SJVN Limited — Quarter and year ended 31 March 2026 (published 15 May 2026)
The Meeting commenced at 11:30 HRS and concluded at 14:00 HRS.
The following financial results are extracted from the document (₹ in Crore unless stated otherwise).
| Particulars | Quarter Ended 31.03.2026 (Audited) | Quarter Ended 31.12.2025 (Unaudited) | Quarter Ended 31.03.2025 (Audited) | Year Ended 31.03.2026 (Audited) | Year Ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|
| 1. Income | |||||
| a) Revenue from Operations | 933.92 | 846.13 | 445.99 | 3,544.52 | 2,897.25 |
| b) Other Income | 113.78 | 35.76 | 126.98 | 325.14 | 355.19 |
| Total Income | 1,047.70 | 881.89 | 572.97 | 3,869.66 | 3,252.44 |
| 2. Expenses | |||||
| a) Electricity purchased for trading | 0.95 | – | 18.58 | 0.95 | 75.16 |
| b) Employees benefit expenses | 82.26 | 64.85 | 73.61 | 299.31 | 304.61 |
| c) Finance cost | 309.82 | 148.46 | 199.10 | 910.36 | 726.48 |
| d) Depreciation, amortization & impairment expenses | 290.22 | 113.09 | 108.44 | 631.84 | 454.49 |
| e) Other expenses | 119.66 | 97.87 | 117.65 | 397.35 | 395.60 |
| Total Expenses | 802.91 | 424.27 | 517.38 | 2,239.81 | 1,956.34 |
| 3. Profit before exceptional items, net movement in regulatory deferral account balances and tax (1-2) | 244.79 | 457.62 | 55.59 | 1,629.85 | 1,296.10 |
| 4. Exceptional Items | – | – | – | – | – |
| 5. Profit before net movement in regulatory deferral account balances and tax (3-4) | 244.79 | 457.62 | 55.59 | 1,629.85 | 1,296.10 |
| 6. Tax expense: | |||||
| a) Current Tax | 103.73 | 79.96 | 13.93 | 345.73 | 226.46 |
| b) Tax expense pertaining to earlier years | – | – | (7.26) | – | – |
| c) Deferred Tax | 22.08 | 61.76 | 23.17 | 222.96 | 86.65 |
| 7. Profit before regulatory deferral account balances (5-6) | 118.98 | 315.90 | 25.75 | 1,061.16 | 982.99 |
| 8. Net movement in regulatory deferral account balances (net of tax) | 6.42 | (64.19) | 4.97 | (53.26) | (12.81) |
| 9. Profit for the period (7+8) | 125.40 | 251.71 | 30.72 | 1,007.90 | 970.18 |
| 10. Other Comprehensive Income/(expense) (net of tax expenses) | |||||
| Items that will not be reclassified subsequently to profit or loss | 0.85 | (3.04) | (7.57) | (8.05) | (10.99) |
| 11. Total Comprehensive Income for the period (after tax) (9+10) | 126.25 | 248.67 | 23.15 | 999.85 | 959.19 |
| 12. Paid-up equity share capital (Face Value ₹10/-) | 3,929.80 | 3,929.80 | 3,929.80 | 3,929.80 | 3,929.80 |
| 13. Other equity excluding Revaluation Reserve | 10,778.40 | 11,104.08 | 10,352.30 | 10,778.40 | 10,352.30 |
| 14. Earnings Per Share for continuing operations (including net movement in regulatory deferral account balance) (of ₹10/- each) (not annualised) (in ₹) | |||||
| – Basic & Diluted | 0.32 | 0.64 | 0.08 | 2.56 | 2.47 |
| 15. Earnings Per Share for continuing operations (excluding net movement in regulatory deferral account balance) (of ₹10/- each) (not annualised) (in ₹) | |||||
| – Basic & Diluted | 0.30 | 0.80 | 0.07 | 2.70 | 2.50 |
| No. | Description | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|---|
| 16 | Net worth | 14,708.20 | 15,033.88 | 14,282.10 | 14,708.20 | 14,282.10 |
| 17 | Paid up debt capital | 10,502.57 | 10,375.79 | 10,557.16 | 10,502.57 | 10,557.16 |
| 18 | Debt Equity Ratio (Paid up debt capital / Shareholders Equity) | 0.71 | 0.69 | 0.74 | 0.71 | 0.74 |
| 19 | Debt Service Coverage Ratio (DSCR) [ (Profit for the period before tax + Finance Cost + Depreciation + Exceptional items) / (Finance Cost + Scheduled principal repayments of long term borrowings during the period) ] | 1.89 | 2.53 | 1.15 | 2.18 | 2.08 |
