# JSW Energy share price today (JSW Energy Ltd, NSE: JSWENERGY)

> JSW Energy share price today: ₹502.60 at the NSE close on 3 November 2026, down 4.7% in a year. JSW Energy (NSE: JSWENERGY) is worth ₹92,215 crore, trades at a P/E of 39.1 and has closed between ₹440.80 and ₹595.05 over the past 52 weeks. > JSW Energy Ltd's earnings have grown faster than its share price. Earnings per share grew +14.2% in a year while the price moved −4.7%. JSWENERGY · Power - Generation/Distribution · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/jsw-energy-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹502.60 (−4.7% in a year)
- P/E: 39.1× (higher than 63% of the last 11 years)
- Revenue (Sep 2026): ₹6,368 Cr (+23.0% on a year ago)
- Profit (Sep 2026): ₹1,141 Cr (+38.5% on a year ago)
- Operating margin: 57.0% (−1.0 points on a year ago)
- ROCE: 8%, FY26
- Profit that came in as cash: 309%, last 3 years

The main question: promoters moved −2.8 percentage points over 8 quarters while the business went the other way. ## What is the JSW Energy share price today? JSW Energy Ltd's share price was ₹502.60 at the close on 3 November 2026. It has been falling for 4 weeks. That is 3.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹441 and ₹595, and at that close it sat 40% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 19 weeks running. Over the last 11 years the share price moved +627% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 3 July 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at JSW Energy this quarter? 1. Revenue up on a year earlier for 7 quarters in a row In the September 2026 quarter revenue was ₹6,368 crore, +23% on a year earlier. Why: Revenue rose because the company ran its thermal plants at higher use and produced more electricity. Next results: check whether less power is lost to grid limits as temporary grid access turns permanent by the end of the current quarter. From the earnings call on 28 Oct 2026. 3. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row From 14.3% to 16.7% of the company by the September 2026 quarter. ## What are JSW Energy's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), JSW Energy reported revenue of ₹6,368 crore, up 23.0% from ₹5,177 crore a year earlier, and a profit of ₹1,141 crore, up 38.5% from ₹824 crore. ### JSW Energy results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹6,368 crore | ₹5,177 crore | +23.0% |
| Profit | ₹1,141 crore | ₹824 crore | +38.5% |
| Earnings per share | ₹5.76 | ₹4.03 | +42.9% |
| Operating margin | 57.0% | 58.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). JSW Energy's management discussed these results on a call held on 28 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the JSW Energy share price history? JSW Energy closed at ₹502.60 on 3 November 2026, down 4.7% from ₹527.45 a year earlier (31 October 2025) and up 51.2% over five years. Its highest weekly close since March 2016 was ₹782.35 on 20 September 2024. ### JSW Energy share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹448.55 | +12.0% |
| 1 month ago · 1 Oct 2026 | ₹485.00 | +3.6% |
| 6 months ago · 30 Apr 2026 | ₹561.15 | −10.4% |
| 1 year ago · 31 Oct 2025 | ₹527.45 | −4.7% |
| 3 years ago · 3 Nov 2023 | ₹393.80 | +27.6% |
| 5 years ago · 4 Nov 2021 | ₹332.50 | +51.2% |
| 10 years ago · 4 Nov 2016 | ₹62.70 | +701.6% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹69.10 | +627.4% |
| Highest weekly close since March 2016 · 20 Sep 2024 | ₹782.35 | −35.8% |
| Lowest weekly close since March 2016 · 22 May 2020 | ₹39.25 | +1,180.5% |
| 52-week high (weekly close) · 29 May 2026 | ₹595.05 | −15.5% |
| 52-week low (weekly close) · 1 Feb 2026 | ₹440.80 | +14.0% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on JSW Energy? 3 Nov 2026: JSW Energy closed at ₹502.60, up 12.0% on the week and up 3.6% on the month. 28 Oct 2026: JSW Energy held its results call for July to September 2026. Management guided: FY27 3 GW commissioning goal reaffirmed with balance backed by secured land, transmission, equipment and long-term agreements. ### Earlier

