JSW Energy Q1 Review - Miss On Account Of Higher Operating, Finance Costs: Motilal Oswal
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Motilal Oswal Report
JSW Energy Ltd.’s results reflect the impact of higher operating and finance costs, leading to lower profitability.
At the consolidated level, Ebitda was down 6% YoY to Rs 7.0 billion, 7% below our estimate of Rs 7.5 billion.
JSW Energy has set its sights on improving its renewables footprint, with plans to reach a total of 10 gigawatt of installed capacity by FY25 (versus 4.5 GW currently).
Power purchase agreements have been signed for Solar Energy Corporation of India Ltd. IX (810 megawatt) and captive projects (958 MW).
However, even as we build in the successful commissioning of 2.2GW of renewable projects over the next two to three years, the current price rightly factors this in.
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