President of India-Backed Power Generation Stock Under Rs 100: Company Completes Trial Run of 241.77 MW (Phase-I) Capacity of 1,000 MW Bikaner Solar Power Project
The stock is up by 15 per cent from its 52-week low of Rs 80.50 per share.
SJVN Ltd. has announced that its wholly-owned subsidiary, SJVN Green Energy Limited (SGEL), has successfully completed the trial run of 241.77 MW capacity in Phase I of the 1,000 MW Bikaner Solar Power Project on March 31, 2025. This significant milestone indicates that the initial operational capacity is set to achieve Commercial Operation Date (COD) on April 02, 2025. The project's overall planned capacity of 1,000 MW is targeted for full commissioning by September 30, 2025, marking a major step forward in SGEL's renewable energy portfolio.
Upon full commissioning, the Bikaner Solar Power Project will supply solar power to Rajasthan, Jammu & Kashmir, and Uttarakhand, contributing significantly to India's national goal of achieving 500 GW of non-fossil fuel capacity by 2030. This project aligns with SJVN's ambitious vision of expanding its capacity to 25,000 MW by 2030 and 50,000 MW by 2040, reinforcing its commitment to sustainable energy development and its role in India's energy transition.
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About the Company
SJVN, formerly known as Satluj Jal Vidyut Nigam Ltd, is an Indian public sector undertaking involved in hydroelectric power generation and transmission. It was incorporated in 1988 as Nathpa Jhakri Power Corporation, a joint venture between the Government of India and the Government of Himachal Pradesh. The company has a market cap of over Rs 35,000 crore and has been maintaining a healthy dividend payout of 65.4 per cent.
According to Quarterly Results, the net sales increased by 23.6 per cent to Rs 671 crore and net profit increased by 7.2 per cent to Rs 149 crore in Q3FY25 compared to Q3FY24. Looking at its nine-month results, the net sales increased by 22.5 per cent to Rs 2,267 crore and net profit increased by 11.2 per cent to Rs 946 crore in 9MFY25 compared to 9MFY24. In its annual results, the net sales decreased by 12.2 per cent to Rs 2,579.37 crore and net profit decreased by 33 per cent to Rs 907.25 crore in FY24 compared to FY23.
As of December 2024, the Life Insurance Corporation of India (LIC) owns a 2.54 per cent stake and FIIs increased their stake to 2.42 per cent in December 2024 compared to September 2024. The stock is up by 15 per cent from its 52-week low of Rs 80.50 per share. Investors should keep an eye on this power stock.
Disclaimer: The article is for informational purposes only and not investment advice.