SJVN clocks highest ever Profit in 2020-21

The company’s Net Profit increased to Rs 1633.04 crore in 2020-21 from Rs 1557.43 crore in 2019-20

GN Bureau | September 29, 2021


#SJVN   #Nand Lal Sharma   #Hydropower   #SJVN Profit   #PSU   #CPSE   #Miniratna  


SJVN, a miniratna CPSE under the ministry of power, has organised its 33rd Annual General Meeting where Chairman and Managing Director Nand Lal Sharma highlighted the achievements of SJVN at its 33rd Annual General Meeting. 

While addressing the stakeholders, Sharma informed that 2020-21 marked its place in history as one of COVID-19 pandemic which unleashed an unprecedented global humanitarian and economic crisis, the Management and the employees of SJVN rose to the occasion to achieve outstanding operational performance by generating 9224 million units of electricity from 5 power stations. The design energy of these power stations is 8700 million units. To combat COVID-19 impact, SJVN spent Rs 52.87 crore on Corporate Social Responsibility (CSR) initiatives in 2020-21.

Speaking about the Financial Performance, he said SJVN clocked its highest ever Profit Before Tax (PAT) of Rs 2168.67 crore in FY 2020-21. The company’s Net Profit increased to Rs 1633.04 crore in 2020-21 from Rs 1557.43 crore in 2019-20 and the Earnings Per Share (EPS) increased from Rs 3.96 per share in 2019-20 to Rs 4.16 per share in 2020-21. SJVN has declared a dividend of Rs 2.20 per share for 2020-21 of which an interim dividend of Rs 1.80 has already been paid in February 2021.

In the first quarter of FY 2021-22 SJVN’s Standalone Profit Before Tax was Rs 445.07 Crore registering an increase of 15.86% over the corresponding quarter of the previous year. The Standalone Net Profit increased by 12.77% to Rs 339.54 Crore from Rs 301.08 Crore over the June quarter of 2020-21. SJVN net worth at end of June 2021 has jumped to Rs 13100.97 Crore compared to Rs 12332.85 Crore in June 2020.

Regarding the prospects of the company, Sharma said SJVNs project portfolio continues to expand and has crossed 11,000 MWs. In FY 2020-21 and in the first quarter of 2021-22 the company has added new projects of 2525 MW generation capacity to its portfolio. SJVN has been allotted a 679 MW Lower Arun hydroelectric project in the Bhojpur district of Nepal by the Government of Nepal; the 104 MW Tandi Project, 130 MW Rashil Project and the 267 MW Sach Khas hydroelectric project on Chenab Basis, by the Himachal Pradesh government. On 24th September 21, SJVN bagged 1000 MW of Grid-connected Solar PV Power Project floated by the Indian Renewable Energy Development Agency Limited (IREDA).

In its efforts to raise low-cost funds for project financing, SJVN has raised Rs 1000 crores at 6.1% through bonds and is in the process of raising USD 500 million through External Commercial Borrowings (ECB) at1.78%.

The company is executing projects in the Hydro, Thermal, Solar and Wind sector in India, Nepal & Bhutan. The company has chartered a blueprint of its journey and to accomplish the short-medium-long-term objectives SJVN has laid out a Shared Vision of achieving 5000 MW installed capacity by 2023, 12000 MW by 2030 and 25000 MW by 2040.

 

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