What was JSW Energy's revenue in Q4 FY26?

JSW Energy reported revenue of ₹4,499 Cr in Q4 FY26, a +39% change year-over-year.

Did JSW Energy management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

JSW Energy Q4 FY26 Research Workspace: Revenue ₹4,499 Cr (+39%)

Q: What guidance did JSW Energy management give?

FY27 capacity addition of ~3 GW: Management expects to commission approximately 3 GW of renewable capacity in FY27, split roughly 35-40% wind and rest solar, with half in H1.

Revenue ₹4,499 Cr +39%

EBITDA ₹2,602 Cr +72%

PAT ₹574 Cr +38%

EBITDA Margin 50% +1020bps

Duration 62 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

JSW Energy delivered a strong Q4 FY26, with revenue up 39% YoY to ₹4,851 crore and EBITDA surging 72% YoY to ₹2,602 crore, driven by a 48% increase in generation to 11.7 billion units. The company added 2.6 GW of capacity during the year, reaching 13.45 GW operational, and reported its highest-ever annual EBITDA of ₹11,041 crore. Management guided for ~3 GW of capacity additions in FY27, with a capex of ~₹20,000 crore, and reiterated its 2030 target of 30 GW generation and 40 GWh storage. Key risks include evacuation constraints causing curtailment (₹50 crore impact in FY26, expected to resolve by July 2026) and potential DSM regulation impact of 1.5-2% of renewable revenue.

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Evacuation constraints causing curtailment

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Quarter Snapshot

Installed Capacity 13.45 GW

+2.6 GW YoY

Total operational capacity increased by 2.6 GW during FY26, including organic and inorganic additions.

Generation 11.7 billion units

+48% YoY

Net generation for Q4 FY26 rose 48% year-on-year, driven by renewable energy growth of 68%.

Thermal PLF 78%

+9.3pp vs national avg

Overall thermal portfolio PLF of 78% for Q4, compared to national average of 68.7%.

Locked-in Capacity 32.1 GW

+2.6 GW YoY

Total locked-in generation capacity including under-construction and LOI projects, on track for 30 GW by 2030.

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Guidance and risk preview

Top guidance FY27 capacity addition of ~3 GW

Management expects to commission approximately 3 GW of renewable capacity in FY27, split roughly 35-40% wind and rest solar, with half in H1.

Top risk Evacuation constraints causing curtailment

Power curtailment due to evacuation constraints led to a revenue loss of ~₹50 crore in FY26, expected to resolve by July 2026.