SJVN Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
SJVN · price
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SJVN Limited reported standalone revenue from operations of Rs 3,544.52 crore for FY26, up 22.3% from Rs 2,897.25 crore in FY25. Standalone profit after tax grew 3.9% to Rs 1,007.90 crore. However, consolidated PAT declined 21.5% to Rs 641.85 crore, indicating significant losses in subsidiaries including SJVN Thermal and SJVN Green Energy. The auditors issued an Emphasis of Matter highlighting: pending tariff order for NJHPS affecting revenue recognition, Etalin HEP (3,097 MW) being reassigned to NHPC with Rs 736.97 crore assets held for sale, Devasari project on hold with Rs 251.38 crore spent, and three HP projects where government may renegotiate terms with Rs 3,933 crore in related PPE/CWIP. Impairment loss of Rs 174.11 crore (standalone) and Rs 235.86 crore (consolidated) was recognized. The company also corrected typographical errors where 'Unaudited' appeared instead of 'Audited' in three places.
The standalone business shows healthy growth with PAT up 25.7% and EBITDA margin expansion to 71.67%, but the consolidated decline reflects subsidiary stress. Shareholders should monitor the outcome of government negotiations on HP projects and the pending NJHPS tariff order.