- Results for July to September 2026: Revenue up 23.0% and profit up 38.5% on a year earlier. - 5 Jun 2026: ex-date for a dividend of ₹2 a share. ## What dividend does JSW Energy pay? JSW Energy paid ₹2 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.40% at the ₹502.60 close on 3 November 2026. The last was a dividend of ₹2 a share, ex-date 5 June 2026. ### JSW Energy dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 5 Jun 2026 | ₹2 | Dividend |
| 6 Jun 2025 | ₹2 | Dividend |
| 31 May 2024 | ₹2 | Dividend |
| 2 Jun 2023 | ₹2 | Dividend |
| 30 May 2022 | ₹2 | Dividend |
| 27 Jul 2021 | ₹2 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. JSW Energy Ltd paid out 16% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did JSW Energy management say on the latest results call? On the call for July to September 2026, held on 28 October 2026, JSW Energy's management guided: FY27 3 GW commissioning goal reaffirmed with balance backed by secured land, transmission, equipment and long-term agreements. > “To us, the conclusion is simple: renewables and thermal are not competing; they are complementary. > Sharad Mahendra, on the call for July to September 2026

### What management guided

- FY27 capital spending around ₹20,000 crore funded by close to ₹6,500 crore cash accruals leaving end-year net debt near ₹72,000 crore. - About 1 GWh standalone battery storage commissioning in FY27 for utility contracts in two states without coupled solar. - KSK brownfield 600 MW unit in FY28 with balance 1,200 MW in FY29 on ready common infrastructure and local equipment orders. - Salboni first 800 MW unit commissioning in 2030 with turbine orders secured for full scope and boiler placed with own facility. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/5659-28-Oct-2026.pdf). (From the call for July to September 2026, 28 October 2026.)

## What is the future of JSW Energy? What is changing in the business? The changes showing up in JSW Energy's own numbers are a bigger order book. It is too early to say whether they last. A bigger order book too early to call

JSW Energy supplies power under long contracts (power purchase agreements) signed before plants are built, so its 'order book' is contracted capacity. it is commissioning that capacity (443 MW in the September 2025 quarter, about 300 MW across the next two quarters, 873 MW in the June 2026 quarter) and guides 3 GW for FY27. Operating profit rose year on year in all four quarters: ₹2,996 crore vs ₹1,685 crore (Sep), ₹2,030 crore vs ₹914 crore (Dec), ₹2,250 crore vs ₹1,204 crore (Mar), ₹2,873 crore vs ₹2,789 crore (Jun). Why it may last: The contracts run up to 25 years, but whether the new plants earn more than their funding cost is not yet shown, return on capital of 8% sits below the 8.36% cost of debt. Profit before tax rising as the FY27 3 GW comes in would decide it. Next check: First-half FY27 additions reach the guided 1.5 GW (1.1 GW done by July) and Sep 2026 quarter operating profit beats the Sep 2025 figure of ₹2,996 crore. Quarter by quarter, 4 quarters

July to September 2025

443 MW commissioned (240 MW Kutehar hydro plus wind and solar); revenue up 60% year on year to ₹5,177 crore and operating profit up 78% to ₹2,996 crore, though part of the jump is the acquired KSK Mahanadi plant. ✓ fact

From our notes of the call for July to September 2025: We are currently building 12.5 gigawatt of generation projects, all of which are fully tied up under long power long term power purchase agreement. October to December 2025

Only 125 MW commissioned in the quarter, but new contracts kept arriving (Salboni Phase 2 1,600 MW at ₹4.06 per unit, a 400 MW 25-year Utkal, Karnataka contract). Revenue up 67% to ₹4,082 crore, operating profit up 122% to ₹2,030 crore, largely the KSK and O2 Power acquisitions. ✓ fact

From our notes of the call for October to December 2025: Locked-in capacity now stands at 32.1 GW (12.6 GW PPAs + 18.7 GW construction + 1 GW O2 Power pipeline)

January to March 2026

Execution slipped: FY26 ended at 13.45 GW against a promise of more than 15 GW, so second-half additions were about 300 MW against a reaffirmed 1.5 GW. Operating margin held at 50%; revenue rose 41% to ₹4,499 crore. ✓ fact

