FINANCIAL STATEMENTS STANDALONE

BALANCE SHEET
as at 31st March, 2023
` crore
As at As at
Particulars Notes
31st March, 2023 31st March, 2022
A ASSETS
1 Non-current assets
(a) Property, plant and equipment 4A 3,706.42 3,954.46
(b) Capital work-in-progress 4B 15.53 23.44
(c) Other intangible assets 5 2.21 2.20
(d) Investments in subsidiaries and an associate 6 9,733.68 1,509.45
(e) Financial assets
(i) Investments 6 4,921.00 5,144.59
(ii) Trade receivables 12 59.19 59.19
(iii) Loans 7 79.85 73.62
(iv) Other financial assets 8 1,014.24 997.35
(f) Income tax assets (net) 9A 109.41 56.05
(g) Other non-current assets 10 72.43 100.78
19,713.96 11,921.13
2 Current assets
(a) Inventories 11 781.86 776.09
(b) Financial assets
(i) Investments 6 75.82 212.60
(ii) Trade receivables 12 336.92 300.51
(iii) Unbilled revenue 307.81 220.05
(iv) Cash and cash equivalents 13A 263.62 40.20
(v) Bank balances other than (iv) above 13B 171.46 162.81
(vi) Loans 7 118.41 869.99
(vii) Other financial assets 8 114.03 2,093.56
(c) Other current assets 10 65.57 75.50
2,235.50 4,751.31
Total assets 21,949.46 16,672.44
B EQUITY AND LIABILITIES
Equity
(a) Equity share capital 14A 1,640.54 1,639.67
(b) Other equity 14B 11,968.87 11,848.04
Total equity 13,609.41 13,487.71
Liabilities
1 Non-current liabilities
(a) Financial liabilities
(i) Borrowings 15 3,136.36 674.94
(ii) Lease liabilities 15.39 0.45
(iii) Other financial liabilities 16 3.53 3.51
(b) Provisions 18 22.22 29.80
(c) Deferred tax liabilities (net) 9B 967.50 841.95
(d) Other non-current liabilities 17 5.75 5.90
4,150.75 1,556.55
2. Current liabilities
(a) Financial liabilities
(i) Borrowings 15 3,137.26 596.74
(ii) Lease liabilities 3.78 0.41
(iii) Trade payables 19
a) Total outstanding dues of micro and small enterprises 2.06 1.29
b) Total outstanding dues of creditors other than micro 898.45 882.70
and small enterprises
(iv) Other financial liabilities 16 68.09 71.54
(b) Other current liabilities 17 34.07 32.42
(c) Provisions 18 8.89 6.38
(d) Current tax liabilities (net) 9C 36.70 36.70
4,189.30 1,628.18
Total liabilities 8,340.05 3,184.73
Total equity and liabilities 21,949.46 16,672.44
See accompanying notes to the standalone financial statements
In terms of our report attached
For Deloitte Haskins & Sells LLP For and on behalf of Board of Directors
Chartered Accountants

Mehul Parekh Prashant Jain Sajjan Jindal

Partner Jt. Managing Director & CEO Chairman & Managing Director
[DIN: 01281621] [DIN: 00017762]

Monica Chopra Pritesh Vinay

Company Secretary Director (Finance)
[DIN: 08868022]
Place: Mumbai Place: Mumbai
Date: 23rd May, 2023 Date: 23rd May, 2023

306 DELIVERING PROMISES. REALISING TRUE POTENTIAL.

FINANCIAL STATEMENTS STANDALONE

STATEMENT OF PROFIT AND LOSS

STATEMENTS
FINANCIAL
for the year ended 31st March, 2023
` in crore, except per share data and as stated otherwise
For the year ended For the year ended
Particulars Notes
31st March, 2023 31st March, 2022
1 Revenue from operations 20 5,739.23 3,642.74
2 Other income 21 279.85 228.26

