SJVN

₹109 -1 | 0.9%

WEBSITE BSE:533206 NSE : SJVN 26 Dec, 16:01

Market Cap ₹42815 Cr.

Stock P/E 47.0

P/B 2.9

Current Price ₹109

Book Value ₹ 37.2

Face Value 10

52W High ₹170.5

Dividend Yield 1.65%

52W Low ₹ 88.9

Edit Ratio

SJVN Research see more...

Equity Research: SJVN

Overview Inc. Year: 1988Industry: Power Generation/Distribution

SJVN Ltd, together with its subsidiaries, engages inside the generation and sale of power in India, Nepal, and Bhutan. It operates the Nathpa Jhakri Hydro Power Station with a potential of 1500 MW situated in Shimla district, Himachal Pradesh, India; and the Rampur Hydro Power Station with an set up ability of 412 MW in Kullu District, Himachal Pradesh. The agency additionally operates the Khirvire Wind Power Project with a ability of 47.6 MW in Ahmednagar district, Maharashtra; the Sadla Wind Power Project with an installed ability of 50 MW in Surendranagar district, Gujrat; the Charanka Solar Power Plant with a capability of 5.6 MW in Patan district, Gujarat; and an 86 km cross border transmission line with a ability of 400 kV from Muzaffarpur to Sursand. In addition, it offers consultancy offerings within the area of hydro electric initiatives, motorway tunnels, railway tunnels, etc. The agency was previously referred to as Satluj Jal Vidyut Nigam Ltd and changed its name to SJVN Limited in September 2009. SJVN Ltd was incorporated in 1988 and is primarily based in Shimla, India.

SJVN Share Price

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Peer Comparison

SJVN Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	1004	878	552	504	675	878	543	483	870	1026
Other Income	68	38	159	79	70	73	64	90	88	82
Total Income	1072	916	711	583	744	952	608	573	958	1108
Total Expenditure	176	166	171	195	172	172	175	243	203	198
Operating Profit	896	750	540	388	572	779	433	330	756	911
Interest	144	117	105	49	90	124	122	121	143	198
Depreciation	100	105	105	86	101	102	112	242	131	133
Exceptional Income / Expenses	0	0	-18	-12	0	0	-25	104	0	0
Profit Before Tax	651	529	312	242	382	553	173	70	482	580
Provision for Tax	82	131	60	95	91	129	44	-3	105	150
Profit After Tax	569	397	252	147	290	424	129	73	377	430
Adjustments	40	48	35	-130	-19	15	10	-12	-20	11
Profit After Adjustments	609	445	287	17	272	440	139	61	357	441
Adjusted Earnings Per Share	1.6	1.1	0.7	0	0.7	1.1	0.4	0.2	0.9	1.1

SJVN Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	1874	2817	2494	2679	2229	2645	2703	2485	2417	2938	2579	2922
Other Income	238	446	538	439	407	478	594	1064	218	344	298	324
Total Income	2112	3264	3032	3118	2635	3122	3296	3550	2635	3283	2877	3247
Total Expenditure	270	379	432	512	525	634	596	641	626	674	737	819
Operating Profit	1841	2885	2600	2606	2110	2489	2700	2908	2008	2609	2140	2430
Interest	29	65	218	55	101	251	344	98	226	449	482	584
Depreciation	475	641	677	680	365	390	384	393	404	396	557	618
Exceptional Income / Expenses	0	-132	0	0	0	-57	-6	-293	-67	-40	69	79
Profit Before Tax	1338	2047	1709	1875	1648	1795	1972	2128	1316	1727	1174	1305
Provision for Tax	224	371	298	330	423	428	405	482	326	368	262	296
Profit After Tax	1114	1677	1411	1545	1225	1367	1567	1646	990	1359	911	1009
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-11
Profit After Adjustments	1114	1677	1411	1545	1225	1367	1567	1646	990	1359	911	998
Adjusted Earnings Per Share	2.7	4.1	3.4	3.7	3.1	3.5	4	4.2	2.5	3.5	2.3	2.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-12%	1%	-1%	3%
Operating Profit CAGR	-18%	-10%	-3%	2%
PAT CAGR	-33%	-18%	-8%	-2%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	19%	56%	34%	16%
ROE Average	7%	8%	10%	12%
ROCE Average	5%	8%	11%	13%

SJVN Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	9050	10203	11302	11490	10700	11246	12051	12791	13170	13860	14071
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	2214	2481	2464	2229	2035	1940	1972	1856	6170	13248	19690
Other Non-Current Liabilities	709	661	601	451	486	2488	1213	1829	2400	975	1622
Total Current Liabilities	2151	1949	1979	2509	2876	900	987	1804	2625	4269	4103
Total Liabilities	14123	15294	16347	16679	16098	16575	16224	18280	24365	32352	39486
Fixed Assets	5670	9054	8775	8425	8087	8142	8051	8007	7866	8489	10906
Other Non-Current Assets	4228	631	886	1133	1501	3787	4036	7475	12381	19028	23683
Total Current Assets	4226	5609	6686	7121	6509	4645	4136	2799	4103	4818	4896
Total Assets	14123	15294	16347	16679	16098	16575	16224	18280	24365	32352	39486

SJVN Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	2424	2416	486	1222	778	162	39	313	46	-279	36
Cash Flow from Operating Activities	1279	1492	2209	2376	1641	1018	1714	1983	2138	1606	1310
Cash Flow from Investing Activities	-879	-304	-768	-1199	15	-34	-95	-1145	-6132	-6851	-5502
Cash Flow from Financing Activities	-409	-746	-705	-1621	-2272	-1107	-1345	-1105	3669	5559	4502
Net Cash Inflow / Outflow	-8	442	736	-444	-616	-123	273	-267	-325	314	309
Closing Cash & Cash Equivalent	2416	2858	1222	778	162	39	313	46	-279	36	345

SJVN Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	2.69	4.05	3.41	3.74	3.12	3.48	3.99	4.19	2.52	3.46	2.32
CEPS(Rs)	3.84	5.6	5.05	5.38	4.04	4.47	4.96	5.19	3.55	4.47	3.74
DPS(Rs)	0.98	1.05	1.1	2.75	2.1	2.15	2.2	2.2	1.7	1.77	1.8
Book NAV/Share(Rs)	21.88	24.66	27.32	27.78	27.23	28.62	30.67	32.55	33.51	35.27	35.81
Core EBITDA Margin(%)	85.57	86.56	82.68	80.9	76.46	76.04	77.94	74.19	74.08	77.06	71.41
EBIT Margin(%)	72.96	74.95	77.27	72.05	78.48	77.34	85.68	89.54	63.78	74.07	64.19
Pre Tax Margin(%)	71.42	72.66	68.51	69.99	73.96	67.86	72.94	85.61	54.45	58.79	45.5
PAT Margin (%)	59.49	59.51	56.57	57.68	54.95	51.67	57.97	66.22	40.95	46.26	35.34
Cash Profit Margin (%)	84.81	82.26	83.72	83.06	71.31	66.43	72.18	82.04	57.68	59.75	56.94
ROA(%)	8.2	11.4	8.92	9.36	7.47	8.37	9.55	9.54	4.64	4.79	2.54
ROE(%)	12.77	17.42	13.12	13.56	11.04	12.45	13.45	13.25	7.63	10.06	6.53
ROCE(%)	12.38	17.34	14.38	13.86	13.03	15.53	16.74	15.24	8.81	9.08	5.33
Receivable days	71.41	121.88	183.55	109.95	73.85	39.03	68.94	92.99	82.83	52.91	31.41
Inventory Days	6.27	4.57	5.56	5.37	7.38	6.58	6.37	7.76	8.97	8.41	10.94
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	7.79	6.08	8.4	9.06	10.7	6.96	5.19	6.22	10.9	9.61	52.34
Price/Book(x)	0.96	1	1.05	1.22	1.22	0.85	0.68	0.8	0.82	0.94	3.39
Dividend Yield(%)	4.67	4.26	3.84	8.12	6.3	8.88	10.63	8.45	6.19	5.32	1.48
EV/Net Sales(x)	4.66	3.54	4.25	4.52	5.26	3.29	2.96	4.46	6.11	7.94	24.89
EV/Core EBITDA(x)	4.74	3.46	4.08	4.64	5.55	3.5	2.97	3.81	7.36	8.94	30.01
Net Sales Growth(%)	6.63	50.38	-11.48	7.43	-16.82	18.67	2.2	-8.04	-2.75	21.57	-12.22
EBIT Growth(%)	10.36	54.49	-8.74	0.17	-9.39	16.95	13.22	-3.9	-30.73	41.19	-23.92
PAT Growth(%)	5.91	50.44	-15.86	9.53	-20.75	11.59	14.65	5.04	-39.86	37.33	-32.95
EPS Growth(%)	5.9	50.44	-15.86	9.53	-16.58	11.59	14.65	5.04	-39.86	37.33	-32.95
Debt/Equity(x)	0.27	0.26	0.23	0.21	0.21	0.19	0.18	0.17	0.52	1.01	1.44
Current Ratio(x)	1.96	2.88	3.38	2.84	2.26	5.16	4.19	1.55	1.56	1.13	1.19
Quick Ratio(x)	1.95	2.86	3.36	2.82	2.25	5.11	4.14	1.52	1.54	1.11	1.17
Interest Cover(x)	47.33	32.71	8.82	34.98	17.34	8.16	6.73	22.79	6.84	4.85	3.43
Total Debt/Mcap(x)	0.28	0.26	0.22	0.17	0.17	0.23	0.27	0.21	0.64	1.07	0.42

SJVN Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	86.77	86.77	86.77	86.77	86.77	81.85	81.85	81.85	81.85	81.85
FII	2.93	2.96	2.31	1.76	1.39	0.91	1.68	2.36	2.39	2.38
DII	3.42	3.84	3.81	4.06	4.33	5.73	5.97	3.35	3.94	4.29
Public	6.88	6.43	7.11	7.41	7.51	11.51	10.51	12.44	11.83	11.48
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	340.98	340.98	340.98	340.98	340.98	321.65	321.64	321.64	321.64	321.64
FII	11.5	11.64	9.07	6.9	5.47	3.59	6.6	9.28	9.4	9.36
DII	13.45	15.07	14.97	15.97	17	22.52	23.46	13.18	15.47	16.87
Public	27.05	25.28	27.95	29.13	29.52	45.22	41.28	48.88	46.48	45.11
Others	0	0	0	0	0	0	0	0	0	0
Total	392.98	392.98	392.98	392.98	392.98	392.98	392.98	392.98	392.98	392.98

Pros

Cons

Company has a low return on equity of 8% over the last 3 years.
The company has delivered a poor profit growth of -7% over past five years.

* 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.