JSW Energy shares tumble 9% after Q3 results; check breakdown here

Shares of JSW Energy Ltd. tumbled over 9 per cent on Tuesday even as the company reported over 2 fold jump year-on-year (Y-o-Y) jump in net profit for the third quarter of the current financial year (Q3-FY26).

 

The power generation company's stock fell as much as 9.3 per cent during the day to ₹432.8 per share, the biggest intraday fall since January 29, 2025. The stock pared losses to trade 7 per cent lower at ₹444 apiece, compared to a 0.34 per cent advance in Nifty 50 as of 10:04 AM. 

 

Shares of the company fell for the second straight session and currently trade at 16 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 8 per cent this year, compared to a 3.8 per cent decline in the benchmark Nifty 50. JSW Energy has a total market capitalisation of ₹77,828.13 crore. 

 

JSW Energy Q3 results 

JSW Energy reported a 150.22 per cent Y-o-Y jump in net profit to ₹419.94 crore for the quarter ended December 2025, compared with ₹167.83 crore a year earlier. Revenue rose 67.36 per cent to ₹4,081.76 crore from ₹2,438.88 crore in the corresponding period.

 

Overall power generation in Q3FY26 declined 1.2 per cent year on year to 422 billion units, weighed down by subdued thermal generation. All-India power demand also slipped 0.1 per cent year on year to 392 billion units, impacted by an extended monsoon and cooler temperatures.  ALSO READ | Q3 Results Today

Analysts on JSW Energy earnings 

Motilal Oswalsaid it has cut its adjusted profit after tax (PAT) estimates for FY26 and FY27 to factor in higher depreciation and interest costs linked to ongoing asset capitalisation. 

 

While Ebitda estimates remain broadly in line with consensus, the brokerage expects the Street’s profit after tax (minority interest) estimates to see a nearly 20 per cent downgrade in FY27. Motilal Oswal reiterated its Buy rating with a target price of ₹590.

 

Antique Stock Broking said earnings visibility continues to improve, with merchant exposure expected to fall below 5 per cent from April 2026 following new power purchase agreements, including Utkal’s 400 megawatt tie-up.

 

The brokerage noted that execution risks are mitigated through supply-chain integration and state transmission utility-led connectivity. With a locked-in 32.1 gigawatt project pipeline supporting scale-up to 30 gigawatts by 2030 and visible Ebitda compounding under Strategy 3.0, Antique upgraded the stock to 'Buy' from 'Hold'.

 

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