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Last Updated on: 23 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

SJVN Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:32 pm

Market Cap 42,248 Cr.
Current Price 108
High / Low170/80.2
Stock P/E45.7
Book Value 37.2
Dividend Yield1.67 %
ROCE4.99 %
ROE5.90 %
Face Value 10.0
PEG Ratio-4.45

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for SJVN Ltd

Competitors of SJVN Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IND Renewable Energy Ltd 16.5 Cr. 11.926.8/11.2551 18.70.00 %0.07 %0.34 % 10.0
GMR Power & Urban Infra Ltd 7,141 Cr. 99.8169/38.6 11.10.00 %11.4 %% 5.00
Gita Renewable Energy Ltd 63.6 Cr. 155310/107245 32.20.00 %2.71 %1.91 % 10.0
SJVN Ltd 42,248 Cr. 108170/80.245.7 37.21.67 %4.99 %5.90 % 10.0
Rattanindia Power Ltd 6,713 Cr. 12.521.1/7.90 8.300.00 %8.39 %% 10.0
Industry Average62,813.00 Cr239.7383.4197.230.78%8.58%10.68%8.22

All Competitor Stocks of SJVN Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales4646628825493231,004878552504675878543483
Expenses222154271171181176166171326192172175256
Operating Profit241508611379143828713381178483706368227
OPM %52%77%69%69%44%82%81%69%35%72%80%68%47%
Other Income751594463751088617768718949195
Interest30261538821441171054990124122121
Depreciation979610210210310010510586101102112242
Profit before tax8664455383013269157734711236356918358
Tax %28%23%25%22%77%12%23%17%85%25%23%24%-5%
Net Profit62034240523576094452871727244013961
EPS in Rs1.580.871.030.600.021.551.130.730.040.691.120.350.16

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,6821,8722,8162,4942,6792,2282,6452,7032,4852,4172,9382,579
Expenses242268372431480524606590619623665772
Operating Profit1,4401,6042,4432,0632,1991,7052,0392,1121,8671,7942,2731,807
OPM %86%86%87%83%82%76%77%78%75%74%77%70%
Other Income245237309541411409397587425195310381
Interest5429652185510125134442226449457
Depreciation447475641677680365390384393404396557
Profit before tax1,1851,3382,0471,7091,8751,6481,7951,9721,8561,3601,7381,174
Tax %11%17%18%17%18%26%24%21%11%27%22%22%
Net Profit1,0521,1141,6771,4111,5451,2251,3671,5671,6469901,359911
EPS in Rs2.542.694.053.413.733.123.473.994.192.523.462.32
Dividend Payout %38%36%26%32%74%122%62%55%53%68%51%78%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)5.89%50.54%-15.86%9.50%-20.71%11.59%14.63%5.04%-39.85%37.27%-32.97%
Change in YoY Net Profit Growth (%)0.00%44.65%-66.40%25.36%-30.21%32.30%3.04%-9.59%-44.90%77.13%-70.24%

SJVN Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:3%
5 Years:-1%
3 Years:1%
TTM:12%
Compounded Profit Growth
10 Years:-3%
5 Years:-10%
3 Years:-24%
TTM:-11%
Stock Price CAGR
10 Years:16%
5 Years:34%
3 Years:56%
1 Year:31%
Return on Equity
10 Years:12%
5 Years:10%
3 Years:8%
Last Year:6%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:38 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital4,1374,1374,1374,1374,1373,9303,9303,9303,9303,9303,9303,9303,930
Reserves4,2734,9146,0667,1667,3536,7707,3168,1218,8619,2419,93010,14110,682
Borrowings2,1642,4572,6482,6462,4162,2312,1552,2382,1746,90614,05920,32323,884
Other Liabilities1,9162,0531,7811,4401,4861,4601,5721,6662,5083,1724,3924,7974,744
Total Liabilities12,48913,56114,63215,38915,39214,39114,97415,95517,47323,24832,31139,19143,239
Fixed Assets5,8205,6709,0548,7758,4258,0878,1428,0518,0077,8668,48910,90610,863
CWIP2,9824,0564295056619441,3032,2654,2988,36915,67420,03323,105
Investments5033690120160195222275363736
Other Assets3,6833,8355,1476,0736,2165,2395,3685,4444,9466,7388,1128,2159,236
Total Assets12,48913,56114,63215,38915,39214,39114,97415,95517,47323,24832,31139,19143,239

