Share price of a company engaged in the business of electricity generation moved up by nearly 1.35 percent to Rs. 123.20 on BSE in the morning trading session of Friday, compared to its previous close of Rs. 121.55.
With a market capitalisation of Rs. 47,275 crore, the company has delivered positive returns of nearly 105.83 percent in the last six months, and over 279.2 percent in the last one year. So far in 2024, it has given positive returns of around 29.2 percent.
According to the stock exchange filings, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Limited, has commissioned and achieved COD for its 50 MW Gujrai Solar Power Project located in Kanpur, Uttar Pradesh.
The subsidiary of SJVN won this 50 MW Solar Power Project at a tariff of Rs. 2.98 per unit through Competitive Tariff bidding held by Uttar Pradesh New & Renewable Development Agency (UPNEDA).
In addition, the Power Purchase Agreement for the same has been signed with Uttar Pradesh Power Corporation Limited (UPPCL) for the term of 25 years.
The construction cost for this solar power project is Rs. 281 crores and is expected to generate 107 MUs in the first year, with an estimated total energy generation of 2,477 MUs over the next 25 years.
In terms of financials, the revenue from operations of the company reduced by 38.15 percent QoQ from Rs. 878 crore in Q2 FY23-24 to Rs. 543 crore in Q3 FY23-24, accompanied by a decrease in the net profit by nearly 68.4 percent to Rs. 139 crore in Q3 FY23-24 from Rs. 440 crore in Q2 FY22-23.
As of December 2023, FIIs hold 1.68 percent of the shares, whereas DIIs hold 5.97 percent of the shares in the company, aggregating to 7.65 percent of the institutional holdings.
Established in 1988 as a joint venture of the Government of India and the Government of Himachal Pradesh, SJVN Limited is under the control of the Ministry of Power and is a public sector undertaking (PSU).
Written by Shivani Singh
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