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Last Updated: April 2, 2026, 3:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 533206 | NSE: SJVN

SJVN Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹73.64Fairly Valued by 9.42%vs CMP ₹67.30

P/E (41.8) × ROE (5.8%) × BV (₹37.10) × DY (2.17%)

₹52.93Overvalued by 21.35%vs CMP ₹67.30
MoS: -27.1% (Negative)Confidence: 45/100 (Moderate)Models: 1 Under, 1 Fair, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹67.3334%Fair (0%)
Graham NumberEarnings₹36.6625%Over (-45.5%)
Net Asset ValueAssets₹37.1411%Over (-44.8%)
Earnings YieldEarnings₹16.1011%Over (-76.1%)
ROCE CapitalReturns₹128.0711%Under (+90.3%)
Revenue MultipleRevenue₹11.738%Over (-82.6%)
Consensus (6 models)₹52.93100%Overvalued
Key Drivers: Wide model spread (₹12–₹128) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -8.6%

*Investments are subject to market risks

Investment Snapshot

47
SJVN Ltd scores 47/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 4.9% WeakROE 5.8% WeakD/E 0.14 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.20% (6mo) Slight increasePromoter holding at 81.9% Stable
Earnings Quality40/100 · Moderate
OPM contracting (76% → 72%) Declining
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +16% YoY GrowingProfit (4Q): -37% YoY Declining
Industry Rank30/100 · Weak
P/E 41.8 vs industry 41.9 In-lineROCE 4.9% vs industry 9.0% Below peersROE 5.8% vs industry 11.7% Below peers3Y sales CAGR: 8% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

SJVN Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 41.8 vs Ind 41.9 | ROCE 4.9% | ROE 5.8% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.14x | IntCov 0.0x | Current 2.03x | Borrow/Reserve 2.77x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹818 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.14 pp | DII -0.33 pp | Prom 0.00 pp
Business Momentum
-76
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +4.8% | Q NP -27.3% | Q OPM -12.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-21.4%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves2.77xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.14 ppLatest FII% minus previous FII%
DII Change-0.33 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-42,063Latest shareholder count minus previous count
Quarterly Sales Change+4.8%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-27.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-12.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:41 am

Market Cap 26,432 Cr.
Current Price 67.3
Intrinsic Value₹52.93
High / Low 108/63.0
Stock P/E41.8
Book Value 37.1
Dividend Yield2.17 %
ROCE4.91 %
ROE5.81 %
Face Value 10.0
PEG Ratio-4.88

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

View Share Price Target for SJVN Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
SJVN Ltd 26,432 Cr. 67.3 108/63.041.8 37.12.17 %4.91 %5.81 % 10.0
CESC Ltd 20,297 Cr. 153 185/13713.8 95.93.92 %11.2 %11.3 % 1.00
NLC India Ltd 39,270 Cr. 283 292/20215.0 1441.27 %10.5 %14.5 % 10.0
Jaiprakash Power Ventures Ltd 10,239 Cr. 14.9 27.7/12.516.5 18.60.00 %10.3 %6.85 % 10.0
Reliance Power Ltd 9,243 Cr. 22.4 76.5/20.232.7 39.90.00 %6.15 %1.08 % 10.0
Industry Average60,447.10 Cr156.8041.9494.050.95%8.95%11.73%7.77

All Competitor Stocks of SJVN Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 5525046758785434838701,0266715049171,0321,082
Expenses 171326192172175256224198207264211172309
Operating Profit 381178483706368227646828464241707860773
OPM % 69%35%72%80%68%47%74%81%69%48%77%83%71%
Other Income 1776871894919589929152547944
Interest 1054990124122121143198229159216315245
Depreciation 10586101102112242131133137275160171216
Profit before tax 34711236356918358462590189-142385453357
Tax % 17%85%25%23%24%-5%23%25%21%-10%41%32%37%
Net Profit 2871727244013961357440149-128228308224
EPS in Rs 0.730.040.691.120.350.160.911.120.38-0.320.580.780.57

