SHIMLA: SJVN Limited has announced record-breaking revenue figures for the fiscal year 2022-23, netting Rs. 3,299 Crores.
This financial performance marks a substantial increase of over 25.62% compared to the previous year. SJVN Achieves Record Financial Performance and Expands Renewable Energy Portfolio as well.
The impressive results among other things were unveiled during a press conference by Sh. Nand Lal Sharma, Chairman & Managing Director of SJVN at Marina hotel here today.
Nand Lal Sharma, Chairman & Managing Director of SJVN, announced the following highlights:
- SJVN achieved the highest-ever revenue of Rs. 3,299 Crores in FY 2022-23, marking a remarkable increase of 25.62% from the previous year.
- The Profit After Tax (PAT) soared to Rs. 1,363.45 crores, a remarkable growth of 39.48% compared to FY 2021-22.
- SJVN recorded a Profit Before Tax of Rs. 1,732.13 crores, showcasing a significant increase of 28.93%.
- Earnings Per Share (EPS) increased to Rs. 3.47 from Rs. 2.49 per share in the previous year.
- SJVN declared a dividend of Rs. 1.77 per share for 2022-23.
Operational achievements included:
- Nathpa Jhakri Hydro Power Station achieved a remarkable Plant Availability Factor (PAF) of 106.653%.
- Charanka SPS achieved an annual generation of 8.75 MU in FY 2022-23.
- SJVN's power stations generated 9,335 Million Units of energy, exceeding the total Design Energy of 8,705 Million Units.
- SJVN's corporate headquarters, "Shakti Sadan," received a Four-Star rating from the Green Rating for Integrated Habitat Assessment (GRIHA) Council.
- Trade Receivables during FY 2022-23 was 35 days, surpassing the MOU target of 45 days.
- SJVN's two flagship hydro power stations in Himachal Pradesh achieved a record single-day power generation of 50.534 MU on July 18, 2023.
In terms of expanding its renewable energy portfolio, SJVN signed Power Purchase Agreements for a 200 MW Solar Power Project with Maharashtra State Electricity Distribution Company Limited and a 100 MW Wind Power Capacity agreement with Solar Energy Corporation of India Limited. Additionally, a Power Usage Agreement for the supply of 500 MW Solar power from the ongoing 1000 MW Bikaner Solar Power Project was signed with Punjab State Power Corporation Limited.
Furthermore, SJVN has shown strong commitment to Corporate Social Responsibility (CSR) activities by spending Rs. 59.84 crores in FY 2022-23, exceeding the statutory obligation of Rs. 36.46 crores.
SJVN's current installed capacity stands at 2,091.50 MW, including hydro, wind, and solar power. The company also operates transmission lines and has ambitious plans for further expansion.
Looking ahead, SJVN aims to achieve a new mission of 12,000 MW by 2026 and envisions a shared vision of 25,000 MW by 2030 and 50,000 MW by 2040, emphasizing its commitment to renewable energy and sustainable growth.
SJVN has become the fourth Renewable Energy Implementing Agency (REIA) and received the Anti-Bribery Management System (ABMS) Certification by the Bureau of Indian Standards (BIS), reinforcing its commitment to excellence and integrity.
The company has also signed numerous key Memoranda of Understanding (MOUs) for future projects, highlighting its dedication to expanding its presence in the renewable energy sector.
