SJVN Ltd.
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ABOUT
AI Sector View
AI GENERATEDPower
Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.
PROS
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.38x)
- Working capital cycle has improved - days down from -57 to -263
- Company has a consistent dividend-paying track record
CONS
- Company has a high debt-to-equity of 2.25x
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 5.3%
- Company has a low return on equity of 5.6% over last 3 years
- Interest coverage is weak at 1.9x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPOWER | 209.85 | 28.39 | 404689.32 | 0.00 | 4866.60 | 47.24 | 18901.89 | 33.97 | 17.79 | 42.67 |
| NTPC | 333.30 | 11.64 | 323189.88 | 2.70 | 6896.44 | -88.71 | 50740.96 | 7.81 | 8.52 | 33.23 |
| POWERGRID | 269.10 | 15.74 | 250279.25 | 3.34 | 3598.42 | -0.89 | 11496.72 | 2.68 | 9.74 | 82.97 |
| ADANIGREEN | 1282.00 | 118.37 | 211167.98 | 0.00 | 9830.00 | 1092.96 | 44310.00 | 1066.05 | 9.90 | 91.24 |
| ADANIENSOL | 1373.75 | 57.55 | 168003.37 | 0.00 | 1236.56 | 129.44 | 9711.08 | 42.41 | 9.71 | 31.27 |
| TATAPOWER | 365.00 | 30.19 | 116629.89 | 0.68 | 1400.86 | 10.98 | 19051.26 | 5.63 | 11.63 | 21.53 |
| JSWENERGY | 525.45 | 48.97 | 96340.35 | 0.38 | 532.70 | -36.27 | 5207.13 | 1.24 | 8.50 | 55.22 |
| NHPC | 76.30 | 20.19 | 76643.62 | 2.11 | 1178.09 | 4.15 | 3808.31 | 18.50 | 6.16 | 61.80 |
| NTPCGREEN | 86.90 | 120.64 | 73224.80 | 0.00 | 3048.40 | 1282.62 | 11068.60 | 1527.23 | 3.73 | 91.95 |
| TORNTPOWER | 1298.20 | 28.15 | 65416.76 | 1.54 | 661.85 | -10.75 | 8124.15 | 2.75 | 14.37 | 18.93 |
| NLCINDIA | 264.25 | 11.42 | 36641.87 | 1.46 | 436.33 | -48.01 | 4716.75 | 23.29 | 11.27 | 32.83 |
| SJVN | 66.16 | 40.67 | 25999.52 | 2.27 | 2247.40 | 887.52 | 13943.80 | 1419.84 | 5.59 | 63.44 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 675 | 878 | 543 | 483 | 870 | 1,026 | 671 | 504 | 917 | 1,032 | 1,082 | 1,496 | 1,394 | |
| 172 | 172 | 175 | 243 | 203 | 191 | 201 | 264 | 175 | 172 | 244 | 587 | 1,084 | |
| Operating Profit | 503 | 706 | 368 | 240 | 667 | 836 | 470 | 241 | 742 | 860 | 838 | 910 | 311 |
| OPM % | 74.50% | 80.40% | 67.82% | 49.67% | 76.69% | 81.43% | 70.07% | 47.76% | 80.91% | 83.30% | 77.42% | 60.79% | 22.29% |
| 70 | 73 | 39 | 194 | 88 | 82 | 90 | 44 | 54 | 46 | 42 | 52 | 34 | |
| Interest | 90 | 124 | 122 | 121 | 143 | 206 | 229 | 159 | 216 | 315 | 245 | 522 | 326 |
| Depreciation | 101 | 102 | 112 | 242 | 131 | 133 | 137 | 275 | 160 | 171 | 216 | 494 | 247 |
| Profit before Tax | 382 | 553 | 173 | 70 | 482 | 580 | 193 | -149 | 420 | 420 | 419 | -55 | 346 |
| Tax % | 23.96% | 23.34% | 25.55% | -4.06% | 21.72% | 25.85% | 20.76% | 9.25% | 37.36% | 34.51% | 31.61% | -129.76% | 24.92% |
| Net Profit | 0 | 0 | 0 | 0 | 357 | 440 | 149 | -128 | 228 | 308 | 224 | -118 | 225 |
| 0.69 | 1.12 | 0.35 | 0.16 | 0.91 | 1.12 | 0.38 | -0.32 | 0.58 | 0.78 | 0.57 | -0.30 | 0.57 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,679 | 2,228 | 2,645 | 2,703 | 2,485 | 2,417 | 2,938 | 2,579 | 3,072 | 4,528 | 5,005 | |
| 512 | 525 | 634 | 596 | 641 | 626 | 674 | 737 | 851 | 1,179 | 2,087 | |
| Operating Profit | 2,167 | 1,704 | 2,011 | 2,107 | 1,844 | 1,791 | 2,264 | 1,842 | 2,221 | 3,350 | 2,918 |
| OPM % | 80.90% | 76.46% | 76.04% | 77.94% | 74.19% | 74.08% | 77.06% | 71.41% | 72.30% | 73.97% | 58.30% |
| 439 | 407 | 421 | 588 | 771 | 151 | 304 | 367 | 292 | 141 | 175 | |
| Interest | 55 | 101 | 251 | 344 | 98 | 226 | 449 | 482 | 743 | 1,298 | 1,408 |
| Depreciation | 680 | 365 | 390 | 384 | 393 | 404 | 396 | 557 | 676 | 1,042 | 1,129 |
