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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of SJVN Ltd

About the Company - SJVN Ltd

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. Nand Lal SharmaChairman & Managing Director
Mr. Sushil SharmaDirector
Mrs. Geeta KapurDirector - Personnel
Mr. Akhileshwar SinghDirector - Finance
Mr. Saroj Ranjan SinhaIndependent Director
Dr. Udeeta TyagiIndependent Director
Dr. Danveer Singh YadavIndependent Director
Dr. Shashikant Jagannath WaniIndependent Director
Mr. Rajeev SharmaGovernment Nominee Director
Mr. Ajay TewariGovernment Nominee Director

SJVN Ltd. Share Price Update

Share PriceValue
Today₹140.60
Previous Day₹150.65

Basic Stock Data of SJVN Ltd

Market Cap 47,668 Cr.
Current Price 121
High / Low170/30.4
Stock P/E53.3
Book Value 36.5
Dividend Yield1.44 %
ROCE9.27 %
ROE10.3 %
Face Value 10.0

Data Source: screener.in

Competitors of SJVN Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Tata Power Company Ltd 1,20,065 Cr. 376413/18235.1 94.30.53 %11.7 %12.6 % 1.00
NLC India Ltd 33,993 Cr. 245294/69.713.2 1191.43 %13.5 %15.5 % 10.0
Gujarat Industries Power Co Ltd 2,938 Cr. 194238/70.714.9 2111.93 %8.06 %6.09 % 10.0
Orient Green Power Company Ltd 2,329 Cr. 23.834.6/7.0980.0 8.520.00 %7.19 %1.82 % 10.0
Reliance Power Ltd 9,757 Cr. 25.633.2/9.05 34.30.00 %3.42 %11.8 % 10.0
Industry Average33,816.40 Cr172.8828.6493.420.78%8.77%9.56%8.20

SJVN Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales4944646628825493231,004878552504675878543
Expenses168222154271171181176166171326192172175
Operating Profit326241508611379143828713381178483706368
OPM %66%52%77%69%69%44%82%81%69%35%72%80%68%
Other Income-19751594463751088617768718949
Interest-1530261538821441171054990124122
Depreciation105979610210210310010510586101102112
Profit before tax21786644553830132691577347112363569183
Tax %9%28%23%25%22%77%12%23%17%85%25%23%24%
Net Profit198620342405235760944528717272440139
EPS in Rs0.501.580.871.030.600.021.551.130.730.040.691.120.35

SJVN Ltd Quarterly Chart

SJVN Ltd Profit & Loss

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,6821,8722,8162,4942,6792,2282,6452,7032,4852,4172,9382,600
Expenses242268372431480524606590619623665864
Operating Profit1,4401,6042,4432,0632,1991,7052,0392,1121,8671,7942,2731,736
OPM %86%86%87%83%82%76%77%78%75%74%77%67%
Other Income245237309541411409397587425195310277
Interest5429652185510125134442226449385
Depreciation447475641677680365390384393404396400
Profit before tax1,1851,3382,0471,7091,8751,6481,7951,9721,8561,3601,7381,227
Tax %11%17%18%17%18%26%24%21%11%27%22%
Net Profit1,0521,1141,6771,4111,5451,2251,3671,5671,6469901,359868
EPS in Rs2.542.694.053.413.733.123.473.994.192.523.462.20
Dividend Payout %38%36%26%32%74%122%62%55%53%68%51%

SJVN Ltd Profit & Loss Yearly Chart

SJVN Ltd Growth

Compounded Sales Growth
10 Years:6%
5 Years:6%
3 Years:3%
TTM:-6%
Compounded Profit Growth
10 Years:3%
5 Years:3%
3 Years:-1%
TTM:-34%
Stock Price CAGR
10 Years:19%
5 Years:38%
3 Years:63%
1 Year:296%
Return on Equity
10 Years:12%
5 Years:12%
3 Years:11%
Last Year:10%

SJVN Ltd Balance Sheet

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital4,1374,1374,1374,1374,1373,9303,9303,9303,9303,9303,9303,930
Reserves4,2734,9146,0667,1667,3536,7707,3168,1218,8619,2419,93010,396
Borrowings2,1642,4572,6482,6462,4162,2312,1552,2382,1746,90614,05917,058
Other Liabilities1,9162,0531,7811,4401,4861,4601,5721,6662,5083,1724,3924,875
Total Liabilities12,48913,56114,63215,38915,39214,39114,97415,95517,47323,24832,31136,259
Fixed Assets5,8205,6709,0548,7758,4258,0878,1428,0518,0077,8668,4898,488
CWIP2,9824,0564295056619441,3032,2654,2988,36915,67419,226
Investments50336901201601952222753635
Other Assets3,6833,8355,1476,0736,2165,2395,3685,4444,9466,7388,1128,511
Total Assets12,48913,56114,63215,38915,39214,39114,97415,95517,47323,24832,31136,259

SJVN Ltd Reserves and Borrowings Chart

SJVN Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1,4061,2791,4922,2092,3761,6411,0181,7141,9832,1381,632
Cash from Investing Activity -665-879-304-768-1,19915-34-95-1,145-6,132-6,877
Cash from Financing Activity -207-408-746-705-1,621-2,272-1,107-1,345-1,1053,6695,559
Net Cash Flow534-8442736-444-616-123273-267-325314

SJVN Ltd Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days7873195147834738101778734
Inventory Days
Days Payable
Cash Conversion Cycle7873195147834738101778734
Working Capital Days-56-671041204036139-0-105-301
ROCE %12%18%13%14%13%16%15%15%9%9%

