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SJVN

SJVN NSE

Key Fundamentals

SmallcapPower GenerationPower
Market Cap
₹26,153 Cr
Volatility
Moderate
P/E Ratio
40.85
EBITDA
₹3,544 Cr
Return on Equity
4.5%
Debt to Equity
2.27
Book Value
₹36.23
EPS
₹2.35
52W High
₹95.58
52W Low
₹63.02

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 79.8%

Weaknesses

4
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 5.43% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 162 days.

Growth Rate

Revenue Growth
39.87% higher than 3Y
Net Income Growth
-21.54% higher than 3Y
Cash Flow Change
-25.1% lower than 3Y
ROE
-22.01% lower than 3Y
ROCE
30.65% higher than 3Y
EBITDA Margin (Avg.)
0.32% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

SJVN Ltd is a state-owned hydropower utility with a market cap of ₹26,153 Cr trading at a PE of 41.2x. The company delivered strong TTM sales growth of 60% but reported a compounded profit decline of -7% TTM, while maintaining a high dividend payout of 79.8% and a dividend yield of 2.23%.

Bull Case 7
  • TTM revenue growth of 60% indicates a sharp acceleration in top-line performance, significantly above the 10-year compounded sales CAGR of 6%
  • Healthy dividend payout ratio of 79.8% with a dividend yield of 2.23%, offering consistent income in a sector where cash flows are relatively predictable
  • 5-year stock CAGR of 20% reflects meaningful long-term wealth creation for patient investors despite recent corrections
  • 3-year compounded sales growth of 16% demonstrates a sustained improvement in revenue trajectory over the medium term
  • Company is expected to deliver a good upcoming quarter, suggesting near-term operational momentum may continue
  • As a government-backed utility with a market cap of ₹26,153 Cr, SJVN benefits from policy support for renewable and hydropower capacity expansion in India
  • Price-to-book ratio of 1.85x is relatively modest for a utility with long-life infrastructure assets and government backing
Bear Case 8
  • Compounded profit has declined at -19% CAGR over 5 years and -22% over 3 years, indicating persistent erosion in earnings despite revenue growth
  • Return on equity of just 5.43% over the last 3 years (5% last year) is well below cost of equity, suggesting poor capital efficiency
  • PE of 41.2x is elevated for a utility with declining profits, implying the stock prices in significant future growth that has not yet materialized in earnings
  • High debtor days of 162 indicate significant working capital stress and potential collection risk from off-takers
  • Low interest coverage ratio signals that debt servicing consumes a large share of operating profits, raising financial risk
  • Potential capitalization of interest costs may be flattering reported profits and asset values, masking the true cost burden
  • Stock has declined 28% over the past 1 year and delivered a negative 3-year CAGR of -2%, reflecting weakening market sentiment
  • 10-year compounded profit CAGR of -7% shows that earnings deterioration is a structural, long-standing issue rather than a cyclical blip

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 3h ago
Headwinds 1
  • BSE/NSE fine for board gaps Aug 26

    SJVN penalized ₹26.8 lakh (₹13.44 lakh each by BSE and NSE) for failing to maintain the requisite number of independent directors. The company plans to seek a waiver after appointing a new director.

Positives 2
  • 660 MW Buxar Unit-II commissioning Sep 11

    SJVN's Buxar Thermal Power Project Unit-II (660 MW) scheduled to start operations on September 12, marking a significant capacity addition to the generation portfolio.

  • ₹0.35 final dividend declared Aug 31

    SJVN declared a final dividend of ₹0.35 per share for FY26 at its 38th AGM on August 31, alongside the appointment of three new directors.

Neutral 1
  • CMD Gupta's charge extended Sep 10

    Ministry of Power extended Bhupender Gupta's additional charge as SJVN CMD for six months from August 1, 2026. He continues to also head NHPC.

