Maruti Clean Coal and Power Limited owns and operates a 300 MW thermal power project in Chhattisgarh. The company raked in revenue of ₹787 crores from operations.
This acquisition will aid the company in scaling and claiming its target. JSW Energy said that it has set a target to reach 30 GW capacity by FY 2030.
Even as it has inked the agreement, there are still some hurdles to acquiring the company that was established in 1999. JSW Energy needs approval from the Government of Chhattisgarh for the transfer of CSIDC land, in addition to approval from the existing lenders.Also Read: JSW Energy Q4 Results: EBITDA surges 87% on acquisitions, capacity additions
When we take a quick look at the quarterly performance of the company. In its Q4 results, announced in May, the top-line numbers for the quarter grew 41% year-on-year to ₹4,498.6 crore, while EBITDA soared 86.8% to a record ₹2,249.8 crore.
In addition to that, the operating margin also expanded, rising 50% from 37.8% in the previous cycle.
When we look at the recent performance of the company shares, the JSW Energy shares, on Friday’s trade, after starting lower, surged as the day progressed. The company shares rose by over 1% on Friday. In addition to that, the stock has seen a rise of around 15% in the past 6 months of trade.
The stock is at 9.39% decline from its 52-week high mark of ₹617.35, as the current price stands at ₹559.35 per piece.
