JSW Energy Limited — Quarter and year ended 31 March 2026
| Sr. No. | Particulars | Quarter Ended 31.03.2026 Refer Note 16 | Quarter Ended 31.12.2025 Unaudited | Quarter Ended 31.03.2025 Refer Note 16 | Year Ended 31.03.2026 Audited | Year Ended 31.03.2025 Audited |
|---|---|---|---|---|---|---|
| 31.03.2026 Refer Note 16 | 31.12.2025 Unaudited | 31.03.2025 Refer Note 16 | 31.03.2026 Audited | 31.03.2025 Audited | ||
| 1 | Income: | |||||
| a) Revenue from operations | 4,498.58 | 4,081.76 | 3,189.39 | 18,901.13 | 11,745.39 | |
| b) Other income | 352.29 | 172.78 | 308.00 | 976.59 | 894.10 | |
| Total income | 4,850.87 | 4,254.54 | 3,497.39 | 19,877.72 | 12,639.49 | |
| 2 | Expenses: | |||||
| a) Fuel cost | 1,340.14 | 1,240.86 | 1,163.10 | 5,581.38 | 4,456.03 | |
| b) Purchase of stock-in-trade | 3.97 | 48.47 | 140.39 | 85.71 | 140.39 | |
| c) Employee benefits expense | 184.39 | 193.47 | 131.14 | 727.66 | 464.29 | |
| d) Finance costs | 1,608.49 | 1,484.88 | 675.28 | 5,816.45 | 2,269.13 | |
| e) Depreciation and amortisation expenses | 808.96 | 828.70 | 481.86 | 3,185.27 | 1,654.64 | |
| f) Other expenses | 720.36 | 569.39 | 550.28 | 2,441.97 | 1,463.86 | |
| Total expenses | 4,666.31 | 4,365.77 | 3,142.05 | 17,838.44 | 10,448.34 | |
| 3 | Share of profit of a joint venture and an associate | 3.24 | 3.54 | 5.37 | 11.73 | 22.75 |
| 4 | Profit/(Loss) before exceptional items, tax and deferred tax adjustable in future tariff (1 – 2 + 3) | 187.80 | (107.69) | 360.71 | 2,051.01 | 2,213.90 |
| 5 | Exceptional items [Refer note 13] | – | (65.19) | – | (65.19) | – |
| 6 | Profit/(Loss) before tax and deferred tax adjustable in future tariff (4+5) | 187.80 | (172.88) | 360.71 | 1,985.82 | 2,213.90 |
| 7 | Tax expense | |||||
| – Current tax | 95.39 | 42.91 | 92.32 | 334.56 | 386.78 | |
| – Deferred tax [Refer note 14] | (370.97) | (750.84) | (117.74) | (945.98) | (156.05) | |
| 8 | Deferred tax adjustable in future tariff | (110.15) | 6.30 | (28.38) | (165.17) | 0.29 |
| 9 | Profit for the period / year (6 – 7 – 8) | 573.53 | 528.75 | 414.51 | 2,762.41 | 1,982.88 |
| 10 | Other comprehensive income / (loss) | |||||
| A.(i) Items that will not be reclassified to profit or loss | ||||||
| (ii) Income tax relating to items that will not be reclassified to profit or loss | (289.16) | 172.16 | 1,131.07 | 437.29 | 1,630.62 | |
| 45.67 | (26.47) | (163.78) | (61.30) | (345.84) | ||
| B.(i) Items that will be reclassified to profit or loss | 0.90 | (52.98) | 211.97 | (27.48) | 49.43 | |
| (ii) Income tax relating to items that will be reclassified to profit or loss | 40.09 | (11.24) | (57.55) | (2.41) | (18.97) | |
| (iii) Deferred tax adjustable in future tariff | (36.84) | (10.26) | 57.55 | (46.84) | 18.97 | |
| Total other comprehensive income / (loss) for the period / year | (239.34) | 71.21 | 1,179.26 | 299.26 | 1,334.21 | |
| 11 | Total comprehensive income / (loss) for the period / year (9 + 10) | 334.19 | 599.96 | 1,593.77 | 3,061.67 | 3,317.09 |
| Total comprehensive income / (loss) for the period / year attributable to: | ||||||
| Owners of the Company | 131.08 | 488.56 | 1,591.64 | 2,535.99 | 3,289.35 | |