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +1,4061,2791,4922,2092,3761,6411,0181,7141,9832,1381,6321,310
Cash from Investing Activity +-665-879-304-768-1,19915-34-95-1,145-6,132-6,877-5,502
Cash from Financing Activity +-207-408-746-705-1,621-2,272-1,107-1,345-1,1053,6695,5594,502
Net Cash Flow534-8442736-444-616-123273-267-325314309

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-1.00-1.000.000.000.00-1.000.000.00-1.00-5.00-12.00-19.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days787319514783473810177873424
Inventory Days
Days Payable
Cash Conversion Cycle787319514783473810177873424
Working Capital Days-56-671041204036139-0-105-301-337
ROCE %12%18%13%14%13%16%15%15%9%9%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters86.77%86.77%86.77%86.77%86.77%86.77%86.77%81.85%81.85%81.85%81.85%81.85%
FIIs2.51%2.65%2.93%2.96%2.31%1.75%1.40%0.91%1.68%2.36%2.40%2.38%
DIIs4.63%4.00%3.42%3.83%3.81%4.06%4.32%5.74%5.97%3.36%3.94%4.29%
Public6.09%6.59%6.88%6.42%7.11%7.41%7.50%11.51%10.51%12.42%11.83%11.48%
No. of Shareholders2,56,0123,09,1803,11,3022,88,2793,12,0243,16,0553,19,1436,20,0236,55,62711,81,24112,33,23415,01,067

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund61,093,2862.34555.644,000,0002024-11-221427.33%
Nippon India CPSE ETF45,386,5261.35412.794,000,0002024-11-221034.66%
Quant Small Cap Fund17,134,0001.2155.834,000,0002024-11-22328.35%
Quant Flexi Cap Fund6,330,0001.9857.574,000,0002024-11-2258.25%
ICICI Prudential Bharat 22 ETF5,769,2020.3552.474,000,0002024-11-2244.23%
Quant Infrastructure Fund4,923,0003.3944.774,000,0002024-11-2223.08%
Mahindra Manulife Multi Cap Fund4,500,0001.5440.934,000,0002024-11-2212.5%
Baroda BNP Paribas Value Fund4,000,0002.1836.384,000,0002024-11-220%
Mahindra Manulife Small Cap Fund3,320,6070.9730.24,000,0002024-11-22-16.98%
Mahindra Manulife Large & Mid Cap Fund3,000,0001.6127.294,000,0002024-11-22-25%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)2.323.462.634.193.58
Diluted EPS (Rs.)2.323.462.524.193.99
Cash EPS (Rs.)3.734.463.545.184.95
Book Value[Excl.RevalReserv]/Share (Rs.)35.8135.2733.5132.5530.66
Book Value[Incl.RevalReserv]/Share (Rs.)35.8135.2733.5132.5530.66
Revenue From Operations / Share (Rs.)6.567.486.156.326.88
PBDIT / Share (Rs.)5.386.554.956.456.19
PBIT / Share (Rs.)3.965.543.925.455.21
PBT / Share (Rs.)2.984.383.345.555.00
Net Profit / Share (Rs.)2.313.452.514.183.97
NP After MI And SOA / Share (Rs.)2.323.462.524.193.99
PBDIT Margin (%)81.9887.6180.43102.0489.95
PBIT Margin (%)60.3874.1263.7186.2275.74
PBT Margin (%)45.3358.6454.2687.7672.73
Net Profit Margin (%)35.1746.1140.7666.0557.76
NP After MI And SOA Margin (%)35.3346.2640.9566.2157.96
Return on Networth / Equity (%)6.479.807.5112.8613.00
Return on Capital Employeed (%)4.437.767.4613.6713.67
Return On Assets (%)2.324.204.259.419.81
Long Term Debt / Equity (X)1.400.950.460.140.16
Total Debt / Equity (X)1.441.010.520.140.16
Asset Turnover Ratio (%)0.070.120.120.150.17
Current Ratio (X)1.381.321.882.034.19
Quick Ratio (X)1.361.301.862.004.14
Dividend Payout Ratio (NP) (%)76.3149.1461.5354.9242.64
Dividend Payout Ratio (CP) (%)47.3638.0543.6944.3334.24
Earning Retention Ratio (%)23.6950.8638.4745.0857.36
Cash Earning Retention Ratio (%)52.6461.9556.3155.6765.76
Interest Coverage Ratio (X)4.626.2012.05-889.949.07
Interest Coverage Ratio (Post Tax) (X)2.834.367.52-562.656.13
Enterprise Value (Cr.)64209.6123328.1014779.0210839.057771.50
EV / Net Operating Revenue (X)24.897.946.114.362.88
EV / EBITDA (X)30.369.067.604.273.20
MarketCap / Net Operating Revenue (X)18.504.454.464.123.01
Retention Ratios (%)23.6850.8538.4645.0757.35
Price / BV (X)3.390.940.810.800.67
Price / Net Operating Revenue (X)18.504.454.464.123.01
EarningsYield0.010.100.090.160.19

