The share price of this Power Generation and distribution firm jumped by 3 percent to an Intraday high of Rs 133.35 per share on Thursday after the company signed a Memorandum of Understanding (MOU) with AM Ammonia (India)Private Limited through its subsidiary SJVN Green Energy Limited (SGEL).
With a market capitalization of Rs 52,109 crores, the shares of SJVN Ltd went up by 3 percent and closed at Rs 132.50 a piece on Thursday’s market hours.
As per SJVN’s latest exchange filings, the subsidiary company of SJVN named SJVN Green Energy Limited (SGEL) has signed an MOU with AM Ammonia (India) Private Limited at New Delhi.
The filings mention that AM Ammonia (India) Private Limited, a part of the Greenko Group, is developing a Green Ammonia Platform in Kakinada, Andhra Pradesh.
Initially starting at 1 million tons of Green Ammonia Platforms per year the project aims to expand to 5 million tons of Green Ammonia Platforms by the year 2030. Both parties have agreed to collaborate on supplying renewable energy to the plants based on mutually agreed terms.
SGEL also plans to develop 4,500 MW of renewable energy projects in India. This includes 2,500-3,000 MW of solar projects and 1,500-2,000 MW of wind projects, spread over three phases. These projects will provide approximately 11,500 million units of energy annually. This MoU paves way towards
SGEL’s first venture into Commercial & Industrial Segment.
Reviewing the financials from a year-on-year basis, the revenues declined by 12.2 percent from Rs 2,938 crores in FY23 to Rs 2,579 crores in FY23 In the same time frame, the net profits decreased from Rs 1,359 crores to Rs 911 crores demonstrating a 32.9 percent decrease.
In terms of the margin ratios for the year 2024, it has reported a gross profit margin of 81.98 percent, an operating margin of 60.38 percent, and a 35.17 percent for the net profit margin.
The shares of this company generated an overall return of 221.45 percent over the past one year and 42.73 percent over the past 6 months.
As of March 2024, the firm’s shareholding pattern stood at 81.85 percent for promoters, 12.44 percent for the public, 2.36 percent for foreign institutional investors, and 3.35 percent for domestic institutional investors.
Incorporated in the year 1988, SJVN is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects.
Written by Zahal Riyas
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