The shares of a leading power and generation and supply company hit a low of Rs 131.50 per share, and the stock fell by 5.8 percent compared to a previous closing price of Rs 139.65 per share after the company reported a net profit decline of 32.9 percent in FY23-24.
At 12:30 p.m., On Thursday’s trading session, the shares of SJVN LTD were trading at Rs 133.90 a piece, down by 5.8 percent on the Bombay Stock Exchange. The company has a market capitalization of Rs 54,879 crores.
The company’s stock prices fluctuated when they announced their financial results for Q4 FY23-24 and FY24. This information was disclosed in recent filings with the stock exchanges.
Analyzing the company’s financial performance, SJVN LTD’s have net profits have increased tremendously by 254.91 percent from Rs 17.2 crores in Q4FY23 to Rs 61.08 crores in Q4FY24 despite making lower revenues for the same time period. The revenues decreased by 4.08 percent from Rs. 503.47 crores in Q4FY23 to Rs. 482.91 crores in Q4FY24.
From a YoY standpoint, the company reported a decline in net profit by 32.9 percent from 1,359.3 crores in FY2022-23 to Rs 911.44 crores in FY2023-24. Also, its revenues decreased by 12.2 percent from Rs. 2,938.35 crores in FY2022-23 to Rs. 2,579.37 crores in FY2023-24.
The company recognized an impairment loss of Rs 138.7 crores with respect to wind and solar projects.
Also, the Board of Directors of the Company approved the signing of a Joint Venture Agreement with IndianOil Corporation Limited for the purpose of development of Green RTC/Renewable Projects and other New Technology-based Projects.
The shares of this company generated a multi-bagger return of 274.3 percent over the past year and 57.9 percent over the past 6 months.
Recent shareholding pattern as of March 2024 shows that 81.85 percent were for promoters, 12.44 percent for the public, 2.36 percent for foreign institutional investors and 3.35 percent for domestic institutional investors.
The company derives its revenues from providing consultancy services related to infrastructure sector business such as Hydro Electric Projects and other projects like highway tunnels & railway tunnels.
The Board of Directors have recommended a final dividend of Rs 0.65 per equity share for the Financial Year ended 2023-24.
Headquartered in Shimla, SJVN LTD is one of the leading power and generation supply company in India. The company is engaged in the business of providing consultancy services and taking up projects in areas related to hydroelectric, highway and railway tunnels , thermal plants, windmills, and solar panels.
Written by Zahal
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