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of SJVN Ltd as of November 23, 2024 is: 101.98

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 23, 2024, SJVN Ltd is Overvalued by 5.57% compared to the current share price 108.00

Intrinsic Value of SJVN Ltd as of November 23, 2024 is: 91.50

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 23, 2024, SJVN Ltd is Overvalued by 15.28% compared to the current share price 108.00

Last 5 Year EPS CAGR: -10.28%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -41.58, which is a positive sign.
  2. The company has higher reserves (7,756.46 cr) compared to borrowings (6,638.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (1.83 cr) and profit (1.08 cr) over the years.
  1. The stock has a low average ROCE of 11.58%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 82.00, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in SJVN Ltd:
    1. Net Profit Margin: 35.17%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 4.43% (Industry Average ROCE: 8.58%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 6.47% (Industry Average ROE: 9.29%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.83
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.36
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 45.7 (Industry average Stock P/E: 65.28)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 1.44
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

SJVN Ltd. is a Public Limited Listed company incorporated on 24/05/1988 and has its registered office in the State of Himachal Pradesh, India. Company’s Corporate Identification Number(CIN) is L40101HP1988GOI008409 and registration number is 008409. Currently Company is involved in the business activities of Electric power generation by hydroelectric power plants. Company’s Total Operating Revenue is Rs. 2421.96 Cr. and Equity Capital is Rs. 3929.80 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionSJVN Corporate Office Complex, Shimla Himachal Pradesh 171006investor.relations@sjvn.nic.in
http://www.sjvn.nic.in
Management
NamePosition Held
Mr. Sushil SharmaChairman & Managing Director
Mr. Akhileshwar SinghDirector - Finance
Dr. Udeeta TyagiIndependent Director
Mr. Saroj Ranjan SinhaIndependent Director
Dr. Danveer Singh YadavIndependent Director
Dr. Shashikant Jagannath WaniIndependent Director
Mr. Mohammad AfzalGovernment Nominee Director
Mr. Arindam ChaudharyGovernment Nominee Director

FAQ

What is the latest intrinsic value of SJVN Ltd?

The latest intrinsic value of SJVN Ltd as on 23 November 2024 is ₹101.98, which is 5.57% lower than the current market price of ₹108.00.

What is the Market Cap of SJVN Ltd?

The Market Cap of SJVN Ltd is 42,248 Cr..

What is the current Stock Price of SJVN Ltd as on 23 November 2024?

The current stock price of SJVN Ltd as on 23 November 2024 is 108.

What is the High / Low of SJVN Ltd stocks in FY 2024?

In FY 2024, the High / Low of SJVN Ltd stocks is 170/80.2.

What is the Stock P/E of SJVN Ltd?

The Stock P/E of SJVN Ltd is 45.7.

What is the Book Value of SJVN Ltd?

The Book Value of SJVN Ltd is 37.2.

What is the Dividend Yield of SJVN Ltd?

The Dividend Yield of SJVN Ltd is 1.67 %.

What is the ROCE of SJVN Ltd?

The ROCE of SJVN Ltd is 4.99 %.

What is the ROE of SJVN Ltd?

The ROE of SJVN Ltd is 5.90 %.

What is the Face Value of SJVN Ltd?

The Face Value of SJVN Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in SJVN Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE