Jsw Energy Limited · NSE:JSWENERGY
Jsw Energy — Q1 FY27 Earnings Presentation
47 slides from Jsw Energy's earnings presentation, Jul 22, 2026
Slide 1: Q1 FY27 Result Presentation
Q1 FY27 Result Presentation 22nd July 2026
Slide 2: Forward Looking and Cautionary Statement
Forward Looking and Cautionary Statement This presentation has been prepared by JSW Energy Limited (the “Company”) based upon information available in the public domain solely for information purposes without regard to any specific objectives, financial situations or informational needs of any parti
Slide 3: Indian Economy
Indian Economy Real GDP Growth (%) • Indian economy continues to grow amid global 22.6 uncertainties 13.5 o Real GDP grew by 7.8% YoY in Q4 FY26 and is 9.9 9.7 9.3 9.5 6.9 8.4 7.5 7.4 7.0 8.3 8.0 7.8 estimated to remain healthy at 6.6% for FY27, as per 6.0 6.6 6.8 5.5 4.8 RBI 4.5 1.8 3.3 o PMI conti
Slide 4: Power Demand Trends in Q1 FY27
Power Demand Trends in Q1 FY27 Power Demand in BUs Power Demand Growth (% YoY) • All-India power demand rose 8.5% YoY FY 2027 FY 2026 FY 2025 FY 2027 FY 2026 to 483 BUs in Q1 FY27, supported by an 166 extended heatwave, delayed monsoon progression and higher cooling demand, driving increased residen
Slide 5: Agenda
Agenda 01 02 03 Operational & Company Strategy 3.0: Financial Highlights Growth Blueprint Performance 04 05 Safety & Appendix Sustainability JSW Energy Q1 FY27 Results Presentation 5
Slide 6: Company Highlights
Company Highlights Halol, Gujarat
Slide 7: Q1 FY27 - Key Highlights
Q1 FY27 - Key Highlights Record Capacity Addition of ~1.1 GW till July 8th Largest Growth Capital Raise in Indian Power Sector (₹ 10,150 Cr) Hybrid, 381 Preferential allotment to Promoters Wind, 108 Inorganic, 150 ₹1,125 Cr received; balance to be received before June ₹3,000 Cr 2027 1,081 MW 1,081 M
Slide 8: Q1 FY27 - Quarterly Highlights (1/2)
Q1 FY27 - Quarterly Highlights (1/2) LT Thermal Generation (MUs) Operational performance Utkal* +805 • Net generation volume: Declined by 5% YoY, from 13.5 BUs to 12.9 BUs, but up 10% QoQ Standalone (596) • RE (Wind & Solar) generation increased 11% YoY from 3.1 BUs to 3.4 BUs; up 41% QoQ Mahanadi (
Slide 9: Q1 FY27 - Quarterly Highlights (2/2)
Q1 FY27 - Quarterly Highlights (2/2) Consolidated Financial Growth Projects Strategic Updates Performance • Q1FY27 EBITDA up 2% YoY to ₹3,103 Cr • Renewable capacity up 1,081 MW till • Monetized part stake in JSW Steel on from ₹3,057 Cr July 8th (Solar +442 MW, Wind +108 18th May, as part of a strat
Slide 10: Operations & Financial Performance
Operations & Financial Performance Pune, Maharashtra
Slide 11: Consolidated Performance
Consolidated Performance Net Generation (MUs) Total Revenue (₹ Cr) Operational Highlights -5% Flat • Net generation softened by 5% YoY, primarily 13,494 5,411 5,437 driven by lower PLFs at Hydro plants and 12,868 Mahanadi Short Term FY26 • Hydro plants were impacted due to weak 87% 87% Long Term hyd
Slide 12: Consolidated Financial Results
Consolidated Financial Results Total Revenue (Q1 FY27) EBITDA (Q1 FY27) EBITDA Margin (Q1 FY27) Cash PAT (Q1 FY27) ₹5,437 Cr Flat ₹3,103 Cr +2% 57% 0.6 pp ₹1,464 Cr -7% vs ₹5,411 Cr Q1 FY26 vs ₹3,057 Cr Q1 FY26 vs 56% Q1 FY26 vs ₹1,579 Cr Q1 FY26 Particulars in ₹ Crore Q1 FY27 Q1 FY26 Total Revenue
Slide 13: EBITDA Bridge
EBITDA Bridge Q1 FY27 Particulars in ₹ Cr ₹ (186) Crore from Thermal 3,057 122 16 3,103 95 (109) (77) +2% YoY ₹ 217 Crore from Renewables EBITDA Thermal - LT Thermal - ST Solar & Wind Hydro Others EBITDA Q1 FY26 Q1 FY27 RE capacity addition and LT PPA tie up supporting EBITDA growth JSW Energy Q1 FY
