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# Jaiprakash Power Ventures Moat Analysis: Score & Risks
- URL: https://www.moatmarginresearch.com/jaiprakash-power-ventures-moat/
- Published: 2026-08-16T16:33:00.000Z
- Updated: 2026-08-22T05:14:04.000Z
- Author: A K Karthikeyan
- Tags: First-pass note, Coverage

Moat Note · First-pass

## Jaiprakash Power Ventures Ltd.

A first-pass moat teardown of Jaiprakash Power Ventures Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.

**Moat & Margin**16 Aug 2026 First-pass · \~3 min

5.16 / 10

NARROWRegulated-led

First-pass narrow read — primary edge in Cost Advantage. Provisional, single-pass evidence.

Provisional score · subject to modification based on new evidence

Jaiprakash Power Ventures Ltd. scores **5.16** on MoatSCORE 6.0 — a narrow moat in Power. This is a **first-pass note**: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.

The teardown 

## Seven dimensions of moat

Ordered by contribution. Each dimension carries a verified filing quote, graded **\[M\]** mechanism or **\[O\]** outcome.

D3Cost Advantage6

M · Mechanism✓ Verified verbatim

“Station Auxiliary Power consumption during FY 2022-23 is 5.41% which is below Normative Value of 5.75 %. This is achieved by equipment performance optimization & prudent operational practices.”

**Jaiprakash Power Ventures Ltd.** · Annual Report · p.39

D2Switching Costs5.7

M · Mechanism✓ Verified verbatim

“Thus the Plant supplies 70% of the installed capacity on long-term basis to MPPMCL in terms of the Power Purchase Agreements executed with them and balance of installed capacity is being sold as merchant power.”

**Jaiprakash Power Ventures Ltd.** · Annual Report · p.22

D4Price Discretion5.5

M · Mechanism✓ Verified verbatim

“balance of installed capacity is being sold as merchant power”

**Jaiprakash Power Ventures Ltd.** · Xbrl Text

D5Intangible Assets5.5

No verified filing quote surfaced for this dimension in the first-pass evidence sweep.

D6Efficient Scale5.2

M · Mechanism✓ Verified verbatim

“There is no default in recovery of Trade receivables except the amount unpaid on account of dispute on the said amounts with beneficiaries. The disputes are pending with respective regulatory authorities & Courts”

**Jaiprakash Power Ventures Ltd.** · Xbrl Text

D1Network Effects4.5

M · Mechanism✓ Verified verbatim

“Equity shares on preferential basis are proposed to be issued so as to reduce the debt burden of the Company.”

**Jaiprakash Power Ventures Ltd.** · Annual Report · p.26

D7Counter-PositioningExcluded—

Excluded for this archetype.

D8Ungoverned RiskUnscored · Layer 2.5

D8 rating: **ADEQUATE**. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.

The barrier gate 

## The barrier gate — first-pass

Replication — can a rival copy it?6.0

How hard it is for a rival to copy the edge (first-pass estimate).

Bypass — can a rival route around it?5.0

How easily a rival can route around the edge (first-pass estimate).

Effective barrier 5 — below 6, so the band is capped narrow. First-pass estimate.

What would change our mind

1. **Deep two-pass review.** This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
2. **The barrier gate.** A firmer replication or bypass estimate is the most likely thing to shift the band.
3. **Adverse events.** Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.

First-pass note — provisional single-pass MoatSCORE 6.0 read, not the full deep dive. Educational research, not investment advice; no buy/sell recommendation, no price target. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.

**Where this note fits.** This company is one of **509 Indian companies** we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the [Moat Screener](https://www.moatmarginresearch.com/moat-screener/).