From our notes of the call for January to March 2026: Implying H2 FY26 additions of roughly 300 MW - an approximately 80% shortfall against the reaffirmed H2 guidance. April to June 2026

Record 873 MW commissioned (1.1 GW by July), but revenue was flat at ₹5,207 crore vs ₹5,143 crore because the acquisitions had already been in the year-ago quarter and hydro output fell 26% on weak river flows. Operating margin 55%, operating profit up 3%. ✓ fact

From our notes of the call for April to June 2026: Capacity additions reached 873 MW in Q1, taking installed capacity to approximately 14.6 GW. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the JSW Energy story? What are the risks? 4 documented guidance misses in 4 concalls; connectivity narrative reversed 180 degrees between Jan and May 2026. ### The main risks

- Management guidance credibility and execution consistency: 4 documented guidance misses in 4 concalls; connectivity narrative reversed 180 degrees between Jan and May 2026. ⚠ estimate
- Grid evacuation infrastructure bottleneck: Grid evacuation running at 63% of plan; JSW's insulation claim was contradicted by actual commissioning delays. ⚠ estimate
- Elevated leverage during peak capital spending phase: Net debt 5.0x operating profit; 20,000 Cr FY27 capital spending adds to net debt base of approximately 55,000 Cr. ⚠ estimate
- KSK UP tariff step-down FY27: 1.25/unit UP tariff cut on 1,000 MW from FY27 = approximately 1,000 Cr operating profit headwind vs FY26 KSK run-rate. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in JSW Energy's next results? When JSW Energy reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: First-half FY27 additions reach the guided 1.5 GW (1.1 GW done by July) and Sep 2026 quarter operating profit beats the Sep 2025 figure of ₹2,996 crore. | What to check | Why |
| --- | --- |
| First-half FY27 additions reach the guided 1.5 GW (1.1 GW done by July) and Sep 2026 quarter operating profit beats the Sep 2025 figure of ₹2,996 crore. | A bigger order book |
| Balance-year renewable build commissions on schedule - check operating capacity releases through March against de-risked pipeline claim. | From the call |
| Temporary-access renewable capacity converts to permanent access - check next-quarter curtailment rate versus interim elevated level. | From the call |

## Which stock lists is JSW Energy on? JSW Energy is on 2 of our India lists: Small & mid cap stocks and Power & green energy stocks. - [Small & mid cap stocks Size rank in India: 121](https://www.sectoralpha.in/small-cap-stocks-india)
- [Power & green energy stocks Group on the list: Power producers and distributors](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is JSW Energy profitable? JSW Energy Ltd earned ₹1,141 Cr of net profit in the Sep 2026 quarter, +38.5% on the same quarter a year earlier. Full-year FY26 profit was ₹2,762 Cr. Over 10 years profit has grown 6.6% a year on average. That is 17.9% of the quarter's revenue. The same quarter a year earlier earned ₹824 Cr. For the full year, FY26 profit was ₹2,762 Cr (+39.3% on the year before). Why profit moved: revenue changed +23.0% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +69.4% and revenue +33.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. revenue ₹5,207 Cr and profit ₹533 Cr as reported. FY27-Q2. revenue ₹6,368 Cr and profit ₹1,141 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does JSW Energy make, and is it growing? JSW Energy Ltd reported ₹6,368 Cr of revenue in the Sep 2026 quarter, +23.0% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 10 years it has grown 6.8% a year on average. The last full year, FY26, came in at ₹18,901 Cr. The last four reported quarters add to ₹20,156 Cr. FY26 revenue was ₹18,901 Cr, +60.9% on the year before. Recent pace: the last four quarters grew +33.2% on average, against 6.8% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +26.4%, against +32.9% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +24.4%, against +18.2% a year (accelerating). FY27-Q1. revenue ₹5,207 Cr and profit ₹533 Cr as reported. FY27-Q2. revenue ₹6,368 Cr and profit ₹1,141 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does JSW Energy keep? JSW Energy Ltd's operating margin was 57.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 31.0% and 53.0%. The latest quarter is above every full year in that period. Why this happened. KSK delivered 3,300 Cr EBITDA in FY26 at 93% PLF; FY27 base case 2,700 Cr post-UP tariff reduction of 1.25/unit on 1,000 MW, management guided cost synergies (rail efficiency, fuel logistics savings, full-year O&M benefits) to offset the pricing headwind and deliver above base case

Why the margin moved: operating margin changed −1.1 percentage points on the year while gross margin changed −1.0 points. So the drop came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. FY27-Q1. revenue ₹5,207 Cr and profit ₹533 Cr as reported. FY27-Q2. revenue ₹6,368 Cr and profit ₹1,141 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is JSW Energy's profit turning into cash? Over the last 3 years, 309% of JSW Energy Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹9,898 Cr of operating cash against ₹2,762 Cr of profit. After ₹30,737 Cr of spending on assets, free cash was −₹20,839 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 309% of profit came in as cash: the cash cycle got 20 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 10.6× depreciation over three years. The next section checks what that spending is building. ## Where does JSW Energy's cash go? JSW Energy Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 31 days in FY26, down from 51 days in FY21. It spent ₹68,653 Cr on assets over the last 3 years. Why this happened. 14 GW under-construction pipeline is 100% contracted under long-term PPAs; as each GW commissions it contributes approximately 750 Cr EBITDA at the 75 lakh/MW annual run-rate; 3 GW FY27 addition implies potential 2,250 Cr incremental EBITDA at full-year run-rate

At FY26 sales of ₹18,901 Cr, each day of that cycle ties up about ₹51.8 Cr, so roughly ₹1,605 Cr is tied up in the business at any time. Spending on assets: ₹68,653 Cr over the last 3 years, against ₹6,473 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹17,465 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is JSW Energy's P/E ratio, and how does it compare with its own history? JSW Energy Ltd's P/E is 39.1×, in the middle of its own history: higher than 63% of past readings. Its usual P/E (the middle reading) is 24.4×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +14.2% while the price moved −4.7%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +8.6% a year; about +22.4% a year came from earnings growth and about −13.8 percentage points from the multiple (the market paying less); over 10 years the price moved +23.1% a year; about +5.9% a year came from earnings growth and about +17.2 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 35% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the JSW Energy share price assume? Worked out from its price on 25 August 2026, JSW Energy Ltd's share price assumed profit growth of about 26.2% a year. Over the past 10 years its profit actually grew 6.6% a year. Today its P/E is 39.1×, higher than 63% of its own last 11 years. This is a one-day reading, taken on 25 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the JSW Energy business getting better or worse? JSW Energy Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: revenue growth has eased from +55.5% at its peak to +26.4%, but the business is still expanding, with ROCE steady at 8.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the JSW Energy story, and has it been checked? JSW Energy Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: AT PEAK. Our read, 22 August 2026. From the numbers. From the price. Price stage 4, week 4, below its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. What is not proven yet. What would change our mind. What the company does. Installed capacity reached 14.6 GW following 873 MW added in Q1 FY27 (1.1 GW YTD), backed by a 32.1 GW locked-in pipeline to achieve the 30 GW 2030 strategy goal. FY26 annual EBITDA reached 11,041 Cr as KSK Mahanadi (1.8 GW) and O2 Power (1.3 GW) scaled, but Q1 FY27 PAT declined 36.2% YoY to 533 Cr on hydro snowmelt delays and rising asset capitalization charges. Lever 2 · Value-added mix: building. JSW maintained >20% premium to exchange prices throughout FY26 via back-to-back short-term contracts even as average exchange prices sat at 3.86/unit; Q1 FY27 day-ahead prices rose 16% YoY to 5.1/unit; KSK Q4 merchant EBITDA 203 Cr validated this execution. What proves it keeps working: Merchant premium and pricing power. It stops working if If exchange prices collapse to sub-3/unit during non-peak months, the merchant premium disappears and open capacity becomes a drag. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did JSW Energy management deliver what it promised? What JSW Energy Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. KSK 600 MW commissioning moved to FY28 · 28 October 2026. In May 2026, management said the first 600 MW at KSK would be commissioned by mid of the next fiscal year. By October 2026, the 600 MW fourth unit was instead described as an FY28 commissioning, a material schedule extension with no explanation in the latest call. Curtailment resolution timeline slipped · 28 October 2026. May 2026 indicated that curtailment should be over by July 2026, and July 2026 said the 300 MW temporary-access capacity was almost certain to convert before August 31. October 2026 still reports material temporary-access exposure and only schedules conversion of 60% by the end of Q3 FY27, without explaining why the earlier resolution dates were missed. Group captive pipeline status is not reconciled · 28 October 2026. July 2026 described capacity under construction or project execution as being under PPAs and said the 2 GW group-captive portion would be closed imminently. October 2026 instead says 4.5 GW of group-company MOUs remains untied, including 2 GW that is only under advanced discussion, creating an unexplained gap in contracted visibility for a core growth pipeline. Connectivity Risk Emerged Despite Prior Insulation Claims · 22 July 2026. Management previously stated that the company was insulated from connectivity challenges and expected curtailment to end by July 2026. In the July 2026 call, 300 MW was still under T-GNA and facing curtailment, while a 400 MW Rajasthan project's connectivity moved from the end of July to September or October without an explanation for the slippage. Every quote above is taken word for word from the company’s own earnings calls. ## What is JSW Energy management's track record? Mixed, guidance unreliable, execution and capital allocation strong. ### Regulatory and governance record

Group-level CBI/Bhushan items old, not the energy entity. 13% Promoter shares pledged

(Checked 15 June 2026.)

## How much does JSW Energy earn on its capital? JSW Energy Ltd earned a ROCE of 8% in FY26. That is up from a low of 6% in FY25. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 14.6% net margin and 0.15× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 14.6% net margin × 0.15× asset turnover × 4.03× leverage (assets divided by equity) ≈ 8.8% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 35% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does JSW Energy have too much debt? JSW Energy Ltd had ₹76,946 Cr of borrowings against ₹30,751 Cr of equity in FY26, so its debt is 2.50× its equity. Its operating profit is 2 times its interest bill. Over 5 years borrowings went from ₹8,371 Cr to ₹76,946 Cr. Over the last 3 of those years it spent ₹68,653 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 35% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the JSW Energy shareholding pattern? Domestic institutions raised their stake in JSW Energy Ltd by 6.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 16.7% of the company. Foreign institutions moved −3.7 points over the same period, to 10.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +6.6 points over 8 quarters, to 16.7%; Foreign institutions: −3.7 points over 8 quarters, to 10.9%; Promoters: −2.8 points over 8 quarters, to 66.5%. Why the owners changed: foreign institutions moved −3.7 points and domestic institutions +6.6 points over 8 quarters, while promoters moved −2.8 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is JSW Energy from balance-sheet trouble? For JSW Energy Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does JSW Energy rank in its industry? 58.8 out of 100, rank 4 of 21 in Power - Generation/Distribution, with 82% of the evidence available. JSW Energy Ltd scores 58.8 out of 100 against the 21 companies it is compared with in Power - Generation/Distribution, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 23.1 + 13.6 + 7.8 + 14.3 = 58.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is JSW Energy compared with? JSW Energy ranks 4 of 21 Power - Generation/Distribution companies on the 4-Factor Sector Score, with 58.8 out of 100. 1. [ACME Solar Holdings Ltd](https://www.sectoralpha.in/stocks/acme-solar-holdings-ltd) ACMESOLAR · leader · Most evidence points up · 83% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 53.7% · Profit 57.5% · Operating margin change -1 points · 100% evidence Capital efficiency 15.6/25 · ROCE 8.9% · Operating margin 85% · 100% evidence Valuation 9.3/20 · P/E 38.1× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 48.7% · Lead over NIFTY 500 37.1% · 1 year 43.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.5 + 15.6 + 9.3 + 20 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Adani Power Ltd](https://www.sectoralpha.in/stocks/adani-power-ltd) ADANIPOWER · quiet · Most evidence points up · 100% evidence 65.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 17.2% · Profit 58.7% · Operating margin change 4 points · 100% evidence Capital efficiency 17.9/25 · ROCE 17.2% · Operating margin 42% · 100% evidence Valuation 7.9/20 · P/E 20× · PEG 1.83 · 100% evidence Relative strength 13.4/20 · Lead over its industry 17.8% · Lead over NIFTY 500 8% · 1 year 19.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 26.1 + 17.9 + 7.9 + 13.4 = 65.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Gujarat Industries Power Co Ltd](https://www.sectoralpha.in/stocks/gujarat-industries-power-co-ltd) GIPCL · breaking out · Evidence leans up · 81% evidence 59.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.6/35 · Revenue 23.7% · Profit 100% · Operating margin change 18 points · 88% evidence Capital efficiency 8.1/25 · ROCE 5.5% · Operating margin 48% · 100% evidence Valuation 11.2/20 · P/E 4.9× · PEG 2.55 · 100% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 6% · 1 year -12.5% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.6 + 8.1 + 11.2 + 12 = 59.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. JSW Energy Ltd this page JSWENERGY · quiet · Evidence leans up · 82% evidence 58.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 26.4% · Profit 24.4% · Operating margin change -1 points · 95% evidence Capital efficiency 13.6/25 · ROCE 8.2% · Operating margin 57% · 76% evidence Valuation 7.8/20 · P/E 38.9× · PEG n/a · 50% evidence Relative strength 14.3/20 · Lead over its industry 10.5% · Lead over NIFTY 500 1.6% · 1 year -5.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.1 + 13.6 + 7.8 + 14.3 = 58.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Adani Green Energy Ltd](https://www.sectoralpha.in/stocks/adani-green-energy-ltd) ADANIGREEN · turning · Evidence leans up · 75% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.4/35 · Revenue 21.2% · Profit -3.3% · Operating margin change 2 points · 95% evidence Capital efficiency 14.1/25 · ROCE 7.4% · Operating margin 89% · 76% evidence Valuation 8.7/20 · P/E 109× · PEG n/a · 15% evidence Relative strength 15.9/20 · Lead over its industry 25.5% · Lead over NIFTY 500 15.2% · 1 year 13.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.4 + 14.1 + 8.7 + 15.9 = 55.1 · What this means: Relative strength against the index is 15.2%, and revenue and profit growth are weak. 6. [NTPC Ltd](https://www.sectoralpha.in/stocks/ntpc-ltd) NTPC · quiet · Evidence leans up · 82% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 7.4% · Profit 24.8% · Operating margin change 0 points · 95% evidence Capital efficiency 14.1/25 · ROCE 8.9% · Operating margin 29% · 76% evidence Valuation 11.8/20 · P/E 10.3× · PEG n/a · 50% evidence Relative strength 12.4/20 · Lead over its industry 2.7% · Lead over NIFTY 500 -5.5% · 1 year -6.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.7 + 14.1 + 11.8 + 12.4 = 55 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [SJVN Ltd](https://www.sectoralpha.in/stocks/sjvn-ltd) SJVN · quiet · Evidence leans up · 93% evidence 54.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 99% · Profit 77.6% · Operating margin change -12 points · 100% evidence Capital efficiency 11.5/25 · ROCE 5.7% · Operating margin 71% · 100% evidence Valuation 14.8/20 · P/E 21.2× · PEG 0.29 · 65% evidence Relative strength 3.3/20 · Lead over its industry -14% · Lead over NIFTY 500 -20.9% · 1 year -39.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25 + 11.5 + 14.8 + 3.3 = 54.6 · What this means: Earnings are strong; relative strength in its sector is -14% and the one-year return is -39.4%. 8. [NTPC Green Energy Ltd](https://www.sectoralpha.in/stocks/ntpc-green-energy-ltd) NTPCGREEN · quiet · Evidence leans up · 83% evidence 52.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.7/35 · Revenue 49.3% · Profit 8.6% · Operating margin change 2 points · 100% evidence Capital efficiency 11.8/25 · ROCE 3.6% · Operating margin 88% · 100% evidence Valuation 8.8/20 · P/E 106× · PEG n/a · 15% evidence Relative strength 11.0/20 · Lead over its industry -0.7% · Lead over NIFTY 500 -8.7% · 1 year -20.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.7 + 11.8 + 8.8 + 11 = 52.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [NHPC Ltd](https://www.sectoralpha.in/stocks/nhpc-ltd) NHPC · turning · Evidence leans up · 96% evidence 51.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 12% · Profit 24% · Operating margin change 6 points · 88% evidence Capital efficiency 9.1/25 · ROCE 5.8% · Operating margin 62% · 100% evidence Valuation 4.3/20 · P/E 20.6× · PEG 3.32 · 100% evidence Relative strength 17.7/20 · Lead over its industry 14.3% · Lead over NIFTY 500 5.4% · 1 year -8.4% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.8 + 9.1 + 4.3 + 17.7 = 51.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [KPI Green Energy Ltd](https://www.sectoralpha.in/stocks/kpi-green-energy-ltd) KPIGREEN · quiet · Evidence leans up · 78% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.9/35 · Revenue 40% · Profit 33.2% · Operating margin change 1 points · 83% evidence Capital efficiency 17.1/25 · ROCE 13.7% · Operating margin 35% · 76% evidence Valuation 13.4/20 · P/E 12× · PEG n/a · 50% evidence Relative strength 1.1/20 · Lead over its industry -19.1% · Lead over NIFTY 500 -25.7% · 1 year -48.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.9 + 17.1 + 13.4 + 1.1 = 51.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Jaiprakash Power Ventures Ltd](https://www.sectoralpha.in/stocks/jaiprakash-power-ventures-ltd) JPPOWER · quiet · Evidence leans down · 78% evidence 48.6 out of 100 Growth Capital Valuation Relative
12. [RattanIndia Power Ltd](https://www.sectoralpha.in/stocks/rattanindia-power-ltd) RTNPOWER · basing · Evidence leans down · 66% evidence 44.9 out of 100 Growth Capital Valuation Relative
13. [CESC Ltd](https://www.sectoralpha.in/stocks/cesc-ltd) CESC · quiet · Evidence leans down · 78% evidence 44.7 out of 100 Growth Capital Valuation Relative
14. [Orient Green Power Company Ltd](https://www.sectoralpha.in/stocks/orient-green-power-company-ltd) GREENPOWER · basing · Evidence leans down · 71% evidence 44.5 out of 100 Growth Capital Valuation Relative
15. [Tata Power Company Ltd](https://www.sectoralpha.in/stocks/tata-power-company-ltd) TATAPOWER · quiet · Evidence leans down · 96% evidence 43.9 out of 100 Growth Capital Valuation Relative
16. [NLC India Ltd](https://www.sectoralpha.in/stocks/nlc-india-ltd) NLCINDIA · quiet · Evidence leans down · 78% evidence 42.2 out of 100 Growth Capital Valuation Relative
17. [Torrent Power Ltd](https://www.sectoralpha.in/stocks/torrent-power-ltd) TORNTPOWER · quiet · Evidence leans down · 78% evidence 39.8 out of 100 Growth Capital Valuation Relative
18. [India Power Corporation Ltd](https://www.sectoralpha.in/stocks/india-power-corporation-ltd) DPSCLTD · quiet · Evidence leans down · 81% evidence 38.4 out of 100 Growth Capital Valuation Relative
19. [Reliance Power Ltd](https://www.sectoralpha.in/stocks/reliance-power-ltd) RPOWER · basing · Most evidence points down · 64% evidence 28.8 out of 100 Growth Capital Valuation Relative
20. [BF Utilities Ltd](https://www.sectoralpha.in/stocks/bf-utilities-ltd) BFUTILITIE · quiet · Too little evidence to rank firmly · 53% evidence 27.2 out of 100 Growth Capital Valuation Relative
21. [Mac Charles (India) Ltd](https://www.sectoralpha.in/stocks/mac-charles-indialtd) Too little evidence to rank firmly · 32% evidence 52.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Power - Generation/Distribution](https://www.sectoralpha.in/sectors/power-generation-distribution), all 21 compared on one page. ## Which companies are close to JSW Energy in size? JSW Energy is the 5th largest of 21 Power - Generation/Distribution companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: NTPC, Adani Green Energy and Tata Power Company. Just below it: NHPC, NTPC Green Energy and Torrent Power. ### Power - Generation/Distribution companies close in size

