Jaiprakash Power Ventures Ltd (JPPOWER) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Cofacto Research Published October 14, 2026 Updated October 19, 2026 4 min read

Results are out (October 19, 2026). Jaiprakash Power Ventures Ltd's Q2 FY27 numbers came in mixed, with revenue of Rs. 1,512.12 Cr (+5.13% YoY) and PAT growth of -81.69% YoY. Key positive: Pre-exceptional EBITDA grew 39.47% YoY to Rs.656.54 Cr, with margin expanding 1,069 bps to 43.42%.
Read the full Q2 FY27 results analysis →

Jaiprakash Power Ventures runs three power plants totalling 2,220 MW, a coal mine and a cement grinding unit, and enters this quarter as an associate of Adani Power after APL acquired promoter JAL's 24% stake. The print will speak to two things: how merchant realisations at up to Rs. 7.3/unit on the IEX in September offset the first full quarter of market-priced coal after the Amelia (North) and Bandha North mine surrender, and execution of the Rs. 511.00 crore NARCL settlement that eases the IBC overhang.

Quick Details

Results date	October 19, 2026
Quarter	Q2 FY 2026-2027
Previous quarter revenue	Rs. 1,775.70 Cr
Previous quarter PAT	Rs. 468.95 Cr
Market cap	Rs. 10,328.16 Cr
CMP	Rs. 15.07

Jaiprakash Power Ventures Ltd Q2 Results Date and Time

The Board will meet on Monday, 19 October 2026, to approve un-audited standalone and consolidated results for the quarter and half year ended 30 September 2026. The trading window is closed from 1 October 2026 until 21 October 2026 (evening) under SEBI insider trading regulations.

Key Things To Watch

Fuel cost and generation mix post coal-surrender: The mine surrender booked a Rs. 193.63 Cr exceptional gain in Q1 FY27; Q2 shows its ongoing operating consequence.

Cost of fuel per unit and the e-auction/import procurement mix for Nigrie STPP, whose entire captive supply from Amelia (North) (PRC 2.8 MTPA) previously went to generation
Merchant sales realisation on Nigrie volumes against the September IEX DAM average of Rs. 7.3/unit, and whether MPPMCL's restricted, erratic schedules on Bina persisted
Vishnuprayag generation vs the FY26 print of 1,744.91 MU given the 13% monsoon deficit

NARCL settlement execution and KMP succession: Two quarter-end events shape the reported numbers and the call agenda.

Status of definitive agreements and conditions for withdrawal of IBC proceedings after the 19 September 2026 agreement to settle at Rs. 511.00 crore full and final
Appointments of CFO and Company Secretary after R.K. Porwal and Mahesh Chaturvedi ceased on superannuation on 30 September 2026 with no successors disclosed

Dispute updates and rating trajectory: Auditor-qualified matters have recurred across three consecutive reporting events and re-appeared in the Q1 FY27 limited review.

UPPCL/APTEL design-energy appeal and the Rs. 39,183 Lakh hold-back; DMG Andhra Pradesh sand-mining demands of Rs. 8,573.42 Cr of which Rs. 3,478.87 Cr is challenged in court
SBI corporate guarantee release (Rs. 1,239.15 Cr) and the ICICI Bank recompense claim of Rs. 5,696.51 Cr
Steps to resolve the CRISIL BBB/Watch Negative status on Rs. 5,600 Cr bank facilities reaffirmed 1 September 2026

Earnings quality and tax regime: Q1 FY27 PAT of Rs. 468.95 Cr exceeded the FY26 full-year PAT of Rs. 441.52 Cr, driven by the exceptional gain.

Run-rate pre-exceptional profitability and any further surrender-related items
Effects of the Section 115BAA election on future tax lines after the Q1 FY27 net impact of Rs. 108.09 Cr
Dividend stance given no dividend was recommended for FY26 due to non-availability of distributable profits

Operating metric trajectory: FY26 plant performance sets the base for Q2 comparisons.

Whether Bina PLF (75.21% FY26, up from 68.64%) and Nigrie PLF (88.79% FY26, up from 80.93%) hold
Total saleable energy vs the FY26 level of 14,145.21 MU (+8.97% YoY)

Frequently Asked Questions

Why did Jaiprakash Power's profit jump in the June 2026 quarter?

Q1 FY27 PAT of Rs. 468.95 Cr rose 68.72% YoY and included a Rs. 193.63 Cr exceptional gain from surrender of the Amelia (North) and Bandha North coal mines. Pre-exceptional PBT of Rs. 570.49 Cr was up 31.27% vs Q1 FY25.

What is the status of the NARCL insolvency settlement for JPPOWER?

On 19 September 2026, NARCL and the company agreed to settle the claim at Rs. 511.00 crore as full and final payment, subject to fulfilment of conditions and execution of definitive agreements. IBC proceedings will stand withdrawn once all conditions are fulfilled.

What is the ICICI Bank recompense claim against Jaiprakash Power?

The claim stands at Rs. 5,696.51 Cr and the auditors have flagged non-provisioning of it. Management states that under the Framework Agreement and RBI guidelines in force, nothing is payable as on 31 March 2026, with any impact recoverable under the PPAs.

What is the DMG Andhra Pradesh sand-mining dispute about?

DMG Andhra Pradesh has raised sand-mining demands of Rs. 8,573.42 Cr, of which Rs. 3,478.87 Cr is challenged in court, with FIRs filed against the company and its officials. Management says the contracts ran back-to-back through a sub-contractor whose guarantees were released with a No due certificate, and the demands are without any cogent basis.

Is Jaiprakash Power's revenue growing?

Standalone revenue rose 28.08% QoQ and 12.16% YoY to Rs. 1,775.70 Cr in Q1 FY27. FY26 saleable energy was up 8.97% YoY at 14,145.21 MU, though FY26 operating margin compressed from 38.42% to 28.50% on lower per-unit realisation and higher coal cost.