Last Updated: March 3, 2026, 2:42 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 9:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,8722,8162,4942,6792,2282,6452,7032,4852,4172,9382,5793,0723,536
Expenses 268372431480524606590619623665737849955
Operating Profit 1,6042,4432,0632,1991,7052,0392,1121,8671,7942,2731,8432,2232,581
OPM % 86%87%83%82%76%77%78%75%74%77%71%72%73%
Other Income 237309541411409397587425195310380308229
Interest 29652185510125134442226449482743935
Depreciation 475641677680365390384393404396557676823
Profit before tax 1,3382,0471,7091,8751,6481,7951,9721,8561,3601,7381,1831,1121,052
Tax % 17%18%17%18%26%24%21%11%27%22%23%26%
Net Profit 1,1141,6771,4111,5451,2251,3671,5671,6469901,359911818632
EPS in Rs 2.694.053.413.733.123.473.994.192.523.462.322.091.61
Dividend Payout % 36%26%32%74%122%62%55%53%68%51%78%70%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)50.54%-15.86%9.50%-20.71%11.59%14.63%5.04%-39.85%37.27%-32.97%-10.21%
Change in YoY Net Profit Growth (%)0.00%-66.40%25.36%-30.21%32.30%3.04%-9.59%-44.90%77.13%-70.24%22.76%

SJVN Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:3%
3 Years:8%
TTM:12%
Compounded Profit Growth
10 Years:-7%
5 Years:-10%
3 Years:-7%
TTM:-25%
Stock Price CAGR
10 Years:15%
5 Years:32%
3 Years:45%
1 Year:-30%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:7%
Last Year:6%

Last Updated: September 5, 2025, 1:31 pm

Balance Sheet

Last Updated: December 10, 2025, 3:25 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 4,1374,1374,1374,1373,9303,9303,9303,9303,9303,9303,9303,9303,930
Reserves 4,9146,0667,1667,3536,7707,3168,1218,8619,2419,93010,14110,24910,657
Borrowings 2,4572,6482,6462,4162,2312,1552,2382,1746,90614,05920,32327,02529,567
Other Liabilities 2,0531,7811,4401,4861,4601,5721,6662,5083,1724,3924,7974,8594,660
Total Liabilities 13,56114,63215,38915,39214,39114,97415,95517,47323,24832,31139,19146,06348,814
Fixed Assets 5,6709,0548,7758,4258,0878,1428,0518,0077,8668,48910,90611,61015,757
CWIP 4,0564295056619441,3032,2654,2988,36915,67420,03326,41425,430
Investments 03369012016019522227536376153
Other Assets 3,8355,1476,0736,2165,2395,3685,4444,9466,7388,1128,2157,9787,572
Total Assets 13,56114,63215,38915,39214,39114,97415,95517,47323,24832,31139,19146,06348,814

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1,2791,4922,2092,3761,6411,0181,7141,9832,1381,6321,3102,483
Cash from Investing Activity + -879-304-768-1,19915-34-95-1,145-6,132-6,877-5,502-6,430
Cash from Financing Activity + -408-746-705-1,621-2,272-1,107-1,345-1,1053,6695,5594,5023,939
Net Cash Flow -8442736-444-616-123273-267-325314309-8
Free Cash Flow 1439961,4862,3761,292244445-83-2,290-5,212-4,340-4,186
CFO/OP 98%79%126%124%118%70%103%122%140%87%86%119%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-1.000.000.000.00-1.000.000.00-1.00-5.00-12.00-19.00-25.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 731951478347381017787348966
Inventory Days
Days Payable
Cash Conversion Cycle 731951478347381017787348966
Working Capital Days -671041204036138-46-215-395-418-409
ROCE %12%18%13%14%13%16%15%15%9%9%5%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 86.77%86.77%81.85%81.85%81.85%81.85%81.85%81.85%81.85%81.85%81.85%81.85%
FIIs 1.75%1.40%0.91%1.68%2.36%2.40%2.39%2.42%2.49%2.52%2.55%2.69%
DIIs 4.06%4.32%5.74%5.97%3.36%3.94%4.29%4.10%4.20%4.10%4.32%3.99%
Public 7.41%7.50%11.51%10.51%12.42%11.83%11.48%11.63%11.46%11.54%11.27%11.47%
No. of Shareholders 3,16,0553,19,1436,20,0236,55,62711,81,24112,33,23415,01,06715,45,82015,57,93815,04,91514,49,11114,07,048