1. [NTPC Ltd](https://www.sectoralpha.in/stocks/ntpc-ltd) ₹3,06,657 crore
2. [Adani Green Energy Ltd](https://www.sectoralpha.in/stocks/adani-green-energy-ltd) ₹2,13,919 crore
3. [Tata Power Company Ltd](https://www.sectoralpha.in/stocks/tata-power-company-ltd) ₹1,10,255 crore
4. JSW Energy Ltd ₹91,738 crore
5. [NHPC Ltd](https://www.sectoralpha.in/stocks/nhpc-ltd) ₹78,090 crore
6. [NTPC Green Energy Ltd](https://www.sectoralpha.in/stocks/ntpc-green-energy-ltd) ₹69,467 crore
7. [Torrent Power Ltd](https://www.sectoralpha.in/stocks/torrent-power-ltd) ₹59,103 crore

[All 21 Power - Generation/Distribution companies, largest first](https://www.sectoralpha.in/sectors/power-generation-distribution#all-companies)

### Companies close in size in other industries

1. [GMR Airports Ltd](https://www.sectoralpha.in/stocks/gmr-airports-ltd) ₹92,665 crore · Miscellaneous
2. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) ₹91,962 crore · Pharma - Formulators
3. JSW Energy Ltd ₹91,738 crore
4. [Coforge Ltd](https://www.sectoralpha.in/stocks/coforge-ltd) ₹90,606 crore · IT - Software
5. [Manipal Health Enterprises Ltd](https://www.sectoralpha.in/stocks/manipal-health-enterprises-ltd) ₹88,018 crore · Hospitals

## What else do people ask about JSW Energy? ### What is JSW Energy's share price today? JSW Energy Ltd's share price is ₹502.60, −4.7% over the past year. The whole company is worth ₹92,215 Cr on the market. In the last 52 weeks it traded between ₹441 to ₹595; today it is 40% of the way up from the low, 3.9% below its 200-day average (as of 3 November 2026). ### What were JSW Energy's latest quarterly results? JSW Energy Ltd reported revenue of ₹6,368 Cr and net profit of ₹1,141 Cr for the Sep 2026 quarter. Revenue rose 23.0% and profit rose 38.5% compared with a year earlier. Earnings per share were ₹5.76. The operating margin was 57.0%, 1.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is JSW Energy's market cap? JSW Energy Ltd's market capitalisation is ₹92,215 Cr at a share price of ₹502.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is JSW Energy performing? JSW Energy Ltd's share price has been falling for 4 weeks. In its latest quarter, revenue rose 23.0% and profit rose 38.5% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 19 weeks running (as of 3 November 2026). ### Will JSW Energy's share price go up? This page does not forecast JSW Energy Ltd's share price. What it shows instead: the share price is ₹502.60, and it has been falling for 4 weeks. Its P/E of 39.1× is higher than 63% of its own last 11 years (as of 3 November 2026). ### Where is JSW Energy in its business cycle? JSW Energy Ltd's FY26 operating margin was 53.0%, against a 13-year range of 31.0% to 53.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 57.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the JSW Energy story? The main question: promoters moved −2.8 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is JSW Energy a stock worth studying right now? What the numbers show: JSW Energy Ltd's earnings have grown faster than its share price. Earnings per share grew +14.2% in a year while the price moved −4.7%. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a JSW Energy share price forecast for 2026? What management itself guided: FY27 3 GW commissioning goal reaffirmed with balance backed by secured land, transmission, equipment and long-term agreements. The changes showing up in JSW Energy's own numbers are a bigger order book. It is too early to say whether they last. What would change the story: 4 documented guidance misses in 4 concalls; connectivity narrative reversed 180 degrees between Jan and May 2026. ### Where does this page get JSW Energy's management information? From JSW Energy's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

This is research, not advice. We’re not SEBI-registered.