SJVN Ltd
SJVN(Satluj Jal Vidyut Nigam) is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydro-power projects. SJVN was declared Navaratna status in Aug,24.[1]
- Market Cap ₹ 27,540 Cr.
- Current Price ₹ 70.1
- High / Low ₹ 108 / 67.1
- Stock P/E 43.5
- Book Value ₹ 37.1
- Dividend Yield 2.08 %
- ROCE 4.91 %
- ROE 5.81 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 66.3%
Cons
- The company has delivered a poor sales growth of 2.59% over past five years.
- Company has a low return on equity of 7.29% over last 3 years.
- Company might be capitalizing the interest cost
* 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.
Peer comparison
Utilities Power Power Power Generation
Part of BSE 500 BSE PSU Nifty 500 Nifty Energy Nifty CPSE
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,872 | 2,816 | 2,494 | 2,679 | 2,228 | 2,645 | 2,703 | 2,485 | 2,417 | 2,938 | 2,579 | 3,072 | 3,536 | |
| 268 | 372 | 431 | 480 | 524 | 606 | 590 | 619 | 623 | 665 | 737 | 849 | 955 | |
| Operating Profit | 1,604 | 2,443 | 2,063 | 2,199 | 1,705 | 2,039 | 2,112 | 1,867 | 1,794 | 2,273 | 1,843 | 2,223 | 2,581 |
| OPM % | 86% | 87% | 83% | 82% | 76% | 77% | 78% | 75% | 74% | 77% | 71% | 72% | 73% |
| 237 | 309 | 541 | 411 | 409 | 397 | 587 | 425 | 195 | 310 | 380 | 308 | 229 | |
| Interest | 29 | 65 | 218 | 55 | 101 | 251 | 344 | 42 | 226 | 449 | 482 | 743 | 935 |
| Depreciation | 475 | 641 | 677 | 680 | 365 | 390 | 384 | 393 | 404 | 396 | 557 | 676 | 823 |
| Profit before tax | 1,338 | 2,047 | 1,709 | 1,875 | 1,648 | 1,795 | 1,972 | 1,856 | 1,360 | 1,738 | 1,183 | 1,112 | 1,052 |
| Tax % | 17% | 18% | 17% | 18% | 26% | 24% | 21% | 11% | 27% | 22% | 23% | 26% | |
| 1,114 | 1,677 | 1,411 | 1,545 | 1,225 | 1,367 | 1,567 | 1,646 | 990 | 1,359 | 911 | 818 | 632 | |
| EPS in Rs | 2.69 | 4.05 | 3.41 | 3.73 | 3.12 | 3.47 | 3.99 | 4.19 | 2.52 | 3.46 | 2.32 | 2.09 | 1.61 |
| Dividend Payout % | 36% | 26% | 32% | 74% | 122% | 62% | 55% | 53% | 68% | 51% | 78% | 70% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 3% |
| 3 Years: | 8% |
| TTM: | 16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -7% |
| 5 Years: | -10% |
| 3 Years: | -7% |
| TTM: | -31% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 22% |
| 3 Years: | 31% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 7% |
| Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4,137 | 4,137 | 4,137 | 4,137 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 |
| Reserves | 4,914 | 6,066 | 7,166 | 7,353 | 6,770 | 7,316 | 8,121 | 8,861 | 9,241 | 9,930 | 10,141 | 10,249 | 10,657 |
| 2,457 | 2,648 | 2,646 | 2,416 | 2,231 | 2,155 | 2,238 | 2,174 | 6,906 | 14,059 | 20,323 | 27,025 | 29,567 | |
| 2,053 | 1,781 | 1,440 | 1,486 | 1,460 | 1,572 | 1,666 | 2,508 | 3,172 | 4,392 | 4,797 | 4,859 | 4,660 | |
| Total Liabilities | 13,561 | 14,632 | 15,389 | 15,392 | 14,391 | 14,974 | 15,955 | 17,473 | 23,248 | 32,311 | 39,191 | 46,063 | 48,814 |
| 5,670 | 9,054 | 8,775 | 8,425 | 8,087 | 8,142 | 8,051 | 8,007 | 7,866 | 8,489 | 10,906 | 11,610 | 15,757 | |
| CWIP | 4,056 | 429 | 505 | 661 | 944 | 1,303 | 2,265 | 4,298 | 8,369 | 15,674 | 20,033 | 26,414 | 25,430 |
| Investments | 0 | 3 | 36 | 90 | 120 | 160 | 195 | 222 | 275 | 36 | 37 | 61 | 53 |
| 3,835 | 5,147 | 6,073 | 6,216 | 5,239 | 5,368 | 5,444 | 4,946 | 6,738 | 8,112 | 8,215 | 7,978 | 7,572 | |
| Total Assets | 13,561 | 14,632 | 15,389 | 15,392 | 14,391 | 14,974 | 15,955 | 17,473 | 23,248 | 32,311 | 39,191 | 46,063 | 48,814 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,279 | 1,492 | 2,209 | 2,376 | 1,641 | 1,018 | 1,714 | 1,983 | 2,138 | 1,632 | 1,310 | 2,483 | |
| -879 | -304 | -768 | -1,199 | 15 | -34 | -95 | -1,145 | -6,132 | -6,877 | -5,502 | -6,430 | |