| 20 | Interest Service Coverage Ratio (ISCR) [ (Profit for the period before tax + Finance Cost + Depreciation + Exceptional items) / (Finance Cost) ] | 2.73 | 4.84 | 1.82 | 3.48 | 3.41 |
| 21 | Capital Redemption Reserve | 206.83 | 206.83 | 206.83 | 206.83 | 206.83 |
| 22 | Debenture redemption reserve | – | – | – | – | – |
| 23 | Current Ratio (Current Assets / Current Liabilities) | 0.64 | 0.83 | 1.82 | 0.64 | 1.82 |
| 24 | Long term debt to working capital ratio [ Long term borrowings including current maturity of long term borrowings / (working capital + current maturity of long term borrowings) ] | 4.64 | 3.96 | 4.86 | 4.64 | 4.86 |
| 25 | Bad debts to account receivable ratio (Bad debts / Average trade receivables) | – | – | – | – | – |
| 26 | Current liability ratio (Current liabilities / Total liabilities) | 0.47 | 0.38 | 0.15 | 0.47 | 0.15 |
| 27 | Total debts to total assets ratio (Paid up debt capital / Total assets) | 0.38 | 0.38 | 0.39 | 0.38 | 0.39 |
| 28 | Debtors turnover ratio (Revenue from operations / Average trade receivables) – annualised | 4.79 | 4.48 | 3.36 | 4.54 | 6.62 |
| 29 | Inventory turnover ratio (Revenue from operations / Average inventory) – annualised | 44.93 | 40.12 | 21.42 | 42.63 | 35.10 |
| 30 | Operating margin (%) (Earnings before interest, tax and exceptional items / Revenue from operations) | 59.39% | 71.63% | 57.11% | 71.67% | 69.81% |
| 31 | Net profit margin (%) (Profit for the period / Revenue from operations) | 13.43% | 29.75% | 6.89% | 28.44% | 33.49% |
| Sr. No. | Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|---|
| A | ASSETS | ||
| 1 | Non-current Assets | ||
| a) Property Plant & Equipment | 7,813.91 | 7,978.63 | |
| b) Capital Work-in-Progress | 3,522.69 | 3,110.66 | |
| c) Intangible Assets | 0.88 | 0.95 | |
| d) Intangible assets under development | 12.50 | 252.50 | |
| e) Financial assets | |||
| i) Investments | 9,166.22 | 8,881.18 | |
| ii) Loans | 774.19 | 812.96 | |
| iii) Other financial assets | 49.28 | 296.80 | |
| f) Deferred Tax Assets (Net) | 119.89 | 342.85 | |
| g) Other Non-current Assets | 881.10 | 907.72 | |
| Sub Total – Non-current Assets | 22,340.66 | 22,584.25 | |
| 2 | Current Assets | ||
| a) Inventories | 83.03 | 83.27 | |
| b) Financial Assets | |||
| i) Trade Receivables | 1,298.70 | 262.09 | |
| ii) Cash & Cash Equivalents | 381.37 | 59.98 | |
| iii) Bank Balances other than cash & cash equivalents | 898.43 | 1,584.46 | |
| iv) Loans | 135.15 | 131.91 | |
| v) Other financial assets | 901.86 | 1,306.09 | |
| c) Other Current Assets | 115.96 | 105.71 | |
| Sub Total – Current Assets | 3,814.50 | 3,533.51 | |
| 3 | Assets classified as held-for-sale / Assets included in disposal group held-for-sale | 736.97 | – |
| 4 | Regulatory Deferral Account Debit Balance | 704.30 | 768.83 |
| TOTAL – ASSETS | 27,596.43 | 26,886.59 | |
| B | EQUITY AND LIABILITIES | ||
| 1 | EQUITY | ||
| a) Equity Share Capital | 3,929.80 | 3,929.80 | |
| b) Other Equity | 10,778.40 | 10,352.30 | |
| Sub Total – Equity | 14,708.20 | 14,282.10 | |
| 2 | Liabilities | ||
| Non-current Liabilities | |||
| a) Financial Liabilities | |||
| i) Borrowings | 6,012.85 | 9,840.25 | |
| ii) Lease Liabilities | 88.32 | 10.67 | |
| b) Provisions | 145.76 | 139.92 | |
| c) Other non-current Liabilities | 638.27 | 670.83 | |
| Sub Total – Non-current Liabilities | 6,885.20 | 10,661.67 | |
| 3 | Current Liabilities | ||
| a) Financial Liabilities | |||
