Multibagger PSU Stock Jumps 12.70% On Winning GUVNL Auction For Solar Project

Multibagger PSU Miniratna company SJVN Ltd shares today surged 12.70% after it won Gujarat Urja Vikas Nigam Limited ("GUVNL") auction for 100 MW Solar Project. Last trading price of SJVN shares on BSE is Rs 131.46 apiece with intraday gain of 12.70%. SJVN shares also hit fresh 52-week high in trade today and witnessed spurt in volume by more than 1.87 times. SJVN shares rallied 135% in last 6-months and soared 286% in last 1-year. The company has a market capitalisation of Rs 51,617.86 crore. Check details given below:

SJVN Wins GUVNL Auction For 100 MW Solar Project: According to the BSE filing of the company dated January 25, 2024, "The Company successfully bagged 100 MW Solar Project @Rs 2.54/Unit on Build Own and Operate basis through a tariff based competitive bidding process of GUVNL Phase XXI. This Ground Mounted Solar Project shall be developed by the Company through its wholly owned subsidiary i.e., SJVN Green Energy Limited ("SGEL") at a tentative cost of Rs 550 crores. The project shall be executed by SGEL in Solar Park being developed by Gujarat Industrial Power Corporation Limited in Khavda, Gujarat through EPC contract. The Power Purchase Agreement shall be executed after issuance of Letter of Award from GUVNL."

The project is expected to generate about 252 million units in its first year of commissioning and the cumulative energy generation over a period of 25 years would be about 5,866 million units. Further, the commissioning of this solar project is anticipated to reduce 2,87,463 tonnes of carbon emissions, added the BSE filing of SJVN.

With this addition, the Company's project portfolio stands at 59,872 MW. The Company is marching forward tirelessly to achieve its New Mission of 12,000 MW by 2026 and Shared Vision of 25,000 MW by 2030 & 50,000 MW installed capacity by 2040, stated SJVN's exchange filing.

SJVN Ltd Stock Performance & Return: The 52-week high price of SJVN Ltd shares on BSE is Rs 134.36 per share and 52-week low price is Rs 30.39 per share, respectively. SJVN Ltd shares offered shareholders robust returns in just last 6-months span. In last 3-months, SJVN shares rallied 89%, soared 135% in last 6-months, gained 336% in last 2-years, and rose 426% in last 3-years. In last 5-years, the scrip jumped 409%.

SJVN Financials: The state-owed company for the quarter ended September 30, 2023 declared its net profit at Rs 439.6 crore, down 1.3% year-on-year (YoY) from Rs 445.4 crore reported in the corresponding quarter of last year, as per its regulatory filing. Meanwhile, at the operating level, EBITDA fell 0.9% to Rs 706.2 crore for quarter under review as against Rs 712.6 crore in the corresponding period of last year. EBITDA margin stood at 80.4% in the reporting quarter against 81.1% in the corresponding period of the last fiscal.

SJVN Ltd About: It is a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of Ministry of Power, Govt. of India, was incorporated on May 24, 1988 as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). SJVN is now a listed Company having shareholders pattern of 55.00% with Govt. of India, 26.85% with Govt. of Himachal Pradesh and rest of 18.15% with Public. SJVN is presently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and Madhya Pradesh in India besides neighboring country of Nepal, according to its official website.

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