SJVN Ltd

SJVN Ltd

₹ 121 -1.14%
28 Mar - close price
About

SJVN is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydro-power projects.[1]

Key Points

Electricity Plants
Presently, the company has 6 operation electricity projects across India with a total capacity of ~2017 MW.

  1. Nathpa Jhakri Hydro Power - 1500 MW - Himachal Pradesh
  2. Rampur Hydro Power - 412 MW - Himachal Pradesh
  3. Khirvire Wind Power - 47.6 MW - Maharashtra
  4. Charanka Solar Power - 5.6 MW - Gujarat
  5. Sadla Wind Power - Gujarat - 50 MW
  6. Grid connected Solar Plant at NJHPS - 1.3MW [1]
<h1>The company operates India’s single-largest hydro power plant (NJHPS: 1,500MW). Also, RHPS (412MW) is the country’s second-largest hydro power generator[2]</h1>
  • Market Cap 47,708 Cr.
  • Current Price 121
  • High / Low 170 / 32.4
  • Stock P/E 53.8
  • Book Value 36.4
  • Dividend Yield 1.46 %
  • ROCE 11.3 %
  • ROE 10.3 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 57.4%
  • Debtor days have improved from 65.6 to 33.6 days.

Cons

  • Stock is trading at 3.34 times its book value
  • The company has delivered a poor sales growth of 5.65% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
495 466 664 884 551 324 1,006 881 552 497 665 871 537
167 226 154 271 170 184 176 165 170 335 187 171 173
Operating Profit 328 240 510 613 381 140 831 716 382 162 477 700 363
OPM % 66% 52% 77% 69% 69% 43% 83% 81% 69% 33% 72% 80% 68%
-24 744 55 43 57 68 103 88 189 75 74 96 67
Interest -15 30 26 15 38 82 144 117 117 54 94 129 146
Depreciation 105 97 96 102 102 103 100 105 103 82 97 98 108
Profit before tax 214 857 442 539 297 22 689 582 351 100 361 570 177
Tax % 9% 28% 23% 25% 22% 103% 12% 23% 17% 86% 25% 23% 24%
196 614 340 406 233 -1 608 451 291 14 270 441 135
EPS in Rs 0.50 1.56 0.86 1.03 0.59 -0.00 1.55 1.15 0.74 0.03 0.69 1.12 0.34
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,914 1,682 1,873 2,816 2,494 2,679 2,230 2,646 2,708 2,491 2,422 2,935 2,569
235 242 268 372 431 480 524 605 589 621 625 671 866
Operating Profit 1,679 1,440 1,604 2,443 2,063 2,200 1,706 2,041 2,119 1,869 1,797 2,264 1,703
OPM % 88% 86% 86% 87% 83% 82% 77% 77% 78% 75% 74% 77% 66%
197 245 237 309 537 409 407 392 569 406 177 325 312
Interest 84 54 29 65 218 55 101 251 344 42 226 466 422
Depreciation 446 447 475 641 677 680 365 390 384 393 404 391 385
Profit before tax 1,346 1,185 1,338 2,047 1,704 1,874 1,648 1,793 1,959 1,840 1,343 1,732 1,208
Tax % 21% 11% 17% 18% 17% 18% 26% 24% 21% 11% 27% 21%
1,069 1,052 1,115 1,677 1,407 1,544 1,225 1,364 1,557 1,633 978 1,363 861
EPS in Rs 2.58 2.54 2.69 4.05 3.40 3.73 3.12 3.47 3.96 4.16 2.49 3.47 2.18
Dividend Payout % 36% 38% 36% 26% 32% 74% 67% 62% 56% 53% 68% 51%
Compounded Sales Growth
10 Years: 6%
5 Years: 6%
3 Years: 3%
TTM: -7%
Compounded Profit Growth
10 Years: 3%
5 Years: 3%
3 Years: 0%
TTM: -35%
Stock Price CAGR
10 Years: 19%
5 Years: 38%
3 Years: 66%
1 Year: 271%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 11%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 4,137 4,137 4,137 4,137 4,137 4,137 3,930 3,930 3,930 3,930 3,930 3,930 3,930
Reserves 3,686 4,273 4,914 6,066 7,161 7,347 6,765 7,309 8,105 8,832 9,199 9,892 10,359
1,764 2,164 2,457 2,621 2,646 2,416 2,231 2,155 2,236 2,173 5,533 7,152 8,259
1,857 1,916 2,050 1,771 1,436 1,477 1,440 1,527 1,506 1,929 2,119 2,156 2,243
Total Liabilities 11,443 12,489 13,558 14,594 15,380 15,377 14,366 14,921 15,776 16,864 20,781 23,130 24,791
6,230 5,820 5,669 9,052 8,412 7,980 7,641 7,685 7,571 7,498 7,312 7,102 6,925
CWIP 2,023 2,982 3,926 253 341 442 642 765 945 1,207 2,227 3,029 3,860
Investments 0 5 5 11 470 589 863 1,292 1,973 3,462 4,922 5,931 6,931
3,190 3,683 3,958 5,278 6,156 6,366 5,219 5,178 5,288 4,696 6,320 7,068 7,075
Total Assets 11,443 12,489 13,558 14,594 15,380 15,377 14,366 14,921 15,776 16,864 20,781 23,130 24,791

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,094 1,406 1,154 1,482 2,208 2,293 1,564 1,040 1,999 2,011 1,650 1,576
-685 -665 -753 -277 -772 -1,116 95 -58 -440 -1,228 -4,259 -1,805
-584 -207 -408 -764 -705 -1,621 -2,272 -1,107 -1,345 -1,042 2,329 352
Net Cash Flow -175 534 -7 441 731 -444 -613 -125 213 -260 -279 123

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 110 78 73 195 147 84 47 38 100 77 87 34
Inventory Days
Days Payable
Cash Conversion Cycle 110 78 73 195 147 84 47 38 100 77 87 34
Working Capital Days -24 -56 -41 123 134 64 6 65 75 59 2 56
ROCE % 16% 12% 12% 18% 13% 14% 13% 16% 15% 15% 10% 11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 81.85% 81.85%
2.33% 2.40% 2.53% 2.51% 2.65% 2.93% 2.96% 2.31% 1.75% 1.40% 0.91% 1.68%
5.41% 5.29% 4.93% 4.63% 4.00% 3.42% 3.83% 3.81% 4.06% 4.32% 5.74% 5.97%
5.49% 5.54% 5.77% 6.09% 6.59% 6.88% 6.42% 7.11% 7.41% 7.50% 11.51% 10.51%
No. of Shareholders 1,43,4811,67,3011,92,1162,56,0123,09,1803,11,3022,88,2793,12,0243,16,0553,19,1436,20,0236,55,627

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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