Enclosed
SJVN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SJVN Limited has corrected typographical errors where "Unaudited" was mistakenly used instead of "Audited" in three places within the originally submitted financial results. Standalone FY26 revenue grew 22.3% to Rs 3,544.52 crore (vs Rs 2,897.25 crore), while profit before tax increased 25.7% to Rs 1,629.85 crore (vs Rs 1,296.10 crore). However, standalone PAT grew only 3.9% to Rs 1,007.90 crore. Consolidated revenue rose 47.4% to Rs 4,528.29 crore but consolidated PAT declined 21.5% to Rs 641.85 crore (vs Rs 818.02 crore). Auditors issued Emphasis of Matter on multiple issues: pending NJHPS tariff order, Etalin HEP reassignment to NHPC (Rs 736.97 crore assets held for sale), Devasari HEP on hold (Rs 251.38 crore), and three HP projects at risk of being taken back (Rs 3,932.14 crore in PPE/CWIP). Impairment losses of Rs 174.11 crore (standalone) and Rs 235.86 crore (consolidated) were recognized.
Revenue growth of 22%+ is strong, but PAT growth lags due to higher finance costs and impairment charges. The multiple project uncertainties and reliance on provisional tariff billing create business risk. However, the company remains fundamentally sound with DSCR of 2.18 and ISCR of 3.48. The filing is a correction and contains no changes to actual financials.