JSW Energy Q2 results, quarter to Sep 2026

NSE: JSWENERGYBSE: 533148PowerMid Cap

JSW Energy Limited · Face value ₹10 · Listed Jan 2010

₹483.00₹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 filed its Q2 results for the quarter to Sep 2026 on 28 Oct 2026 at 6:41 pm, consolidated: the company and its subsidiaries together.

Q2 results, quarter to Sep 2026

₹ crore.JSW Energy annual results and balance sheet

Revenue: ₹6,368 Cr+23.0% on a year ago · +22.3% on the quarter before
Operating profit: ₹3,618 Cr+20.7% on a year ago · +25.9% on the quarter before
Net profit: ₹1,141 Cr+38.4% on a year ago · +114.2% on the quarter before
Earnings per share: ₹5.77+42.8% on a year ago · +118.6% on the quarter before
Operating margin: 56.8%
Net margin: 17.9%

From revenue to net profit, ₹ crore

Revenue6,368
Materials and goods−1,810
Employee costs−225
Other expenses−716
Operating profit3,618
Depreciation−943
Other income+289
Finance costs−1,615
Profit before tax1,349
Tax−207
Joint ventures−0.8
Net profit1,141

JSW Energy results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Sep 2026. Results for the quarter to Dec 2026 are due by 14 Feb 2027, 45 days after it ends. Every company's dates are on the results calendar.Results filings and date

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit

Peak revenue ₹6,368 Cr, quarter to Sep 2026; lowest ₹2,439 Cr, quarter to Dec 2024

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Dec 2021Q3Filed 19 Jan	Mar 2022	Jun 2022Q1	Sep 2022	Dec 2022Q3	Mar 2023	Jun 2023Q1Filed 14 Jul	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024	Dec 2024Q3	Mar 2025Q4	Jun 2025Q1	Sep 2025Q2	Dec 2025Q3	Mar 2026Q4Filed 11 May	Jun 2026Q1Filed 22 Jul	Sep 2026Q2
Revenue from operations	1,894	2,441	3,026	2,387	2,248	2,670	2,928	3,259	2,543	2,756	2,879	3,238	2,439	3,189	5,143	5,177	4,082	4,499	5,207	6,368
	1,102	1,309	2,004	1,498	1,623	1,925	1,706	1,379	1,432	1,587	1,462	1,553	1,525	1,985	2,355	2,181	2,052	2,249	2,334	2,751
Materials and goods bought	822	995	1,769	1,202	1,351	1,616	1,381	1,059	1,068	1,199	1,066	1,152	1,075	1,303	1,613	1,421	1,289	1,344	1,531	1,810
Employee costs	68	72	60	88	84	75	92	86	93	93	108	115	110	131	159	191	193	184	216	225
Other expenses	213	242	176	208	188	234	233	234	271	295	287	285	341	550	583	569	569	720	587	716
Operating profit before depreciation	791	1,132	1,022	890	625	745	1,222	1,880	1,111	1,169	1,418	1,685	914	1,204	2,789	2,996	2,030	2,250	2,873	3,618
Operating margin	41.8%	46.4%	33.8%	37.3%	27.8%	27.9%	41.7%	57.7%	43.7%	42.4%	49.2%	52.0%	37.5%	37.8%	54.2%	57.9%	49.7%	50.0%	55.2%	56.8%
Depreciation and amortisation	281	277	289	294	295	291	398	409	400	427	375	392	406	482	739	809	829	809	890	943
Other income	91	214	89	209	102	136	85	128	119	123	163	222	201	308	268	184	173	352	229	289
Finance costs	195	100	193	204	214	233	486	514	521	533	511	518	565	675	1,306	1,418	1,485	1,608	1,519	1,615
Profit before one-off items and tax	405	968	629	600	218	357	424	1,086	309	332	694	997	145	355	1,012	954	−111	185	694	1,349
One-off items	0	0	120	0	0	0	0	0	0	0	0	0	0	0	0	0	−65	0	0	0
Profit before tax	405	968	749	600	218	357	424	1,086	309	332	694	997	145	355	1,012	954	−176	185	694	1,349
	87	92	198	148	48	–	136	235	78	−6	164	128	−7	−54	180	131	−702	−386	163	207
Current tax	61	98	114	106	34	–	81	146	82	85	103	132	59	92	83	114	43	95	60	76
Deferred tax	26	−7	84	42	14	–	55	89	−4	−92	61	−4	−66	−146	97	18	−745	−481	103	131
Tax rate	21.4%	9.5%	26.4%	24.7%	22.0%	–	32.0%	21.6%	25.3%	−1.9%	23.6%	12.9%	−5.1%	−15.1%	17.7%	13.8%	–	−209.0%	23.5%	15.3%
Share of profit of joint ventures and associates	2	1	3	5	17	−6	2	6	2	7	4	8	5	5	3	2	4	3	2	−1
	321	877	555	457	187	282	290	857	232	345	534	877	157	415	836	824	529	574	533	1,141
Belonging to the company's shareholders	324	864	560	466	180	272	290	850	231	351	522	853	168	408	743	705	420	372	471	1,056
Belonging to outside owners of subsidiaries	−3	13	−6	−9	7	10	0	7	1	−6	12	24	−10	6	93	120	109	202	62	85
Other comprehensive income	−37	459	−1,009	487	554	8	504	−68	788	−442	619	517	−981	1,179	−391	858	71	−239	946	−204
Total comprehensive income	284	1,337	−454	943	741	290	794	788	1,021	−97	1,153	1,394	−824	1,594	445	1,682	600	334	1,479	937
Net margin	16.9%	36.0%	18.3%	19.1%	8.3%	10.6%	9.9%	26.3%	9.1%	12.5%	18.6%	27.1%	6.5%	13.0%	16.3%	15.9%	13.0%	12.7%	10.2%	17.9%
Net margin without joint ventures and associates	16.8%	35.9%	18.2%	18.9%	7.5%	10.8%	9.8%	26.1%	9.1%	12.3%	18.4%	26.8%	6.2%	12.8%	16.2%	15.9%	12.9%	12.7%	10.2%	17.9%
Earnings per share	₹1.95	₹5.25	₹3.41	₹2.85	₹1.09	₹1.66	₹1.77	₹5.18	₹1.41	₹2.14	₹3.00	₹4.90	₹0.96	₹2.34	₹4.26	₹4.04	₹2.41	₹2.12	₹2.64	₹5.77
Diluted earnings per share	₹1.94	₹5.24	₹3.40	₹2.84	₹1.09	₹1.66	₹1.76	₹5.17	₹1.41	₹2.13	₹3.00	₹4.88	₹0.96	₹2.34	₹4.25	₹4.04	₹2.41	₹2.07	₹2.57	₹5.62

Earnings per share in rupees, restated for later splits and bonuses.

Segment results by quarter

Consolidated, ₹ crore, quarters to Sep 2026.JSW Energy segment results by year

Thermal
Revenue, ₹ crore
1,951
2,139
1,915
1,917
1,845
2,265
3,622
3,241
3,004
3,346
3,453
3,815
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Profit, ₹ crore
586
622
497
432
422
507
1,268
1,020
866
1,212
1,066
1,106
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Renewables
Revenue, ₹ crore
545
567
911
1,282
538
847
1,492
1,926
1,067
1,142
1,740
2,532
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Profit, ₹ crore
190
181
578
938
158
401
936
1,260
360
499
998
1,666
Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26

₹ crore	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue of all businesses	2,496	2,706	2,826	3,199	2,384	3,112	5,114	5,166	4,071	4,487	5,194	6,347
Company revenue, as in its results	2,543	2,756	2,879	3,238	2,439	3,189	5,143	5,177	4,082	4,499	5,207	6,368
Revenue	1,951	2,139	1,915	1,917	1,845	2,265	3,622	3,241	3,004	3,346	3,453	3,815
Revenue growth	–	−9.1%	−8.1%	5.2%	−5.4%	5.9%	89.1%	69.1%	62.8%	47.7%	−4.6%	17.7%
Profit	586	622	497	432	422	507	1,268	1,020	866	1,212	1,066	1,106
Profit growth	–	103.8%	26.1%	−7.5%	−27.9%	−18.6%	155.0%	136.1%	105.0%	139.3%	−15.9%	8.4%
Margin	30.0%	29.1%	26.0%	22.5%	22.9%	22.4%	35.0%	31.5%	28.8%	36.2%	30.9%	29.0%
Assets	13,051	13,469	13,499	13,526	13,844	34,776	34,983	35,847	35,968	36,091	37,423	40,637
Liabilities	11,139	11,638	9,870	9,924	10,156	31,622	32,690	33,792	34,367	33,597	31,166	35,484
Capital employed	1,912	1,831	3,629	3,602	3,688	3,154	2,293	2,055	1,601	2,494	6,256	5,153
Revenue	545	567	911	1,282	538	847	1,492	1,926	1,067	1,142	1,740	2,532
Revenue growth	–	123.0%	16.8%	−7.4%	−1.2%	49.4%	63.8%	50.1%	98.2%	34.7%	16.7%	31.5%
Profit	190	181	578	938	158	401	936	1,260	360	499	998	1,666
Profit growth	–	128.9%	27.9%	−10.2%	−17.0%	122.1%	61.9%	34.3%	128.5%	24.3%	6.6%	32.3%
Margin	34.9%	31.9%	63.5%	73.1%	29.3%	47.4%	62.8%	65.4%	33.8%	43.7%	57.4%	65.8%
Assets	34,228	34,563	36,848	38,413	39,239	42,433	61,515	64,353	66,502	72,506	74,661	76,821
Liabilities	23,270	25,414	25,593	26,496	27,105	28,935	46,112	48,042	50,667	56,741	58,435	61,377
Capital employed	10,958	9,149	11,255	11,917	12,133	13,499	15,403	16,312	15,836	15,765	16,226	15,444
Revenue	47	50	54	39	55	77	30	11	11	12	13	21
Profit	21	27	25	29	30	42	22	−3	8	−7	5	−11
Assets	8,409	10,237	12,451	12,993	11,876	12,729	12,619	13,486	15,073	15,585	17,115	19,635
Liabilities	121	203	215	230	234	297	307	251	260	266	484	437

Profit is before tax and finance costs, the way companies report their segments.