Tag Power Sector

Adani Power Ltd
Adani Power Stock Jumps 9% in Two Sessions – Is It the Right Time to Invest?

Business and Industry Overview: 

Adani Power (APL) is the biggest private company that makes electricity in India. They have power plants in many states like Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand. They also have a small solar power project in Gujarat. APL started making electricity in 2006 and was the first company to use special technology to make electricity from coal in a clean way. APL can make 15,250 MW of electricity. They have plants that use good technology to make power, and they can make electricity when people need it the most. They sell electricity to state companies and big businesses through long-term agreements. They also sell some electricity in the open market. APL is building new power plants to make even more electricity in the future. They want to increase their total power to 30,670 MW by 2032. In the last few years, they have faced some challenges, but they have used smart solutions to keep their business strong. They are spending a lot of money to improve their power plants and use new technology. APL cares about the environment and has received awards for their good work. They have a good score for taking care of the environment and being responsible. Recently, they won important legal cases that will help them get more money. APL is committed to growing while being good to the planet. 

Thermal power is the biggest way India makes electricity. It gives about 71% of the power. Thermal power plants use fuels like coal, diesel, gas, and natural gas to create steam. This steam helps make electricity. As of August 2024, India can make 242.99 GW of power from these plants. Coal is very important. It makes up about 46.2% of all the power. 

Some big power projects are in states like Jharkhand, Madhya Pradesh, Andhra Pradesh, Gujarat, Maharashtra, and Odisha. The thermal power sector is expected to grow because the government wants to make more coal and improve technology to reduce pollution. They plan to increase clean energy to 500,000 MW by 2031-32. They also want to grow renewable energy sources like wind and solar power. 

India started using thermal power in 1920 with the first plant in Hyderabad. Today, most electricity comes from thermal, nuclear, and renewable sources. Coal is still the main source and makes up about 75% of all electricity. In December 2020, India made 103.66 billion units of power, according to the Central Electricity Authority. 

Adani Power Limited is the largest private thermal power producer in India with an installed capacity of 15,250 MW. 

Latest Stock News: 

Adani Power’s stock price has gone up and down. In the last six months, it went down by 23%. In one year, it went down by 12%. But in two years, it went up by 260%. This week, the stock price went up by 9% in two days. On Thursday, it reached ₹512.30. Experts say if the price stays above ₹510, it may go up more, maybe to ₹589. Many people are buying the stock. The number of shares traded was 4 times more than usual. This is a good sign.  The stock price went up after Adani Power got permission to buy Vidarbha Industries Power Ltd (VIPL). VIPL makes electricity and belongs to Reliance Power. VIPL has money problems, so Adani Power will take over. Adani Power has also bought three other power companies before this.  Adani Group will also spend ₹1.1 trillion in Madhya Pradesh and ₹50,000 crore in Assam. They will build power plants, cement factories, mines, smart meters, roads, airports, and more. 

Potentials: 

Adani Power’s stock may go up by 30–54.5% in the future. The company is growing and making more electricity. It will increase its power capacity from 17.6 GW to 30.7 GW by 2030. It has land and money ready for this. Adani Power has long-term deals to sell electricity and buy fuel, which makes its business strong. More people in India are using gadgets, and factories need more power, so demand for electricity is increasing. Adani Power can help fill this gap. Experts say its profits will grow 10% every year from 2024 to 2027, and after 2027, when new power plants start working, profits may grow 19% every year. But there are some risks. It had old problems with power sale agreements, and sometimes payments get delayed. If demand is lower than expected, growth may slow down, but stock will yield a higher return. 