| Non controlling interests | 203.11 | 111.40 | 2.13 | 525.68 | 27.74 | |
| Profit for the period / year attributable to : | ||||||
| Owners of the Company | 371.57 | 419.94 | 408.05 | 2,239.31 | 1,950.89 | |
| Non controlling interests | 201.96 | 108.81 | 6.46 | 523.10 | 31.99 | |
| Other comprehensive income / (loss) for the period / year attributable to : | ||||||
| Owners of the Company | (240.49) | 68.62 | 1,183.59 | 296.68 | 1,338.46 | |
| Non controlling interests | 1.15 | 2.59 | (4.33) | 2.58 | (4.25) | |
| 12 | Paid-up equity share capital (net of treasury shares) | 1,756.18 | 1,746.60 | 1,745.25 | 1,756.18 | 1,745.25 |
| (Face value of ₹10 per share) | ||||||
| 13 | Other equity | 28,995.33 | 25,616.18 | |||
| 14 | Earnings per share (EPS) (not annualised for the quarter) | |||||
| – Basic EPS (₹) | 2.12 | 2.41 | 2.34 | 12.82 | 11.19 | |
| – Diluted EPS (₹) | 2.07 | 2.41 | 2.34 | 12.74 | 11.18 |
| Sr. No. | Particulars | As at 31.03.2026 Audited | As at 31.03.2025 Audited |
|---|---|---|---|
| A | ASSETS | ||
| 1 | Non-current assets: | ||
| (a) Property, plant and equipment | 61,806.07 | 45,713.02 | |
| (b) Capital work-in-progress | 17,409.45 | 10,276.92 | |
| (c) Goodwill | 659.18 | 639.82 | |
| (d) Other intangible assets | 12,057.76 | 7,802.40 | |
| (e) Intangible assets under development | 55.09 | 4.01 | |
| (f) Investments in an associate and a joint venture | 106.50 | 94.77 | |
| (g) Financial assets | |||
| (i) Investments | 8,007.57 | 7,558.92 | |
| (ii) Trade receivables | 266.74 | 290.12 | |
| (iii) Loans | 567.64 | 567.64 | |
| (iv) Other financial assets | 4,253.99 | 2,542.05 | |
| (h) Income tax assets (net) | 319.29 | 342.78 | |
| (i) Deferred tax assets (net) | 374.50 | 483.57 | |
| (j) Other non-current assets | 2,891.24 | 1,547.21 | |
| Total non-current assets | 1,08,775.02 | 77,863.23 | |
| 2 | Current assets: | ||
| (a) Inventories | 960.58 | 905.33 | |
| (b) Financial assets | |||
| (i) Investments | 3,264.86 | 2,101.60 | |
| (ii) Trade receivables | 1,630.17 | 1,319.82 | |
| (iii) Unbilled revenue | 1,343.09 | 1,294.54 | |
| (iv) Cash and cash equivalents | 4,142.45 | 3,233.53 | |
| (v) Bank balances other than (iv) above | 1,622.77 | 1,461.64 | |
| (vi) Loans | 271.70 | 198.90 | |
| (vii) Other financial assets | 402.49 | 239.52 | |
| (c) Other current assets | 1,768.56 | 1,320.87 | |
| Total current assets | 15,406.67 | 12,075.75 | |
| TOTAL ASSETS (1+2) | 1,24,181.69 | 89,938.98 | |
| B | EQUITY AND LIABILITIES | ||
| 1 | Equity | ||
| (a) Equity share capital | 1,756.18 | 1,745.25 | |
| (b) Other equity | 28,995.33 | 25,616.18 | |
| Equity attributable to owners of the Company | 30,751.51 | 27,361.43 | |
| Non-controlling interests | 2,825.85 | 1,723.63 | |
| Total equity | 33,577.36 | 29,085.06 | |
| 2 | Liabilities | ||
| I | Non-current liabilities | ||
| (a) Financial liabilities | |||
| (i) Borrowings | 64,875.02 | 44,896.85 | |
| (ii) Lease liabilities | 1,050.43 | 462.24 | |
| (iii) Other financial liabilities | 177.37 | 55.09 | |
| (b) Provisions | 204.96 | 152.22 | |
