SJVN Ltd

SJVN Ltd

₹ 131 -0.59%
02 Jul - 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 51,480 Cr.
  • Current Price 131
  • High / Low 170 / 41.4
  • Stock P/E 60.6
  • Book Value 35.8
  • Dividend Yield 1.35 %
  • ROCE 4.98 %
  • ROE 6.09 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 65.4%
  • Debtor days have improved from 48.3 to 23.6 days.

Cons

  • Stock is trading at 3.66 times its book value
  • The company has delivered a poor sales growth of -0.50% over past five years.
  • Company has a low return on equity of 8.03% 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
464 662 882 549 323 1,004 878 552 504 675 878 543 483
222 154 271 171 181 176 166 171 326 192 172 175 256
Operating Profit 241 508 611 379 143 828 713 381 178 483 706 368 227
OPM % 52% 77% 69% 69% 44% 82% 81% 69% 35% 72% 80% 68% 47%
751 59 44 63 75 108 86 177 68 71 89 49 195
Interest 30 26 15 38 82 144 117 105 49 90 124 122 121
Depreciation 97 96 102 102 103 100 105 105 86 101 102 112 242
Profit before tax 866 445 538 301 32 691 577 347 112 363 569 183 58
Tax % 28% 23% 25% 22% 77% 12% 23% 17% 85% 25% 23% 24% -5%
620 342 405 235 7 609 445 287 17 272 440 139 61
EPS in Rs 1.58 0.87 1.03 0.60 0.02 1.55 1.13 0.73 0.04 0.69 1.12 0.35 0.16
Raw PDF

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 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,682 1,872 2,816 2,494 2,679 2,228 2,645 2,703 2,485 2,417 2,938 2,579
242 268 372 431 480 524 606 590 619 623 665 772
Operating Profit 1,440 1,604 2,443 2,063 2,199 1,705 2,039 2,112 1,867 1,794 2,273 1,807
OPM % 86% 86% 87% 83% 82% 76% 77% 78% 75% 74% 77% 70%
245 237 309 541 411 409 397 587 425 195 310 381
Interest 54 29 65 218 55 101 251 344 42 226 449 457
Depreciation 447 475 641 677 680 365 390 384 393 404 396 557
Profit before tax 1,185 1,338 2,047 1,709 1,875 1,648 1,795 1,972 1,856 1,360 1,738 1,174
Tax % 11% 17% 18% 17% 18% 26% 24% 21% 11% 27% 22% 22%
1,052 1,114 1,677 1,411 1,545 1,225 1,367 1,567 1,646 990 1,359 911
EPS in Rs 2.54 2.69 4.05 3.41 3.73 3.12 3.47 3.99 4.19 2.52 3.46 2.32
Dividend Payout % 38% 36% 26% 32% 74% 122% 62% 55% 53% 68% 51% 78%
Compounded Sales Growth
10 Years: 3%
5 Years: -1%
3 Years: 1%
TTM: -12%
Compounded Profit Growth
10 Years: -3%
5 Years: -10%
3 Years: -23%
TTM: -39%
Stock Price CAGR
10 Years: 18%
5 Years: 40%
3 Years: 68%
1 Year: 212%
Return on Equity
10 Years: 12%
5 Years: 10%
3 Years: 8%
Last Year: 6%

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 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 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 4,273 4,914 6,066 7,166 7,353 6,770 7,316 8,121 8,861 9,241 9,930 10,141
2,164 2,457 2,648 2,646 2,416 2,231 2,155 2,238 2,174 6,906 14,059 20,323
1,916 2,053 1,781 1,440 1,486 1,460 1,572 1,666 2,508 3,172 4,392 4,797
Total Liabilities 12,489 13,561 14,632 15,389 15,392 14,391 14,974 15,955 17,473 23,248 32,311 39,191
5,820 5,670 9,054 8,775 8,425 8,087 8,142 8,051 8,007 7,866 8,489 10,906
CWIP 2,982 4,056 429 505 661 944 1,303 2,265 4,298 8,369 15,674 20,033
Investments 5 0 3 36 90 120 160 195 222 275 36 37
3,683 3,835 5,147 6,073 6,216 5,239 5,368 5,444 4,946 6,738 8,112 8,215
Total Assets 12,489 13,561 14,632 15,389 15,392 14,391 14,974 15,955 17,473 23,248 32,311 39,191

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 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,406 1,279 1,492 2,209 2,376 1,641 1,018 1,714 1,983 2,138 1,632 1,310
-665 -879 -304 -768 -1,199 15 -34 -95 -1,145 -6,132 -6,877 -5,502
-207 -408 -746 -705 -1,621 -2,272 -1,107 -1,345 -1,105 3,669 5,559 4,502
Net Cash Flow 534 -8 442 736 -444 -616 -123 273 -267 -325 314 309

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 78 73 195 147 83 47 38 101 77 87 34 24
Inventory Days
Days Payable
Cash Conversion Cycle 78 73 195 147 83 47 38 101 77 87 34 24
Working Capital Days -56 -67 104 120 40 3 61 39 -0 -105 -301 -337
ROCE % 12% 18% 13% 14% 13% 16% 15% 15% 9% 9%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 86.77% 81.85% 81.85% 81.85%
2.40% 2.53% 2.51% 2.65% 2.93% 2.96% 2.31% 1.75% 1.40% 0.91% 1.68% 2.36%
5.29% 4.93% 4.63% 4.00% 3.42% 3.83% 3.81% 4.06% 4.32% 5.74% 5.97% 3.36%
5.54% 5.77% 6.09% 6.59% 6.88% 6.42% 7.11% 7.41% 7.50% 11.51% 10.51% 12.42%
No. of Shareholders 1,67,3011,92,1162,56,0123,09,1803,11,3022,88,2793,12,0243,16,0553,19,1436,20,0236,55,62711,81,241

* 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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