Mumbai: JSW Energy Limited Friday reported its results for the fourth quarter of FY 21 and the financial year, ended March 31, 2021.
Key Highlights of Q4FY21 (Consolidated):
Operational:
• Long Term (LT) Net Generation: Higher by 3% in both Q4 and FY21
• LT Net Thermal Generation: Higher by 5% in Q4 and 8% in FY21
• LT PPA at Ratnagiri plant increased by 179 MW in May’21, further de-risking the portfolio; Ratnagiri LT PPA tie-up now at 96%
• 86% of overall portfolio under LT PPA as on date vs 81% at FY20-end
• Central Electricity Authority approved uprating of Karcham Wangtoo capacity by 91 MW to 1091 MW, in a phased manner
Consolidated Financial:
• EBITDA: 677 Crore in Q4;3,144 Crore in FY21
• Profit Before Tax: 126 Crore in Q4;1,081 Crore in FY21
• Profit After Tax at 107 Crore in Q4;795 Crore in FY21
• Receivables declined 23% QoQ and 38% YoY – Lowest outstanding in last 3 years
• Net Debt reduced by 513 Crore in Q4 and by2,739 Crore in FY21 – one of the strongest balance sheets in the power sector in India
– Net Debt to Equity at 0.43x
– Net Debt to EBITDA (TTM) at 1.97x
– Strong Liquidity: Cash & Cash Equivalents at 2,137 Crore • JSW Hydro Energy Ltd issued USD 707 million, 10 year green bonds for refinancing of term loans • The Board has recommended a dividend of2/ equity share subject to approval of the Shareholders
Update on Growth Strategy:
• JSW Energy is pursuing a growth strategy to expand from 4.6 GW to 10 GW by FY25, and 20 GW by FY30, with entire capacity addition being via Renewables
• 2.5 GW is currently under construction:
– SECI IX – 810 MW: PPA signed for 540 MW with SECI; Balance 270 MW PPA
to be signed in Q2FY22
– SECI X – 450 MW Wind Project: PPA to be signed in Q2FY22
– Solar/Wind Group Captive with JSW Steel: 958 MW approved by the
board, PPA to be signed in Q2FY22
– 240 MW Kutehr HEP: PPA under finalization with Haryana discom
ESG:
• Amongst the first companies globally to endorse Global Framework Principles for Decarbonizing Heavy Industry
• Specific GHG emissions declined 11% YoY in FY21
• 100% Utilisation of Fly Ash and Zero Liquid Discharge maintained in FY21
Awards and Recognitions:
• JSW Energy (Barmer) Limited:
– Achieved Five-star grading in the British Safety Council’s Occupational
Health and Safety Audit
– Awarded ‘National Efficiency Awards 2021’ for Best Energy Efficient Plant-
Lignite by Mission Energy Foundation
• Ratnagiri plant awarded ‘The Best Operating Thermal Power Generator’ by Independent Power Producers Association of India (IPPAI)
