Multibagger Miniratna PSU Bags Rs 14,000 Cr Order From Mizoram Govt, Shares Gain 13%

Miniratna public sector undertaking SJVN Ltd shares today gained nearly 13% after the company received a Letter Of Intent (LoI) for allotment of Darzo Lui Pumped storage project from the Mizoram government. Current market price of SJVN share on BSE is Rs 151.45 per share. SJVN Ltd shares offered attractive return of 160% in last 1-year and 433% return in last 2-years. Its market capitalisation stood at Rs 59,477.45 crore. The company earlier this year on May 29, 2024 recommended a final dividend of Re 0.65/- per equity share for the financial year 2023-24 with record date yet to be issued. More details below:

SJVN Bags Work Order From Mizoram Govt: As per the BSE filing of SJVN issued as on July 26, "In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has received a Letter of Intent for allotment of Darzo Lui Pumped Storage Project from the Government of Mizoram. With an installed capacity of 2,400 MW, the Pumped Storage Project has been proposed across Darzo Nallah, a tributary of Tuipui river. The estimated cost of project on completion is Rs 13,947.50 crores including IDC & Financing costs at April 2023 Price Level. This is the first project of the company in the state of Mizoram."

It is further informed that Darzo Lui Pumped Storage Project is an On-stream Closed Loop Type pumped storage project. The project comprises of eight units of 300 MW each. The annual energy generation with 95% plant availability shall be 4,993.20 MU, added the exchange filing.

SJVN Shares Performance & Return: The 52-week high price of SJVN shares on BSE is Rs 170.45 apiece (as on 05/02/2024) and 52-week low price is Rs 52.69 apiece (as on 09/08/2023), respectively. SJVN shares ganied 8% in last 1-week, soared 30% in last 6-months, jumped 63% year-to-date, and offered attractive return of over 454% in last 3-years. In last 5-years, SJVN shares jumped 530%.

SJVN Recommended Final Dividend: Board of Directors in the aforesaid meeting have recommended a final dividend of ₹0.65/- per equity share for the Financial Year 2023-24 subject to the approval of shareholders in the ensuing Annual General Meeting. The final dividend is in addition to the interim dividend of ₹1.15/- per equity share for the Financial Year 2023-24 declared in the month of February 2024 and will be paid within the statutory period as per the Companies Act, 2013."

SJVN Q4: The company today declared its total income at Rs 573.23 crore for the quarter ended March 31, 2024 as against Rs 582.78 crore reported in the similar quarter of last year. The company declared its consolidated net profit for 2023-24 at Rs 911.44 crore as compared to Rs 1359.30 crore in the year ago period. Total income of SJVN for 2023-24 declined to Rs 2876.96 crore as against Rs 3,282.50 crore announced in 2022-23.

SJVN Ltd About: It is a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of Ministry of Power, Govt. of India, was incorporated on May 24, 1988 as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). SJVN is now a listed Company having shareholders pattern of 55.00% with Govt. of India, 26.85% with Govt. of Himachal Pradesh and rest of 18.15% with Public. SJVN is presently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and Madhya Pradesh in India besides neighboring country of Nepal, according to its official website.

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