| (c) Deferred tax liabilities (net) | 3,229.27 | 3,083.39 | |
| (d) Other non-current liabilities | 837.26 | 488.71 | |
| Total non-current liabilities | 70,374.31 | 49,138.50 | |
| II | Current liabilities | ||
| (a) Financial liabilities | |||
| (i) Borrowings | 10,971.12 | 4,724.45 | |
| (ii) Lease liabilities | 49.21 | 101.64 | |
| (iii) Trade payables* | 1,423.31 | 1,409.45 | |
| (iv) Other financial liabilities | 6,641.71 | 4,630.93 | |
| (b) Other current liabilities | 963.37 | 706.87 | |
| (c) Provisions | 115.50 | 33.95 | |
| (d) Current tax liabilities (net) | 65.80 | 108.13 | |
| Total current liabilities | 20,230.02 | 11,715.42 | |
| Total liabilities | 90,604.33 | 60,853.92 | |
| TOTAL EQUITY AND LIABILITIES (1+2) | 1,24,181.69 | 89,938.98 |
| Sr. No. | Particulars | For the year ended 31.03.2026 (Audited) | For the year ended 31.03.2025 (Audited) |
|---|---|---|---|
| I. | CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit before tax and deferred tax adjustable in future tariff | 1,985.82 | 2,213.90 | |
| Adjusted for: | |||
| Depreciation and amortisation expense | 3,185.27 | 1,654.64 | |
| Finance costs | 5,816.45 | 2,269.13 | |
| Interest income earned on financial assets that are not designated as fair value through profit or loss | (361.66) | (333.08) | |
| Dividend income from investments designated as fair value through other comprehensive income | (19.61) | (51.13) | |
| Dividend income from investments designated as fair value through profit or loss | (0.21) | (0.19) | |
| Share of profit of a joint venture | (11.73) | (22.75) | |
| Net gain arising on financial instruments designated as fair value through profit or loss | (36.96) | (0.83) | |
| Writeback of liabilities no longer required | (264.25) | (73.84) | |
| Share based payments | 52.49 | 36.61 | |
| Loss on disposal of property, plant and equipment (net) | 3.38 | 0.56 | |
| Impairment loss recognised on loans / trade receivables | 21.98 | 15.87 | |
| Unrealised foreign exchange loss (net) | 49.47 | 121.90 | |
| Property, plant and equipment written off | 52.46 | 31.09 | |
| Consideration payable written back | – | (106.50) | |
| Operating profit before working capital changes | 8,487.08 | 3,541.48 | |
| 10,472.90 | 5,755.38 | ||
| Adjustments for movement in working capital: | |||
| (Increase) in trade receivables and unbilled revenue | (194.31) | (726.93) | |
| (Increase) / Decrease in inventories | (55.25) | 210.74 | |
| (Increase) in current and non current assets | (160.69) | (951.16) | |
| Increase / (Decrease) in trade payables and other liabilities | 121.57 | (120.50) | |
| (288.68) | (1,587.84) | ||
| Cash flow from operations | 10,184.22 | 4,167.54 | |
| Income taxes paid (net) | (285.91) | (329.06) | |
| NET CASH GENERATED FROM OPERATING ACTIVITIES | 9,898.31 | 3,838.48 | |
| II. | CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of property, plant and equipment (including capital work-in-progress and capital advances) | (10,310.47) | (6,708.57) | |
| Proceeds from sale of property, plant and equipment (including capital work-in-progress) | 199.01 | 1.64 | |
| Loans given | (76 |