SJVN clocks Rs 2,533 cr revenue, Rs 908 cr profit

Satluj Jal Vidyut Nigam (SJVN) Ltd clocked a standalone revenue of Rs 2,533.59 crore and its standalone profit after tax (PAT) stood at Rs 908.40 crore during the 2023-24 financial year, said Sushil Sharma, Chairman and Managing Director, after the 36th annual general meeting (AGM) of the company here today.

Sharma said that the SJVN paid dividend at the rate of Rs 1.80 per share for 2023-24. Its stock performance witnessed a surge of 426 per cent between April 2023 and February 2024, and the shares reached its all-time high of Rs 170.50, boosting its market capitalisation to Rs 67,000 crore on February 5, he added.

Sharma, while addressing the shareholders, highlighted the company’s accomplishments, operational challenges and ambitious growth plans. He expressed gratitude to the shareholders for their unwavering support in achieving the prestigious Navratna status on August 30.

He said that despite facing challenging hydrological conditions due to climate change, the SJVN demonstrated resilience in its operations. “In 2023-24, the company generated 8,489 MUs from its operational hydro, solar and wind power projects. The power stations continued to set new records, including highest-ever daily generation of 39.570 MU and 10.971 MU from 1,500 MW (Nathpa Jakhri) and 412 MW (Rampur) in July 2023,” he added.

The highest-ever monthly generation of 1,590.072 MU was recorded from all operational projects in August, 2023. The Rampur project also achieved the highest-ever monthly generation of 337.165 MU the same month, he added.

Sharma said that the SJVN had expanded its project portfolio to a record 56,802 MW with 89 projects and three transmission lines. Notable achievements included the allotment of 5,097 MW hydropower projects in Arunachal Pradesh, 2,400 MW Darzo Lui Pumped Storage Project in Mizoram and securing 16 renewable projects totalling 4,490 MW.

He said that the SJVN had set ambitious capacity addition targets of achieving 25,000 MW by 2030 and 50,000 MW by 2040, with focus on hydropower, renewable energy and round-the-clock renewable energy solutions. The SJVN’s near-term priorities include the completion of ongoing projects such as the commissioning of 1,320 MW Buxar Thermal Power Project and 10 solar power projects of 2,350 MW in 2024-25.