JSW Energy Q4 Results: EBITDA surges 87% on acquisitions, capacity additions

JSW Energy

reported record EBITDA in the March quarter, driven by capacity additions, strong operational growth and contribution from recent acquisitions, even as net profit declined on a year-on-year basis.

Revenue for the quarter rose 41% year-on-year to ₹4,498.6 crore, while EBITDA surged 86.8% to a record ₹2,249.8 crore.

Operating margin expanded sharply to 50% from 37.8% a year ago, reflecting improved scale and contribution from newly integrated assets such as KSK Mahanadi and O2 Power.

However, net profit declined 8.8% year-on-year to ₹372 crore from ₹408 crore in the corresponding quarter last year.

Operationally, the company reported strong growth across both thermal and renewable segments. Power sales rose 48% year-on-year to 11.7 billion units, led by higher thermal generation and increased renewable contribution from the O2 Power portfolio and fresh capacity additions.

Installed capacity increased to 13.45 GW during the quarter, taking total capacity addition for FY26 to 2,579 MW. Renewable energy now contributes nearly 58% of the company’s installed base.

Commenting on the performance, Joint Managing Director and CEO Sharad Mahendra said FY26 had been a “pivotal year” for the company as it translated its Strategy 3.0 ambitions into business outcomes through acquisitions, capacity expansion and operational integration.

The company also highlighted key strategic developments during the year, including scaling up the Salboni thermal project pipeline to 3,200 MW, commissioning India’s largest green hydrogen plant, and operationalising a 5 GWh battery assembly facility.

The board recommended a dividend of ₹2 per equity share, subject to shareholder approval at the upcoming annual general meeting.

Ahead of the earnings announcement, shares of JSW Energy Ltd had closed 2.31% lower at ₹558 on the NSE.