Sjvn Limited
SJVN, a Miniratna, category-I and schedule – A central public sector entity under the administrative control of the Ministry of Power, was incorporated on May 24, 1988, as a JV of the central government and Himachal Pradesh state government. SJVN is ...
Key Metrics
EPS
2.32
Current ratio
1.19
Debt/Equity
1.79
Debt/EBITDA
11.30
Interest coverage ratio
3.45
Operating Cashflow to total debt
0.06
Financials
Pros & Cons
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Here's what we like about this company and potential risks we have identified.
Pros
Strong business risk profile, driven by stable cash flow
Strategic importance to, and support from, the government
Strong financial risk profile (Significant equity infusion leading to substantial improvement in the financial risk profile)
Timely commissioning of the under-construction projects within stipulated costs
Improvement in operating cashflow post commissioning of new projects, leading to reduction in net debt to operating earnings before interest, tax, depreciation and amortisation (Ebitda) to below 4 times on sustained basis.
Liquidity: Superior
Cons
Exposure to project risks
Receivables position improved, albeit credit profiles of counterparties remain weak
Cost and time overruns in the under-construction projects resulting in significant increase in net debt to operating Ebitda on sustained basis
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About Sjvn Limited bond.
This comprehensive profile covers key factual information about Sjvn Limited. SJVN, a Miniratna, category-I and schedule – A central public sector entity under the administrative control of the Ministry of Power, was incorporated on May 24, 1988, as a JV of the central government and Himachal Pradesh state government. SJVN is now a listed company with 55% and 26.85% shares, respectively, with these two governments and the remaining 18.15% with the public. The company operates in the power generation segment with total hydropower capacity of 1,972 MW in Himachal Pradesh and Uttarakhand, wind capacity of 97.6 MW in Maharashtra and Gujarat and solar capacity of 306.9 MW in Gujarat, Himachal Pradesh and Uttar Pradesh. In addition, it operates a 86-km 400 KV transmission line across the Indo-Nepal border through a JV with Power Grid Corporation of India Ltd and IL&FS. SJVN is presently implementing hydro, thermal and solar power projects in north and west states of India as well as in neighbouring Nepal. EPS in Mar-2024 was 2.32. Current ratio in Mar-2024 was 1.19. Debt/Equity in Mar-2024 was 1.79. Debt/EBITDA in Mar-2024 was 11.30. Interest coverage ratio in Mar-2024 was 3.45. Operating Cashflow to total debt in Mar-2024 was 0.06. Total revenue for Mar-2025(E) was ₹3370.63. Net income for Mar-2025(E) stood at ₹1008.15. Total assets as of Mar-2024 were ₹39,191.25. Operating cash flow for Mar-2024 was ₹1,309.53. The company’s borrowing relationships include State Bank of India (₹N/A Cr), Punjab National Bank (₹N/A Cr), Bank of Baroda (₹N/A Cr), State Bank of India (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), South Indian Bank Limited (₹N/A Cr), Union Bank of India (₹N/A Cr), Central Bank of India (₹N/A Cr), State Bank of India (₹N/A Cr), Axis Bank Limited (₹N/A Cr). Peers and comparison entities consist of Sjvn Limited, Adani Green Energy Limited, Ntpc Green Energy Limited, NHPC Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Strong business risk profile, driven by stable cash flow; Strategic importance to, and support from, the government; Strong financial risk profile (Significant equity infusion leading to substantial improvement in the financial risk profile); Timely commissioning of the under-construction projects within stipulated costs; Improvement in operating cashflow post commissioning of new projects, leading to reduction in net debt to operating earnings before interest, tax, depreciation and amortisation (Ebitda) to below 4 times on sustained basis.; Liquidity: Superior. Key risks include: Exposure to project risks; Receivables position improved, albeit credit profiles of counterparties remain weak; Cost and time overruns in the under-construction projects resulting in significant increase in net debt to operating Ebitda on sustained basis. Leadership team details include Akhileshwar Singh (Director - Finance), Arindam Chaudhary (Government Nominee Director), Danveer Singh Yadav (Independent Director), Mohammad Afzal (Government Nominee Director), Saroj Ranjan Sinha (Independent Director), Shashikant Jagannath Wani (Independent Director), Soumendra Das (Company Secretary & Compliance Officer), Sushil Sharma (Chairman & Managing Director), Udeeta Tyagi (Independent Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.