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JSW Energy: Recovery backed by improving fundamentals

Improving fundamentals and low valuations make JSW Energy a compelling case of rerating

April 05, 2021 / 04:57 PM IST
JSW Energy: Recovery backed by improving fundamentals

JSW Energy | CARE reaffirmed its ratings on subsidiaries of the company - JSW Power Trading Company at 'A2+', and Jaigad PowerTransco at 'A+/Stable & 'A1+'

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Recovery in demand leads to sequential growth - Merchant power remains weak spot - Expect strong recovery in second half of current fiscal - Strong balance sheet supports low debt and surplus cash in the books - Valuation remains reasonable offering good dividend yield  JSW Energy’s (CMP: Rs 70; Mcap: Rs 11,606 crore) share price has seen a spike from the lows of March this year. We had recommended the stock at around Rs 46 a share in August this year, on the premise that it was...

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