Slide 14: Net Debt Movement Q1 FY27
Net Debt Movement Q1 FY27 Operational Net Debt (₹ Cr) CWIP Debt (₹ Cr) 3,867 8,055 57,779 -57 -2,434 54,883 -1,279 -2,993 6,437 -1,618 Net Debt as on New Debt Taken Forex restatement Repayment Movement in Change in Net Debt as on Mar 31,2026 (incl. acquisition and other short term Cash & Cash Jun 30
Slide 15: Superior Credit Profile
Superior Credit Profile Net Debt (₹ Cr) Net Worth (₹ Cr)* & Cash Returns (%) 36,161 63,771 65,834 20% 30,752 59,313 61,960 61,322 27,362 27,738 19% 29,124 29,634 20% 16% 18% 31,336 20,746 21,378 22,031 22,413 23,781 14% Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Adjusted Net Worth (₹ Cr) ** Net Worth
Slide 16: Healthy Trade Receivables
Healthy Trade Receivables Trade Receivables* (₹ Cr ) Off-taker Profile: Installed Capacity# HR, 2% Others, 10% 4,151 3,696 Open, 4% TN, 4% Hybrid, UP, 8% 1,696 Group Captive, 20% Hydro, Thermal, 1,781 5,658 C&I, 5% GJ, 3% 14,535 MW HP, 2% Wind, 3,125 MH, 3% Jun 30, 2025 Jun 30, 2026 AP, 3% Solar, SE
Slide 17: Cash Returns on Adjusted Net Worth
Cash Returns on Adjusted Net Worth ₹ Cr (Unless mentioned otherwise) Jun-26 Quarter ended Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 (TTM)^ PAT to Shareholders 351 522 853 168 408 743 705 420 372 471 1,967 Add: Depreciation 427 375 392 406 482 739 809 829 809 890 3,336 Add
Slide 18: Strategy 3.0: Growth Blueprint
Strategy 3.0: Growth Blueprint Vijayanagar, Karnataka
Slide 19: Generation Capacity – 30 GW by 2030
Generation Capacity – 30 GW by 2030 Wind, 5,370MW, 17% Hydro, 1,781MW, 5% Capacity (MW) Strategy 3.0 Target: 30 GW by 2030 32,363 Pipeline^ Merchant, Solar, 6,280MW, 2,396MW 3,961 19% 28,402 32.4 GW * 300 Locked-in Hybrid, 7,974MW, 25% 4,417 Group Captive/ C&I, 5,646MW 3,105 Utility Scale, 24,321MW
Slide 20: Under-Construction and Pipeline Projects
Under-Construction and Pipeline Projects Under Construction : 13,567 MW Pipeline Projects^: 4,261 MW Thermal Assets Wind Assets Solar Assets Fixed cost ( ₹/ Project Installed (MW) Project Installed (MW) Project Installed (MW) Kwh) SECI XII 300 NTPC Solar III 400 Salboni 1 3.6 1,600 SECI XV (Solar +E
Slide 21: Firmly on Track to Deliver 3 GW Capacity Addition in FY27
Firmly on Track to Deliver 3 GW Capacity Addition in FY27 3.0 GW ~1.1 GW 36% FY27 Guidance Achieved YTD Of Target Achieved ~1.1 GW ~1.9 GW 1.9 GW fully backed by secured land, connectivity and a diversified offtaker mix Diversified offtaker mix across utility, C&I and Connectivity In Place for 1.9 G
Slide 22: Execution-Ready Thermal Growth Platform
Execution-Ready Thermal Growth Platform De-risked thermal expansion - backed by land, infrastructure, fuel access and advanced project readiness Salboni Phase I ACTIVE EXECUTION Mahanadi DE-RISKED EXPANSION 1,600 MW Greenfield — Under Active Execution 1,800 MW Under Construction • BOP In Place for a
Slide 23: Energy Storage – Target of 40 GWh by 2030
Energy Storage – Target of 40 GWh by 2030; 29.6 GWh Locked-in BESS Projects PSP Projects BESPA BESS (GWh) Capacity Quoted Tariff SCOD Signed Tariff- PHESFA ₹ 4.41 Pumped Hydro Storage(GWh) Capacity Lakh/MW SCOD SECI (Kerala) Yes 0.5 Dec-2026 Signed Lakh/MW/Month / Annum Group Captive Yes 0.5 Various
Slide 24: Energy Storage – Pump Storage Project updates
Energy Storage – Pump Storage Project updates Tariff- Tariff- PHESFA Capacity PHESFA Capacity Pumped Hydro Storage(GWh) Lakh/MW/ SCOD Pumped Hydro Storage(GWh) Lakh/MW/ SCOD Signed (GWh) Signed (GWh) Annum Annum MSEDCL (1,500 MW) Yes 12.0 ₹ 84.6 FY 2030 UPPCL (1,500 MW) Yes 12.0 ₹ 77.2 FY 2031 Bhava