| Profit before Tax | 1,875 | 1,648 | 1,795 | 1,972 | 2,128 | 1,316 | 1,727 | 1,174 | 1,099 | 1,147 | 1,130 |
| Tax % | 17.59% | 25.70% | 23.86% | 20.53% | 22.66% | 24.79% | 21.31% | 22.33% | 25.56% | 44.06% | 38.48% |
| Net Profit | 1,545 | 1,225 | 1,367 | 1,567 | 1,646 | 990 | 1,359 | 911 | 818 | 642 | 695 |
| EPS | 3.74 | 2.97 | 3.48 | 3.99 | 4.19 | 2.52 | 3.46 | 2.32 | 2.09 | 1.63 | — |
| Dividend Payout % | 73.62% | 67.39% | 61.83% | 55.18% | 52.53% | 67.50% | 51.17% | 77.61% | 70.00% | 91.80% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 13%
- 3 Years:
- 16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -8%
- 5 Years:
- -17%
- 3 Years:
- -22%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 20%
- 3 Years:
- -2%
- 1 Year:
- -29%
RETURN ON EQUITY
- 10 Years:
- 10%
- 5 Years:
- 7%
- 3 Years:
- 6%
- Last Year:
- 5%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4,137 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 | 3,930 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 | 10 |
| 7,353 | 6,770 | 7,316 | 8,121 | 8,861 | 9,241 | 9,930 | 10,141 | 10,249 | 10,309 | |
| 3,054 | 2,823 | 2,758 | 2,815 | 2,817 | 7,789 | 14,433 | 20,938 | 27,359 | 29,569 | |
| Trade Payables | 27 | 26 | 24 | 40 | 45 | 37 | 47 | 120 | 199 | 184 |
| 2,107 | 2,549 | 2,546 | 1,318 | 2,627 | 3,369 | 4,013 | 4,357 | 4,667 | 8,043 | |
| Total Liabilities | 16,679 | 16,098 | 16,575 | 16,224 | 18,280 | 24,365 | 32,352 | 39,486 | 46,414 | 52,046 |
| 8,425 | 8,087 | 8,142 | 8,051 | 8,007 | 7,866 | 8,489 | 10,906 | 11,610 | 23,459 | |
| Capital Work in Progress | 659 | 935 | 1,286 | 2,233 | 4,293 | 8,369 | 15,674 | 19,781 | 26,162 | 19,143 |
| 90 | 120 | 160 | 195 | 222 | 275 | 36 | 37 | 61 | 52 | |
| 40 | 50 | 45 | 50 | 56 | 63 | 73 | 82 | 83 | 136 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 627 | 286 | 2,009 | |
| Cash & Bank | 4,320 | 3,615 | 2,967 | 2,335 | 1,306 | 2,902 | 3,731 | 3,750 | 2,963 | 2,523 |
| 3,146 | 3,291 | 3,974 | 3,359 | 4,396 | 4,891 | 4,348 | 4,303 | 5,249 | 4,725 | |
| Total Assets | 16,679 | 16,098 | 16,575 | 16,224 | 18,280 | 24,365 | 32,352 | 39,486 | 46,414 | 52,046 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2,733 | 2,012 | 1,432 | 2,180 | 2,284 | 2,503 | 1,944 | 1,310 | 2,483 | 1,860 | |
| Cash from Investing | -1,199 | 15 | -34 | -95 | -1,145 | -6,132 | -6,851 | -5,502 | -6,430 | -3,481 |
| Cash from Financing | -1,621 | -2,272 | -1,107 | -1,345 | -1,105 | 3,669 | 5,559 | 4,502 | 3,939 | 2,385 |
| -444 | -616 | -123 | 273 | -267 | -325 | 314 | 309 | -8 | 763 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - SJVN Limited has informed the Exchange about Commencement of commercial production/operations
2026-09-10 - SJVN Limited has informed the Exchange regarding Change in Director(s) of the company.
2026-09-02 - SJVN Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-31 - SJVN Limited has informed the Exchange regarding a press release dated August 31, 2026, titled "Successful Completion of 72-Hour Trial Run of 660 MW Unit-2 of 1320 MW Buxar Thermal Power Project in Bihar".
2026-08-31 - SJVN Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026
2026-08-26 - SJVN Limited has informed the Exchange about General Updates
2026-08-12 - SJVN Limited has informed the Exchange regarding a revised press release dated August 11, 2026, titled "SJVN Achieves COD of 75 MW Jamui Solar PowerProject in Bihar".
2026-08-11 - SJVN Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "SJVN Achieves COD of 75 MW Jamui Solar Power Projectin Bihar".
2026-08-07 - SJVN Limited has informed the Exchange about Copy of Newspaper Publication
News
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