25,000 MW by 2030 and FIIs & DIIs increase stake: This multibagger power generation company commissions 610 MW Solar Power project worth Rs 642 crore!

Shares of the company grew by more than 250 per cent in the last one year.

SJVN Limited's subsidiary, SJVN Green Energy Limited (SGEL), has successfully commissioned its 100 MW Raghanesda Solar Power Project in Gujarat. This project, secured through a competitive bidding process, will generate 252.3 million units (MUs) of clean energy in its first year and an estimated 5,805 MUs over its 25-year lifespan.

Also read, Top 5 Important Ratios to Unlock Stock Investment Success

With a construction cost of Rs 642 crore, the project aligns with the Government of India's vision of achieving 50 per cent energy from non-fossil fuel sources by 2030. This win further strengthens SJVN's commitment to its "Shared Vision" of reaching 25,000 MW of installed capacity by 2030 and 50,000 MW by 2040, contributing significantly to India's clean energy goals.

In Q3FY24, the company posted a 1.57 per cent decline in its consolidated revenue at Rs 543.31 crore compared to Rs 551.99 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 432.88 crore, while the PAT of the company stood at Rs 129.10 crore, from Rs 251.97 crore, last year same quarter.   

SJVN is engaged in the business of electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects. The shares of the company have multibagger returns of about 200 per cent in the last one year and FIIs and DIIs increased their stake in the company in December 2023 respectively.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.