| -408 | -746 | -705 | -1,621 | -2,272 | -1,107 | -1,345 | -1,105 | 3,669 | 5,559 | 4,502 | 3,939 | |
| Net Cash Flow | -8 | 442 | 736 | -444 | -616 | -123 | 273 | -267 | -325 | 314 | 309 | -8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 73 | 195 | 147 | 83 | 47 | 38 | 101 | 77 | 87 | 34 | 89 | 66 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 73 | 195 | 147 | 83 | 47 | 38 | 101 | 77 | 87 | 34 | 89 | 66 |
| Working Capital Days | -67 | 104 | 120 | 40 | 3 | 61 | 38 | -46 | -215 | -395 | -418 | -409 |
| ROCE % | 12% | 18% | 13% | 14% | 13% | 16% | 15% | 15% | 9% | 9% | 5% | 5% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nathpa Jhakri HPS - Plant Availability Factor (PAF) % ・Standalone data |
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| Rampur HPS - Plant Availability Factor (PAF) % ・Standalone data |
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| Total Gross Power Generation MU |
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| Total Installed Capacity MW |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - 1000 MW Bikaner Solar achieved 1 billion units on Mar 20, 2026; COD Dec 24, 2025; tariff ₹2.57/unit.
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Announcement under Regulation 30 (LODR)-Change in Directorate
1d - Parthajit De appointed Whole-time Director (Finance) effective 19-Mar-2026 for five years; prior CFO relieved.
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Announcement under Regulation 30 (LODR)-Change in Directorate
12 Mar - Dr. Shashikant Jagannath Wani ceased as independent director effective March 12, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
9 Mar - NJHPS reaches 150 billion units cumulative generation on 09-Mar-2026; commissioned May 2004.
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Announcement under Regulation 30 (LODR)-Change in Management
27 Feb - Two senior executives (Rajeev Kumar, Chandra Shekhar Yadav) superannuated; ceased Feb 27, 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from nse
Concalls
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Nov 2025TranscriptPPT
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Apr 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptPPT
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Nov 2024TranscriptPPT
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Aug 2024TranscriptPPTREC
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May 2024TranscriptPPT
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Nov 2023TranscriptPPT
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Aug 2023TranscriptPPT
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Jun 2023Transcript PPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022TranscriptPPT
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May 2022TranscriptPPT
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Feb 2022TranscriptPPT
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Nov 2021TranscriptPPT
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Aug 2021TranscriptPPT
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Jul 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Jun 2019TranscriptPPT
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Jun 2017TranscriptPPT
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Dec 2016TranscriptPPT
Business Verticals
a) Hydro Power: The company has 3 hydropower projects including Nathpa Jhakri Hydro Power Station, Rampur Hydro Power Station, and Naitwar Mori Hydro Power Station with an installed capacity of 1,972 MW. It is constructing 4 hydro projects totaling 1,558 MW. [1] [2]