Shareholding Pattern Chart

No. of Shareholders

SJVN Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Edelweiss Balanced Advantage Fund 2,449,484 0.14 17.895,486,0142026-02-22 04:40:02-55.35%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.082.323.462.634.19
Diluted EPS (Rs.) 2.082.323.462.524.19
Cash EPS (Rs.) 3.793.734.463.545.18
Book Value[Excl.RevalReserv]/Share (Rs.) 36.0835.8135.2733.5132.55
Book Value[Incl.RevalReserv]/Share (Rs.) 36.0835.8135.2733.5132.55
Revenue From Operations / Share (Rs.) 7.826.567.486.156.32
PBDIT / Share (Rs.) 6.435.386.554.956.45
PBIT / Share (Rs.) 4.713.965.543.925.45
PBT / Share (Rs.) 2.782.984.383.345.55
Net Profit / Share (Rs.) 2.072.313.452.514.18
NP After MI And SOA / Share (Rs.) 2.092.323.462.524.19
PBDIT Margin (%) 82.2181.9887.6180.43102.04
PBIT Margin (%) 60.2060.3874.1263.7186.22
PBT Margin (%) 35.5845.3358.6454.2687.76
Net Profit Margin (%) 26.4435.1746.1140.7666.05
NP After MI And SOA Margin (%) 26.6835.3346.2640.9566.21
Return on Networth / Equity (%) 5.786.479.807.5112.86
Return on Capital Employeed (%) 4.454.437.767.4613.67
Return On Assets (%) 1.772.324.204.259.41
Long Term Debt / Equity (X) 1.851.400.950.460.14
Total Debt / Equity (X) 1.901.441.010.520.14
Asset Turnover Ratio (%) 0.070.070.120.120.15
Current Ratio (X) 1.151.381.321.882.03
Quick Ratio (X) 1.141.361.301.862.00
Inventory Turnover Ratio (X) 37.2233.370.000.000.00
Dividend Payout Ratio (NP) (%) 86.3076.3149.1461.5354.92
Dividend Payout Ratio (CP) (%) 47.2847.3638.0543.6944.33
Earning Retention Ratio (%) 13.7023.6950.8638.4745.08
Cash Earning Retention Ratio (%) 52.7252.6461.9556.3155.67
Interest Coverage Ratio (X) 3.404.626.2012.05-889.94
Interest Coverage Ratio (Post Tax) (X) 2.112.834.367.52-562.65
Enterprise Value (Cr.) 59569.3464209.6123328.1014779.0210839.05
EV / Net Operating Revenue (X) 19.3924.897.946.114.36
EV / EBITDA (X) 23.5930.369.067.604.27
MarketCap / Net Operating Revenue (X) 11.7218.504.454.464.12
Retention Ratios (%) 13.6923.6850.8538.4645.07
Price / BV (X) 2.543.390.940.810.80
Price / Net Operating Revenue (X) 11.7218.504.454.464.12
EarningsYield 0.020.010.100.090.16

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 2897.25 Cr. and Equity Capital is Rs. 3929.80 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionSJVN Corporate Office Complex, Shanan, Shimla Himachal Pradesh 171006Contact not found
Management
NamePosition Held
Mr. Bhupender GuptaChairman & Managing Director
Dr.(Ms.) Udeeta TyagiIndependent Director
Dr. Shashikant Jagannath WaniIndependent Director
Mr. Mohammad AfzalGovernment Nominee Director
Mr. Ajay Kumar SharmaDirector - Personnel
Mr. Rajendra Prasad GoyalDirector - Finance

FAQ

What is the intrinsic value of SJVN Ltd and is it undervalued?

As of 05 April 2026, SJVN Ltd's intrinsic value is ₹52.93, which is 21.35% lower than the current market price of ₹67.30, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.81 %), book value (₹37.1), dividend yield (2.17 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of SJVN Ltd?

SJVN Ltd is trading at ₹67.30 as of 05 April 2026, with a FY2026-2027 high of ₹108 and low of ₹63.0. The stock is currently near its 52-week low. Market cap stands at ₹26,432 Cr..

How does SJVN Ltd's P/E ratio compare to its industry?

SJVN Ltd has a P/E ratio of 41.8, which is below the industry average of 41.94. This is broadly in line with or below the industry average.

Is SJVN Ltd financially healthy?

Key indicators for SJVN Ltd: ROCE of 4.91 % is on the lower side compared to the industry average of 8.95%; ROE of 5.81 % is below ideal levels (industry average: 11.73%). Dividend yield is 2.17 %.

Is SJVN Ltd profitable and how is the profit trend?

SJVN Ltd reported a net profit of ₹818 Cr in Mar 2025 on revenue of ₹3,072 Cr. Compared to ₹990 Cr in Mar 2022, the net profit shows a declining trend.

Does SJVN Ltd pay dividends?

SJVN Ltd has a dividend yield of 2.17 % at the current price of ₹67.30. This is a relatively attractive yield for income-seeking investors.

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
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