Rs 1.15/Share Dividend: Multibagger PSU Declares 51% Drop In Net, Shares Fall 6.67%

Miniratna public sector undertaking SJVN Ltd shares witnessed a decline of 6.67% intraday today after the state-run firm declared a decline of 51.6% year-on-year (YoY) in its net profit at Rs 139 crore for quarter ended December 31, 2023. The company announced its net profit at Rs 287 crore in the corresponding quarter of last year, as per its BSE filing.

SJVN also declared an interim dividend of Rs 1.15 apiece for the financial year 2023-24. Last trading price of SJVN shares on BSE is Rs 140.60 apiece. SJVN stock offered return of 88% in last 3-months. Check details below:

SJVN Ltd Declares Interim Dividend: As per the BSE filing of the company dated February 9, 2024, "Further in terms of Regulation 30 and Regulation 42 of the SEBI Listing Regulations, we would like to inform that the Board of Directors in the aforesaid meeting have also approved interim dividend of Rs 1.15/- per equity share for the Financial Year 2023-24. The record date for the same is fixed on 21.02.2024. The payment of dividend shall start from 04.03.2024 onwards."

SJVN Q3: The PSU declared its revenue from operations fell 1.6% to Rs 543.3 crore as compared to Rs 552 crore in the similar quarter of last fiscal. At the operating level, EBITDA fell 3.2% to Rs 368.5 crore for the quarter ended December 31, 2023 as against Rs 380.6 crore in the similar quarter of last year. EBITDA margin of SJVN declared at 67.8% for the quarter under review as compared to 69% in the corresponding quarter of last fiscal.

SJVN Shares Performance & Return: The 52-week high price of SJVN shares on BSE is Rs 170.45 apiece and 52-week low price is Rs 30.39 apiece, respectively. The company has a market capitalisation of Rs 55,252.92 crore. SJVN shares soared 50% in last 1-month, rallied 158% in last 6-months, and rallied 335% in last 1-year. In last 2-years, SJVN shares jumped 350% and soared 434% in last 3-years.

SJVN Gets Letter Of Intent From GUVNL For 200 MW Solar Project: The BSE filing of SJVN dated Feb 7 said, "SJVN Green Energy Limited ("SGEL"), a wholly owned subsidiary of the Company has earlier bagged the initial 100 MW Solar Project through bidding and further 100 MW under Greenshoe option at a tariff of ₹2.63 per unit on Build Own and Operate basis in e-RA conducted by GUVNL in December 2023."
The tentative cost of construction and development of this project is ₹1,100 crores. The Ground Mounted Solar Project shall be developed by SGEL anywhere in India through EPC contract. The Power Purchase Agreement ("PPA") shall be executed with GUVNL after adoption of tariff by GERC. The Project shall be commissioned in a period of 18 Months from the date of signing of PPA. The PPA shall be signed between GUVNL and SGEL for 25 years, added the BSE filing.

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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