SJVN Ltd

About

SJVN is the principal business activity Electricity generation of the company. The company is also engaged in the business of providing consultancy.

  • Market Cap 8,744 Cr.
  • Current Price 22.2
  • High / Low 27.4 / 17.2
  • Stock P/E 5.51
  • Book Value 30.0
  • Dividend Yield 9.89 %
  • ROCE 16.9 %
  • ROE 14.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.74 times its book value
  • Company has been maintaining a healthy dividend payout of 78.72%

Cons

  • The company has delivered a poor growth of -0.86% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 12.81% for last 3 years.
  • Debtor days have increased from 62.09 to 100.76 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
614 752 484 794 712 946 488 544 674
152 137 214 180 149 180 149 196 165
Operating Profit 462 615 270 614 563 766 339 348 509
OPM % 75% 82% 56% 77% 79% 81% 69% 64% 76%
Other Income 155 185 33 86 104 144 73 287 -10
Interest 136 141 -42 1 23 67 41 137 16
Depreciation 95 96 98 101 92 92 93 106 95
Profit before tax 386 562 248 599 552 750 278 392 388
Tax % 24% 23% 26% 23% 23% 17% 22% -2% 22%
Net Profit 294 429 182 458 422 622 215 397 303
EPS in Rs 0.75 1.09 0.47 1.17 1.08 1.59 0.55 1.02 0.77
Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,682 1,872 2,816 2,494 2,679 2,228 2,645 2,697 2,652
242 268 372 432 480 524 606 590 690
Operating Profit 1,440 1,604 2,443 2,062 2,199 1,705 2,039 2,106 1,962
OPM % 86% 86% 87% 83% 82% 76% 77% 78% 74%
Other Income 245 237 309 542 411 409 397 594 494
Interest 54 29 65 218 55 101 251 344 261
Depreciation 447 475 641 677 680 365 390 384 387
Profit before tax 1,185 1,338 2,047 1,709 1,875 1,648 1,795 1,971 1,808
Tax % 11% 17% 18% 17% 18% 26% 24% 16%
Net Profit 1,052 1,114 1,677 1,411 1,541 1,225 1,363 1,656 1,537
EPS in Rs 2.38 2.53 3.84 3.28 3.73 3.12 3.47 4.21 3.93
Dividend Payout % 38% 36% 26% 32% 74% 122% 62% 52%
Compounded Sales Growth
10 Years:%
5 Years:-1%
3 Years:0%
TTM:-3%
Compounded Profit Growth
10 Years:%
5 Years:-1%
3 Years:2%
TTM:3%
Stock Price CAGR
10 Years:-1%
5 Years:-5%
3 Years:-14%
1 Year:-11%
Return on Equity
10 Years:%
5 Years:13%
3 Years:13%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
4,137 4,137 4,137 4,137 4,137 3,930 3,930 3,930
Reserves 4,273 4,914 6,066 7,166 7,353 6,770 7,316 7,846
Borrowings 2,164 2,457 2,648 2,646 2,416 2,231 2,155 2,238
1,916 2,053 1,781 1,440 1,486 1,460 1,572 1,666
Total Liabilities 12,489 13,561 14,632 15,389 15,392 14,391 14,974 15,680
5,820 5,670 9,054 8,775 8,425 8,087 8,142 8,051
CWIP 2,982 4,056 429 505 661 944 1,303 2,265
Investments 5 0 3 36 90 120 160 195
3,683 3,835 5,147 6,073 6,216 5,239 5,368 5,169
Total Assets 12,489 13,561 14,632 15,389 15,392 14,391 14,974 15,680

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1,406 1,279 1,492 2,209 2,376 1,641 1,018 1,714
-665 -879 -304 -768 -1,199 15 -34 -95
-207 -408 -746 -705 -1,621 -2,272 -1,107 -1,345
Net Cash Flow 534 -8 442 736 -444 -616 -123 273

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 18% 13% 14% 13% 16% 17%
Debtor Days 78 73 195 147 83 47 38 101
Inventory Turnover 0.36 0.36 0.24 0.32 0.33 0.29 0.25

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
89.73 90.78 90.62 90.63 89.53 88.78 88.78 88.00 87.90 86.77 86.77 86.77
3.44 3.00 2.97 2.94 2.82 3.07 3.26 3.37 3.06 3.14 3.12 2.79
3.85 3.56 3.66 3.52 3.50 3.82 3.67 5.15 5.40 6.01 5.70 5.89
0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2.98 2.66 2.74 2.91 4.14 4.33 4.29 3.47 3.64 4.09 4.42 4.55

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