Analyst Insights:  

Market capitalisation: ₹ 1,87,428 Cr. 
Current Price: ₹ 486 
52-Week High/Low:₹ 897 / 431 
P/E Ratio: 14.6 
Dividend Yield:0.00 % 
Return on Capital Employed (ROCE):32.2 % 
Return on Equity (ROE): 57.1 % 

Adani Power is growing fast and making more money. In the last five years, its profit went up by 88.5% every year. It is good at using money and getting high returns. In the last three years, it had a return of 47.8%. The company is getting paid faster by customers, from 106 days to 84.6 days. Even though it makes a lot of profit, it does not give money to investors as dividends. In the last three months, its profit went up by 7.4% to ₹2,940.07 crore, and its total money earned grew by 5.2% to ₹13,671.18 crore. It made 8% more money before costs, and its profit margin got better, from 35.8% to 36.7%. It also sold 8% more electricity, reaching 23.3 billion units. The company plans to get ₹5,000 crore from investors and ₹11,000 crore through special loans. The CEO said the company wants to make over 30 GW of electricity by 2030. After sharing this good news, the stock price went up by 4.78% to ₹520.95. 

Adani Power makes electricity. Its stock price is ₹486 now. Last year, the highest price was ₹897. The company is making good money and growing fast in the last five years. It is good at using money wisely. This year, the company made more money and more profit than last year. It is selling more electricity too. Adani Power wants to grow more. It will get more money from investors. It wants to make over 30 GW of electricity by 2030. The stock price went up after the good news. But the company does not give money to investors as dividends. It also has a lot of debt and is borrowing more money. This stock is good for people who want to invest for a long time and can take risks. But it is not good for people who want regular income. 

BHEL Ltd
BHEL Stock Analysis: Crashed 5% to 52-Week Low on February 18- Reasons, Risks & Buying Opportunity

1. Business and Industry Overview: 

Bharat Heavy Electricals Limited (BHEL) is India’s largest engineering and manufacturing enterprise of the Government of India in the energy and infrastructure sectors. It is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing companies in India in terms of turnover, ushering in the indigenous heavy electrical equipment industry in India—a dream that has been more than realized with a well-recognized track record of performance. It was established in 1964. It has played a vital role in the nation’s industrial development, offering a comprehensive portfolio that includes power generation equipment, transmission systems, transportation solutions, defense and aerospace components, and oil and gas sector products. The company’s operations include thermal, hydro, gas, nuclear, and solar photovoltaic power projects, reflecting its diversified expertise. It has been given the status of Maharatna, which means it has more autonomy and authority to operate independently and make investments. 

BHEL has a dominant position in the power equipment manufacturing industry in India, accounting for 55% of India’s total installed power generation capacity. The company has been actively involved in India’s nuclear program since 1976, supplying critical components like reactor headers and steam generators. Presently, BHEL has 16 manufacturing divisions, 02 repair units, 04 regional offices, 08 service centers, and 15 regional centers and currently operates at more than 150 project sites across India and abroad. Its global footprint extends to over 76 countries, with an overseas installed capacity exceeding 9,000 MW across 21 countries, including Malaysia, Oman, Iraq, UAE, Bhutan, Egypt, and New Zealand. 

The industry is currently experiencing a surge in demand for power equipment, driven by record-high electricity generation during peak periods. As India is marching towards a 5 trillion economy, there is a huge demand in the manufacturing industry. However, manufacturers like BHEL face challenges due to rising expenses, particularly in raw materials and services. Despite these challenges, the company has a strong market position and a diversified portfolio that provides resilience against competitive pressures. 

2. Latest Stock News: 

In the second quarter ending September 30, 2024, BHEL reported a net profit of ₹966.7 million, a significant turnaround from a loss of ₹583 million in the same period the previous year. This positive performance was attributed to a 28.5% increase in revenue from operations, totaling ₹65.84 billion, with the power segment contributing over 75% of the total revenue. However, the first quarter of 2024 saw a net loss of ₹2.13 billion, primarily due to a 9% rise in expenses, underscoring the volatility in operational costs.  

The company stock fell 5.1% on February 18 after its Ranipet unit received arbitration claims of ₹30.78 crore from two companies, Ducon Technologies Inc. (USA) and Ducon Infratechnologies Ltd (India). These companies are seeking payments from BHEL’s Boiler Auxiliaries Plant in Ranipet, Tamil Nadu. The case is being handled by the Indian Council of Arbitration (ICA), and BHEL is defending itself. Following this news, BHEL’s stock hit a low of ₹183.6 on the BSE and was down 4.3% at ₹185.2 in the afternoon. The stock has dropped 14% in the past month and 20% since the start of 2025. Despite this, BHEL reported strong financial results for Q3 FY25, with a 170% rise in net profit (₹7,277 crore), a 32% increase in revenue, and a 40% jump in EBITDA (₹304 crore). However, the legal dispute and market concerns have impacted the stock price. 

