This midcap Miniratna PSU is trading in green amid markets taking a dip

This midcap Miniratna PSU is trading in green amid markets taking a dip

by 5paisa Research Team Last Updated: Apr 23, 2022 - 06:40 pm 30.2k Views
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SJVN achieves financial closure for the 66 MW project.

SJVN Ltd, engaged in the business of generating electricity through hydropower, has been trending on Dalal Street as it has rallied by about 1.4% from its previous close of Rs 28.95. The share has been trading in the green territory today. The scrip opened at Rs 29.15 and made a day’s high of Rs 30.05 when the benchmark index like Sensex has fallen by about 1.23%.

Such a resilient trend in the stock was seen on the back of the company achieving financial closure by signing of loan agreement amounting to Rs 494 crore with Himachal Pradesh State Co-operative Bank for the development of 66 MW Dhaulasidh HEP ('DSHEP') coming under Hamirpur and Kangra District of Himachal Pradesh.

According to its press release, “the project has already commenced its construction activities since May 2021 and moving fast forward to generate 304 million units in a 90% dependable year of clean Hydro Power from FY 2025-26 with levelized tariff of Rs 4.46/Kwh. The total project cost of Rs 688 crore of DSHEP has to be financed through a Debt Equity Ratio of 80:20.”

Talking about its recent quarterly results, in Q3FY22, revenue grew by 11.19% YoY to Rs 549.14 crore from Rs 493.87 crore in Q3FY21. On a sequential basis, the top-line was down by 37.76%. PBIDT (Ex OI) was reported at Rs 383.42 crore, up by 17.49% as compared to the year-ago period and the corresponding margin was reported at 69.82%, expanding by 374 basis points YoY. PAT was reported at Rs 238.82 crore, up by 1492.13% from Rs 15 crore in the same quarter for the previous fiscal year. The PAT margin stood at 43.49% in Q3FY22 expanding from 3.04% in Q3FY21.

The stock has a 52-week high of Rs 33.8 and a 52-week low of Rs 24.55.

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