Motilal Oswal: JSW Energy - Q2 Performance Impacted By Lower Merchant Sales
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Motilal Oswal Report
JSW Energy Ltd.’s Q2 FY21 results reflect the impact of lower merchant sales volumes on the back of drop in power demand and merchant prices. However, this was partly offset by operational efficiency measures.
At consolidated level, Ebitda was down 1% YoY to Rs 9.2 billion. Net debt (excluding acceptances) continued reducing (by approximately Rs 8.2 billion during the quarter). Interest cost has also decreased 24% YoY.
Further, free cash flow generation is expected to be robust as approximately 80% of the company’s capacity is under long-term power purchase agreements.
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