SJVN, Cochin Shipyard Drop After Mixed Q4 Numbers Weigh On Sentiment

Shares of SJVN Limited slipped nearly 9% on Monday, hitting ₹70.50 on the NSE and marking a fresh one-month low after recent gains were wiped out in a single session.

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The decline came even though the company reported higher revenue for the March quarter, helped by commissioning activity at its Buxar unit-1. Profit trends, however, remained uneven and failed to support sentiment.

Earnings Show Split Picture Between Revenue And Profit

SJVN’s consolidated loss narrowed to ₹117.84 crore in the March quarter from ₹127.72 crore a year earlier, according to its exchange filing. Total income rose sharply to ₹1,548.46 crore compared with ₹548.84 crore in the same period last year.

On a standalone basis, the company reported a net profit of ₹125.40 crore. Revenue also doubled year-on-year to ₹1,047.70 crore.

The quarterly improvement in income was driven mainly by hydropower generation from Nathpa Jhakri and Rampur stations. Still, sequential numbers told a different story, with net profit falling more than 50% even as revenue increased 10.4%.

Brokerage View Adjusted After Earnings

Elara Securities kept a “buy” rating on SJVN but lowered its target price to ₹106 from ₹120, according to Informist. The brokerage cited delays in project commissioning and revised its earnings assumptions, trimming FY27 estimates while slightly adjusting FY28 projections.

The company added 1.73 GW of capacity during the quarter, taking total installed capacity to 4.20 GW. Another 3.93 GW remains under construction.

Its planned capital expenditure remains large, with ₹94,000 crore earmarked for FY27, followed by ₹78,000 crore in FY28 and ₹75,000 crore in FY29. Earlier targets for 25 GW capacity by 2030 are now under review, as execution timelines stretch.

Cochin Shipyard Also Sees Sharp Selling

Cochin Shipyard Limited declined 7.5% to ₹1,475, extending losses for a third straight session. The stock is now down nearly 11% over the same period.

The March quarter showed a 24% fall in net profit to ₹216 crore compared with last year. Revenue dropped 26.5% year-on-year to ₹1,214 crore, even though sequential profit and sales both improved.

The company’s quarterly performance reflected weaker year-on-year execution, offset partly by short-term recovery in activity levels.

Market Mood Turns Selectively Weak

The selling in both stocks came after investors reassessed earnings visibility across infrastructure-linked public sector companies. Revenue gains were not matched by stable profit trends, which added pressure during Monday’s trade.

By the close, both SJVN and Cochin Shipyard remained under selling pressure, with focus shifting toward execution pace, cost movement, and whether revenue growth can translate into consistent profitability in upcoming quarters.