JSW Energy shares rise over 2.5% on two key corporate announcements; check details

In its regulatory filing, the company said that JSW Neo Energy Limited, its wholly owned subsidiary, signed an agreement with Statkraft IH Holding AS to acquire 100% equity in Tidong Power Generation Pvt. Ltd (TPGPL) on September 18.

Tidong Power is developing a 150 MW hydropower project and reported FY25 revenue of ₹39 crore. The acquisition has been valued at an enterprise value of ₹1,728 crore.

Commenting on the development, Sharad Mahendra, Joint Managing Director and CEO of JSW Energy, said, “The acquisition further strengthens our position as the largest private hydropower player in India and reinforces our commitment to support India’s power sector. We are confident of completing the construction in a timely manner with our experience of delivering the fastest-built greenfield 240 MW Kutehr hydro plant and deriving synergies through the Karcham-Wangtoo Hydro plant.”

The plant is expected to be commissioned in October 2026 and has a 22-year Power Purchase Agreement remaining with Uttar Pradesh Power Corporation Ltd to procure 75 MW of power during the months of May to October at a tariff of ₹5.57/KWh.

The remaining capacity of 75 MW is currently untied and can be sold on the merchant market, the statement said.

After this transaction, the company's locked-in generation capacity stood at 30.5 GW, with hydro capacity of 1.8 GW, including current operational hydro capacity of 1.6 GW.

In a separate development, JSW Energy, the power arm of the JSW Group, announced it will acquire GE Power India’s boiler manufacturing unit through a strategic demerger to strengthen its thermal power business.

The business being demerged reported revenues of ₹529.5 crore in FY25, which represents about 5.1% of JSW Energy’s turnover. The transaction will enable JSW Energy to enter the boiler pressure parts manufacturing segment.

Following these developments, shares of JSW Energy were trading 1.36% higher at ₹545 apiece on the NSE at 12:56 AM. The counter opened the day at ₹551, up from the previous close of ₹537.80.

JSW Energy Q1 results

JSW Energy reported a 42.43% year-on-year (YoY) surge in its consolidated net profit to ₹743.12 crore in the June quarter of FY26, compared to ₹521.76 crore in the corresponding period a year earlier. During the quarter under review, the company’s revenue from operations stood at ₹5,143.37 crore, jumping 78.62% YoY from ₹2,879.46 crore in the first quarter of FY25.

The firm earned a revenue of ₹3,621.78 crore for its thermal segment in Q1FY26, rising 89.15% YoY from ₹1,914.79 crore in the same period a year ago. Its renewables segment revenue grew 63.77% YoY to ₹1,491.82 crore, as against ₹910.93 crore in Q1FY25. Furthermore, its unallocated segment contributed ₹29.77 crore in revenue, a 44.60% YoY decrease from the ₹53.74 crore logged a year ago.

At an operational level, JSW Energy’s EBITDA (earnings before interest, tax, depreciation, and amortisation) soared 96.82% YoY to ₹2,789 crore in the June FY26 quarter, compared to ₹1,417 crore in the year-ago period.

The organic renewable capacity additions and contributions from Mahanadi and O2 Power drove the EBITDA growth. Its EBITDA margin expanded to 54.23% in Q1FY26 from 49.22% in the June FY25 quarter.