| i) Borrowings | 4,442.81 | 663.49 | |
| ii) Lease Liabilities | 6.06 | 4.91 | |
| iii) Trade Payables | |||
| Total outstanding dues of Micro and Small Enterprises | 10.02 | 6.55 | |
| Total outstanding dues of creditors other than Micro | 28.90 | 37.84 | |
| iv) Other Financial Liabilities | 728.93 | 610.71 | |
| b) Other Current Liabilities | 55.55 | 46.26 | |
| c) Provisions | 653.34 | 573.06 | |
| d) Current Tax Liabilities (Net) | 76.49 | – | |
| Sub Total – Current Liabilities | 6,002.10 | 1,942.82 | |
| 4 | Liabilities included in disposal group held-for-sale | 0.93 | – |
| TOTAL – EQUITY AND LIABILITIES | 27,596.43 | 26,886.59 |
| Particulars | For the Year Ended March 31, 2026 | For the Year Ended March 31, 2025 |
|---|---|---|
| Cash flow from operating activities | ||
| Profit before net movement in regulatory deferral account balance and tax | 1,629.85 | 1,296.10 |
| Add: Net movement in regulatory deferral account balances (net of tax) | (53.26) | (12.81) |
| Add: Tax on net movement in regulatory deferral account balances | (11.27) | (2.71) |
| Profit before tax including movement in regulatory deferral account balances | 1,565.32 | 1,280.58 |
| Adjustment for: | ||
| Depreciation, amortisation & impairment expense | 631.84 | 454.49 |
| Interest income | (292.02) | (277.26) |
| Dividend from Subsidiary / Associate / Joint Venture | (5.09) | (3.15) |
| Finance cost | 910.36 | 697.96 |
| Loss on disposal/ write off of fixed assets | 3.31 | 2.26 |
| Late Payment Surcharge From Beneficiaries | 0.88 | (22.54) |
| Profit on sale of fixed assets | (0.01) | (0.19) |
| 1,249.27 | 851.57 | |
| Adjustment for assets and liabilities | ||
| Inventories | 0.24 | (1.46) |
| Trade receivable and unbilled revenue | (768.52) | 82.85 |
| Loans, other financial assets and other assets | 89.30 | 214.07 |
| Trade payable | (5.47) | (20.29) |
| Other financial liabilities and other liabilities | 17.10 | (92.75) |
| Regulatory deferral account debit balance | 64.53 | 15.52 |
| Provisions | 10.83 | 12.03 |
| (591.99) | 209.97 | |
| Cash generated from operating activities | 2,222.60 | 2,342.12 |
| Income tax paid | (262.21) | (166.41) |
| Net cash generated by operating activities | 1,960.39 | 2,175.71 |
| Cash flow from investing activities: | ||
| Net expenditure on Property, Plant & Equipment and CWIP including advances for capital works | (944.83) | (986.00) |
| Term deposits with bank (having maturity more than three months) | 768.30 | 175.94 |
| Interest income | 319.66 | 281.68 |
| Late Payment Surcharge From Beneficiaries | (0.87) | 22.53 |
| Dividend from subsidiary / associate / joint venture | 5.09 | 3.15 |
| Investment in subsidiaries and joint ventures (incl Share application) | (120.04) | (1,014.73) |
| Loans to subsidiaries | 45.71 | (201.62) |
| Net cash generated by investing activities | 73.02 | (1,719.05) |
| Cash flow from financing activities: | ||
| Repayment of borrowings | (649.34) | (387.52) |
| Proceed from borrowings | 234.13 | 1,151.43 |
| Payment of lease liabilities | (9.14) | (7.21) |
| Interest and finance charges | (694.91) | (722.34) |
| Dividend Paid | (573.31) | (707.24) |
| Cash used in financing activities | (1,692.57) | (672.88) |
| Net increase in cash and cash equivalents | 340.84 | (216.22) |
| Opening balance of cash & cash equivalents (refer note 1 and 2 below) | 40.51 | 256.73 |
| Closing balance of cash & cash equivalents (refer note 1 and 2 below) | 381.35 | 40.51 |
| Particulars | For the Year Ended March 31, 2026 | For the Year Ended March 31