SJVN Targets A Capex Of Rs 10,000 Crore In FY2023-24

Shimla: Share price of SJVN hit an all-time high in September and the Union Government having off-loaded 4.92% stake in the PSU, the buoyant management here stated that against a record capex of Rs 8,240 crore in 2022-23, capex in the current year would exceed Rs 10,000/- as several projects reach commissioning stage over the next three years.

After holding its AGM on Thursday, the SJVM team led of Nand Lal Sharma, Chairman & Managing Director addressed a well-attended media briefing on Saturday, disclosing details of the company future expansion plans.

Sharma said that by 2026, SJVN would have over 12,000 MW operational power generation capacity. Currently the company has a total capacity of 2091 MW, consisting of 1912 MW Hydro Power, 97.6 MW of Wind Power and 81.9 MW of Solar power.

In the first year, SJVN is expected to commission projects totalling about 1500 MW, in the second year about 5200 MW and in the third year about 3300 MW said Sharma.

With the company having reported a net profit (Profit after Tax) of Rs 1363.45 crores for FY 2022-23, against a profit of Rs 977.52 crore in the previous financial year, marking a 39.48 % jump, Sharma said that the company had received claims for arrears in the year, which contributed toward other income of the company.

The company had also received Rs 43.63 crores under deviation settlement mechanism in the last financial year, he added.

The revenue from operations in the last financial year was Rs 2935.41 crore, recording a 21.19% increase over a revenue of Rs 2421.96 crore recorded in the FY 2021-22. However, the total revenue for the company.

Sharma said that in the FY 2022-23 SJVN had added 24 new projects aggregating 23,909 MW to its. “This is the highest addition made in a single year,” he added.

Having signed memorandum of understanding for more projects in the current year, SJVNs current portfolio stands at stands at 85 projects aggregating 58144 MW besides owning 3 Transmission lines of 340 Kms length.

This is the highest aggregate portfolio ever of the company,” said Sharma. The Arunachal Pradesh government has allotted 5 hydro with a total generation capacity of 5097 MW, he added.

For 2022-23 SJVN declared a dividend of Rs 1.77 per share.

From a hydropower generation company, SJVN has diversified into other renewable verticals, and is giving thrust to become a major Solar Power developer in the years ahead.

Coming out with an IPO May 2010, the stock listed at Rs 24. It made an all-time high of Rs 83.65 on September, prompting the promoter government of India to off-load 19.33 crore (4.92%) shares by a two day offer for sale (OFS) at a floor price of Rs 69. After the OFS, SJVN share on Friday (29.9.2023) closed at Rs 73.15.

Government of Himachal Pradesh among the promotor group of the company holds 26.85% shares in SJVN. After the OFS, shareholding of the union government has dropped from 59.92 in June quarter to 55 % and the balance 18.15% shares are with the public.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.