Slide 25: Safety & Sustainability
Safety & Sustainability Agrivoltaics at Vijayanagar Sustainability in every action — harmonizing farming with clean energy generation Solar Power Plant, Vijayanagar
Slide 26: Sustainability: Framework and Policies
Sustainability: Framework and Policies 17 Focus Areas with 2030 Targets - from 2020 as Base Year Governance & Oversight by Sustainability Committee Climate Change Renewable Power Biodiversity Independent Directors Mr. Sunil Goyal ▪ Committed to being carbon Enhance the renewable power No Net Loss fo
Slide 27: Sustainability: Targets and Strategy
Sustainability: Targets and Strategy Sustainability: Targets and Strategy FY20 Improvement FY30 SD Targets (FY20 to FY30) Strategic Initiatives and Approach Actuals Targets • GHG Emissions • Increased share of RE for de-carbonization - Total RE operational capacity Climate Change 0.76 48% 0.39 tCO2e
Slide 28: Sustainability: Q1 FY27 Performance
Sustainability: Q1 FY27 Performance Key Highlights Performance ▪ Supply Chain Sustainability Assessment for FY 2026-27 has been initiated in line with SEBI Ash Utilisation (%) requirements. Critical Tier-1 suppliers will be assessed on sustainability parameters to enhance ESG transparency, risk mana
Slide 29: Continued Focus on Health & Safety Excellence
Continued Focus on Health Safety Excellence ContinuedFocuson Health&SafetyExcellence All Figures are for Q1 FY2027 Safety Culture in Action Safety Performance Safety Week Celebrations at Thermal & MFG sites Leadership Safety Training • LTIFR - 0.05 Contractor Safety Management • Integrated 100% of C
Slide 30: Sustainability: Empowering Our Communities
Sustainability: Empowering Our Communities
Slide 31: Sustainability: Empowering Our Communities
Sustainability: Empowering Our Communities Sustainability: Empowering Our Communities Health and Nutrition Skills and Livelihoods • Provided 3,472 health consultations at the URJA Clinic in Ratnagiri, • Strengthened rural livelihoods in Ratnagiri through organized eye screening camps across four vil
Slide 32: Growth Projects Operationalized
Growth Projects Operationalized Sholtu, Himachal Pradesh
Slide 33: Tidong Hydro Commissioned Ahead of Schedule
Tidong Hydro Commissioned Ahead of Schedule Hydro Capacity Addition Execution Excellence PPA Tied up for 75 MW • Commissioned 150 MW Tidong Hydro • COD achieved on 12th June ahead of • Long-term PPA with UPPCL for 75 MW Project on Tidong river in Sutlej basin, Oct'26 guidance, capitalizing ongoing (
Slide 34: Strengthening Backward Integration Capabilities
Strengthening Backward Integration Capabilities Wind Blade Manufacturing Scale & Technology Competitive Advantage • Commissioned wind blade • Annual capacity of up to 450 blades • Strengthens supply chain security, and manufacturing plant at Halol, Gujarat, (~600 MW of wind projects); drives capex e
Slide 35: Battery Assembly Plant- Pune
Battery Assembly Plant- Pune BESS Manufacturing Domestic Content Readiness BESS Order Book expansion • Secured first large external order for a • Stabilized the 5 GWh battery container • Well-positioned to comply with 200 MW/400 MWh BESS project in July assembly plant in Pune, strengthening potentia
Slide 36: JSW Energy ESG Data Profile
ESG Data Profile JSW Energy ESG Data Profile Investor Relations Contact: ir.jswenergy@jsw.in
Slide 37: Capacity and Off taker Details: Installed + Under construction Portfolio