3. Potentials: 

In 2023, BHEL and NPCIL signed an agreement to work together on nuclear power projects using Pressurized Heavy Water Reactor (PHWR) technology. BHEL has been involved in all three stages of India’s nuclear program. 

In May 2023, BHEL announced that Indian Railways had set ambitious goals for upgrading its signaling system. As technology improves, BHEL will contribute to modernizing railway signals to support this transformation. 

BHEL was chosen to build a 1,340 MW coal power plant in Rampal, Bangladesh, near the Sundarbans mangrove forest. The project is run by Bangladesh-India Friendship Power Company, a joint venture between NTPC Limited and Bangladesh Power Development Board. 

However, the project has faced criticism for its environmental impact and the risk it poses to the Sundarbans, the world’s largest mangrove forest. In 2017, Norway’s sovereign wealth fund stopped investing in BHEL due to concerns about this project. 

4. Analyst Insights: 

The company pays a decent dividend, distributing 27.8% of its profits to shareholders. The stock is priced higher than its actual assets, trading at 2.91 times its book value. The company struggles to cover its interest expenses, meaning it may have financial stress. Sales have declined by 4.73% over the last five years, showing weak business growth. Profitability is low, with a return on equity of just 1.77% over the past three years. A significant portion of earnings (₹535 crore) comes from other income, not core business operations. Customers are taking longer to pay, with debtor days increasing from 58 to 73.1 days. The company takes more time to convert resources into cash, as working capital days increased from 119 to 194 days. 

Key Financial Metrics: 

Revenue ₹7,277 crore,  
EBITDA ₹304 crore,  
Market Cap ₹69,276 crore,  
PE Ratio 133 (very high). 

SJVN Ltd
SJVN Ltd Q3 Results: Net Profit Up 7%, Revenue Growth & Interim Dividend Declared

Business and Industry Overview: 

SJVN Limited is a Nava Ratna, Category-I, and Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the Ministry of Power, Government of India, incorporated on May 24, 1988, as a joint venture between the Government of India and the Government of Himachal Pradesh. The company has a shareholder pattern of 64.46% from the Government of India, 25.51% from the Government of Himachal Pradesh, and 10.03% from the public, with a paid-up capital of Rs. 4,136.63 Crore and an authorized capital of Rs. 7,000 Crore. SJVN was conferred with Navratna status on August 30, 2024. Initially starting with the Nathpa Jhakri Hydro Power Station (1500 MW) in Himachal Pradesh, SJVN has since commissioned a total of 14 projects, amounting to 2467 MW of installed capacity. The company is currently implementing power projects across various states in India, including Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram, and Madhya Pradesh, as well as in Nepal. A significant milestone includes the commissioning of the 400 kV double circuit Indo-Nepal Cross Border Power Transmission corridor on February 19, 2016, along with ongoing work on a 217 km long transmission line from Arun-3 HEP to the Indo-Nepal border. 

Latest Stock News: 

SJVN Ltd, a hydropower public sector unit, reported a 7% increase in consolidated net profit, reaching Rs 148.75 crore for the December quarter. This rise is attributed to higher revenues, as the company posted a net profit of Rs 138.97 crore during the same period last year, according to a filing with the Bombay Stock Exchange (BSE).  

Total income for the quarter rose to Rs 760.76 crore, up from Rs 607.72 crore in the previous year.  

The board of directors has also approved an interim dividend of Rs 1.15 per equity share for the 2024-25 financial year. The record date for the interim dividend is February 21, 2025, and dividend payments will commence from March 6, 2025, onwards. 

Currently, the company’s shares are trading 2.60% lower at Rs 90.22, with a dividend yield of 1.99%. 

