JSW Energy shares jump nearly 6% after Q4 results. Here’s what brokerages say

Shares of JSW Energy surged 5.8% today on BSE to the day’s high of Rs 618 after brokerages raised target prices on the stock following Q4 results.

The company reported a 22% YoY jump in March quarter profit to Rs 345 crore.

JSW Energy reported its Q4 results on Tuesday, in which the revenue from operations for the said quarter stood at Rs 2,756 crore versus Rs 2,670 crore in the year-ago period, clocking a 3% YoY rise.


One of India's leading power companies, JSW Energy achieved its highest-ever EBITDA of Rs 5,837 crore for FY24, up 53% YoY. For Q4FY24, EBITDA surged 47% YoY to Rs 1,292 crore resulting in a 29% YoY increase.

Here’s a look at what brokerages said on the stock:

Jefferies
The profitability improvement for the acquired portfolio is underway. The company plans to reach a 20 GW capacity target by FY30E. It forecasts a 33% EPS CAGR in FY24-27.

Jefferies maintained a buy rating on JSW Energy but raised the target price to Rs 690 from Rs 600 earlier.

JM Financial
JM Financial said that it believes that JSW is right on track to achieve its target of 10GW/20GW RE capacity by 2025/2030 as the company added/secured greenfield RE capacity of 681MW/3.4GW during FY24 taking RE locked-in capacity to 13.2 GW along with SECI’s 250MW/500MWh BESS project.

The brokerage has maintained its ‘buy’ rating while increasing the target price to Rs 648 from Rs 555 earlier.

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