467.509,13,31648.3%
21 Oct 2026482.20485.00468.30474.95473.478,91,41741.4%
19 Oct 2026481.00485.50478.75482.20481.6814,08,99758.9%
16 Oct 2026481.30488.65475.15482.60484.7511,96,21249.6%
15 Oct 2026490.00490.00476.20478.95481.8725,48,65158.5%
14 Oct 2026461.15490.50460.55490.30482.6580,47,02737.7%
Prices in ₹ per share as traded, not adjusted.

Company details

Chairperson and managing director
Sajjan Jindal
At the end of the quarter to Sep 2026
Chief executive
Sharad Mahendra
At the end of the quarter to Sep 2026
NSE symbol
JSWENERGY
BSE code
533148
ISIN
INE121E01018
Industry
Power
Website
www.jsw.in
CIN
L74999MH1994PLC077041
Corporate identity number, the registrar of companies' code for it
Incorporated
1994
Registered office
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai 400051, Maharashtra
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments