NSE: SJVN · BSE: 533206 · ISIN INE002L01015
SJVN Limited stock analysis
SJVN Limited ranks #2675 in the TickerSutra evidence-ranked universe with a score of 45/100 and 95% data confidence. The latest captured fundamentals show ROCE of 5.7%, quarterly sales growth of 52.0% and quarterly profit growth of -1.3%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- 15.5% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
- Operating margin has compressed materially
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,417cr | ₹1,794cr | ₹990cr | 74.0% |
| 2023 | ₹2,938cr | ₹2,273cr | ₹1,359cr | 77.0% |
| 2024 | ₹2,579cr | ₹1,843cr | ₹911cr | 71.0% |
| 2025 | ₹3,072cr | ₹2,223cr | ₹818cr | 72.0% |
| 2026 | ₹4,528cr | ₹3,361cr | ₹642cr | 74.0% |
| TTM | ₹5,005cr | ₹3,393cr | ₹639cr | 68.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
SJVN Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineSJVN Ltd - 533206 - Board Comments On Fine Levied By The ExchangesBSE · 18 Sept 2026Enclosed
RoutineUpdatesNSE · 18 Sept 2026SJVN Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchanges'.
RoutineSJVN Ltd - 533206 - Announcement under Regulation 30 (LODR)-Change in DirectorateBSE · 10 Sept 2026Extension of Additional Charge of Chairman & Managing Director
RoutineChange in Directors/KMP/SMP/Auditor/RTANSE · 10 Sept 2026SJVN Limited has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA
MANAGEMENT COMMENTARY
Signals from filed documents
Hydropower, with its ability to provide grid balancing, peaking support and energy storage through Pumped Storage Projects (PSPs), is increasingly recognised as the ideal complement to India's rapidly growing solar and wind capacity. Government initiatives, including the Hydro Purchase Obligation, tariff rationalisation for legacy hydropower projects, budgetary support for enabling infrastructure in the Himalayan and
o Generation exceeded design energy by 44.86 MU (17% higher), reflecting strong operational performance. • Solar Power Developments o 1,000 MW Bikaner Solar Power Station (SPS) achieved full capacity commissioning on 24.12.2025. o Bikaner SPS Achieved 1 billion units of cumulative generation on 19.03.2026.
Our flagship 1500 MW Nathpa Jhakri Hydro Power Station continued to set benchmarks in operational excellence by generating 7,506.62 MU, while crossing the historic milestone of 150 Billion Units of cumulative generation since commissioning. The station also maintained an outstanding Plant Availability Factor of 96.84%, significantly exceeding regulatory norms. The 412 MW Rampur Hydro Power Station registered its highes
SJVN's efforts are poised to support India's goal of universal electricity access while contributing to a cleaner energy future. RISKS AND CONCERNS Risk Management Policy of SJVN was approved by the Board in September, 2022 and Risk Management Framework as per ISO 31000:2018 has been implemented. The Policy has been duly supplemented with separate and comprehensive Risk Management Plans for each project/Corporate Offi
• Participate in MNRE’s PLI scheme for green hydrogen. Strategic Value: Future-proof diversification and alignment with global green energy export markets. Transmission and Grid Infrastructure Transmission is a bottleneck for renewable expansion.
Accordingly, assets amounting to `736.97 crore and liabilities amounting to `0.93 crore have been classified under “Assets classified as held for sale” and “Liabilities directly associated with assets classified as held for sale”, respectively. c) Note 2.30 with respect to non-feasibility of the original project plan of Luhri Stage-II HEP, pending approval of revised upstream reservoir elevation by the Government of Him
• Self-declaration by the member for the Tax Year 2026-27 of having no permanent establishment in India in accordance with the applicable tax treaty; • Self-declaration of beneficial ownership by the non-resident shareholder; • Any other documents as prescribed under the IT Act for lower withholding of taxes if applicable, duly attested by member. In case of Foreign Institutional Investors / Foreign Portfolio Investor
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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