Capacity and Off taker Details: Installed + Under construction Portfolio Capacity Addition Offtaker Profile (Installed + Under construction Portfolio) Total Thermal Renewables HR, 1% WB, 11% Capacity (MW) Wind Solar Hybrid Hydro TN, 2% Others, 7% (A + B) (A) (B) UP, 4% Installed Capacity 14,535 5,65
Slide 38: Financial Results – Major Entities
Financial Results – Major Entities Entity-wise Revenue from Operations Particulars in ₹ Crore Q1 FY27 Q1 FY26 Standalone 1,101 916 JSW Energy (Barmer) 562 621 JSW Energy (Utkal) 516 604 Mahanadi 1,294 1,557 JSW Hydro Energy 250 339 O2 Power 480 244 Mytrah 431 473 JSW Renewable Energy (Vijayanagar) 1
Slide 39: Segment Wise Performance | Thermal
Segment Wise Performance | Thermal Ratnagiri TPP, Maharashtra Barmer TPP, Rajasthan Vijayanagar TPP, Karnataka Utkal TPP, Odisha 5,658 MW 3,800 MW 1,500 MW 10,958 MW Installed Under-construction Pipeline + Under-acquisition Thermal Capacity JSW Energy Q1 FY27 Results Presentation 39
Slide 40: Thermal Assets | Q1 FY27 (1/2)
Thermal Assets | Q1 FY27 (1/2) Offtaker Profile Operational Assets (5,658* MW ) / Under-Construction, Pipeline & Acquisition (5,300 MW ) Others, 4% Open, 7% Under-construction UP, 21% 5,658 MH, 6% MW KA, 8% Group RJ, 21% Captive, 33% Ratnagiri (1,200 MW) Barmer (1,080 MW) Vijayanagar (860 MW) Utkal
Slide 41: Thermal Assets | Q1 FY27 (2/2)
Thermal Assets| Q1 FY27 (2/2) Net Generation (MUs) Thermal : PLF – long term Operational Highlights 8,504 -6% 8,029 • Total Net Generation down 6% YoY to 8.0 100% BUs, impacted by lower generation from Short Term 79% 84% 63% Mahanadi and Ratnagiri plants Long Term 81%, 6,874 80%, 6,441 Total • Short
Slide 42: Operational Performance – Thermal
Operational Performance – Thermal Net Generation (MUs) PLF (%) Location (Current Capacity) Capacity (%) Q1 FY27 Q1 FY26 Change YoY Q1 FY27 Q1 FY26 LT 92% 1,481 1,630 -9% 68 (*92) 74 (*91) Ratnagiri (1,200 MW) Total 100% 1,911 2,061 -7% 79 86 Barmer (1,080 MW) LT 100% 1,312 1,390 -6% 64 (*78) 70 (*78
Slide 43: Segment Wise Performance | Renewables
Segment Wise Performance | Renewables Tuticorin, TN Jaisalmer, Rajasthan Vijayanagar , Karnataka Kutehr, Himachal Pradesh 8,877 MW 9,767 MW 2,761 MW 21,405 MW Installed Under-construction Pipeline Renewable Capacity JSW Energy Q1 FY27 Results Presentation
Slide 44: Renewable Assets | Q1 FY27 (1/2)
Renewable Assets | Q1 FY27 (1/2) Off taker Profile Total Wind – 5,370 MW Hydro - 1,781 MW Solar – 5,380 MW Hybrid––5,242MW Hybrid 6,113 MW 18,644 MW Operational 3,125 MW Operational 1,781 MW Operational 2,275 MW Operational 1,696 MW Others, Open, HR, 3% 13% UP, 1% 3% Group C&I, 8% Captive, 14% GJ, 5
Slide 45: Renewable Assets | Q1 FY27 (2/2)
Renewable Assets |Q1 FY27 (2/2) Installed Green Capacity (MW) Net Generation (MUs) Capacity Addition 8,668 • Capacity addition reached 1,081 MW till 7,110 4,990 4,840 July 8th (Q1FY27: +873 MW); 1,558 MW of RE capacity commissioned in the 12- Short Term (98%) (99%) Long Term months ending Jun’26 per
Slide 46: Operational Performance – Renewables
Operational Performance – Renewables Net Generation (MUs) PLF/CUF (%) Location (Current Capacity) Capacity (%) Q1 FY27 Q1 FY26 Change YoY Q1 FY27 Q1 FY26 LT 93% 1,385 1,799 -23% 42 64 * Hydro (1,781 MW) Total 100% 1,423 1,911 -26% 40 66 Solar (2,728 MW) ** LT 100% 1,197 925 29% 21 21 Wind (4,160 MW)
Slide 47: JSWHEL- Karcham Wangtoo & Baspa | Q1 FY27
JSWHEL- Karcham Wangtoo & Baspa| Q1 FY27 Net Generation (MUs) PAF & PLF Operational Highlights 102% • Weaker hydrology impacted hydro 100% 1,911 generation; output down 45% YoY to Short Term 66% 1,059 Q1 FY26 1,059 MUs 94% Long Term 36% Q1 FY27 1,799 100% Total • Plant Availability maintained at 100