Q4 2024 JSW Energy Ltd Earnings Call Transcript
Key Points
- JSW Energy Ltd (BOM:533148) reported the highest ever adjusted EBITDA and PAT, driven by renewable energy (RE) capacity additions and strong thermal performance.
- The company saw a significant increase in overall net generation, which rose by 27% year-on-year.
- JSW Energy Ltd (BOM:533148) successfully completed a QIP, raising substantial funds to support future growth.
- The company has a robust pipeline with a total capacity of 13.2 gigawatts, including work in progress, commissioned capacity, and order book.
- JSW Energy Ltd (BOM:533148) has been successful in turning around the performance of acquired assets, such as the Mytrah asset, which saw a 12% increase in generation within one year of acquisition.
- Hydrology has not been favorable, leading to a 17% decline in large hydro generation in FY24.
- The average tariff in the merchant market was lower at INR5.24 compared to INR5.94 in the previous year.
- The company's net debt-to-EBITDA ratio, excluding CWIP, stands at 2.9x, indicating a significant level of debt.
- There are challenges related to the stabilization of new units, such as the Ind-Barath project, which initially faced higher O&M costs.
- The company faces potential risks from regulatory changes, such as the recent CERC paper that proposes capping tariffs for merchant power.
Ladies and gentlemen, good day, and welcome to JSW Energy Q4 FY24 earnings conference call hosted by JM Financial. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Sudhanshu Bansal from JM Financial. Thank you, and over to you, Mr. Bansal.
Thank you, Nirav. Good evening, everybody. On behalf of JM Financial, I welcome you all to the conference call of JSW Energy to discuss the fourth quarter and FY24 results. We have with us the leadership team from the company, including Mr. Sharad Mahendra, Joint MD and CEO; Mr. Pritesh Vinay, Director, Finance and CFO; Mr. Bikash Chowdhury, Head Investor Relations and Treasury. Thank you so much, sir, for your time presence and giving JM Financial the opportunity to host the call. With this, I would like to hand over the call to Mr. Mahendra for opening remarks and taking the call forward. Over to you, sir.
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