TL;DR: SJVN is executing on capacity expansion with the 660 MW Buxar Unit-II coming online, which strengthens its generation portfolio. Governance remains a minor concern after the ₹26.8 lakh exchange penalty for board composition shortfalls, though new director appointments at the AGM should address this. The dividend payout signals steady shareholder returns. Overall trend is mildly positive as operational milestones outweigh the regulatory hiccup.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
675
878
543
483
870
1,026
671
504
917
1,032
1,082
1,496
1,394
Expenses
192
172
175
256
224
198
207
264
211
172
309
587
545
Operating Profit
483
706
368
227
646
828
464
241
707
860
773
910
850
OPM %
72%
80%
68%
47%
74%
81%
69%
48%
77%
83%
71%
61%
61%
Other Income
71
89
49
195
89
92
91
52
54
79
44
60
35
Interest
90
124
122
121
143
198
229
159
216
315
245
522
326
Depreciation
101
102
112
242
131
133
137
275
160
171
216
494
247
PBT
363
569
183
58
462
590
189
-142
385
453
357
-47
311
Tax %
25%
23%
24%
-5%
23%
25%
21%
-10%
41%
32%
37%
153%
28%
Net Profit
272
440
139
61
357
440
149
-128
228
308
224
-118
225
EPS in Rs
0.69
1.12
0.35
0.16
0.91
1.12
0.38
-0.32
0.58
0.78
0.57
-0.3
0.57
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,816
2,494
2,679
2,228
2,645
2,703
2,485
2,417
2,938
2,579
3,072
4,528
5,005
Expenses
372
431
480
524
606
590
619
623
665
737
849
1,168
1,613
Operating Profit
2,443
2,063
2,199
1,705
2,039
2,112
1,867
1,794
2,273
1,843
2,223
3,361
3,393
OPM %
87%
83%
82%
76%
77%
78%
75%
74%
77%
71%
72%
74%
68%
Other Income
309
541
411
409
397
587
425
195
310
380
308
180
218
Interest
65
218
55
101
251
344
42
226
449
482
743
1,298
1,408
Depreciation
641
677
680
365
390
384
393
404
396
557
676
1,042
1,129
PBT
2,047
1,709
1,875
1,648
1,795
1,972
1,856
1,360
1,738
1,183
1,112
1,201
1,074
Tax %
18%
17%
18%
26%
24%
21%
11%
27%
22%
23%
26%
47%
—
Net Profit
1,677
1,411
1,545
1,225
1,367
1,567
1,646
990
1,359
911
818
642
639
EPS in Rs
4.05
3.41
3.73
3.12
3.47
3.99
4.19
2.52
3.46
2.32
2.09
1.63
1.62
Div. Payout %
26%
32%
74%
122%
62%
55%
53%
68%
51%
78%
70%
92%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
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
6,066
7,166
7,353
6,770
7,316
8,121
8,861
9,241
9,930
10,141
10,249
10,309
Borrowings
2,648
2,646
2,416
2,231
2,155
2,238
2,174
6,906
14,059
20,323
27,025
32,278
Other Liabilities
1,781
1,440
1,486
1,460
1,572
1,666
2,508
3,172
4,392
4,797
4,859
5,248
Total Liabilities
14,632
15,389
15,392
14,391
14,974
15,955
17,473
23,248
32,311
39,191
46,063
51,766
Fixed Assets
9,054
8,775
8,425
8,087
8,142
8,051
8,007
7,866
8,489
10,906
11,610
23,459
CWIP
429
505
661
944
1,303
2,265
4,298
8,369
15,674
20,033
26,414
19,155
Investments
3
36
90
120
160
195
222
275
36
37
61
52
Other Assets
5,147
6,073
6,216
5,239
5,368
5,444
4,946
6,738
8,112
8,215
7,978
9,100
Total Assets
14,632
15,389
15,392
14,391
14,974
15,955
17,473
23,248
32,311
39,191
46,063
51,766
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,492
2,209
2,376
1,641
1,018
1,714
1,983
2,138
1,632
1,310
2,483
1,860
Investing
-304
-768
-1,199
15
-34
-95
-1,145
-6,132
-6,877
-5,502
-6,430
-3,481
Financing
-746
-705
-1,621
-2,272
-1,107
-1,345
-1,105
3,669
5,559
4,502
3,939
2,385
Net Cash Flow
442
736
-444
-616
-123
273
-267
-325
314
309
-8
763
Free Cash Flow
996
1,486
2,376
1,292
244
445
-83
-2,290
-5,212
-4,340
-4,186
-3,839
CFO/OP
79
126
124
118
70
103
122
140
87
86
119
63
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
195
147
83
47
38
101
77
87
34
89
34
162
Cash Conversion Cycle
195
147
83
47
38
101
77
87
34
89
34
162
Working Capital Days
104
120
40
3
61
38
-46
-215
-395
-418
-409
-467
ROCE %
18%
13%
14%
13%
16%
15%
15%
9%
9%
5%
5%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others0.74%Promot.81.85%FIIs2.79%DIIs3.74%Public10.88%As ofJun 2026

Documents

Frequently Asked Questions about SJVN

What does SJVN Ltd do?
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]
Where is SJVN Ltd (SJVN) listed?
SJVN Ltd trades as SJVN on the NSE and under code 533206 on the BSE.
Which sector does SJVN Ltd belong to?
SJVN Ltd is classified under the Utilities sector, in the Power industry.
What is the market capitalisation of SJVN Ltd?
SJVN Ltd has a market capitalisation of ₹26,153 Cr, which places it in the Large Cap band.
What is the PE ratio of SJVN Ltd?
SJVN Ltd trades at a PE ratio of 40.85, on earnings per share of ₹2.35, against a book value of ₹36.23 per share.
What is the 52-week high and low of SJVN Ltd?
Over the last 52 weeks SJVN Ltd has traded between ₹63.02 and ₹95.58.
Does SJVN Ltd pay dividends?
SJVN Ltd has a dividend yield of 2.23%.
What is the Return on Equity (ROE) of SJVN Ltd?
SJVN Ltd reported a return on equity of 4.50%. Its debt-to-equity ratio is 2.27.

Company Information

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]

Website sjvn.nic.in
CEO Mr. Soumendra Das
Employees 1,349
Listed 2010-05-20
Face Value ₹ 10
Issued Size 3,92,97,95,175

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