Enclosed
SJVN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SJVN reported FY26 revenue of Rs 3,545 crore (up 22% YoY) and PAT of Rs 1,008 crore (up 4% YoY). Q4 PAT jumped 308% to Rs 125 crore. The company added 1,730 MW capacity in FY26 including 660 MW Buxar thermal Unit 1 (commercial from Nov 2025) and 1,070 MW solar projects including 1,000 MW Bikaner. Total installed capacity now stands at 4,196.5 MW. However, subsidiaries SGEL and Buxar Thermal reported losses of Rs 258 crore and Rs 92 crore respectively due to lower PLF and CUF. Trade receivables surged to Rs 1,299 crore (vs Rs 262 crore YoY). Management guided FY27 capacity addition of ~2,284 MW and FY28 addition of ~650 MW, with Nepal Arun-III hydro targeted for FY29-30 commissioning.
The company is expanding capacity rapidly but near-term profitability is pressured by new thermal and solar plants running below optimal levels. The surge in trade receivables raises cash flow concerns. Investors should watch for Buxar reaching 70%+ PLF and SGEL improving CUF in FY27 for margin recovery.