JSW Energy Limited — Q2FY27 earnings call summary

Filed 02 November 2026 · Official transcript

Commissioned 1.4 GW renewable capacity in FY27 so far; 3 GW target for FY27 with ₹20,000 crore capex
Power demand grew 11.1% y-y in Q2; peak demand 270 GW; long-term CAGR forecast 5-6%
Q2 FY27 revenue ₹6,658 crore +24% y-y; EBITDA ₹3,907 crore +23% y-y; PAT ₹1,141 crore +38% y-y
Battery energy storage system (BESS) 1 GWh commissioning planned in FY27; focus on solar-plus-storage
Net debt/TTM EBITDA 4.94x; cash ₹15,700 crore; debt cost down 51 bps to 8.28%
Curtailment 4.8% of generation in H1 FY27; expected reduction as temporary GNA moves to permanent
Multiple analyst queries on merchant sales, BESS strategy, and project timelines addressed
Thermal PLF 75% vs All-India 67.8%; Maruti acquisition EBITDA accretive from day one