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 ₹ 37.1

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.)	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Net Sales	518	704	730	451	345
Other Income	238	108	80	78	92
Total Income	756	812	810	529	436
Total Expenditure	254	109	121	168	93
Operating Profit	502	704	689	361	343
Interest	0	24	30	-18	48
Depreciation	173	92	95	94	85
Exceptional Income / Expenses	0	0	0	0	0
Profit Before Tax	329	588	564	286	211
Provision for Tax	48	136	129	80	78
Profit After Tax	281	451	435	206	133
Adjustments	-281	-451	-435	-206	-133
Profit After Adjustments	0	0	0	0	0
Adjusted Earnings Per Share	0.7	1.1	1.1	0.5	0.3

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	2818	2494	2679	2230	2646	2708	2491	2422	2935	2534	2230
Other Income	238	446	537	488	408	477	581	1049	204	363	300	358
Total Income	2112	3264	3031	3167	2638	3123	3288	3540	2626	3299	2834	2587
Total Expenditure	270	379	432	511	524	633	594	644	629	680	725	491
Operating Profit	1842	2885	2600	2656	2114	2490	2694	2896	1997	2619	2108	2097
Interest	29	65	218	102	101	251	344	98	226	466	479	84
Depreciation	475	641	677	680	365	390	384	393	404	391	534	366
Exceptional Income / Expenses	0	-132	0	0	0	-57	-6	-293	-67	-40	69	0
Profit Before Tax	1338	2047	1704	1874	1648	1793	1959	2111	1300	1722	1164	1649
Provision for Tax	224	371	297	330	423	428	402	478	322	358	256	423
Profit After Tax	1115	1677	1407	1544	1225	1364	1557	1633	978	1363	908	1225
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-1225
Profit After Adjustments	1115	1677	1407	1544	1225	1364	1557	1633	978	1363	908	0
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	3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-14%	1%	-1%	3%
Operating Profit CAGR	-20%	-10%	-3%	1%
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	7%	9%	12%	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	11298	11484	10695	11239	12034	12762	13129	13822	14030
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	2214	2453	2464	2229	2035	1940	1972	1856	4797	6395	9036
Other Non-Current Liabilities	709	660	601	451	486	2488	1149	1658	1955	862	1105
Total Current Liabilities	2148	1940	1975	2500	2856	854	887	1388	2013	2082	1847
Total Liabilities	14120	15256	16338	16664	16073	16522	16042	17664	21894	23161	26019
Fixed Assets	5669	9052	8412	7980	7641	7685	7571	7498	7312	7102	7982
Other Non-Current Assets	4101	459	1152	1396	1927	4265	4293	7740	10445	11230	13844
Total Current Assets	4351	5745	6774	7288	6505	4571	4178	2425	4121	4813	4193
Total Assets	14120	15256	16338	16664	16073	16522	16042	17664	21894	23161	26019

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	2422	2415	486	1217	773	160	35	248	-12	-291	-168
Cash Flow from Operating Activities	1154	1482	2208	2293	1564	1040	1999	2011	1650	1583	1139
Cash Flow from Investing Activities	-753	-277	-772	-1116	95	-58	-440	-1228	-4259	-1812	-2171
Cash Flow from Financing Activities	-409	-764	-705	-1621	-2272	-1107	-1345	-1042	2329	352	1456
Net Cash Inflow / Outflow	-7	441	731	-444	-613	-125	213	-260	-279	123	425
Closing Cash & Cash Equivalent	2415	2856	1217	773	160	35	248	-12	-291	-168	257

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	3.4	3.73	3.12	3.47	3.96	4.16	2.49	3.47	2.31
CEPS(Rs)	3.84	5.6	5.04	5.38	4.04	4.46	4.94	5.16	3.52	4.46	3.67
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	24.67	27.31	27.76	27.21	28.6	30.62	32.47	33.41	35.17	35.7
Core EBITDA Margin(%)	85.57	86.56	82.69	80.92	76.48	76.08	78.05	74.14	74.03	76.83	71.37
EBIT Margin(%)	72.97	74.95	77.09	73.75	78.44	77.2	85.08	88.68	62.97	74.55	64.85
Pre Tax Margin(%)	71.42	72.66	68.33	69.94	73.92	67.74	72.36	84.76	53.66	58.66	45.96
PAT Margin (%)	59.49	59.51	56.43	57.63	54.93	51.55	57.52	65.56	40.36	46.45	35.85
Cash Profit Margin (%)	84.82	82.26	83.58	83.01	71.27	66.3	71.71	81.35	57.05	59.75	56.94
ROA(%)	8.2	11.42	8.91	9.36	7.48	8.37	9.57	9.69	4.94	6.05	3.69
ROE(%)	12.77	17.42	13.09	13.56	11.05	12.44	13.38	13.17	7.55	10.12	6.52
ROCE(%)	12.39	17.36	14.37	14.19	13.04	15.53	16.67	15.15	9.09	11.05	7.37
Receivable days	71.41	121.87	183.55	109.95	73.91	39.09	68.9	92.93	82.74	52.58	31.42
Inventory Days	6.27	4.57	5.56	5.37	7.37	6.58	6.36	7.74	8.95	8.42	11.14
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	7.79	6.08	8.42	9.07	10.7	6.97	5.22	6.27	11.04	9.58	52.52
Price/Book(x)	0.96	1	1.05	1.22	1.23	0.85	0.68	0.8	0.82	0.95	3.4
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	4.26	4.52	5.26	3.31	3.01	4.6	5.57	5.85	21.82
EV/Core EBITDA(x)	4.74	3.45	4.08	4.56	5.55	3.52	3.02	3.95	6.75	6.56	26.22
Net Sales Growth(%)	6.63	50.38	-11.48	7.43	-16.77	18.67	2.31	-8.01	-2.76	21.2	-13.69
EBIT Growth(%)	10.37	54.48	-8.96	2.77	-11.47	16.8	12.75	-4.11	-30.95	43.48	-24.91
PAT Growth(%)	5.92	50.43	-16.07	9.72	-20.68	11.38	14.16	4.85	-40.14	39.48	-33.37
EPS Growth(%)	5.92	50.43	-16.07	9.72	-16.5	11.38	14.15	4.85	-40.14	39.48	-33.37
Debt/Equity(x)	0.27	0.26	0.23	0.21	0.21	0.19	0.18	0.17	0.42	0.52	0.68
Current Ratio(x)	2.03	2.96	3.43	2.92	2.28	5.35	4.71	1.75	2.05	2.31	2.27
Quick Ratio(x)	2.01	2.94	3.41	2.9	2.26	5.3	4.65	1.71	2.02	2.28	2.23
Interest Cover(x)	47.34	32.71	8.8	19.38	17.34	8.15	6.69	22.62	6.76	4.69	3.43
Total Debt/Mcap(x)	0.28	0.26	0.22	0.17	0.17	0.23	0.27	0.21	0.51	0.55	0.2

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.