STAKEHOLDERS
3 Total income (1+2) 6,019.08 3,871.00

SERVING
4 Expenses
(a) Fuel cost 3,643.63 2,041.09
(b) Purchase of stock-in-trade 354.45 26.11
(c) Employee benefits expense 22 134.73 124.10
(d) Finance costs 23 259.80 127.00
(e) Depreciation and amortisation expense 24 317.42 327.69
(f) Other expenses 25 399.44 406.93

CAPITALS AND
Total expenses 5,109.47 3,052.92
5 Profit before exceptional items and tax (3-4) 909.61 818.08

MD&A
6 Exceptional items 26 120.00 -
7 Profit before tax (5+6) 1,029.61 818.08
8 Tax expense 27
- Current tax 156.70 174.87
- Deferred tax 161.89 73.39
9 Profit for the year (7-8) 711.02 569.82
10 Other comprehensive income

FOR GROWTH
STRATEGIES
A (i) Items that will not be reclassified to profit or loss
(a) Remeasurements of the net defined benefit plans (0.54) (3.12)
(b) Equity instruments through other comprehensive (312.02) 1,903.07
income
(ii) Income tax relating to items that will not be reclassified 36.44 (208.85)
to profit or loss
Total (A) (276.12) 1,691.10
B (i) Items that will be reclassified to profit or loss - -
(ii) Income tax relating to items that will be reclassified to - -

GOVERNANCE
BUILT ON
profit or loss
Total (B) - -
Other comprehensive income for the year (A+B) (276.12) 1,691.10
11 Total comprehensive income for the year (9+10) 434.90 2,260.92
12 Earnings per equity share of `10 each 35
Basic (`) 4.33 3.47
Diluted (`) 4.32 3.46
See accompanying notes to the standalone financial statements
STANDALONE

In terms of our report attached

For Deloitte Haskins & Sells LLP For and on behalf of Board of Directors
Chartered Accountants

Mehul Parekh Prashant Jain Sajjan Jindal

Partner Jt. Managing Director & CEO Chairman & Managing Director
[DIN: 01281621] [DIN: 00017762]

Monica Chopra Pritesh Vinay

Company Secretary Director (Finance)
INFORMATION
SUPPORTING

[DIN: 08868022]
Place: Mumbai Place: Mumbai
Date: 23rd May, 2023 Date: 23rd May, 2023

JSW ENERGY LIMITED | INTEGRATED ANNUAL REPORT 2022-23 307

 FINANCIAL STATEMENTS STANDALONE

308
STATEMENT OF CHANGES IN EQUITY
for the year ended 31st March, 2023
A. Equity share capital
` crore
Particulars No.of Shares Total
Balance as at 01st April, 2021 1,64,23,29,255 1,642.33
Changes in equity share capital during the year (net of treasury shares) (26,58,345) (2.66)
Balance as at 31st March, 2022 1,63,96,70,910 1,639.67
Changes in equity share capital during the year (net of treasury shares) 8,65,328 0.87
Balance as at 31st March, 2023 1,64,05,36,238 1,640.54

B. Other equity
` crore

DELIVERING PROMISES. REALISING TRUE POTENTIAL.

Particulars Reserves and surplus Items of other Total
comprehensive
income
Capital Securities Debenture Equity settled General Retained Equity
reserve premium redemption employee reserve earnings instrument
reserve benefits through other
reserve comprehensive
income
Balance as at 1st April, 2021 516.12 2,392.37 66.67 20.41 213.95 4,230.20 2,550.29 9,990.01
Profit for the year - - - - - 569.82 - 569.82
Other comprehensive income for the year - - - - - (2.58) 1,693.68 1,691.10
Total comprehensive income for the year - - - - - 567.24 1,693.68 2,260.92
Dividends - - - - - (328.66) - (328.66)
Issue of equity shares under employee share - 5.22 - - - - - 5.22
option plan (ESOP)
Share based payments - - - 7.54 - - - 7.54
Consolidation of ESOP Trust - - - - - (86.99) - (86.99)
Transfers to retained earnings - - (16.67) - - 16.67 - -
Balance as at 31st March, 2022 516.12 2,397.59 50.00 27.95 213.95 4,398.46 4,243.97 11,848.04
 STATEMENT OF CHANGES IN EQUITY
for the year ended 31st March, 2023