Segmental information:

1. Electricity Generation: 

Hydroelectric Power: SJVN’s core competency lies in hydroelectric power generation. The company operates significant projects, including the 1,500 MW Nathpa Jhakri Hydro Power Station and the 412 MW Rampur Hydro Power Station, both located in Himachal Pradesh. These facilities harness river water to produce renewable energy. citeturn0search12 

Wind Power: Expanding into wind energy, SJVN has commissioned projects like the 47.6 MW Khirvire Wind Power Project in Maharashtra and the 50 MW Sadla Wind Power Project in Gujarat. These installations utilize wind resources to generate electricity. citeturn0search0 

Solar Power: SJVN has ventured into solar energy with projects such as the 75 MW Parasan Solar Power Project in Uttar Pradesh and the 5.6 MW Charanka Solar Power Project in Gujarat. These solar installations contribute to the company’s renewable energy portfolio. citeturn0search12 

2. Consultancy Services: Leveraging its expertise in power generation, SJVN offers consultancy services encompassing project planning, feasibility studies, engineering, procurement, construction management, and operational support. These services cater to other entities in the power sector, facilitating the development of energy projects.  

3. Power Transmission: SJVN is involved in the transmission of electricity, ensuring efficient delivery from generation sites to distribution networks. This includes the construction, operation, and maintenance of transmission lines and substations, playing a crucial role in the power supply chain. citeturn0search1 

4. Power Trading:To optimize its energy portfolio, SJVN engages in power trading activities. This involves the buying and selling of electricity, allowing the company to respond to market dynamics, balance supply and demand, and enhance revenue generation. citeturn0search1 

5. Project Development and Execution: Beyond operating existing facilities, SJVN is actively involved in developing new power projects. This includes identifying potential sites, securing necessary approvals, and overseeing the construction and commissioning of new power plants across various energy sectors.  

Subsidiary Information:

SJVN Arun-3 Power Development Company Pvt. Ltd. (SAPDC) : A wholly owned subsidiary established in Nepal for the implementation of the 900 MW Arun-3 Project and its associated transmission system. 

SJVN Lower Arun Power Development Company Private Limited (SLPDC) : A fully owned subsidiary created for the development of the 669 MW Lower Arun Hydro Electric Project (HEP) in Nepal. 

 SJVN Thermal Private Limited (STPL) : A wholly owned subsidiary formed for the execution of the 1320 MW Buxar Thermal Power Project in Bihar. 

SJVN Green Energy Limited (SGEL) : A fully owned subsidiary established to focus on capacity additions in new and renewable energy sources. 

Joint Ventures  

Cross Border Power Transmission Company Limited (CPTC) : A joint venture among IEDCL, Power Grid, SJVN, and NEA with equity participation of 38%, 26%, 26%, and 10%, respectively. This venture aims to construct and maintain an 86 km long, 400 kV double circuit (D/C) transmission line from Sursund on the India-Nepal border to Muzaffarpur. 

Q3 Highlights:

  • SJVN Ltd Q3 results: Net profit rises by 7% to Rs 149 crore on higher revenue 
  • The board of directors has also approved an interim dividend of Rs 1.15 per equity share for 2024-25. 
  • SJVN Ltd Q3 results Net profit rises by 7 to Rs 149 crore on higher revenue 
  • The board of directors approved an interim dividend of Rs 1.15 per equity share for the 2024-25 financial year. 

Financial Summary:

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 543.00 671.00 2,938 2,579 
Expenses 175 214 665 737 
EBITDA 368 457 2,273.00 1,843.00 
OPM 68% 68% 77% 71% 
Other Income 49 91 310 380 
Net Profit 139.00 149.00 1,359 911 
NPM 25.60 22.21 46.26 35.32 
EPS 0.35 0.38 3.46 2.32 
NHPC Ltd
NHPC Ltd Q3 Results: Net Profit Falls 53% to ₹231 Cr, Dividend Declared

NHPC Ltd: Business and Industry Overview 

NHPC Ltd, formerly known as National Hydroelectric Power Corporation, is India’s leading hydropower company and a key player in the renewable energy sector. Established in 1975, NHPC is a Government of India enterprise under the Ministry of Power, responsible for planning, promoting, and developing hydroelectric power projects across the country. Over the years, the company has diversified into other renewable energy segments, including solar and wind power, aligning with India’s vision of achieving carbon neutrality and increasing the share of green energy in the overall power mix. NHPC is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) and has a strong presence across various states, particularly in regions with abundant hydro resources such as the Himalayas and the Northeastern states. The Indian power sector is witnessing a major transition, with a growing emphasis on renewable energy sources to reduce dependence on fossil fuels. The government has set ambitious targets for renewable energy generation, including achieving 500 GW of non-fossil fuel capacity by 2030, of which a significant portion is expected to come from hydropower. Hydropower remains a crucial component of India’s energy mix due to its ability to provide baseload power, grid stability, and energy storage through pumped storage plants. However, the sector faces challenges such as lengthy environmental clearances, displacement issues, and geological risks. Despite these challenges, NHPC continues to expand its portfolio, driven by policy support, favourable tariffs, and growing demand for sustainable energy solutions. 

Latest Stock News 

NHPC has declared an interim dividend of 14% on each stock with a face value of ₹10, translating into a payout of ₹1.40 per share. The company has also set February 13 as the record date for the dividend payment, as per an exchange filing. The announcement was made after market hours, with NHPC’s shares closing at ₹77.43 on the BSE, down by ₹0.22 or 0.28%. In addition to its financial performance, NHPC has signed a Memorandum of Understanding (MoU) with the Bihar government to invest ₹5,500 crore in solar energy and green hydrogen initiatives. The company plans to develop a 1,000 MW solar power project along with a green hydrogen mobility pilot project in Bihar, as announced during the Bihar Business Connect 2024 summit. As one of India’s leading renewable energy producers, NHPC currently operates 7 GW of hydropower capacity, with an additional 9.3 GW under construction. In Bihar, NHPC intends to establish a small solar power plant dedicated to producing green hydrogen, which will be used to fuel passenger buses. Green hydrogen, a sustainable energy source with zero carbon emissions, is generated through electrolysis powered by renewable energy. NHPC will finance hydrogen-powered buses and transfer them to the state government, furthering its commitment to promoting clean energy and sustainability in the region. 

Business Segments 

  • Hydropower Generation: Hydropower generation is NHPC’s core business, accounting for the majority of its revenue. The company currently operates an installed capacity of over 7,097 MW across multiple states, with projects ranging from run-of-the-river schemes to large reservoir-based hydro plants. NHPC plays a critical role in stabilizing the national grid by providing flexible power supply, which complements the intermittent nature of solar and wind energy. The company’s hydropower plants not only generate electricity but also contribute to flood control, irrigation, and water conservation 
  • Renewable Energy: The Company has commissioned several solar power projects across India and is actively participating in government-led solar tenders to expand its capacity. NHPC has also entered into joint ventures with state governments and private players to develop large-scale solar parks. In 2024, NHPC secured multiple solar power projects under the Renewable Energy Implementation Scheme, further solidifying its presence in the non-hydro renewable segment. 
  • Power Trading & Consultancy Services: NHPC is actively involved in power trading, supplying electricity generated from its projects to various state electricity boards and distribution companies through long-term power purchase agreements (PPAs). The company benefits from favourable tariff structures and a cost-plus model, which ensures stable cash flows. 
  • Pumped Storage & Energy Storage Solutions: NHPC is developing pumped storage projects that function as large-scale batteries. These plants store excess energy by pumping water to higher altitudes during periods of low demand and release it to generate electricity when demand peaks. The company has identified multiple sites across India for pumped storage development, positioning itself as a key player in the emerging energy storage market. 

Subsidiary Information 

  • Loktak Downstream Hydroelectric Corporation Limited: Loktak Downstream Hydroelectric Corporation Limited is a subsidiary of NHPC responsible for developing the 66 MW Loktak Downstream Hydroelectric Project in Manipur. This project aims to utilize the water released from the existing Loktak Power Station to generate additional electricity, enhancing energy availability in the Northeastern region. 
  • NHDC Limited: NHDC Limited is a joint venture between NHPC (51% stake) and the Government of Madhya Pradesh (49%), focusing on hydropower development in Madhya Pradesh. The company operates the Indira Sagar Hydroelectric Project (1,000 MW) and the Omkareshwar Hydroelectric Project (520 MW), which are vital for power supply in central India. NHDC plays a crucial role in supporting regional energy security and grid stability. 
  • Bundelkhand Saur Urja Limited: Bundelkhand Saur Urja Limited is a special-purpose vehicle (SPV) set up by NHPC and the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) to develop solar energy projects in Uttar Pradesh. BSUL focuses on setting up large-scale solar parks in the Bundelkhand region to enhance solar power generation capacity and support India’s renewable energy transition. 
  • NHPC Renewable Energy Limited: NHPC Renewable Energy Limited is a wholly-owned subsidiary focused on expanding NHPC’s footprint in the renewable energy sector. The subsidiary is actively developing solar and wind power projects across India, with a strong emphasis on hybrid energy solutions. NREL plays a key role in NHPC’s long-term strategy to diversify beyond hydropower and contribute to India’s renewable energy targets. 
  • Tata Power Trading Company Ltd. (TPTCL): This subsidiary is involved in power trading and energy management solutions. TPTCL facilitates the sale and purchase of power across different regions, optimizing supply-demand balance and ensuring efficient utilization of generation capacity. It plays a crucial role in providing open access solutions to industries and commercial enterprises. 

Q3 FY25 Earnings 

  • Revenue of ₹2287 crore in Q3 FY25 up by 11.3% YoY from ₹2056 crore in Q3 FY24.  
  • EBITDA of ₹1021 crore in this quarter at a margin of 45% compared to 37% in Q3 FY24. 
  • Profit of ₹330 crore in this quarter compared to a ₹623 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 2056 2287 10607 9632 
Expenses 1303 1265 4423 4825 
EBITDA 752 1021 6184 4807 
OPM 37% 45% 58% 50% 
Other Income 587 365 743 2029 
Net Profit 623 330 4261 4028 
NPM 30.3% 14.4% 40.2% 41.9% 
EPS 0.48 0.23 3.9 3.6 
BHEL, JSW Energy, and JSW Infrastructure Q3 FY25 Results
BHEL,JSW Energy, and JSW Infrastructure Q3 FY25 Results, Industry Insights

Bharat Heavy Electricals Ltd: Overview 

Bharat Heavy Electricals Ltd. (BHEL) is one of India’s largest public sector engineering and manufacturing companies, primarily focused on power generation and transmission equipment. Established in 1964, BHEL has played a crucial role in the development of India’s power and industrial infrastructure. The company is headquartered in New Delhi and operates through numerous manufacturing plants, regional offices, and service centers across India and globally. BHEL is a dominant player in the power generation equipment sector, where it manufactures a wide range of products like Thermal Power Plants, Hydroelectric Power Plants, and Gas based Power Plants. The company also offers solutions for substations, transmission lines, and distribution systems, which are critical components for maintaining power grid stability. BHEL has been diversifying its product offerings and has a growing presence in the defense sector. The company manufactures radar systems, communication equipment, and other defense electronics, contributing to India’s defense capabilities. It also offers equipment and systems for aerospace applications. BHEL has a strong presence both in India and internationally, with significant exports to countries in Asia, the Middle East, Africa, and Latin America. The company has worked on major projects in countries like Algeria, Egypt, Sri Lanka, and Nepal. 

Latest Stock News 

In the Power Segment, BHEL emerged as the successful bidder for the main plant package of the 3×800 MW Telangana Stage-II supercritical thermal power plants. The company also received a Limited Notice to Proceed (LNTP) from NTPC Ltd. to begin basic engineering. In the Industry Segment, BHEL secured an order for the supply of around 800 kV, 6000 MW Khavda-Nagpur LCC HVDC Terminal Stations, along with AC transmission systems at Khavda and Nagpur, in collaboration with Hitachi Energy India Ltd. For sector-wise order receipts up to Q3 FY25, the Power Sector received Rs. 39,464 Cr, the Industry Sector received Rs. 8,328 Cr, and Exports garnered Rs. 154 Cr. Other key orders include an EPC order for the 765 kV Air Insulated Substation Package, several substation extension orders for 400 kV/765 kV ratings, and the supply of transformers for various transmission companies. Additionally, BHEL secured orders for supplying and supervising the installation and commissioning (E&C) of a 1x 80 MW STG for a chemical manufacturing company, and supplying 689 traction motors and 27 sets of traction electrics for the DETC project from Indian Railways. The company also received a development order for high-power Li-ion cells from the Vikram Sarabhai Space Centre. In the Export Market, BHEL secured an order for the supply and supervision of a 95 MW generator for Russia and an order for safety valves for a project in Costa Rica, marking its entry into the 91st country. BHEL also successfully completed the Harbour Acceptance Trials (HATs) for the first upgraded SRGM onboard INS Nilgiri. Furthermore, six BHEL units/divisions were recognized in various categories at the prestigious CII EXIM Bank Award for Business Excellence 2024. 

Q3 FY25 Earnings 

  • Revenue of ₹7277 crore in Q3 FY25 up by 32.2% YoY from ₹5504 crore in Q3 FY24.  
  • EBITDA of ₹304 crore in this quarter at a margin of 4% compared to 4% in Q3 FY24. 
  • Profit of ₹135 crore in this quarter compared to a ₹60 crore profit in Q3 FY24. 

JSW Energy Ltd: Overview 

JSW Energy Ltd is a part of the JSW Group, is one of India’s leading private-sector power generation companies. The company is engaged in the business of power generation, transmission, and distribution, focusing on renewable energy, thermal energy, and hydroelectric power. Established in 1994, JSW Energy has played a significant role in the country’s energy sector, contributing to both the conventional and renewable energy segments. JSW Energy operates a significant portfolio of thermal power plants across India. These plants primarily use coal and gas as their fuel sources. The company has thermal power plants in states like Maharashtra, Tamil Nadu, and others, with a total installed capacity that has made it one of the major players in the Indian thermal power sector. The thermal plants play a crucial role in meeting India’s increasing energy demands, particularly in industrial and urban sectors. The company has made significant investments in solar power projects and has been scaling up its renewable energy capacity in line with the Indian government’s renewable energy targets. This segment is becoming increasingly important to JSW Energy as it aligns with global trends toward sustainability and reducing carbon emissions. The company’s hydroelectric plants help in balancing the grid by providing consistent and reliable power, especially during peak demand periods. The energy sector in India is undergoing a major transformation. The country is one of the largest consumers of energy in the world, with an increasing demand for both conventional and renewable energy sources. The Indian government has set ambitious goals for renewable energy capacity, aiming for 500 GW of non-fossil fuel-based energy by 2030, which creates opportunities for companies like JSW Energy to grow its renewable energy portfolio. 

Latest Stock News 

On December 27, 2024, O2 Power signed a definitive agreement to acquire a 4,696 MW renewable energy (RE) platform, marking one of the largest RE transactions in the sector. The deal was valued at an enterprise value of ₹12,468 crores after adjusting for net current assets. Additionally, O2 Power completed the acquisition of 125 MW of wind projects from Hetero Labs and Hetero Drugs Ltd. on January 10, 2025. The company’s net generation of energy increased by 10% YoY, reaching 6.8 billion units and is driven by wind capacity additions, incremental contributions from Utkal Unit 1, and higher generation from hydro plants. As of now, the total locked-in capacity stands at 28.3 GW. During the third quarter, 377 MW of wind capacity was commissioned, bringing the total installed capacity to 8.1 GW, with 872 MW added in the first nine months of the fiscal year. In the utility-scale segment, O2 Power received a Letter of Award (LoA) for 400 MW of ISTS-connected solar capacities from NTPC in December 2024. Wind generation reached 639 million units, a 38% increase YoY, thanks to the capacity additions. Additionally, total hydro generation rose by 14% YoY to 723 million units due to improved hydrology. 

Q3 FY25 Earnings 

  • Revenue of ₹2439 crore in Q3 FY25 down by 4.09% YoY from ₹2543 crore in Q3 FY24.  
  • EBITDA of ₹914 crore in this quarter at a margin of 37% compared to 44% in Q3 FY24. 
  • Profit of ₹157 crore in this quarter compared to a ₹232 crore profit in Q3 FY24. 

JSW Infrastructure Ltd: Overview 

JSW Infrastructure Ltd is a part of the JSW Group, is one of India’s leading private-sector players in the infrastructure development sector, with a focus on ports, logistics, and related services. Established with the aim of supporting India’s growth and fostering trade and commerce, JSW Infrastructure has expanded its footprint across various parts of India and globally. The company plays a significant role in facilitating the smooth movement of goods, especially in the maritime, logistics, and port infrastructure domains. The company operates multipurpose cargo terminals, bulk terminals, and specialized terminals for handling various types of cargo such as coal, iron ore, liquid cargo, containers, and general cargo. The company has a robust logistics network that ensures seamless transportation of goods to and from the ports. JSW Infrastructure operates at key coastal and inland locations across India, with a robust network in states such as Maharashtra, Gujarat, and Odisha. It also has a growing presence in global markets, with strategic investments in key international ports and infrastructure projects. The infrastructure and logistics sector in India is growing rapidly, driven by increasing trade, industrialization, and urbanization. With the Indian economy poised to grow, the demand for world-class ports, transportation, and logistics infrastructure is expected to rise significantly. The government’s push for the development of infrastructure, especially ports and logistics under initiatives like the Sagarmala Project, presents significant opportunities for private players like JSW Infrastructure. 

Latest Stock News 

O&M contracts have been secured for two dry bulk terminals in the UAE, namely Fujairah (24 mtpa) and Dibba (17 mtpa). The strategic locations of these terminals enhance the cargo profile, reducing transportation costs. Additionally, the company’s presence on both the West and East coasts of India provides an advantageous geographic position, ensuring strong connectivity to industrial hubs and mineral-rich regions. In Q3 FY25, the total cargo handled was 29.4 million tonnes, and in 9M FY25, it reached 85.7 million tonnes, reflecting an 11% YoY growth. The cargo handling capacity at the Mangalore Coal Terminal has been increased to 8.1 MTPA from 6.7 MTPA, while the PNP Port capacity has risen to 8 MTPA from 5 MTPA. The company maintains a strong balance sheet, with a net debt of ₹827 crore, cash and bank balances of ₹4,845 crore, and gross debt of ₹5,672 crore. 

Regarding new developments, the V.O. Chidambaranar Port (Tuticorin) signed a concession agreement in July 2024 for the construction of a 7 MTPA berth to handle dry bulk cargo, with an estimated capex of ₹600 crore. At JNPA (Liquid Terminal), a concession agreement was signed in April 2024 for two liquid cargo berths with a total capacity of 4.5 MTPA, involving an estimated capex of ₹100 crore. Notably, 40% of the pipeline has been delivered, with 25% currently under installation. Other expansions include the Mangalore Container terminal, where capacity is being increased from 4.2 MTPA to 6 MTPA, requiring an estimated capex of ₹150 crore. The brownfield expansion at Jaigarh for LPG capacity, set at 2 MTPA, is estimated to require ₹900 crore in capex. Lastly, the Goa terminal expansion will boost its capacity to 15 MTPA from 8.5 MTPA through the construction of a covered shed, with an estimated capex of ₹150 crore. 

Q3 FY25 Earnings 

  • Revenue of ₹1182 crore in Q3 FY25 up by 25.7% YoY from ₹940 crore in Q3 FY24.  
  • EBITDA of ₹586 crore in this quarter at a margin of 51% compared to 50% in Q3 FY24. 
  • Profit of ₹336 crore in this quarter compared to a ₹254 crore profit in Q3 FY24.