SJVNL market capitalization surges to 28,750 Crores
Shimla, Oct 1,
Satluj Jal Vidhut Nigam Limited (SJVNL), a prominent public sector joint company, has witnessed a remarkable increase in its market capitalization over the past 25 years. This surge comes as a result of the remarkable growth in the share value of this publicly listed mini blue-chip firm, which has soared by an impressive 225 percent in the last three years.
Nand Lal Sharma, the Chief Managing Director of SJVNL, made this announcement while addressing the media on Saturday. He attributed the company’s capitalization growth to the commissioning of its first hydropower project in Himachal Pradesh in 2002. As of today, the company’s market capitalization stands at a substantial 28,750 Crores. SJVNL was listed on the National Stock Exchange 13 years ago, and its share value has surged by 225 percent in the past three years alone.
The public equity in the company currently stands at approximately 18 percent, and it has consistently provided a 50 percent profit to its shareholders annually. Over its 25-year existence, the firm has distributed dividends of more than 9,000 Crores to its shareholders.
SJVNL boasts total assets of around 23,000 Crores, with investments from the Central government amounting to approximately 6,600 Crores, the Himachal Pradesh government investing 1,055 Crores, and public investment in the form of equity reaching 2,541 Crores. Sharma revealed that the firm is set to provide direct dividends amounting to 980 Crores in the current financial year.
He highlighted the significant increase in capital expenditure (Capex), stating that in 2014, the Capex was around 400 Crores, but it has since surged to 8,340 Crores per annum. The company aims to further increase its Capex to a target of 10,000 Crores per annum. Additionally, SJVNL has plans to make substantial investments of around 2.55 lakh Crores in power projects by 2025, with an additional 20,000 Crores in Capex after three years. Sharma emphasized that SJVNL is not only achieving milestones in power generation but also playing a vital role in India’s goal of becoming a five trillion-dollar economy by 2025.
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The firm currently provides direct employment to 2,000 people and supports approximately 25,000 indirect or associated jobs. With the expansion of its power generation capacity, it is expected that the company will increase its staff strength further.
Despite recent heavy rainfall causing losses in Himachal Pradesh, SJVNL’s assets have been relatively unscathed compared to other power projects. The firm had to suspend operations temporarily due to increased silt or turbidity in the Satluj River, which posed a danger to its run-of-river dam projects. SJVNL has taken measures to address this issue by setting up water level and silt reading labs at strategic locations.
Regarding the new energy policy of the Himachal Pradesh Government and the demand for the transfer of power projects after 40 years, Sharma refrained from commenting, citing the matter’s pending status in the Himachal Pradesh High Court.
As of the end of 2023, SJVNL boasts a total installed capacity of 5,000 MW from both hydro and fossil fuel power plants. The company’s Plant Achievement Factor (PAF) exceeds 106 percent, generating approximately 9,335.163 million units annually, surpassing the designed energy of 8,705.88 million units. Various projects, including the Nathpa Jakhari Power Project, Rampur, and renewable power projects, continue to contribute to its impressive capacity.
SJVNL has commissioned 1,912 MW in two hydro projects, 179.5 MW in renewable power projects, and plans to commission an additional 1,455 MW and 37 km of transmission lines in the current financial year.
The company’s ambitious targets include achieving 25,000 MW of power projects by 2030 and an impressive 50,000 MW by 2050. The plan also includes adding 400 MW of power projects in one year and 1,200 MW in three years. SJVNL aims to expand its portfolio from 6,000 MW to 8,000 MW, with a projected increase of 1,500 MW by the next year and 3,300 MW in hydro and fossil fuel projects within three years.
Sharma emphasized that SJVNL is now competing with major power companies from Japan and China. The company has undergone complete diversification and is currently operational in 16 states and three countries. Furthermore, SJVNL is in the advanced stages of commissioning the first phase of Arun Stage One and is collaborating on a 10,000 MW power project in Nepal. In the near future, India is poised to become the first country in Asia to import power from Nepal to Himachal Pradesh.
This ambitious growth plan underscores SJVNL’s commitment to becoming a significant player in the power sector and contributing to India’s energy needs and economic growth.
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very informative.
Excellent Research & Projections, SJVN LTD