JSW Energy reported a 67% surge in EBITDA for Q2 FY26, reaching ₹3,180 Crore, propelled by renewable capacity additions and acquisitions, including Mahanadi and O2 Power. Installed capacity increased by 5.5 GW (up 71% YoY). The company commissioned the 240 MW Kutehr Hydroelectric Project. The company’s performance has been very strong with significant earnings growth in Q2 FY26.
Financial Performance Highlights
JSW Energy’s Q2 FY26 EBITDA increased by 67% YoY to ₹3,180 Crore, driven by organic renewable capacity additions, and contributions from the recently acquired Mahanadi and O2 Power assets. Reported Profit After Tax (PAT) for Q2 FY26 stood at ₹705 Cr, a 17% decline YoY, while Cash PAT grew by 27% YoY to ₹1,512 Cr. Receivables on a DSO basis stood at 64 days, and Cash & Cash Equivalents at ₹6,181 Crore.
Operational Growth and Capacity
Installed capacity increased by 5.5 GW (up 71% YoY) to 13,211 MW, resulting in a 52% YoY increase in net generation. The company commissioned the 240 MW Kutehr Hydroelectric Project. Thermal generation increased 62% YoY. Renewable energy generation increased 42% YoY with addition of 3.3 GW. Net long-term PPA generation grew by 56% YoY.
Strategic Developments
JSW Energy completed the acquisition of KSK Water Infrastructure. They entered into an agreement with GE Power India to acquire its boiler manufacturing business. The company signed a definitive agreement with Statkraft IH Holding to acquire the 150 MW under-construction Tidong HEP. The integration of the Mahanadi plant and O2 Power is progressing well.
Key Operational Data
Total Net Generation at various locations is as follows:
Thermal
- Vijayanagar: 1,069 MUs
- Ratnagiri: 1,762 MUs
- Barmer: 1,357 MUs
- Mahanadi: 2,843 MUs
- Utkal: 793 MUs
Renewable
- Hydro: 3,028 MUs
- Solar: 905 MUs
- Wind: 3,161 MUs
Source: BSE
