A leading Navratna public sector enterprise has strengthened its foothold in Bihar’s energy sector by signing a crucial MoU with the state government. The agreement focuses on developing the ambitious 1,000 MW Hathidah Durgawati Pumped Storage Project, along with other pumped storage initiatives, marking a significant step in enhancing India’s renewable energy infrastructure.
Share Price Movement
The share price of SJVN Limited reached an intraday high of 7.58 percent to Rs. 112.33 per share on Wednesday, an increase from its previous close of Rs. 104.41 per share. The market capitalisation now stands at approximately Rs. 43,927 crore as of January 01, 2025.
Share Price Surge: Why?
SJVN signed an MoU with the Government of Bihar to develop the 1000 MW Hathidah Durgawati Pumped Storage Project (PSP) on the Durgawati River in Kaimur district, with an estimated cost of Rs. 5,663 crore. The project, expected to generate 6.325 MU of daily peak energy, is part of a larger initiative to develop PSPs in Bihar, including Telharkund (400 MW), Sinafdar (345 MW), and Panchgotia (225 MW).
The agreement was signed in the presence of Bihar’s Deputy Chief Minister and other officials. This initiative will create 5,000 jobs and involves a total investment of Rs. 10,000 crore.
Financial Highlights
According to its recent filing, in the quarter ending September 2024, SJVN’s consolidated revenue from operations has increased by 16.85 percent YOY from Rs. 878 crore in Q2 FY24 to Rs. 1026 crore in Q2 FY25 and increased by 17.93 percent QoQ from Rs. 870 crore in Q4 FY24.
The company’s consolidated net profit has not changed YoY from Rs. 440 crore in Q2 FY24 to Rs. 440 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 23.25 percent QoQ from Rs. 357 crore.
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Market Outlook
India’s power sector is poised for significant growth, driven by rising energy demand and an increasing focus on renewables. As of March 2024, the country’s installed power generation capacity reached 4,41,970 MW. With an estimated hydropotential of 1,50,000 MW, only 46,928 MW has been tapped, leaving vast opportunities for expansion.
Hydropower, with its ability to provide peak power and ensure grid stability, remains crucial. Pumped Storage Projects further enhance this potential, storing solar energy for use during non-solar hours.
Shareholding Pattern
As of the September 2024 shareholding pattern, SJVN Limited is primarily held by the promoters at 81.85 percent, foreign institutional investors hold 2.38 percent, and the public with 11.48 percent.
About Company
SJVN Limited, a Navratna public sector enterprise, has been a leading force in India’s energy sector since its establishment on May 24, 1988, as a joint venture between the Government of India and Himachal Pradesh. Operating from Shimla, the company has a diverse portfolio of energy projects in India, Nepal, and Bhutan, including power plants, power transmission, and consultancy services.
SJVN is also expanding into renewable energy to ensure sustainability. Under the leadership of Chairman and Managing Director Nand Lal Sharma, SJVN aims to drive innovation and collaboration for a greener, more efficient energy future for India.
Written By Fazal Ul Vahab C H
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A leading Navratna public sector enterprise has strengthened its foothold in Bihar’s energy sector by signing a crucial MoU with the state government. The agreement focuses on developing the ambitious 1,000 MW Hathidah Durgawati Pumped Storage Project, along with other pumped storage initiatives, marking a significant step in enhancing India’s renewable energy infrastructure. Share Price
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