The Board of Directors of JSW Energy in its meeting held on Friday approved the appointment of Parth Jindal as a non-independent director of the company. In addition, the board approved fundraising to the tune of 2,500 crore by way of non-convertible debentures. The company has announced its second quarter results for FY13, where it achieved growth on a year-on-year basis, but declined sequentially in both revenue and profitability terms.
As per regulatory filings, the company’s board has approved raising long-term funds till 2,500 crore by way of issuance of, inter alia, non-convertible debentures Through private placement.
Also, the Board authorized the Finance Committee to take decisions on all matters relating to issuance of debentures from time to time, including finalizing and approving the detailed terms of issue.
Meanwhile, Parth Sajjan Jindal has been appointed as an additional and non-executive, non-independent director of the company with effect from October 28, 2022. Parth, 32, is the son of Sajjan Jindal, who is the Chairman and Managing Director of the company. jsw energy.
Parth has not been debarred from holding the office of Director under any order of SEBI or any such authority. Upon joining the JSW Group, Mr. Parth Jindal was appointed as an Economic Analyst within the Group’s Corporate Strategy team to lead all strategic projects. He was instrumental in formulating a new retail strategy for JSW Steel and also undertook the challenging task of replacing some of the loss-making entities of the JSW Group where he is still involved, such as JSW Cement and JSW Steel USA.
Parth is the managing director of JSW Cement, the managing director of JSW Paints and the founder of JSW Sports, and the chairman and co-owner of the IPL team Delhi Capitals. He is the founder of the Inspire Institute of Sports, a director of JSW Ventures and a director of JSW USA, as well as a director on the boards of other companies.
He received his MBA from Harvard Business School in 2016 and a Bachelor of Arts degree in economics and political science from Brown University in 2012.
In Q2FY23, JSW Energy posted a consolidated net profit of 465.67 crores. This PAT is attributable to the owners of the company. Q2 increased from profit of PAT 339.24 cr in Q2FY22, however, declined from 560.43 crore in Q1FY23.
During Q2 of FY23, JSW Energy’s consolidated revenue was 2,387 growing by 48 crores 2,087 46 crore in Q2FY22. However, the latest revenue declined 3,026.27 crore in the previous quarter.
JSW Energy shares closed on BSE 317.85 each, an increase of 1.08%. The market cap of the company is approx. 52,255.55 crores.
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