GQG Partners Sells Nearly 1% Stake in JSW Energy in ₹677 Crore Block Deal

10 Dec 2025 , 10:01 AM

US based investment firm GQG Partners sold nearly a 1 percent stake in JSW Energy on December 9 through a block deal worth ₹677 crore. The transaction involved the sale of 1.5 crore shares at an average price of ₹444 per share. Following the sale, GQG Partners’ holding in JSW Energy reduced to 1.8 percent based on the September 2025 shareholding data.

JSW Energy reported a net profit of ₹705 crore for the second quarter, a decline of 17.4 percent compared with ₹853 crore in the same quarter last year. Revenue for the quarter was ₹5,177.4 crore, lower than the ₹3,238 crore reported in the previous year’s second quarter.

EBITDA dropped sharply to ₹2,996 crore from ₹1,684.8 crore in the corresponding quarter last year, reflecting a fall of 77.8 percent. EBITDA margin improved to 57.9 percent compared with 52 percent a year ago.

On a consolidated basis, EBITDA for Q2 FY26 stood at ₹3,180 crore, a rise of 67 percent year on year supported by higher renewable additions and contributions from the Mahanadi and O2 Power projects.

Cash profit after tax on a trailing twelve month basis was around ₹4,341 crore, while cash returns on adjusted net worth stood at 20 percent. Receivables remained under control with DSO at 64 days.

Cash and cash equivalents were approximately ₹6,181 crore during the quarter. Net debt increased to nearly ₹61,960 crore as the company continued to implement growth projects. The net debt to equity ratio was 2.1 times at the end of the quarter. Excluding capital work in progress, net debt to EBITDA for operational assets remained stable at 4.8 times.

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