SJVN Ltd Financial Efficiency Indicators Chart

SJVN Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters86.77%86.77%86.77%86.77%86.77%86.77%86.77%86.77%86.77%86.77%81.85%81.85%
FIIs2.33%2.40%2.53%2.51%2.65%2.93%2.96%2.31%1.75%1.40%0.91%1.68%
DIIs5.41%5.29%4.93%4.63%4.00%3.42%3.83%3.81%4.06%4.32%5.74%5.97%
Public5.49%5.54%5.77%6.09%6.59%6.88%6.42%7.11%7.41%7.50%11.51%10.51%
No. of Shareholders1,43,4811,67,3011,92,1162,56,0123,09,1803,11,3022,88,2793,12,0243,16,0553,19,1436,20,0236,55,627

SJVN Ltd Shareholding Pattern Chart

No. of SJVN Ltd Shareholders

SJVN Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
SBI Small Cap Fund610932862.34555.64
Nippon India CPSE ETF453865261.35412.79
Quant Small Cap Fund171340001.2155.83
Quant Flexi Cap Fund63300001.9857.57
ICICI Prudential Bharat 22 ETF57692020.3552.47
Quant Infrastructure Fund49230003.3944.77
Mahindra Manulife Multi Cap Fund45000001.5440.93
Baroda BNP Paribas Value Fund40000002.1836.38
Mahindra Manulife Small Cap Fund33206070.9730.2
Mahindra Manulife Large & Mid Cap Fund30000001.6127.29

SJVN Ltd ROCE Trend

SJVN Ltd EPS Trend

SJVN Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)3.462.634.193.583.48
Diluted EPS (Rs.)3.462.524.193.993.48
Cash EPS (Rs.)4.463.545.184.954.46
Book Value[Excl.RevalReserv]/Share (Rs.)35.2733.5132.5530.6628.62
Book Value[Incl.RevalReserv]/Share (Rs.)35.2733.5132.5530.6628.62
Revenue From Operations / Share (Rs.)7.486.156.326.886.75
PBDIT / Share (Rs.)6.554.956.456.195.82
PBIT / Share (Rs.)5.543.925.455.214.82
PBT / Share (Rs.)4.383.345.555.004.56
Net Profit / Share (Rs.)3.452.514.183.973.47
NP After MI And SOA / Share (Rs.)3.462.524.193.993.47
PBDIT Margin (%)87.6180.43102.0489.9586.13
PBIT Margin (%)74.1263.7186.2275.7471.43
PBT Margin (%)58.6454.2687.7672.7367.47
Net Profit Margin (%)46.1140.7666.0557.7651.33
NP After MI And SOA Margin (%)46.2640.9566.2157.9651.33
Return on Networth / Equity (%)9.807.5112.8613.0012.11
Return on Capital Employeed (%)7.767.4613.6713.6713.47
Return On Assets (%)4.204.259.419.819.09
Long Term Debt / Equity (X)0.950.460.140.160.17
Total Debt / Equity (X)1.010.520.140.160.17
Asset Turnover Ratio (%)0.120.120.150.170.18
Current Ratio (X)1.321.882.034.195.33
Quick Ratio (X)1.301.862.004.145.28
Dividend Payout Ratio (NP) (%)49.1461.5354.9242.6443.26
Dividend Payout Ratio (CP) (%)38.0543.6944.3334.2433.62
Earning Retention Ratio (%)50.8638.4745.0857.3656.74
Cash Earning Retention Ratio (%)61.9556.3155.6765.7666.38
Interest Coverage Ratio (X)6.2012.05-889.949.079.71
Interest Coverage Ratio (Post Tax) (X)4.367.52-562.656.136.24
Enterprise Value (Cr.)23328.1014779.0210839.057771.508483.64
EV / Net Operating Revenue (X)7.946.114.362.883.20
EV / EBITDA (X)9.067.604.273.203.71
MarketCap / Net Operating Revenue (X)4.454.464.123.013.58
Retention Ratios (%)50.8538.4645.0757.3556.73
Price / BV (X)0.940.810.800.670.84
Price / Net Operating Revenue (X)4.454.464.123.013.58
EarningsYield0.100.090.160.190.14

SJVN Ltd Profitability Ratios (%)

SJVN Ltd Liquidity Ratios

SJVN Ltd Liquidity Ratios (%)

SJVN Ltd Interest Coverage Ratios (X)

SJVN Ltd Valuation Ratios

Fair Value / Intrinsic Value of SJVN Ltd

Fair Value: ₹203.27

The stock is undervalued by 67.99% compared to the current price ₹121

*Investments are subject to market risks

Strength and Weakness of SJVN Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -14.73, which is a positive sign.
  2. The company has higher reserves (7,533.92 cr) compared to borrowings (4,929.33 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 is trading at a high valuation with an average P/B ratio of 4.99 and average Dividend Yield of 74.24%.
  2. The stock has a low average ROCE of 12.18%, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 87.27, which may not be favorable.

Should I Buy SJVN Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in SJVN Ltd:
    1. Net Profit Margin: 46.11%
      • 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: 7.76% (Industry Average ROCE: 11.11%)
      • 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. Interest Coverage Ratio (Post Tax): 4.36
      • 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.
    4. Quick Ratio: 1.30
      • 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.
    5. ✓ Stock P/E: 52.7 (Industry average Stock P/E: 60.25)
      • 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.
    6. ✗ Total Debt / Equity: 1.01
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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