` crore
Particulars Reserves and surplus Items of other Total
comprehensive
income
Capital Securities Debenture Equity settled General Retained Equity
reserve premium redemption employee reserve earnings instrument
reserve benefits through other
reserve comprehensive
income
Balance as at 31st March, 2022 516.12 2,397.59 50.00 27.95 213.95 4,398.46 4,243.97 11,848.04
Profit for the year - - - - - 711.02 - 711.02
Other comprehensive income for the year - - - - - (0.44) (275.68) (276.12)
Total comprehensive income for the year - - - - - 710.58 (275.68) 434.90
Dividends - - - - - (328.81) - (328.81)
Issue of equity shares under employee share option - 2.71 - - - - - 2.71
plan (ESOP)
Share based payments - - - 11.34 - - - 11.34
Consolidation of ESOP Trust - - - - - 0.69 - 0.69
Transfers to retained earnings - - (50.00) - - 50.00 - -
Balance as at 31st March, 2023 516.12 2,400.30 - 39.29 213.95 4,830.92 3,968.29 11,968.87

See accompanying notes to the standalone financial statements

In terms of our report attached
For Deloitte Haskins & Sells LLP For and on behalf of Board of Directors
Chartered Accountants

Mehul Parekh Prashant Jain Sajjan Jindal

Partner Jt. Managing Director & CEO Chairman & Managing Director
[DIN: 01281621] [DIN: 00017762]

Monica Chopra Pritesh Vinay

Company Secretary Director (Finance)
[DIN: 08868022]

JSW ENERGY LIMITED | INTEGRATED ANNUAL REPORT 2022-23

Place: Mumbai Place: Mumbai
Date: 23rd May, 2023 Date: 23rd May, 2023

309
INFORMATION GOVERNANCE FOR GROWTH MD&A STAKEHOLDERS STATEMENTS
STANDALONE
SUPPORTING BUILT ON STRATEGIES CAPITALS AND SERVING FINANCIAL
FINANCIAL STATEMENTS STANDALONE

STATEMENT OF CASH FLOWS

for the year ended 31st March, 2023
` crore
For the year ended For the year ended
Particulars
31st March, 2023 31st March, 2022
A CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax 1,029.61 818.08
Adjusted for:
Depreciation and amortisation expense 317.42 327.69
Interest income earned on financial assets that are not designated (48.69) (148.47)
as fair value through profit or loss
Finance costs 259.80 127.00
Share based payments 11.34 7.54
Dividend income from investments designated as fair value through (121.52) (45.52)
other comprehensive income
Loss / (gain) on sale / discard of property, plant and equipment (net) 0.09 1.60
Provision no longer required written back (39.66) (0.70)
Impairment loss allowance for investment in subsidiaries 10.00 10.00
Loss allowance on loans / trade receivables / interest receivables 12.63 30.96
Loss allowance of earlier years reversed (120.00) -
Loss allowance for lease receivables - 36.16
Lease receivables written off - 36.56
Loss allowance for non moving inventories 0.79 -
Unrealised foreign exchange gain (net) (3.73) (2.86)
278.47 379.96
Operating profit before working capital changes 1,308.08 1,198.04
Adjustment for movement in working capital:
(Increase) in trade receivables and unbilled revenue (123.71) (321.38)
(Increase) in inventories (6.55) (539.74)
(Increase) in current and non-current assets (61.43) (61.77)
Decrease in trade payables and other liabilities 68.29 143.97
(123.40) (778.92)
Cash generated from operations 1,184.68 419.12
Income taxes paid (net) (209.97) (166.81)
Net Cash Generated from Operating Activities (A) 974.71 252.31

B CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment (52.57) (71.79)
(including capital work-in progress and capital advances)
Proceeds from sale of property, plant and equipment 0.05 80.36
(including capital work-in-progress)
Interest received 31.46 130.39
Dividend income from investments designated as fair value through 121.52 45.52
other comprehensive income
Loans given (140.76) (1,075.84)
Loans repaid 1,012.34 273.14
Proceeds from investment in equity shares of a subsidiary (buy back) - 1,000.00
Proceeds from a subsidiary on transfer of investment in equity 2,046.01 -
shares / business
Investment in equity share capital of subsidiaries (1,947.11) (179.49)
(Investment) / Proceeds from investment in unsecured perpetual (6,287.13) 425.00
securities of a subsidiary
Proceeds from sale of investment in equity shares - 166.98
Investment in debentures of a subsidiary (164.03) -
Bank deposits not considered as cash & cash equivalents (net) (3.95) (83.95)
Net cash (used in) / generated from investing activities (B) (5,384.17) 710.32

310 DELIVERING PROMISES. REALISING TRUE POTENTIAL.

STATEMENT OF CASH FLOWS

STATEMENTS
FINANCIAL
for the year ended 31st March, 2023

` crore
For the year ended For the year ended
Particulars
31st March, 2023 31st March, 2022
C CASH FLOWS FROM FINANCING ACTIVITIES

STAKEHOLDERS
SERVING
Payment for lease liabilities (2.04) (0.45)
Proceeds / (Payment) for treasury shares under ESOP plan 0.92 (90.89)
Proceeds from issue of equity shares under ESOP plan 3.35 6.47
Proceeds from non-current borrowings 3,267.00 500.00
Repayment of non-current borrowings (200.00) (1,029.36)
Proceeds from current borrowings (net) 1,950.23 197.45
Interest paid (194.55) (135.14)
Dividend paid (328.81) (328.66)

CAPITALS AND
Net cash generated / (used in) financing activities (C) 4,496.10 (880.58)

MD&A
Net increase in cash and cash equivalents (A+B+C) 86.64 82.05
Cash and Cash Equivalents - at the beginning of the year 252.80 170.75
Cash and Cash Equivalents - at the end of the year 339.44 252.80
Cash and Cash Equivalents comprise of:
a) Balances with banks [Refer note 13A]
In current accounts 62.78 35.17
In deposit accounts maturity less than 3 months at inception 200.00 5.00
b) Cheques on hand [Refer note 13A] 0.81 -

FOR GROWTH
STRATEGIES
c) Cash on hand [Refer note 13A] 0.03 0.03
d) Investment in mutual funds [Refer note 6] 75.82 212.60
Total 339.44 252.80
See accompanying notes to the standalone financial statements
Note:
a) The statement of cash flows has been prepared under the indirect method as set out in Indian Accounting Standard (Ind AS 7)
statement of cash flows.

GOVERNANCE
b) Non cash transaction:

BUILT ON
i) During the year ended 31st March, 2022, JSW Energy (Barmer) Limited, a wholly owned subsidiary of the Company had allotted
1,26,57,69,998 Equity Shares of `10 each as bonus shares. (Refer note 6)
ii) During the year ended 31st March, 2023, JSW Energy (Barmer) Limited, a wholly owned subsidiary of the Company had allotted
97,59,91,454 Equity Shares of `10 each as bonus shares. (Refer note 6)
iii) During the year ended 31st March, 2023, Ind-Barath Energy (Utkal) Limited, a wholly owned subsidiary of the Company had allotted
10,000 Equity Shares of `10 each. (Refer note 6)

In terms of our report attached

STANDALONE

For Deloitte Haskins & Sells LLP For and on behalf of Board of Directors
Chartered Accountants

Mehul Parekh Prashant Jain Sajjan Jindal

Partner Jt. Managing Director & CEO Chairman & Managing Director
[DIN: 01281621] [DIN: 00017762]

Monica Chopra Pritesh Vinay

Company Secretary Director (Finance)
[DIN: 08868022]
Place: Mumbai Place: Mumbai
INFORMATION
SUPPORTING

Date: 23rd May, 2023 Date: 23rd May, 2023

JSW ENERGY LIMITED | INTEGRATED ANNUAL REPORT 2022-23 311